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You should consider the Hotchkis and Wiley Funds' investment objectives, risks, and charges and expenses carefully before you invest. The Fund's prospectus, which can be obtained by calling 1.800.796.5606, contains this and other information about the Fund. Read the prospectus carefully before you invest. You may also print the current prospectus from this website under "Download Center". The Hotchkis and Wiley Funds are available only to residents in the United States and its territories NOT FDIC INSURED • NO BANK GUARANTEE •
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