Hotchkis and Wiley Funds

Our roots are in the institutional asset management business. For over 28 years, we have managed money for some of the country's largest and most respected organizations. Over the past several years, we have developed and broadened our business to offer a series of mutual funds designed to serve the needs of investment professionals and their clients. For these clients we bring the same consistent value-based investment approach to building wealth that we use for our institutional clients.

At Hotchkis and Wiley, we don't experiment with new fads or approaches to value investing. When building a portfolio using a Hotchkis and Wiley Fund, you can be assured that you will get a true value investment strategy. Simply stated, we believe in a few timeless investing principles and adhere to them fervently:

	A strict focus on valuation
	Independent thinking and intensive fundamental research
	Effective risk management

Hotchkis and Wiley's mutual fund family dates to 1985 with the launch of our Small Cap Value Fund. Since that time we have launched 4 additional funds, each of which share our institutional strategy managed in a similar fashion. A firm timeline is shown below:

Mutual Fund investing involves risk, loss of principal is possible.

You should consider the Hotchkis and Wiley Funds’ investment objectives, risks and charges and expenses carefully before you invest. The Funds’ prospectus, which can be obtained by calling 1.800.796.5606, contains this and other information about the Funds. 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 • MAY LOSE VALUE
The Hotchkis and Wiley Funds are distributed by Quasar Distributors, LLC