MGGBX — AMG Managers Global Income Opportunity Fund
Data updated: 2024-08-28
MGGBX — AMG Managers Global Income Opportunity Fund. Alternative · $6.74M AUM · 0.84% expense ratio. Holdings, fees, performance and SEC filings.
MGGBX Fund Overview
MGGBX — AMG Managers Global Income Opportunity Fund is a US mutual fund managed by Amg Funds III, categorised as Alternative. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Amg Funds III
- Category: Alternative
- Assets under management: $6.74M
- 1-year return: 7.6%
- Ticker: MGGBX
- SEC CIK: 0000720309
- SEC series ID: S000009869
- Share class ID: C000027311
MGGBX Investment Objective and Strategy
AMG Managers Global Income Opportunity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Amg Funds III.
Investment objective
The AMG Managers Global Income Opportunity Fund’s (the “Fund”) investment objective is to achieve income and capital appreciation.
Principal investment strategy
"The Fund seeks to achieve its investment objective of income and capital appreciation through a portfolio of foreign and domestic fixed income securities. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds (debt securities). Under normal market conditions, the Fund invests at least 65% of its total assets in investment grade U.S. and foreign corporate bonds and in securities issued or guaranteed by the U.S. and foreign governments, their agencies or instrumentalities, and supranational organizations such as the World Bank. Investment grade securities are rated at least in the BBB/Baa major rating category by Standard & Poors Ratings Services (S&P) or Moodys Investor Service, Inc. (Moodys) (or a similar rating from any nationally recognized statistical rating organization).
Under normal conditions, the Fund will also invest at least 40% of its net assets, plus the amount of any borrowings for investment purposes, in investments of non-U.S. issuers. The Fund may also invest up to 30% of its total assets in below investment grade bonds (commonly known as junk bonds or high yield securities) (those rated below BBB/Baa by S&P or Moodys). In addition, the Fund may invest in privately placed securities, restricted securities, securities that are eligible for resale without registration under the Securities Act of 1933, as amended (the 1933 Act), pursuant to Rule 144A under the 1933 Act (Rule 144A Securities), or other unregistered securities. The Fund may invest in companies in emerging market countries. Under normal circumstances, the Fund invests no more than 25% of its net assets, plus the amount of any borrowings for investment purposes, in debt securities of companies located in emerging market countries.
Emerging market countries include any country determined by the Fund's subadviser, Loomis, Sayles & Company, L.P. (the ""Subadviser"" or ""Loomis"") to have an emerging market economy, taking into account a number of factors. These factors may include whether the country has a low-to middle-income economy according to the International Bank for Reconstruction and Development (also known as the World Bank), the countrys foreign currency debt rating, its location and neighboring countries, its political and economic stability and the development of its financial and capital markets. These countries may include those located in Latin America and the Caribbean, Asia, Africa, the former Soviet Union, the Middle East and the developing countries of Europe (primarily Central and Eastern Europe).
From time to time, the Fund may invest in bonds that are not rated by S&P, Moodys or a similar nationally recognized statistical rating organization. In the event that the Fund invests in non-rated bonds, the equivalent rating determined by Loomis will be used for the purpose of the Funds investment policies described above. Debt securities held by the Fund may have any remaining maturity. The Fund may hold instruments denominated in any currency. At least 30% of the total assets of the Fund will be invested in U.S. dollar-denominated instruments. Loomis applies fundamental investment research techniques when deciding which bonds to buy or sell. Typically, Loomis: Primarily selects investments with the goal of enhancing the Fund's overall yield and total return, relative to the Fund's benchmark, the Barclays Global Aggregate Index.
Uses credit analysis and internally developed investment techniques to evaluate numerous financial criteria relating to debt securities. May utilize forward currency contracts in order to adjust the Fund's exposure to foreign currencies. Sells a security if it believes the security is overvalued by the market based on its credit, country, or currency. Loomis does not manage the Fund to maintain a given average duration, thus giving the Fund the flexibility to invest in securities with any remaining maturity as market conditions change. At times, the Funds average duration may be longer than that of the benchmark, so that the Fund is more sensitive to changes in interest rates than the benchmark. At other times the Funds average duration may be shorter than that of the benchmark, so that the Fund is less sensitive to changes in interest rates than the benchmark.
Loomis may utilize futures contracts in order to adjust the Funds duration. Loomis generally prefers securities that seek to protect against calls (early redemption by the issuer)."
MGGBX Holdings
Top 2 holdings of AMG Managers Global Income Opportunity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Dreyfus Institutional Preferred Government Money Market Fund | 100.09% |
| Bethesda Securities, LLC | 0.02% |
MGGBX Portfolio Allocation
Asset-class allocation of AMG Managers Global Income Opportunity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Cash & Equivalents | 100.1% |
MGGBX Performance
Total returns for MGGBX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 7.6% |
| 3 years (annualised) | 1.6% |
| 5 years (annualised) | 4.1% |
MGGBX Risk Information
Risk metrics for MGGBX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.2%
MGGBX Costs and Fees
MGGBX costs about $84 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.84%
- Gross expense ratio: 1.48%
- Portfolio turnover: 25%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
MGGBX Cashflows
Over the 12 months to 2024-06, AMG Managers Global Income Opportunity Fund had net outflows of $1.69M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-06 | −$982.02K |
| 2024-05 | −$77.31K |
| 2024-04 | −$6.27M |
| 2024-03 | $21.68K |
| 2024-02 | $207.28K |
| 2024-01 | $24.13K |
MGGBX Debt Constituents
No individual debt constituents are reported in AMG Managers Global Income Opportunity Fund's latest SEC N-PORT filing.
MGGBX Prospectus and SEC Filings
Official AMG Managers Global Income Opportunity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-04-29
- Prospectus (485BPOS) — filed 2023-04-28
- Prospectus (485BPOS) — filed 2022-04-29
- Portfolio holdings (N-PORT) — filed 2024-08-28
- Portfolio holdings (N-PORT) — filed 2024-05-24
- Portfolio holdings (N-PORT) — filed 2024-02-28
- Annual census (N-CEN) — filed 2024-03-15
- Annual census (N-CEN) — filed 2023-03-16
Related Funds
Other Alternative funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.