AMG Renaissance Large Cap Growth Fund - Class N
MRLTX
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- AMG Renaissance Large Cap Growth Fund - Class N (MRLTX) is an open-end mutual fund that seeks long-term capital appreciation by investing at least 80% of its net assets in equity securities of large-capitalization U.S. companies, defined as those with market capitalizations generally exceeding $3 billion at the time of purchase; it primarily holds common stocks selected through proprietary quantitative modeling and bottom-up fundamental analysis to identify growth opportunities while managing risk. The fund offers Class N shares with a net expense ratio of 1.00%, no front-end or deferred loads, a minimum initial investment of $2,000, and daily pricing, catering to individual and institutional investors including corporations, pension plans, and charitable institutions seeking exposure to the large growth segment. Subadvised by Renaissance Investment Management, an AMG affiliate founded in 1978 and partnered with Affiliated Managers Group since 1995, the fund employs disciplined systematic processes across an equal-weighted portfolio typically comprising 55-56 holdings, with top positions in companies such as Alphabet, Broadcom, Microsoft, Amazon, and Apple as of late 2025. Renaissance Investment Management, headquartered in Covington, Kentucky, manages the fund as part of its broader U.S. large-cap growth equity strategy, which is also available through institutional separate accounts, unified managed accounts, and other AMG Funds share classes including Class I (MRLSX) and Class Z (MRLIX); the firm oversees complementary strategies in small-cap growth, international equities, emerging markets, and REITs. Affiliated Managers Group, Inc. (AMG), the parent organization founded in 1993 and headquartered in West Palm Beach, Florida, serves as a global partner to independent investment firms, providing distribution, operational support, and growth capital while preserving affiliate autonomy. The fund operates within the U.S. large growth category, with total net assets of approximately $137 million for Class N shares and aggregate fund assets around $140 million as of late 2025, available exclusively to U.S. investors through platforms like Schwab Mutual Fund OneSource. Recent developments include sustained portfolio management under lead portfolio manager Michael Schroer since the fund's inception on June 3, 2009, with Andy Eng joining as co-manager since January 2020, alongside a portfolio turnover rate of 47% reflecting active rebalancing. AMG has pursued strategic growth through new minority equity investments and partnerships, such as with Verition Fund Management in April 2025 (a global multi-strategy firm with $12.6 billion AUM), Qualitas Energy, NorthBridge Partners in Q1 2025, and Montefiore Investment (managing €5 billion in private equity), diversifying its alternatives platform and driving net client inflows of $33 billion in private markets and liquid alternatives during H1 2025. Additionally, AMG repurchased $273 million in common stock and declared quarterly dividends in 2025, while aggregate AUM reached $771 billion, underscoring operational stability and expansion supporting affiliates like Renaissance.