Yacktman Special Opportunities Fund

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Daily Pricing 07/27/2017
NAV: $11.36
NAV $ Change: $0.05
NAV % Change: 0.44%
YTD Return (as of 06/30/2017)
- at NAV 18.98%

The performance shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses.Unlike the Fund, the Index listed is unmanaged, is not available for investment and does not incur expenses. 

AMG Funds
YASLX Morningstar Risk-Adjusted Return Ratings as of June 30, 2017
Overall Rating 3 Years 5 Years 10 Years Category

(of 117 Funds)

(of 117 Funds)
World Small/Mid Stock

Fund Facts (as of 6/30/2017)

Investment Style: Small/Mid-Cap Core Value
Benchmark(s): MSCI AC World All Cap
Subadvisor(s): Yacktman Asset Management LP
Fund Net Assets: $28,625,429

Share Class Facts

Share Class: Z
Ticker: YASLX
Inception Date: 6/30/2014
Expense Ratio:
(Gross / Net)
2.11% / 1.57%
Minimum Investment:
Initial / Subsequent
$5,000,000 / $1,000
Minimum IRA Investment:
Initial / Subsequent
$50,000 / $1,000

Prior to October 1, 2016, the Fund’s Z shares were known as Institutional shares.

Prior to October 1, 2016, the Fund’s I shares were known as Service shares.

The Fund's investment manager has contractually agreed, through at least May 1 2018, to limit Fund operating expenses. The net expense ratio reflects this limitation, while the gross expense ratio does not. Please refer to the Fund's prospectus for additional information on the Fund's expenses.

Fund Focus

The Fund seeks long-term capital appreciation through an intrinsic value-oriented investment approach. The Fund’s investment process seeks to identify securities with absolute value rather than relative value or versus a benchmark. The Fund’s flexible mandate allows it to access a broad opportunity set to generate new ideas including all market capitalizations. As a result, the Fund will hold a concentration of investments in high conviction ideas with the top 10 holdings typically representing more than 30% of the portfolio. Target securities for this fund often fall into one of three investment categories:

High Quality

A high quality business exhibits evidence of a durable competitive advantage which may include:

  • High market share in principal product and/or service lines
  • Above average return on invested capital
  • Relatively low capital requirements allowing the business to generate cash while growing
  • Short customer repurchase cycles and long product cycles
  • Recurring revenue

Deep Value

A Deep Value investment may contain one or more of the following:

  • Short-term challenges with identifiable pathways to improvement
  • Hidden sources of value creation such as non-core assets or securities
  • Low purchase price at a discount to asset value or normalized earnings

Special Situations

Special situations are often value investments with a catalyst uncorrelated to the broader market. Situations may include:

  • Spin-offs
  • Corporate actions
  • Changes in firm leadership
  • Liquidations
  • Acquisitions or divestitures

Where This Fund May Fit As Part Of Your Asset Allocation

The Fund may be appropriate for your overall investment allocation if you are:

  • Looking to gain exposure to domestic and foreign equity securities
  • Seeking long-term capital appreciation
  • Willing to accept short-term volatility of returns

Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or download a free prospectus. Read it carefully before investing or sending money.

A short-term redemption fee of 2% will be charged on redemptions of Fund shares within 60 days of purchase.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

Morningstar Rating is for the share class indicated only (see ticker); other share classes may have different performance characteristics. The Ranking may reflect the waiver of all or a portion of the fund's fees. Without such waiver, the Rankings may have been lower. Past performance is no guarantee of future results.

© 2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Beginning July 1, 2015, the Fund’s investment management fees are subject to a performance adjustment, which could increase or reduce the investment management fees paid by the Fund. The prospect of a positive or negative performance adjustment may create an incentive for the Fund’s portfolio manager to take greater risks with the Fund’s portfolio. In addition, because performance adjustments are based upon past performance, a shareholder may pay a higher or lower management fee for performance that occurred prior to the shareholder’s investment in the Fund. The performance adjustment could increase the Investment Manager’s fee (and, in turn, the Subadvisor’s fee) even if the Fund’s shares lose value during the performance period provided that the Fund outperformed its benchmark index, and could decrease the Investment Manager’s fee (and, in turn, the Subadvsior’s fee) even if the Fund’s shares increase in value during the performance period provided that the Fund underperformed its benchmark index.

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