Class
N: ADBLX |
Class
I: ADLIX |
Class
Z: ADZIX |
Class
N: APINX |
Class
I: APCTX |
Class
Z: APCZX |
Class
N: ACWDX |
Class
I: ACWIX |
Class
Z: ACWZX |
Class
N: MCGFX |
Class
I: MCGIX |
|
|
3 | |
3 | |
8 | |
12 | |
16 | |
|
|
20 | |
20 | |
22 | |
24 | |
26 | |
28 | |
34 | |
35 | |
|
|
39 | |
39 | |
40 | |
40 | |
41 | |
41 | |
43 | |
46 | |
47 | |
|
|
49 | |
49 | |
51 | |
53 | |
55 | |
|
|
56 |
|
Class
N |
Class
I |
Class
Z |
Management
Fee |
% |
% |
% |
Distribution
and Service (12b-1)
Fees |
% |
|
|
Other
Expenses |
% |
% |
% |
Total
Annual Fund Operating
Expenses |
% |
% |
% |
Fee
Waiver and Expense Reimbursements1 |
( |
( |
( |
Total
Annual Fund Operating
Expenses
After Fee Waiver and Expense
Reimbursements1 |
% |
% |
% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
N |
$ |
$ |
$ |
$ |
Class
I |
$ |
$ |
$ |
$ |
Class
Z |
$ |
$ |
$ |
$ |
Average
Annual Total Returns as of
12/31/23 | ||||
AMG
Beutel Goodman Core
Plus
Bond Fund |
1
Year |
5
Years |
10
Years |
Since
Inception1
|
Class
N
Return
Before Taxes |
|
|
|
|
Class
N
Return
After Taxes on
Distributions |
|
- |
|
|
Class
N
Return
After Taxes on
Distributions
and Sale of
Fund
Shares |
|
- |
|
|
Class
I
Return
Before Taxes |
|
|
|
|
Class
Z
Return
Before Taxes |
|
|
|
|
Bloomberg
US Aggregate Bond
Index
(reflects
no deduction for
fees,
expenses, or taxes) |
|
|
|
|
|
Class
N |
Class
I |
Class
Z |
Management
Fee |
% |
% |
% |
Distribution
and Service (12b-1)
Fees |
% |
|
|
Other
Expenses1 |
% |
% |
% |
Total
Annual Fund Operating
Expenses |
% |
% |
% |
Fee
Waiver and Expense Reimbursements2 |
( |
( |
( |
Total
Annual Fund Operating
Expenses
After Fee Waiver and Expense
Reimbursements2 |
% |
% |
% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
N |
$ |
$ |
$ |
$ |
Class
I |
$ |
$ |
$ |
$ |
Class
Z |
$ |
$ |
$ |
$ |
Average
Annual Total Returns as of
12/31/23 | |||
AMG
Beutel Goodman International
Equity
Fund |
1
Year |
5
Years |
Since
Inception |
Class
N
Return
Before Taxes |
|
|
|
Class
N
Return
After Taxes on Distributions |
|
|
|
Class
N
Return
After Taxes on Distributions and
Sale
of Fund Shares |
|
|
|
Class
I
Return
Before Taxes |
|
|
|
Class
Z
Return
Before Taxes |
|
|
|
MSCI
EAFE Index
(reflects
no deduction for fees, expenses,
or
taxes) |
|
|
|
MSCI
EAFE Index
(reflects
no deduction for fees, expenses,
or
taxes) |
|
|
|
|
Class
N |
Class
I |
Class
Z |
Management
Fee |
% |
% |
% |
Distribution
and Service (12b-1)
Fees |
% |
|
|
Other
Expenses1 |
% |
% |
% |
Total
Annual Fund Operating
Expenses |
% |
% |
% |
Fee
Waiver and Expense Reimbursements2 |
( |
( |
( |
Total
Annual Fund Operating
Expenses
After Fee Waiver and Expense
Reimbursements2
|
% |
% |
% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
N |
$ |
$ |
$ |
$ |
Class
I |
$ |
$ |
$ |
$ |
Class
Z |
$ |
$ |
$ |
$ |
Average
Annual Total Returns as of
12/31/23 | ||||
AMG
GW&K Small/Mid
Cap
Growth Fund |
1
Year |
5
Years |
10
Years |
Since
Inception1
|
Class
N
Return
Before Taxes |
|
|
|
|
Class
N
Return
After Taxes on
Distributions |
|
|
|
|
Class
N
Return
After Taxes on
Distributions
and Sale of
Fund
Shares |
|
|
|
|
Class
I
Return
Before Taxes |
|
|
|
|
Class
Z
Return
Before Taxes |
|
|
|
- |
Russell
2500™ Growth Index
(reflects
no deduction for
fees,
expenses, or taxes) |
|
|
|
- |
|
Class
N |
Class
I |
Management
Fee |
% |
% |
Distribution
and Service (12b-1) Fees |
% |
|
Other
Expenses1 |
% |
% |
Total
Annual Fund Operating Expenses |
% |
% |
Fee
Waivers and Expense Reimbursements2 |
( |
( |
Total
Annual Fund Operating Expenses After Fee
Waiver and Expense Reimbursements2 |
% |
% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
N |
$ |
$ |
$ |
$ |
Class
I |
$ |
$ |
$ |
$ |
Average
Annual Total Returns as of
12/31/23 | |||
AMG
Montrusco Bolton Large Cap
Growth
Fund |
1
Year |
5
Years |
10
Years |
Class
N
Return
Before Taxes |
|
|
|
Class
N
Return
After Taxes on Distributions |
|
|
|
Class
N
Return
After Taxes on Distributions and
Sale
of Fund Shares |
|
|
|
Average
Annual Total Returns as of 12/31/23 (continued) | |||
AMG
Montrusco Bolton Large Cap
Growth
Fund |
1
Year |
5
Years |
10
Years |
Class
I
Return
Before Taxes |
|
|
|
S&P
500® Growth Index
(reflects
no deduction for fees,
expenses,
or taxes) |
|
|
|
|
AMG
Beutel
Goodman
Core
Plus
Bond
Fund |
AMG
Beutel
Goodman
International
Equity
Fund |
AMG
GW&K
Small/Mid
Cap
Growth
Fund |
AMG
Montrusco
Bolton
Large
Cap
Growth
Fund |
Asset-Backed
and Mortgage-Backed Securities Risk |
X |
|
|
|
Call
Risk |
X |
|
|
|
Changing
Distribution Level Risk |
X |
|
|
|
Credit
and Counterparty Risk |
X |
|
|
|
Currency
Risk |
X |
X |
|
|
Debt
Securities Risk |
X |
|
|
|
Derivatives
Risk |
X |
|
|
|
Emerging
Markets Risk |
X |
X |
|
|
ESG
Investing Risk |
X |
X |
|
X |
Extension
Risk |
X |
|
|
|
Focused
Investment Risk |
|
X |
|
X |
Foreign
Investment Risk |
X |
X |
|
|
GARP
Style Risk |
|
|
|
X |
Growth
Stock Risk |
|
|
X |
X |
Hedging
Risk |
X |
|
|
|
High
Portfolio Turnover Risk |
X |
|
|
|
High
Yield Risk |
X |
|
|
|
Inflation/Deflation
Risk |
X |
|
|
|
Interest
Rate Risk |
X |
|
|
|
Large-Capitalization
Stock Risk |
|
X |
|
X |
Liquidity
Risk |
X |
X |
X |
|
Management
Risk |
X |
X |
X |
X |
Market
Risk |
X |
X |
X |
X |
Model
and Data Risk |
X |
|
|
|
Municipal
Market Risk |
X |
|
|
|
Non-Diversified
Fund Risk |
|
X |
|
X |
Policy
Risk |
X |
|
|
|
Prepayment
Risk |
X |
|
|
|
Reinvestment
Risk |
X |
|
|
|
Restricted
Securities Risk |
X |
|
|
|
Sector
Risk |
|
X |
X |
X |
Small-
and Mid-Capitalization Stock Risk |
|
X |
X |
|
|
AMG
Beutel
Goodman
Core
Plus
Bond
Fund |
AMG
Beutel
Goodman
International
Equity
Fund |
AMG
GW&K
Small/Mid
Cap
Growth
Fund |
AMG
Montrusco
Bolton
Large
Cap
Growth
Fund |
U.S.
Government Securities Risk |
X |
|
|
|
Value
Stock Risk |
|
X |
|
X |
AMG
Beutel Goodman Core Plus Bond Fund | |
Derek
Brown, CFA |
Portfolio
Manager of the Fund since March 2021. Mr. Brown joined Beutel Goodman in
2016, is a Senior Vice President,
Head
of Fixed Income, and has over 15 years of investment experience. He is a
portfolio manager and head of the fixed
income
team. His strategic responsibilities include portfolio duration,
positioning and risk exposure management. Prior to
joining
Beutel Goodman, Mr. Brown worked at Fiera Capital where he was a fixed
income portfolio manager. He is a
graduate
of Concordia University, McGill University and a CFA
charterholder. |
Sue
McNamara, CFA |
Portfolio
Manager of the Fund since March 2021. Ms. McNamara joined Beutel Goodman
in 2006, is a Senior Vice
President,
Fixed Income, Head of Responsible Investing & Head of Credit, and has
over 30 years of investment experience.
She
is a portfolio manager and strategist with additional responsibilities for
credit analysis and product design. Prior to
joining
Beutel Goodman, Ms. McNamara worked as a Research Analyst for several of
the large brokerage houses, most
recently
at BMO Nesbitt Burns. She is a graduate of the University of Western
Ontario and is a CFA charterholder. |
Neil
McCabe, CFA |
Portfolio
Manager of the Fund since March 2021. Mr. McCabe joined Beutel Goodman in
2019, is Vice President, Fixed
Income,
and has over 15 years of investment experience, especially in the area of
high-yield credit. Prior to joining Beutel
Goodman,
he worked as a portfolio manager for Fiera Capital. Mr. McCabe is a
graduate of McMaster University and IESE
Business
School and is a CFA charterholder. |
AMG
Beutel Goodman International Equity Fund | |
Stanley
Wu, CFA |
Portfolio
Manager of the Fund since March 2021. Mr. Wu joined Beutel Goodman in
2016, is Vice President, U.S. and
International
Equities, and has over 20 years of investment experience. He is a
portfolio manager and research analyst
specializing
in U.S. and global equities. Most recently, Mr. Wu worked at Jarislowsky
Fraser as co-manager of their
international
and global equity strategies and was involved in oversight of the firm’s
research process. Previous to that, he was
an
equity analyst at Letko Brosseau & Associates. Mr. Wu is a graduate of
McGill University, the Chinese Academy of
Sciences
and Zhejiang University. He is also a CFA
Charterholder. |
KC
Parker, CFA |
Portfolio
Manager of the Fund since March 2021. Mr. Parker joined Beutel Goodman in
2006, is Vice President, U.S. and
International
Equities, and has over 15 years of investment experience. He is a
portfolio manager and research analyst
specializing
in U.S. and global equities. Prior to joining Beutel Goodman, Mr. Parker
was senior partner in an Ottawa-based
technology
firm. He is a graduate of Simon Fraser University and a CFA
charterholder. |
AMG
GW&K Small/Mid Cap Growth Fund | |
Daniel
L. Miller, CFA |
Portfolio
Manager of the Fund since March 2021. Mr. Miller joined GW&K in
December 2008 as Partner and Director of
Equities,
responsible for overseeing all aspects of GW&K’s equity group,
including portfolio management, research and
trading.
He is a member of GW&K’s Investment Committee. Mr. Miller spent 21
years at Putnam Investments,where he was
Chief
Investment Officer for the Specialty Growth Group from 1996 to 2004. After
retiring from Putnam Investments in 2004,
Mr.
Miller worked as an investment consultant and financial consultant for
various companies from 2004 to 2008, until he
joined
GW&K. |
Joseph
C. Craigen, CFA |
Portfolio
Manager of the Fund since March 2021. Mr. Craigen joined GW&K in 2008
and is a Partner and Equity Portfolio
Manager.
He is a member of the GW&K Equity team analyzing small and mid cap
companies and is also a member of the
firm’s
Investment Committee. Prior to joining GW&K, Mr. Craigen held research
analyst positions at Citizens Funds and
Needham
& Company, and was a research associate at Tucker
Anthony. |
AMG
Montrusco Bolton Large Cap Growth Fund | |
Jean
David Meloche, CFA |
Lead
Portfolio Manager of the Fund; Portfolio Manager of the Fund since March
2021. Mr. Meloche is Head of Global and
U.S.
Equities at Montrusco Bolton and is the lead portfolio manager for
Montrusco Bolton’s U.S. equity and global equity
strategies.
He joined Montrusco Bolton in January 2005 as an equity analyst, covering
the financial sector. Mr. Meloche holds
a
Bachelor of Business Administration specialized in Finance from HEC
Montréal. In addition, he holds the Chartered
Financial
Analyst designation
(CFA). |
Robert
Hiscock, CFA |
Portfolio
Manager of the Fund since March 2024. Mr. Hiscock is Portfolio Manager at
Montrusco Bolton. Prior to joining
Montrusco
Bolton in 2015, Mr. Hiscock worked as a senior analyst modeling credit
risk at National Bank and as an economic
consultant
for Analysis Group. In addition to earning a Bachelor of Engineering
Physics from Queen’s University, he has
obtained
a Master of Economics from McGill University and holds the Chartered
Financial Analyst designation
(CFA). |
|
If
you wish to open an account
and
buy shares*... |
If
you wish to add shares to your
account*... |
If
you wish to sell shares*†... |
Through
your registered
investment
professional: |
Contact
your investment advisor or
other
investment professional |
Send
any additional monies to your
investment
professional to the
address
on your account statement |
Contact
your investment advisor or
other
investment professional |
On
your own:
By
mail |
Complete
the account application,
then
mail the application and a
check
payable to AMG Funds to: AMG
Funds
c/o
BNY Mellon Investment Servicing
(US)
Inc.
P.O.
Box 534426
Pittsburgh,
PA 15253-4426 |
Send
a letter of instruction and a
check
payable to AMG Funds to: AMG
Funds
c/o
BNY Mellon Investment Servicing
(US)
Inc.
P.O.
Box 534426
Pittsburgh,
PA 15253-4426 (Include
your account number and
Fund
name on your check) |
Write
a letter of instruction containing: • Name
of the Fund • Dollar
amount or number of
shares
you wish to sell • Your
name • Your
account number • Signatures
of all account owners Mail
your letter to: AMG
Funds
c/o
BNY Mellon Investment
Servicing
(US) Inc.
P.O.
Box 534426
Pittsburgh,
PA 15253-4426 |
By
telephone |
Not
available |
If
your account has already been
established,
call the transfer agent at
800.548.4539 |
If
you elected telephone redemption
privileges
on your account application,
call
us at 800.548.4539. Telephone
redemptions
are available only for
redemptions
of less than $100,000 for
Class
N shares and Class I shares and
less
than $250,000 for Class Z shares. |
Over
the Internet |
Not
available |
If
your account has already been
established
and ACH banking
instructions
are on file, go to our
website
at wealth.amg.com |
Go
to our website at wealth.amg.com.
Internet
redemptions are available only
for
redemptions of less than $100,000
for
Class N shares and Class I shares
and
less than $250,000 for Class Z
shares. |
By
bank wire |
Call
us at 800.548.4539 for
instructions |
Call
us at 800.548.4539 for
instructions |
Available
if bank wire instructions are
on
file for your account. |
|
Initial
Investment |
Additional
Investments |
Class
N: |
|
|
• Regular
Accounts |
$2,000 |
$100 |
• Individual
Retirement Accounts |
$1,000 |
$100 |
Class
I: |
|
|
• Regular
Accounts |
$100,000 |
$100 |
• Individual
Retirement Accounts |
$25,000 |
$100 |
Class
Z: |
|
|
• Regular
Accounts |
$5,000,000 |
$1,000 |
• Individual
Retirement Accounts (Direct Accounts Only) |
$50,000 |
$1,000 |
|
For
the fiscal years ended October 31, | ||||
Class
N |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$8.69 |
$10.72 |
$10.76 |
$10.74 |
$10.23 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.32 |
0.24 |
0.20 |
0.27 |
0.34 |
Net
realized and unrealized gain (loss) on investments |
(0.36
) |
(1.97
) |
0.03 |
0.05 |
0.53 |
Total
income (loss) from investment operations |
(0.04
) |
(1.73
) |
0.23 |
0.32 |
0.87 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.36
) |
(0.30
) |
(0.27
) |
(0.30
) |
(0.36
) |
Net
Asset Value, End of Year |
$8.29 |
$8.69 |
$10.72 |
$10.76 |
$10.74 |
Total
Return2,3 |
(0.68
)% |
(16.41
)% |
2.19
% |
3.01
% |
8.67
% |
Ratio
of net expenses to average net assets |
0.68
% |
0.68
% |
0.83
% |
0.94
% |
0.94
% |
Ratio
of gross expenses to average net assets4 |
0.77
% |
0.72
% |
0.90
% |
1.01
% |
1.02
% |
Ratio
of net investment income to average net assets2 |
3.56
% |
2.47
% |
1.85
% |
2.54
% |
3.24
% |
Portfolio
turnover |
114
% |
76
% |
174
% |
96
% |
47
% |
Net
assets end of Year (000's) omitted |
$15,787 |
$22,706 |
$37,301 |
$56,175 |
$82,856 |
|
For
the fiscal years ended October 31, | ||||
Class
I |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$8.69 |
$10.71 |
$10.75 |
$10.74 |
$10.23 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.33 |
0.26 |
0.22 |
0.30 |
0.37 |
Net
realized and unrealized gain (loss) on investments |
(0.36
) |
(1.96
) |
0.04 |
0.03 |
0.53 |
Total
income (loss) from investment operations |
(0.03
) |
(1.70
) |
0.26 |
0.33 |
0.90 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.38
) |
(0.32
) |
(0.30
) |
(0.32
) |
(0.39
) |
Net
Asset Value, End of Year |
$8.28 |
$8.69 |
$10.71 |
$10.75 |
$10.74 |
Total
Return2,3 |
(0.60
)% |
(16.17
)% |
2.44
% |
3.17
% |
8.94
% |
Ratio
of net expenses to average net assets |
0.48
% |
0.48
% |
0.60
% |
0.69
% |
0.69
% |
Ratio
of gross expenses to average net assets4 |
0.57
% |
0.52
% |
0.67
% |
0.76
% |
0.77
% |
Ratio
of net investment income to average net assets2 |
3.76
% |
2.67
% |
2.08
% |
2.79
% |
3.49
% |
Portfolio
turnover |
114
% |
76
% |
174
% |
96
% |
47
% |
Net
assets end of Year (000's) omitted |
$105,483 |
$137,592 |
$218,278 |
$433,881 |
$585,358 |
|
For
the fiscal years ended October 31, | ||||
Class
Z |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$8.69 |
$10.72 |
$10.76 |
$10.74 |
$10.24 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.34 |
0.27 |
0.23 |
0.31 |
0.38 |
Net
realized and unrealized gain (loss) on investments |
(0.36
) |
(1.98
) |
0.04 |
0.04 |
0.52 |
Total
income (loss) from investment operations |
(0.02
) |
(1.71
) |
0.27 |
0.35 |
0.90 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.38
) |
(0.32
) |
(0.31
) |
(0.33
) |
(0.40
) |
Net
Asset Value, End of Year |
$8.29 |
$8.69 |
$10.72 |
$10.76 |
$10.74 |
Total
Return2,3 |
(0.43
)% |
(16.20
)% |
2.51
% |
3.35
% |
8.91
% |
Ratio
of net expenses to average net assets |
0.43
% |
0.43
% |
0.53
% |
0.61
% |
0.61
% |
Ratio
of gross expenses to average net assets4 |
0.52
% |
0.47
% |
0.60
% |
0.68
% |
0.69
% |
Ratio
of net investment income to average net assets2 |
3.81
% |
2.72
% |
2.15
% |
2.87
% |
3.57
% |
Portfolio
turnover |
114
% |
76
% |
174
% |
96
% |
47
% |
Net
assets end of Year (000's) omitted |
$1,624 |
$10,566 |
$11,864 |
$10,684 |
$2,473 |
1 |
Per
share numbers have been calculated using average
shares. |
2 |
Total
returns and net investment income would have been lower had certain
expenses not been offset. |
3 |
The
total return is calculated using the published Net Asset Value as of
fiscal year end. |
4 |
Excludes
the impact of expense reimbursement or fee waivers and expense
reductions such as brokerage credits, but includes expense repayments
and
non-reimbursable expenses, if any, such as interest, taxes, and
extraordinary expenses. |
|
For
the fiscal years ended October 31, | ||||
Class
N |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$8.33 |
$11.16 |
$8.23 |
$9.56 |
$9.90 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.21 |
0.19 |
0.08 |
0.07
3 |
0.07 |
Net
realized and unrealized gain (loss) on investments |
1.08 |
(3.02
) |
2.85 |
(1.17
) |
0.56 |
Total
income (loss) from investment operations |
1.29 |
(2.83
) |
2.93 |
(1.10
) |
0.63 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.35
) |
— |
— |
(0.23
) |
(0.20
) |
Net
realized gain on investments |
— |
— |
— |
— |
(0.77
) |
Total
distributions to shareholders |
(0.35
) |
— |
— |
(0.23
) |
(0.97
) |
Net
Asset Value, End of Year |
$9.27 |
$8.33 |
$11.16 |
$8.23 |
$9.56 |
Total
Return2,4 |
15.63
%5 |
(25.36
)%5 |
35.60
% |
(11.83
)% |
8.34
% |
Ratio
of net expenses to average net assets |
1.17
%6 |
1.18
%6 |
1.27
% |
1.31
% |
1.32
% |
Ratio
of gross expenses to average net assets7 |
1.92
% |
1.34
% |
1.38
% |
1.35
% |
1.32
% |
Ratio
of net investment income to average net assets2 |
2.16
% |
1.88
% |
0.73
% |
0.77
% |
0.78
% |
Portfolio
turnover |
8
% |
23
% |
152
% |
43
% |
28
% |
Net
assets end of Year (000's) omitted |
$1,133 |
$1,988 |
$5,035 |
$6,792 |
$87,998 |
|
For
the fiscal years ended October 31, | ||||
Class
I |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$8.22 |
$11.21 |
$8.28 |
$9.62 |
$9.93 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.23 |
0.22 |
0.11 |
0.09
3 |
0.09 |
Net
realized and unrealized gain (loss) on investments |
1.06 |
(2.98
) |
2.87 |
(1.16
) |
0.57 |
Total
income (loss) from investment operations |
1.29 |
(2.76
) |
2.98 |
(1.07
) |
0.66 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.37
) |
(0.23
) |
(0.05
) |
(0.27
) |
(0.20
) |
Net
realized gain on investments |
— |
— |
— |
— |
(0.77
) |
Total
distributions to shareholders |
(0.37
) |
(0.23
) |
(0.05
) |
(0.27
) |
(0.97
) |
Net
Asset Value, End of Year |
$9.14 |
$8.22 |
$11.21 |
$8.28 |
$9.62 |
Total
Return2,4 |
15.93
%5 |
(25.10
)%5 |
36.19
% |
(11.63
)% |
8.65
% |
Ratio
of net expenses to average net assets |
0.87
%6 |
0.88
%6 |
0.97
% |
1.02
% |
1.07
% |
Ratio
of gross expenses to average net assets7 |
1.62
% |
1.04
% |
1.08
% |
1.06
% |
1.07
% |
Ratio
of net investment income to average net assets2 |
2.46
% |
2.18
% |
1.03
% |
1.06
% |
1.03
% |
Portfolio
turnover |
8
% |
23
% |
152
% |
43
% |
28
% |
Net
assets end of Year (000's) omitted |
$7,620 |
$10,686 |
$56,129 |
$166,994 |
$158,317 |
|
For
the fiscal years ended October 31, | ||||
Class
Z |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$8.18 |
$11.18 |
$8.26 |
$9.60 |
$9.91 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.24 |
0.22 |
0.12 |
0.10
3 |
0.10 |
Net
realized and unrealized gain (loss) on investments |
1.05 |
(2.96
) |
2.86 |
(1.16
) |
0.57 |
Total
income (loss) from investment operations |
1.29 |
(2.74
) |
2.98 |
(1.06
) |
0.67 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.39
) |
(0.26
) |
(0.06
) |
(0.28
) |
(0.21
) |
Net
realized gain on investments |
— |
— |
— |
— |
(0.77
) |
Total
distributions to shareholders |
(0.39
) |
(0.26
) |
(0.06
) |
(0.28
) |
(0.98
) |
Net
Asset Value, End of Year |
$9.08 |
$8.18 |
$11.18 |
$8.26 |
$9.60 |
Total
Return2,4 |
16.04
%5 |
(25.07
)%5 |
36.28
% |
(11.56
)% |
8.84
% |
Ratio
of net expenses to average net assets |
0.77
%6 |
0.78
%6 |
0.87
% |
0.92
% |
0.96
% |
Ratio
of gross expenses to average net assets7 |
1.52
% |
0.94
% |
0.98
% |
0.96
% |
0.96
% |
Ratio
of net investment income to average net assets2 |
2.56
% |
2.28
% |
1.13
% |
1.16
% |
1.14
% |
Portfolio
turnover |
8
% |
23
% |
152
% |
43
% |
28
% |
Net
assets end of Year (000's) omitted |
$1,840 |
$2,312 |
$4,559 |
$11,692 |
$49,054 |
1 |
Per
share numbers have been calculated using average
shares. |
2 |
Total
returns and net investment income would have been lower had certain
expenses not been offset. |
3 |
Includes
non-recurring dividends. Without these dividends, net investment income
per share would have been $0.04, $0.06, and $0.07 for Class N,
Class
I, and Class Z shares, respectively. |
4 |
The
total return is calculated using the published Net Asset Value as of
fiscal year end. |
5 |
Includes
a non-recurring securities litigation gain. Had the Fund not received the
payments total returns would have been 12.88%, 13.27% and
13.23%,
for Class N, Class I and Class Z, respectively, for the fiscal year ended
October 31, 2023, and (26.61)%, (28.11)% and (26.17)%, for
Class
N, Class I and Class Z, respectively, for the fiscal year ended October
31, 2022. |
6 |
Includes
interest expense totaling 0.01% and 0.02% for the fiscal years ended
October 31, 2023 and 2022, respectively, related to participation in
the
interfund lending program. |
7 |
Excludes
the impact of expense reimbursement or fee waivers and expense
reductions such as brokerage credits, but includes expense repayments
and
non-reimbursable expenses, if any, such as interest, taxes, and
extraordinary expenses. |
|
For
the fiscal years ended October 31, | ||||
Class
N |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$13.45 |
$17.67 |
$21.14 |
$17.02 |
$16.90 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment loss1,2 |
(0.04
) |
(0.08
) |
(0.17
) |
(0.17
) |
(0.08
) |
Net
realized and unrealized gain (loss) on investments |
0.19 |
(4.14
) |
7.74 |
4.29 |
0.20 |
Total
income (loss) from investment operations |
0.15 |
(4.22
) |
7.57 |
4.12 |
0.12 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
realized gain on investments |
(0.27
) |
— |
(10.55
) |
— |
— |
Paid
in capital |
— |
— |
(0.49
) |
— |
— |
Total
distributions to shareholders |
(0.27
) |
— |
(11.04
) |
— |
— |
Net
Asset Value, End of Year |
$13.33 |
$13.45 |
$17.67 |
$21.14 |
$17.02 |
Total
Return2,3 |
1.12
% |
(23.88
)%4 |
46.66
% |
24.27
% |
0.71
% |
Ratio
of net expenses to average net assets5 |
1.00
% |
1.00
% |
1.17
% |
1.29
%6 |
1.30
% |
Ratio
of gross expenses to average net assets7 |
1.24
% |
1.25
% |
1.42
% |
1.60
% |
1.47
% |
Ratio
of net investment loss to average net assets2 |
(0.28
)% |
(0.56
)% |
(0.91
)% |
(0.92
)% |
(0.48
)% |
Portfolio
turnover |
25
% |
23
% |
158
% |
126
% |
138
% |
Net
assets end of Year (000's) omitted |
$27,120 |
$24,994 |
$37,471 |
$28,908 |
$30,717 |
|
For
the fiscal years ended October 31, | ||||
Class
I |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$14.01 |
$18.39 |
$21.60 |
$17.35 |
$17.20 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment loss1,2 |
(0.02
) |
(0.06
) |
(0.15
) |
(0.14
) |
(0.05
) |
Net
realized and unrealized gain (loss) on investments |
0.21 |
(4.32
) |
7.98 |
4.39 |
0.20 |
Total
income (loss) from investment operations |
0.19 |
(4.38
) |
7.83 |
4.25 |
0.15 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
realized gain on investments |
(0.27
) |
— |
(10.55
) |
— |
— |
Paid
in capital |
— |
— |
(0.49
) |
— |
— |
Total
distributions to shareholders |
(0.27
) |
— |
(11.04
) |
— |
— |
Net
Asset Value, End of Year |
$13.93 |
$14.01 |
$18.39 |
$21.60 |
$17.35 |
Total
Return2,3 |
1.36
% |
(23.82
)%4 |
46.94
% |
24.48
% |
0.93
% |
Ratio
of net expenses to average net assets5 |
0.86
% |
0.86
% |
1.02
% |
1.10
%6 |
1.10
% |
Ratio
of gross expenses to average net assets7 |
1.10
% |
1.11
% |
1.27
% |
1.41
% |
1.27
% |
Ratio
of net investment loss to average net assets2 |
(0.14
)% |
(0.42
)% |
(0.76
)% |
(0.73
)% |
(0.28
)% |
Portfolio
turnover |
25
% |
23
% |
158
% |
126
% |
138
% |
Net
assets end of Year (000's) omitted |
$7,561 |
$6,540 |
$6,612 |
$6,483 |
$14,608 |
|
For
the fiscal
year
ended
October
31, |
For
the fiscal
period
ended
October
31, | |
Class
Z |
2023 |
2022 |
20218 |
Net
Asset Value, Beginning of Period |
$14.02 |
$18.39 |
$17.84 |
Income
(loss) from Investment Operations: |
|
|
|
Net
investment loss1,2 |
(0.01
) |
(0.06
) |
(0.01
) |
Net
realized and unrealized gain (loss) on investments |
0.21 |
(4.31
) |
0.56 |
Total
income (loss) from investment operations |
0.20 |
(4.37
) |
0.55 |
Less
Distributions to Shareholders from: |
|
|
|
Net
realized gain on investments |
(0.27
) |
— |
— |
Net
Asset Value, End of Period |
$13.95 |
$14.02 |
$18.39 |
Total
Return2,3 |
1.43
% |
(23.76
)%4 |
3.08
%9 |
Ratio
of net expenses to average net assets10 |
0.81
% |
0.81
% |
0.82
%11 |
Ratio
of gross expenses to average net assets7 |
1.05
% |
1.06
% |
1.13
%11 |
Ratio
of net investment loss to average net assets2 |
(0.09
)% |
(0.37
)% |
(0.49
)%11 |
Portfolio
turnover |
25
% |
23
% |
158
% |
Net
assets end of Period (000's) omitted |
$24 |
$12 |
$15 |
1 |
Per
share numbers have been calculated using average
shares. |
2 |
Total
returns and net investment loss would have been lower had certain expenses
not been offset. |
3 |
The
total return is calculated using the published Net Asset Value as of
fiscal year end. |
4 |
Includes
a non-recurring securities litigation gain. Had the Fund not received the
payment total return would have been (24.68%), (24.53%) and
(24.53%)
for Class N, Class I and Class Z
respectively. |
5 |
Includes
reduction from broker recapture amounting to 0.01%, 0.01%, less than
0.01%, 0.01% and less than 0.01% for the fiscal years ended
2023,
2022, 2021, 2020 and 2019, respectively. |
6 |
Includes
interest expense of less than 0.01% related to participation in the
interfund lending program. |
7 |
Excludes
the impact of expense reimbursement or fee waivers and expense
reductions such as brokerage credits, but includes expense repayments
and
non-reimbursable expenses, if any, such as interest, taxes, and
extraordinary expenses. |
8 |
Commencement
of operations was on August 31, 2021. |
9 |
Not
annualized. |
10 |
Includes
reduction from broker recapture amounting to 0.01% and 0.01% for the
fiscal years ended 2023 and 2022, respectively, and less than
0.01%
for the fiscal period ended October 31, 2021. |
11 |
Annualized. |
|
For
the fiscal years ended October 31, | ||||
Class
N |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$10.00 |
$17.05 |
$21.50 |
$19.34 |
$20.52 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income (loss)1,2 |
0.02 |
(0.00
)3 |
(0.07
) |
(0.06
) |
(0.02
) |
Net
realized and unrealized gain (loss) on investments |
1.55 |
(3.26
) |
6.17 |
3.92 |
2.74 |
Total
income (loss) from investment operations |
1.57 |
(3.26
) |
6.10 |
3.86 |
2.72 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.00
)3 |
— |
— |
— |
— |
Net
realized gain on investments |
(0.99
) |
(3.79
) |
(10.55
) |
(1.70
) |
(3.90
) |
Total
distributions to shareholders |
(0.99
) |
(3.79
) |
(10.55
) |
(1.70
) |
(3.90
) |
Net
Asset Value, End of Year |
$10.58 |
$10.00 |
$17.05 |
$21.50 |
$19.34 |
Total
Return2,4 |
17.14
% |
(25.18
)% |
39.50
% |
21.36
% |
18.29
% |
Ratio
of net expenses to average net assets |
0.92
%5 |
0.91
% |
1.07
%6 |
1.16
%6 |
1.16
%6 |
Ratio
of gross expenses to average net assets7 |
0.98
% |
0.94
% |
1.09
% |
1.16
% |
1.17
% |
Ratio
of net investment income (loss) to average net assets2 |
0.18
% |
(0.02
)% |
(0.39
)% |
(0.30
)% |
(0.10
)% |
Portfolio
turnover |
77
% |
68
% |
109
% |
30
% |
20
% |
Net
assets end of Year (000's) omitted |
$115,248 |
$113,790 |
$175,468 |
$166,051 |
$166,353 |
|
For
the fiscal years ended October 31, | ||||
Class
I |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$10.25 |
$17.36 |
$21.69 |
$19.46 |
$20.62 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income (loss)1,2 |
0.04 |
0.02 |
(0.04
) |
(0.03
) |
0.01 |
Net
realized and unrealized gain (loss) on investments |
1.59 |
(3.34
) |
6.26 |
3.96 |
2.76 |
Total
income (loss) from investment operations |
1.63 |
(3.32
) |
6.22 |
3.93 |
2.77 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.03
) |
— |
— |
— |
(0.03
) |
Net
realized gain on investments |
(0.99
) |
(3.79
) |
(10.55
) |
(1.70
) |
(3.90
) |
Total
distributions to shareholders |
(1.02
) |
(3.79
) |
(10.55
) |
(1.70
) |
(3.93
) |
Net
Asset Value, End of Year |
$10.86 |
$10.25 |
$17.36 |
$21.69 |
$19.46 |
Total
Return2,4 |
17.27
% |
(25.05
)% |
39.78
% |
21.60
% |
18.49
% |
Ratio
of net expenses to average net assets |
0.74
%5 |
0.73
% |
0.92
%6 |
0.99
%6 |
0.98
%6 |
Ratio
of gross expenses to average net assets7 |
0.80
% |
0.76
% |
0.94
% |
0.99
% |
0.99
% |
Ratio
of net investment income (loss) to average net assets2 |
0.36
% |
0.16
% |
(0.24
)% |
(0.13
)% |
0.08
% |
Portfolio
turnover |
77
% |
68
% |
109
% |
30
% |
20
% |
Net
assets end of Year (000's) omitted |
$74,169 |
$88,895 |
$167,415 |
$309,638 |
$329,225 |
1 |
Per
share numbers have been calculated using average
shares. |
2 |
Total
returns and net investment income (loss) would have been lower had certain
expenses not been offset. |
3 |
Less
than $(0.005) per share. |
4 |
The
total return is calculated using the published Net Asset Value as of
fiscal year end. |
5 |
Includes
interest expense totaling 0.01% related to participation in the
interfund lending program. |
6 |
Includes
reduction from broker recapture amounting to less than 0.01%, less than
0.01%, and 0.01% for the fiscal years ended 2021, 2020 and
2019,
respectively. |
7 |
Excludes
the impact of expense reimbursement or fee waivers and expense
reductions such as brokerage credits, but includes expense repayments
and
non-reimbursable expenses, if any, such as interest, taxes, and
extraordinary expenses. |