AMG Multi-Asset Income Fund

AMG Multi-Asset Income Fund will seek a high level of current income. They intend to invest in many sorts of income-producing securities, using five sub-advisers with five different approaches, in order to generate “incrementally more yield” than a portfolio of government securities. That’s nice, except that their risk target is “lower than the S&P 500 Index over the long term.” On face, that’s not a compelling balance. The management teams haven’t been named. The initial expense ratio has not been set, nor has the expense cap that apparently will be in place. The minimum initial investment is $2,000, reduced to $1,000 for various tax-advantaged products.

AMG SouthernSun Global Opportunities Fund

AMG SouthernSun Global Opportunities Fund will seek long-term capital appreciation. The plan is to invest globally in 15-40 small to mid-cap companies. As with their US small cap fund, they’re looking for firms with financial flexibility, good management and niche dominance. The domestic small cap fund has suffered from “the girl with the curl” problem. The fund will be managed by Michael Cook, who also manages the other two SouthernSun funds. The initial expense ratio will be 1.70% and the minimum initial investment is $2,000, reduced to $1,000 for various tax-advantaged products.

Concorde Wealth Management Trust

Concorde Wealth Management Trust will seek total return and preservation of capital. The plan is to invest in all kinds of stuff – stocks, bonds, private placements – that is attractively valued, though the prospectus doesn’t mention how the managers will allocate between asset classes nor whether there are any limits on their discretion. For reasons unclear, they insist on shouting the world FUND over and over in the prospectus. The fund will be managed by Dr. Gary B. Wood, John Stetter, and Gregory B. Wood. The initial expense ratio will be 1.37% and the minimum initial investment is $500.

DoubleLine Ultra Short Bond Fund

DoubleLine Ultra Short Bond Fund will seek current income consistent with limited price volatility. They’ll target securities with a duration under one year and an average credit quality of AA- or higher. The fund will be managed by Bonnie Baha, who famously referred to her boss as “a freakin’ jerk” and still manages four funds for him, and Jeffrey Lee. The initial expense ratio has not been set, nor has the expense cap that apparently will be in place. The minimum initial investment is $2,000, reduced to $500 for various tax-advantaged products.

Toreador Select Fund

Toreador Select Fund will seek long-term capital appreciation. The plan is to deploy “a proprietary stock selection model” (aren’t they all proprietary?) to select 35-60 large cap stocks. The fund will be managed by Paul Blinn and Rafael Resendes of Toreador Research & Trading. The team also managed Toreador Core, a global all-cap fund with a modestly regrettable record since: total returns trail its peers while volatility is modestly higher. The initial expense ratio will be 1.21% and the minimum initial investment is $1,000.