MGIDX — AMG Managers Amundi Intermediate Government Fund

MGIDX Fund Overview

MGIDX — AMG Managers Amundi Intermediate Government Fund is a US mutual fund managed by AMG ETF Trust, categorised as Intermediate Treasury / Sovereign Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: AMG ETF Trust
• Category: Intermediate Treasury / Sovereign Bond
• Assets under management: $65.58M
• Ticker: MGIDX
• SEC CIK: 0000879947
• SEC series ID: S000009897
• Share class ID: C000027391

MGIDX Investment Objective and Strategy

AMG Managers Amundi Intermediate Government Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by AMG ETF Trust.

Investment objective

The AMG Managers Amundi Intermediate Government Fund’s (the “Fund” or “Intermediate Government Fund”) investment objective is to provide investors with a total return in excess of the total return of the major market indices for mortgage-backed securities.

Principal investment strategy

Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds (debt securities) issued by the U.S. Government or its agencies and instrumentalities and synthetic instruments or derivatives having economic characteristics similar to such debt securities. The Fund seeks to achieve its objective by typically seeking to match the duration, or interest rate risk, of a portfolio that invests exclusively in mortgage-backed securities, as weighted in the Citigroup Mortgage Index. The Citigroup Mortgage Index includes all outstanding government sponsored fixed-rate mortgage-backed securities, weighted in proportion to their current market capitalization. The duration of this index is generally similar to that of intermediate-term U.S.

Treasury notes, and typically will range between three and five years. The Fund will seek to minimize credit risk by investing in securities of the highest credit quality. In addition, as a matter of fundamental policy, the Fund will limit purchases to securities from the following classes of assets: securities issued directly or guaranteed by the U.S. Government or its agencies or instrumentalities; mortgage-backed securities rated AAA by Standard & Poors Ratings Services (S&P) or Aaa by Moodys Investors Service, Inc. (Moodys); securities fully collateralized by assets in either of the above classes; assets which would qualify as liquidity items under federal regulations (which may change from time to time) if held by a commercial bank or savings institution; and hedge instruments and stripped mortgage-backed securities, which are typically used for risk management purposes.

The Fund typically employs hedging techniques, such as interest rate futures, options, caps, floors and swaps, which are intended to reduce the interest rate risk of its fixed income securities. The Fund generally manages its fixed-income portfolio effective duration to approximate that of the Citigroup Mortgage Index. The Fund may employ leverage by using reverse repurchase agreements, dollar rolls and other borrowings, and through the use of when-issued, delayed-delivery or forward commitment transactions, or other derivatives. The Fund will not purchase a put or call option on U.S. Government securities or mortgage-backed securities if, as a result of such purchase, more than 10% of its total assets would be invested in such options. The Fund will engage in over-the-counter option transactions only with primary U.S.

Government securities dealers recognized by the Federal Reserve Bank of New York. The Fund will only sell options that are covered.

MGIDX Costs and Fees

MGIDX costs about $87 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.87%
• Gross expense ratio: 1.01%
• Portfolio turnover: 0%
• Brokerage commissions: 0.25 bps of average net assets (SEC N-CEN)

MGIDX Cashflows

Over the 12 months to 2019-09, AMG Managers Amundi Intermediate Government Fund had net inflows of $14.12M, from monthly SEC N-PORT filings.

MGIDX Debt Constituents

No individual debt constituents are reported in AMG Managers Amundi Intermediate Government Fund's latest SEC N-PORT filing.

MGIDX Prospectus and SEC Filings

Official AMG Managers Amundi Intermediate Government Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-05-22
• Prospectus (485BPOS) — filed 2018-05-14
• Prospectus (485BPOS) — filed 2017-05-22
• Portfolio holdings (N-PORT) — filed 2019-11-25
• Annual census, amended (N-CEN/A) — filed 2019-07-12

Related Funds

Other Intermediate Treasury / Sovereign Bond funds tracked on ABC INVEST:

• Vanguard Intermediate-Term Bond Index Fund (VBIIX)
• Vanguard Intermediate-Term Treasury Index Fund (VSIGX)
• iShares U.S. Treasury Bond ETF (GOVT)
• iShares 3-7 Year Treasury Bond ETF (IEI)
• Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX)

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.