http://www.sec.gov/Archives/edgar/data/1089951/000119312515219331/d940841d497.htm497 1 d940841d497.htm AMG FUNDS
Filed pursuant to 497(e)
File Nos. 333-84639 and 811-09521
AMG FUNDS
AMG YACKTMAN FUND
AMG YACKTMAN FOCUSED FUND
Supplement dated June 10, 2015
to the Statement of Additional Information dated May 1, 2015
The following information supplements and supersedes any information to the contrary relating to AMG Yacktman Fund and AMG Yacktman Focused Fund (the “Funds”), each a series of AMG Funds, contained in the Funds’ Statement of Additional Information, dated May 1, 2015.
Effective June 22, 2015, the Funds will reopen to new investors.
Effective June 22, 2015, the Statement of Additional Information is hereby amended as follows:
With respect to the section “General Information”, the third paragraph is hereby deleted in its entirety.
PLEASE KEEP THIS SUPPLEMENT FOR FUTURE REFERENCE
ST302
Comments
More sore limitations of the methods here, and the historical timescales.
What do we pay for, or want to pay for, intend to pay for, in paying a manager? It is unlikely that Charles et alia are simply too young to fully realize the value of time. But to see the answer, or one answer, just compare the performance of YAFFX with just about anything roughly similar for the last six years (good but arguably meh and not superior) and then the last seven and eight years.
Striking, those last two .
MFO, the place to go for advice on the shorter term, six years and since.
YACKX, in which I have a modest amount, bounced very well after 1208. If I think a significant decline will occur, I should sit on my hands (and not type this irritating drivel.) Obviously, I hit the keys, but not the "Sell" one.
I like the idea of a good value stock picker willing to go to cash in the large cap space. I owned YAFFX for years. But when I moved my 401k to and ira last year I went with a smaller fund with similar style, SEEDX. Haven't bothered to compare the 2 but I like smaller, focused funds with capital preservation as it's main goal. SEEDX to me was a smaller version of Yacktman.
edit to add: and of course a third change is it is not owned by the Yacktmans anymore.
Real shame, we'll see if sonny can drive this (good) one into the Dumpster...
BW, thanks; can you give a link? I have inferred this too to some extent but cannot remember where, or find it. Officially there appears to have been no management change, father to son (see M* management entries), although the press too often implies as much.
Son has been doing decisionmaking for well over a decade now, so much of the success is due him. Sounds like quite the aspiring prick, but you know.
HP quote is pretty funny if you ever worked there (as I did).
Interesting overall.
Daughter is still on the mend, or maybe there:
http://jenannlynn.org/
I can see why M* describes shared management as it does. Dad is only 73.5. Bet he still dislikes those digs.
Instead, I would consider USMV (0.15% ER) and/or RPV (0.35% ER).
Kevin
Kevindow, you have set a new very low threshold for 'bloated, end of story', but more important you seem not to be making wise comparisons, really. Good ETFs, yours, but not good comparisons. And to revisit the tired active-passive arg, just graph your RPV vs either Yackt since Labor Day 08.
Sometimes I wonder if many readers here have gotten keen on the game just since like 2010 or something.