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Trending ETFs

AMG Veritas China Fund

mutual fund
MIMFX
Payout Change
Pending
Price as of:
$14.63 -0.27 -1.81%
primary theme
China Region Equity
share class
I (MIMFX) N (MMCFX)
MIMFX (Mutual Fund)

AMG Veritas China Fund

Payout Change
Pending
Price as of:
$14.63 -0.27 -1.81%
primary theme
China Region Equity
share class
I (MIMFX) N (MMCFX)
MIMFX (Mutual Fund)

AMG Veritas China Fund

Payout Change
Pending
Price as of:
$14.63 -0.27 -1.81%
primary theme
China Region Equity
share class
I (MIMFX) N (MMCFX)

Name

As of 12/13/2024

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 Veritas China Fund

MIMFX | Fund

$14.63

$40.4 M

1.03%

$0.15

1.12%

Vitals

YTD Return

0.8%

1 yr return

2.7%

3 Yr Avg Return

-15.6%

5 Yr Avg Return

-6.2%

Net Assets

$40.4 M

Holdings in Top 10

57.2%

52 WEEK LOW AND HIGH

$14.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.12%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 184.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

$25,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/13/2024

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 Veritas China Fund

MIMFX | Fund

$14.63

$40.4 M

1.03%

$0.15

1.12%

MIMFX - Profile

Distributions

  • YTD Total Return 0.8%
  • 3 Yr Annualized Total Return -15.6%
  • 5 Yr Annualized Total Return -6.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.19%
DIVIDENDS
  • Dividend Yield 1.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    AMG Veritas China Fund
  • Fund Family Name
    AMGFUNDSGR
  • Inception Date
    Oct 01, 2011
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ezra Sun

Fund Description

Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of issuers located in China (People’s Republic of China (“PRC”) and its Special Administrative Regions, Hong Kong and Macau) or issuers that are not located in China but derive a majority (over 50%) of their income from China. The Fund primarily invests in equity securities. Under normal circumstances, the Fund considers equity securities to include common and preferred stocks, as well as securities with equity characteristics, including, but not limited to, equity linked securities and participatory notes (P-Notes).
The Fund intends to invest in focused equity positions, identified through the bottom-up, stock picking approach of Veritas Asset Management LLP, the subadviser to the Fund (“Veritas” or the “Subadviser”), with a macro overlay. The Subadviser’s macro analysis will focus on identifying long term themes and trends and then proceed to identifying companies within those identified themes and trends that it believes have sound business models, strong management and disciplined financial controls. The Fund seeks to focus on quality companies in sectors that the Subadviser believes show long term structural growth potential with emphasis on industry leaders or emerging leaders with durable competitiveness. The macro themes are identified via a combination of in-house and external research. Asian domestic demand is an example of a theme internal to the Subadviser. In part, the Fund uses this analysis to seek to identify opportunities to invest in Chinese companies whose
businesses are benefitting from rising Chinese consumer spending in consumer goods or services.
The Fund intends to gain exposure to equity securities of issuers located in China or issuers that are not located in China but derive a majority (over 50%) of their income from China through direct investments in equities listed on mainland China stock exchanges, such as the Shanghai and Shenzen stock exchanges, via Hong Kong through the market access program through which foreign investors can deal in select Class A Shares (Stock Connect) or indirect exposure through P-Notes or similar equity linked securities. Equity linked securities are a type of derivative instrument that have a return component based on the performance of another security, and provide the Fund with an alternative to investing in the underlying security directly in situations where the Fund would have to register with a foreign exchange or foreign securities agency to be able to do so. P-Notes are a type of derivative instrument used by the Fund to access non-U.S. markets and to gain exposure to, primarily, equity securities of issuers listed on a non-U.S. exchange rather than purchasing securities directly.
The Fund will generally invest in mid- to large-capitalization companies, although the Fund may also invest in small-capitalization companies. The Fund generally invests in companies with market capitalizations greater than $5 billion. The Fund currently expects to hold between 15 and 40 positions at any time. The Fund is non-diversified.
The Fund may hold assets in cash and cash equivalents, and at times these holdings may be significant. The Fund’s cash level at any point typically relates to the Subadviser’s individual security selection process, and therefore may vary, depending on the Subadviser’s desired security weightings.
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MIMFX - Performance

Return Ranking - Trailing

Period MIMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -12.8% 31.4% 88.76%
1 Yr 2.7% -12.1% 35.4% 88.76%
3 Yr -15.6%* -20.4% 4.4% 87.95%
5 Yr -6.2%* -12.7% 13.7% 88.24%
10 Yr 2.1%* -4.1% 9.9% 56.00%

* Annualized

Return Ranking - Calendar

Period MIMFX Return Category Return Low Category Return High Rank in Category (%)
2023 -19.0% -26.6% 26.3% 57.30%
2022 -26.2% -41.6% -9.4% 38.55%
2021 -47.8% -52.5% 26.5% 97.50%
2020 12.6% 1.3% 138.5% 90.00%
2019 17.1% 4.4% 42.6% 82.35%

Total Return Ranking - Trailing

Period MIMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -12.8% 31.4% 88.76%
1 Yr 2.7% -12.1% 35.4% 88.76%
3 Yr -15.6%* -20.4% 4.4% 87.95%
5 Yr -6.2%* -12.7% 13.7% 88.24%
10 Yr 2.1%* -4.1% 9.9% 56.00%

* Annualized

Total Return Ranking - Calendar

Period MIMFX Return Category Return Low Category Return High Rank in Category (%)
2023 -18.2% -25.7% 30.1% 66.29%
2022 -26.2% -40.4% -6.8% 48.19%
2021 -1.0% -48.9% 29.5% 30.00%
2020 18.1% 2.0% 138.5% 88.57%
2019 27.7% 7.8% 44.4% 57.35%

NAV & Total Return History

MIMFX - Holdings

Concentration Analysis

MIMFX Category Low Category High MIMFX % Rank
Net Assets 40.4 M 1.85 M 5.63 B 49.44%
Number of Holdings 37 27 1169 86.52%
Net Assets in Top 10 23.4 M 971 K 4.09 B 43.82%
Weighting of Top 10 57.15% 5.6% 85.4% 22.47%

Top 10 Holdings

  1. Tencent Holdings Ltd 18.09%
  2. Alibaba Group Holding Ltd 9.96%
  3. NARI Technology Co Ltd 5.47%
  4. BYD Co Ltd 4.27%
  5. NetEase Inc 3.78%
  6. Meituan 3.37%
  7. Zijin Mining Group Co Ltd 3.12%
  8. Contemporary Amperex Technology Co Ltd 3.09%
  9. Tsingtao Brewery Co Ltd 3.06%
  10. CSPC Pharmaceutical Group Ltd 2.94%

Asset Allocation

Weighting Return Low Return High MIMFX % Rank
Stocks 		98.01% 51.72% 113.15% 38.20%
Cash 		1.99% 0.00% 33.85% 66.29%
Preferred Stocks 		0.00% 0.00% 2.47% 13.48%
Other 		0.00% -0.02% 47.32% 25.84%
Convertible Bonds 		0.00% 0.00% 0.15% 14.12%
Bonds 		0.00% 0.00% 0.00% 6.74%

Stock Sector Breakdown

Weighting Return Low Return High MIMFX % Rank
Industrials 		24.93% 0.00% 36.69% 8.24%
Consumer Cyclical 		22.55% 0.00% 95.37% 38.82%
Consumer Defense 		13.63% 0.00% 20.13% 18.82%
Healthcare 		10.12% 0.00% 100.00% 22.35%
Technology 		10.07% 0.00% 58.02% 56.47%
Communication Services 		9.59% 0.00% 41.06% 52.94%
Utilities 		5.93% 0.00% 11.37% 5.88%
Basic Materials 		3.18% 0.00% 19.86% 58.82%
Real Estate 		0.00% 0.00% 22.12% 83.53%
Financial Services 		0.00% 0.00% 41.62% 92.94%
Energy 		0.00% 0.00% 19.38% 51.76%

Stock Geographic Breakdown

Weighting Return Low Return High MIMFX % Rank
Non US 		94.24% 0.00% 100.00% 21.35%
US 		3.77% 0.00% 100.63% 62.92%

MIMFX - Expenses

Operational Fees

MIMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.12% 0.09% 11.25% 68.54%
Management Fee 0.71% 0.09% 1.50% 25.84%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.06% 0.25% 25.00%

Sales Fees

MIMFX 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% 1.00% N/A

Trading Fees

MIMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

MIMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 184.00% 4.00% 241.00% 95.83%

MIMFX - Distributions

Dividend Yield Analysis

MIMFX Category Low Category High MIMFX % Rank
Dividend Yield 1.03% 0.00% 8.89% 56.18%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MIMFX Category Low Category High MIMFX % Rank
Net Income Ratio 0.19% -1.17% 3.66% 44.71%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MIMFX - Fund Manager Analysis

Managers

Ezra Sun

Start Date

Tenure

Tenure Rank

May 21, 2021

1.03

1.0%

Partner, Fund Manager and Head of Asia of Veritas Asset Management LLP. Joined the company in 2004. Director of Investment Management and Investment Leader Asia Newton Investment Management 1995 to 2004. Education: BA, (Nankai University, China), MA, (Nankai University, China), Research Student Cambridge University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 24.1 3.8 3.22

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