High Yield Fund

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. 

You should consider the Hotchkis & Wiley High Yield 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. 

C Shares inception is 12/31/2012. Returns shown for C Shares for the periods prior to its inception are derived from the historical performance of I Shares of the Fund during such periods and have been adjusted to reflect the higher total annual operating expenses of the C Shares. Returns shown without sales charge do not reflect the Contingent Deferred Sales Charge (CDSC) of 1.00% for the first year; if reflected, performance would be lower than shown. Returns shown reflect the deduction of the 1.00% CDSC. C Shares convert automatically to A Shares approximately eight years after purchase. A Shares are subject to lower annual expenses than C Shares.

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 non rated 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.

©2024 Morningstar, Inc. All Rights Reserved. The information contained herein (1) is proprietary to Morningstar (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 performance.

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 waive advisory fees and/or reimburse expenses through August 31, 2023.

The ICE BofA index data referenced is the property of ICE Data Indices, LLC (“ICE BofA”) and/or its licensors and has been licensed for use by Hotchkis & Wiley. ICE BofA 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