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AMG TimesSquare Global Small Cap Fund
TSYIX (Mutual Fund)
AMG TimesSquare Global Small Cap Fund
Name
As of 12/06/2024Price
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
-0.3%
1 yr return
6.0%
3 Yr Avg Return
-4.2%
5 Yr Avg Return
1.8%
Net Assets
$251 K
Holdings in Top 10
22.0%
52 WEEK LOW AND HIGH
$10.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 5.16%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 59.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
$25,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/06/2024Price
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
TSYIX - Profile
Distributions
- YTD Total Return -0.3%
- 3 Yr Annualized Total Return -4.2%
- 5 Yr Annualized Total Return 1.8%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.25%
- Dividend Yield 0.5%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAMG TimesSquare Global Small Cap Fund
-
Fund Family NameAMGFUNDSGR
-
Inception DateMay 30, 2018
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGrant Babyak
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 securities of small market capitalization companies (“small cap companies”). Under normal circumstances, the Fund will invest at least 35% of its net assets in investments economically tied to countries other than the U.S., or, if in the view of TimesSquare Capital Management, LLC, the subadviser to the Fund (“TimesSquare” or the “Subadviser”), market conditions are not favorable, at least 30% of its net assets in investments economically tied to countries other than the U.S., and the Fund will hold investments economically tied to a minimum of three countries other than the U.S. The Fund considers an investment to be economically tied to a country other than the U.S. if it provides investment exposure to a non-U.S. issuer. The Fund considers a company to be non-U.S. issuer if (i) it is organized outside the U.S. or maintains a principal place of business outside the U.S., (ii) its securities are traded principally outside the U.S., or (iii) during its most recent fiscal year, it derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed outside the U.S. or it has at least 50% of its assets outside the U.S.
The Fund primarily invests in U.S. and non-U.S. small cap companies, allocating investments across different countries and regions. TimesSquare considers small cap companies to be those
with market capitalizations at the time of purchase within the range of capitalizations of companies in the MSCI World Small Cap Index. As of March 1, 2024, the date of the latest rebalance of the MSCI World Small Cap Index, the range of market capitalizations was $31 million to $16.609 billion. This capitalization range will change over time. The Index is rebalanced quarterly. 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 securities of small cap companies at any given time. The Fund may invest in securities of issuers located in emerging markets countries. To gain exposure to foreign issuers, the Fund also may invest in exchange-traded funds.
TimesSquare uses a bottom-up investment process driven by fundamental research conducted by its investment analysts. TimesSquare also applies a macro overlay to monitor and mitigate country risks through active management. In addition, TimesSquare integrates into its fundamental research process an analysis of environmental, social, and/or governance (ESG) data. With respect to each potential investment, TimesSquare prepares an assessment of ESG indicators, as defined by TimesSquare using widely accepted sustainability standards, third-party data (including MSCI, Inc.) and internal expertise, with a focus on financial materiality. Because the financial materiality of ESG indicators can vary from one company to another, the set of ESG data analyzed differs across the Subadviser’s assessments. Examples of ESG indicators assessed by the Subadviser may include product safety (for consumer discretionary companies), human capital management (for software/IT services companies), and water and waste management (for semiconductor companies), among others. As part of this analysis, the Fund will not initiate positions in companies that are deemed to violate the principles of the United Nations Global Compact, as determined by a third party. Except with respect to companies that violate such principles, the results of the Subadviser’s ESG assessment alone will not preclude an investment, and an investment could be made in a company with a poor ESG assessment that meets the Subadviser’s other investment criteria. 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.
TSYIX - Performance
Return Ranking - Trailing
| Period | TSYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.3% | -44.3% | 9.5% | 60.26% |
| 1 Yr | 6.0% | -51.1% | 24.7% | 60.65% |
| 3 Yr | -4.2%* | -6.4% | 28.0% | 83.11% |
| 5 Yr | 1.8%* | -4.2% | 18.3% | N/A |
| 10 Yr | N/A* | 1.0% | 13.7% | N/A |
* Annualized
Return Ranking - Calendar
| Period | TSYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.3% | -50.5% | 18.8% | 47.30% |
| 2022 | -23.9% | -27.4% | 103.5% | 75.52% |
| 2021 | 3.7% | 3.5% | 66.4% | 3.57% |
| 2020 | 11.4% | -64.5% | 5.6% | N/A |
| 2019 | 36.3% | -9.3% | 49.7% | N/A |
Total Return Ranking - Trailing
| Period | TSYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.3% | -44.3% | 9.5% | 55.77% |
| 1 Yr | 6.0% | -51.1% | 24.7% | 55.48% |
| 3 Yr | -4.2%* | -6.4% | 28.0% | 80.41% |
| 5 Yr | 1.8%* | -4.2% | 18.3% | N/A |
| 10 Yr | N/A* | 1.0% | 13.7% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | TSYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.9% | -50.6% | 18.8% | 47.30% |
| 2022 | -23.8% | -27.4% | 103.5% | 75.52% |
| 2021 | 11.3% | 3.5% | 66.4% | 3.57% |
| 2020 | 11.4% | -64.5% | 5.6% | N/A |
| 2019 | 38.0% | -9.3% | 53.2% | N/A |
NAV & Total Return History
TSYIX - Holdings
Concentration Analysis
| TSYIX | Category Low | Category High | TSYIX % Rank | |
|---|---|---|---|---|
| Net Assets | 251 K | 2.31 M | 71.6 B | 100.00% |
| Number of Holdings | 87 | 31 | 9561 | 56.88% |
| Net Assets in Top 10 | 396 K | 452 K | 5.44 B | 100.00% |
| Weighting of Top 10 | 22.04% | 4.2% | 63.4% | 61.25% |
Top 10 Holdings
- Webster Financial Corp 2.35%
- Casella Waste Systems Inc 2.35%
- CyberArk Software Ltd 2.28%
- PERFORMANCE FOOD GROUP CO 2.28%
- Chemed Corp 2.27%
- National Storage Affiliates Trust 2.20%
- Regal Rexnord Corp 2.18%
- Universal Display Corp 2.11%
- JFrog Ltd 2.04%
- Synaptics Inc 1.96%
Asset Allocation
| Weighting | Return Low | Return High | TSYIX % Rank | |
|---|---|---|---|---|
| Stocks | 98.41% | 40.59% | 104.41% | 33.13% |
| Cash | 2.45% | -4.41% | 47.07% | 68.13% |
| Other | 1.32% | -7.94% | 19.71% | 55.63% |
| Preferred Stocks | 0.00% | 0.00% | 1.04% | 40.00% |
| Convertible Bonds | 0.00% | 0.00% | 7.55% | 33.13% |
| Bonds | 0.00% | 0.00% | 8.07% | 36.25% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | TSYIX % Rank | |
|---|---|---|---|---|
| Industrials | 28.08% | 0.00% | 53.77% | 17.50% |
| Financial Services | 17.84% | 0.00% | 75.07% | 16.25% |
| Consumer Cyclical | 16.55% | 0.00% | 71.20% | 43.75% |
| Technology | 14.09% | 0.00% | 93.40% | 56.25% |
| Healthcare | 9.87% | 0.00% | 28.38% | 55.00% |
| Communication Services | 5.79% | 0.00% | 23.15% | 8.75% |
| Consumer Defense | 4.24% | 0.00% | 52.28% | 83.13% |
| Energy | 1.64% | 0.00% | 36.56% | 45.63% |
| Real Estate | 1.51% | 0.00% | 43.48% | 54.38% |
| Utilities | 0.37% | 0.00% | 70.33% | 75.00% |
| Basic Materials | 0.00% | 0.00% | 26.39% | 83.75% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | TSYIX % Rank | |
|---|---|---|---|---|
| US | 57.12% | 6.76% | 79.19% | 63.13% |
| Non US | 41.28% | 12.39% | 83.06% | 23.13% |
TSYIX - Expenses
Operational Fees
| TSYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 5.16% | 0.43% | 2.93% | 68.75% |
| Management Fee | 0.70% | 0.30% | 1.25% | 36.25% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.15% | 0.03% | 0.15% | 92.45% |
Sales Fees
| TSYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| TSYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| TSYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 59.00% | 7.00% | 145.00% | 80.00% |
TSYIX - Distributions
Dividend Yield Analysis
| TSYIX | Category Low | Category High | TSYIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.55% | 0.00% | 14.18% | 45.00% |
Dividend Distribution Analysis
| TSYIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Annually | Annually |
Net Income Ratio Analysis
| TSYIX | Category Low | Category High | TSYIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.25% | -1.92% | 6.98% | 31.85% |
Capital Gain Distribution Analysis
| TSYIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 14, 2023 | $0.059 | OrdinaryDividend |
| Dec 15, 2022 | $0.020 | OrdinaryDividend |
| Dec 15, 2021 | $0.887 | OrdinaryDividend |
| Dec 16, 2019 | $0.132 | OrdinaryDividend |
TSYIX - Fund Manager Analysis
Managers
Grant Babyak
Start Date
Tenure
Tenure Rank
May 30, 2018
4.01
4.0%
Grant is a Senior Founding Partner, Managing Director, and Portfolio Manager in TimesSquare’s growth equity group. He is also a member of the three-person Management Committee that oversees TimesSquare. Prior to joining TimesSquare in 2000, Grant managed small cap and mid cap portfolios at Fiduciary Trust Company International. He previously worked for six years at Avatar Associates as an institutional portfolio manager and for two years at U.S. Trust Company of New York as an analyst covering the consumer and basic industrial sectors. Grant has a B.A. in Political Science from Yale University and an M.B.A. in Finance from the Leonard N. Stern School of Business at New York University.
Magnus Larsson
Start Date
Tenure
Tenure Rank
May 30, 2018
4.01
4.0%
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.
Ian Rosenthal
Start Date
Tenure
Tenure Rank
May 30, 2018
4.01
4.0%
Tony is a Senior Founding Partner, Managing Director, and Portfolio Manager in TimesSquare's growth equity group. He is also a member of the three-person Management Committee that oversees TimesSquare. Before joining TimesSquare in 2000, Tony held a similar position at Fiduciary Trust Company International. Prior experience includes three years at the Bank of New York as an equity portfolio manager and analyst and time at U.S. Trust Company of New York, where he conducted economic research. Tony has a B.A. in Economics from Wesleyan University and an M.B.A. from Columbia Business School.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 39.6 | 7.02 | 9.33 |
