MFQAX Fees and Costs — AMG Veritas Global Focus Fund, Class N
Data updated: 2026-09-25
The net expense ratio is 1.13%: a 0.67% management fee, a 0.25% 12b-1 fee plus 0.57% other expenses, less a 0.36% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $7K in broker commissions, 0.0228% of average net assets, and portfolio turnover was 28%.
MFQAX Fees and Expenses
Annual operating expenses and sales charges of MFQAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.67% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.57% |
| Gross expense ratio | 1.49% |
| Fee waiver | −0.36% |
| Net expense ratio | 1.13% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
MFQAX Costs Over Time
On $10,000 invested in MFQAX, assuming 5% a year before costs, total costs come to $719 over 5 years, cutting the return by 1.21% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.13%) | $119 | $370 | $640 |
| Trading costs (broker commissions) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $19 | $66 |
| Total costs | $121 | $396 | $719 |
| Value after costs | $10,379 | $11,180 | $12,044 |
| Impact on return, per year | 1.21% | 1.21% | 1.21% |
MFQAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0228%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
MFQAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2K | 25.56% |
| WILLIAM BLAIR & COMPANY, L.L.C. | $1K | 17.52% |
| REDBURN (USA) LLC | $906 | 12.72% |
| Cowen and Company, LLC | $800 | 11.23% |
| BMO CAPITAL MARKETS CORP. | $635 | 8.91% |
| CANTOR FITZGERALD & CO. | $600 | 8.42% |
| Raymond James & Associates, Inc. | $551 | 7.74% |
| JEFFERIES LLC | $329 | 4.61% |
| BNP Paribas Securities Corp. | $165 | 2.31% |
| GOLDMAN SACHS & CO. LLC | $70 | 0.99% |
AMG Veritas Global Focus Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MFQTX | Class I | 0.88% | — |
| MFQAX | Class N | 1.13% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.