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AMG TimesSquare International Small Cap Fund
TQTIX (Mutual Fund)
AMG TimesSquare International Small Cap Fund
Name
As of 01/13/2025Price
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
Vitals
YTD Return
-1.8%
1 yr return
1.2%
3 Yr Avg Return
-5.8%
5 Yr Avg Return
-1.9%
Net Assets
$127 M
Holdings in Top 10
22.5%
52 WEEK LOW AND HIGH
$13.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.11%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 73.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
$25,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 01/13/2025Price
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
TQTIX - Profile
Distributions
- YTD Total Return -1.8%
- 3 Yr Annualized Total Return -5.8%
- 5 Yr Annualized Total Return -1.9%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.62%
- Dividend Yield 3.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAMG TimesSquare International Small Cap Fund
-
Fund Family NameAMGFUNDSGR
-
Inception DateFeb 24, 2017
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMagnus Larsson
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 small market capitalization companies (“small cap companies”). Additionally, under normal circumstances, the Fund will invest at least 40% of its net assets, plus the amount of any borrowing for investment purposes, in investments of issuers located outside the United States, and/or investments that expose the Fund to such issuers, and the Fund will invest in and/or have investments that expose the Fund to a minimum of three countries, excluding the United States. The Fund considers an issuer to be located outside the United States if the issuer maintains a principal place of business outside the United States, its securities are traded principally outside the United States, or it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed outside the United States or it has at least 50% of its assets outside the United States.
The Fund primarily invests in non-U.S. small cap companies, allocating investments across different countries and regions. The Subadviser considers non-U.S. small cap companies to be those with market capitalizations at the time of purchase within the range of capitalizations of companies in the MSCI EAFE Small Cap Index. As of March 1, 2024, the date of the latest rebalance of the MSCI EAFE Small Cap Index, the range of market capitalizations was $115 million to $8.405 billion. This capitalization range will change over time. The Fund may continue to hold securities of a portfolio company whose market capitalization subsequently drops below or appreciates above the Fund’s small market capitalization range. Because of this, the Fund may have less than 80% of its net assets in equity securities of small cap companies at any given time. The Fund may invest in securities of issuers located in emerging markets countries.
TimesSquare Capital Management, LLC, the subadviser to the Fund (“TimesSquare” or the “Subadviser”), uses a bottom-up investment process driven by fundamental research conducted by its investment analysts. Under normal circumstances, the Subadviser seeks to maintain a growth oriented focus and invest the Fund’s assets pursuant to the following core principles:
•Revenue growth and profitability 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.
TQTIX - Performance
Return Ranking - Trailing
| Period | TQTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -1.8% | -4.2% | 2.3% | 27.12% |
| 1 Yr | 1.2% | -12.1% | 18.6% | 33.05% |
| 3 Yr | -5.8%* | -20.2% | 6.2% | 45.61% |
| 5 Yr | -1.9%* | -12.7% | 7.0% | 87.96% |
| 10 Yr | N/A* | -3.4% | 7.4% | N/A |
* Annualized
Return Ranking - Calendar
| Period | TQTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | -1.3% | -16.9% | 20.0% | 51.69% |
| 2023 | 8.1% | -16.8% | 28.8% | 79.66% |
| 2022 | -28.6% | -46.4% | -21.4% | 35.09% |
| 2021 | 0.2% | -30.6% | 16.4% | 56.48% |
| 2020 | 13.7% | 0.3% | 62.2% | 73.15% |
Total Return Ranking - Trailing
| Period | TQTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -1.8% | -4.2% | 2.3% | 27.12% |
| 1 Yr | 1.2% | -12.1% | 18.6% | 33.05% |
| 3 Yr | -5.8%* | -20.2% | 6.2% | 45.61% |
| 5 Yr | -1.9%* | -12.7% | 7.0% | 87.96% |
| 10 Yr | N/A* | -3.4% | 7.4% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | TQTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 1.6% | -12.3% | 20.2% | 44.07% |
| 2023 | 10.1% | -16.5% | 30.7% | 73.73% |
| 2022 | -27.8% | -46.4% | -18.5% | 43.86% |
| 2021 | 1.4% | -30.6% | 24.7% | 94.44% |
| 2020 | 13.7% | 1.6% | 68.3% | 84.26% |
NAV & Total Return History
TQTIX - Holdings
Concentration Analysis
| TQTIX | Category Low | Category High | TQTIX % Rank | |
|---|---|---|---|---|
| Net Assets | 127 M | 25.2 K | 6.45 B | 64.41% |
| Number of Holdings | 84 | 35 | 1300 | 58.47% |
| Net Assets in Top 10 | 31.2 M | 959 K | 1.07 B | 68.64% |
| Weighting of Top 10 | 22.51% | 10.5% | 63.9% | 60.17% |
Top 10 Holdings
- Rakuten Bank Ltd 2.66%
- Nippon Gas Co Ltd 2.33%
- Viscofan SA 2.28%
- Daiei Kankyo Co Ltd 2.28%
- Siegfried Holding AG 2.26%
- Rohto Pharmaceutical Co Ltd 2.23%
- Tate Lyle PLC 2.22%
- Osisko Gold Royalties Ltd 2.20%
- Konecranes Oyj 2.05%
- DMG Mori Co Ltd 2.01%
Asset Allocation
| Weighting | Return Low | Return High | TQTIX % Rank | |
|---|---|---|---|---|
| Stocks | 98.24% | 87.24% | 101.63% | 33.05% |
| Other | 1.27% | -0.07% | 9.66% | 4.24% |
| Cash | 0.73% | 0.00% | 10.20% | 78.81% |
| Preferred Stocks | 0.00% | 0.00% | 8.74% | 34.75% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 6.78% |
| Bonds | 0.00% | 0.00% | 1.74% | 9.32% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | TQTIX % Rank | |
|---|---|---|---|---|
| Industrials | 38.16% | 0.00% | 40.13% | 3.39% |
| Financial Services | 15.85% | 1.92% | 22.28% | 6.78% |
| Consumer Cyclical | 12.19% | 1.31% | 28.28% | 32.20% |
| Technology | 10.11% | 6.70% | 37.76% | 87.29% |
| Communication Services | 8.78% | 1.49% | 23.23% | 15.25% |
| Healthcare | 6.04% | 1.74% | 29.97% | 89.83% |
| Energy | 3.19% | 0.00% | 9.29% | 25.42% |
| Consumer Defense | 2.88% | 1.61% | 17.90% | 87.29% |
| Utilities | 1.18% | 0.00% | 5.12% | 33.90% |
| Real Estate | 0.90% | 0.00% | 13.00% | 75.42% |
| Basic Materials | 0.75% | 0.00% | 18.70% | 90.68% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | TQTIX % Rank | |
|---|---|---|---|---|
| Non US | 96.00% | 63.83% | 98.83% | 30.51% |
| US | 2.23% | 0.00% | 32.14% | 50.00% |
TQTIX - Expenses
Operational Fees
| TQTIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.11% | 0.02% | 41.09% | 77.97% |
| Management Fee | 0.75% | 0.00% | 1.75% | 5.93% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.15% | 0.05% | 0.26% | 58.06% |
Sales Fees
| TQTIX 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% | 4.00% | N/A |
Trading Fees
| TQTIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | 40.00% |
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.
| TQTIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 73.00% | 8.00% | 236.00% | 76.84% |
TQTIX - Distributions
Dividend Yield Analysis
| TQTIX | Category Low | Category High | TQTIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.07% | 0.00% | 5.44% | 30.51% |
Dividend Distribution Analysis
| TQTIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
| TQTIX | Category Low | Category High | TQTIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.62% | -1.81% | 1.51% | 21.24% |
Capital Gain Distribution Analysis
| TQTIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 16, 2024 | $0.427 | OrdinaryDividend |
| Dec 14, 2023 | $0.260 | OrdinaryDividend |
| Dec 15, 2022 | $0.133 | OrdinaryDividend |
| Dec 15, 2021 | $0.215 | OrdinaryDividend |
| Dec 16, 2020 | $0.005 | OrdinaryDividend |
| Dec 16, 2019 | $0.275 | OrdinaryDividend |
| Dec 27, 2018 | $0.168 | OrdinaryDividend |
| Dec 27, 2017 | $0.079 | OrdinaryDividend |
| Dec 27, 2017 | $0.058 | CapitalGainShortTerm |
| Dec 27, 2017 | $0.012 | CapitalGainLongTerm |
TQTIX - Fund Manager Analysis
Managers
Magnus Larsson
Start Date
Tenure
Tenure Rank
Jan 02, 2013
9.41
9.4%
Magnus is a Director, Portfolio Manager, and Partner on TimesSquare’s International Small Cap team which covers Developed, Emerging, and Frontier markets. Prior to joining TimesSquare in 2012, Magnus was a Portfolio Manager at Nordea Investment Management where he focused on European small and mid cap equities. Prior to Nordea, he held a similar role at SEB Asset Management as a Portfolio Manager focusing on European small and mid caps.
David Hirsh
Start Date
Tenure
Tenure Rank
Jan 14, 2022
0.38
0.4%
Mr. Hirsh has served as portfolio manager of the Fund since January 2022. Mr. Hirsh is a Director, Portfolio Manager/Analyst – Europe, and Partner on TimesSquare’s International Small Cap team which covers Developed, Emerging, and Frontier markets. Prior to joining TimesSquare in 2012, Mr. Hirsh was a Senior Principal at HawkStone Capital, focusing on Europe. Prior to HawkStone, he worked at Societe Generale, Kepler Equities, and Julius Baer with a focus on small- to mid-cap European stocks. He holds a B.A. in International Affairs from Lafayette College and is fluent in French.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.17 | 28.52 | 5.77 | 0.17 |
