Performance (%)

The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher. Click here to obtain the most recent quarter-end performance. Investment return and principal value of the fund will fluctuate, and shares may be worth more or less than their original cost when redeemed.

Returns shown for A, C and R Shares for the periods prior to their inception are derived from the historical performance of I Shares of the applicable Fund during such periods and have been adjusted to reflect the higher total annual operating expenses of each specific class. Performance for classes without sales charges would be lower if the sales charges were shown. Total returns with sales charges reflect the deduction of the current maximum initial sales charges of 5.25% for A Shares (4.75% for the Capital Income Fund and 3.75% for the High Yield Fund) and the applicable contingent deferred sales charge (CDSC) for C Shares. C Shares CDSC is 1% for the first year.

LONG TERM      DAILY
FUND
CLASS
TICKER 1 MONTH 3 MONTH YTD 1 YEAR 3 YEAR 5 YEAR 10 YEAR SINCE
INCEPTION
OF CLASS I
CLASS
INCEPTION
DATE
VALUE EQUITY                    
Diversified Value Fund                    
I shares HWCIX 2.54 4.78 4.78 27.47 15.56 24.43 -- 6.98 08/30/2004
A shares (w/o sales charge) HWCAX 2.54 4.69 4.69 27.14 15.23 24.12 -- 6.71 08/30/2004
A shares HWCAX -2.86 -0.80 -0.80 20.45 13.19 22.80 -- 6.12 08/30/2004
C shares (w/o CDSC) HWCCX 2.44 4.48 4.48 26.19 14.39 23.21 -- 5.94 08/30/2004
C shares HWCCX 1.44 3.48 3.48 25.19 14.39 23.21 -- 5.94 08/30/2004
Russell 1000 Value Index 2.39 3.02 3.02 21.57 14.80 21.75 -- 7.90
S&P 500 Index 0.84 1.81 1.81 21.86 14.66 21.16 -- 7.94
Large Cap Value Fund                    
I shares HWLIX 3.01 4.98 4.98 29.54 16.58 25.32 6.08 9.32 06/24/1987
A shares (w/o sales charge) HWLAX 2.99 4.93 4.93 29.22 16.30 25.02 5.80 9.08 10/26/2001
A shares HWLAX -2.41 -0.58 -0.58 22.42 14.22 23.67 5.23 8.86 10/26/2001
C shares (w/o CDSC) HWLCX 2.91 4.72 4.72 28.21 15.41 24.08 5.07 8.25 02/04/2002
C shares HWLCX 1.91 3.72 3.72 27.21 15.41 24.08 5.07 8.25 02/04/2002
R shares HWLRX 2.92 4.86 4.86 28.87 16.02 24.70 5.54 8.80 08/28/2003
Russell 1000 Value Index 2.39 3.02 3.02 21.57 14.80 21.75 7.58 N/A
S&P 500 Index 0.84 1.81 1.81 21.86 14.66 21.16 7.42 9.44
Mid-Cap Value Fund                    
I shares HWMIX 2.15 5.42 5.42 28.01 18.88 32.65 10.51 13.89 01/02/1997
A shares (w/o sales charge) HWMAX 2.15 5.35 5.35 27.71 18.59 32.33 10.24 13.62 01/02/2001
A shares HWMAX -3.22 -0.19 -0.19 21.01 16.48 30.90 9.64 13.26 01/02/2001
C shares (w/o CDSC) HWMCX 2.07 5.15 5.15 26.74 17.70 31.35 9.50 12.80 01/02/2001
C shares HWMCX 1.07 4.15 4.15 25.74 17.70 31.35 9.50 12.80 01/02/2001
R shares HWMRX 2.11 5.28 5.28 27.38 18.32 32.01 9.97 13.42 08/28/2003
Russell Midcap Value Index 1.54 5.22 5.22 22.95 15.17 26.35 10.24 11.01
Russell Midcap Index -0.27 3.53 3.53 23.51 14.39 25.55 10.05 10.49
Small Cap Value Fund                    
I shares HWSIX 1.65 2.02 2.02 29.00 15.01 35.16 8.72 12.34 09/20/1985
A shares (w/o sales charge) HWSAX 1.63 1.96 1.96 28.67 14.72 34.84 8.45 12.09 10/06/2000
A shares HWSAX -3.70 -3.39 -3.39 21.91 12.68 33.39 7.87 11.87 10/06/2000
C shares (w/o CDSC) HWSCX 1.57 1.77 1.77 27.72 13.87 33.84 7.75 11.28 02/04/2002
C shares HWSCX 0.57 0.77 0.77 26.72 13.87 33.84 7.75 11.28 02/04/2002
Russell 2000 Value Index 1.24 1.78 1.78 22.65 12.74 23.33 8.07 N/A
Russell 2000 Index -0.68 1.12 1.12 24.90 13.18 24.31 8.53 10.16
Global Value Fund                    
I shares HWGIX 1.18 2.73 2.73 26.42 -- -- -- 30.47 12/31/2012
A shares (w/o sales charge) HWGAX 1.11 2.65 2.65 26.10 -- -- -- 30.14 08/30/2013
A shares HWGAX -4.19 -2.74 -2.74 19.49 -- -- -- 24.67 08/30/2013
Russell Developed Index 0.20 1.79 1.79 20.67 -- -- -- 23.86
Value Opportunities Fund                    
I shares HWAIX 2.08 3.15 3.15 25.00 16.70 32.67 9.71 14.26 12/31/2002
A shares (w/o sales charge) HWAAX 2.08 3.08 3.08 24.70 16.42 32.35 9.44 14.05 12/31/2002
A shares HWAAX -3.29 -2.33 -2.33 18.16 14.35 30.94 8.85 13.51 12/31/2002
C shares (w/o CDSC) HWACX 2.00 2.89 2.89 23.76 15.54 31.38 8.68 13.17 08/28/2003
C shares HWACX 1.00 1.89 1.89 22.76 15.54 31.38 8.68 13.17 08/28/2003
S&P 500 Index 0.84 1.81 1.81 21.86 14.66 21.16 7.42 9.15


INCOME
                   
Capital Income Fund                    
I shares HWIIX 1.71 4.23 4.23 17.38 14.33 -- -- 14.68 12/31/2010
A shares (w/o sales charge) HWIAX 1.64 4.12 4.12 17.11 15.06 -- -- 15.33 02/28/2011
A shares HWIAX -3.16 -0.80 -0.80 11.56 13.19 -- -- 13.61 02/28/2011
S&P 500 Index 0.84 1.81 1.81 21.86 14.66 -- -- 15.48
BofA Merrill Lynch US Corp. Govt. & Mtg Index -0.19 1.97 1.97 -0.28 3.77 -- -- 3.60
High Yield Fund                    
I shares HWHIX 0.60 2.94 2.94 8.41 9.27 16.42 -- 16.42 03/31/2009
A shares (w/o sales charge) HWHAX 0.58 2.89 2.89 8.16 8.96 15.98 -- 15.98 05/29/2009
A shares HWHAX -3.19 -0.97 -0.97 4.10 7.58 15.09 -- 15.09 05/29/2009
C shares (w/o CDSC) HWHCX 0.51 2.69 2.69 7.47 8.13 15.23 -- 15.23 12/31/2012
C shares HWHCX -0.49 1.69 1.69 6.47 8.13 15.23 -- 15.23 12/31/2012
BofA Merrill Lynch US High Yield BB-B (Cons. 2%) Index 0.20 2.98 2.98 6.91 8.45 15.71 -- 15.71

Gross expense ratios:  Diversified Value Fund:  1.06% - I Shares, 1.31% - A Shares, 2.06% - C Shares; Large Cap Value Fund:  1.05% - I Shares, 1.30% - A Shares, 2.05% - C Shares, 1.55% - R Shares; Mid-Cap Value Fund:  1.07% - I Shares, 1.32% - A Shares, 2.07% - C Shares, 1.57% - R Shares; Small Cap Value Fund:  1.04% - I Shares; 1.29% - A Shares; 2.04% - C Shares; Global Value Fund:  11.75% - I Shares, 12.00% - A Shares; Value Opportunities Fund:  1.04% - I Shares, 1.29% - A Shares, 2.04% - C Shares; Capital Income Fund:  1.85% - I Shares, 1.99% - A Shares; High Yield Fund:  0.75% - I Shares, 1.00% - A Shares, 1.74% - C Shares.

Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced.  The Advisor has contractually agreed to fee waivers to limit Fund net expenses through October 31, 2014.

Mutual fund investing involves risk. Principal loss is possible.  Diversification does not assure a profit nor protect against loss in a declining market.

Hotchkis & Wiley Diversified Value Fund
The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. The Fund may invest in American Depository Receipts (“ADRs”) and Global Depository Receipts (“GDRs”) which may be subject to some of the same risks as direct investment in foreign companies.

Hotchkis & Wiley Large Cap Value Fund
The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. The Fund may invest in American Depository Receipts (“ADRs”) and Global Depository Receipts (“GDRs”) which may be subject to some of the same risks as direct investment in foreign companies.

Hotchkis & Wiley Mid-Cap Value Fund
Investing in small and medium-sized companies involves greater risks than those associated with investing in large company stocks, such as business risk, significant stock price fluctuations and illiquidity. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Hotchkis & Wiley Small Cap Value Fund
Investing in smaller and/or newer companies involves greater risks than those associated with investing in larger companies, such as business risk, significant stock price fluctuations and illiquidity. The Fund may invest in ETFs, which are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund’s ability to sell its shares.  The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Hotchkis & Wiley Global Value Fund
The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for emerging markets. The Fund may invest in American Depository Receipts (“ADRs”) and Global Depository Receipts (“GDRs”) which may be subject to some of the same risks as direct investment in foreign companies.

Hotchkis & Wiley Value Opportunities Fund
Investing in non-diversified funds and/or smaller and/or medium-sized companies involves greater risks than those associated with investing in diversified funds and/or large company stocks, such as business risk, significant stock price fluctuations, sector concentration and illiquidity. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund.  The Fund may invest in ETFs, which are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund’s ability to sell its shares. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. The Fund may invest in derivative securities, which derive their performance from the performance of an underlying asset, index, interest rate or currency exchange rate. Derivatives can be volatile and involve various types and degrees of risks. Depending on the characteristics of the particular derivative, it could become illiquid.

Hotchkis & Wiley Capital Income Fund
Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. The Fund may invest in derivative securities, which derive their performance from the performance of an underlying asset, index, interest rate or currency exchange rate. Derivatives can be volatile and involve various types and degrees of risks. Depending on the characteristics of the particular derivative, it could become illiquid. Investment in Asset Backed and Mortgage Backed Securities include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The Fund may invest in foreign as well as emerging markets which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Hotchkis & Wiley High Yield Fund
Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. The Fund may invest in derivative securities, which derive their performance from the performance of an underlying asset, index, interest rate or currency exchange rate. Derivatives can be volatile and involve various types and degrees of risks. Depending on the characteristics of the particular derivative, it could become illiquid. Investment in Asset Backed and Mortgage Backed Securities include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The Fund may invest in foreign as well as emerging markets which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Index definitions

 

The Hotchkis & Wiley Funds are distributed by Quasar Distributors, LLC