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AMG GW&K Core Bond ESG Fund Q4 2025 Commentary

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⚡ Quantum Brief
The AMG-managed Core Bond ESG Fund (Class N) underperformed its Bloomberg U.S. Aggregate Bond Index benchmark in Q4 2025, posting a 0.87% return versus the benchmark’s 1.10%. For 2025, the fund trailed slightly with a 7.07% annual return compared to the benchmark’s 7.30%, reflecting consistent but modest lag across multiple share classes. Securitized products, particularly agency mortgage-backed securities (MBS), drove Q4 gains, outperforming broader fixed-income sectors amid shifting market conditions. Boston-based GW&K, founded in 1974, manages the fund with a research-intensive approach, led by portfolio managers Mary F. Kane and Brett Kozlowski, both CFAs. AMG’s partnership model emphasizes affiliate autonomy, leveraging operational support to enhance independent firms’ long-term performance and client value.
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Affiliated Managers Group11 FollowersFollow5ShareSavePlay(10min)CommentsSummaryThe AMG GW&K Core Bond ESG Fund (Class N) returned 0.87% in the fourth quarter of 2025, compared with a return of 1.10% for its benchmark, the Bloomberg U.S.

Aggregate Bond Index.For the 12 months ending December 31, 2025, the Fund returned 7.07%, versus 7.30% for the benchmark. Please note that this Fund has multiple share classes.Securitized products delivered strong performance in the fourth quarter, led by the outperformance of the agency MBS sector. primeimages/E+ via Getty Images Headquarters Boston, MA Founded 1974 Specialization Active, research-intensive municipal bond strategies, as well as taxable bond and equity strategies Portfolio Managers Mary F. Kane, CFA Brett Kozlowski, CFA Average Annual Returns (%)2 (as ofThis 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.

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