AMG GW&K Small Cap Core Fund Class N (GWETX) Class I (GWEIX) Class Z (GWEZX) September 2018

Transcription

1 Class N (GWETX) Class I (GWEIX) Class Z (GWEZX) September 2018 FOR INVESTMENT PROFESSIONAL USE ONLY NOT FOR DISTRIBUTION TO OR USE WITH THE GENERAL PUBLIC

2 QUARTERLY PERFORMANCE () AND EXPENSE RATIOS as of 09/30/2018 Inception Date 1 Mo. Previous Quarter YTD 1 Year 3 Years 5 years 10 Years Life of Fund Gross/Net Expense Ratio () N Share Class (GWETX) 12/10/ /1.30 I Share Class (GWEIX) 07/27/ /0.94 Z Share Class (GWEZX) 02/24/ /0.90 Russell 2000 Index The performance data shown represents past performance. Past performance 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. For performance information through the most recent month end please call or visit our website at amgfunds.com. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns of the Fund are net of expenses, and the returns of the indices exclude expenses. The Fund's Investment Manager has contractually agreed, through at least May 1, 2019, 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. 1Since the inception of the Class N shares on 12/10/1996. CALENDAR YEAR RETURNS Previous 10 years ending 12/31/ GWETX GWEIX Benchmark Share Class N (GWETX) Share Class I (GWEIX) Benchmark: Russell 2000 Index See important disclosures in the "Disclosures" section starting on the last or second to last page of this supplement.

3 MPT STATISTICS GWETX Benchmark: Russell 2000 Index 3 Years 5 Years 10 Years Fund Benchmark Fund Benchmark Fund Benchmark Alpha Standard Deviation Sharpe Ratio Information Ratio Treynor Ratio () Upside Capture Ratio () Downside Capture Ratio () Beta R-Squared Tracking Error () Max Drawdown See important disclosures in the "Disclosures" section starting on the last or second to last page of this supplement.

4 SECTOR ALLOCATION (EQUITY) Sector Fund Russell 2000 Index Industrials Health Care Financials Financials Consumer Discretionary Industrials Information Technology Materials Real Estate Consumer Staples Consumer Discretionary Energy Utilities Communication Services Other Equities Health Care Information Technology Cash & Other The sector allocation chart represents sectors at least 5 Portfolio holdings are subject to change at any time.

5 TOP 10 INDUSTRIES VS BENCHMARK Industry Fund Russell 2000 Index Banks Health Care Equipment & Supplies Software Commercial Services & Supplies Machinery Equity Real Estate Investment Trusts (REITs) Specialty Retail IT Services Life Sciences Tools & Services Semiconductors & Semiconductor Equipment in Top 10 Industries Portfolio holdings are subject to change at any time.

6 PORTFOLIO CHARACTERISTICS (EQUITY) Holdings Fund Russell 2000 Index Fund Assets (Mil.$) $604 Number of Holdings Weighted Avg. Market Cap (Mil.$) $3,575 $2,459 Median Market Cap (Mil.$) $2,912 $951 Weighted Avg. P/E (1-yr Forward EPS) Weighted Avg. P/E (Trailing EPS) PEG Ratio Weighted Avg. P/B EPS Growth (Trailing 3-yr ) EPS Growth (Trailing 5-yr ) Forward EPS Growth (1-yr ) Forward EPS Growth (Long Term ) Revenue Growth (Trailing 5-yr ) Return on Equity Weighted Avg. Dividend Yield Debt to Equity Trailing 12-Months Portfolio Turnover See important disclosures in the "Disclosures" section starting on the last or second to last page of this supplement.

7 TOP HOLDINGS (EQUITY) TOP 10 CONTRIBUTORS TOP 10 DETRACTORS ICU Medical Inc 2.91 Fund Holdings Avg. Weight Total Return Fund Holdings Avg. Weight Total Return Grand Canyon Education Inc 2.77 Globus Medical Inc, Class A 2.30 Five Below Inc 2.26 EPAM Systems Inc 2.17 Matador Resources Co 2.07 Texas Roadhouse Inc, Class A 1.98 HubSpot Inc 1.96 Catalent Inc 1.94 Blackbaud Inc 1.76 in Top 10 Holdings Five Below, Inc HubSpot, Inc Cambrex Corporation Amneal Pharmaceuticals, Inc. Class A John Bean Technologies Corporation Globus Medical, Inc. Class A Helen of Troy Limited RBC Bearings Incorporated EPAM Systems, Inc LogMeIn, Inc Installed Building Products, Inc Diplomat Pharmacy, Inc Ameris Bancorp Lithia Motors, Inc. Class A Performance Food Group Company Central Garden & Pet Company Class A Texas Capital Bancshares, Inc Power Integrations, Inc Rogers Corporation Central Garden & Pet Company Portfolio holdings and characteristics are subject to change at any time. The Top 10 Contributors and Top 10 Detractors are determined based on the stock's contribution to the Fund's return during the specified quarter.

8 MARKET CAP Market Cap Fund Russell 2000 Index Market Cap ($mm) 0-1, Market Cap ($mm) 1,000-1, Market Cap ($mm) 1,500-2, Market Cap ($mm) 2,500-5, Market Cap ($mm) 5,000-10, Market Cap ($mm) 10,000-25,

9 DISCLOSURES & GLOSSARY Investors should carefully consider the Fund s investment objectives, risks, charges and expenses before investing. For this and other information, please call or visit for a free prospectus. Read it carefully before investing or sending money. The performance data shown represents past performance. Past performance 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. For performance information through the most recent month end please call or visit our website at 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. The Fund is subject to risks associated with investments in small-capitalization companies, such as erratic earnings patterns, competitive conditions, limited earnings history and a reliance on one or a limited number of products. Top Ten Holdings: Mention of a specific security should not be considered a recommendation to buy or solicitation to sell that security. Future Holdings Risk: Any sectors, industries or securities discussed should not be perceived as investment recommendations. The views expressed represent the opinions of AMG Funds LLC and are not intended as a forecast or guarantee of future results. Any securities discussed may no longer be held in an account s portfolio. Both current and future portfolio holdings are subject to risk. It should not be assumed that any of the securities transactions discussed were or will prove to be profitable, or that the investment recommendations we make in the future will be profitable. Data Sources: BoNY, FactSet, Bloomberg and ICE Data Analytics. The Russell 2000 Index is composed of the 2000 smallest stocks in the Russell 3000 Index and is widely regarded in the industry as the premier measure of small-cap stock performance. Unlike the Fund, the Russell 2000 Index is unmanaged, is not available for investment and does not incur expenses. AMG Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC PT551-SUP