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IBD: Small Cap Market Tilt: More Tailwind For Hot AMG Stock Mutual Fund? (MECIX)
FYI: Already performing well this year thanks to leading stocks like PGT Innovations (PGTI), Kinsale Capital Group (KNSL), MCBC Holdings (MCFT) and Medifast (MED) — which are up 10% for PGT to 70% for Medifast — small-cap growth $121.8 million AMG Managers Cadence Emerging Companies Fund's (MECIX) managers see the market environment tilting more their way — more in favor of small-cap stocks. Regards, Ted https://www.investors.com/etfs-and-funds/mutual-funds/small-cap-market-tilt-tailwind-amg-stock-mutual-fund/
@TheShadow: I was wondering about MECAX annual distributions. M* has no info at all and the AMG site seems to say there were none paid for 2017. Hard to square with a 98% turnover ratio. The same managers run the Cadence mid-cap fund which has paid nose-bleed distributions for the last four years. It may not matter to you if your holding is in a tax-deferred account.
Just bought into the fund this past January as I did look at the past history with not much indicated. At $55 dollars a share, $2,500 doesn't buy much. I do have it in a taxable account with the transfer agent.
Most of my mid-cap holdings (except POAGX) have a history of paying significantly more cgs/dividends than my small cap funds.
Fund still has small asset base with not much outflow. If there were a lot of outflows similar to that of Turner's Microcap/Emerging Growth fund during its last couple of years of existence, I would be worried.
Comments
Just bought into the fund this past January as I did look at the past history with not much indicated. At $55 dollars a share, $2,500 doesn't buy much. I do have it in a taxable account with the transfer agent.
Most of my mid-cap holdings (except POAGX) have a history of paying significantly more cgs/dividends than my small cap funds.
Fund still has small asset base with not much outflow. If there were a lot of outflows similar to that of Turner's Microcap/Emerging Growth fund during its last couple of years of existence, I would be worried.
Here is the 2017 prospectus link:
https://www.sec.gov/Archives/edgar/data/720309/000119312517297883/d459672d485bpos.htm
Look at the footnotes in the financials for more information concerning dividends.