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Name

As of 04/16/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

AMG Beutel Goodman Core Plus Bond Fund

ADLIX | Fund

$8.54

$125 M

0.00%

0.57%

Vitals

YTD Return

-3.1%

1 yr return

-1.4%

3 Yr Avg Return

-3.8%

5 Yr Avg Return

-0.5%

Net Assets

$125 M

Holdings in Top 10

46.7%

52 WEEK LOW AND HIGH

$8.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.57%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 174.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

$25,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/16/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

AMG Beutel Goodman Core Plus Bond Fund

ADLIX | Fund

$8.54

$125 M

0.00%

0.57%

ADLIX - Profile

Distributions

  • YTD Total Return -3.1%
  • 3 Yr Annualized Total Return -3.8%
  • 5 Yr Annualized Total Return -0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.08%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AMG Beutel Goodman Core Plus Bond Fund
  • Fund Family Name
    AMGFUNDSGR
  • Inception Date
    Sep 29, 2017
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Sue McNamara

Fund Description

Under normal circumstances, the Fund invests at least 80% of its assets in fixed income securities. Fixed income securities (also referred to as debt securities) include, but are not limited to, securities issued or guaranteed by the U.S. government or its agencies, instrumentalities or sponsored corporations; agency mortgage-backed securities; non-agency mortgage-backed securities; commercial mortgage-backed securities; asset-backed securities; foreign and domestic corporate bonds; fixed income securities issued by corporations, governments, government agencies, authorities or instrumentalities and supra-national organizations in foreign countries including emerging markets; restricted securities, including Rule 144A securities (securities that may be sold pursuant to Rule 144A under the Securities Act of 1933); preferred securities; securities issued by municipalities; and other securities bearing fixed or variable interest rates of any maturity. Up to 20% of the Fund’s assets may be invested in non-U.S. dollar-denominated instruments. The Fund may hedge against currency risk or interest rate risk by using forward foreign currency contracts and futures, respectively, or by using other techniques, but it is not required to do so.
The Fund may invest up to 30% of its assets in below investment grade securities (common known as “junk bonds” or “high yield securities”). Below investment grade securities are rated below Baa3 by Moody’s Investors Service, Inc. (“Moody’s”) or below BBB- by S&P Global Ratings (“S&P”) or similarly rated by
another nationally recognized statistical rating organization, or unrated but determined by Beutel, Goodman & Company Ltd., the subadviser to the Fund (“Beutel Goodman” or the “Subadviser”), to be of comparable credit quality. In cases where the credit ratings agencies have assigned different credit ratings to the same security, the security will be considered to have the higher credit rating. The Fund may continue to hold securities that are downgraded in credit rating subsequent to their purchase if Beutel Goodman believes it would be advantageous to do so.
The Fund intends to invest primarily in bonds with a rating of B or higher by any NRSRO at the time of purchase. The Fund expects that the average credit rating of the Fund’s portfolio will be BBB or above. While the Fund may purchase fixed income securities of any duration, the Fund currently intends to primarily invest in fixed income securities so that the overall duration of the Fund’s portfolio will remain +/- 2 years of the duration of the Fund’s benchmark (the Bloomberg U.S. Aggregate Bond Index), which was 6.24 years as of December 31, 2023. The average duration of fixed income securities in the Fund’s portfolio may, however, be shorter or longer depending on market conditions.
The Subadviser actively manages the Fund’s portfolio using top-down macroeconomic analysis and bottom-up fundamental credit research to determine relative value and build what it views as a high conviction portfolio. A variety of qualitative and quantitative tools are used in the research process. The Subadviser’s data-driven top-down analysis assesses interest rate anticipation (duration), yield curve positioning and sector positioning. Inflation, the political climate, monetary policy and economic activity are among the variables used to determine the overall duration target for the Fund, and the Fund’s maturity structure will be adjusted to reflect the Subadviser’s forecast for interest rates. The Fund’s overall corporate credit positioning and sector selection are determined based on the Subadviser’s economic and interest rate anticipation analysis. In selecting individual securities for the Fund, the Subadviser conducts fundamental credit research that employs, among other things, financial modeling, industry analysis, analysis of regulatory filings, management meetings and credit rating reports. The Subadviser evaluates potential investments based on the following elements: liquidity, transparency, non-cyclicality, financial models, and environmental, social and governance (“ESG”) criteria. The Subadviser uses proprietary risk management tools to manage the Fund’s interest rate risk, yield curve risk, credit risk and liquidity risk.
Read More

ADLIX - Performance

Return Ranking - Trailing

Period ADLIX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.1% -13.2% 2.8% 45.24%
1 Yr -1.4% -11.0% 10.6% 75.22%
3 Yr -3.8%* -11.1% 24.7% 49.95%
5 Yr -0.5%* -6.8% 190.4% 79.57%
10 Yr 1.3%* -2.6% 73.3% 34.00%

* Annualized

Return Ranking - Calendar

Period ADLIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.0% -16.2% 8.1% 86.45%
2022 -17.3% -34.7% 131.9% 80.98%
2021 -2.3% -11.6% 4.4% 11.89%
2020 2.0% -10.1% 946.1% 87.49%
2019 4.4% -1.7% 16.9% 80.64%

Total Return Ranking - Trailing

Period ADLIX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.1% -13.2% 2.8% 45.24%
1 Yr -1.4% -11.0% 10.6% 75.22%
3 Yr -3.8%* -11.1% 24.7% 49.95%
5 Yr -0.5%* -6.8% 190.4% 79.57%
10 Yr 1.3%* -2.6% 73.3% 34.00%

* Annualized

Total Return Ranking - Calendar

Period ADLIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.2% -11.3% 11.0% 77.49%
2022 -14.1% -32.2% 131.9% 67.75%
2021 0.7% -9.4% 9.2% 11.57%
2020 5.2% -1.9% 1009.0% 92.21%
2019 8.2% 1.1% 21668.0% 69.42%

NAV & Total Return History

ADLIX - Holdings

Concentration Analysis

ADLIX Category Low Category High ADLIX % Rank
Net Assets 125 M 2.9 M 314 B 86.95%
Number of Holdings 103 1 17889 94.00%
Net Assets in Top 10 59.5 M -106 M 36.5 B 77.58%
Weighting of Top 10 46.70% 4.4% 134.1% 12.36%

Top 10 Holdings

  1. United States Treasury Note/Bond - When Issued 13.06%
  2. United States Treasury Note/Bond 8.13%
  3. United States Treasury Note/Bond - When Issued 7.91%
  4. United States Treasury Note/Bond 3.36%
  5. Fannie Mae Pool 3.28%
  6. Bank of America Corp 2.31%
  7. United States Treasury Note/Bond 2.26%
  8. United States Treasury Note/Bond 2.25%
  9. Fannie Mae Pool 2.23%
  10. Toronto-Dominion Bank/The 1.90%

Asset Allocation

Weighting Return Low Return High ADLIX % Rank
Bonds 		98.79% 0.00% 215.98% 26.89%
Convertible Bonds 		4.87% 0.00% 7.93% 1.58%
Other 		1.25% -13.23% 50.66% 68.04%
Cash 		0.06% -54.51% 79.52% 89.18%
Stocks 		0.00% 0.00% 99.93% 31.70%
Preferred Stocks 		0.00% 0.00% 74.68% 39.13%

Stock Sector Breakdown

Weighting Return Low Return High ADLIX % Rank
Utilities 		0.00% 0.00% 100.00% 33.33%
Technology 		0.00% 0.00% 43.45% 25.49%
Real Estate 		0.00% 0.00% 99.26% 27.45%
Industrials 		0.00% 0.00% 48.31% 41.96%
Healthcare 		0.00% 0.00% 17.70% 30.59%
Financial Services 		0.00% 0.00% 100.00% 38.04%
Energy 		0.00% 0.00% 100.00% 1.18%
Communication Services 		0.00% 0.00% 100.00% 36.08%
Consumer Defense 		0.00% 0.00% 99.67% 29.02%
Consumer Cyclical 		0.00% 0.00% 100.00% 37.65%
Basic Materials 		0.00% 0.00% 100.00% 32.16%

Stock Geographic Breakdown

Weighting Return Low Return High ADLIX % Rank
US 		0.00% 0.00% 99.93% 29.11%
Non US 		0.00% 0.00% 86.52% 15.93%

Bond Sector Breakdown

Weighting Return Low Return High ADLIX % Rank
Corporate 		49.65% 0.00% 100.00% 10.50%
Securitized 		25.48% 0.00% 98.40% 65.64%
Government 		23.80% 0.00% 86.23% 51.78%
Municipal 		0.34% 0.00% 100.00% 54.16%
Cash & Equivalents 		0.06% 0.00% 76.23% 88.69%
Derivative 		0.02% -5.38% 50.66% 49.26%

Bond Geographic Breakdown

Weighting Return Low Return High ADLIX % Rank
US 		97.59% 0.00% 215.98% 32.45%
Non US 		1.20% 0.00% 39.04% 25.17%

ADLIX - Expenses

Operational Fees

ADLIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.57% 0.01% 39.10% 63.53%
Management Fee 0.23% 0.00% 1.76% 12.02%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.50% 72.14%

Sales Fees

ADLIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

ADLIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ADLIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 174.00% 2.00% 493.39% 60.85%

ADLIX - Distributions

Dividend Yield Analysis

ADLIX Category Low Category High ADLIX % Rank
Dividend Yield 0.00% 0.00% 9.95% 26.89%

Dividend Distribution Analysis

ADLIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

ADLIX Category Low Category High ADLIX % Rank
Net Income Ratio 2.08% -1.28% 4.79% 25.85%

Capital Gain Distribution Analysis

ADLIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

ADLIX - Fund Manager Analysis

Managers

Sue McNamara

Start Date

Tenure

Tenure Rank

Mar 23, 2021

1.19

1.2%

Sue joined Beutel Goodman in 2006 and has over 20 years of investment experience. She is a portfolio manager and a dedicated credit analyst, also involved in strategy and product design. Prior to joining BG, Sue worked as a Research Analyst for several of the large brokerage houses, most recently at BMO Nesbitt Burns. Sue is a graduate of the University of Western Ontario and is a CFA charterholder.

Neil McCabe

Start Date

Tenure

Tenure Rank

Mar 23, 2021

1.19

1.2%

Neil McCabe, MBA, CFA, Vice President, Fixed Income Neil joined Beutel Goodman in 2019 in 2019 as a credit analyst to lead the firm’s high yield initiative. Prior to joining the firm he gained extensive investment experience, most recently as a portfolio manager for Fiera Capital. Neil is a graduate of McMaster University and IESE Business School and is a CFA charterholder.

David Gregoris

Start Date

Tenure

Tenure Rank

Mar 23, 2021

1.19

1.2%

David has been with Beutel Goodman since 1992 and has over 30 years of investment experience. As a portfolio manager he is responsible for oversight of the fixed income process, and co-manages the fixed income team. He is responsible for portfolio duration and positioning, risk exposure, quantitative analysis and immunized and dedicated portfolios. David is also a member of the Management Committee and sits on the Board of Directors. Prior to joining Beutel Goodman, David worked at TAL where he was a portfolio manager in charge of fixed income trading. David is a graduate of the University of

Derek Brown

Start Date

Tenure

Tenure Rank

Mar 23, 2021

1.19

1.2%

Derek joined Beutel Goodman in 2016 and has over 15 years of investment experience. He is a portfolio manager and co-lead of the fixed income team. His strategic responsibilities include portfolio duration, positioning and risk exposure management. Prior to joining Beutel Goodman, Derek worked at Fiera Capital where he was a fixed income portfolio manager. Derek is a graduate of Concordia University, McGill University and a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.81 1.16

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