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Name

As of 02/08/2024

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 GW&K Emerging Markets Equity Fund

TLEIX | Fund

$7.46

$21 M

6.23%

$0.46

1.06%

Vitals

YTD Return

0.4%

1 yr return

-5.4%

3 Yr Avg Return

-11.2%

5 Yr Avg Return

0.5%

Net Assets

$21 M

Holdings in Top 10

40.9%

52 WEEK LOW AND HIGH

$7.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.06%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 36.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000,000

IRA

$50,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 02/08/2024

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 GW&K Emerging Markets Equity Fund

TLEIX | Fund

$7.46

$21 M

6.23%

$0.46

1.06%

TLEIX - Profile

Distributions

  • YTD Total Return 0.4%
  • 3 Yr Annualized Total Return -11.2%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.60%
DIVIDENDS
  • Dividend Yield 6.2%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    AMG GW&K Emerging Markets Equity Fund
  • Fund Family Name
    AMGFUNDSGR
  • Inception Date
    Mar 01, 2012
  • Shares Outstanding
    N/A
  • Share Class
    Z
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Pablo Salas

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities (generally common and preferred stocks) of issuers located in emerging market countries. GW&K Investment Management, LLC (“GW&K” or the “Subadviser”) considers equity securities to include common and preferred stocks, initial public offering (“IPO”) investments, securities convertible into equities (such as warrants and convertible bonds), and securities with equity characteristics, including, but not limited to, equity linked notes and participation notes. The Fund may allocate investments across different emerging market countries. With respect to the Fund, GW&K considers emerging market countries to be any country other than Canada, Luxembourg, the United States and the countries comprising the MSCI EAFE Index. The Fund considers an issuer to be located in an emerging market country if the issuer maintains its principal place of business in an emerging market country, its securities are traded principally in an emerging market country, it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in an emerging market country or it has at least 50% of its assets in an emerging market country. To gain exposure to foreign issuers, the Fund also may invest in American Depositary Receipts ("ADRs"), Global Depositary Receipts ("GDRs") and other depositary receipts of non-U.S. listed companies. The Fund may also invest  
in derivative instruments, including but not limited to swaps, such as total return swaps, equity index futures, currency forwards, exchange-traded futures, and forward foreign currency contracts. The Fund may invest in derivative instruments to gain exposure to emerging markets. 
The Subadviser uses a bottom-up investment process driven by fundamental research conducted by its investment analysts. Under normal market conditions, the Subadviser seeks to maintain a growth oriented focus and invest the Fund’s assets pursuant to the following core principles: 
—Earnings growth should drive equity returns over the long term. 
—Early-stage and traditional growth companies should provide the greatest opportunity. 
—Risk management with respect to the Fund’s portfolio should focus on avoiding losing money, rather than minimizing tracking error against the benchmark. 
—A disciplined investment process requires consistently identifying opportunities, evaluating potential returns and responding with timely buy/sell decisions. 
Read More

TLEIX - Performance

Return Ranking - Trailing

Period TLEIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -9.1% 7.0% 30.23%
1 Yr -5.4% -14.6% 34.4% 92.68%
3 Yr -11.2%* -28.6% 9.0% 66.33%
5 Yr 0.5%* -7.5% 11.8% 83.10%
10 Yr 2.4%* -2.1% 7.1% 67.11%

* Annualized

Return Ranking - Calendar

Period TLEIX Return Category Return Low Category Return High Rank in Category (%)
2023 -2.5% -8.7% 35.5% 99.20%
2022 -21.8% -50.1% -2.4% 29.12%
2021 -10.7% -33.1% 22.5% 73.73%
2020 14.1% -22.1% 80.1% 62.37%
2019 13.5% -0.7% 42.0% 82.99%

Total Return Ranking - Trailing

Period TLEIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -9.1% 7.0% 30.23%
1 Yr -5.4% -14.6% 34.4% 92.68%
3 Yr -11.2%* -28.6% 9.0% 66.33%
5 Yr 0.5%* -7.5% 11.8% 83.10%
10 Yr 2.4%* -2.1% 7.1% 67.11%

* Annualized

Total Return Ranking - Calendar

Period TLEIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -7.4% 42.0% 96.53%
2022 -18.0% -42.2% 1.9% 20.74%
2021 -9.6% -32.5% 33.1% 88.68%
2020 19.4% -20.0% 81.6% 42.94%
2019 22.6% 2.3% 42.0% 38.43%

NAV & Total Return History

TLEIX - Holdings

Concentration Analysis

TLEIX Category Low Category High TLEIX % Rank
Net Assets 21 M 653 K 96.1 B 90.12%
Number of Holdings 77 10 6829 64.30%
Net Assets in Top 10 8.11 M 282 K 17.9 B 88.67%
Weighting of Top 10 40.90% 0.3% 122.2% 23.35%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd 8.78%
  2. HDFC Bank Ltd 6.79%
  3. Samsung Electronics Co Ltd 5.49%
  4. Tencent Holdings Ltd 3.57%
  5. Reliance Industries Ltd 2.91%
  6. Baidu Inc 2.80%
  7. Yum China Holdings Inc 2.75%
  8. Bank Mandiri Persero Tbk PT 2.64%
  9. Trip.com Group Ltd 2.60%
  10. SK Hynix Inc 2.58%

Asset Allocation

Weighting Return Low Return High TLEIX % Rank
Stocks 		98.29% 0.00% 104.09% 27.80%
Other 		1.81% -1.64% 45.30% 6.32%
Preferred Stocks 		0.00% 0.00% 10.17% 72.33%
Convertible Bonds 		0.00% 0.00% 7.40% 41.25%
Cash 		0.00% -2.03% 99.09% 96.57%
Bonds 		0.00% 0.00% 94.92% 49.01%

Stock Sector Breakdown

Weighting Return Low Return High TLEIX % Rank
Financial Services 		25.04% 0.00% 48.86% 24.00%
Technology 		24.15% 0.00% 47.50% 40.67%
Consumer Cyclical 		18.01% 0.00% 48.94% 11.20%
Communication Services 		14.12% 0.00% 39.29% 5.20%
Consumer Defense 		7.68% 0.00% 25.90% 28.27%
Healthcare 		4.36% 0.00% 16.53% 39.47%
Energy 		3.29% 0.00% 24.80% 61.60%
Industrials 		2.55% 0.00% 43.53% 90.13%
Real Estate 		0.79% 0.00% 17.15% 68.13%
Utilities 		0.00% 0.00% 39.12% 80.53%
Basic Materials 		0.00% 0.00% 30.03% 96.40%

Stock Geographic Breakdown

Weighting Return Low Return High TLEIX % Rank
Non US 		81.68% 0.00% 100.18% 62.06%
US 		16.61% 0.00% 101.58% 27.54%

TLEIX - Expenses

Operational Fees

TLEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.06% 0.03% 24.48% 71.69%
Management Fee 0.55% 0.00% 2.00% 13.72%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.85% 73.39%

Sales Fees

TLEIX 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% 5.00% N/A

Trading Fees

TLEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 18.85%

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.

TLEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 36.00% 0.00% 189.00% 36.63%

TLEIX - Distributions

Dividend Yield Analysis

TLEIX Category Low Category High TLEIX % Rank
Dividend Yield 6.23% 0.00% 9.16% 43.74%

Dividend Distribution Analysis

TLEIX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Annual Annual

Net Income Ratio Analysis

TLEIX Category Low Category High TLEIX % Rank
Net Income Ratio 0.60% -1.98% 17.62% 54.10%

Capital Gain Distribution Analysis

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

Distributions History

View More +

TLEIX - Fund Manager Analysis

Managers

Pablo Salas

Start Date

Tenure

Tenure Rank

Mar 01, 2011

11.26

11.3%

Pablo is a partner of the firm and is responsible for the management of GW&K’s Emerging Markets Equity Strategy. Pablo has been managing this strategy since its inception in 1997. With over 30 years of experience analyzing emerging market companies through numerous market cycles, Pablo has a valuable perspective and a passion for identifying under-researched and underappreciated businesses that are capable of becoming industry leaders. He is a member of the firm’s Investment Committee.

William Sterling

Start Date

Tenure

Tenure Rank

Mar 01, 2011

11.26

11.3%

Mr. Sterling serves as Global Strategist at GW&K, a position he has held since 2019. Previously, Mr. Sterling served as Chief Investment Officer and Chief Executive Officer at Trilogy. He has worked on the staff of General Motors as Senior Economist with the Competitive Analysis Group, and at Merrill Lynch as Chief Strategist. He was Global Strategist and Portfolio Manager for BEA/Credit Suisse Asset Management before founding Trilogy Advisors. Mr. Sterling has earned an MA and PhD in economics from Harvard University and studied at the University of Tokyo as a Fulbright Scholar.

Bradley Miller

Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

Brad is a partner of the firm as well as a portfolio manager for GW&K’s Emerging Markets Equity Strategy and contributes research, with a focus on the Financials and Industrials sectors, in support of all of the firm’s emerging markets strategies. In addition to applying his extensive experience towards finding attractive investment opportunities, Brad’s role as a portfolio manager includes mentoring analysts on the emerging markets team. Brad is a member of the firm’s Investment Committee. Brad has been an integral member of the emerging markets equity team for more than two decades. Prior to joining GW&K as a portfolio manager in 2019, Brad was an investment analyst and emerging markets portfolio specialist at Trilogy Global Advisors. Trilogy became part of GW&K in 2019. Earlier in his career he held analyst and portfolio manager positions at BPI Global Asset Management and Kornitzer Capital Management. Brad earned a BA in Economics and Management with a specialization in Finance from Simpson College. He also earned an MBA from the University of Iowa. Brad is a CFA® charterholder and a member of the CFA Institute and the CFA Society Orlando.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.52 13.42

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