AMG GW&K Emerging Markets Equity Fund Class N
TLEVX
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- AMG GW&K Emerging Markets Equity Fund Class N (TLEVX) is an open-end mutual fund that seeks long-term capital appreciation by investing primarily in equity securities of companies located in emerging market countries. The fund, managed by GW&K Investment Management, LLC as subadvisor and part of the AMG Funds family, focuses on diversified emerging markets equities, including common stocks, American Depositary Receipts, and Global Depositary Receipts of companies domiciled or conducting significant business in emerging markets such as Asia, Latin America, and Eastern Europe. It employs a fundamental, bottom-up investment process emphasizing high-quality companies with sustainable growth prospects, financial strength, and attractive valuations relative to peers, typically holding 40-80 positions to manage risk while targeting outperformance over full market cycles. The fund offers Class N shares with a net expense ratio reflecting standard mutual fund fees, alongside other share classes like Class I (TLESX), and maintains a portfolio benchmarked against diversified emerging markets indices, with net assets under management of approximately $752,000 as of recent data. Core investment practices include borrowing for leverage in limited cases, cash equivalents such as bank obligations and commercial paper, and flexibility to invest up to 20% in developed market securities or other instruments for liquidity or hedging. In recent developments, the fund traces its origins to the former AMG Trilogy Emerging Markets Equity Fund, which rebranded to AMG GW&K Emerging Markets Equity Fund effective January 31, 2019, following affiliation with GW&K Investment Management. GW&K-related emerging markets strategies have seen operational changes, including the closure of certain European-domiciled feeder funds like the Aegon GW&K Emerging Markets Equity (BLK) in January 2024 due to low assets and manager decisions, with assets transitioned to alternative emerging markets vehicles. No major new acquisitions, funding rounds, or product launches specific to TLEVX have been reported in the last 1-2 years, though the broader GW&K platform continues to emphasize emerging wealth equity strategies targeting "best-in-class" emerging market leaders. Headquartered in Boston, Massachusetts, GW&K Investment Management, an affiliate of Affiliated Managers Group, Inc. (AMG), oversees the fund without notable subsidiaries or parent reorganizations impacting operations recently.