Mutual Funds

Capital Income Fund - reorganized 6/26/20 into High Yield Fund

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Allocation--50% to 70% Equity

Fund Overview

The Capital Income Fund targets capital appreciation and current income through a diversified portfolio of undervalued stocks and high yield bonds. We believe the Fund’s advantage comes from its flexibility to invest across the capital structure, seeking the best risk-adjusted opportunities within targeted allocation ranges.

As of 06/26/2020
NAV$ Change% Change

Fund Facts

As of 05/31/2020
Open To New InvestorsClosed
Minimum Investment$2,500
Inception Date02/28/2011
Net Expense Ratio*1.06%
Gross Expense Ratio*1.62%
Dividend ScheduleMonthly
Size of Fund (millions)$16
30-Day SEC Yield with Expense Waiver5.70%
30-Day SEC Yield w/o Expense Waiver4.82%

Portfolio Managers

Mark Hudoff
10 Years with H&W 33 Years of Industry Experience
Noah Mayer, CFA
12 Years with H&W 19 Years of Industry Experience
Patrick Meegan, CPA
21 Years with H&W 29 Years of Industry Experience

The Advisor has contractually agreed to waive advisory fees and/or reimburse expenses through August 29, 2020 so the net expense ratio does not exceed 1.05%.  Over the past 12 months, the Fund invested in business development companies, which produced acquired fund fees and expenses (“AFFE”) of 0.01%.  The reported net expense ratio is the expense ratio cap plus AFFE, or 1.06%.  Net expense ratios were applicable to investors.

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

You should consider the Hotchkis & Wiley Capital Income 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. 

Mutual fund investing involves risk. Principal loss is possible.  Investments in debt securities involve credit risk and typically decrease in value when interest rates rise.  Investments in lower rated and nonrated securities involve greater risk.  The Fund may invest in derivatives, asset backed and mortgage backed securities, and foreign securities. Please read the fund prospectus for a full list of fund risks. 

©2020 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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

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