AMG GW&K ESG Bond Fund Q4 2025 Commentary

Affiliated Managers Group11 FollowersFollow5ShareSavePlay(9min)CommentsSummaryThe AMG GW&K ESG Bond Fund (Class N) returned 0.89% in the fourth quarter of 2025, compared with the 1.10% return of the Bloomberg U.S.

Aggregate Bond Index.The Fed delivered on their second and third consecutive cuts, stressing their priority to manage near-term labor market risks while striking a less hawkish policy path than feared.The Bloomberg Aggregate Bond Index returned 1.1% for the quarter, capping off the best annual return since 2020 at 7.3%.Corporate credit spreads continue to reflect limited downside risk amid low recession odds and a benign default outlook.Underperformance was driven by an out-of-benchmark allocation to high yield and an overweight to corporates. matejmo/iStock via Getty Images Performance Drivers The AMG GW&K ESG Bond Fund (Class N) returned 0.89% in the fourth quarter of 2025, compared with the 1.10% return of the Bloomberg U.S.

Aggregate Bond Index. For the 12 months ending December 31, 2025, the Fund returned 7.26%, compared with theThis article was written byAffiliated Managers Group11 FollowersFollowAMG is a strategic partner to, and long-term investor in, leading independent investment firms globally. We provide the advantages of partnership to magnify our Affiliates’ success, while preserving their autonomy and independence. We leverage our capabilities and insight, offering strategic, business development, operational, and capital support to our Affiliates, to create exceptional value for their clients and our shareholders. With AMG, Affiliates are able to expand their reach, diversify their business, and achieve further success. When Affiliates choose AMG as a partner, they are choosing independence. Not only do our partners value their autonomy, their clients also recognize that an independent firm’s entrepreneurial and investment-centric culture is instrumental to generating differentiated long-term returns. Having operated our distinct partnership model for 30 years, our entrepreneurial spirit, ownership mindset, and focus on excellence are deeply rooted. Note: This account is not managed or monitored by AMG, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use AMG's official channels.