Mutual Funds

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

Select Share Class
Fund Ticker
HWIIX
Fund Category
Allocation--50% to 70% Equity
As of 03/31/2020
Equity Portfolio CharacteristicsPortfolioS&P 500
Price/Normal Earnings4.1x15.6x
Forward Price/Earnings (fiscal year)7.2x14.3x
Price/Book0.7x2.8x
Dividend Yield4.7%2.3%
Weighted Avg Market Cap ($M)$89,942$282,111
Number of Holdings67506
As of 03/31/2020
BOND PORTFOLIO CHARACTERISTICSPortfolioICE BofAML Corp/Govt/Mtg
Current Yield8.0%2.9%
Yield-to-Worst11.8%1.7%
Modified Duration3.8 years6.3 years
Spread over Treasuries1120 bps111 bps
Average Coupon Rate6.2%3.2%
Number of Active Issuers1301,687

BOND CREDIT QUALITY (%)

As of 03/31/2020
BOND CREDIT QUALITY (%)Portfolio 
Investment Grade5.8
BB34.4
B38.3
CCC+ or Lower7.3
Non-Rated12.0
Cash & Equivalents2.2
As of 03/31/2020
TOP FIVE EQUITY HOLDINGS (%)1Portfolio
General Electric Co.2.8
Motors Liquid. Co. GUC Tr2.5
Wells Fargo & Co.2.5
Microsoft Corp.2.2
American Int’l Group Inc.2.0

ASSET ALLOCATION (%)1

As of 03/31/2020
ASSET ALLOCATION (%)1 
Common Stock51.8
Bonds41.2
Preferred/Convertibles/Other7.0

1 % of total portfolio includes total investments, cash and cash equivalents, and accrued investment income on a trade date basis.

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.

Credit Quality weights by rating are derived from the highest bond rating as determined by S&P, Moody’s or Fitch. Bond ratings are grades given to bonds that indicate their credit quality as determined by private independent rating services such as Standard & Poor’s, Moody’s and Fitch. These firms evaluate a bond issuer’s financial strength, or its ability to pay a bond’s principal and interest in a timely fashion. Ratings are expressed as letters ranging from ‘AAA’, which is the highest grade, to ‘D’, which is the lowest grade. In limited situations when none of the three rating agencies have issued a formal rating, the Advisor will classify the security as nonrated.

Information on the Fund’s holdings and portfolio characteristics is subject to its portfolio holdings disclosure policy. Such information may be obtained through the Funds’ website or by calling 800-796-5606. Fund holdings and/or sector allocations are subject to change and are not buy/sell recommendations. Information presented based on proprietary or third-party estimates are subject to change and cannot be guaranteed.

The ICE BofAML index data referenced is the property of ICE Data Indices, LLC (“ICE BofAML”) and/or its licensors and has been licensed for use by Hotchkis & Wiley. ICE BofAML and its licensors accept no liability in connection with its use. See Index definitions for full disclaimer.

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

Index definitions