Other
2012-05-31
0001089951
2012-11-30
MANAGERS AMG FUNDS
false
2012-11-30
2012-11-30
<tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />Annual Fund Operating Expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 74%<br />of the average value of its portfolio.</tt>
<div style="display:none">~ http://www.managersinvest.com/role/ExpenseExample_S000009875Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.managersinvest.com/role/BarChartData_S000009875Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The Essex Small/Micro Cap Growth Fund's (the "Fund") investment objective <br />is to achieve long-term capital appreciation.</tt>
<tt>This Example will help you compare the cost of investing in the Fund to the cost<br />of investing in other mutual funds. The Example makes certain assumptions. It<br />assumes that you invest $10,000 as an initial investment in the Fund for the<br />time periods indicated and then redeem all of your shares at the end of those<br />periods. It also assumes that your investment has a 5% total return each year<br />and the Fund's operating expenses remain the same. The Example reflects the<br />impact of the Fund's contractual expense limitation through October 1, 2014.</tt>
reflects no deduction for fees, expenses, or taxes
<tt>Under normal circumstances, the Fund invests at least 80% of its net assets,<br />plus the amount of any borrowings for investment purposes, in common and<br />preferred stocks of small-capitalization U.S. companies.<br /> <br />Essex Investment Management Company, LLC ("Essex") generally considers a <br />company to be a "small-capitalization" company if, at the time of purchase, <br />its market capitalization is less than or equal to the market capitalization <br />of the largest company included within the Russell 2000 ® Growth Index. As of <br />the latest reconstitution of the Index on May 31, 2012, the market capitalization <br />of the largest company included in the Russell 2000® Growth Index was approximately<br />$2.6 billion. This figure may fluctuate as market conditions change and during<br />periods of increased market volatility. The Fund's investments include U.S.<br />micro-cap companies, which, at the time of purchase, have capitalizations that<br />place them among the smallest 5% of companies listed on U.S. exchanges or in<br />over the counter (OTC) markets. The Fund currently invests a significant portion<br />of its assets in companies in the technology and health care sectors. In<br />addition, the Fund may also invest in foreign securities, primarily in the form<br />of American Depositary Receipts ("ADRs") and emerging market securities.<br />  <br />Essex serves as subadvisor to the Fund and applies fundamental investment<br />research techniques when deciding which stocks to buy or sell. Typically, Essex:<br /> <br />•   Selects companies that demonstrate accelerating growth in earnings and      <br />    revenues that Essex believes are undervalued given their financial strength. <br /> <br />•   Invests in companies from all sectors of the market based on Essex's        <br />    fundamental research and analysis of various characteristics.      <br /> <br />•   Reviews and evaluates each company's financial statements, sales and expense<br />    trends, earnings estimates, market position, and industry outlook.           <br /> <br />•   Values a company against its history, industry, and the market to identify a<br />    relatively undervalued stock as compared to its potential growth.           <br />  <br />•   Sells all or part of the Fund's holdings in a particular stock if the       <br />    valuation is no longer attractive compared with expectations of the Fund's  <br />    long-term growth.                                     <br /> <br />While Essex is committed to a small-cap and micro-cap focus for the overall<br />portfolio, Essex may decide to keep a company's stock if it has appreciated<br />beyond the market capitalization of the largest company included in the Russell<br />2000® Growth Index, as described above.</tt>
Essex Small/Micro Cap Growth Fund
EXPENSE EXAMPLE
After-tax returns are calculated using the historical highest individual
federal marginal income tax rates and do not reflect the impact of state
and local taxes.
INVESTMENT OBJECTIVE
As always, past performance of the Fund (before and after taxes) is not
an indication of how the Fund will perform in the future.
There is the risk that you may lose money on your investment.
PRINCIPAL RISKS
Although your actual costs may be higher or lower, based on the above assumptions, your cost would be:
0.74
Actual after-tax returns depend on an investor's tax situation and may
differ from those shown. After-tax returns are not relevant to investors
who hold their Fund shares through tax-deferred arrangements, such as 401
(k) plans or individual retirement accounts.
Calendar Year Total Returns as of 12/31/11 (Investor Class)
PERFORMANCE
<tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Actual after-tax returns depend on an investor's tax situation and may<br />differ from those shown. After-tax returns are not relevant to investors who<br />hold their Fund shares through tax-deferred arrangements, such as 401(k) plans<br />or individual retirement accounts.</tt>
The following performance information illustrates the risks of investing
in the Fund by showing changes in the Fund's performance from year to year
and by showing how the Fund's performance compares to that of a broad-based
securities market index.
<tt>Best Quarter: 27.07% (2nd Quarter 2003)<br /> <br />Worst Quarter: -29.43% (4th Quarter 2008)</tt>
800.835.3879
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Average Annual Total Returns as of 12/31/11
PORTFOLIO TURNOVER
<tt>There is the risk that you may lose money on your investment. All investments<br />carry a certain amount of risk and the Fund cannot guarantee that it will<br />achieve its investment objective. An investment in the Fund is not a deposit or<br />obligation of any bank, is not endorsed or guaranteed by any bank, and is not<br />insured by the Federal Deposit Insurance Corporation ("FDIC") or any other<br />government agency. Below are some of the risks of investing in the Fund.<br /> <br />Emerging Markets Risk -investments in emerging markets can be subject to the<br />general risks of foreign investments, as well as additional risks which can<br />result in greater price volatility.<br /> <br />Foreign Securities Risk -securities or other investments of foreign issuers<br />involve additional risks (such as risks arising from less frequent trading,<br />changes in political or social conditions, and less publicly available<br />information about non-U.S. issuers) that differ from those associated with<br />investing in securities of U.S. issuers and may result in greater price<br />volatility.<br /> <br />Growth Stock Risk -growth stocks may be more sensitive to market movements<br />because their prices tend to reflect future investor expectations rather than<br />just current profits.<br /> <br />Market Risk -market prices of securities held by the Fund may fall rapidly or<br />unpredictably due to a variety of factors, including changing economic,<br />political, or market conditions.<br /> <br />Political Risk -changes in the political status of any country can have profound<br />effects on the value of investments exposed to that country.<br /> <br />Sector Risk -companies or issuers that are in similar industry sectors may be<br />similarly affected by particular economic or market events; to the extent the<br />Fund has substantial holdings within a particular sector, the risks associated<br />with that sector increase. Stocks in the technology, industrials, and health<br />care sectors currently, and may in the future, comprise a significant portion of<br />the Fund's portfolio. The technology industries may be affected by technological<br />obsolescence, short product cycles, falling prices and profits, competitive<br />pressures and general market conditions. Industrial industries companies may be<br />affected by general economic trends, including employment, economic growth and<br />interest rates, changes in consumer confidence and spending, government regulation, <br />commodity prices and competitive pressures. Companies in the health care sector <br />may be affected by government regulation, government approval of products and <br />services, technological obsolescence, patent expirations, product liability or <br />other litigation, and changes in governmental and private payment systems.<br /> <br />Small- and Micro-Capitalization Stock Risk -the stocks of small- and<br />micro-capitalization companies often have greater price volatility, lower<br />trading volume, and less liquidity than the stocks of larger, more established<br />companies.</tt>
FEES AND EXPENSES OF THE FUND
PRINCIPAL INVESTMENT STRATEGIES
www. managersinvest.com
<tt>The following performance information illustrates the risks of investing in <br />the Fund by showing changes in the Fund's performance from year to year and by<br />showing how the Fund's performance compares to that of a broad-based securities<br />market index. The performance information for the Fund's Investor Class shares<br />(formerly Class A shares of the Fund, which were renamed Investor Class shares<br />as of the date of this Prospectus) for periods prior to November 30, 2012 does<br />not reflect the impact of the front end and deferred sales charges (loads) that<br />were in effect from March 1, 2006 until November 30, 2012. As always, past<br />performance of the Fund (before and after taxes) is not an indication of how <br />the Fund will perform in the future. To obtain updated performance information<br />please visit www. managersinvest.com or call 800.835.3879.<br /> <br />The performance information shown in the bar chart and table includes performance <br />of the Fund's predecessor, a 401(k) plan trust (the "Predecessor Account"), for <br />periods prior to the Fund's inception on June 25, 2002. The Predecessor Account <br />was not registered with the Securities and Exchange Commission and therefore was <br />not subject to the investment restrictions imposed on registered mutual funds. <br />If the Predecessor Account had been registered, its performance may have been <br />adversely affected. The Predecessor Account was also subject to different fees <br />and expenses than the Fund.</tt>
<tt>The table below describes the fees and expenses that you may pay if you <br />buy and hold shares of the Fund.</tt>
<div style="display:none">~ http://www.managersinvest.com/role/OperatingExpensesData_S000009875Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.managersinvest.com/role/PerformanceTableData_S000009875Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div>
An investment in the Fund is not a deposit or obligation of any bank,
is not endorsed or guaranteed by any bank, and is not insured by the
Federal Deposit Insurance Corporation ("FDIC") or any other government
agency.
Russell 2000® Growth Index (reflects no deduction for fees, expenses, or taxes)
-0.0291
0.0209
0.0448
0.0217
2006-03-01
Investor Class Return After Taxes on Distributions and Sale of Fund Shares
0.1034
-0.0239
0.0425
Investor Class Return After Taxes on Distributions
0.1590
-0.0287
0.0471
MBRSX
-0.2134
Worst Quarter:
Best Quarter:
Investor Class Return Before Taxes
148
2003-06-30
459
-0.2943
0.1574
0.2801
1735
792
0.1745
0.2707
0.1078
0.0020
-0.4772
0.0100
2014-10-01
2008-12-31
0.3097
-0.0169
0.1390
-0.1078
0.6641
0.0025
0.0557
0.0145
0.0855
0001089951
ck0001089951:SummaryS000009875Member
ck0001089951:S000009875Member
ck0001089951:C000027321Member
2012-11-30
2012-11-30
0001089951
ck0001089951:SummaryS000009875Member
ck0001089951:S000009875Member
rr:AfterTaxesOnDistributionsMember
ck0001089951:C000027321Member
2012-11-30
2012-11-30
0001089951
ck0001089951:SummaryS000009875Member
ck0001089951:S000009875Member
rr:AfterTaxesOnDistributionsAndSalesMember
ck0001089951:C000027321Member
2012-11-30
2012-11-30
0001089951
ck0001089951:SummaryS000009875Member
ck0001089951:S000009875Member
ck0001089951:RRINDEX00001Member
2012-11-30
2012-11-30
0001089951
ck0001089951:SummaryS000009875Member
ck0001089951:S000009875Member
2012-11-30
2012-11-30
0001089951
2012-11-30
2012-11-30
pure
iso4217:USD
Managers Investment Group LLC (the "Investment Manager") has contractually agreed, through October 1, 2014, to waive management fees and/or reimburse Fund expenses in order to limit Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursements (exclusive of taxes, interest (including interest incurred in connection with bank and custody overdrafts), brokerage commissions and other transaction costs, acquired fund fees and expenses, and extraordinary expenses) to 1.49% of the Fund's average daily net assets, subject to later reimbursement by the Fund in certain circumstances. In general, for a period of up to 36 months from the time of any waiver, reimbursement, or payment pursuant to the Fund's contractual expense limitation, the Investment Manager may recover from the Fund fees waived and expenses paid to the extent that such repayment would not cause the Fund's Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursements to exceed the contractual expense limitation amount. Acquired Fund Fees and Expenses are not subject to waiver and do not factor into the Fund's contractual expense limitation. The contractual expense limitation can only be terminated upon termination of the Fund's investment advisory agreement with the Investment Manager or by mutual agreement between the Investment Manager and the Fund's Board of Trustees.