Yacktman Fund

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Daily Pricing 04/15/2014
Service
NAV: $23.61
NAV $ Change: $0.11
NAV % Change: 0.47%
YTD Return (as of 03/31/2014)
- at NAV 0.76%

The performance shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields on the Fund are net of expenses. Performance shown does not include applicable front-end or CDSC sales charges, or redemption fees which would have reduced the performance. Click here to see fund performance.

Managers Investment Group

Fund Updates

Effective December 31, 2013, the Fund will be closed to new investors subject to limited circumstances as enumerated in the Prospectus.

YACKX Morningstar Risk-Adjusted Return Ratings as of March 31, 2014
Overall Rating 3 Years 5 Years 10 Years Category

(of 1361 Funds)

(of 1361 Funds)

(of 1219 Funds)

(of 806 Funds)
Large Blend

Fund Facts (as of 3/31/2014)

Investment Style: Large-Cap Core Value
Benchmark(s): S&P 500
Subadvisor(s): Yacktman Asset Management LP
Fund Net Assets: $13,717,135,384

Share Class Facts

Share Class: Service
Ticker: YACKX
Cusip: 561709478
Inception Date: 7/6/1992
Expense Ratio:
(Gross / Net)
0.76% / 0.76%
Minimum Investment:
Initial / Subsequent
$2,500 / $100
Minimum IRA Investment:
Initial / Subsequent
$500 / $100
Maximum Sales Charges: N/A
12b-1 Fees: N/A

Fund Focus

The Yacktman Fund seeks long-term capital appreciation, and, to a lesser extent, current income. The Fund mainly invests in common stocks of United States companies of any size, some, but not all of which, pay dividends. Yacktman employs a disciplined investment strategy, buying growth companies at what it believes to be low prices. Yacktman believes this approach combines the best features of "growth" and "value" investing. When they purchase stocks they generally search for companies they believe to possess one or more of the following three attributes: (1) good business; (2) shareholder-oriented management; or (3) low purchase price.

Good Business

A good business may contain one or more of the following:

  • High market share in principal product and/or service lines;
  • A high cash return on tangible assets;
  • Relatively low capital requirements allowing a business to generate cash while growing;
  • Short customer repurchase cycles and long product cycles; and
  • Unique franchise characteristics.

Shareholder-Oriented Management

Yacktman believes a shareholder-oriented management does not overcompensate itself and wisely allocates the cash the company generates. Yacktman looks for companies that:

  • Reinvest in the business and still have excess cash;
  • Make synergistic acquisitions; and
  • Buy back stock.

Low Purchase Price

  • Yacktman looks for a stock that sells for less than what an investor would pay to buy the whole company.
  • The stock prices of individual companies can vary significantly over short periods of time, and such price movements are not always correlated with changes in company fundamental performance. Accordingly, Yacktman generally prefers to wait for buying opportunities. Such opportunities do not always occur in correlation with overall market performance trends.

Where This Fund May Fit As Part Of Your Asset Allocation

The Yacktman Fund may be appropriate for your overall investment allocation if you are:

  • Looking to gain exposure to domestic and foreign equity securities
  • Seeking long-term capital appreciation
  • Willing to accept short-term volatility of returns
Disclosure

For MIG Funds: Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or download a free prospectus. Read it carefully before investing or sending money.

Annual expense ratio as of April 29, 2013.

Fund inception dates reflect that of the Predecessor Fund, which was reorganized into the Fund on June 29, 2012.

A short-term redemption fee of 2% will be charged on redemptions of Fund shares held for 60 days or less.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metric.

Morningstar Rating is for the share class indicated only (see ticker), other share classes may have different performance characteristics. The Ranking may reflect the waiver of all or a portion of the fund's fees. Without such waiver, the Rankings may have been lower. Past performance is no guarantee of future results.

© 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

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