|Expense Ratio (net)||0.71%|
|Last Cap Gain||0.00|
|Morningstar Risk Rating||Below Average|
|5y Average Return||N/A|
|Average for Category||N/A|
|Inception Date||Jul 6, 1992|
Scoreboard Stephen Yacktman is officially on a stock-buying strike in the U.S. “We’ve been willing before to go down with the ship and say, ‘We’re not going to invest your money,’ ” the co-manager of the AMG Yacktman fund says. The fund has experienced $1.2 billion in outflows in the past year as its 13.2% return in that period has trailed the market by 3.5 percentage points, and its fully invested peers, by 1.9 points. Managers used to hold cash to handle redemptions, but now they can use exchange-traded funds as a liquidity tool—making the decision to hold cash more about investing strategy than fund administration, says Russel Kinnel, Morningstar’s director of manager research.
But market corrections are surprisingly common and surprisingly short-lived. Bear markets are another story. Here's what you need to know.