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AMG Parent Rating


The leadership team of Affiliated Managers Group AMG has stabilized and made sensible acquisitions.

But the team has more to prove, and the lineup does n't stand out in aggregate. It retains an Average Parent rating.

Since Jay Horgen was named CEO in 2019, the firm's management team has largely stayed the same, and it has made some solid additions to AMG's roster of affiliates—including Parnassus and another sustainability-oriented manager, and three private credit-oriented firms. AMG's substantial exposure to alternatives (more than 35% of total assets under management) should help shield it from passive competition.

The team has also pruned the fund lineup, liquidating or merging away 13 offerings since the start of 2019; the firm's hand was arguably forced by a rising tide of outflows from these strategies. AMG has long acted as more of a holding company, leaving most investment decisions to its affiliates. But that hasn't always worked out. An entire affiliate, Chicago Equity Partners, shut down in 2020 amid performance woes and massive redemptions. To make matters worse, the AMG allocation fund that firm managed was handed to another affiliate, GW&K, which has minimal allocation experience. The portfolio has performed very poorly since.

AMG still has well-respected affiliates such as Yacktman, Tweedy Browne, Harding Loevner, and now Parnassus. But long-term performance from its lineup, on average, has been middling.

AMG Investments

Mutual Funds

See All AMG Funds


US Open-end ex MM ex FoF ex Feeder

Total Net Assets

21.63 Bil

Investment Flows (TTM)

−2.48 Bil

Asset Growth Rate (TTM)


# of Share Classes

Morningstar Rating # of Share Classes
Not Rated 5

Morningstar Mentions

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