You should consider the Hotchkis & Wiley Mid-Cap Value Fund’s investment objectives, risks, and charges and expenses carefully before you invest. This and other important information is contained in the Fund's summary prospectus and prospectus, which can be obtained by calling 800-796-5606. Read carefully before you invest.
Investing in small and medium-sized companies involves greater risks than those associated with investing in large company stocks. Please read the fund prospectus for a full list of fund risks.
The portfolio manager’s views and opinions expressed in this podcast are as of October 4, 2021. Such views are subject to change and may differ from others in the firm, or the firm as a whole. The portfolio manager’s comments may include estimated and/or forecasted views, which are believed to be based on reasonable assumptions within the bounds of current and historical information. However, there is no guarantee that any estimates, forecasts or views will be realized. Any discussion or view on a particular company, asset class/segment, industry/sector and/or investment type are not investment recommendations, should not be assumed to be profitable, and are subject to change.
Top ten holdings as of 9/30/22 as a % of the Fund’s net assets: Kosmos Energy Ltd. 5.1%, Popular Inc. 4.8%, Fluor Corp. 4.7%, Citizens Fin'l Group Inc. 4.0%, First Citizens Bancshares 3.5%, APA Corp. 3.4%, American Int'l Group Inc. 3.1%, Adient PLC 3.0%, F5 Inc. 2.7%, and State Street Corp. 2.6%. Fund holdings and/or sector allocations are subject to change and are not recommendations to buy or sell any security. Diversification does not assure a profit nor protect against loss in a declining market.
Free cash flow is the money a company has left over after paying its operating expenses and capital expenditures. Market capitalization refers to the total dollar market value of a company's outstanding shares of stock. OPEC - Organization of the Petroleum Exporting Countries. The S&P 500 Index is a broad-based unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. Nasdaq (National Association of Securities Dealers Automated Quotations) is a global electronic marketplace for buying and selling securities. Dow (Dow Jones Industrial Average) is a stock market index that tracks the daily price of shares of stock of 30 large publicly-owned companies sold on the US stock exchanges. The indices do not reflect the payment of transaction costs, fees and expenses associated with an investment in the Fund. The Fund’s value disciplines may prevent or restrict investment in major stocks in the indices. It is not possible to invest directly in an index.
Investing in equity securities have greater risks and price volatility than U.S. Treasuries and bonds, where the price of these securities may decline due to various company, industry, and market factors. Investing in foreign as well as emerging markets involves additional risk such as greater volatility, political, economic, and currency risks and differences in accounting methods. Investing in smaller, medium-sized and/or newer companies involves greater risks not associated with investing in large company stocks, such as business risk, significant stock price fluctuations and illiquidity.
Market Disruption: The global coronavirus pandemic has caused disruption in the global economy, unprecedented business and travel disruption and extreme fluctuations in global capital and financial markets. H&W is unable to predict the consequences of the upheaval caused by coronavirus pandemic, which has the potential to negatively impact the firm’s investment strategies and investment opportunities.
Mutual fund investing involves risk. Principal loss is possible.
The Hotchkis & Wiley Funds are distributed by Quasar Distributors, LLC