AMG Systematica Managed Futures Strategy Fund: Platform Profile

Overview

AMG Systematica Managed Futures Strategy Fund is a U.S. registered mutual fund using Systematica's systematic trend-following process.

Current structure:

• Investment manager: AMG Funds LLC
• Subadviser: Systematica Investments Limited, acting as GP of Systematica Investments LP
• Registered open end fund: Yes
• Inception: 2024-03

May fit better for

• investors seeking systematic trend following through a mutual fund;
• investors who need daily purchase/redemption access;
• investors who prefer no private CTA subscription process;
• users choosing among retail and institutional share classes;
• accounts seeking global derivatives exposure;
• investors comfortable with an algorithmic trend process.

May fit less well for

• investors seeking a low-cost index fund;
• users who want no derivative leverage;
• investors who assume "absolute return" means positive every year;
• clients seeking a private customized SMA;
• users who confuse Systematica's broader institutional strategies with this specific fund;
• investors relying on expired fee-waiver data.

Current share-class minimums

Current February 1, 2026 summary prospectus:

• Class n:
• Ticker: SMFNX
• Regular minimum: $2,000
• IRA minimum: $1,000
• Class i:
• Ticker: SMFIX
• Regular minimum: $100,000
• IRA minimum: $25,000
• Class z:
• Ticker: SMFZX
• Regular minimum: $5,000,000
• IRA minimum: $50,000

Additional minimums:

• Class n additional: $100
• Class i additional: $100
• Class z additional: $1,000

Current net operating expenses are 1.50%, 1.20%, and 1.10%

Current 2026 summary prospectus:

• Class n:
• Gross expense: 4.46%
• Net expense after waiver: 1.50%
• Class i:
• Gross expense: 4.16%
• Net expense after waiver: 1.20%
• Class z:
• Gross expense: 4.06%
• Net expense after waiver: 1.10%

The large difference between gross and net expenses is material.

Current management fee is 1.20% with a temporary 0.30% waiver

Current 2026 disclosure:

• Stated management fee: 1.20%
• Temporary management fee waiver: 0.30%
• Effective management fee during waiver: 0.90%
• Fee waiver end: 2027-02-01

The expense-cap framework is also stated through at least February 1, 2027.

The fund is systematic trend following

Current prospectus:

• Systematic: Yes
• Trend following: Yes
• Multiple time horizons: Yes
• Model horizons: few days to few months

Position decisions are made systematically using quantitative algorithms overseen by the Systematica Group.

The derivatives universe is broad

Current prospectus includes:

• commodity futures;
• currencies;
• currency forwards;
• equity-index futures;
• bond futures;
• interest-rate futures;
• exchange-traded derivatives;
• OTC derivatives.

The Cayman subsidiary is part of commodity exposure

Current prospectus permits up to 25% of total assets, measured at the time of investment, in a wholly owned Cayman subsidiary used to gain commodity-market exposure within applicable tax/regulatory constraints.

Systematica manages more than this one fund

Current Systematica first-party site reports:

• Firm AUM: $13B+

and strategies spanning:

• trend following;
• macro non-trend;
• multi-strategy;
• equity market neutral;
• customized solutions.

Daily liquidity is a mutual-fund feature

Current prospectus states shares can be purchased or sold on days the NYSE is open.

That does not eliminate derivative or market risk.

Assessment

The fund is one of the more accessible direct implementations of institutional-style trend following in a U.S. mutual-fund wrapper.

The most important current fact is the fee waiver.

Gross expenses are above 4% across all three share classes.

Current net expenses fall to:

• 1.50% Class N;
• 1.20% Class I;
• 1.10% Class Z

because of the contractual waiver/expense-cap structure through February 1, 2027.

Any later review must re-check that date before carrying forward those net figures.