High Yield Fund (HWHIX)

I SHARES    A SHARES    C SHARES    Z SHARES   

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. The High Yield Fund imposes a 2.00% redemption fee on shares held for 90 days or less. Performance data does not reflect the redemption fee. If it had, return would be reduced.

LONG TERM     HISTORICAL
Performance (%) Average Annual Total Returns for periods greater than one year
As of latest:    MONTH-END     QUARTER-END    (02/28/2019)
  1 MONTH 3 MONTH YTD 1 YEAR 3 YEAR 5 YEAR 10 YEAR SINCE
03/31/2009
HWHIX 1.41 2.70 5.32 1.77 9.44 3.85 -- 9.98
ICE BofAML BB-B US High Yield Constrained Index 1.65 4.14 6.15 4.57 8.63 4.55 -- 10.05
HWHIX
ICE BofAML BB-B US High Yield Constrained Index
12%
10%
8%
6%
4%
2%
0%
GROWTH OF $10,000 SINCE FUND INCEPTION AS OF 02/28/2019
Initial Investment $
 Investment Date
   
  HWHIX
  ICE BofAML BB-B US High Yield Constrained Index
EXPENSES
ANNUAL EXPENSES
As of 06/30/2018
Net Expense Ratio 0.70%
Gross Expense Ratio 0.74%
Management Fee 0.55%
12b-1 Fee None
Redemption Fee* 2.00%
MINIMUM INVESTMENT
Minimum Investment $250,000
Minimum Subsequent Investment $100
Minimum Investment IRA --
Minimum Subsequent Investment IRA --
Fiscal Year End June 30
Open To New Investors Yes
*The High Yield Fund imposes a 2.00% redemption fee on shares held for 90 days or less. Performance data does not reflect the redemption fee. If it had, return would be reduced.

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

The Growth of $10,000 Since Fund Inception chart reflects a hypothetical $10,000 investment in the class of shares noted with no sales charges applied. Assumes reinvestment of dividends and capital gains. Performance for other share classes will vary.

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 August 29, 2019.

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.

 

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