High Yield Fund Information

HIGH YIELD
Class Symbol Cusip Service
12b-1
Fee 		Total
Expense
Ratio*
A HWHAX 44134R727 0.25% 0.95%
I HWHIX 44134R735 none 0.70%
Minimums for Class A
$2,500 minimum initial investment
$1,000 IRA minimum initial investment

Minimums for Class I
$1,000,000 minimum initial investment


As of 6/30/10. * Net of reimbursement


The Advisor has contractually agreed to waive management fees and/or reimburse expenses through October 31, 2011 to certain limits.

Service 12b-1 fees are fees used to compensate selected securities dealers or other financial intermediaries for account maintenance and distribution activities.

You should consider the Hotchkis and Wiley Funds’ investment objectives, risks, and charges and expenses carefully before you invest. This and other important information is contained in the Funds’ summary prospectus and prospectus, which can be obtained by calling 1.800.796.5606. You may also print this information from the Download Center under "Fund Literature". Read carefully before you invest.

The Hotchkis and Wiley Funds are available only to residents in the United States and its territories

NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
The Hotchkis and Wiley Funds are distributed by Quasar Distributors, LLC