AMG GW&K International Small Cap Fund (MECAX) is an open-end mutual fund that seeks long-term capital appreciation by investing primarily in a portfolio of equity securities issued by foreign small market capitalization companies. The fund, classified in the Foreign Small/Mid Blend category with a blend investment style, normally invests at least 40% of its net assets in investments economically tied to countries outside the U.S., holding positions in a minimum of three such countries; its portfolio emphasizes common stocks of companies with improving fundamentals, diversified across sectors including consumer cyclical (26.91%), industrials (24.35%), and technology (16.10%), with top regional exposures in Japan (38.25%), the Eurozone (17.36%), and the United Kingdom (10.57%). Top holdings include Gift Holdings Inc. (2.87%), Tel Aviv Stock Exchange Ltd. (2.81%), Senshu Electric Co Ltd. (2.56%), Kitron ASA (2.48%), and Digital Information Technologies Corp. (2.31%), representing 13.03% of the portfolio.
Managed by GW&K Investment Management LLC, a Boston-based affiliate of Affiliated Managers Group Inc. (AMG) founded in 1974 and headquartered at 222 Berkeley Street, Boston, Massachusetts, the fund offers Class N shares with a net expense ratio of 1.14%, total net assets of $35.41 million, and a share class size of $3.23 million; it is available for sale in the United States with a minimum initial investment of $2,000.
Current portfolio managers are Daniel Miller, Reid Galas, and Karl Kyriss, each since October 8, 2020. The fund launched on April 1, 1996, and targets investors seeking exposure to international small-cap equities for growth and diversification benefits through bottom-up fundamental research focused on quality companies.