Performance « Hotchkis & Wiley

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COMPOSITE	QUARTER	YTD	1 YEAR	3 YEAR	5 YEAR	10 YEAR	SINCE INCEPTION	INCEPTION DATE	GIPS COMPLIANT PRESENTATION
VALUE EQUITY
Large Cap Diversified Value								04/01/2000	Performance PDF
Gross of Fees	12.58	12.58	17.57	12.32	5.84	9.78	7.50
Net of Fees	12.52	12.52	17.32	12.07	5.56	9.48	7.22
Russell 1000 Value Index	12.31	12.31	18.77	12.74	4.85	9.18	5.25
S&P 500 Index	10.61	10.61	13.96	12.67	5.81	8.53	2.27
Large Cap Fundamental Value								07/01/1980	Performance PDF
Gross of Fees	13.66	13.66	18.50	12.92	5.75	9.56	13.27
Net of Fees	13.55	13.55	18.02	12.43	5.25	9.07	12.79
Russell 1000 Value Index	12.31	12.31	18.77	12.74	4.85	9.18	11.93
S&P 500 Index	10.61	10.61	13.96	12.67	5.81	8.53	11.35
Mid-Cap Value								01/01/1997	Performance PDF
Gross of Fees	17.74	17.74	26.63	18.95	14.67	15.11	14.31
Net of Fees	17.55	17.55	25.77	18.16	13.89	14.32	13.42
Russell Midcap Value Index	14.21	14.21	21.49	14.96	8.53	12.57	10.24
Russell Midcap Index	12.96	12.96	17.30	14.62	8.37	12.27	9.65
Small Cap Value								10/01/1985	Performance PDF
Gross of Fees	16.29	16.29	26.11	17.26	12.43	13.73	12.76
Net of Fees	16.11	16.11	25.30	16.50	11.70	12.96	11.90
Russell 2000 Value Index	11.63	11.63	18.09	12.12	7.29	11.29	11.21
Russell 2000 Index	12.39	12.39	16.30	13.45	8.24	11.52	9.73
Value Opportunities								11/01/2002	Performance PDF
Gross of Fees	13.96	13.96	25.07	18.70	16.04	15.07	14.90
Net of Fees	13.76	13.76	24.15	17.82	15.18	14.22	14.04
Russell 3000 Value Index	12.26	12.26	18.71	12.70	5.05	9.33	8.61
S&P 500 Index	10.61	10.61	13.96	12.67	5.81	8.53	7.81
Global Value								07/11/2011	Performance PDF
Gross of Fees	11.08	11.08	18.45	--	--	--	12.62
Net of Fees	10.97	10.97	18.04	--	--	--	12.26
Russell Developed Index	8.29	8.29	13.02	--	--	--	7.22
INCOME
Capital Income								10/01/2010	Performance PDF
Gross of Fees	9.67	9.67	17.96	--	--	--	15.86
Net of Fees	9.50	9.50	17.21	--	--	--	15.12
S&P 500 Index	10.61	10.61	13.96	--	--	--	16.07
BofA Merrill Lynch US Corp. Govt. & Mtg. Index	-0.13	-0.13	3.98	--	--	--	4.23
High Yield								05/01/2009	Performance PDF
Gross of Fees	3.43	3.43	15.29	12.82	--	--	18.08
Net of Fees	3.32	3.32	14.79	12.31	--	--	17.52
BofA Merrill Lynch US High Yield BB-B (Constrained 2%) Index	2.40	2.40	12.36	10.68	--	--	15.85

COMPOSITE	QUARTER	YTD	1 YEAR	3 YEAR	5 YEAR	10 YEAR	SINCE INCEPTION	INCEPTION DATE	GIPS COMPLIANT PRESENTATION
VALUE EQUITY
Large Cap Diversified Value								04/01/2000	Performance PDF
Gross of Fees	3.78	21.11	21.11	11.53	0.97	7.83	6.65
Net of Fees	3.72	20.85	20.85	11.27	0.69	7.54	6.37
Russell 1000 Value Index	1.52	17.51	17.51	10.86	0.59	7.38	4.40
S&P 500 Index	-0.38	16.00	16.00	10.87	1.66	7.10	1.51
Large Cap Fundamental Value								07/01/1980	Performance PDF
Gross of Fees	3.39	19.73	19.73	12.02	0.82	7.45	12.93
Net of Fees	3.28	19.23	19.23	11.53	0.34	6.97	12.45
Russell 1000 Value Index	1.52	17.51	17.51	10.86	0.59	7.38	11.62
S&P 500 Index	-0.38	16.00	16.00	10.87	1.66	7.10	11.09
Mid-Cap Value								01/01/1997	Performance PDF
Gross of Fees	5.66	32.36	32.36	18.33	8.62	12.86	13.38
Net of Fees	5.48	31.46	31.46	17.54	7.88	12.09	12.50
Russell Midcap Value Index	3.93	18.51	18.51	13.39	3.79	10.63	9.49
Russell Midcap Index	2.88	17.28	17.28	13.15	3.57	10.65	8.97
Small Cap Value								10/01/1985	Performance PDF
Gross of Fees	5.48	24.37	24.37	17.27	8.36	11.75	12.26
Net of Fees	5.31	23.56	23.56	16.51	7.65	10.99	11.40
Russell 2000 Value Index	3.22	18.05	18.05	11.57	3.55	9.50	10.87
Russell 2000 Index	1.85	16.35	16.35	12.25	3.56	9.72	9.35
Value Opportunities								11/01/2002	Performance PDF
Gross of Fees	6.14	30.98	30.98	18.85	11.01	13.30	13.81
Net of Fees	5.95	30.03	30.03	17.97	10.18	12.46	12.96
Russell 3000 Value Index	1.65	17.55	17.55	10.92	0.83	7.54	7.60
S&P 500 Index	-0.38	16.00	16.00	10.87	1.66	7.10	6.94
Global Value								07/11/2011	Performance PDF
Gross of Fees	6.04	26.73	26.73	--	--	--	7.09
Net of Fees	5.94	26.33	26.33	--	--	--	6.76
Russell Developed Index	2.79	16.89	16.89	--	--	--	2.86
INCOME
Capital Income								10/01/2010	Performance PDF
Gross of Fees	1.67	15.44	15.44	--	--	--	13.01
Net of Fees	1.51	14.70	14.70	--	--	--	12.29
S&P 500 Index	-0.38	16.00	16.00	--	--	--	12.81
BofA Merrill Lynch US Corp. Govt. & Mtg. Index	0.24	4.42	4.42	--	--	--	4.76
High Yield								05/01/2009	Performance PDF
Gross of Fees	3.90	19.20	19.20	13.83	--	--	18.31
Net of Fees	3.79	18.69	18.69	13.31	--	--	17.75
BofA Merrill Lynch US High Yield BB-B (Constrained 2%) Index	3.08	14.58	14.58	11.33	--	--	16.25

COMPOSITE	QUARTER	YTD	1 YEAR	3 YEAR	5 YEAR	10 YEAR	SINCE INCEPTION	INCEPTION DATE	GIPS COMPLIANT PRESENTATION
VALUE EQUITY
Large Cap Diversified Value								04/01/2000	Performance PDF
Gross of Fees	5.77	16.70	30.85	11.31	-1.57	8.69	6.47
Net of Fees	5.71	16.51	30.56	11.04	-1.85	8.40	6.19
Russell 1000 Value Index	6.51	15.75	30.92	11.84	-0.90	8.17	4.36
S&P 500 Index	6.35	16.44	30.20	13.20	1.05	8.01	1.58
Large Cap Fundamental Value								07/01/1980	Performance PDF
Gross of Fees	5.43	15.81	30.21	11.57	-1.56	8.18	12.92
Net of Fees	5.32	15.44	29.66	11.07	-2.04	7.69	12.44
Russell 1000 Value Index	6.51	15.75	30.92	11.84	-0.90	8.17	11.67
S&P 500 Index	6.35	16.44	30.20	13.20	1.05	8.01	11.20
Mid-Cap Value								01/01/1997	Performance PDF
Gross of Fees	4.93	25.26	50.64	17.07	5.16	13.54	13.22
Net of Fees	4.75	24.62	49.63	16.29	4.44	12.76	12.33
Russell Midcap Value Index	5.80	14.03	29.28	13.86	1.73	10.96	9.38
Russell Midcap Index	5.59	14.00	28.03	14.26	2.24	11.18	8.93
Small Cap Value								10/01/1985	Performance PDF
Gross of Fees	4.76	17.91	35.64	16.60	5.29	12.24	12.16
Net of Fees	4.59	17.34	34.77	15.85	4.60	11.47	11.30
Russell 2000 Value Index	5.67	14.37	32.63	11.72	1.35	9.68	10.85
Russell 2000 Index	5.25	14.23	31.91	12.99	2.21	10.17	9.37
Value Opportunities								11/01/2002	Performance PDF
Gross of Fees	5.57	23.40	38.56	18.45	8.39	--	13.50
Net of Fees	5.38	22.72	37.55	17.57	7.57	--	12.66
Russell 3000 Value Index	6.44	15.64	31.05	11.83	-0.72	--	7.62
S&P 500 Index	6.35	16.44	30.20	13.20	1.05	--	7.17
Global Value								07/11/2011	Performance PDF
Gross of Fees	7.19	19.51	32.29	--	--	--	3.61
Net of Fees	7.11	19.25	31.90	--	--	--	3.30
Russell Developed Index	6.94	13.71	22.57	--	--	--	1.20
INCOME
Capital Income								10/01/2010	Performance PDF
Gross of Fees	5.06	13.54	25.15	--	--	--	13.82
Net of Fees	4.89	12.99	24.35	--	--	--	13.09
S&P 500 Index	6.35	16.44	30.20	--	--	--	14.76
BofA Merrill Lynch US Corp. Govt. & Mtg. Index	1.62	4.17	5.28	--	--	--	5.25
High Yield								05/01/2009	Performance PDF
Gross of Fees	5.35	14.73	21.94	15.16	--	--	18.46
Net of Fees	5.24	14.36	21.42	14.61	--	--	17.89
BofA Merrill Lynch US High Yield BB-B (Constrained 2%) Index	4.45	11.16	17.70	11.90	--	--	16.51

COMPOSITE	QUARTER	YTD	1 YEAR	3 YEAR	5 YEAR	10 YEAR	SINCE INCEPTION	INCEPTION DATE	GIPS COMPLIANT PRESENTATION
VALUE EQUITY
Large Cap Diversified Value								04/01/2000	Performance PDF
Gross of Fees	-4.86	10.34	0.87	16.33	-4.16	6.01	6.12
Net of Fees	-4.92	10.21	0.64	16.05	-4.44	5.72	5.84
Russell 1000 Value Index	-2.20	8.68	3.01	15.80	-2.19	5.28	3.92
S&P 500 Index	-2.75	9.49	5.45	16.40	0.22	5.33	1.10
Large Cap Fundamental Value								07/01/1980	Performance PDF
Gross of Fees	-4.35	9.84	2.42	16.97	-3.99	5.53	12.84
Net of Fees	-4.46	9.61	1.98	16.44	-4.46	5.05	12.36
Russell 1000 Value Index	-2.20	8.68	3.01	15.80	-2.19	5.28	11.54
S&P 500 Index	-2.75	9.49	5.45	16.40	0.22	5.33	11.08
Mid-Cap Value								01/01/1997	Performance PDF
Gross of Fees	-2.99	19.38	5.49	25.34	1.27	10.41	13.09
Net of Fees	-3.17	18.98	4.75	24.50	0.57	9.65	12.21
Russell Midcap Value Index	-3.26	7.78	-0.37	19.92	-0.13	8.17	9.15
Russell Midcap Index	-4.40	7.97	-1.65	19.44	1.06	8.45	8.70
Small Cap Value								10/01/1985	Performance PDF
Gross of Fees	-1.85	12.56	-3.68	26.28	0.30	9.37	12.08
Net of Fees	-2.02	12.20	-4.32	25.47	-0.36	8.63	11.23
Russell 2000 Value Index	-3.01	8.23	-1.44	17.43	-1.05	6.50	10.73
Russell 2000 Index	-3.47	8.53	-2.08	17.80	0.54	7.00	9.25
Value Opportunities								11/01/2002	Performance PDF
Gross of Fees	-2.07	16.89	0.92	26.94	4.34	--	13.24
Net of Fees	-2.25	16.46	0.16	26.00	3.55	--	12.40
Russell 3000 Value Index	-2.26	8.64	2.64	15.93	-2.10	--	7.13
S&P 500 Index	-2.75	9.49	5.45	16.40	0.22	--	6.68
Global Value								07/11/2011	Performance PDF
Gross of Fees	-6.18	11.50	-2.47	--	--	--	-2.47
Net of Fees	-6.26	11.33	-2.76	--	--	--	-2.76
Russell Developed Large Cap Index	-4.94	6.39	-4.73	--	--	--	-4.73
Russell Developed Index	-5.05	6.33	-5.08	--	--	--	-5.08
INCOME
Capital Income								10/01/2010	Performance PDF
Gross of Fees	0.70	8.07	8.63	--	--	--	12.74
Net of Fees	0.53	7.72	7.93	--	--	--	12.01
S&P 500 Index	-2.75	9.49	5.45	--	--	--	13.01
BofA Merrill Lynch US Corp. Govt. & Mtg. Index	2.20	2.50	7.64	--	--	--	5.06
High Yield								05/01/2009	Performance PDF
Gross of Fees	1.83	8.90	6.46	17.32	--	--	18.11
Net of Fees	1.72	8.67	6.00	16.76	--	--	17.53
BofA Merrill Lynch US High Yield BB-B (Constrained 2%) Index	1.91	6.42	7.02	14.25	--	--	16.33

Performance quoted represents past performance and does not guarantee future results.

Index definitions

Performance (%)