Fund
AFAVX
Price as of:
$13.54
- $0.11
- 0.81%
Primary Theme
fund company
Name
As of 04/25/2024Price
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
Vitals
YTD Return
5.8%
1 yr return
20.0%
3 Yr Avg Return
-1.2%
5 Yr Avg Return
3.6%
Net Assets
$51.2 M
Holdings in Top 10
48.3%
52 WEEK LOW AND HIGH
$13.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.98%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 149.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
$25,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/25/2024Price
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
AFAVX - Profile
Distributions
- YTD Total Return 5.8%
- 3 Yr Annualized Total Return -1.2%
- 5 Yr Annualized Total Return 3.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.35%
- Dividend Yield 1.2%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAMG River Road Focused Absolute Value Fund
-
Fund Family NameAMGFUNDSGR
-
Inception DateNov 03, 2015
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerThomas Forsha
Fund Description
The Fund principally invests in a portfolio of equity securities of U.S. and non-U.S. companies and may invest in securities of all market capitalizations. Under normal conditions, the Fund intends to invest its assets in the equity securities of a limited number of issuers. In pursuing its investment strategy, the Fund will primarily invest in common stocks, real estate investment trusts (“REITs”) and publicly traded partnerships (“PTPs”), including, but not limited to, master limited partnerships (“MLPs”). The Fund may invest in non U.S. companies through depositary receipts or by directly investing in securities listed on foreign exchanges.
The investment philosophy of River Road Asset Management, LLC, the subadviser to the Fund (“River Road” or the “Subadviser”), is based upon its proprietary Absolute Value® approach, which seeks to generate attractive, sustainablereturns over the long term, with an emphasis on minimizing downside portfolio risk.
The Subadviser builds the Fund’s portfolio from the bottom up, making security-specific research central to the Subadviser’s process. At the core of the Subadviser’s Absolute Value®approach is a systematic method for assessing the ‘risk-to-reward’ characteristics of an investment. The goal of the research process is to formulate two outputs from which an investment decision is made – conviction rating (risk) and discount to value (reward). The Subadviser combines a stock’s conviction rating with its discount to value in an effort to determine not only whether the stock qualifies for investment, but also how the stock will be sized within the Fund.
In managing the Fund, the Subadviser employs an all-cap strategy that focuses on a limited number of securities representing the Subadviser’s “best ideas” across all of its core strategies. These “best ideas” are the result of the Subadviser’s risk/reward assessment, which is based on the Subadviser’s conviction about a company and opinion about the company’s discount to valuation.
To seek to manage risk, the Subadviser employs a structured sell discipline.
The Subadviser’s investment strategy is highly opportunistic and may result in high portfolio turnover.
The Fund is classified as non-diversified.
AFAVX - Performance
Return Ranking - Trailing
| Period | AFAVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.8% | -12.8% | 18.3% | 12.64% |
| 1 Yr | 20.0% | -0.3% | 45.0% | 37.64% |
| 3 Yr | -1.2%* | -22.5% | 15.7% | 92.35% |
| 5 Yr | 3.6%* | -1.5% | 20.1% | 96.58% |
| 10 Yr | N/A* | 2.3% | 12.7% | N/A |
* Annualized
Return Ranking - Calendar
| Period | AFAVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.4% | -12.9% | 28.8% | 75.69% |
| 2022 | -17.0% | -52.6% | 20.1% | 32.87% |
| 2021 | 7.4% | -43.8% | 32.4% | 68.47% |
| 2020 | -1.4% | -10.6% | 82.1% | 92.01% |
| 2019 | 32.0% | -8.5% | 37.5% | 2.82% |
Total Return Ranking - Trailing
| Period | AFAVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.8% | -12.8% | 18.3% | 12.64% |
| 1 Yr | 20.0% | -0.3% | 45.0% | 37.64% |
| 3 Yr | -1.2%* | -22.5% | 15.7% | 92.35% |
| 5 Yr | 3.6%* | -1.5% | 20.1% | 96.58% |
| 10 Yr | N/A* | 2.3% | 12.7% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | AFAVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.5% | 1.2% | 31.3% | 77.35% |
| 2022 | -16.2% | -45.7% | 21.1% | 66.30% |
| 2021 | 7.8% | -30.2% | 52.8% | 97.73% |
| 2020 | -0.8% | -8.4% | 84.3% | 97.63% |
| 2019 | 34.7% | 1.0% | 43.4% | 6.27% |
NAV & Total Return History
AFAVX - Holdings
Concentration Analysis
| AFAVX | Category Low | Category High | AFAVX % Rank | |
|---|---|---|---|---|
| Net Assets | 51.2 M | 728 K | 160 B | 85.91% |
| Number of Holdings | 32 | 1 | 2609 | 89.97% |
| Net Assets in Top 10 | 23.1 M | 155 K | 11.7 B | 78.05% |
| Weighting of Top 10 | 48.35% | 3.4% | 100.0% | 9.24% |
Top 10 Holdings
- Berkshire Hathaway Inc 7.41%
- Fairfax Financial Holdings Ltd 7.27%
- CRH PLC 5.40%
- WEX Inc 4.57%
- Kroger Co/The 4.31%
- Comcast Corp 4.01%
- BJ's Wholesale Club Holdings Inc 3.99%
- LKQ Corp 3.82%
- Global Payments Inc 3.80%
- Patterson Cos Inc 3.77%
Asset Allocation
| Weighting | Return Low | Return High | AFAVX % Rank | |
|---|---|---|---|---|
| Stocks | 98.80% | 14.60% | 104.46% | 49.59% |
| Other | 0.90% | -1.04% | 23.02% | 6.50% |
| Cash | 0.31% | 0.00% | 30.96% | 76.96% |
| Preferred Stocks | 0.00% | 0.00% | 14.30% | 48.78% |
| Convertible Bonds | 0.00% | 0.00% | 1.78% | 48.51% |
| Bonds | 0.00% | 0.00% | 62.14% | 52.03% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | AFAVX % Rank | |
|---|---|---|---|---|
| Financial Services | 23.95% | 0.00% | 46.10% | 4.62% |
| Technology | 16.06% | 0.00% | 40.65% | 44.29% |
| Consumer Cyclical | 14.49% | 2.49% | 46.48% | 30.71% |
| Communication Services | 14.34% | 0.00% | 30.98% | 2.45% |
| Consumer Defense | 9.87% | 0.00% | 32.18% | 7.07% |
| Utilities | 8.03% | 0.00% | 18.97% | 10.87% |
| Healthcare | 7.27% | 0.00% | 24.06% | 86.41% |
| Energy | 3.04% | 0.00% | 58.13% | 76.36% |
| Industrials | 2.96% | 0.00% | 45.89% | 98.10% |
| Real Estate | 0.00% | 0.00% | 25.82% | 94.29% |
| Basic Materials | 0.00% | 0.00% | 16.35% | 97.55% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | AFAVX % Rank | |
|---|---|---|---|---|
| US | 98.80% | 14.60% | 104.46% | 41.73% |
| Non US | 0.00% | 0.00% | 19.95% | 56.64% |
AFAVX - Expenses
Operational Fees
| AFAVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.98% | 0.03% | 35.91% | 50.00% |
| Management Fee | 0.60% | 0.00% | 1.50% | 37.33% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.15% | 0.01% | 0.30% | 72.64% |
Sales Fees
| AFAVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| AFAVX 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.
| AFAVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 149.00% | 0.00% | 304.00% | 96.97% |
AFAVX - Distributions
Dividend Yield Analysis
| AFAVX | Category Low | Category High | AFAVX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.21% | 0.00% | 30.24% | 23.31% |
Dividend Distribution Analysis
| AFAVX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| AFAVX | Category Low | Category High | AFAVX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.35% | -2.06% | 3.38% | 51.50% |
Capital Gain Distribution Analysis
| AFAVX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 14, 2023 | $0.357 | OrdinaryDividend |
| Dec 15, 2022 | $0.118 | OrdinaryDividend |
| Dec 16, 2020 | $0.077 | OrdinaryDividend |
| Dec 16, 2019 | $0.267 | OrdinaryDividend |
AFAVX - Fund Manager Analysis
Managers
Thomas Forsha
Start Date
Tenure
Tenure Rank
Nov 03, 2015
6.58
6.6%
Mr. Forsha serves as Co-Chief Investment Officer for River Road. Additionally, he is a portfolio manager for River Road’s Dividend All-Cap Value and Focused Absolute Value® Portfolios. Mr. Forsha holds equity in the firm and serves as a non-voting member of the Executive Committee, River Road’s governing body. Prior to joining River Road in 2005, Mr. Forsha served as Equity Analyst and Portfolio Manager for ABN AMRO Asset Management USA, where he was responsible for management of the North American equity allocation of the firm’s Global High Income Equity Fund.
R. Andrew Beck
Start Date
Tenure
Tenure Rank
Nov 03, 2015
6.58
6.6%
Mr. Beck serves as Chief Executive Officer for River Road. Additionally, he is a portfolio manager for River Road’s Small Cap Value, Small-Mid Cap Value, Mid Cap Value, and Focused Absolute Value® Portfolios. Mr. Beck is the largest individual shareholder in the firm and serves as Chair of the Executive Committee, River Road’s governing body. Prior to co-founding River Road in 2005, Mr. Beck served as Senior Research Analyst and, later, Senior Vice President and Portfolio Manager for SMC Capital Inc. (Commonwealth SMC).
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.25 | 38.44 | 7.24 | 5.78 |