TICKER
SYMBOLS
by
Share Class | ||||||||||
FUND | A | C | I | R6 | I-2 | |||||
Aristotle
Portfolio Optimization Conservative Fund |
POAAX | POACX | N/A | N/A | PLCDX | |||||
Aristotle
Portfolio Optimization Moderate Conservative Fund |
POBAX | POBCX | N/A | N/A | PMCDX | |||||
Aristotle
Portfolio Optimization Moderate Fund |
POCAX | POMCX | N/A | N/A | POMDX | |||||
Aristotle
Portfolio Optimization Growth Fund |
PODAX | PODCX | N/A | N/A | PMADX | |||||
Aristotle
Portfolio Optimization Aggressive Growth Fund |
POEAX | POCEX | N/A | N/A | POEDX | |||||
Aristotle
Ultra Short Income Fund |
PLUAX | N/A | PLUIX | N/A | PLUDX | |||||
Aristotle
Short Duration Income Fund |
PLADX | PLCSX | PLSDX | N/A | PLDSX | |||||
Aristotle
Core Income Fund |
PLIAX | PLNCX | PLIIX | N/A | PLIDX | |||||
Aristotle
ESG Core Bond Fund |
N/A | N/A | PLEBX | N/A | PLEDX | |||||
Aristotle
Strategic Income Fund |
PLSTX | PLCNX | PLSRX | N/A | PLSFX | |||||
Aristotle
Floating Rate Income Fund |
PLFLX | PLBCX | PLFRX | N/A | PLFDX | |||||
Aristotle
High Yield Bond Fund |
PLAHX | PLCHX | PLHIX | N/A | PLHYX | |||||
Aristotle
Small/Mid Cap Equity Fund |
ARAHX | AISHX | ARIHX | N/A | AIHHX | |||||
Aristotle
Small Cap Equity Fund II |
ARABX | AISBX | ARIBX | ARRBX | AIBBX |
FUND
SUMMARIES |
4 | |||
4 | ||||
10 | ||||
16 | ||||
22 | ||||
28 | ||||
34 | ||||
37 | ||||
42 | ||||
46 | ||||
51 | ||||
55 | ||||
60 | ||||
64 | ||||
67 | ||||
70 | ||||
70 | ||||
71 | ||||
72 | ||||
74 | ||||
75 | ||||
76 | ||||
76 | ||||
78 | ||||
79 | ||||
80 | ||||
81 | ||||
81 | ||||
82 | ||||
90 | ||||
94 | ||||
94 | ||||
95 | ||||
97 | ||||
97 | ||||
98 | ||||
98 | ||||
99 | ||||
99 | ||||
102 | ||||
102 | ||||
103 | ||||
104 | ||||
109 | ||||
110 | ||||
110 | ||||
111 | ||||
112 | ||||
112 |
113 | ||||
114 | ||||
114 | ||||
115 | ||||
116 | ||||
116 | ||||
122 | ||||
HISTORICAL
PERFORMANCE OF CERTAIN FUNDS’ SUBADVISERS |
129 | |||
131 |
Where To Go for More Information | back cover of this Prospectus | |
Appendix | back of this Prospectus |
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
Management
Fee1 |
% | % | % | |||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||
Acquired
Fund Fees and Expenses2 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses |
% | % | % | |||||||||
Less
Fee Waiver3 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % |
1 | The
Management Fee consists of an Advisory Fee and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.20% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.25% of the average net assets of the
class. |
2 |
3 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ | |||||||||
|
||||||||||||
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ |
Debt | Equity | |||
70-85% |
15‑30 | % |
• | Asset Allocation Fund of Funds Risk: Although the theory behind asset allocation is that diversification among asset classes can help reduce volatility over the long term, you still may lose money and/or experience price volatility. Performance of and assumptions about asset classes and Underlying Funds may also diverge from historical performance and assumptions used to develop the allocations in light of actual market conditions. There is a risk that you could achieve better returns by investing in an individual fund or funds representing a single asset class rather than investing in a fund of funds. Another risk of asset allocation is that the Fund’s actual asset class allocations may deviate from the intended allocation because an Underlying Fund’s investments can change due to market movements, the Underlying Fund Manager’s investment decisions or other factors, which could result in the Fund’s risk/return target not being met. Fund shareholders also bear indirectly their proportionate share of the expenses of the Underlying Funds in which the Fund invests. As a fund of funds, the Fund is exposed proportionally to the same risks as the Underlying Funds in which it invests. |
• | Conflicts of Interest Risk: The investment adviser and sub-adviser are subject to competing interests that have the potential to influence investment decisions for the Fund. For example, an Underlying Fund managed by an affiliate of the sub-adviser or the investment adviser may create an incentive for the sub-adviser to use that fund as an Underlying Fund. In addition, the sub-adviser may be influenced by its or the investment adviser’s view of the best interests of Underlying Funds, such as a view that an Underlying Fund may benefit from additional assets or could be harmed by redemptions. The sub-adviser seeks to identify and address any potential conflicts in a manner that is fair for Underlying Funds, the Fund and the shareholders of the Fund and Underlying Fund. The sub-adviser has adopted a policy under which investment decisions for the Fund must be made in the best interests of the Fund and its shareholders, and the sub-adviser may not take into account the interests of an Underlying Fund and its shareholders when making investment decisions for the Fund. |
• | ETF Risk: Shares of ETFs typically trade on securities exchanges and may at times trade at a premium or discount to their net asset values. If the Fund has to sell shares of an ETF when the shares are trading at a discount, the Fund will receive a price that is less than the ETF’s net asset value per share. In addition, an ETF may not replicate exactly the performance of the benchmark index it seeks to track. An investment in an ETF is an investment in another investment company and therefore, the Fund’s shareholders will indirectly bear a proportionate share of any fees and expenses of the ETFs in which the Fund invests. The Fund will pay brokerage commissions in connection with the purchase and sale of shares of ETFs. |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• | Equity Securities Risk: Equity securities tend to go up and down in value, sometimes rapidly and unpredictably. An equity security’s market value may decline for a number of reasons that relate to particular issuer, such as management performance, financial leverage, reduced demand for the issuer’s products or services, or as a result of factors that affect the issuer’s industry or market more broadly, such as labor shortages, increased production costs, or competitive conditions within an industry. |
• | Credit Risk: An issuer or guarantor of a debt instrument might be unable or unwilling to meet its financial obligations and might not make interest or principal payments on an instrument when those payments are due (“default”). The risk of a default is higher for debt instruments that are non-investment grade and lower for debt instruments that are of higher quality. Defaults may potentially reduce an Underlying Fund’s income or ability to recover amounts due and may reduce the value of the debt instrument, sometimes dramatically. |
• | Interest Rate Risk: The value of debt instruments may fall when interest rates rise. Debt instruments with longer durations tend to be more sensitive to changes in interest rates, making them more volatile than debt instruments with shorter durations or floating or adjustable interest rates. During periods when interest rates are low or there are negative interest rates, an Underlying Fund’s yield (and total return) also may be low, and an Underlying Fund may experience low or negative returns. An Underlying Fund may be subject to heightened levels of interest rate risk because the Federal Reserve has raised, and may continue to raise, interest rates. As interest rates rise, the value of fixed income investments will generally decrease. |
• | Foreign Markets Risk: Exposure to a foreign market through investments in foreign issuers (companies or other entities) can involve additional risks relating to market, economic, political, regulatory, geopolitical, or other conditions of that market. These factors can make investments in foreign issuers more volatile and less liquid than U.S. investments. Less stringent regulatory, accounting, and disclosure requirements and general supervision for issuers and markets are more common in certain foreign countries. Enforcing legal rights can be difficult, costly, and slow in certain foreign countries, and can be particularly difficult against foreign governments. In addition, foreign markets can react differently to these conditions than the U.S. market. Markets and economies throughout the world are becoming increasingly interconnected, and conditions or events in one market, country or region may adversely impact investments or issuers in, or foreign exchange rates with, another market, country, or region. |
• | Mortgage-Related and Other Asset-Backed Securities Risk: Mortgage-related and other asset-backed securities are subject to certain risks affecting the housing market or the market for the assets underlying such securities. These securities are also subject to extension risk (the risk that rising interest rates extend the duration of fixed mortgage-related and other asset-backed securities, making them more sensitive to changes in interest rates), interest rate risk (the risk that rising interest rates will cause a decline in the value of a fixed income security), subprime risk (the risk that these securities have exposure to borrowers with lower credit rating/scores, increasing potential default), prepayment risk (when interest rates decline, borrowers may pay off their mortgages sooner than expected which can reduce an Underlying Fund’s returns because an Underlying Fund may have to reinvest its assets at lower interest rates), call risk (similar to prepayment risk, an issuer may pay its obligations under a security sooner than expected), U.S. government securities risk (securities backed by different U.S. government agencies are subject to varying levels of credit rating risk), issuer risk (the risk that a private issuer cannot meet its obligations) and stripped mortgage-related securities risk (these securities are particularly sensitive to changes in interest rates). |
• | U.S. Government Securities Risk: Not all U.S. government securities are backed or guaranteed by the U.S. government and different U.S. government securities are subject to varying degrees of credit risk. There is a risk that the U.S. government will not make timely payments on its debt or provide financial support to U.S. government agencies, instrumentalities, or sponsored enterprises if those entities are not able to meet their financial obligations. |
• | Leverage Risk: An Underlying Fund may invest in forward commitments, futures contracts, options, or swap agreements, including taking short positions using certain derivatives, as a principal investment strategy. These derivative investments give rise to a form of leverage. Leverage is investment exposure that exceeds the initial amount invested. The loss on a leveraged investment may far exceed an Underlying Fund’s principal amount invested. Leverage can magnify an Underlying Fund’s gains and losses and therefore increase its volatility. |
• | Liquidity Risk: Certain holdings may be difficult to purchase, sell and value, particularly during adverse market conditions, because there is a limited market for the investment or there are restrictions on resale. An Underlying Fund may not be able to sell a holding quickly at the price it has valued the holding, may be unable to take advantage of market opportunities, or may be forced to sell other more desirable, more liquid securities or sell less liquid or illiquid securities at a loss if needed to raise cash to conduct operations, including to meet redemption requests. This risk may be particularly pronounced with respect to small-capitalization companies. |
• | Currency Risk: A decline in the value of a foreign currency relative to the U.S. dollar reduces the value in U.S. dollars of an Underlying Fund’s investments denominated in or with exposure to that foreign currency. |
• | High Yield/High Risk or “Junk” Securities Risk: High yield/high risk securities are typically issued by companies that are highly leveraged, less creditworthy, or financially distressed and are considered to be mostly speculative in nature (high risk), subject to greater liquidity risk, and subject to a greater risk of default than higher rated securities. High yield/high risk securities (including loans) may be more volatile than investment grade securities. |
• | Convertible Securities Risk: Convertible securities are generally subject to the risks of stocks when the underlying stock price is high relative to the conversion price (because the conversion feature is more valuable) and to the risks of debt securities when the underlying stock price is low relative to the conversion price (because the conversion feature is less valuable). Convertible securities are also generally subject to credit |
risk, as they tend to be of lower credit
quality, and interest rate risk,
though they generally are not as sensitive to interest rate changes
as conventional debt securities. A convertible security’s value also tends
to increase and decrease with the underlying stock and typically has less
potential for gain or loss than the underlying
stock. |
• | Emerging Markets Risk: Investments in or exposure to investments in emerging market countries may be riskier than investments in or exposure to investments in U.S. and other developed markets for many reasons, including smaller market capitalizations, greater price volatility, less liquidity, lower credit quality, a higher degree of political and economic instability, the impact of economic sanctions, less governmental regulation and supervision of the financial industry and markets, and less stringent financial reporting and accounting standards and controls. |
• | Financial Sector Risk: The operations and businesses of financial services companies are subject to extensive governmental regulation, the availability and cost of capital funds, and interest rate changes. General market downturns may affect financial services companies adversely. |
• | Geographic Focus Risk: If an Underlying Fund invests a significant portion of its assets in a single country, limited number of countries, or particular geographic region, then the risk increases that economic, political, social, or other conditions in those countries or that region will have a significant impact on the Underlying Fund’s performance. As a result, the Underlying Fund’s performance may be more volatile than the performance of more geographically diversified funds. |
• | Large-Capitalization Companies Risk: Although large-capitalization companies tend to have more stable prices than smaller, less established companies, they are still subject to equity securities risk. In addition, large-capitalization equity security prices may not rise as much as prices of equity securities of small-capitalization companies. |
• | Value Companies Risk: Value companies are those that a portfolio manager believes are undervalued and trading for less than their intrinsic values. There is a risk that the determination that a stock is undervalued is not correct or is not recognized in the market. |
• | Growth Companies Risk: Growth companies are those that a portfolio manager believes have the potential for above average or rapid growth but may be subject to greater price volatility than investments in “undervalued” companies. |
• | Inflation-Indexed Debt Securities Risk: The principal values of inflation-indexed debt securities tend to increase when inflation rises and decrease when inflation falls. |
• | Mid-Capitalization Companies Risk: Mid-capitalization companies may be subject to greater price volatility and may be more vulnerable to economic, market, and industry changes than larger, more established companies. |
• | Floating Rate Loan Risk: Floating rate loans (or bank loans) are usually rated below investment grade and thus are subject to high yield/high risk or “junk” securities risk. The market for floating rate loans is a private interbank resale market and thus may be subject to irregular trading activity, wide bid/ask spreads, and delayed settlement periods. Purchases and sales of loans are generally subject to contractual restrictions that must be fulfilled before a loan can be bought or sold. These restrictions may hamper an Underlying Fund’s ability to buy or sell loans and negatively affect the transaction price. A significant portion of the floating rate loans held by an Underlying Fund may be “covenant lite” loans that contain fewer or less restrictive constraints on the borrower or other borrower-friendly characteristics and offer less protections for investors than covenant loans. It may take longer than seven days for transactions in loans to settle. This may result in cash proceeds not being immediately available to an Underlying Fund, requiring an Underlying Fund to borrow cash which would increase an Underlying Fund’s expenses. An Underlying Fund is also subject to credit risk with respect to the issuer of the loan. Investments in junior loans involve a higher degree of overall risk. |
U.S. federal securities laws afford certain protections against fraud and misrepresentation in connection with the offering or sale of a security, as well as against manipulation of trading markets for securities. However, it is unclear whether these protections are available to an investment in a loan. |
• | Active Management Risk: A portfolio manager’s judgments about the potential value or price appreciation of an investment may prove to be incorrect or fail to have the intended results, which could negatively impact an Underlying Fund’s performance. |
• | LIBOR Transition Risk: Certain investments in which an Underlying Fund invests rely in some manner on the London Interbank Offered Rate (“LIBOR”). LIBOR is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market as determined by ICE Benchmark Administration (“IBA”), the administrator of LIBOR. Previously, the Financial Conduct Authority (“FCA”), which regulates financial markets and financial services firms in the United Kingdom, announced that it will no longer compel the banks to continue to submit the daily rates for the calculation of LIBOR after 2021 and warned that LIBOR may cease to be available or appropriate for use beyond 2021. Additionally, the FCA have announced that a majority of U.S. dollar (“USD”) LIBOR settings will cease to be published by the IBA or any other administrator or will no longer be representative after June 30, 2023. |
While various regulators and industry groups are working globally on transitioning to selected alternative rates and although the transition process away from LIBOR has become increasingly well-defined in advance of the discontinuation dates, there remains uncertainty regarding the transition to, and nature of, any selected replacement rates, as well as the impact on investments that currently utilize LIBOR. There is no assurance that the composition or characteristics of any such alternative reference rate |
will be similar to or produce the same value or economic equivalence as LIBOR or that it will have the same volume or liquidity as did LIBOR prior to its discontinuance or unavailability, which may affect the value or liquidity or return on certain of an Underlying Fund’s investments and result in costs incurred in connection with closing out positions that reference LIBOR and entering into new trades referencing alternative rates. The transition process away from LIBOR may result in increased volatility or illiquidity in markets for an Underlying Fund’s investments that currently rely on LIBOR as well as a reduction in the value of these investments. The potential risk of reduction in value of these investments may be heightened for those investments that do not include fallback provisions that address the cessation of LIBOR. |
• | Underlying Fund Risk: Because an Underlying Fund is available for investment by one or more “fund of funds” of the Trust and thus may have a significant percentage of its outstanding shares held by such fund of funds, a change in asset allocation by the fund of funds could result in large redemptions out of the Underlying Fund, causing the sale of securities in a short timeframe and potential increases in expenses to the Underlying Fund and its remaining shareholders, both of which could negatively impact performance. |
|
1 year | 5 years | 10 years | |||||||||
Class
A (incepted |
( |
%) | ( |
%) | % | |||||||
Class
A (after taxes on
distributions) |
( |
%) | ( |
%) | % | |||||||
Class
A (after taxes on distributions and sale
of Fund shares) |
( |
%) | ( |
%) | % | |||||||
Class
C (incepted |
( |
%) | % | % | ||||||||
Class
I-2 (incepted |
( |
%) | % | % | ||||||||
Bloomberg
US Aggregate Bond Index (reflects no
deductions for fees, expenses, or taxes) |
( |
%) | % | % | ||||||||
S&P
500 Index (reflects no deductions for
fees, expenses, or taxes) |
( |
%) | % | % | ||||||||
Aristotle
Portfolio Optimization Conservative Composite Benchmark1 (reflects no deductions for fees, expenses, or
taxes) |
( |
%) | % | % |
1 | The
Aristotle Portfolio Optimization Conservative Composite Benchmark
represents the blended performance of 71% Bloomberg US Aggregate Bond, 17%
S&P 500, 7% ICE BofA U.S. 3-Month T-Bill, and 5% MSCI EAFE
Indices. |
Portfolio
Manager and Primary Title with Sub-Adviser |
Experience
with Fund | |
Howard T. Hirakawa, CFA, Senior Vice President and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2003) | |
Carleton J. Muench, CFA, Vice President and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2006) | |
Samuel S. Park, Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2013) | |
Edward Sheng, PhD, CFA, CAIA, Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2021) |
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
Management
Fee1 |
% | % | % | |||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||
Acquired
Fund Fees and Expenses2 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses |
% | % | % | |||||||||
Less
Fee Waiver3 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % |
1 | The
Management Fee consists of an Advisory Fee and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.20% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.25% of the average net assets of the
class. |
2 |
3 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ | |||||||||
period. |
||||||||||||
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ |
Debt | Equity | |||
50-70% |
30‑50 | % |
• | Asset Allocation Fund of Funds Risk: Although the theory behind asset allocation is that diversification among asset classes can help reduce volatility over the long term, you still may lose money and/or experience price volatility. Performance of and assumptions about asset classes and Underlying Funds may also diverge from historical performance and assumptions used to develop the allocations in light of actual market conditions. There is a risk that you could achieve better returns by investing in an individual fund or funds representing a single asset class rather than investing in a fund of funds. Another risk of asset allocation is that the Fund’s actual asset class allocations may deviate from the intended allocation because an Underlying Fund’s investments can change due to market movements, the Underlying Fund Manager’s investment decisions or other factors, which could result in the Fund’s risk/return target not being met. Fund shareholders also bear indirectly their proportionate share of the expenses of the Underlying Funds in which the Fund invests. As a fund of funds, the Fund is exposed proportionally to the same risks as the Underlying Funds in which it invests. |
• | Conflicts of Interest Risk: The investment adviser and sub-adviser are subject to competing interests that have the potential to influence investment decisions for the Fund. For example, an Underlying Fund managed by an affiliate of the sub-adviser or the investment adviser may create an incentive for the sub-adviser to use that fund as an Underlying Fund. In addition, the sub-adviser may be influenced by its or the investment adviser’s view of the best interests of Underlying Funds, such as a view that an Underlying Fund may benefit from additional assets or could be harmed by redemptions. The sub-adviser seeks to identify and address any potential conflicts in a manner that is fair for Underlying Funds, the Fund and the shareholders of the Fund and Underlying Fund. The sub-adviser has adopted a policy under which investment decisions for the Fund must be made in the best interests of the Fund and its shareholders, and the sub-adviser may not take into account the interests of an Underlying Fund and its shareholders when making investment decisions for the Fund. |
• | ETF Risk: Shares of ETFs typically trade on securities exchanges and may at times trade at a premium or discount to their net asset values. If the Fund has to sell shares of an ETF when the shares are trading at a discount, the Fund will receive a price that is less than the ETF’s net asset value per share. In addition, an ETF may not replicate exactly the performance of the benchmark index it seeks to track. An investment in an ETF is an investment in another investment company and therefore, the Fund’s shareholders will indirectly bear a proportionate share of any fees and expenses of the ETFs in which the Fund invests. The Fund will pay brokerage commissions in connection with the purchase and sale of shares of ETFs. |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• | Equity Securities Risk: Equity securities tend to go up and down in value, sometimes rapidly and unpredictably. An equity security’s market value may decline for a number of reasons that relate to particular issuer, such as management performance, financial leverage, reduced demand for the issuer’s products or services, or as a result of factors that affect the issuer’s industry or market more broadly, such as labor shortages, increased production costs, or competitive conditions within an industry. |
• | Credit Risk: An issuer or guarantor of a debt instrument might be unable or unwilling to meet its financial obligations and might not make interest or principal payments on an instrument when those payments are due (“default”). The risk of a default is higher for debt instruments that are non-investment grade and lower for debt instruments that are of higher quality. Defaults may potentially reduce an Underlying Fund’s income or ability to recover amounts due and may reduce the value of the debt instrument, sometimes dramatically. |
• | Interest Rate Risk: The value of debt instruments may fall when interest rates rise. Debt instruments with longer durations tend to be more sensitive to changes in interest rates, making them more volatile than debt instruments with shorter durations or floating or adjustable interest rates. During periods when interest rates are low or there are negative interest rates, an Underlying Fund’s yield (and total return) also may be low and an Underlying Fund may experience low or negative returns. An Underlying Fund may be subject to heightened levels of interest rate risk because the Federal Reserve has raised, and may continue to raise, interest rates. As interest rates rise, the value of fixed income investments will generally decrease. |
• | Foreign Markets Risk: Exposure to a foreign market through investments in foreign issuers (companies or other entities) can involve additional risks relating to market, economic, political, regulatory, geopolitical, or other conditions of that market. These factors can make investments in foreign issuers more volatile and less liquid than U.S. investments. Less stringent regulatory, accounting, and disclosure requirements and general supervision for issuers and markets are more common in certain foreign countries. Enforcing legal rights can be difficult, costly, and slow in certain foreign countries, and can be particularly difficult against foreign governments. In addition, foreign markets can react differently to these conditions than the U.S. market. Markets and economies throughout the world are becoming increasingly interconnected, and conditions or events in one market, country or region may adversely impact investments or issuers in, or foreign exchange rates with, another market, country or region. |
• | Mortgage-Related and Other Asset-Backed Securities Risk: Mortgage-related and other asset-backed securities are subject to certain risks affecting the housing market or the market for the assets underlying such securities. These securities are also subject to extension risk (the risk that rising interest rates extend the duration of fixed mortgage-related and other asset-backed securities, making them more sensitive to changes in interest rates), interest rate risk (the risk that rising interest rates will cause a decline in the value of a fixed income security), subprime risk (the risk that these securities have exposure to borrowers with lower credit ratings/scores, increasing potential default), prepayment risk (when interest rates decline, borrowers may pay off their mortgages sooner than expected which can reduce an Underlying Fund’s returns because an Underlying Fund may have to reinvest its assets at lower interest rates), call risk (similar to prepayment risk, an issuer may pay its obligations under a security sooner than expected), U.S. government securities risk (securities backed by different U.S. government agencies are subject to varying levels of credit rating risk), issuer risk (the risk that a private issuer cannot meet its obligations) and stripped mortgage-related securities risk (these securities are particularly sensitive to changes in interest rates). |
• | U.S. Government Securities Risk: Not all U.S. government securities are backed or guaranteed by the U.S. government and different U.S. government securities are subject to varying degrees of credit risk. There is a risk that the U.S. government will not make timely payments on its debt or provide financial support to U.S. government agencies, instrumentalities, or sponsored enterprises if those entities are not able to meet their financial obligations. |
• | Currency Risk: A decline in the value of a foreign currency relative to the U.S. dollar reduces the value in U.S. dollars of an Underlying Fund’s investments denominated in or with exposure to that foreign currency. |
• | Leverage Risk: An Underlying Fund may invest in forward commitments, futures contracts, options, or swap agreements, including taking short positions using certain derivatives, as a principal investment strategy. These derivative investments give rise to a form of leverage. Leverage is investment exposure that exceeds the initial amount invested. The loss on a leveraged investment may far exceed an Underlying Fund’s principal amount invested. Leverage can magnify an Underlying Fund’s gains and losses and therefore increase its volatility. |
• | Liquidity Risk: Certain holdings may be difficult to purchase, sell and value, particularly during adverse market conditions, because there is a limited market for the investment or there are restrictions on resale. An Underlying Fund may not be able to sell a holding quickly at the price it has valued the holding, may be unable to take advantage of market opportunities or may be forced to sell other more desirable, more liquid securities or sell less liquid or illiquid securities at a loss if needed to raise cash to conduct operations, including to meet redemption requests. This risk may be particularly pronounced with respect to small-capitalization companies. |
• | Large-Capitalization Companies Risk: Although large-capitalization companies tend to have more stable prices than smaller, less established companies, they are still subject to equity securities risk. In addition, large-capitalization equity security prices may not rise as much as prices of equity securities of small-capitalization companies. |
• | Value Companies Risk: Value companies are those that a portfolio manager believes are undervalued and trading for less than their intrinsic values. There is a risk that the determination that a stock is undervalued is not correct or is not recognized in the market. |
• | Growth Companies Risk: Growth companies are those that a portfolio manager believes have the potential for above average or rapid growth but may be subject to greater price volatility than investments in “undervalued” companies. |
• | Mid-Capitalization Companies Risk: Mid-capitalization companies may be subject to greater price volatility and may be more vulnerable to economic, market and industry changes than larger, more established companies. |
• | Emerging Markets Risk: Investments in or exposure to investments in emerging market countries may be riskier than investments in or exposure to investments in U.S. and other developed markets for many reasons, including smaller market capitalizations, greater price volatility, less liquidity, lower credit quality, a higher degree of political and economic instability, the impact of economic sanctions, less governmental regulation and supervision of the financial industry and markets, and less stringent financial reporting and accounting standards and controls. |
• | High Yield/High Risk or “Junk” Securities Risk: High yield/high risk securities are typically issued by companies that are highly leveraged, less creditworthy, or financially distressed and are considered to be mostly speculative in nature (high risk), subject to greater liquidity risk, and subject to a greater risk of default than higher rated securities. High yield/high risk securities (including loans) may be more volatile than investment grade securities. |
• | Convertible Securities Risk: Convertible securities are generally subject to the risks of stocks when the underlying stock price is high relative to the conversion price (because the conversion feature is more valuable) and to the risks of debt securities when the underlying stock price is low relative to the conversion price (because the conversion feature is less valuable). Convertible securities are also generally subject to credit risk, as they tend to be of lower credit quality, and interest rate risk, though they generally are not as sensitive to interest rate changes as conventional debt securities. A convertible security’s value also tends to increase and decrease with the underlying stock and typically has less potential for gain or loss than the underlying stock. |
• | Geographic Focus Risk: If an Underlying Fund invests a significant portion of its assets in a single country, limited number of countries, or particular geographic region, then the risk increases that economic, political, social, or other conditions in those countries or that region will have a significant impact on the Underlying Fund’s performance. As a result, the Underlying Fund’s performance may be more volatile than the performance of more geographically diversified funds. |
• | Inflation-Indexed Debt Securities Risk: The principal values of inflation-indexed debt securities tend to increase when inflation rises and decrease when inflation falls. |
• |
Floating Rate Loan Risk: Floating rate
loans (or bank loans) are usually rated below investment grade and thus
are subject to high yield/high risk or “junk” securities risk. The market
for floating rate loans is a private interbank resale market and thus may
be subject to irregular trading activity, wide bid/ask spreads and delayed
settlement periods. Purchases and sales of
loans |
are
generally subject to contractual restrictions that must be fulfilled
before a loan can be bought or sold. These restrictions may hamper an
Underlying Fund’s ability to buy or sell loans and negatively affect the
transaction price. A significant portion of the floating rate loans held
by an Underlying Fund may be “covenant lite” loans that contain fewer or
less restrictive constraints on the borrower or other borrower-friendly
characteristics and offer less protections for investors than covenant
loans. It may take longer than seven days for transactions in loans to
settle. This may result in cash proceeds not being immediately available
to an Underlying Fund, requiring an Underlying Fund to borrow cash which
would increase an Underlying Fund’s expenses. An Underlying Fund is also
subject to credit risk with respect to the issuer of the loan. Investments
in junior loans involve a higher degree of overall
risk. |
• | Active Management Risk: A portfolio manager’s judgments about the potential value or price appreciation of an investment may prove to be incorrect or fail to have the intended results, which could negatively impact an Underlying Fund’s performance. |
• | LIBOR Transition Risk: Certain investments in which an Underlying Fund invests rely in some manner on the London Interbank Offered Rate (“LIBOR”). LIBOR is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market as determined by ICE Benchmark Administration (“IBA”), the administrator of LIBOR. Previously, the Financial Conduct Authority (“FCA”), which regulates financial markets and financial services firms in the United Kingdom, announced that it will no longer compel the banks to continue to submit the daily rates for the calculation of LIBOR after 2021 and warned that LIBOR may cease to be available or appropriate for use beyond 2021. Additionally, the FCA have announced that a majority of U.S. dollar (“USD”) LIBOR settings will cease to be published by the IBA or any other administrator or will no longer be representative after June 30, 2023. |
• | Financial Sector Risk: The operations and businesses of financial services companies are subject to extensive governmental regulation, the availability and cost of capital funds, and interest rate changes. General market downturns may affect financial services companies adversely. |
• | Underlying Fund Risk: Because an Underlying Fund is available for investment by one or more “fund of funds” of the Trust and thus may have a significant percentage of its outstanding shares held by such fund of funds, a change in asset allocation by the fund of funds could result in large redemptions out of the Underlying Fund, causing the sale of securities in a short timeframe and potential increases in expenses to the Underlying Fund and its remaining shareholders, both of which could negatively impact performance. |
|
1 year | 5 years | 10 years | |||||||||
Class
A (incepted |
( |
%) | % | % | ||||||||
Class
A (after taxes on
distributions) |
( |
%) | ( |
%) | % | |||||||
Class
A (after taxes on distributions and sale
of Fund shares) |
( |
%) | % | % | ||||||||
Class
C (incepted |
( |
%) | % | % | ||||||||
Class
I-2 (incepted |
( |
%) | % | % | ||||||||
Bloomberg
US Aggregate Bond Index (reflects no
deductions for fees, expenses, or taxes) |
( |
%) | % | % | ||||||||
S&P
500 Index (reflects no deductions for
fees, expenses, or taxes) |
( |
%) | % | % | ||||||||
Aristotle
Portfolio Optimization Moderate-Conservative Composite Benchmark1 (reflects no deductions for fees, expenses, or
taxes) |
( |
%) | % | % |
1 | Aristotle
Portfolio Optimization Moderate Conservative Composite Benchmark
represents the blended performance of 55% Bloomberg US Aggregate Bond, 30%
S&P 500, 10% MSCI EAFE, and 5% ICE BofA U.S. 3-Month T-Bill
Indices. |
Portfolio Manager and Primary Title with
Investment
Adviser |
Experience
with Fund | |
Howard T. Hirakawa, CFA, Senior Vice President and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2003) | |
Carleton J. Muench, CFA, Vice President and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2006) | |
Samuel S. Park, Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2013) | |
Edward Sheng, PhD, CFA, CAIA, Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2021) |
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
Management
Fee1 |
% | % | % | |||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||
Acquired
Fund Fees and Expenses2 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses |
% | % | % | |||||||||
Less
Fee Waiver3 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % |
1 | The
Management Fee consists of an Advisory Fee and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.20% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.25% of the average net assets of the
class. |
2 |
3 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ | |||||||||
period. |
||||||||||||
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ |
Debt | Equity | |||
30-50% |
50‑70 | % |
• | Asset Allocation Fund of Funds Risk: Although the theory behind asset allocation is that diversification among asset classes can help reduce volatility over the long term, you still may lose money and/or experience price volatility. Performance of and assumptions about asset classes and Underlying Funds may also diverge from historical performance and assumptions used to develop the allocations in light of actual market conditions. There is a risk that you could achieve better returns by investing in an individual fund or funds representing a single asset class rather than investing in a fund of funds. Another risk of asset allocation is that the Fund’s actual asset class allocations may deviate from the intended allocation because an Underlying Fund’s investments can change due to market movements, the Underlying Fund Manager’s investment decisions, or other factors, which could result in the Fund’s risk/return target not being met. Fund shareholders also bear indirectly their proportionate share of the expenses of the Underlying Funds in which the Fund invests. As a fund of funds, the Fund is exposed proportionally to the same risks as the Underlying Funds in which it invests. |
• | Conflicts of Interest Risk: The investment adviser and sub-adviser are subject to competing interests that have the potential to influence investment decisions for the Fund. For example, an Underlying Fund managed by an affiliate of the sub-adviser or the investment adviser may create an incentive for the sub-adviser to use that fund as an Underlying Fund. In addition, the sub-adviser may be influenced by its or the investment adviser’s view of the best interests of Underlying Funds, such as a view that an Underlying Fund may benefit from additional assets or could be harmed by redemptions. The sub-adviser seeks to identify and address any potential conflicts in a manner that is fair for Underlying Funds, the Fund and the shareholders of the Fund and Underlying Fund. The sub-adviser has adopted a policy under which investment decisions for the Fund must be made in the best interests of the Fund and its shareholders, and the sub-adviser may not take into account the interests of an Underlying Fund and its shareholders when making investment decisions for the Fund. |
• | ETF Risk: Shares of ETFs typically trade on securities exchanges and may at times trade at a premium or discount to their net asset values. If the Fund has to sell shares of an ETF when the shares are trading at a discount, the Fund will receive a price that is less than the ETF’s net asset value per share. In addition, an ETF may not replicate exactly the performance of the benchmark index it seeks to track. An investment in an ETF is an investment in another investment company and therefore, the Fund’s shareholders will indirectly bear a proportionate share of any fees and expenses of the ETFs in which the Fund invests. The Fund will pay brokerage commissions in connection with the purchase and sale of shares of ETFs. |
• | Equity Securities Risk: Equity securities tend to go up and down in value, sometimes rapidly and unpredictably. An equity security’s market value may decline for a number of reasons that relate to particular issuer, such as management performance, financial leverage, reduced demand for the issuer’s products or services, or as a result of factors that affect the issuer’s industry or market more broadly, such as labor shortages, increased production costs, or competitive conditions within an industry. |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• | Large-Capitalization Companies Risk: Although large-capitalization companies tend to have more stable prices than smaller, less established companies, they are still subject to equity securities risk. In addition, large-capitalization equity security prices may not rise as much as prices of equity securities of small-capitalization companies. |
• | Mortgage-Related and Other Asset-Backed Securities Risk: Mortgage-related and other asset-backed securities are subject to certain risks affecting the housing market or the market for the assets underlying such securities. These securities are also subject to extension risk (the risk that rising interest rates extend the duration of fixed mortgage-related and other asset-backed securities, making them more sensitive to changes in interest rates), interest rate risk (the risk that rising interest rates will cause a decline in the value of a fixed income security), subprime risk (the risk that these securities have exposure to borrowers with lower credit ratings/scores, increasing potential default), prepayment risk (when interest rates decline, borrowers may pay off their mortgages sooner than expected which can reduce an Underlying Fund’s returns because an Underlying Fund may have to reinvest its assets at lower interest rates), call risk (similar to prepayment risk, an issuer may pay its obligations under a security sooner than expected), U.S. government securities risk (securities backed by different U.S. government agencies are subject to varying levels of credit rating risk), issuer risk (the risk that a private issuer cannot meet its obligations) and stripped mortgage-related securities risk (these securities are particularly sensitive to changes in interest rates). |
• | U.S. Government Securities Risk: Not all U.S. government securities are backed or guaranteed by the U.S. government and different U.S. government securities are subject to varying degrees of credit risk. There is a risk that the U.S. government will not make timely payments on its debt or provide financial support to U.S. government agencies, instrumentalities, or sponsored enterprises if those entities are not able to meet their financial obligations. |
• | Leverage Risk: An Underlying Fund may invest in forward commitments, futures contracts, options, or swap agreements, including taking short positions using certain derivatives, as a principal investment strategy. These derivative investments give rise to a form of leverage. Leverage is investment exposure that exceeds the initial amount invested. The loss on a leveraged investment may far exceed an Underlying Fund’s principal amount invested. Leverage can magnify an Underlying Fund’s gains and losses and therefore increase its volatility. |
• | Foreign Markets Risk: Exposure to a foreign market through investments in foreign issuers (companies or other entities) can involve additional risks relating to market, economic, political, regulatory, geopolitical, or other conditions of that market. These factors can make investments in foreign issuers more volatile and less liquid than U.S. investments. Less stringent regulatory, |
accounting,
and disclosure requirements and general supervision for issuers and
markets are more common in certain foreign countries. Enforcing legal
rights can be difficult, costly, and slow in certain foreign countries,
and can be particularly difficult against foreign governments. In
addition, foreign markets can react differently to these conditions than
the U.S. market. Markets and economies throughout the world are becoming
increasingly interconnected, and conditions or events in one market,
country or region may adversely impact investments or issuers in, or
foreign exchange rates with, another market, country or
region. |
• | Growth Companies Risk: Growth companies are those that a portfolio manager believes have the potential for above average or rapid growth but may be subject to greater price volatility than investments in “undervalued” companies. |
• | Value Companies Risk: Value companies are those that a portfolio manager believes are undervalued and trading for less than their intrinsic values. There is a risk that the determination that a stock is undervalued is not correct or is not recognized in the market. |
• | Mid-Capitalization Companies Risk: Mid-capitalization companies may be subject to greater price volatility and may be more vulnerable to economic, market and industry changes than larger, more established companies. |
• | Currency Risk: A decline in the value of a foreign currency relative to the U.S. dollar reduces the value in U.S. dollars of an Underlying Fund’s investments denominated in or with exposure to that foreign currency. |
• | Credit Risk: An issuer or guarantor of a debt instrument might be unable or unwilling to meet its financial obligations and might not make interest or principal payments on an instrument when those payments are due (“default”). The risk of a default is higher for debt instruments that are non-investment grade and lower for debt instruments that are of higher quality. Defaults may potentially reduce an Underlying Fund’s income or ability to recover amounts due and may reduce the value of the debt instrument, sometimes dramatically. |
• | Interest Rate Risk: The value of debt instruments may fall when interest rates rise. Debt instruments with longer durations tend to be more sensitive to changes in interest rates, making them more volatile than debt instruments with shorter durations or floating or adjustable interest rates. During periods when interest rates are low or there are negative interest rates, an Underlying Fund’s yield (and total return) also may be low and an Underlying Fund may experience low or negative returns. An Underlying Fund may be subject to heightened levels of interest rate risk because the Federal Reserve has raised, and may continue to raise, interest rates. As interest rates rise, the value of fixed income investments will generally decrease. |
• | Liquidity Risk: Certain holdings may be difficult to purchase, sell and value, particularly during adverse market conditions, because there is a limited market for the investment or there are restrictions on resale. An |
Underlying Fund may not be able to sell a holding quickly at the price it has valued the holding, may be unable to take advantage of market opportunities or may be forced to sell other more desirable, more liquid securities or sell less liquid or illiquid securities at a loss if needed to raise cash to conduct operations, including to meet redemption requests. This risk may be particularly pronounced with respect to small-capitalization companies. |
• | Emerging Markets Risk: Investments in or exposure to investments in emerging market countries may be riskier than investments in or exposure to investments in U.S. and other developed markets for many reasons, including smaller market capitalizations, greater price volatility, less liquidity, lower credit quality, a higher degree of political and economic instability, the impact of economic sanctions, less governmental regulation and supervision of the financial industry and markets, and less stringent financial reporting and accounting standards and controls. |
• | High Yield/High Risk or “Junk” Securities Risk: High yield/high risk securities are typically issued by companies that are highly leveraged, less creditworthy or financially distressed and are considered to be mostly speculative in nature (high risk), subject to greater liquidity risk, and subject to a greater risk of default than higher rated securities. High yield/high risk securities may be more volatile than investment grade securities. |
• | Geographic Focus Risk: If an Underlying Fund invests a significant portion of its assets in a single country, limited number of countries, or particular geographic region, then the risk increases that economic, political, social, or other conditions in those countries or that region will have a significant impact on the Underlying Fund’s performance. As a result, the Underlying Fund’s performance may be more volatile than the performance of more geographically diversified funds. |
• | Convertible Securities Risk: Convertible securities are generally subject to the risks of stocks when the underlying stock price is high relative to the conversion price (because the conversion feature is more valuable) and to the risks of debt securities when the underlying stock price is low relative to the conversion price (because the conversion feature is less valuable). Convertible securities are also generally subject to credit risk, as they tend to be of lower credit quality, and interest rate risk, though they generally are not as sensitive to interest rate changes as conventional debt securities. A convertible security’s value also tends to increase and decrease with the underlying stock and typically has less potential for gain or loss than the underlying stock. |
• | Small-Capitalization Companies Risk: Small-capitalization companies may be more susceptible to liquidity risk and price volatility and be more vulnerable to economic, market and industry changes than larger, more established companies. |
• | Financial Sector Risk: The operations and businesses of financial services companies are subject to extensive governmental regulation, the availability and cost of capital funds, and interest rate changes. General market downturns may affect financial services companies adversely. |
• | Active Management Risk: A portfolio manager’s judgments about the potential value or price appreciation of an investment may prove to be incorrect or fail to have the intended results, which could negatively impact an Underlying Fund’s performance. |
• | Floating Rate Loan Risk: Floating rate loans (or bank loans) are usually rated below investment grade and thus are subject to high yield/high risk or “junk” securities risk. The market for floating rate loans is a private interbank resale market and thus may be subject to irregular trading activity, wide bid/ask spreads and delayed settlement periods. Purchases and sales of loans are generally subject to contractual restrictions that must be fulfilled before a loan can be bought or sold. These restrictions may hamper an Underlying Fund’s ability to buy or sell loans and negatively affect the transaction price. A significant portion of the floating rate loans held by an Underlying Fund may be “covenant lite” loans that contain fewer or less restrictive constraints on the borrower or other borrower-friendly characteristics and offer less protections for investors than covenant loans. It may take longer than seven days for transactions in loans to settle. This may result in cash proceeds not being immediately available to an Underlying Fund, requiring an Underlying Fund to borrow cash which would increase an Underlying Fund’s expenses. An Underlying Fund is also subject to credit risk with respect to the issuer of the loan. |
• | LIBOR Transition Risk: Certain investments in which an Underlying Fund invests rely in some manner on the London Interbank Offered Rate (“LIBOR”). LIBOR is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market as determined by ICE Benchmark Administration (“IBA”), the administrator of LIBOR. Previously, the Financial Conduct Authority (“FCA”), which regulates financial markets and financial services firms in the United Kingdom, announced that it will no longer compel the banks to continue to submit the daily rates for the calculation of LIBOR after 2021 and warned that LIBOR may cease to be available or appropriate for use beyond 2021. Additionally, the FCA have announced that a majority of U.S. dollar (“USD”) LIBOR settings will cease to be published by the IBA or any other administrator or will no longer be representative after June 30, 2023. |
• | Underlying Fund Risk: Because an Underlying Fund is available for investment by one or more “fund of funds” of the Trust and thus may have a significant percentage of its outstanding shares held by such fund of funds, a change in asset allocation by the fund of funds could result in large redemptions out of the Underlying Fund, causing the sale of securities in a short timeframe and potential increases in expenses to the Underlying Fund and its remaining shareholders, both of which could negatively impact performance. |
|
1 year | 5 years | 10 years | |||||||||
Class
A (incepted |
( |
%) | % | % | ||||||||
Class
A (after taxes on
distributions) |
( |
%) | ( |
%) | % | |||||||
Class
A (after taxes on distributions and sale
of Fund shares) |
( |
%) | % | % | ||||||||
Class
C (incepted |
( |
%) | % | % | ||||||||
Class
I-2 (incepted |
( |
%) | % | % | ||||||||
S&P
500 Index (reflects no deductions for
fees, expenses, or taxes) |
( |
%) | % | % | ||||||||
Bloomberg
US Aggregate Bond Index (reflects no
deductions for fees, expenses, or taxes) |
( |
%) | % | % | ||||||||
Aristotle
Portfolio Optimization Moderate Composite Benchmark1 (reflects no deductions for fees, expenses or
taxes) |
( |
%) | % | % |
1 | Aristotle
Portfolio Optimization Moderate Composite represents the blended
performance of 45% S&P 500, 38% Bloomberg US Aggregate Bond, 15% MSCI
EAFE, and 2% ICE BofA U.S. 3-Month T-Bill
Indices. |
Portfolio Manager and Primary Title with
Investment
Adviser |
Experience
with Fund | |
Howard
T. Hirakawa, CFA, Senior Vice President and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2003) | |
Carleton
J. Muench, CFA, Vice President and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2006) | |
Samuel
S. Park, Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2013) | |
Edward
Sheng, PhD, CFA, CAIA, Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2021) |
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
Management
Fee1 |
% | % | % | |||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||
Acquired
Fund Fees and Expenses2 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses |
% | % | % | |||||||||
Less
Fee Waiver3 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % |
1 | The
Management Fee consists of an Advisory Fee and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.20% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.25% of the average net assets of the
class. |
2 |
3 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ | |||||||||
period. |
||||||||||||
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ |
BROAD
ASSET CLASS ALLOCATIONS
|
Debt | Equity | |||
15-30% |
70‑85 | % |
• | Asset Allocation Fund of Funds Risk: Although the theory behind asset allocation is that diversification among asset classes can help reduce volatility over the long term, you still may lose money and/or experience price volatility. Performance of and assumptions about asset classes and Underlying Funds may also diverge from historical performance and assumptions used to develop the allocations in light of actual market conditions. There is a risk that you could achieve better returns by investing in an individual fund or funds representing a single asset class rather than investing in a fund of funds. Another risk of asset allocation is that the Fund’s actual asset class allocations may deviate from the intended allocation because an Underlying Fund’s investments can change due to market movements, the Underlying Fund Manager’s investment decisions or other factors, which could result in the Fund’s risk/return target not being met. Fund shareholders also bear indirectly their proportionate share of the expenses of the Underlying Funds in which the Fund invests. As a fund of funds, the Fund is exposed proportionally to the same risks as the Underlying Funds in which it invests. |
• | Conflicts of Interest Risk: The investment adviser and sub-adviser are subject to competing interests that have the potential to influence investment decisions for the Fund. For example, an Underlying Fund managed by an affiliate of the sub-adviser or the investment adviser may create an incentive for the sub-adviser to use that fund as an Underlying Fund. In addition, the sub-adviser may be influenced by its or the investment adviser’s view of the best interests of Underlying Funds, such as a view that an Underlying Fund may benefit from additional assets or could be harmed by redemptions. The sub-adviser seeks to identify and address any potential conflicts in a manner that is fair for Underlying Funds, the Fund and the shareholders of the Fund and Underlying Fund. The sub-adviser has adopted a policy under which investment decisions for the Fund must be made in the best interests of the Fund and its shareholders, and the sub-adviser may not take into account the interests of an Underlying Fund and its shareholders when making investment decisions for the Fund. |
• | ETF Risk: Shares of ETFs typically trade on securities exchanges and may at times trade at a premium or discount to their net asset values. If the Fund has to sell shares of an ETF when the shares are trading at a discount, the Fund will receive a price that is less than the ETF’s net asset value per share. In addition, an ETF may not replicate exactly the performance of the benchmark index it seeks to track. An investment in an ETF is an investment in another investment company and therefore, the Fund’s shareholders will indirectly bear a proportionate share of any fees and expenses of the ETFs in which the Fund invests. The Fund will pay brokerage commissions in connection with the purchase and sale of shares of ETFs. |
• | Equity Securities Risk: Equity securities tend to go up and down in value, sometimes rapidly and unpredictably. An equity security’s market value may decline for a number of reasons that relate to a particular issuer, such as management performance, financial leverage, reduced demand for the issuer’s products or services, or as a result of factors that affect the issuer’s industry or market more broadly, such as labor shortages, increased production costs, or competitive conditions within an industry. |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• | Large-Capitalization Companies Risk: Although large-capitalization companies tend to have more stable prices than smaller, less established companies, they are still subject to equity securities risk. In addition, large-capitalization equity security prices may not rise as much as prices of equity securities of small-capitalization companies. |
• | Growth Companies Risk: Growth companies are those that a portfolio manager believes have the potential for above average or rapid growth but may be subject to greater price volatility than investments in “undervalued” companies. |
• | Value Companies Risk: Value companies are those that a portfolio manager believes are undervalued and trading for less than their intrinsic values. There is a risk that the determination that a stock is undervalued is not correct or is not recognized in the market. |
• | Mid-Capitalization Companies Risk: Mid-capitalization companies may be subject to greater price volatility and may be more vulnerable to economic, market and industry changes than larger, more established companies. |
• | Small-Capitalization Companies Risk: Small-capitalization companies may be more susceptible to liquidity risk and price volatility and be more vulnerable to economic, market and industry changes than larger, more established companies. |
• | Credit Risk: An issuer or guarantor of a debt instrument might be unable or unwilling to meet its financial obligations and might not make interest or principal payments on an instrument when those payments are due (“default”). The risk of a default is higher for debt instruments that are non-investment grade and lower for debt instruments that are of higher quality. Defaults may potentially reduce an Underlying Fund’s income or ability to recover amounts due and may reduce the value of the debt instrument, sometimes dramatically. |
• | Interest Rate Risk: The value of debt instruments may fall when interest rates rise. Debt instruments with longer durations tend to be more sensitive to changes in interest rates, making them more volatile than debt instruments with shorter durations or floating or adjustable interest rates. During periods when interest rates are low or there are negative interest rates, an Underlying Fund’s yield (and total return) also may be low and an Underlying Fund may experience low or negative returns. An Underlying Fund may be subject to heightened levels of interest rate risk because the Federal Reserve has raised, and may continue to raise, interest rates. As interest rates rise, the value of fixed income investments will generally decrease. |
• | Mortgage-Related and Other Asset-Backed Securities Risk: Mortgage-related and other asset-backed securities are subject to certain risks affecting the housing market or the market for the assets underlying such securities. These securities are also subject to extension risk (the risk that rising interest rates extend the duration of fixed mortgage-related and other asset-backed securities, making them more sensitive to changes in interest rates), interest rate risk (the risk that rising interest rates will cause a decline in the value of a fixed income security), subprime risk (the risk that these securities have exposure to borrowers with lower credit ratings/scores, increasing potential default), prepayment risk (when interest rates decline, borrowers may pay off their mortgages sooner than expected which can reduce an Underlying Fund’s returns because an Underlying Fund may have to reinvest its assets at lower interest rates), call risk (similar to prepayment risk, an issuer may pay its obligations under a security sooner than expected), U.S. government securities risk (securities backed by different U.S. government agencies are subject to varying levels of credit rating risk), issuer risk (the risk that a private issuer cannot meet its obligations) and stripped mortgage-related securities risk (these securities are particularly sensitive to changes in interest rates). |
• | Currency Risk: A decline in the value of a foreign currency relative to the U.S. dollar reduces the value in U.S. dollars of an Underlying Fund’s investments denominated in or with exposure to that foreign currency. |
• | U.S. Government Securities Risk: Not all U.S. government securities are backed or guaranteed by the U.S. government and different U.S. government securities are subject to varying degrees of credit risk. There is a risk that the U.S. government will not make timely payments on its debt or provide financial support to U.S. government agencies, instrumentalities, or sponsored enterprises if those entities are not able to meet their financial obligations. |
• | Leverage Risk: An Underlying Fund may invest in forward commitments, futures contracts, options, or swap agreements, including taking short positions using certain derivatives, as a principal investment strategy. These derivative investments give rise to a form of leverage. Leverage is investment exposure that exceeds the initial amount invested. The loss on a leveraged investment may far exceed an Underlying Fund’s principal amount invested. Leverage can magnify an Underlying Fund’s gains and losses and therefore increase its volatility. |
• | Foreign Markets Risk: Exposure to a foreign market through investments in foreign issuers (companies or other entities) can involve additional risks relating to market, economic, political, regulatory, geopolitical, or other conditions of that market. These factors can make investments in foreign issuers more volatile and less liquid than U.S. investments. Less stringent regulatory, accounting, and disclosure requirements and general supervision for issuers and markets are more common in certain foreign countries. Enforcing legal rights can be difficult, costly, and slow in certain foreign countries, and can be particularly difficult against foreign governments. In addition, foreign markets can react differently to these conditions than the U.S. market. Markets and economies throughout the world are becoming increasingly interconnected, and conditions or events in one market, country or region may adversely impact investments or issuers in, or foreign exchange rates with, another market, country or region. |
• | Liquidity Risk: Certain holdings may be difficult to purchase, sell and value, particularly during adverse market conditions, because there is a limited market for the investment or there are restrictions on resale. An Underlying Fund may not be able to sell a holding quickly at the price it has valued the holding, may be unable to take advantage of market opportunities or may be forced to sell other more desirable, more liquid securities or sell less liquid or illiquid securities at a loss if needed to raise cash to conduct operations, including to meet redemption requests. This risk may be particularly pronounced with respect to small-capitalization companies. |
• | Emerging Markets Risk: Investments in or exposure to investments in emerging market countries may be riskier than investments in or exposure to investments in U.S. and other developed markets for many reasons, including smaller market capitalizations, greater price volatility, less liquidity, lower credit quality, a higher degree of political and economic instability, the impact of economic sanctions, less governmental regulation and supervision of the financial industry and markets, and less stringent financial reporting and accounting standards and controls. |
• | Geographic Focus Risk: If an Underlying Fund invests a significant portion of its assets in a single country, limited number of countries, or particular geographic region, then the risk increases that economic, political, social, or other conditions in those countries or that region will have a significant impact on the Underlying Fund’s performance. As a result, the Underlying Fund’s performance may be more volatile than the performance of more geographically diversified funds. |
• | Financial Sector Risk: The operations and businesses of financial services companies are subject to extensive governmental regulation, the availability and cost of capital funds, and interest rate changes. General market downturns may affect financial services companies adversely. |
• | High Yield/High Risk or “Junk” Securities Risk: High yield/high risk securities are typically issued by companies that are highly leveraged, less creditworthy or financially distressed and are considered to be mostly speculative in nature (high risk), subject to greater liquidity risk, and subject to a greater risk of default than higher rated securities. High yield/high risk securities may be more volatile than investment grade securities. |
• | Active Management Risk: A portfolio manager’s judgments about the potential value or price appreciation of an investment may prove to be incorrect or fail to have the intended results, which could negatively impact an Underlying Fund’s performance. |
• | LIBOR Transition Risk: Certain investments in which an Underlying Fund invests rely in some manner on the London Interbank Offered Rate (“LIBOR”). LIBOR is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market as determined by ICE Benchmark Administration (“IBA”), the administrator of LIBOR. Previously, the Financial Conduct Authority (“FCA”), which regulates financial markets and financial services firms in the United Kingdom, announced that it will no longer compel the banks to continue to submit the daily rates for the calculation of LIBOR after 2021 and warned that LIBOR may cease to be available or appropriate for use beyond 2021. Additionally, the FCA have announced that a majority of U.S. dollar (“USD”) LIBOR settings will cease to be published by the IBA or any other administrator or will no longer be representative after June 30, 2023. |
• | Underlying Fund Risk: Because an Underlying Fund is available for investment by one or more “fund of funds” of the Trust and thus may have a significant percentage of its outstanding shares held by such fund of funds, a change in asset allocation by the fund of funds could result in large redemptions out of the Underlying Fund, causing the sale of securities in a short timeframe and potential increases in expenses to the Underlying Fund and its remaining shareholders, both of which could negatively impact performance. |
Average
Annual Total Returns |
1 year | 5 years | 10 years | |||||||||
Class
A (incepted |
( |
%) | % | % | ||||||||
Class
A (after taxes on
distributions) |
( |
%) | ( |
%) | % | |||||||
Class
A (after taxes on distributions and sale
of Fund shares) |
( |
%) | % | % | ||||||||
Class
C (incepted |
( |
%) | % | % | ||||||||
Class
I-2 (incepted |
( |
%) | % | % | ||||||||
S&P
500 Index (reflects no deductions for
fees, expenses or taxes) |
( |
%) | % | % | ||||||||
Bloomberg
US Aggregate Bond Index (reflects no
deductions for fees, expenses or taxes) |
( |
%) | % | % | ||||||||
Aristotle
Portfolio Optimization Growth Composite Benchmark1 (reflects no deductions for fees, expenses or
taxes) |
( |
%) | % | % |
1 | Aristotle
Portfolio Optimization Growth Composite Benchmark represents the blended
performance 58% S&P 500, 23% Bloomberg US Aggregate Bond, and 19% MSCI
EAFE Indices. |
Portfolio Manager and Primary Title with
Investment
Adviser |
Experience
with
Fund | |
Howard T. Hirakawa, CFA, Senior Vice President and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2003) | |
Carleton J. Muench, CFA, Vice President and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2006) | |
Samuel S. Park, Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2013) | |
Edward Sheng, PhD, CFA, CAIA, Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2021) |
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
Management
Fee1 |
% | % | % | |||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||
Acquired
Fund Fees and Expenses2 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses |
% | % | % | |||||||||
Less
Fee Waiver3 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % |
1 | The
Management Fee consists of an Advisory Fee and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.20% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.25% of the average net assets of the
class. |
2 |
3 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ | |||||||||
period. |
||||||||||||
Share Class | ||||||||||||
A | C | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ |
BROAD
ASSET CLASS ALLOCATIONS
|
Debt | Equity | |||
0-15% |
85‑100 | % |
• | Asset Allocation Fund of Funds Risk: Although the theory behind asset allocation is that diversification among asset classes can help reduce volatility over the long term, you still may lose money and/or experience price volatility. Performance of and assumptions about asset classes and Underlying Funds may also diverge from historical performance and assumptions used to develop the allocations in light of actual market conditions. There is a risk that you could achieve better returns by investing in an individual fund or funds representing a single asset class rather than investing in a fund of funds. Another risk of asset allocation is that the Fund’s actual asset class allocations may deviate from the intended allocation because an Underlying Fund’s investments can change due to market movements, the Underlying Fund Manager’s investment decisions or other factors, which could result in the Fund’s risk/return target not being met. Fund shareholders also bear indirectly their proportionate share of the expenses of the Underlying Funds in which the Fund invests. As a fund of funds, the Fund is exposed proportionally to the same risks as the Underlying Funds in which it invests. |
• | Conflicts of Interest Risk: The investment adviser and sub-adviser are subject to competing interests that have the potential to influence investment decisions for the Fund. For example, an Underlying Fund managed by an affiliate of the sub-adviser or the investment adviser may create an incentive for the sub-adviser to use that fund as an Underlying Fund. In addition, the sub-adviser may be influenced by its or the investment adviser’s view of the best interests of Underlying Funds, such as a view that an Underlying Fund may benefit from additional assets or could be harmed by redemptions. The sub-adviser seeks to identify and address any potential conflicts in a manner that is fair for Underlying Funds, the Fund and the shareholders of the Fund and Underlying Fund. The sub-adviser has adopted a policy under which investment decisions for the Fund must be made in the best interests of the Fund and its shareholders, and the sub-adviser may not take into account the interests of an Underlying Fund and its shareholders when making investment decisions for the Fund. |
• | ETF Risk: Shares of ETFs typically trade on securities exchanges and may at times trade at a premium or discount to their net asset values. If the Fund has to sell shares of an ETF when the shares are trading at a discount, the Fund will receive a price that is less than the ETF’s net asset value per share. In addition, an ETF may not replicate exactly the performance of the benchmark index it seeks to track. An investment in an ETF is an investment in another investment company and therefore, the Fund’s shareholders will indirectly bear a proportionate share of any fees and expenses of the ETFs in which the Fund invests. The Fund will pay brokerage commissions in connection with the purchase and sale of shares of ETFs. |
• | Equity Securities Risk: Equity securities tend to go up and down in value, sometimes rapidly and unpredictably. An equity security’s market value may decline for a number of reasons that relate to particular issuer, such as management performance, financial leverage, reduced demand for the issuer’s products or services, or as a result of factors that affect the issuer’s industry or market more broadly, such as labor shortages, increased production costs, or competitive conditions within an industry. |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• | Large-Capitalization Companies Risk: Although large-capitalization companies tend to have more stable prices than smaller, less established companies, they are still |
• | Growth Companies Risk: Growth companies are those that a portfolio manager believes have the potential for above average or rapid growth but may be subject to greater price volatility than investments in “undervalued” companies. |
• | Value Companies Risk: Value companies are those that a portfolio manager believes are undervalued and trading for less than their intrinsic values. There is a risk that the determination that a stock is undervalued is not correct or is not recognized in the market. |
• | Mid-Capitalization Companies Risk: Mid-capitalization companies may be subject to greater price volatility and may be more vulnerable to economic, market and industry changes than larger, more established companies. |
• | Emerging Markets Risk: Investments in or exposure to investments in emerging market countries may be riskier than investments in or exposure to investments in U.S. and other developed markets for many reasons, including smaller market capitalizations, greater price volatility, less liquidity, lower credit quality, a higher degree of political and economic instability, the impact of economic sanctions, less governmental regulation and supervision of the financial industry and markets, and less stringent financial reporting and accounting standards and controls. |
• | Small-Capitalization Companies Risk: Small-capitalization companies may be more susceptible to liquidity risk and price volatility and be more vulnerable to economic, market and industry changes than larger, more established companies. |
• | Leverage Risk: An Underlying Fund may invest in forward commitments, futures contracts, options, or swap agreements, including taking short positions using certain derivatives, as a principal investment strategy. These derivative investments give rise to a form of leverage. Leverage is investment exposure that exceeds the initial amount invested. The loss on a leveraged investment may far exceed an Underlying Fund’s principal amount invested. Leverage can magnify an Underlying Fund’s gains and losses and therefore increase its volatility. |
• | Currency Risk: A decline in the value of a foreign currency relative to the U.S. dollar reduces the value in U.S. dollars of an Underlying Fund’s investments denominated in or with exposure to that foreign currency. |
• | Credit Risk: An issuer or guarantor of a debt instrument might be unable or unwilling to meet its financial obligations and might not make interest or principal payments on an instrument when those payments are due (“default”). The risk of a default is higher for debt instruments that are non-investment grade and lower for debt instruments that are of higher quality. Defaults may potentially reduce an Underlying Fund’s income or ability to recover amounts due and may reduce the value of the debt instrument, sometimes dramatically. |
• |
Interest Rate Risk: The value of debt
instruments may fall when interest rates rise. Debt instruments with
longer durations tend to be more sensitive to changes in interest rates,
making them more volatile than debt instruments with shorter durations or
floating or adjustable interest rates. During periods when interest rates
are low or there are negative interest rates, an Underlying Fund’s yield
(and total return) also may be low, and an Underlying Fund may experience
low or negative returns. An Underlying Fund may be subject to heightened
levels of interest rate risk because the Federal Reserve has raised, and
may continue to raise, interest rates. As interest rates rise, the value
of fixed income investments will generally
decrease. |
• |
Mortgage-Related and Other Asset-Backed
Securities Risk: Mortgage-related and other asset-backed securities
are subject to certain risks affecting the housing market or the market
for the assets underlying such securities. These securities are also
subject to extension risk (the risk that rising interest rates extend the
duration of fixed mortgage-related and other asset-backed securities,
making them more sensitive to changes in interest rates), interest rate
risk (the risk that rising interest rates will cause a decline in the
value of a fixed income security), subprime risk (the risk that these
securities have exposure to borrowers with lower credit ratings/scores,
increasing potential default), prepayment risk (when interest rates
decline, borrowers may pay off their mortgages sooner than expected which
can reduce an Underlying Fund’s returns because an Underlying Fund may
have to reinvest its assets at lower interest rates), call risk (similar
to prepayment risk, an issuer may pay its obligations under a security
sooner than expected), U.S. government securities risk (securities backed
by different U.S. government agencies are subject to varying levels of
credit rating risk), issuer risk (the risk that a private issuer cannot
meet its obligations) and stripped mortgage-related securities risk (these
securities are particularly sensitive to changes in interest
rates). |
• |
U.S. Government Securities Risk: Not all
U.S. government securities are backed or guaranteed by the U.S. government
and different U.S. government securities are subject to varying degrees of
credit risk. There is a risk that
the U.S. government will not make timely payments on its debt or provide
financial support to U.S. government agencies, instrumentalities, or
sponsored enterprises if those entities are not able to meet their
financial obligations. |
• |
Foreign Markets Risk: Exposure to a
foreign market through investments in foreign issuers (companies or other
entities) can involve additional risks relating to market, economic,
political, regulatory, geopolitical, or other conditions of that market.
These factors can make investments in foreign issuers more volatile and
less liquid than U.S. investments. Less stringent regulatory, accounting,
and disclosure requirements and general supervision for issuers and
markets are more common in certain foreign countries. Enforcing legal
rights can be difficult, costly, and slow in certain foreign countries,
and can be particularly difficult against foreign governments. In
addition, foreign markets can react differently to
these |
conditions than the U.S. market. Markets and economies throughout the world are becoming increasingly interconnected, and conditions or events in one market, country or region may adversely impact investments or issuers in, or foreign exchange rates with, another market, country, or region. |
• |
Liquidity Risk: Certain holdings may be
difficult to purchase, sell and value, particularly during adverse market
conditions, because there is a limited market for the investment or there
are restrictions on resale. An Underlying Fund may not be able to sell a
holding quickly at the price it has valued the holding, may be unable to
take advantage of market opportunities or may be forced to sell other more
desirable, more liquid securities or sell less liquid or illiquid
securities at a loss if needed to raise cash to conduct operations,
including to meet redemption requests. This risk may be particularly
pronounced with respect to small-capitalization
companies. |
• |
Geographic Focus Risk: If an Underlying
Fund invests a significant portion of its assets in a single country,
limited number of countries, or particular geographic region, then the
risk increases that economic, political, social, or other conditions in
those countries or that region will have a significant impact on the
Underlying Fund’s performance. As a result, the Underlying Fund’s
performance may be more volatile than the performance of more
geographically diversified
funds. |
• |
Financial Sector Risk: The operations and businesses of
financial services companies are subject to extensive governmental
regulation, the availability and cost of capital funds, and interest rate
changes. General market downturns may affect financial services companies
adversely. |
• |
Active Management Risk: A portfolio manager’s judgments about
the potential value or price appreciation of an investment may prove to be
incorrect or fail to have the intended results, which could negatively
impact an Underlying Fund’s
performance. |
• |
Underlying Fund Risk: Because an Underlying Fund is available
for investment by one or more “fund of funds” of the Trust and thus may
have a significant percentage of its outstanding shares held by such fund
of funds, a change in asset allocation by the fund of funds could result
in large redemptions out of the Underlying Fund, causing the sale of
securities in a short timeframe and potential increases in expenses to the
Underlying Fund and its remaining shareholders, both of which could
negatively impact
performance. |
Average
Annual Total Returns |
1 year | 5 years | 10 years | |||||||||
Class
A (incepted |
( |
%) | % | % | ||||||||
Class
A (after taxes on
distributions) |
( |
%) | ( |
%) | % | |||||||
Class
A (after taxes on distributions and sale
of Fund shares) |
( |
%) | % | % | ||||||||
Class
C (incepted |
( |
%) | % | % | ||||||||
Class
I-2 (incepted |
( |
%) | % | % | ||||||||
S&P
500 Index (reflects no deductions for
fees, expenses, or taxes) |
( |
%) | % | % | ||||||||
Bloomberg
US Aggregate Bond Index (reflects no
deductions for fees, expenses, or taxes) |
( |
%) | % | % | ||||||||
Aristotle
Portfolio Optimization Aggressive-Growth Composite Benchmark1 (reflects no deductions for fees, expenses, or
taxes) |
( |
%) | % | % |
1 | Aristotle
Portfolio Optimization Aggressive Growth Composite Benchmark represents
the blended performance of 69% S&P 500, 26% MSCI EAFE, and 5%
Bloomberg US Aggregate Bond
Indices. |
Portfolio
Manager and Primary Title
with Investment
Adviser |
Experience
with
Fund | |
Howard
T. Hirakawa, CFA, Senior Vice President and Portfolio Manager |
Since
2023
(with Predecessor Fund
since 2003) | |
Carleton
J. Muench, CFA,
Vice
President and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2006) | |
Samuel
S. Park, Director
and
Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2013) | |
Edward
Sheng, PhD, CFA, CAIA, Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2021) |
Share Class | ||||||||||||
A | I | I-2 | ||||||||||
Management
Fee1 |
% | % | % | |||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses |
% | % | % | |||||||||
Less
Fee Waiver2 |
% | % | % | |||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % |
1 | The
Management Fee consists of an Advisory Fee and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.25% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.07% of the average net assets of the
class. |
2 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||
Share Class | ||||||||||||
A | I | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ | |||||||||
period. |
||||||||||||
Share Class | ||||||||||||
A | I | I-2 | ||||||||||
1
year |
$ | $ | $ | |||||||||
3
years |
$ | $ | $ | |||||||||
5
years |
$ | $ | $ | |||||||||
10
years |
$ | $ | $ |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• |
Credit Risk: An issuer or guarantor of a
debt instrument might be unable or unwilling to meet its financial
obligations and might not make interest or principal payments on an
instrument when those payments are due (“default”). The risk of a default
is higher for debt instruments that are non-investment grade and lower for
debt instruments that are of higher quality. Defaults may potentially
reduce the Fund’s income or ability to recover amounts due and may reduce
the value of the debt instrument, sometimes
dramatically. |
• |
Mortgage-Related and Other Asset-Backed
Securities Risk: Mortgage-related and other asset-backed securities
are subject to certain risks affecting the housing market or the market
for the assets underlying such securities. These securities are also
subject to extension risk (the risk
that |
rising interest rates extend the duration of fixed mortgage-related and other asset-backed securities, making them more sensitive to changes in interest rates), interest rate risk (the risk that rising interest rates will cause a decline in the value of a fixed income security), subprime risk (the risk that these securities have exposure to borrowers with lower credit ratings/scores, increasing potential default), prepayment risk (when interest rates decline, borrowers may pay off their mortgages sooner than expected which can reduce the Fund’s returns because the Fund may have to reinvest its assets at lower interest rates), call risk (similar to prepayment risk, an issuer may pay its obligations under a security sooner than expected), U.S. government securities risk (securities backed by different U.S. government agencies are subject to varying levels of credit rating risk) and issuer risk (the risk that a private issuer cannot meet its obligations). |
• |
Active Management Risk: A portfolio manager’s judgments about
the potential value or price appreciation of an investment may prove to be
incorrect or fail to have the intended results, which could negatively
impact the Fund’s
performance. |
• |
Interest Rate Risk: The value of debt
instruments may fall when interest rates rise. Debt instruments with
longer durations tend to be more sensitive to changes in interest rates,
making them more volatile than debt instruments with shorter durations or
floating or adjustable interest rates. During periods when interest rates
are low or there are negative interest rates, the Fund’s yield (and total
return) also may be low, and the Fund may experience low or negative
returns. The Fund may be subject to heightened levels of interest rate
risk because the Federal Reserve has raised, and may continue to raise,
interest rates. As interest rates rise, the value of fixed income
investments will generally
decrease. |
• |
Financial Sector Risk: The operations and
businesses of financial services companies are subject to extensive
governmental regulation, the availability and cost of capital funds, and
interest rate changes. General market downturns may affect financial
services companies
adversely. |
• |
Foreign Markets Risk: Exposure to a
foreign market through investments in foreign issuers (companies or other
entities) can involve additional risks relating to market, economic,
political, regulatory, geopolitical, or other conditions of that market.
These factors can make investments in foreign issuers more volatile and
less liquid than U.S. investments. Less stringent regulatory, accounting,
and disclosure requirements and general supervision for issuers and
markets are more common in certain foreign countries. Enforcing legal
rights can be difficult, costly, and slow in certain foreign countries,
and can be particularly difficult against foreign governments. In
addition, foreign markets can react differently to these conditions than
the U.S. market. Markets and economies throughout the world are becoming
increasingly interconnected, and conditions or events in one market,
country or region may adversely impact investments or issuers in, or
foreign exchange rates with, another market, country, or
region. |
• |
Liquidity Risk: Certain holdings may be
difficult to purchase, sell and value, particularly during adverse market
conditions, because there is a limited market for the investment or there
are restrictions on resale. The Fund may not be able to sell a holding
quickly at the price it has valued the holding, may be unable to take
advantage of market opportunities or may be forced to sell other more
desirable, more liquid securities or sell less liquid or illiquid
securities at a loss if needed to raise cash to conduct operations,
including to meet redemption requests. This risk may be particularly
pronounced with respect to small-capitalization
companies. |
• |
U.S. Government Securities Risk: Not all
U.S. government securities are backed or guaranteed by the U.S. government
and different U.S. government securities are subject to varying degrees of
credit risk. There is a risk that
the U.S. government will not make timely payments on its debt or provide
financial support to U.S. government agencies, instrumentalities, or
sponsored enterprises if those entities are not able to meet their
financial
obligations. |
Average
Annual Total Returns |
1 year | Since Inception | ||||||
Class
I (incepted |
% | % | ||||||
Class
I (after taxes on
distributions) |
( |
%) | % | |||||
Class
I (after taxes on distributions and sale
of Fund shares) |
% | % | ||||||
Class
I-2 (incepted |
% | % | ||||||
Bloomberg
Short Treasury Total Return Index (reflects no deductions for fees, expenses, or
taxes) (based on Class I inception date) |
% | % |
Portfolio
Manager and Primary Title with Sub-Adviser |
Experience with Fund | |
David
Weismiller, CFA, Senior Managing Director and Portfolio Manager |
Since 2023 (with Predecessor Fund since 2019) | |
Ying
Qiu, CFA, Managing Director and Portfolio Manager |
Since 2023 (with
Predecessor Fund since 2019) |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Management
Fee1 |
% | % | % | % | ||||||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||||||
Total
Annual Fund Operating Expenses |
% | % | % | % | ||||||||||||
Less
Fee Waiver2 |
% | % | % | % | ||||||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % | % |
1 | The
Management Fee consists of an Advisory Fee and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.40% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.10% for Class A, Class C and Class I-2 and 0.05% for Class I of the
average net assets of the
class. |
2 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ | ||||||||||||
period. |
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• |
Credit Risk: An issuer or guarantor of a
debt instrument might be unable or unwilling to meet its financial
obligations and might not make interest or principal payments on an
instrument when those payments are due (“default”). The risk of a default
is higher for debt instruments that are non-investment grade and lower for
debt instruments that are of higher quality. Defaults may potentially
reduce the Fund’s income or ability to recover amounts due and may reduce
the value of the debt instrument, sometimes
dramatically. |
• |
Floating Rate Loan Risk: Floating rate
loans (or bank loans) are usually rated below investment grade and thus
are subject to high yield/high risk or “junk” securities risk. The market
for floating rate loans is a private interbank resale market and thus may
be subject to irregular trading activity, wide bid/ask spreads and delayed
settlement periods. Purchases and sales of loans are generally subject to
contractual restrictions that must be fulfilled before a loan can be
bought or sold. These restrictions may hamper the Fund’s ability to buy or
sell loans and negatively affect the transaction price. A significant
portion of the floating rate loans held by the Fund may be “covenant lite”
loans that contain fewer or less restrictive constraints on the borrower
or other borrower-friendly characteristics and offer less protections for
investors than covenant loans. It may take longer than seven days for
transactions in loans to settle. This may result in cash proceeds not
being immediately available to the Fund, requiring the Fund to borrow cash
which would increase the Fund’s expenses. The Fund is also subject to
credit risk with respect to the issuer of the loan. Investments in junior
loans involve a higher degree of overall
risk. |
• |
High Yield/High Risk or “Junk” Securities
Risk: High yield/high risk securities are typically issued by
companies that are highly leveraged, less creditworthy, or financially
distressed and are considered to be mostly speculative in nature (high
risk), subject to greater liquidity
risk, and subject to a greater risk of default than higher rated
securities. High yield/high risk securities (including loans) may be more
volatile than investment grade
securities. |
• |
Mortgage-Related and Other Asset-Backed
Securities Risk:
Mortgage-related and other asset-backed securities are subject to certain
risks affecting the housing market or the market for the assets underlying
such securities. These securities are also subject to extension risk (the
risk that rising interest rates extend the duration of fixed
mortgage-related and other asset-backed securities, making them more
sensitive to changes in interest rates), interest rate risk (the risk that
rising interest rates will cause a decline in the value of a fixed income
security), subprime risk (the risk that these securities have exposure to
borrowers with lower credit ratings/scores, increasing potential default),
prepayment risk (when interest rates decline, borrowers may pay off their
mortgages sooner than expected which can reduce the Fund’s returns because
the Fund may have to reinvest its assets at lower interest rates), call
risk (similar to prepayment risk, an issuer may pay its obligations under
a security sooner than expected), U.S. government securities risk
(securities backed by different U.S. government agencies are subject to
varying levels of credit rating risk) and issuer risk (the risk that a
private issuer cannot meet its
obligations). |
• |
Active Management Risk: A portfolio manager’s judgments about the
potential value or price appreciation of an investment may prove to be
incorrect or fail to have the intended results, which could negatively
impact the Fund’s
performance. |
• |
Financial Sector Risk: The operations and businesses of
financial services companies are subject to extensive governmental
regulation, the availability and cost of capital funds, and interest rate
changes. General market downturns may affect financial services companies
adversely. |
• |
Foreign Markets Risk: Exposure to a
foreign market through investments in foreign issuers (companies or other
entities) can involve additional risks relating to market, economic,
political, regulatory, geopolitical, or other conditions of that market.
These factors can make investments in foreign issuers more volatile and
less liquid than U.S. investments. Less stringent regulatory, accounting,
and disclosure requirements and general supervision for issuers and
markets are more common in certain foreign countries. Enforcing legal
rights can be difficult, costly, and slow in certain foreign countries,
and can be particularly difficult against foreign governments. In
addition, foreign markets can react differently to these conditions than
the U.S. market. Markets and economies throughout the world are becoming
increasingly interconnected, and conditions or events in one market,
country or region may adversely impact investments or issuers in, or
foreign exchange rates with, another market, country, or
region. |
• |
Interest Rate Risk: The value of debt instruments may fall
when interest rates rise. Debt instruments with longer durations tend to
be more sensitive to changes in interest rates, making them more volatile
than debt instruments with shorter durations or floating or adjustable
interest rates. During periods when interest rates are low or there are
negative interest rates, the Fund’s yield (and total return) also may be
low and the Fund may experience low or negative returns. The Fund may be
subject to heightened levels of interest rate risk because the Federal
Reserve has raised, and may continue to raise, interest rates. As interest
rates rise, the value of fixed income investments will generally
decrease. |
• |
Liquidity Risk: Certain holdings may be difficult to
purchase, sell and value, particularly during adverse market conditions,
because there is a limited market for the investment or there are
restrictions on resale. The Fund may not be able to sell a holding quickly
at the price it has valued the holding, may be unable to take advantage of
market opportunities or may be forced to sell other more desirable, more
liquid securities or sell less liquid or illiquid securities at a loss if
needed to raise cash to conduct operations, including to meet redemption
requests. This risk may be particularly pronounced with respect to
small-capitalization
companies. |
• |
U.S. Government Securities Risk: Not all
U.S. government securities are backed or guaranteed by the U.S. government
and different U.S. government securities are subject to varying degrees of
credit risk. There is a risk that
the U.S. government will not make timely payments on its debt or provide
financial support to U.S. government agencies, instrumentalities, or
sponsored enterprises if those entities are not able to meet their
financial
obligations. |
• |
LIBOR Transition Risk: Certain
investments in which the Fund invests rely in some manner on the London
Interbank Offered Rate (“LIBOR”). LIBOR is intended to represent the rate
at which contributing banks may obtain short-term borrowings from each
other in the London interbank market as determined by ICE Benchmark
Administration (“IBA”), the administrator of LIBOR. Previously, the
Financial Conduct Authority (“FCA”), which regulates financial markets and
financial services firms in the United Kingdom, announced that it will no
longer compel the banks to continue to submit the daily rates for the
calculation of LIBOR after 2021 and warned that LIBOR may cease to be
available or appropriate for use beyond 2021. Additionally, the FCA have
announced that a majority of U.S. dollar (“USD”) LIBOR settings will cease
to be published by the IBA or any other administrator or will no longer be
representative after June 30,
2023. |
Average
Annual Total Returns |
1 year | 5 years | 10 years | |||||||||
Class
I (incepted |
( |
%) | % | % | ||||||||
Class
I (after taxes on
distributions) |
( |
%) | % | % | ||||||||
Class
I (after taxes on distributions and sale
of Fund shares) |
( |
%) | % | % | ||||||||
Class
A (incepted |
( |
%) | % | % | ||||||||
Class
C (incepted |
( |
%) | % | % | ||||||||
Class
I-2 (incepted |
( |
%) | % | % | ||||||||
Bloomberg
US 1-3 Year Government/Credit Bond Index (reflects no deductions for fees, expenses, or
taxes) (based on Class I inception date) |
( |
%) | % | % |
Portfolio
Manager and Primary Title
with Sub-Adviser |
Experience
with Fund | |
David
Weismiller, CFA, Senior Managing Director and Portfolio Manager |
Since
2023
(with Predecessor Fund
since 2011) | |
Michael
Marzouk, CFA, Senior Managing Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2011) | |
Ying
Qiu, CFA, Managing Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2018) |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Management
Fee1 |
% | % | % | % | ||||||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||||||
Total
Annual Fund Operating Expenses |
% | % | % | % | ||||||||||||
Less
Fee Waiver2 |
% | % | % | % | ||||||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % | % |
1 | The
Management Fee consists of an Advisory Fee and a Supervision and
Administrative Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.50% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.10% for Class A and Class C and 0.05% for Class I and Class I-2 of the
average net assets of the
class. |
2 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ | ||||||||||||
period. |
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• |
Credit Risk: An issuer or guarantor of a
debt instrument might be unable or unwilling to meet its financial
obligations and might not make interest or principal payments on an
instrument when those payments are due (“default”). The risk of a default
is higher for debt |
instruments that are non-investment grade and lower for debt instruments that are of higher quality. Defaults may potentially reduce the Fund’s income or ability to recover amounts due and may reduce the value of the debt instrument, sometimes dramatically. |
• |
High Yield/High Risk or “Junk” Securities
Risk: High yield/high risk securities are typically issued by
companies that are highly leveraged, less creditworthy or financially
distressed and are considered to be mostly speculative in nature (high
risk), subject to greater liquidity
risk, and subject to a greater risk of default than higher rated
securities. High yield/high risk securities (including loans) may be more
volatile than investment grade
securities. |
• |
Interest Rate Risk: The value of debt
instruments may fall when interest rates rise. Debt instruments with
longer durations tend to be more sensitive to changes in interest rates,
making them more volatile than debt instruments with shorter durations or
floating or adjustable interest rates. During periods when interest rates
are low or there are negative interest rates, the Fund’s yield (and total
return) also may be low, and the Fund may experience low or negative
returns. The Fund may be subject to heightened levels of interest rate
risk because the Federal Reserve has raised, and may continue to raise,
interest rates. As interest rates rise, the value of fixed income
investments will generally
decrease. |
• |
Active Management Risk: A portfolio manager’s judgments about
the potential value or price appreciation of an investment may prove to be
incorrect or fail to have the intended results, which could negatively
impact the Fund’s
performance. |
• |
Floating Rate Loan Risk: Floating rate
loans (or bank loans) are usually rated below investment grade and thus
are subject to high yield/high risk or “junk” securities risk. The market
for floating rate loans is a private interbank resale market and thus may
be subject to irregular trading activity, wide bid/ask spreads and delayed
settlement periods. Purchases and sales of loans are generally subject to
contractual restrictions that must be fulfilled before a loan can be
bought or sold. These restrictions may hamper the Fund’s ability to buy or
sell loans and negatively affect the transaction price. A significant
portion of the floating rate loans held by the Fund may be “covenant lite”
loans that contain fewer or less restrictive constraints on the borrower
or other borrower-friendly characteristics and offer less protections for
investors than covenant loans. It may take longer than seven days for
transactions in loans to settle. This may result in cash proceeds not
being immediately available to the Fund, requiring the Fund to borrow cash
which would increase the Fund’s expenses. The Fund is also subject to
credit risk with respect to the issuer of the loan. Investments in junior
loans involve a higher degree of overall
risk. |
• |
Foreign Markets Risk: Exposure to a
foreign market through investments in foreign issuers (companies or other
entities) can involve additional risks relating to market, economic,
political, regulatory, geopolitical, or other conditions of that market.
These factors can make investments in foreign issuers more volatile and
less liquid than U.S. investments. Less stringent regulatory, accounting,
and disclosure requirements and general supervision for issuers and
markets are more common in certain foreign countries. Enforcing legal
rights can be difficult, costly, and slow in certain foreign countries,
and can be particularly difficult against foreign governments. In
addition, foreign markets can react differently to these conditions than
the U.S. market. Markets and economies throughout the world are becoming
increasingly interconnected, and conditions or events in one market,
country or region may adversely impact investments or issuers in, or
foreign exchange rates with, another market, country or
region. |
• |
Liquidity Risk: Certain holdings may be
difficult to purchase, sell and value, particularly during adverse market
conditions, because there is a limited market for the investment or there
are restrictions on resale. The Fund may not be able to sell a holding
quickly at the price it has valued the holding, may be unable to take
advantage of market opportunities or may be forced to sell other more
desirable, more liquid securities or sell less liquid or illiquid
securities at a loss if needed to raise cash to conduct operations,
including to meet redemption requests. This risk may be particularly
pronounced with respect to small-capitalization
companies. |
• |
Mortgage-Related and Other Asset-Backed
Securities Risk: Mortgage-related and other asset-backed securities
are subject to certain risks affecting the housing market or the market
for the assets underlying such securities. These securities are also
subject to extension risk (the risk that rising interest rates extend the
duration of fixed mortgage-related and other asset-backed securities,
making them more sensitive to changes in interest rates), interest rate
risk (the risk that rising interest rates will cause a decline in the
value of a fixed income security), subprime risk (the risk that these
securities have exposure to borrowers with lower credit ratings/scores,
increasing potential default), prepayment risk (when interest rates
decline, borrowers may pay off their mortgages sooner than expected which
can reduce the Fund’s returns because the Fund may have to reinvest its
assets at lower interest rates), call risk (similar to prepayment risk, an
issuer may pay its obligations under a security sooner than expected),
U.S. government securities risk (securities backed by different U.S.
government agencies are subject to varying levels of credit rating risk),
issuer risk (the risk that a private issuer cannot meet its obligations)
and stripped mortgage-related securities risk (these securities are
particularly sensitive to changes in interest
rates). |
• |
U.S. Government Securities Risk: Not all
U.S. government securities are backed or guaranteed by the U.S. government
and different U.S. government securities are subject to varying degrees of
credit risk. There is a risk that
the U.S. government will not make timely payments on its debt or provide
financial support to U.S. government agencies, instrumentalities, or
sponsored enterprises if those entities are not able to meet their
financial
obligations. |
• |
LIBOR Transition Risk: Certain
investments in which the Fund invests rely in some manner on the London
Interbank Offered Rate (“LIBOR”). LIBOR is intended to represent the rate
at which contributing banks may obtain short-term borrowings from each
other in the London interbank market as determined by ICE Benchmark
Administration (“IBA”), the administrator of LIBOR. Previously, the
Financial Conduct Authority (“FCA”), which regulates financial markets and
financial services firms in the United Kingdom, announced that it will no
longer compel the banks to continue to submit the daily rates for the
calculation of LIBOR after 2021 and warned that LIBOR may cease to be
available or appropriate for use beyond 2021. Additionally, the FCA have
announced that a majority of U.S. dollar (“USD”) LIBOR settings will cease
to be published by the IBA or any other administrator or will no longer be
representative after June 30,
2023. |
• |
Underlying Fund Risk: Because the Fund is available for
investment by one or more “fund of funds” of the Trust and thus may have a
significant percentage of its outstanding shares held by such fund of
funds, a change in asset allocation by the fund of funds could result in
large redemptions out of the Fund, causing the sale of securities in a
short timeframe and potential increases in expenses to the Fund and its
remaining shareholders, both of which could negatively impact
performance. |
Average
Annual Total Returns December 31, 2022) |
1 year | 5 years | 10 years | Since Inception |
||||||||||||
Class
I (incepted |
( |
%) | % | % | ||||||||||||
Class
I (after taxes on
distributions) |
( |
%) | ( |
%) | % | |||||||||||
Class
I (after taxes on distributions and sale
of Fund shares) |
( |
%) | % | % | ||||||||||||
Class
A (incepted |
( |
%) | ( |
%) | % | |||||||||||
Class
C (incepted |
( |
%) | ( |
%) | % | |||||||||||
Class
I-2 (incepted |
( |
%) | % | % | ||||||||||||
Bloomberg
US Aggregate Bond Index (reflects no
deductions for fees, expenses, or taxes) (based on Class I inception
date) |
( |
%) | % | % |
Portfolio
Manager and Primary Title with Sub-Adviser |
Experience with Fund | |
David
Weismiller, CFA, Senior Managing Director and Portfolio Manager |
Since
2023
(with Predecessor Fund since 2010) | |
Michael
Marzouk, CFA, Senior Managing Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2016) | |
Brian
M. Robertson, CFA, Senior Managing Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2016) | |
Ying
Qiu, CFA, Managing Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2021) |
Share Class | ||||||||
I | I-2 | |||||||
Management
Fee1 |
% | % | ||||||
Total
Annual Fund Operating Expenses |
% | % | ||||||
Less
Fee Waiver2 |
% | % | ||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % |
1 | The
Management Fee consists of an Advisory Fee and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.38% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.10% of the average net assets of the
class. |
2 | Aristotle
Investment Services, LLC has contractually agreed, through |
Your
expenses (in dollars) if you SELL your shares
at
the end of each period. |
||||||||
Share Class | ||||||||
I | I-2 | |||||||
1
year |
$ | $ | ||||||
3
years |
$ | $ | ||||||
5
years |
$ | $ | ||||||
10
years |
$ | $ | ||||||
|
||||||||
Share Class | ||||||||
I | I-2 | |||||||
1
year |
$ | $ | ||||||
3
years |
$ | $ | ||||||
5
years |
$ | $ | ||||||
10
years |
$ | $ |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• |
Credit Risk: An issuer or guarantor of a
debt instrument might be unable or unwilling to meet its financial
obligations and might not make interest or principal payments on an
instrument when those payments are due (“default”). The risk of a default
is higher for debt instruments that are non-investment grade and lower for
debt instruments that are of higher quality. Defaults may potentially
reduce the Fund’s income or ability to recover amounts due and may reduce
the value of the debt instrument, sometimes
dramatically. |
• |
Interest Rate Risk: The value of debt
instruments may fall when interest rates rise. Debt instruments with
longer durations tend to be more sensitive to changes in interest rates,
making them more volatile than debt instruments with shorter durations or
floating or adjustable interest rates. During periods when interest rates
are low or there are negative interest rates, the Fund’s yield (and total
return) also may be low, and the Fund may experience low or negative
returns. The Fund may be subject to heightened levels of interest rate
risk because the Federal Reserve has raised, and may continue to raise,
interest rates. As interest rates rise, the value of fixed income
investments will generally
decrease. |
• |
ESG Criteria Risk: The sub-adviser’s
consideration of ESG Criteria in its investment process could cause the
Fund to forgo investment opportunities available to funds not using these
criteria and underperform such funds. The sub-adviser’s determination of
what constitutes ESG Criteria and its process to evaluate the ESG Criteria
may differ from other investment advisers. Further, there can be no
assurance that the ESG Criteria utilized by the sub-adviser, or any
judgment exercised by the sub-adviser will reflect the beliefs or values
of any particular investor. An independent third-party ESG data provider’s
assessment of the financial materiality of ESG factors could be
inaccurate, and the provider could delay ESG data delivery and evaluation
(e.g., changing geo-political
risks that may impact involvement in one or more excluded activity), which
may have an adverse impact on the Fund’s performance or cause the Fund to
hold a security that might be ranked low from an environmental, social or
governance perspective, or its methodology could be based on a methodology
or perspective different from that of another provider. In addition,
regulations and industry practices related to ESG are evolving rapidly,
and the sub-adviser’s practices may change if required to comply with such
regulations or adopt such
practices. |
• |
Active Management Risk: A portfolio manager’s judgments about
the potential value or price appreciation of an investment may prove to be
incorrect or fail to have the intended results, which could negatively
impact the Fund’s
performance. |
• |
Foreign Markets Risk: Exposure to a
foreign market through investments in foreign issuers (companies or other
entities) can involve additional risks relating to market, economic,
political, regulatory, geopolitical, or other conditions of that market.
These factors can make investments in foreign issuers more volatile and
less liquid than U.S. investments. Less stringent regulatory, accounting,
and disclosure requirements and general supervision for issuers and
markets are more common in certain foreign countries. Enforcing legal
rights can be difficult, costly, and slow in certain foreign countries,
and can be particularly difficult against foreign governments. In
addition, foreign markets can react differently to these conditions than
the U.S. market. Markets and economies throughout the world are becoming
increasingly interconnected, and conditions or events in one market,
country or region may adversely impact investments or issuers in, or
foreign exchange rates with, another market, country, or
region. |
• |
Financial Sector Risk: The operations and
businesses of financial services companies are subject to extensive
governmental regulation, the availability and cost of capital funds, and
interest rate changes. General market downturns may affect financial
services companies
adversely. |
• |
Mortgage-Related and Other Asset-Backed
Securities Risk: Mortgage-related and other asset-backed securities
are subject to certain risks affecting the housing market or the market
for the assets underlying such securities. These securities are also
subject to extension risk (the risk that rising interest rates extend the
duration of fixed mortgage-related and other asset-backed securities,
making them more sensitive to changes in interest rates), interest
rate |
risk (the risk that rising interest rates will cause a decline in the value of a fixed income security), subprime risk (the risk that these securities have exposure to borrowers with lower credit ratings/score, increasing potential default), prepayment risk (when interest rates decline, borrowers may pay off their mortgages sooner than expected which can reduce the Fund’s returns because the Fund may have to reinvest its assets at lower interest rates), call risk (similar to prepayment risk, an issuer may pay its obligations under a security sooner than expected), U.S. government securities risk (securities backed by different U.S. government agencies are subject to varying levels of credit rating risk) and issuer risk (the risk that a private issuer cannot meet its obligations). |
• |
U.S. Government Securities Risk: Not all
U.S. government securities are backed or guaranteed by the U.S. government
and different U.S. government securities are subject to varying degrees of
credit risk. There is a risk that
the U.S. government will not make timely payments on its debt or provide
financial support to U.S. government agencies, instrumentalities, or
sponsored enterprises if those entities are not able to meet their
financial obligations. |
• |
LIBOR Transition Risk: Certain
investments in which the Fund invests rely in some manner on the London
Interbank Offered Rate (“LIBOR”). LIBOR is intended to represent the rate
at which contributing banks may obtain short-term borrowings from each
other in the London interbank market as determined by ICE Benchmark
Administration (“IBA”), the administrator of LIBOR. Previously, the
Financial Conduct Authority (“FCA”), which regulates financial markets and
financial services firms in the United Kingdom, announced that it will no
longer compel the banks to continue to submit the daily rates for the
calculation of LIBOR after 2021 and warned that LIBOR may cease to be
available or appropriate for use beyond 2021. Additionally, the FCA have
announced that a majority of U.S. dollar (“USD”) LIBOR settings will cease
to be published by the IBA or any other administrator or will no longer be
representative after June 30,
2023. |
Average
Annual Total Returns |
1 year | Since Inception |
||||||
Class
I (incepted |
( |
%) | ( |
%) | ||||
Class
I (after taxes on
distributions) |
( |
%) | ( |
%) | ||||
Class
I (after taxes on distributions and sale
of Fund shares) |
( |
%) | ( |
%) | ||||
Class
I-2 (incepted |
( |
%) | ( |
%) | ||||
Bloomberg
US Aggregate Bond Index (reflects no
deductions for fees, expenses, or taxes) (based on Class I inception
date) |
( |
%) | ( |
%) |
Portfolio
Manager and Primary Title with Sub-Adviser |
Experience with Fund | |
David
Weismiller, CFA, Senior Managing Director and Portfolio Manager |
Since 2023 (with Predecessor Fund since 2020) | |
Ying
Qiu, CFA, Managing Director and Portfolio Manager |
Since 2023 (with
Predecessor Fund since 2020) |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Management
Fee1 |
% | % | % | % | ||||||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||||||
Total
Annual Fund Operating Expenses |
% | % | % | % | ||||||||||||
Less
Fee Waiver2 |
% | % | % | % | ||||||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % | % |
1 | The
Management Fee consists of an Advisory Fee and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.59% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.10% for Class A, Class C and Class I-2 and 0.05% for Class I of the
average net assets of the
class. |
2 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ | ||||||||||||
|
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• |
Credit Risk: An issuer or guarantor of a debt
instrument might be unable or unwilling to meet its financial obligations
and might not make interest or principal payments on an instrument when
those payments are due (“default”). The risk of a default is higher for
debt instruments that are non-investment grade and lower for debt
instruments that are of higher quality. Defaults may potentially reduce
the Fund’s income or ability to recover amounts due and may reduce the
value of the debt instrument, sometimes
dramatically. |
• |
Floating Rate Loan Risk: Floating rate
loans (or bank loans) are usually rated below investment grade and thus
are subject to high yield/high risk or
“junk” securities risk. The market for floating rate loans is a
private interbank resale market and thus may be subject to irregular
trading activity, wide bid/ask spreads, and delayed settlement periods.
Purchases and sales of loans are generally subject to contractual
restrictions that must be fulfilled before a loan can be bought or sold.
These restrictions may hamper the Fund’s ability to buy or sell loans and
negatively affect the transaction price. A significant portion of the
floating rate loans held by the Fund may be “covenant lite” loans that
contain fewer or less restrictive constraints on the borrower or other
borrower-friendly characteristics and offer less protections for investors
than covenant loans. It may take longer than seven days for transactions
in loans to settle. This may result in cash proceeds not being immediately
available to the Fund, requiring the Fund to borrow cash which would
increase the Fund’s expenses. The Fund is also subject to credit risk with respect to the issuer
of the loan. Investments in junior loans involve a higher degree of
overall
risk. |
• |
High Yield/High Risk or “Junk” Securities
Risk: High yield/high risk securities are typically issued by
companies that are highly leveraged, less creditworthy, or financially
distressed and are considered to be mostly speculative in nature (high
risk), subject to greater liquidity
risk, and subject to a greater risk of default than higher rated
securities. High yield/high risk securities (including loans) may be more
volatile than investment grade
securities. |
• |
Liquidity Risk: Certain holdings may be
difficult to purchase, sell and value, particularly during adverse market
conditions, because there is a limited market for the investment or there
are restrictions on resale. The Fund may not be able to sell a holding
quickly at the price it has valued the holding, may be unable to take
advantage of market opportunities or may be forced to sell other more
desirable, more liquid securities or sell less liquid or illiquid
securities at a loss if needed to raise cash to conduct operations,
including to meet redemption requests. This risk may be particularly
pronounced with respect to small-capitalization
companies. |
• |
Active Management Risk: A portfolio manager’s judgments about
the potential value or price appreciation of an investment may prove to be
incorrect or fail to have the intended results, which could negatively
impact the Fund’s
performance. |
• |
Convertible Securities Risk: Convertible
securities are generally subject to the risks of stocks when the
underlying stock price is high relative to the conversion price (because
the conversion feature is more valuable) and to the risks of debt
securities when the underlying stock price is low relative to the
conversion price (because the conversion feature is less valuable).
Convertible securities are also generally subject to credit risk, as they tend to be of lower
credit quality, and interest rate risk,
though they generally are not as sensitive to interest rate changes
as conventional debt securities. A convertible security’s value also tends
to increase and decrease with the underlying stock and typically has less
potential for gain or loss than the underlying
stock. |
• |
Currency Risk: A decline in the value of
a foreign currency relative to the U.S. dollar reduces the value in U.S.
dollars of the Fund’s investments denominated in or with exposure to that
foreign currency. |
• | Equity Securities Risk: Equity securities tend to go up and down in value, sometimes rapidly and unpredictably. An equity security’s market value may decline for a number of reasons that relate to particular issuer, such as management performance, financial leverage, reduced demand for the issuer’s products or services, or as a result of factors that affect the issuer’s industry or market more broadly, such as labor shortages, increased production costs, or competitive conditions within an industry. |
• |
Foreign Markets Risk: Exposure to a
foreign market through investments in foreign issuers (companies or other
entities) can involve additional risks relating to market, economic,
political, regulatory, geopolitical, or other conditions of that market.
These factors can make investments in foreign issuers more volatile and
less liquid than U.S. investments. Less stringent regulatory, accounting,
and disclosure requirements and general supervision for issuers and
markets are more common in certain foreign countries. Enforcing legal
rights can be difficult, costly, and slow in certain foreign countries,
and can be particularly difficult against foreign governments. In
addition, foreign markets can react differently to these conditions than
the U.S. market. Markets and economies throughout the world are becoming
increasingly interconnected, and conditions or events in one market,
country or region may adversely impact investments or issuers in, or
foreign exchange rates with, another market, country, or
region. |
• |
Interest Rate Risk: The value of debt instruments may fall
when interest rates rise. Debt instruments with longer durations tend to
be more sensitive to changes in interest rates, making them more volatile
than debt instruments with shorter durations or floating or adjustable
interest rates. During periods when interest rates are low or there are
negative interest rates, the Fund’s yield (and total return) also may be
low, and the Fund may experience low or negative returns. The Fund may be
subject to heightened levels of interest rate risk because the Federal
Reserve has raised, and may continue to raise, interest rates. As interest
rates rise, the value of fixed income investments will generally
decrease. |
• |
Mortgage-Related and Other Asset-Backed
Securities Risk: Mortgage-related and other asset-backed securities
are subject to certain risks affecting the housing market or the market
for the assets underlying such securities. These securities are also
subject to extension risk (the risk that rising interest rates extend the
duration of fixed mortgage-related and other asset-backed securities,
making them more sensitive to changes in interest rates), interest rate
risk (the risk that rising interest rates will cause a decline in the
value of a fixed income security), subprime risk (the risk that these
securities have exposure to borrowers with lower credit ratings/scores,
increasing potential default), prepayment risk (when interest rates
decline, borrowers may pay off their mortgages sooner than expected which
can reduce the Fund’s returns because the Fund may have to reinvest its
assets at lower interest rates), call risk (similar to prepayment risk, an
issuer may pay its obligations under a security sooner than expected),
U.S. government securities risk (securities backed by different U.S.
government agencies are subject to varying levels of credit rating risk)
and issuer risk (the risk that a private issuer cannot meet its
obligations). |
• |
U.S. Government Securities Risk: Not all U.S. government securities are
backed or guaranteed by the U.S. government and different U.S. government
securities are subject to varying degrees of credit risk. There is a risk that the
U.S. government will not make timely payments on its debt or provide
financial support to U.S. government agencies, instrumentalities, or
sponsored enterprises if those entities are not able to meet their
financial obligations. |
• |
LIBOR Transition Risk: Certain investments in which the Fund
invests rely in some manner on the London Interbank Offered Rate
(“LIBOR”). LIBOR is intended to represent the rate at which contributing
banks may obtain short-term borrowings from each other in the London
interbank market as determined by ICE Benchmark Administration (“IBA”),
the administrator of LIBOR. Previously, the Financial Conduct Authority
(“FCA”), which regulates financial markets and financial services firms in
the United Kingdom, announced that it will no longer compel the banks to
continue to submit the daily rates for the calculation of LIBOR after 2021
and warned that LIBOR may cease to be available or appropriate for use
beyond 2021. Additionally, the FCA have announced that a majority of U.S.
dollar (“USD”) LIBOR settings will cease to be published by the IBA or any
other administrator or will no longer be representative after
June 30,
2023. |
|
1 year | 5 years | 10 years | |||||||||
Class
I (incepted |
( |
%) | % | % | ||||||||
Class
I (after taxes on
distributions) |
( |
%) | % | % | ||||||||
Class
I (after taxes on distributions and sale
of Fund shares) |
( |
%) | % | % | ||||||||
Class
A (incepted |
( |
%) | % | % | ||||||||
Class
C (incepted |
( |
%) | % | % | ||||||||
Class
I-2 (incepted |
( |
%) | % | % | ||||||||
Bloomberg
US Aggregate Bond Index (reflects no
deductions for fees, expenses, or taxes) (based on Class I inception
date) |
( |
%) | % | % |
Portfolio
Manager and Primary Title with Sub-Adviser |
Experience with Fund | |
Brian
M. Robertson, CFA, Senior Managing Director and Portfolio Manager |
Since 2023 (with Predecessor Fund since 2011) | |
Michael
Marzouk, CFA, Senior Managing Director and Portfolio Manager |
Since 2023 (with
Predecessor Fund since 2016) | |
David
Weismiller, CFA, Senior Managing Director and Portfolio Manager |
Since 2023 (with
Predecessor Fund since 2016) |
Aristotle Floating Rate Income Fund |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Management
Fee1 |
% | % | % | % | ||||||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||||||
Other
Expenses2 |
% | % | % | % | ||||||||||||
Acquired
Fund Fees and Expenses3 |
% | % | % | % | ||||||||||||
Total
Annual Fund Operating Expenses |
% | % | % | % | ||||||||||||
Less
Fee Waiver4 |
( |
%) | ( |
%) | % | ( |
%) | |||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % | % |
1 |
2 | ||||||||
3 | ||||||||
4 |
|
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ |
|
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ |
• |
Floating Rate Loan Risk: Floating rate
loans (or bank loans) are usually rated below investment grade and thus
are subject to high yield/high risk or
“junk” securities risk. The market for floating rate loans is a
private interbank resale market and thus may be subject to irregular
trading activity, wide bid/ask spreads and delayed settlement periods.
Purchases and sales of loans are generally subject to contractual
restrictions that must be fulfilled before a loan can be bought or sold.
These restrictions may hamper the Fund’s ability to buy or sell loans and
negatively affect the transaction price. A significant portion of the
floating rate loans held by the Fund may be “covenant lite” loans that
contain fewer or less restrictive constraints on the borrower or other
borrower-friendly characteristics and offer less protections for investors
than covenant loans. It may take longer than seven days for transactions
in loans to
settle. |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• | Credit Risk: An issuer or guarantor of a debt instrument might be unable or unwilling to meet its financial obligations and might not make interest or principal payments on an instrument when those payments are due (“default”). The risk of a default is higher for debt instruments that are non-investment grade and lower for debt instruments that are of higher quality. Defaults may potentially reduce the Fund’s income or ability to recover amounts due and may reduce the value of the debt instrument, sometimes dramatically. |
• | High Yield/High Risk or “Junk” Securities Risk: High yield/high risk securities are typically issued by companies that are highly leveraged, less creditworthy or financially distressed and are considered to be mostly speculative in nature (high risk), subject to greater liquidity risk, and subject to a greater risk of default than higher rated securities. High yield/high risk securities (including loans) may be more volatile than investment grade securities. |
• | Active Management Risk: A portfolio manager’s judgments about the potential value or price appreciation of an investment may prove to be incorrect or fail to have the intended results, which could negatively impact the Fund’s performance. |
• | Foreign Markets Risk: Exposure to a foreign market through investments in foreign issuers (companies or other entities) can involve additional risks relating to market, economic, political, regulatory, geopolitical, or other conditions of that market. These factors can make investments in foreign issuers more volatile and less liquid than U.S. investments. Less stringent regulatory, accounting, and disclosure requirements and general supervision for issuers and markets are more common in certain foreign countries. Enforcing legal rights can be difficult, costly, and slow in certain foreign countries, and can be particularly difficult against foreign governments. In addition, foreign markets can react differently to these conditions than the U.S. market. Markets and economies |
throughout
the world are becoming increasingly interconnected, and conditions or
events in one market, country or region may adversely impact investments
or issuers in, or foreign exchange rates with, another market, country, or
region. |
• | Interest Rate Risk: The value of debt instruments may fall when interest rates rise. Debt instruments with longer durations tend to be more sensitive to changes in interest rates, making them more volatile than debt instruments with shorter durations or floating or adjustable interest rates. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also may be low, and the Fund may experience low or negative returns. The Fund may be subject to heightened levels of interest rate risk because the Federal Reserve has raised, and may continue to raise, interest rates. As interest rates rise, the value of fixed income investments will generally decrease. |
• | Liquidity Risk: Certain holdings may be difficult to purchase, sell and value, particularly during adverse market conditions, because there is a limited market for the investment or there are restrictions on resale. The Fund may not be able to sell a holding quickly at the price it has valued the holding, may be unable to take advantage of market opportunities or may be forced to sell other more desirable, more liquid securities or sell less liquid or illiquid securities at a loss if needed to raise cash to conduct operations, including to meet redemption requests. This risk may be particularly pronounced with respect to small-capitalization companies. |
• | LIBOR Transition Risk: Certain investments in which the Fund invests rely in some manner on the London Interbank Offered Rate (“LIBOR”). LIBOR is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market as determined by ICE Benchmark Administration (“IBA”), the administrator of LIBOR. Previously, the Financial Conduct Authority (“FCA”), which regulates financial markets and financial services firms in the United Kingdom, announced that it will no longer compel the banks to continue to submit the daily rates for the calculation of LIBOR after 2021 and warned that LIBOR may cease to be available or appropriate for use beyond 2021. Additionally, the FCA have announced that a majority of U.S. dollar (“USD”) LIBOR settings will cease to be published by the IBA or any other administrator or will no longer be representative after June 30, 2023. |
• | Underlying Fund Risk: Because the Fund is available for investment by one or more “fund of funds” of the Trust and thus may have a significant percentage of its outstanding shares held by such fund of funds, a change in asset allocation by the fund of funds could result in large redemptions out of the Fund, causing the sale of securities in a short timeframe and potential increases in expenses to the Fund and its remaining shareholders, both of which could negatively impact performance. |
|
1 year | 5 years | 10 years | |||||||||
Class I
(incepted |
( |
%) | % | % | ||||||||
Class I
(after taxes on distributions) |
( |
%) | % | % | ||||||||
Class I
(after taxes on distributions and sale of Fund shares) |
( |
%) | % | % | ||||||||
Class A
(incepted |
( |
%) | % | % | ||||||||
Class C
(incepted |
( |
%) | % | % | ||||||||
Class I-2 (incepted |
( |
%) | % | % | ||||||||
Credit Suisse Leveraged Loan Index (reflects no deductions for fees, expenses, or
taxes) (based on Class I inception date) |
( |
%) | % | % |
Portfolio Manager and Primary Title with Sub-Adviser |
Experience
with Fund | |
J.P.
Leasure, Senior Managing Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2011) | |
Michael
Marzouk, CFA, Senior Managing Director and Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2011) |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Management
Fee1 |
% | % | % | % | ||||||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||||||
Total
Annual Fund Operating Expenses |
% | % | % | % | ||||||||||||
Less
Fee Waiver2 |
% | % | % | % | ||||||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % | % |
1 | The
Management Fee consists of an Advisory and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.60% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.10% for Class A, Class C and Class I-2 and 0.05% for Class I of the
average net assets of the
class. |
2 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ | ||||||||||||
|
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ |
• | Debt Securities Risk: Debt securities and other debt instruments are subject to many risks, including interest rate risk and credit risk, which may affect their value. The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Federal Reserve policy in response to market conditions may adversely affect the value, volatility and liquidity of debt securities. |
• | Credit Risk: An issuer or guarantor of a debt instrument might be unable or unwilling to meet its financial obligations and might not make interest or principal payments on an instrument when those payments are due (“default”). The risk of a default is higher for debt instruments that are non-investment grade and lower for debt instruments that are of higher quality. Defaults may potentially reduce the Fund’s income or ability to recover amounts due and may reduce the value of the debt instrument, sometimes dramatically. |
• | High Yield/High Risk or “Junk” Securities Risk: High yield/high risk securities are typically issued by companies that are highly leveraged, less creditworthy, or financially distressed and are considered to be mostly speculative in nature (high risk), subject to greater liquidity risk, and subject to a greater risk of default than higher rated securities. High yield/high risk securities (including loans) may be more volatile than investment grade securities. |
• | Liquidity Risk: Certain holdings may be difficult to purchase, sell and value, particularly during adverse market conditions, because there is a limited market for the investment or there are restrictions on resale. The Fund may not be able to sell a holding quickly at the price it has valued the holding, may be unable to take advantage of market opportunities or may be forced to sell other more desirable, more liquid securities or sell less liquid or illiquid securities at a loss if needed to raise cash to conduct operations, including to meet redemption requests. This risk may be particularly pronounced with respect to small-capitalization companies. |
• | Active Management Risk: A portfolio manager’s judgments about the potential value or price appreciation of an investment may prove to be incorrect or fail to have the intended results, which could negatively impact the Fund’s performance. |
• | Floating Rate Loan Risk: Floating rate loans (or bank loans) are usually rated below investment grade and thus are subject to high yield/high risk or “junk” securities risk. The market for floating rate loans is a private interbank resale market and thus may be subject to irregular trading activity, wide bid/ask spreads, and delayed settlement periods. Purchases and sales of loans are generally subject to contractual restrictions that must be fulfilled before a loan can be bought or sold. These restrictions may hamper the Fund’s ability to buy or sell loans and negatively affect the transaction price. A significant portion of the floating rate loans held by the Fund may be “covenant lite” loans that contain fewer or less restrictive constraints on the borrower or other borrower-friendly characteristics and offer less protections for investors than covenant loans. It may take longer than seven days for transactions in loans to settle. This may result in cash proceeds not being immediately available to the Fund, requiring the Fund to borrow cash which would increase the Fund’s expenses. The Fund is also subject to credit risk with respect to the issuer of the loan. Investments in junior loans involve a higher degree of overall risk. |
• | Foreign Markets Risk: Exposure to a foreign market through investments in foreign issuers (companies or other entities) can involve additional risks relating to market, economic, political, regulatory, geopolitical, or other conditions of that market. These factors can make investments in foreign issuers more volatile and less liquid than U.S. investments. Less stringent regulatory, accounting, and disclosure requirements and general supervision for issuers and markets are more common in certain foreign countries. Enforcing legal rights can be difficult, costly, and slow in certain foreign countries, and can be particularly difficult against foreign governments. In addition, foreign markets can react differently to these conditions than the U.S. market. Markets and economies throughout the world are becoming increasingly interconnected, and conditions or events in one market, country or region may adversely impact investments or issuers in, or foreign exchange rates with, another market, country, or region. |
• | Interest Rate Risk: The value of debt instruments may fall when interest rates rise. Debt instruments with longer durations tend to be more sensitive to changes in interest rates, making them more volatile than debt instruments with shorter durations or floating or adjustable interest rates. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also may be low, and the Fund may experience low or negative returns. The Fund may be subject to heightened levels of interest rate risk because the Federal Reserve has raised, and may continue to raise, interest rates. As interest rates rise, the value of fixed income investments will generally decrease. |
• | LIBOR Transition Risk: Certain investments in which the Fund invests rely in some manner on the London Interbank Offered Rate (“LIBOR”). LIBOR is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market as determined by ICE Benchmark Administration (“IBA”), the administrator of LIBOR. Previously, the Financial Conduct Authority (“FCA”), which regulates financial markets and financial services firms in the United Kingdom, announced that it will no longer compel the banks to continue to submit the daily rates for the calculation of LIBOR after 2021 and warned that LIBOR may cease to be available or appropriate for use beyond 2021. Additionally, the FCA have announced that a majority of U.S. dollar (“USD”) LIBOR settings will cease to be published by the IBA or any other administrator or will no longer be representative after June 30, 2023. |
• | Underlying Fund Risk: Because the Fund is available for investment by one or more “fund of funds” of the Trust and thus may have a significant percentage of its outstanding shares held by such fund of funds, a change in asset allocation by the fund of funds could result in large redemptions out of the Fund, causing the sale of securities in a short timeframe and potential increases in expenses to the Fund and its remaining shareholders, both of which could negatively impact performance. |
|
1 year | 5 years | 10 years | Since Inception |
||||||||||||
Class
I (incepted |
( |
%) | % | % | ||||||||||||
Class
I (after taxes on
distributions) |
( |
%) | ( |
%) | % | |||||||||||
Class
I (after taxes on distributions and sale
of Fund shares) |
( |
%) | % | % | ||||||||||||
Class
A (incepted |
( |
%) | % | % | ||||||||||||
Class
C (incepted |
( |
%) | % | % | ||||||||||||
Class
I-2 (incepted |
( |
%) | % | % | ||||||||||||
Bloomberg
US High-Yield 2% Issuer Capped Bond Index (reflects no deductions for fees, expenses, or
taxes) (based on Class I inception date) |
( |
%) | % | % |
Portfolio
Manager and Primary Title with Sub-Adviser |
Experience
with Fund | |
Brian
M. Robertson, CFA, Senior Managing Director and
Portfolio
Manager |
Since
2023
(with
Predecessor Fund since 2011) | |
C.
Robert Boyd, Senior Managing Director, Head of Credit Research and
Portfolio Manager |
Since
2023
(with
Predecessor Fund since 2014) |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
Management
Fee1 |
% | % | % | % | ||||||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||||||
Total
Annual Fund Operating Expenses |
% | % | % | % | ||||||||||||
Less
Fee Waiver2 |
% | % | % | % | ||||||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % | % |
1 | The
Management Fee consists of an Advisory and a Supervision and
Administration Fee paid to Aristotle Investment Services, LLC. The
Advisory Fee is borne by the Fund at the same annual rate for all share
classes of 0.70% of the average net assets. The Supervision and
Administration Fee is borne separately by each class at an annual rate of
0.20% for Class A, Class C and Class I-2, and 0.15% for Class I of
the net average assets of the
class. |
2 | Aristotle
Investment Services, LLC has contractually agreed, through |
|
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ | ||||||||||||
|
||||||||||||||||
Share Class | ||||||||||||||||
A | C | I | I-2 | |||||||||||||
1
year |
$ | $ | $ | $ | ||||||||||||
3
years |
$ | $ | $ | $ | ||||||||||||
5
years |
$ | $ | $ | $ | ||||||||||||
10
years |
$ | $ | $ | $ |
• | Equity Securities Risk: Equity securities tend to go up and down in value, sometimes rapidly and unpredictably. An equity security’s market value may decline for a number of reasons that relate to particular issuer, such as management performance, financial leverage, reduced demand for the issuer’s products or services, or as a result of factors that affect the issuer’s industry or market more broadly, such as labor shortages, increased production costs, or competitive conditions within an industry. |
• | Mid-Capitalization Companies Risk: Mid-capitalization companies may be subject to greater price volatility and may be more vulnerable to economic, market and industry changes than larger, more established companies. |
• | Small-Capitalization Companies Risk: Small-capitalization companies may be more susceptible to liquidity risk and price volatility and be more vulnerable to economic, market and industry changes than larger, more established companies. |
• | Active Management Risk: A portfolio manager’s judgments about the potential value or price appreciation of an investment may prove to be incorrect or fail to have the intended results, which could negatively impact the Fund’s performance. |
• | Growth Companies Risk: Growth companies are those that a portfolio manager believes have the potential for above average or rapid growth but may be subject to greater price volatility than investments in “undervalued” companies. |
• | Liquidity Risk: Certain holdings may be difficult to purchase, sell and value, particularly during adverse market conditions, because there is a limited market for the investment or there are restrictions on resale. The Fund may not be able to sell a holding quickly at the price it has valued the holding, may be unable to take advantage of market opportunities or may be forced to sell other more desirable, more liquid securities or sell less liquid or illiquid securities at a loss if needed to raise cash to conduct operations, including to meet redemption requests. This risk may be particularly pronounced with respect to small-capitalization companies. |
• | Value Companies Risk: Value companies are those that a portfolio manager believes are undervalued and trading for less than their intrinsic values. There is a risk that the determination that a stock is undervalued is not correct or is not recognized in the market. |
Average
Annual Total Returns |
1 year | 5 years | Since Inception |
|||||||||
Class
I-2 (before taxes) |
( |
%) | % | % | ||||||||
Class
I-2 (after taxes on
distributions) |
( |
%) | % | % | ||||||||
Class
I-2 (after taxes on distributions and
sale of Fund shares) |
( |
%) | % | % | ||||||||
Class
A (before taxes) |
( |
%) | % | % | ||||||||
Class
C (before taxes) |
( |
%) | % | % | ||||||||
Class
I (before taxes) |
( |
%) | % | % | ||||||||
Russell
2500 Index (reflects no deductions for
fees, expenses or taxes) (based on |
( |
%) | % | % |
Portfolio
Manager and Primary Title with Sub-Adviser |
Experience with Fund |
|||
David
M. Adams, CFA, Principal, CEO and Portfolio Manager |
Since 2023 | |||
Jack
McPherson, CFA, Principal, President and Portfolio Manager |
Since 2023 |
Share Class | ||||||||||||||||||||
A | C | I | R6 | I-2 | ||||||||||||||||
Maximum
Sales Charge (load) imposed on purchases (as a percentage of offering
price) |
% | |||||||||||||||||||
Maximum
Deferred Sales Charge (load) (as a percentage of the purchase price or
redemption price, whichever is less) |
% |
Share Class | ||||||||||||||||||||
A | C | I | R6 | I-2 | ||||||||||||||||
Management
Fee1 |
% | % | % | % | % | |||||||||||||||
Distribution
(12b-1) and/or Service Fee |
% | % | ||||||||||||||||||
Total
Annual Fund Operating Expenses |
% | % | % | % | % | |||||||||||||||
Less
Fee Waiver2 |
% | % | % | % | % | |||||||||||||||
Total
Annual Fund Operating Expenses after Fee Waiver |
% | % | % | % | % |
1 |
2 |
|
||||||||||||||||||||
Share Class | ||||||||||||||||||||
A | C | I | R6 | I-2 | ||||||||||||||||
1
year |
$ | $ | $ | $ | $ | |||||||||||||||
3
years |
$ | $ | $ | $ | $ | |||||||||||||||
5
years |
$ | $ | $ | $ | $ | |||||||||||||||
10
years |
$ | $ | $ | $ | $ |
|
||||||||||||||||||||
Share Class | ||||||||||||||||||||
A | C | I | R6 | I-2 | ||||||||||||||||
1
year |
$ | $ | $ | $ | $ | |||||||||||||||
3
years |
$ | $ | $ | $ | $ | |||||||||||||||
5
years |
$ | $ | $ | $ | $ | |||||||||||||||
10
years |
$ | $ | $ | $ | $ |
• | Equity Securities Risk: Equity securities tend to go up and down in value, sometimes rapidly and unpredictably. An equity security’s market value may decline for a number of reasons that relate to particular issuer, such as management performance, financial leverage, reduced demand for the issuer’s products or services, or as a result of factors that affect the issuer’s industry or market more broadly, such as labor shortages, increased production costs, or competitive conditions within an industry. |
• | Small-Capitalization Companies Risk: Small-capitalization companies may be more susceptible to liquidity risk and price volatility and be more vulnerable to economic, market and industry changes than larger, more established companies. |
• | Active Management Risk: A portfolio manager’s judgments about the potential value or price appreciation of an investment may prove to be incorrect or fail to have the intended results, which could negatively impact the Fund’s performance. |
• | Value Companies Risk: Value companies are those that a portfolio manager believes are undervalued and trading for less than their intrinsic values. There is a risk that the determination that a stock is undervalued is not correct or is not recognized in the market. |
• | Liquidity Risk: Certain holdings may be difficult to purchase, sell and value, particularly during adverse market conditions, because there is a limited market for the investment or there are restrictions on resale. The Fund may not be able to sell a holding quickly at the price it has valued the holding, may be unable to take advantage of market opportunities or may be forced to sell other more desirable, more liquid securities or sell less liquid or illiquid securities at a loss if needed to raise cash to conduct operations, including to meet redemption requests. This risk may be particularly pronounced with respect to small-capitalization companies. |
• | Growth Companies Risk: Growth companies are those that a portfolio manager believes have the potential for above average or rapid growth but may be subject to greater price volatility than investments in “undervalued” companies. |
Average
Annual Total Returns |
1 year | 5 years | Since Inception |
|||||||||
Class
I-2 (before taxes) |
( |
%) | % | % | ||||||||
Class
I-2 (after taxes on
distributions) |
( |
%) | % | % | ||||||||
Class
I-2 (after taxes on distributions and
sale of Fund shares) |
( |
%) | % | % | ||||||||
Class
A (before taxes) |
( |
%) | % | % | ||||||||
Class
C (before taxes) |
( |
%) | % | % | ||||||||
Class
R6 (before taxes) |
( |
%) | % | % | ||||||||
Russell
2500 Index (reflects no deductions for
fees, expenses, or taxes) (based on |
( |
%) | % | % |
Portfolio Manager and Primary Title with Sub-Adviser | Experience with Fund |
|||
David
M. Adams, CFA, Principal, CEO and Portfolio Manager |
Since 2023 | |||
Jack
McPherson, CFA, Principal, President and Portfolio Manager |
Since 2023 |
Portfolio Optimization Conservative |
Portfolio Optimization Moderate Conservative |
Portfolio Optimization Moderate |
Portfolio Optimization Growth |
Portfolio Optimization Aggressive Growth | ||||||
Principal
Risk | ||||||||||
Active
Management Risk |
● | ● | ● | ● | ● | |||||
Convertible
Securities Risk |
● | ● | ● | |||||||
Credit
Risk |
● | ● | ● | ● | ● | |||||
Currency
Risk |
● | ● | ● | ● | ● | |||||
Debt
Securities Risk |
● | ● | ● | ● | ● | |||||
Emerging
Markets Risk |
● | ● | ● | ● | ● | |||||
Equity
Securities Risk |
● | ● | ● | ● | ● | |||||
Financial
Sector Risk |
● | ● | ● | ● | ● | |||||
Floating
Rate Loan Risk |
● | ● | ● | |||||||
Foreign
Markets Risk |
● | ● | ● | ● | ● | |||||
Geographic
Focus Risk |
● | ● | ● | ● | ● | |||||
Growth
Companies Risk |
● | ● | ● | ● | ● | |||||
High
Yield/High Risk or “Junk” Securities Risk |
● | ● | ● | ● | ||||||
Inflation-Indexed
Debt Securities Risk |
● | ● | ||||||||
Interest
Rate Risk |
● | ● | ● | ● | ● | |||||
Large-Capitalization
Companies Risk |
● | ● | ● | ● | ● | |||||
Leverage
Risk |
● | ● | ● | ● | ● | |||||
LIBOR
Transition Risk |
● | ● | ● | ● | ||||||
Liquidity
Risk |
● | ● | ● | ● | ● | |||||
Mid-Capitalization
Companies Risk |
● | ● | ● | ● | ● | |||||
Mortgage-Related
and Other Asset-Backed Securities Risk |
● | ● | ● | ● | ● | |||||
Small-Capitalization
Companies Risk |
● | ● | ● | |||||||
Underlying
Fund Risk |
● | ● | ● | ● | ● | |||||
U.S.
Government Securities Risk |
● | ● | ● | ● | ● | |||||
Value
Companies Risk |
● | ● | ● | ● | ● |
• Active
Management Risk |
• Interest
Rate Risk | |
• Credit
Risk |
• Liquidity
Risk | |
• Debt
Securities Risk |
• Mortgage-Related
and Other Asset-Backed Securities Risk | |
• Financial
Sector Risk |
• U.S.
Government Securities Risk | |
• Foreign
Markets Risk |
• Active
Management Risk |
• High
Yield/High Risk or “Junk” Securities Risk | |
• Credit
Risk |
• Interest
Rate Risk | |
• Debt
Securities Risk |
• LIBOR
Transition Risk | |
• Financial
Sector Risk |
• Liquidity
Risk | |
• Floating
Rate Loan Risk |
• Mortgage-Related
and Other Asset-Backed Securities Risk | |
• Foreign
Markets Risk |
• U.S.
Government Securities Risk |
• Active
Management Risk |
• Interest
Rate Risk | |
• Credit
Risk |
• LIBOR
Transition Risk | |
• Debt
Securities Risk |
• Liquidity
Risk | |
• Floating
Rate Loan Risk |
• Mortgage-Related
and Other Asset-Backed Securities Risk | |
• Foreign
Markets Risk |
• Underlying
Fund Risk | |
• High
Yield/High Risk or “Junk” Securities Risk |
• U.S.
Government Securities Risk |
• Active
Management Risk |
• Foreign
Markets Risk | |
• Credit
Risk |
• Interest
Rate Risk | |
• Debt
Securities Risk |
• LIBOR
Transition Risk | |
• ESG
Criteria Risk |
• Mortgage-Related
and Other Asset-Backed Securities Risk | |
• Financial
Sector Risk |
• U.S.
Government Securities Risk |
• Active
Management Risk |
• Foreign
Markets Risk | |
• Convertible
Securities Risk |
• High
Yield/High Risk or “Junk” Securities Risk | |
• Credit
Risk |
• Interest
Rate Risk | |
• Currency
Risk |
• LIBOR
Transition Risk | |
• Debt
Securities Risk |
• Liquidity
Risk | |
• Equity
Securities Risk |
• Mortgage-Related
and Other Asset-Backed Securities Risk | |
• Floating
Rate Loan Risk |
• U.S.
Government Securities Risk |
• Active
Management Risk |
• High
Yield/High Risk or “Junk” Securities Risk | |
• Credit
Risk |
• Interest
Rate Risk | |
• Debt
Securities Risk |
• LIBOR
Transition Risk | |
• Floating
Rate Loan Risk |
• Liquidity
Risk | |
• Foreign
Markets Risk |
• Underlying
Fund Risk |
• Active
Management Risk |
• High
Yield/High Risk or “Junk” Securities Risk | |
• Credit
Risk |
• Interest
Rate Risk | |
• Debt
Securities Risk |
• LIBOR
Transition Risk | |
• Floating
Rate Loan Risk |
• Liquidity
Risk | |
• Foreign
Markets Risk |
• Underlying
Fund Risk |
• Active
Management Risk |
• Mid-Capitalization
Companies Risk | |
• Equity
Securities Risk |
• Small-Capitalization
Companies Risk | |
• Growth
Companies Risk |
• Value
Companies Risk | |
• Liquidity
Risk |
• Active
Management Risk |
• Liquidity
Risk | |
• Equity
Securities Risk |
• Small-Capitalization
Companies Risk | |
• Growth
Companies Risk |
• Value
Companies Risk |
• |
Active Management Risk: A portfolio
manager’s judgments about the potential value or price appreciation of an
investment may prove to be incorrect or fail to have the intended results,
which could negatively impact a Fund’s performance and cause it to
underperform relative to other funds with similar investment goals or
relative to its benchmark, or not to achieve its investment goal. A
portfolio manager’s investment strategies are also discretionary and there
can be no assurance that their investment strategies will be advantageous
for a Fund. From time to time, the activities of a portfolio manager’s
firm (and/or its affiliates) may be limited because of regulatory
restrictions and/or their own internal policies or market, liquidity or
other issues which may limit the investment opportunities for a Fund
managed by such firm. Investments held for cash management or temporary
defensive investing purposes can fluctuate in value and are subject to
risk, including market and regulatory, interest rate and credit risks.
Uninvested cash will be subject to the credit risk of the depositary
institution holding the cash, in which case it is possible that no income
would be earned on the cash and yield would go down. If significant assets
are used for cash management or defensive investing purposes, investment
goals may not be met. |
• |
Asset
Allocation Fund of Funds Risk: As a fund of funds, a Fund is
exposed to the same risks as the Underlying Funds in which it invests in
direct proportion to its allocations to those Underlying Funds. Although
the theory behind asset allocation is that diversification among asset
classes in general can help reduce volatility over the long term, this
theory assumes that asset classes do not move in tandem and that positive
returns in one asset class will help offset negative returns in another
asset class. You still may lose money if this theory proves incorrect
and/or experience price volatility. Because an Underlying Fund’s
investments can change due to market movements, the Underlying Fund
Manager’s investment decisions or other factors, the sub-adviser estimates
each Underlying Fund’s investment exposures to determine a Fund’s
allocations to the Underlying Fund. As a result, a Fund’s actual
allocation to an Underlying Fund, as applicable, may deviate from the
intended allocation, which could result in the Fund’s risk/return target
not being met. Performance of and assumptions about asset classes and
Underlying Funds may also diverge from historical performance and
assumptions used to develop the allocations in light of actual market
conditions. There is a risk that you could achieve better returns by
investing in an individual fund or funds representing a single broad asset
class or asset class category rather than investing in a fund of funds.
Fund shareholders also bear indirectly their proportionate share of the
expenses of the respective Underlying Fund in which the Fund
invests. |
• |
Conflicts
of Interest Risk: The investment adviser and sub-adviser are
subject to competing interests that have the potential to influence
investment decisions for the Fund. With respect to retaining new Managers
for Underlying Funds, if an affiliate of the investment adviser has
investment advisory capabilities in investment strategies used or to be
used by an Underlying Fund, then the investment adviser may be influenced
to recommend its affiliate as Manager of that Underlying Fund. With
respect to Underlying Funds already managed by an affiliate of the
investment adviser, these competing interests may influence the investment
adviser with regard to remedial measures that it might recommend in the
event such a Fund was underperforming. For example, in the case of an
underperforming Underlying Fund managed by an affiliate of the investment
adviser, the investment adviser may be influenced to recommend the pursuit
of remedial measures other than replacement of its affiliate as a Manager
of the Fund and to pursue such remedial measures for a longer period of
time than might be the case if the Underlying Fund were managed by an
unaffiliated Manager. In addition, the sub-adviser may be influenced by
its or the investment adviser’s view of the best interests of Underlying
Funds, such as a view that an Underling Fund may benefit from additional
assets or could be harmed by redemptions. The sub-adviser has adopted a
policy under which investment decisions for the Fund must be made in the
best interests of the Fund and its shareholders, and the sub-adviser may
not take into account the interests of an Underlying Fund and its
shareholders when making investment decisions for the
Fund. |
• |
Convertible Securities Risk: Convertible securities are generally
subject to the risks of stocks when the underlying stock price is high
relative to the conversion price (because the conversion feature is more
valuable) and to the risks of debt securities when the underlying stock
price is low relative to the conversion price (because the conversion
feature is less valuable). Convertible securities are also generally
subject to credit risk, as they tend to be of lower
credit quality, and interest rate
risk, though they generally are not as sensitive to interest rate
changes as conventional debt securities. A convertible security’s value
also tends to increase and decrease with the underlying stock and
typically has less potential for gain or loss than the underlying
stock. |
• |
Credit
Risk: An issuer or guarantor
of a debt instrument might be unable or unwilling to meet its financial
obligations and might not make interest or principal payments on an
instrument when those payments are due (“default”). The risk of a default
is higher for debt instruments that are non-investment grade and lower for
debt instruments that are of higher quality. Defaults may potentially
reduce a Fund’s income or ability to recover amounts due and may reduce
the value of the debt instrument, sometimes dramatically. The credit
quality of securities can change rapidly in certain market environments,
particularly during volatile markets or periods of economic uncertainty or
downturn, and the default of a single holding could cause significant NAV
deterioration. A debt security’s issuer (or a borrower or counterparty to
a repurchase agreement or reverse repurchase agreement) may not be able to
meet its financial obligations (e.g., may not be able to make principal
and/or interest payments when they are due or otherwise default on other
financial terms) and/or may go bankrupt. This is also sometimes described
as counterparty risk. |
Credit
Ratings Chart | ||||||||
Long-term ratings |
Standard
& Poor’s1,3 |
Moody’s2 |
Fitch1,3 | |||||
Investment grade debt categories | AAA | Aaa | AAA | |||||
AA | Aa | AA | ||||||
A | A | A | ||||||
BBB | Baa | BBB | ||||||
Non-investment
grade debt
(sometimes
called “junk bonds”) categories |
BB | Ba | BB | |||||
B | B | B | ||||||
CCC | Caa | CCC | ||||||
CC | Ca | CC | ||||||
C | C | C | ||||||
D | — | — | ||||||
Short-term ratings | Highest three ratings | A-1 | P-1 | F1 | ||||
A-2 | P-2 | F2 | ||||||
A-3 | P-3 | F3 | ||||||
Other ratings | B | NP | B | |||||
B-1 | C | |||||||
B-2 | RD | |||||||
B-3 | D | |||||||
C | ||||||||
D |
1 |
Long-term
ratings by Standard & Poor’s and Fitch from ‘AA’ to ‘CCC’ may be
modified by the addition of a plus (+) or minus (-) sign to show
relative standing within the major rating categories. For example, BBB- is
the lowest investment grade; BB+ is the highest non-investment
grade. |
2 |
Moody’s
adds numerical modifiers 1, 2, and 3 to each generic bond rating
classification from ‘Aa’ through ‘Caa’. The modifier 1 indicates that the
obligation ranks in the higher end of its generic rating category; the
modifier 2 indicates a mid-range ranking; and the modifier 3 indicates a
ranking in the lower end of that generic rating category. For example,
Baa3 is the lowest investment grade; Ba1 is the highest non-investment
grade. |
3 |
Short-term
ratings within the A-1 and F1 categories may be designated with a plus
sign (+). This indicates that the obligor’s capacity to meet its financial
commitment on these obligations is extremely
strong. |
• |
Currency Risk: Currencies and securities
denominated in foreign currencies may be affected by changes in exchange
rates between those currencies and the U.S. dollar. Currency exchange
rates may be volatile and may fluctuate in response to interest rate
changes, the general economic conditions of a country, the actions of the
U.S. and foreign governments, central banks, or supranational entities
such as the International Monetary Fund, the imposition or removal of
currency controls, other political or regulatory conditions in the U.S. or
abroad, speculation, or other factors. A decline in the value of a foreign
currency relative to the U.S. dollar reduces the value in U.S. dollars of
a Fund’s investments denominated in or with exposure to that foreign
currency. For Funds that may hold short currency exposure, an appreciation
in the value of the currency shorted would incur a loss for the Fund. As a
currency control, certain countries aim to fix (or “peg” or “manage”) the
exchange rates of their currencies against other countries’ currencies
(the reference currency), rather than allowing them to fluctuate based on
market forces. A pegged currency typically has a very narrow band of
fluctuation (or a completely fixed rate) against the value of its
reference currency and, as a result, may experience sudden and significant
decline in value if the reference currency also declines in value. A
managed currency establishes minimum exchange rates against its reference
currency and, as a result, is not allowed to fall below a certain level
against the reference currency but can rise above the reference currency’s
value. There is no guarantee that these currency controls will remain in
place and if these exchange rates were allowed to fluctuate based on
market forces (for instance, a currency is “de-pegged” against its
reference currency), there can be large losses as a result of exchange
rates movements, which may adversely impact a Fund’s returns. In addition,
the use of foreign exchange contracts (such as forward foreign currency
contracts) to reduce foreign currency exposure can eliminate some or all
of the benefit of an increase in the value of a foreign currency versus
the U.S. dollar. Foreign currency values can decrease significantly both
in the short term and over the long term in response to these and other
conditions. |
• |
Debt Securities Risk: Debt securities and
other debt instruments are subject to many risks, including but not
limited to interest rate risk
and credit risk, which may
affect their value. Many debt securities give the issuer the right to
redeem (“call”) the security prior to maturity. If an issuer calls a
security in which a Fund has invested, the Fund may not recoup the full
amount of its initial investment in the security and may be forced to
reinvest prepayment proceeds at a time when yields on securities available
in the market are lower than the yield on the called security. The market
value of a fixed-income security may decline due to general market
conditions that are not specifically related to a particular company. The
fixed-income securities market can be susceptible to increases in
volatility and decreases in liquidity. Federal Reserve policy in response
to market conditions may adversely affect the value, volatility and
liquidity of debt securities. |
• |
Equity Securities Risk: Stock markets are
volatile. Equity securities tend to go up and down in value, sometimes
rapidly and unpredictably, in response to many factors, including a
company’s historical and prospective earnings, the value of its assets,
general economic conditions, interest rates, investor perceptions and
market liquidity. Income from equity securities may be reduced by changes
in the dividend policies of issuers and there is no guarantee that issuers
will distribute dividends in the future or that dividends will remain at
current levels or increase over time. Due to the complexities of markets,
events in one market or sector may adversely impact other markets or
sectors. An equity security’s market value may decline for a number of
reasons that relate to particular issuer, such as management performance,
financial leverage, reduced demand for the issuer’s products or services,
or as a result of factors that affect the issuer’s industry or market more
broadly, such as labor shortages, increased production costs, or
competitive conditions within an industry. |
• |
ESG Criteria Risk: The sub-adviser’s
consideration of ESG Criteria in its investment process could cause a Fund
to forgo investment opportunities available to funds not using these
criteria and underperform such funds. The sub-adviser’s determination of
what constitutes ESG Criteria and its process to evaluate the ESG Criteria
may differ from other investment advisers. Further, there can be no
assurance that the ESG Criteria utilized by the sub-adviser or any
judgment exercised by the sub-adviser will reflect the beliefs or values
of any particular investor. An independent third-party ESG data provider’s
assessment of the financial materiality of ESG factors could be
inaccurate, and the provider could delay ESG data delivery and evaluation
(e.g., changing geo-political
risks that may impact involvement in one or more excluded activity), which
may have an adverse impact on the Fund’s performance or cause the Fund to
hold a security that might be ranked low from an environmental, social or
governance perspective, or its methodology could be based on a methodology
or perspective different from another provider’s. Because the
methodologies for providers are different, if one of the third-party ESG
data providers were to be replaced, the Fund’s portfolio could look
different. Application of the ESG Criteria may also affect the Fund’s
exposure to certain sectors or types of investments and may impact the
Fund’s relative investment performance depending on whether such sectors
or investments are in or out of favor in the market. Given that the ESG
Criteria is qualitative and subjective by nature, there can be no
assurance that the ESG Criteria utilized by the sub-adviser or any
judgment exercised by the sub-adviser will reflect the beliefs or values
of any particular investor. Given the subjective nature of ESG Criteria,
it is also possible that the ESG exclusions and metrics screens may not
always be effective in screening out all ESG issues that an issuer might
have. In addition, regulations and industry practices related to ESG are
evolving rapidly, and the sub-adviser’s practices may change if required
to comply with such regulations or adopt such
practices. |
• |
ETF Risk: Investing in an ETF will
provide a Fund with exposure to the securities comprising the index on
which the ETF is based and will expose the Fund to risks similar to those
of investing directly in those securities. Shares of ETFs typically trade
on securities exchanges and may at times trade at a premium or discount to
their NAVs. If the Fund has to sell shares of an ETF when the shares are
trading at a discount, the Fund will receive a price that is less than the
ETF’s net asset value per share. In addition, an ETF may not replicate
exactly the performance of the benchmark index it seeks to track for
several reasons, including transaction costs incurred by the ETF, the
temporary unavailability of certain index securities in the secondary
market or discrepancies between the ETF and the index with respect to the
weighting of securities or the number of securities held. An investment in
an ETF is an investment in another investment company and therefore, the
Fund’s shareholders will indirectly bear a proportionate share of any fees
and expenses of the ETFs in which the Fund invests. A Fund will pay
brokerage commissions in connection with the purchase and sale of shares
of ETFs. |
• |
Financial Sector Risk: Financial services
companies are subject to extensive governmental regulation, which may
limit both the amounts and types of loans and other financial commitments
they can make, and the interest rates and fees they can charge. The
profitability of financial services companies is largely dependent on the
availability and cost of capital funds and can fluctuate significantly
when interest rates change or as a result of increased competition. During
a general market downturn, numerous financial services companies may
experience substantial declines in the valuations of their assets, take
action to raise capital (such as the issuance of debt or equity
securities), or even cease operations. These actions may cause the
securities of a financial services company to experience dramatic declines
in value. Credit losses resulting from financial difficulties of borrowers
and financial losses associated with investment activities can negatively
impact the sector. |
• |
Floating Rate Loan Risk: Floating rate
loans (or bank loans) are usually rated below investment grade and thus
are subject to high yield/high risk or
“junk” securities risk. The market for floating rate loans is a
private interbank resale market and thus may be subject to irregular
trading activity, wide bid/ask spreads and delayed settlement periods,
which may result in cash proceeds not being immediately available to a
Fund. As a result, a Fund that invests in floating rate loans may be
subject to greater liquidity risk
than a Fund that does not. Funds that invest in floating rate loans take
steps to maintain adequate liquidity, such as borrowing cash under a line
of credit or other facility through their custodian bank; however, these
actions may increase expenses to a Fund (such as borrowing cost) or may
not always be adequate, particularly during periods of market stress.
Investments in floating rate loans are typically in the form of a
participation or assignment. Loan participations typically represent
direct participation in a loan to a borrower, and generally are offered by
financial institutions or lending syndicates. In a loan participation, a
Fund may participate in such syndications, or buy part of a loan, becoming
a part lender. In a loan participation, a Fund assumes the credit risk
associated with the borrower and may assume the credit risk associated
with the financial intermediary that syndicated the loan. If the lead
lender in a typical lending syndicate becomes insolvent, enters Federal
Deposit Insurance Corporation (“FDIC”) receivership or, if not FDIC
insured, enters into bankruptcy, a Fund may incur certain costs and delays
in receiving payment or may suffer a loss of principal and/or interest. In
addition, a Fund may not be able to control the exercise of remedies that
the lender would have under the loan and likely would not have any rights
against the borrower directly. In purchasing an assignment, a Fund
succeeds to all the rights and obligations under the loan agreement of the
assigning bank or other financial intermediary and becomes a lender under
the loan agreement with the same rights and obligations as the assigning
bank or other financial intermediary. Accordingly, if the loan is
foreclosed, a Fund could become part owner of any collateral, and would
bear the costs and liabilities associated with owning and disposing of the
collateral. |
• |
Foreign
Markets Risk: Investments in securities of foreign issuers and
securities of companies with significant foreign exposure, including
securities denominated in foreign currencies, can involve additional risks
relating to market, economic, political, regulatory, geopolitical, or
other conditions of the relevant foreign market. Political, social, and
economic instability, the impact of economic sanctions, the imposition of
currency or capital controls, or the expropriation or nationalization of
assets in a particular country can cause dramatic declines in a country’s
economy. Less stringent regulatory, accounting, and disclosure
requirements and general supervision for issuers and markets are more
common in certain foreign countries. Foreign countries may also have
different auditing standards than the U.S. Enforcing legal rights can be
difficult, costly, and slow in certain foreign countries, and can be
particularly difficult against foreign governments. If the United States
imposes economic sanctions against a foreign government or issuers, a
Fund’s investments in issuers subject to such sanctions may be frozen,
prohibiting the Fund from selling or otherwise transacting in these
investments, and a Fund may be prohibited from investing in such issuers
or may be required to divest its holdings in such issuers, which may
result in losses to the Fund. Additional risks of foreign investments
include trading, settlement, custodial, and other operational risks, and
withholding and other taxes. These factors can make investments more
volatile and less liquid than U.S. investments. In addition, foreign
markets can react differently to market, economic, political, regulatory,
geopolitical, or other conditions than the U.S. market. Markets and
economies throughout the world are becoming increasingly interconnected,
and conditions or events in one market, country or region may adversely
impact investments or issuers in, or foreign exchange rates with, another
market, country or region. Depositary receipts, including American
Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”),
Global Depositary Receipts (“GDRs”) and similar securities that represent
interests in a foreign (non-U.S.) company’s securities that have been
deposited with a bank or trust and that trade on a U.S. exchange or
over-the-counter are subject to the same risks of investments in emerging
market countries described above. In addition, these securities may be
less liquid or may trade at a lower price than the underlying securities
of the issuer. The underlying issuers of certain depositary receipts,
particularly unsponsored or unregistered depositary receipts, may not have
any obligation to distribute shareholder communications to the holders of
such receipts, or to pass through to them any voting rights with respect
to the deposited securities. |
• |
Geographic Focus Risk: If a Fund invests
a significant portion of its assets in a single country, limited number of
countries, or particular geographic region, then the risk increases that
economic, political, social, or other conditions in those countries or
that region will have a significant impact on the Fund’s performance. As a
result, the Fund’s performance may be more volatile than the performance
of more geographically diversified funds. |
• |
Growth
Companies Risk: Growth companies are those that a portfolio manager
believes have the potential for above average or rapid growth but may be
subject to greater price volatility than “undervalued” companies, for
example. A smaller company with a promising product and/or operating in a
dynamic field may have greater potential for rapid earnings growth than a
larger one. Additionally, many companies in certain market sectors like
health care and technology are faster-growing companies with limited
operating histories and greater business risks, and their potential
profitability may be dependent on regulatory approval of their products or
developments affecting those sectors, which increases the volatility of
these companies’ securities prices and could have an adverse impact upon
the companies’ future growth and profitability. |
• |
High
Yield/High Risk or “Junk” Securities Risk: High yield/high risk
securities are typically issued by companies or governments that are
highly leveraged, less creditworthy or financially distressed and are
considered to be mostly speculative in nature (high risk), subject to
greater liquidity risk due to
fewer market participants (buyers/sellers of these assets) and less
capital available to market makers (broker-dealers) as compared to higher
rated securities, and subject to a greater risk of default than higher
rated securities. High yield/high risk securities (including loans) may be
more volatile than investment grade securities. Non-investment grade debt
instruments may include securities that are stressed, distressed or in
default and are subject to credit
risk. |
• |
Interest
Rate Risk: The value of debt instruments may fall when interest
rates rise. Debt instruments with longer durations tend to be more
sensitive to changes in interest rates, making them more volatile than
debt instruments with shorter durations or floating or adjustable (also
known as variable) interest rates. Many factors can cause interest rates
to rise, such as central bank monetary policies, inflation rates, general
economic conditions, and expectations about the foregoing. In addition, as
interest rates rise, the value of fixed income investments will generally
decrease. The negative impact on debt instruments from interest rate
increases could be swift and significant, including falling market values,
increased redemptions and reduced liquidity. Substantial redemptions from
bond and other income funds may worsen that impact. Additionally,
regulations applicable to and changing business practices of
broker-dealers that make markets in debt instruments may result in those
broker-dealers restricting their market making activities for certain debt
instruments, which may reduce the liquidity and increase the volatility of
such debt instruments. Certain countries have experienced negative
interest rates on certain debt securities. Negative or very low interest
rates could magnify the risks associated with changes in interest rates.
In general, changing interest rates, including rates that fall below zero,
could have unpredictable effects on markets and may expose debt and
related markets to heightened volatility. During periods when interest
rates are low or there are negative interest rates, a Fund’s yield (and
total return) also may be low, and the Fund may experience low or negative
returns. A Fund may be subject to heightened levels of interest rate risk
because the Federal Reserve has raised, and may continue to raise,
interest rates. Floating or adjustable-rate instruments (such as most
loans) typically have less exposure to interest rate fluctuations and
their exposure to interest rate fluctuations will generally be limited to
the period of time until the interest rate on the security is reset. There
is a risk of lag in the adjustment of interest rates between the periods
when these interest rates are reset. An interest rate reset may not
completely offset changes in interest rates. Resets that may be tied to an
index may not reflect the prevailing interest rate changes. There is a
risk of a lag between interest rate and index
changes. |
• |
Large-Capitalization Companies Risk:
Large-capitalization companies tend to have more stable prices than small-
or mid-capitalization companies but are still subject to equity securities risk.
Large-capitalization equity security prices may not rise as much as prices
of equity securities of small-capitalization
companies. |
• |
Leverage
Risk: A Fund’s investment in forward commitments, futures
contracts, options, or swap agreements, including taking short positions
using certain derivatives, as a principal investment strategy gives rise
to a form of leverage. Leverage is investment exposure that exceeds the
initial amount invested. The loss on a leveraged investment may far exceed
a Fund’s principal amount invested. Leverage can magnify a Fund’s gains
and losses and therefore increase its volatility. There is no guarantee
that a Fund will use leverage, or when it does, that a Fund’s leveraging
strategy will be successful or produce a high return on an
investment. |
• |
LIBOR
Transition Risk: Certain investments in which the Fund invests rely
in some manner on the London Interbank Offered Rate (“LIBOR”). LIBOR is
intended to represent the rate at which contributing banks may obtain
short-term borrowings from each other in the London interbank market as
determined by ICE Benchmark Administration (“IBA”), the administrator of
LIBOR. Previously, the Financial Conduct Authority (“FCA”), which
regulates financial markets and financial services firms in the United
Kingdom, announced that it will no longer compel the banks to continue to
submit the daily rates for the calculation of LIBOR after 2021 and warned
that LIBOR may cease to be available or appropriate for use beyond 2021.
Additionally, the FCA have announced that a majority of U.S. dollar
(“USD”) LIBOR settings will cease to be published by the IBA or any other
administrator or will no longer be representative after June 30,
2023. On March 15, 2022, the Adjustable Interest Rate (LIBOR) Act was
signed into law in the U.S, and regulations implementing the law became
effective on February 27, 2023. This law provides a statutory
fallback mechanism on a nationwide basis to replace LIBOR with a benchmark
rate that is selected by the Board of Governors of the Federal Reserve
System and based on the Secured Overnight Financing Rate (which measures
the cost of overnight borrowings through repurchase agreement transactions
collateralized with U.S. Treasury securities) for certain contracts that
reference LIBOR and contain no, or insufficient, fallback
provisions. |
• |
Liquidity Risk: Generally, a security or
investment is considered illiquid if it is not reasonably expected to be
sold or disposed of in current market conditions within seven calendar
days or less without the sale or disposition significantly changing the
market value of the security. Certain holdings may be difficult to
purchase, sell and value, particularly during adverse market conditions,
because there is a limited market for the investment or there are
restrictions on resale. A Fund may not be able to sell a holding quickly
at the price it has valued the holding, may be unable to take advantage of
market opportunities or may be forced to sell other more desirable, more
liquid securities or sell less liquid or illiquid securities at a loss if
needed to raise cash to conduct operations, including to meet redemption
requests. Liquid investments may become less liquid or illiquid, and thus
more difficult to sell, over time or suddenly and unexpectedly. This may
occur, for example, as a result of adverse market or economic conditions
or investor perceptions, which may be independent of any adverse changes
to the particular issuer. Less liquidity also means that more subjectivity
may be used in establishing the value of the securities or other
investments. For example, if market quotations are not readily available
or reliable for these investments, the securities or other investments
will be valued by a method that reflects fair value. Valuations determined
in this manner may require subjective inputs about the value of these
investments. Some securities (such as loans) may have no active trading
market and may be subject to restrictions on resale. The markets in which
such securities trade may be subject to irregular trading, wide bid/ask
spreads and extended trade settlement periods, which may impair a Fund’s
ability to sell the holding at the price it has valued the holding causing
a decline in the Fund’s NAV. Investments in companies in turn-around,
distress or other similar situations may be or become less liquid than
other investments, particularly when the economy is not robust or during
market downturns. Reduced liquidity resulting from these situations may
impede a Fund’s ability to meet unusually high or unanticipated levels of
redemption requests. Each Fund may borrow money to the extent permitted
under the 1940 Act to meet redemption requests by Fund shareholders;
however, these actions may increase the expenses for a Fund (such as
borrowing cost) or may not always be adequate, particularly during periods
of market stress. Please see the discussion of Other Expenses under the Additional Information about Fees and
Expenses section in this
Prospectus. |
• |
Mid-Capitalization Companies Risk:
Mid-capitalization companies may be subject to greater price volatility
and may be more vulnerable to economic, market and industry changes than
larger, more established companies. Mid-capitalization (also known as
“medium capitalization”) companies may have a shorter history of
operations, more limited ability to raise capital, inexperienced
management, limited product lines, less capital reserves and liquidity and
more speculative prospects for future growth, sustained earnings or market
share than larger companies, and are therefore more sensitive to economic,
market and industry changes. It may be difficult to sell a
mid-capitalization position at an acceptable time and price because of the
potentially less frequent trading of stocks of mid-capitalization
companies. |
• |
Mortgage-Related and Other Asset-Backed
Securities Risk:
Mortgage-related and other asset-backed securities are subject to
certain risks. The value of these securities will be influenced by the
factors affecting the housing market or the market for the assets
underlying such securities. As a result, during periods of declining asset
value, difficult or frozen credit markets, swings in interest rates, or
deteriorating economic conditions, these securities may decline in value,
become difficult to value, become more volatile and/or become illiquid.
|
• |
Extension Risk – Generally, rising
interest rates tend to extend the duration of fixed rate mortgage-backed
or other asset-backed securities, making them more sensitive to changes in
interest rates and making any Fund holding such securities more volatile.
This is because when interest rates rise, the issuer of a security held by
a Fund may make principal payments on that security on a delayed basis.
Such delayed principal payments decrease the value of the security. In
addition, as payments are received later than agreed upon, a Fund may miss
or postpone the opportunity to reinvest in higher yielding
investments. |
• |
Interest Rate Risk – When interest rates
rise, borrowers with variable interest rate loans may not be able to repay
their loans at the higher interest rates. This could cause an increase in
defaults and decrease the value of certain mortgage-related or other
asset-backed securities. |
• |
Subprime Risk – Mortgage-related
securities may have exposure to subprime loans and subprime mortgages,
which are loans or mortgages made to borrowers with lower credit ratings.
An unexpectedly high rate of defaults on the mortgages held by a mortgage
pool may adversely affect the value of a mortgage-backed security. The
risk of such defaults is generally higher in the case of mortgage pools
that include subprime mortgages. In addition, holdings in non-investment
grade (high yield/high risk) asset-backed securities, including mortgage
pools with exposure to subprime loans or mortgages, have a greater risk of
being or becoming less liquid than other debt securities, especially when
the economy is not robust, during market downturns, or when credit is
tight. Other asset-backed securities may also be subject to exposure
resulting from loans to borrowers with lower credit ratings, who pose a
higher level of default risk. |
• |
Prepayment Risk – In addition,
adjustable and fixed rate mortgage-related or other asset-backed
securities are subject to prepayment risk. When interest rates decline,
borrowers may pay off their mortgages (or other debt obligations) sooner
than expected. This can reduce a Fund’s returns because it may have to
reinvest that money at the lower prevailing interest
rates. |
• |
Call
Risk – Similarly, debt obligations with call features have the risk
that an issuer will exercise the right to pay an obligation (such as a
mortgage-backed security) earlier than expected. This call risk typically
occurs when interest rates are declining. |
• |
U.S.
Government Securities Risk – Mortgage-backed securities may be
issued by the U.S. government, which are subject to U.S. government
securities risk. |
• |
Issuer
Risk – Mortgage-backed securities offered by non-governmental
issuers, such as commercial banks, savings and loan institutions, private
mortgage insurance companies, mortgage bankers and other secondary market
issuers are subject to additional risks. Timely payment of interest and
principal of non-governmental issuers is supported by various forms of
private insurance or guarantees, including individual loan, title, pool
and hazard insurance purchased by the issuer, and there can be no
assurance that these private insurers can meet their obligations under the
policies. |
• |
Stripped Mortgage-Related Securities
Risk – Stripped mortgage-related securities can be particularly
sensitive to changes in interest rates. Stripped mortgage-related
securities are made up of Interest Only (“IO”) and Principal Only (“PO”)
components. IOs present a heightened risk of total loss of
investment. |
• |
Small-Capitalization Companies Risk:
Small-capitalization companies may be more susceptible to liquidity risk and price volatility and
be more vulnerable to economic, market and industry changes than larger,
more established companies. Small-capitalization companies may have fewer
financial resources, limited product and market diversification, greater
potential for volatility in earnings and business prospects, and greater
dependency on a few key managers. Small-capitalization companies,
particularly those in their developmental stages, may have a shorter
history of operations, more limited ability to raise capital,
inexperienced management, and more speculative prospects for future growth
or sustained earnings or market share than larger companies. In addition,
these companies may be more susceptible to the underperformance of a
sector in which it belongs and therefore, may be riskier and more
susceptible to price changes. It may be difficult or impossible to
liquidate a small-capitalization position at an acceptable time and price
because of the potentially less frequent trading of stocks of smaller
market capitalizations. |
• |
Underlying Fund Risk: Because a Fund is
available for investment by the Portfolio Optimization Funds and thus may
have a significant percentage of its outstanding shares held by a
Portfolio Optimization Fund, a change in asset allocation by a Portfolio
Optimization Fund could result in large redemptions out of a Fund, causing
the sale of securities in a short timeframe and potential increases in
expenses to a Fund and its remaining shareholders, both of which could
negatively impact performance. |
• |
U.S.
Government Securities Risk: Not all U.S. government securities are
backed or guaranteed by the U.S. government and different U.S. government
securities are subject to varying degrees of credit risk. There is a risk that the
U.S. government will not make timely payments on its debt or provide
financial support to U.S. government agencies, instrumentalities, or
sponsored enterprises if those entities are not able to meet their
financial obligations. Some U.S. government securities are supported only
by the credit of the issuing agency, which depends entirely on its own
resources to repay the debt. Although there are many types of U.S.
government securities, such as those issued by the Federal National
Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage
Corporation (“Freddie Mac”) and Federal Home Loan Banks that may be
chartered or sponsored by Acts of Congress, their securities are neither
issued nor guaranteed by the U.S. Treasury and, therefore, are not backed
by the full faith and credit of the United States. The maximum potential
liability of the issuers of some U.S. government securities may greatly
exceed their current resources, including their legal right to support
from the U.S. Treasury. It is possible that these issuers will not have
the funds to meet their payment obligations in the future. Pursuant to the
authorities of the U.S. Treasury Department and the Federal Housing
Finance Administration (“FHFA”), Fannie Mae and Freddie Mac have been in a
conservatorship under FHFA since September 2008. Should Fannie Mae and
Freddie Mac exit the conservatorship, the effect this will have on the
entities’ debt and equities, and on securities guaranteed by the entities,
is unclear. |
• |
Value
Companies Risk: Value companies are those that a portfolio manager
believes are undervalued and trading for less than their intrinsic values.
There is a risk that the determination that a stock is undervalued is not
correct or is not recognized in the market. These companies may be subject
to lower price volatility than companies considered to be “growth”
companies. In value investing, the principal belief is that the market
overreacts to good and bad news, resulting in stock price movements that
do not correspond with a company’s long-term fundamentals. In that case,
the result is an opportunity for value investors to profit by buying when
the price is deflated. However, the intrinsic value of a company is
subjective, meaning there is no empirically “correct” intrinsic value. A
portfolio manager’s processes for determining value will vary. There is a
risk that a portfolio manager’s determination that a stock is undervalued
is not correct or is not recognized in the
market. |
• |
Active
and Frequent Trading Risk: All Funds may engage in active and frequent
trading which could result in higher levels of current tax liability to
shareholders in the Fund. For Funds that operate as funds of funds,
purchases and sales of Underlying Fund shares may increase and therefore
taxes may be higher for these Funds’ shareholders when a Fund is
rebalanced or changes asset allocations, when Underlying Funds undergo
Manager changes, including adding a co-manager, or when Underlying Funds
are |
established
or liquidated, particularly if a large number of Underlying Fund shares
are bought or sold and there are capital gains realized as a result of the
transactions (assuming no offset by any realized capital losses). For
Funds that do not operate as funds of funds, including Underlying Funds,
active and frequent trading can result in higher trading costs as
well. |
• |
Cybersecurity Risk: The Funds’ and/or their service
providers’ use of the internet, technology and information systems may
expose the Funds to risks associated with attack, damage, or unauthorized
access. Such risks may include the theft, loss, ransom, misuse, improper
release, corruption and/or destruction of, manipulation of, or
unauthorized access to, confidential or restricted data relating to the
Funds or Fund shareholders, and the compromise, delay or failure of
systems, networks, devices and applications relating to Fund operations,
such as systems used to enter trades for the Funds’ investments,
accounting and valuation systems, or compliance testing systems used to
monitor the Funds’ investments. These events could result in losses to the
Funds and Fund shareholders and disrupt the Funds’ day-to-day operations
and the portfolio management of the Funds, as well as damage the conduct
of business among the Funds, Fund shareholders, the Funds’ service
providers and/or financial intermediaries. While measures have been
developed that are designed to reduce cybersecurity risks and to mitigate
or lessen resulting damages, there is no guarantee that those measures
will be effective, particularly because the Funds do not directly control
the cybersecurity defenses or plans of their service providers, financial
intermediaries, and other parties with which the Funds transact. |
• |
Derivatives Risk: A Fund’s use of forward commitments,
futures contracts, options or swap agreements (types of derivative
instruments) as a principal investment strategy subjects the Fund to
several risks, including: counterparty risk, leverage risk, market risk,
regulatory risk, liquidity and valuation risk, operational risk,
correlation risk, legal risk and premium risk. These risks are different
from, and may be greater than, the risks involved if the Fund were to
invest directly in the asset (e.g., a security, currency or index)
underlying the derivative (the underlying Reference asset). The use of
these instruments may, in some cases, cause a Fund to realize higher
amounts of short-term capital gains and ordinary income (generally taxed
at ordinary income tax rates) than if the Fund had not engaged in such
transactions. |
• |
Counterparty Risk – Derivative
transactions that are privately negotiated in the “over-the-counter”
market, such as forward commitments and most swap agreements, involve the
risk that the party with whom the Fund has entered into the transaction
(the counterparty) will be unable to fulfill its obligation to pay the
Fund and the risk that the Fund will not be able to meet its obligations
to pay the counterparty. Because these instruments are privately
negotiated, unlike exchange-traded contracts, they are subject to a
greater risk of default or bankruptcy by a counterparty, which could
result in adverse market impact, expenses or delays in connection with the
purchase or sale of the underlying Reference asset. For derivatives traded
on an exchange or through a central clearinghouse, such as futures
contracts and most options, counterparty risk is still present with the
Fund’s clearing broker, or the clearinghouse
itself. |
• |
Leverage Risk – A forward commitment,
futures contract, option or swap agreement provides exposure to potential
gain or loss from a change in the level of the market price of the
underlying Reference asset (such as a security, currency, index or basket
of securities) in a notional amount that exceeds the amount of cash or
assets required to establish or maintain the Fund’s position. The use of
leverage could result in increased return but also creates the possibility
for greater loss on the investment (including larger swings in value for
the Fund). In some instances, the loss can exceed the net assets of the
Fund. |
• |
Market Risk – Market risk generally
refers to risk from potential adverse market movements in relation to a
Fund’s derivatives positions, or the risk that markets could experience a
change in volatility that adversely impacts Fund returns. Price volatility
of an investment refers to the variation of changes in that investment’s
value over time as a result of market movements. Thus, an investment with
higher price volatility is likely to have greater price swings over
shorter time periods than an investment with lower price volatility, and a
Fund that invests in more volatile investments may see its value also go
up or down rapidly or unpredictably. Price volatility can be caused by
many factors, including changes in the economy or financial markets or for
reasons specific to a particular issuer. Adverse changes in the value or
level of the underlying Reference asset, which the Fund may not directly
own, can result in a loss to the Fund substantially greater than the
amount invested in the derivative itself. In addition, changes in the
value of a derivative may be more sensitive to market factors than, the
underlying Reference asset so that the Fund may lose more than the initial
amount invested. Market risk may also impact a Fund’s obligations and
exposures. |
• |
Regulatory Risk – Governmental and
regulatory actions relating to a mutual fund’s use of derivatives (such as
forward commitments, futures contracts, options, and swap agreements) and
related instruments, including tax law changes, may limit a Fund’s ability
to invest or remain invested in derivatives, increase the costs of the
Fund’s derivatives transactions and/or adversely affect the value of
derivatives and the Fund’s performance. Effective August 19, 2022,
the Funds will be subject to the requirements of new Rule 18f-4 under the
1940 Act regarding the use of derivatives, including the adoption of a
derivatives risk management program for certain derivatives users as well
as policies and procedures to implement the requirements of the
rule. |
• |
Liquidity and Valuation Risk – Where an
active secondary market for an over-the-counter derivative instrument
(such as forward commitments, options, and most swap agreements) is
lacking, a Fund may be unable to exercise, sell or otherwise close its
position in the instrument, which could expose the Fund to losses and make
the position more difficult for the Fund to value accurately. In these
circumstances, a Fund may be unable to take advantage of market
opportunities or may be forced to sell other more desirable, more liquid
securities or sell less liquid or illiquid securities at a loss if needed
to raise cash to conduct operations, including to meet redemption
requests. Less liquidity also means that more subjectivity may be used in
establishing the value of the position. For example, if market quotations
are not readily available or reliable for these investments, the
investments will be valued by a method that reflects fair value.
Valuations determined in this manner may require subjective inputs about
the value of these investments. |
• |
Operational Risk – A Fund that engages
in derivatives transactions will be subject to risks related to potential
operational issues, including documentation issues, settlement issues,
systems failures, inadequate controls, and human error (including manual
processes). |
• |
Correlation Risk – The value of a
forward commitment, futures contract, option, or swap agreement may not
correlate precisely with the value of its respective underlying Reference
asset, and the Fund could therefore lose more than it invested. When used
for hedging, the change in value of a derivative may not correlate as
expected with the currency, security or other risk being
hedged. |
• |
Legal Risk – Legal risks related to
documentation/agreements, capacity or authority of a counterparty, or
issues regarding the legality or enforceability of a contract, may limit a
Fund’s ability to invest or remain invested in
derivatives. |
• |
Premium Risk – A Fund that utilizes
options is subject to the risk of losing the premium it paid to purchase
an option if the price of the underlying Reference asset decreases or
remains the same (for a call option) or increases or remains the same (for
a put option). If a call or put option that a Fund purchased were allowed
to expire without being sold or exercised, its premium would be a loss to
the Fund. |
• |
Emerging
Markets Risk: Investments in
or exposure to investments in emerging market countries (such as many
countries in Latin America, Asia, the Middle East, Eastern Europe and
Africa), may be riskier than investments in or exposure to investments in
U.S. and other developed markets for many reasons, including smaller
market capitalizations, greater price volatility, less liquidity, lower
credit quality, a higher degree of political and economic instability
(which can freeze, restrict or suspend transactions in those investments,
including cash), the impact of economic sanctions, less governmental
regulation and supervision of the financial industry and markets, and less
stringent financial reporting and accounting standards and controls.
Information, including financial information, about companies in emerging
markets may be less available and reliable which can impede a Fund’s
ability to evaluate companies in emerging markets. In addition, the
taxation systems at the federal, regional, and local levels in emerging
market countries may be less transparent and inconsistently enforced, and
subject to sudden change. Emerging market countries may have a higher
degree of corruption and fraud than developed market countries, as well as
counterparties and financial institutions with less financial
sophistication, creditworthiness and/or resources. If an international
body (such as the United Nations) or a sovereign state (such as the United
States) imposes economic sanctions, trade embargoes or other restrictions
against a government of an emerging market country or issuers, a Fund’s
investments in issuers subject to such restrictions may be frozen or
otherwise suspended or restricted, prohibiting or impeding the Fund from
selling or otherwise transacting in these investments, and a Fund may be
prohibited from or impeded in investing in such issuers or may be required
to divest its holdings in such issuers, which may result in losses to the
Fund. |
• |
Investment Style Risk: Each Fund has its own investment style or
overall investment strategy (e.g., large-capitalization growth
investment style). A Fund’s investment style may shift in and out of favor
for reasons including market conditions and investor
sentiment. |
• |
Issuer Risk: The value of a security or
instrument may decline for reasons directly related to the issuer of the
security or instrument, such as management, performance, financial
leverage, changes in markets in which the issuer offers goods or services,
and reduced demand for the issuer’s goods or
services. |
• |
Market and Regulatory Risk: Events in the
financial markets and economy may cause volatility and uncertainty and
adversely affect performance. Such adverse effect on performance could
include a decline in the value and liquidity of securities held by a Fund,
unusually high and unanticipated levels of redemptions, an increase in
portfolio turnover, a decrease in NAV, and an increase in Fund expenses.
It may also be unusually difficult to identify both investment risks and
opportunities, in which case investment goals may not be met. Market
events may affect a single issuer, industry, sector, or the market as a
whole. In addition, because of interdependencies between markets, events
in one market may adversely impact markets or issuers in which a Fund
invests in unforeseen ways. Traditionally liquid investments may
experience periods of diminished liquidity. During a general downturn in
the financial markets, multiple asset classes may decline in value and a
Fund may lose value, regardless of the individual results of the
securities and other instruments in which a Fund invests. It is impossible
to predict whether or for how long such market events will continue,
particularly if they are unprecedented, unforeseen or widespread events or
conditions. Therefore, it is important to understand that the value of
your investment may fall, sometimes sharply and for extended periods, and
you could lose money. Governmental and regulatory actions, including tax
law changes, may also impair portfolio management and have unexpected or
adverse consequences on particular markets, strategies, or investments.
Future market or regulatory events may impact a Fund in unforeseen ways,
such as causing a Fund to alter its existing strategies or potentially, to
liquidate and close. |
• |
Natural Disasters Risk: Natural disasters
occur throughout the world and include events such as blizzards and ice
storms, earthquakes, floods, hurricanes, pandemics, tidal waves,
tornadoes, tsunamis, typhoons, volcanic eruptions, and wildfires. Although
specific types of natural disasters may occur more frequently in certain
geographic locations, such events are by their nature unpredictable and
may cause sudden, severe and widespread damage that negatively impacts
issuers, regions and economies in which a Fund invests. Should a Fund hold
significant investments in, or have significant exposure to, an issuer,
region or economy affected by a natural disaster, the Fund may lose money.
Due to the interconnectedness of the global economy, natural disasters in
one location may negatively impact issuers in other
locations. |
• |
New Adviser Risk: The Adviser is newly
registered and therefore has limited operating history. Mutual funds and
their advisers are also subject to restrictions imposed by the 1940 Act,
and the Internal Revenue Code that do not apply to the management of other
types of individual and institutional accounts. As a result, investors do
not have a long-term track record from which to judge the Adviser and the
Adviser may not achieve the intended result in managing the
Funds. |
• |
Price Volatility Risk: The values of all
of a Fund’s investments have the potential to be volatile. Price
volatility of an investment refers to the variation of changes in that
investment’s value over time. Thus, an investment with higher price
volatility is likelier to have greater price swings over shorter time
periods than an investment with lower price volatility and a fund that
invests in more volatile investments may see its price also go up or down
rapidly or unpredictably. Price volatility can be caused by many factors,
including changes in the economy or financial markets or for reasons
specific to a particular issuer. |
• |
Redemption Risk: A Fund could experience
a loss when selling securities, including securities of other investment
companies, to meet redemption requests by shareholders if the redemption
requests are unusually large or numerous, occur in times of market turmoil
or declining prices for the securities sold, or when the securities to be
sold are illiquid. Such redemptions may also increase expenses to the Fund
and cause the sale of securities in a short timeframe, both of which could
negatively impact performance. |
• |
Sector Risk: A Fund may be invested more
heavily from time to time (e.g.,
over 25% of its assets) in a particular sector (which is more broadly
defined than an industry classification). If a Fund is invested more
heavily in a particular sector, its performance will be more sensitive to
risks and developments that affect that sector. Individual sectors may
rise and fall more than the broader market. In addition, issuers within a
sector may all react in the same way to economic, political, regulatory or
other events. |
Sales Charges | ||||||||||||
Portfolio Optimization Funds | Class A | Class C | Class I‑2 | |||||||||
Maximum
Front-end Sales Charge on your investment (as a percentage of offering
price) |
5.50 | %1 | None | None | ||||||||
Maximum
Contingent Deferred Sales Charge (as a percentage of purchase price or
redemption price, whichever is less) |
None | 2 | 1.00 | %3 | None |
1 |
The
sales charge is reduced for purchases of $50,000 or more and is waived in
certain circumstances. |
2 |
There
is a contingent deferred sales charge of 1% on redemptions of Class A
shares within one year of purchase if the purchase was part of an
investment of $1 million or more where the initial sales charge was
waived. |
3 |
There
is a CDSC on the sale of shares within one year of
purchase. |
Sales Charges | ||||||||||||||||
Aristotle Core Income Fund, Aristotle Strategic Income Fund and Aristotle High Yield Bond Fund | Class A | Class C | Class I | Class I‑2 | ||||||||||||
Maximum
Front-end Sales Charge on your investment (as a percentage of offering
price) |
4.25 | %1 | None | None | None | |||||||||||
Maximum
Contingent Deferred Sales Charge (as a percentage of purchase price or
redemption price, whichever is less) |
None | 2 | 1.00 | %3 | None | None |
1 |
The
sales charge is reduced for purchases of $100,000 or more and is waived in
certain circumstances. |
2 |
There
is a contingent deferred sales charge of 1% on redemptions of Class A
shares within one year of purchase if the purchase was part of an
investment of $500,000 or more where the initial sales charge was
waived. |
3 |
There
is a CDSC on the sale of shares within one year of
purchase. |
Sales Charges | ||||||||||||||||
Aristotle Small/Mid Cap Equity Fund | Class A | Class C | Class I | Class I‑2 | ||||||||||||
Maximum
Front-end Sales Charge on your investment (as a percentage of offering
price) |
4.25 | %1 | None | None | None | |||||||||||
Maximum
Contingent Deferred Sales Charge (as a percentage of purchase price or
redemption price, whichever is less) |
None | 2 | 1.00 | %3 | None | None |
1 |
The
sales charge is reduced for purchases of $100,000 or more and is waived in
certain circumstances. |
2 |
There
is a contingent deferred sales charge of 1% on redemptions of Class A
shares within one year of purchase if the purchase was part of an
investment of $500,000 or more where the initial sales charge was
waived. |
3 |
There
is a CDSC on the sale of shares within one year of
purchase. |
Sales Charges | ||||||||||||||||||||
Aristotle Small Cap Equity Fund II | Class A | Class C | Class I | Class R6 | Class I‑2 | |||||||||||||||
Maximum
Front-end Sales Charge on your investment (as a percentage of offering
price) |
4.25 | %1 | None | None | None | None | ||||||||||||||
Maximum
Contingent Deferred Sales Charge (as a percentage of purchase price or
redemption price, whichever is less) |
None | 2 | 1.00 | %3 | None | None | None |
1 |
The
sales charge is reduced for purchases of $100,000 or more and is waived in
certain circumstances. |
2 |
There
is a contingent deferred sales charge of 1% on redemptions of Class A
shares within one year of purchase if the purchase was part of an
investment of $500,000 or more where the initial sales charge was
waived. |
3 |
There
is a CDSC on the sale of shares within one year of
purchase. |
Sales Charges | ||||||||||||||||
Aristotle Short Duration Income Fund and Aristotle Floating Rate Income Fund | Class A | Class C | Class I | Class I‑2 | ||||||||||||
Maximum
Front-end Sales Charge on your investment (as a percentage of offering
price) |
3.00 | %1 | None | None | None | |||||||||||
Maximum
Contingent Deferred Sales Charge (as a percentage of purchase price or
redemption price, whichever is less) |
None | 2 | 1.00 | %3 | None | None |
1 |
The
sales charge is reduced for purchases of $100,000 or more and is waived in
certain circumstances. |
2 |
There
is a contingent deferred sales charge of 1% on redemptions of Class A
shares within one year of purchase if the purchase was part of an
investment of $500,000 or more where the initial sales charge was
waived. |
3 |
There
is a CDSC on the sale of shares within one year of
purchase. |
Sales Charges | ||||||||||||
Aristotle Ultra Short Income Fund | Class A | Class I | Class I‑2 | |||||||||
Maximum
Front-end Sales Charge on your investment (as a percentage of offering
price) |
None | None | None | |||||||||
Maximum
Contingent Deferred Sales Charge (as a percentage of purchase price or
redemption price, whichever is less) |
None | None | None |
Sales Charges | ||||||||
Aristotle ESG Core Bond Fund | Class I | Class I‑2 | ||||||
Maximum
Front-end Sales Charge on your investment (as a percentage of offering
price) |
None | None | ||||||
Maximum
Contingent Deferred Sales Charge (as a percentage of purchase price or
redemption price, whichever is less) |
None | None |
Your expenses (in dollars) | ||||||||||||||||
1 Year | 3 Years | 5 Years | 10 Years | |||||||||||||
Aristotle
Portfolio Optimization Conservative Fund |
$ | 659 | $ | 889 | $ | 1,138 | $ | 1,849 | ||||||||
Aristotle
Portfolio Optimization Moderate-Conservative Fund |
$ | 660 | $ | 892 | $ | 1,143 | $ | 1,860 | ||||||||
Aristotle
Portfolio Optimization Moderate Fund |
$ | 658 | $ | 886 | $ | 1,133 | $ | 1,838 | ||||||||
Aristotle
Portfolio Optimization Growth Fund |
$ | 655 | $ | 878 | $ | 1,118 | $ | 1,806 | ||||||||
Aristotle
Portfolio Optimization Aggressive-Growth Fund |
$ | 655 | $ | 878 | $ | 1,118 | $ | 1,806 | ||||||||
Aristotle
Ultra Short Income Fund |
$ | 58 | $ | 183 | $ | 318 | $ | 714 | ||||||||
Aristotle
Short Duration Income Fund |
$ | 374 | $ | 532 | $ | 704 | $ | 1,202 | ||||||||
Aristotle
Core Income Fund |
$ | 508 | $ | 685 | $ | 876 | $ | 1,429 | ||||||||
Aristotle
Strategic Income Fund |
$ | 517 | $ | 712 | $ | 923 | $ | 1,531 | ||||||||
Aristotle
Floating Rate Income Fund |
$ | 401 | $ | 616 | $ | 850 | $ | 1,520 | ||||||||
Aristotle
High Yield Bond Fund |
$ | 518 | $ | 715 | $ | 928 | $ | 1,542 | ||||||||
Aristotle
Small/Mid-Cap Equity Fund |
$ | 537 | $ | 775 | $ | 1,031 | $ | 1,763 | ||||||||
Aristotle
Small-Cap Equity Fund II |
$ | 537 | $ | 775 | $ | 1,031 | $ | 1,763 |
Fund | Class | Expense Limit (based on percentage of the average daily net assets) | ||
Aristotle
Portfolio Optimization Conservative Fund |
Class A | 1.22% | ||
Class C | 1.97% | |||
Class I‑2 | 0.97% | |||
Aristotle
Portfolio Optimization Moderate Conservative Fund |
Class A | 1.22% | ||
Class C | 1.97% | |||
Class I-2 | 0.97% | |||
Aristotle
Portfolio Optimization Moderate Fund |
Class A | 1.23% | ||
Class C | 1.98% | |||
Class I-2 | 0.98% | |||
Aristotle
Portfolio Optimization Growth Fund |
Class A | 1.25% | ||
Class C | 2.00% | |||
Class I-2 | 1.00% | |||
Aristotle
Portfolio Optimization Aggressive Growth Fund |
Class A | 1.26% | ||
Class C | 2.01% | |||
Class I-2 | 1.01% | |||
Aristotle
Ultra Short Income Fund |
Class A | 0.57% | ||
Class I | 0.32% | |||
Class I-2 | 0.32% | |||
Aristotle
Short Duration Income Fund |
Class A | 0.75% | ||
Class C | 1.50% | |||
Class I | 0.45% | |||
Class I-2 | 0.50% | |||
Aristotle
Core Income Fund |
Class A | 0.85% | ||
Class C | 1.60% | |||
Class I | 0.55% | |||
Class I-2 | 0.55% | |||
Aristotle
ESG Core Bond Fund |
Class I | 0.48% | ||
Class I-2 | 0.48% | |||
Aristotle
Strategic Income Fund |
Class A | 0.94% | ||
Class C | 1.69% | |||
Class I | 0.64% | |||
Class I-2 | 0.69% | |||
Aristotle
Floating Rate Income Fund |
Class A | 1.02% | ||
Class C | 1.77% | |||
Class I | 0.72% | |||
Class I‑2 | 0.77% | |||
Aristotle
High Yield Bond Fund |
Class A | 0.95% | ||
Class C | 1.70% | |||
Class I | 0.65% | |||
Class I-2 | 0.70% | |||
Aristotle
Small/Mid Cap Equity Fund |
Class A | 1.20% | ||
Class C | 1.95% | |||
Class I | 0.85% | |||
Class I-2 | 0.95% | |||
Aristotle
Small Cap Equity Fund II |
Class A | 1.20% | ||
Class C | 1.95% | |||
Class I | 0.90% | |||
Class I-2 | 0.95% | |||
Class R6 | 0.85% |
• |
How
long do I plan to hold the shares? |
• |
How
much money do I intend to invest? |
• |
Will
I be purchasing more shares in the future? |
• |
What
expenses will I pay for each class? |
• |
Do
I qualify for any sales charge discounts? |
Share Class | Front-end Sales Charge |
Annual Distribution and/or Service Fees |
CDSC | Conversion to Class A Shares | ||||
Class A | YES—initial sales charge which
may be waived or
reduced. |
0.25% | NONE—refer to the Contingent Deferred Sales Charges (“CDSCs”) subsection. |
N/A | ||||
Class C | NONE | 1.00% | YES—1.00% on shares redeemed within one year of
purchase. |
YES – after six (6) years. | ||||
Class I | NONE | NONE | NONE | NO | ||||
Class R6 | NONE | NONE | NONE | NO | ||||
Class I‑2 | NONE | NONE | NONE | NO |
Investment | Sales charge as a % of offering price |
Sales charge as a % of Net Amount Invested |
||||||
Under
$50,000 |
5.50 | % | 5.82 | % | ||||
$50,000
to under $100,000 |
4.75 | % | 4.99 | % | ||||
$100,000
to under $250,000 |
3.75 | % | 3.90 | % | ||||
$250,000
to under $500,000 |
3.00 | % | 3.09 | % | ||||
$500,000
to under $1,000,000 |
2.10 | % | 2.15 | % | ||||
$1,000,000
and over* |
0.00 | % | 0.00 | % |
Investment | Sales charge as a % of offering price |
Sales charge as a % of Net Amount Invested |
||||||
Under
$100,000 |
4.25 | % | 4.44 | % | ||||
$100,000
to under $250,000 |
3.50 | % | 3.63 | % | ||||
$250,000
to under $500,000 |
2.25 | % | 2.30 | % | ||||
$500,000
and over* |
0.00 | % | 0.00 | % |
Investment | Sales charge as a % of offering price |
Sales charge as a % of Net Amount Invested |
||||||
Under
$100,000 |
3.00 | % | 3.09 | % | ||||
$100,000
to under $250,000 |
2.25 | % | 2.30 | % | ||||
$250,000
to under $500,000 |
1.50 | % | 1.52 | % | ||||
$500,000
and over* |
0.00 | % | 0.00 | % |
Investment | Sales charge as a % of offering price |
Sales charge as a % of Net Amount Invested |
||||||
N/A |
None | None |
* |
Shares
will be subject to a CDSC of 1.00% if you sell shares within one year of
purchase. Please see the CDSCs on
Class A Shares subsection within the Overview of the Share Classes section of
this Prospectus for additional information. |
Class
A shares may be purchased
without
a front-end sales charge by
the
following individuals: |
• Registered
representatives and employees of broker-dealers with a current
distribution or selling agreement with the Trust and such broker-dealers’
affiliates; | |
• Employees
of current Managers to the Trust, other service providers to the Trust and
their affiliates; | ||
• Immediate
family members, as described below under Aggregating Accounts, of all the
above referenced persons; | ||
• Investors
who purchase through a fee-based advisory program sponsored by a financial
intermediary or similar program under which clients pay a fee to the
financial intermediary; | ||
• Investors
who purchase through an omnibus account sponsored by a financial
intermediary that does not accept or charge the Class A initial sales
charge (Note: Your financial intermediary may charge transaction fees or
additional fees that are separate from Fund fees and
expenses.); | ||
• Qualified
retirement plans where the plan’s investments are part of an omnibus
account sponsored by a financial intermediary that does not accept or
charge the Class A initial sales charge (Note: Your financial intermediary
may charge transaction fees or additional fees that are separate from Fund
fees and expenses.); |
• Pacific
Life Individual(k) Program participants who purchase shares in repayment
of an outstanding loan under this program;
and |
• Investors
who purchase through a self-directed investment brokerage account offered
by a financial intermediary that does not accept or charge the Class A
initial sales charge (Note: Your financial intermediary may charge
transaction fees or additional fees that are separate from Fund fees and
expenses.). | ||
Investors
will not pay a Class A
initial
sales charge in the following circumstances: |
• When
reinvesting dividends and distributions; | |
• When
exchanging Class A shares of one Fund, that were previously assessed a
sales charge, for Class A shares of another Fund; | ||
• When
acquiring Class A shares of a Fund as a result of an automatic conversion
of the Fund’s Class C shares into Class A shares; and | ||
• When
acquiring shares as a result of a Fund’s merger, consolidation, or
acquisition of the assets of another Fund. |
Reinstatement Privilege | If you sell shares of a Fund and withdraw your money from a Fund, you may reinstate into the same account, within 60 days of the date of your redemption, some or all of the proceeds in that Fund, or the same share class of any Fund that the Trust offers that you own at the time of the reinstatement, without paying a front-end sales charge if you paid a front-end sales charge when you originally purchased your shares. For purposes of the CDSC, if you paid a CDSC when you sold your shares, you would be credited with the amount of the CDSC proportional to the amount reinvested. Reinstated shares will continue to age, as applicable, from the date that you bought your original shares. This privilege can be used only once per calendar year per account. Contact your financial intermediary or Aristotle Funds customer service at 844-ARISTTL (844-274-7885) for additional information. You must identify and provide information to the Trust or your financial intermediary, as applicable, regarding your historical purchases and holdings, and you should also retain any records necessary to substantiate historical transactions and costs because the Trust, its transfer agent, and financial intermediaries will not be responsible for providing this information. | |
Letter of Intent Privilege | Allows you to pledge to purchase Class A shares over a 13-month period and pay the same sales charge (if any) as if the shares had all been purchased at once whether you hold your shares directly with a Fund or through another financial intermediary. Purchases in all account types (e.g., IRA, retail, etc.), and purchases of Classes A and C shares by you and your immediate family members that are provided for purposes of the Letter of Intent will credit towards fulfilling the Letter of Intent on the new account. At the time you enter into the Letter of Intent, you select your total investment goal amount. Any shares purchased within 90 days of the date you sign the letter of intent may be used as credit toward completion, but the reduced sales charge will only apply to new purchases made on or after that date. Shares equal to 5.5% of the amount of the Letter of Intent will be held in escrow during the 13-month period. If, at the end of that time the total amount of purchases made is less than the amount intended, you will be required to pay the difference between the reduced sales charge and the sales charge applicable to the individual purchases had the Letter of Intent not been in effect. This amount will be obtained from redemption of the escrow shares. Any remaining escrow shares will be released to you. Capital appreciation, reinvested dividends and reinvested capital gains distributions do not count toward the Letter of Intent amount. After a Letter of Intent has been fulfilled or terminated, any applicable sales charge breakpoints will be determined by Rights of Accumulation if the account includes this privilege. |
Rights of Accumulation Privilege | Allows you and your immediate family members and participants of a SIMPLE and SEP group plan to include the current value (calculated at the offering price) or original purchase amounts (calculated net of any applicable sales charges) less withdrawals, whichever is more beneficial, in all share classes of accounts already owned in order to calculate the sales charge breakpoint for the next purchase at the offering price, whether you hold your shares directly with a Fund or through another financial intermediary. Accounts holding Class I, Class I-2, or Class R6 shares cannot be combined for Rights of Accumulation. |
Combination Privilege | You may combine all identified orders received on the same day and processed in a single transaction with any Class C shares to reduce your Class A sales charge. Orders related to Class I, Class I-2 or Class R6 shares cannot be used for Combination Privilege purposes. |
Immediate Family Members | You and your “immediate family members” may combine all of your Aristotle Funds investments to reduce your Class A sales charge. Immediate family members include: | |||
• Parents
• Siblings
• Dependents
• Brothers-in-law
• Grandparents |
• Spouse
or as recognized under local law
• Children
• Parents-in-law
• Sisters-in-law | |||
Entities | If the account owner is an entity (e.g., a trust, a qualified plan, etc.), the privileges described above will apply to the beneficial owners and trustees of the entity. For purposes of applying these privileges, investments for the accounts of entities and their affiliates may be aggregated. Omnibus accounts or other accounts that are not on the books of Aristotle Funds or its transfer agent may not be aggregated unless documentation is provided that Aristotle Funds deems sufficient to verify the ownership of such accounts, along with any other information Aristotle Funds deems necessary to implement the appropriate privileges, such as account values. | |||
Participants of a SIMPLE and SEP Group Plan | Participants of a SIMPLE IRA or SEP IRA group plan may combine all Aristotle Funds investments to reduce Class A sales charges. Rights of Accumulation, as described above, are allowed once approved by the plan sponsor and contributions are received at Aristotle Funds. As a participant, you must elect to combine your account with either the plan or immediate family members. Other personal accounts you own and accounts owned by immediate family members cannot be linked to the SIMPLE IRA or SEP IRA group plan. |
• |
Redemptions
following the permanent disability (as defined by Section 72(m)(7) of
the Internal Revenue Code) of a shareholder. The waiver is available only
for shares held at the time of initial determination of permanent
disability. |
• |
Redemptions
following the death of a shareholder as long as full redemption is
requested within one year of the date of death. |
• |
Redemptions
for an individual retirement account (“IRA”) account following the death
of a shareholder as long as re-registration is made within one year of
death. The waiver is available only for shares held at the time of
death. |
• |
Redemption
amounts made through a Systematic Withdrawal Plan (“SWP”) are limited to
10% per year of the current account value on the day the SWP is
established, provided all dividends and distributions are reinvested
(“CDSC Waiver Eligible Amount”). The CDSC Waiver Eligible Amount will
remain the same for subsequent SWP redemptions. The SWP redemption amount
may be higher or lower than the CDSC Waiver Eligible Amount. The frequency
of the SWP determines what portion of the CDSC Waiver Eligible Amount
applies to each SWP transaction. Any SWP redemption in excess of the
amount eligible for the CDSC waiver may be subject to a CDSC. If the
existing SWP is cancelled and a new SWP is established later, a new CDSC
Waiver Eligible Amount would be determined. |
• |
Required
Minimum Distributions (“RMD”), as required under the Internal Revenue
Code, to the extent of the RMD amount attributed to your IRA with
Aristotle Funds. |
• |
Excess
contributions as required under the IRC. |
Account Type / Plan | Initial Investment | Subsequent Investment | ||||||
The minimum investments for Class A and
Class C shares are as follows: |
||||||||
Retail
Accounts |
$ | 1,000 per Fund | $ | 50 per Fund | ||||
IRAs,
Roth IRAs, SEP IRAs, ESAs |
$ | 1,000 per Fund | $ | 50 per Fund | ||||
SIMPLE
IRAs, SAR-SEPs |
No minimum | No minimum | ||||||
Employer
Sponsored Retirement Plans |
No minimum | No minimum | ||||||
Preauthorized
Investment Plan |
$ | 50 per Fund, per draft | $ | 50 per Fund, per draft | ||||
The minimum investments for Class I shares are
as follows: |
||||||||
Class
I shares (Institutional Investors) |
$ | 500,000 | No minimum | |||||
Class
I shares (Individual Investors) |
No minimum | No minimum |
Method |
Opening
an account |
Adding
to an account | ||
Through a Financial Intermediary: |
Contact
your financial professional. |
Contact
your financial professional. | ||
By Mail: |
Complete
the applicable Account Application, ensuring that you include your
registered representative’s name and appropriate share class. Account
Applications without a registered representative’s name or share class may
be returned by the Trust. Return the completed Account Application with
either your investment check or select electronic funds transfer (“EFT”)
option under How to Fund Your
Account and send to Aristotle Funds to the following address:
Regular
Mail:
Aristotle
Funds
c/o
U.S. Bank Global Fund Services
P.O.
Box 701
Milwaukee,
WI 53201-0701
Overnight
Mail:
Aristotle
Funds
c/o
U.S. Bank Global Fund Services
615
E. Michigan Street, 3rd Floor
Milwaukee,
WI 53202
The
Fund does not consider the U.S. Postal Service or other independent
delivery services to be its agents. Therefore, deposit in the mail or with
such services, or receipt at U.S. Bancorp Fund Services, LLC post office
box, of purchase orders or redemption requests does not constitute receipt
by the transfer agent of the Fund. Receipt of purchase orders or
redemption requests is based on when the order is received at the Transfer
Agent’s offices. Please see Execution of
Your Requests subsection below. |
Complete the Invest by Mail form included with your confirmation quarterly account statement or submit a letter of instruction indicating the desired investment allocations. Make your check payable to “Aristotle Funds” and remember to include your account number and investment allocations with your check. | ||
By Telephone: | Not applicable. | To transfer money from your bank account to your Aristotle Funds account using EFT, call (800) 722-2333 and provide the Fund name and share class, your Aristotle Funds account number, the name(s) in which the Aristotle Funds account is registered and the amount of the electronic transfer. If you elected this option on your account application, and your account has been open for at least 7 business days, telephone orders will be accepted via electronic funds transfer from your bank account through the Automated Clearing House (ACH) network. Refer to Telephone Instructions under Execution of Your Requests below for additional information. |
Method |
Opening
an account |
Adding
to an account | ||
By Wire: |
To
open an account by wire, a completed account application is required
before your wire can be accepted. You may mail or overnight deliver your
account application to the transfer agent. Upon receipt of your completed
application, an account will be established for you. The account number
assigned will be required as part of the instruction that should be
provided to your bank to send the wire. Your bank must include the name of
the Fund you are purchasing, the account number, and your name so that
monies can be correctly applied. Your bank should transmit funds by wire
to:
U.S.
Bank, N.A.
777
East Wisconsin Avenue
Milwaukee,
WI 53202
ABA
#075000022
Credit:
U.S.
Bancorp Fund Services, LLC
Account
#112-952-137
Further
Credit:
(name
of Fund to be purchased)
(shareholder
registration)
(shareholder
account number)
Wired
funds must be received prior to 4:00 p.m. Eastern time to be eligible for
same day pricing. The Fund and U.S. Bank, N.A. are not responsible for the
consequences of delays resulting from the banking or Federal Reserve wire
system, or from incomplete wiring instructions. |
Before sending your wire, please contact the Transfer Agent to advise them of your intent to wire funds. This will ensure prompt and accurate credit upon receipt of your wire. | ||
By Preauthorized Investment Plan: | You may make systematic investments through a preauthorized transfer from your bank or other financial institution to your Aristotle Funds account ($50 minimum per fund, per draft, if the initial investment of $1,000 is met). This Plan provides a convenient method to have monies deducted from your bank account, for investment into the Fund, on a monthly, bi-monthly, quarterly, or semi-annual basis. A preauthorized investment plan may take up to 7 calendar days to establish and become active. Your financial institution must be a member of the Automated Clearing House (ACH) network. If your bank rejects your payment, the Fund’s transfer agent will charge a $25 fee to your account. To begin participating in the Plan, please complete the Automatic Investment Plan section on the account application or call the Fund’s transfer agent at 844-ARISTTL (1-844-274-7885) for instructions. Any request to change or terminate your Automatic Investment Plan should be submitted to the transfer agent 5 days prior to the effective date. |
Acceptable forms of payment |
• Personal
checks or bank draft (cashier’s check, official bank check, or treasury
check) drawn on a U.S. bank;
• Money
orders and traveler’s checks in single denominations of more than $10,000
if they were to originate in a U.S. bank;
• Third-party
checks when there is a clear connection of the third party to the
underlying transaction; and
• Wire
transfers that originate in U.S. banks. |
Unacceptable forms of payment |
• Cash;
• Starter
checks;
• Credit
cards or checks drawn against a credit account;
• Money
orders or traveler’s checks in single denominations of $10,000 or less
from any institution;
• Personal
check, bank drafts, money orders, traveler’s checks, or wire transfers
drawn on non-U.S. banks, even if the payment were effected through a U.S.
bank; and
• Third-party
checks when there is not a clear connection of the third party to the
underlying transaction. |
In Writing: |
To
sell shares in writing, send a signed written request or signed
distribution form specifying the Fund name and share class, account
number, name(s) registered on the account and the dollar value or number
of shares you wish to sell. Shareholders who have an IRA or other
retirement plan must indicate on their written redemption request whether
or not to withhold federal income tax. Redemption requests failing to
indicate an election not to have tax withheld will generally be subject to
10% withholding. Signatures of all shareholders are required and must
match the account registration or the authorized signer on file.
Regular
Mail:
Aristotle
Funds
c/o
U.S. Bank Global Fund Services
P.O.
Box 701
Milwaukee,
WI 53201-0701
Overnight
Mail:
Aristotle
Funds
c/o
U.S. Bank Global Fund Services
615
E. Michigan Street, 3rd Floor
Milwaukee,
WI 53202
The Funds do not consider the U.S. Postal
Service or other independent delivery services to be its agents.
Therefore, deposit in the mail or with such services, or receipt at U.S.
Bancorp Fund Services, LLC post office box, of purchase orders or
redemption requests does not constitute receipt by the Transfer Agent of
the Fund. Receipt of purchase orders or redemption requests is based on
when the order is received at the Transfer Agent’s
offices. |
By Telephone: | You may sell shares up to $100,000 in gross value by telephone on certain account types by calling customer service at (800) 722-2333 provided certain criteria are met. To disable this option, check the appropriate box on your Account Application or the applicable redemption/distribution form. Corporate investors and other associations must have an appropriate certification on file authorizing redemptions. Shares held in IRA and other retirement accounts may be redeemed by telephone at 844-ARISTTL (844-274-7885). Investors will be asked whether or not to withhold taxes from any distribution. | |
SWP: | You can set up automatic monthly, quarterly, semi-annual or annual redemptions on your account, as long as the value of the account is at least $5,000 at the time the SWP is established. You may redeem a fixed dollar amount (minimum $50), a fixed number of shares (five shares or more) or a whole percentage of the account value, which will be applied to the account value at the time of each SWP redemption in order to determine the redemption amount. Please be aware that SWP redemptions may be subject to a CDSC – see the CDSC Waivers subsection for applicable waivers. Because a CDSC may apply, it may not be advantageous to you to make additional investments while participating in a SWP. To establish a SWP, you must complete the appropriate sections on the applicable form. You may receive this form from customer service by calling customer service at 844-ARISTTL (844-274-7885). You may terminate your participation in the SWP by calling or writing the Transfer Agent at least five calendar days before the next withdrawal. |
• |
If
ownership is being changed on your account; |
• |
When
redemption proceeds are payable or sent to any person, address or bank
account not on record; |
• |
When
a redemption request is received by the transfer agent and the account
address has changed within the last 15 calendar
days; |
• |
For
all redemptions in excess of $100,000 from any shareholder
account. |
In Writing: | To exchange shares in writing, send a signed written request or signed Investment Exchange Request form specifying the “from” and “to” Fund names, account number, name(s) registered on the account and the dollar value or number of shares you wish to exchange. Signatures of all shareholders are required and must match the account registration or the authorized signer on file. |
By Telephone: | You may exchange shares by telephone on certain account types by calling 844-ARISTTL (844‑274‑7885) provided certain criteria are met. To disable this option, check the appropriate box on your Account Application or the applicable redemption/distribution form. Corporate investors and other associations must have an appropriate certification on file authorizing exchanges. |
• |
may
not make more than 12 exchanges out of each of the Fixed Income Funds or
Equity Funds per calendar year. |
• |
For
clarification purposes, multiple exchanges out of the same Fixed Income
Fund or Equity Fund on the same trading day count as one
exchange. |
• |
exchanges
from a Fund that seeks to achieve its investment goal by investing
primarily in other Funds of the Trust; |
• |
redemptions
from a Fund; |
• |
exchanges
from Aristotle Ultra Short Income Fund; |
• |
exchanges
from one share class to another share class of the same Fund (share class
conversions); |
• |
systematic
transactions (dollar cost averaging, dividend reinvestments, automatic
investment plans); |
• |
loans
and loan repayments; or |
• |
transactions
by omnibus accounts, provided the omnibus provider has its own trading
policy which is reasonably designed to prevent disruptive trading activity
(as determined by the Trust and the Adviser). |
• |
Portfolio
Optimization Funds and Equity Funds – dividends, if any, are generally
declared and paid annually. |
• |
Fixed
Income Funds (except Aristotle Floating Rate Income Fund and Aristotle
Ultra Short Income Fund) – dividends, if any, are generally declared and
paid monthly. |
• |
Aristotle
Floating Rate Income Fund and Aristotle Ultra Short Income Fund –
dividends, if any, are generally declared daily and paid
monthly. |
• |
We
impose no additional charge for electronic delivery, although your
Internet provider may charge for Internet
access. |
• |
You
must provide a current e-mail address and notify the Trust promptly when
your e-mail address changes. |
• |
You
must update any e-mail filters that may prevent you from receiving e-mail
notifications from the Trust. |
• |
You
may request a paper copy of the information at any time for no charge,
even though you consented to electronic delivery, or if you decide to
revoke your consent. |
• |
For
jointly owned accounts, both owners are consenting that the primary owner
will receive information electronically. (Only the primary owner will
receive e-mail notices.) |
• |
Electronic
delivery will be canceled if e-mails are returned
undeliverable. |
• |
This
consent will remain in effect until you revoke
it. |
Fund | Advisory Fee (as a percentage of average net assets) |
|||
Aristotle
Portfolio Optimization Conservative Fund
Aristotle
Portfolio Optimization Moderate Conservative Fund
Aristotle
Portfolio Optimization Moderate Fund
Aristotle
Portfolio Optimization Growth Fund
Aristotle
Portfolio Optimization Aggressive Growth Fund |
0.20 | % | ||
Aristotle
Ultra Short Income Fund |
0.25 | % | ||
Aristotle
ESG Core Bond Fund |
0.38 | % | ||
Aristotle
Short Duration Income Fund |
0.40 | % | ||
Aristotle
Core Income Fund |
0.50 | % | ||
Aristotle
Strategic Income Fund |
0.59 | % | ||
Aristotle
Floating Rate Income Fund |
0.62 | % | ||
Aristotle
High Yield Bond Fund |
0.60 | % | ||
Aristotle
Small/Mid Cap Equity Fund |
0.70 | % | ||
Aristotle
Small Cap Equity Fund II |
0.70 | % |
Fund | Class‑Specific Expenses | Core Expenses | Total Supervision and Administration Fee |
|||||||||
Aristotle
Portfolio Optimization Conservative Fund |
||||||||||||
Class A |
0.20 | % | 0.05 | % | 0.25 | % | ||||||
Class
C |
0.20 | % | 0.25 | % | ||||||||
Class
I-2 |
0.20 | % | 0.25 | % | ||||||||
Aristotle
Portfolio Optimization Moderate Conservative Fund |
||||||||||||
Class A |
0.20 | % | 0.05 | % | 0.25 | % | ||||||
Class
C |
0.20 | % | 0.25 | % | ||||||||
Class
I-2 |
0.20 | % | 0.25 | % | ||||||||
Aristotle
Portfolio Optimization Moderate Fund |
||||||||||||
Class A |
0.20 | % | 0.05 | % | 0.25 | % | ||||||
Class
C |
0.20 | % | 0.25 | % | ||||||||
Class
I-2 |
0.20 | % | 0.25 | % | ||||||||
Aristotle
Portfolio Optimization Growth Fund |
||||||||||||
Class A |
0.20 | % | 0.05 | % | 0.25 | % | ||||||
Class
C |
0.20 | % | 0.25 | % | ||||||||
Class
I-2 |
0.20 | % | 0.25 | % | ||||||||
Aristotle
Portfolio Optimization Aggressive Growth Fund |
||||||||||||
Class A |
0.20 | % | 0.05 | % | 0.25 | % | ||||||
Class
C |
0.20 | % | 0.25 | % | ||||||||
Class
I-2 |
0.20 | % | 0.25 | % | ||||||||
Aristotle
Ultra Short Income Fund |
||||||||||||
Class
A |
0.02 | % | 0.05 | % | 0.07 | % | ||||||
Class
I |
0.02 | % | 0.07 | % | ||||||||
Class
I-2 |
0.02 | % | 0.07 | % | ||||||||
Aristotle
Short Duration Income Fund |
||||||||||||
Class A |
0.05 | % | 0.05 | % | 0.10 | % | ||||||
Class
C |
0.05 | % | 0.10 | % | ||||||||
Class
I |
0.00 | % | 0.05 | % | ||||||||
Class
I-2 |
0.05 | % | 0.10 | % | ||||||||
Aristotle
Core Income Fund |
||||||||||||
Class A |
0.05 | % | 0.05 | % | 0.10 | % | ||||||
Class
C |
0.05 | % | 0.10 | % | ||||||||
Class
I |
0.00 | % | 0.05 | % | ||||||||
Class
I-2 |
0.00 | % | 0.05 | % | ||||||||
Aristotle
ESG Core Bond Fund |
||||||||||||
Class
I |
0.05 | % | 0.05 | % | 0.10 | % | ||||||
Class
I-2 |
0.05 | % | 0.10 | % | ||||||||
Aristotle
Strategic Income Fund |
||||||||||||
Class A |
0.05 | % | 0.05 | % | 0.10 | % | ||||||
Class
C |
0.05 | % | 0.10 | % | ||||||||
Class
I |
0.00 | % | 0.05 | % | ||||||||
Class
I-2 |
0.05 | % | 0.10 | % | ||||||||
Aristotle
Floating Rate Income Fund |
||||||||||||
Class A |
0.08 | % | 0.05 | % | 0.13 | % | ||||||
Class
C |
0.08 | % | 0.13 | % | ||||||||
Class
I |
0.00 | % | 0.05 | % | ||||||||
Class
I-2 |
0.08 | % | 0.13 | % | ||||||||
Aristotle
High Yield Bond Fund |
||||||||||||
Class A |
0.05 | % | 0.05 | % | 0.10 | % | ||||||
Class
C |
0.05 | % | 0.10 | % | ||||||||
Class
I |
0.00 | % | 0.05 | % | ||||||||
Class
I-2 |
0.05 | % | 0.10 | % | ||||||||
Aristotle
Small/Mid Cap Equity Fund |
||||||||||||
Class A |
0.15 | % | 0.05 | % | 0.20 | % | ||||||
Class
C |
0.15 | % | 0.20 | % | ||||||||
Class
I |
0.10 | % | 0.15 | % | ||||||||
Class
I-2 |
0.00 | % | 0.05 | % | ||||||||
Aristotle
Small Cap Equity Fund II |
||||||||||||
Class A |
0.15 | % | 0.05 | % | 0.20 | % | ||||||
Class
C |
0.15 | % | 0.20 | % | ||||||||
Class
I |
0.15 | % | 0.20 | % | ||||||||
Class
R6 |
0.10 | % | 0.15 | % | ||||||||
Class
I-2 |
0.15 | % | 0.20 | % |
Pacific Life Fund Advisors LLC | ||
700
Newport Center Drive, Newport Beach, California 92660
Pacific
Life Fund Advisors LLC (“PLFA”) is the investment sub-adviser adviser to
the Portfolio Optimization Funds. | ||
PORTFOLIO OPTIMIZATION FUNDS | ||
Howard
T. Hirakawa, CFA |
Senior Vice President of Pacific Life and PLFA since 2014, Vice President of Pacific Select Fund and Pacific Funds since 2006, and Portfolio Manager since 2003. Mr. Hirakawa is responsible for the investment oversight relating to Pacific Select Fund, Pacific Funds and asset allocation services. He began his investment career in 1999 and has a BS from San Diego State University and an MBA from Claremont Graduate School. He is a CFA® charterholder. | |
Carleton
J. Muench, CFA |
Vice President of Pacific Life and PLFA since 2014, Vice President of Pacific Funds and Assistant Vice President of Pacific Select Fund since 2006, and Portfolio Manager since 2006. Mr. Muench is responsible for the investment oversight relating to Pacific Select Fund, Pacific Funds and asset allocation services. He began his investment career in 1998 and has a BS and an MS from Northeastern University. He is a CFA® charterholder. | |
Samuel
S. Park |
Director of Pacific Life and Director of fundamental research of PLFA since 2017, and Portfolio Manager since 2013. Mr. Park is responsible for managing the asset allocation function related to Pacific Funds and Pacific Select Fund. He began his investment career in 1999 and has a BA from Boston University. | |
Edward
Sheng, PhD, CFA, CAIA |
Portfolio Manager of PLFA since 2021, Director of Pacific Life and Director of Quantitative Research of PLFA since 2018 and Quantitative Researcher of PLFA since 2016. Mr. Sheng is responsible for designing advanced quantitative models that help guide the asset allocation decisions for Pacific Funds and Pacific Select Fund. He is also responsible for strategic asset allocation investment decisions. He began his investment career in 2013 and has a Ph.D. from Arizona State University, an MS degree from the University of California, Los Angeles, and a BS from Nanjing University. He is a CFA® charterholder and a CAIA charterholder. |
Aristotle Pacific Capital, LLC | ||
840
Newport Center Drive, 7th floor, Newport Beach, CA 92660
Aristotle
Pacific Capital LLC (formerly Pacific Asset Management LLC) (“Aristotle
Pacific”) is a registered investment adviser that provides investment
services to a variety of clients. Aristotle Pacific is the investment
sub-adviser to the Funds listed below. As of December 31, 2022,
Aristotle Pacific’s total assets under management were approximately $20.2
billion. | ||
ARISTOTLE
ULTRA SHORT INCOME FUND
ARISTOTLE
ESG CORE BOND FUND | ||
David
Weismiller, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Weismiller is the Lead Portfolio Manager for the Short Duration, Core Plus and Investment Grade Strategies. As the Lead Portfolio Manager, he has final authority over all aspects of the Fund’s portfolio, including security selection sector allocation and risk positioning. In addition, Mr. Weismiller covers the utilities sector. Prior to Aristotle Pacific, Mr. Weismiller was Managing Director and Portfolio Manager of Pacific Asset Management since 2007. He began his investment career in 1997 and has a BA from the University of California, Santa Barbara and an MBA from the University of California, Irvine. He is a CFA® charterholder. | |
Ying
Qiu, CFA |
Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC. Ms. Qiu is a Co-Portfolio Manager on various investment grade portfolios and has credit research responsibilities focusing on asset-backed securities (“ABS”). Prior to Aristotle Pacific, Ms. Qiu was Managing Director and Portfolio Manager of Pacific Asset Management since 2016. Prior to joining Pacific Asset Management, Ms. Qiu was a Senior Vice President, Portfolio Manager and Trader for both investment grade corporate and ABS with PIMCO since 2008. Ms. Qiu began her investment career in 1997 and has a BA from Renmin University of China and an MBA from the Emory University. He is a CFA® charterholder. |
ARISTOTLE SHORT DURATION INCOME FUND | ||
David
Weismiller, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Weismiller is the Lead Portfolio Manager for the Short Duration, Core Plus and Investment Grade Strategies. As the Lead Portfolio Manager, he has final authority over all aspects of the Fund’s portfolio, including security selection sector allocation and risk positioning. In addition, Mr. Weismiller covers the utilities sector. Prior to Aristotle Pacific, Mr. Weismiller was Managing Director and Portfolio Manager of Pacific Asset Management since 2007. He began his investment career in 1997 and has a BA from the University of California, Santa Barbara and an MBA from the University of California, Irvine. He is a CFA® charterholder. | |
Michael
Marzouk, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Marzouk is a Portfolio Manager to Aristotle Pacific’s corporate (bank) loan strategy. Prior to Aristotle Pacific, Mr, Marzouk was Managing Director and Portfolio Manager of Pacific Asset Management since 2007. He began his investment career in 1997 and has a BA from the University of California, Los Angeles and an MBA from the Anderson School of Management. He is a CFA® charterholder. | |
Ying
Qiu, CFA |
Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC. Ms. Qiu is a Co-Portfolio Manager on various investment grade portfolios and has credit research responsibilities focusing on asset-backed securities (“ABS”). Prior to Aristotle Pacific, Ms. Qiu was Managing Director and Portfolio Manager of Pacific Asset Management since 2016. Prior to joining Pacific Asset Management, Ms. Qiu was a Senior Vice President, Portfolio Manager and Trader for both investment grade corporate and ABS with PIMCO since 2008. Ms. Qiu began her investment career in 1997 and has a BA from Renmin University of China and an MBA from the Emory University. He is a CFA® charterholder. | |
ARISTOTLE CORE INCOME FUND | ||
David
Weismiller, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Weismiller is the Lead Portfolio Manager for the Short Duration, Core Plus and Investment Grade Strategies. As the Lead Portfolio Manager, he has final authority over all aspects of the Fund’s portfolio, including security selection sector allocation and risk positioning. In addition, Mr. Weismiller covers the utilities sector. Prior to Aristotle Pacific, Mr. Weismiller was Managing Director and Portfolio Manager of Pacific Asset Management since 2007. He began his investment career in 1997 and has a BA from the University of California, Santa Barbara and an MBA from the University of California, Irvine. He is a CFA® charterholder. | |
Michael
Marzouk, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Marzouk is a Portfolio Manager to Aristotle Pacific’s corporate (bank) loan strategy. Prior to Aristotle Pacific, Mr, Marzouk was Managing Director and Portfolio Manager of Pacific Asset Management since 2007. He began his investment career in 1997 and has a BA from the University of California, Los Angeles and an MBA from the Anderson School of Management. He is a CFA® charterholder. | |
Brian
M. Robertson, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Robertson also provides research and analysis of investments in the forest products, paper and packaging sectors. Prior to Aristotle Pacific, Mr. Robertson was Managing Director of Pacific Asset Management since 2012 and Portfolio Manager of Pacific Asset Management since 2008. He began his investment career in 2003 and has a BA from the University of Michigan. He is a CFA® charterholder. | |
Ying
Qiu, CFA |
Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC. Ms. Qiu is a Co-Portfolio Manager on various investment grade portfolios and has credit research responsibilities focusing on asset-backed securities (“ABS”). Prior to Aristotle Pacific, Ms. Qiu was Managing Director and Portfolio Manager of Pacific Asset Management since 2016. Prior to joining Pacific Asset Management, Ms. Qiu was a Senior Vice President, Portfolio Manager and Trader for both investment grade corporate and ABS with PIMCO since 2008. Ms. Qiu began her investment career in 1997 and has a BA from Renmin University of China and an MBA from the Emory University. He is a CFA® charterholder. | |
ARISTOTLE STRATEGIC INCOME FUND | ||
Brian
M. Robertson, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Robertson also provides research and analysis of investments in the forest products, paper and packaging sectors. Prior to Aristotle Pacific, Mr. Robertson was Managing Director of Pacific Asset Management since 2012 and Portfolio Manager of Pacific Asset Management since 2008. He began his investment career in 2003 and has a BA from the University of Michigan. He is a CFA® charterholder. |
Michael
Marzouk, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Marzouk is a Portfolio Manager to Aristotle Pacific’s corporate (bank) loan strategy. Prior to Aristotle Pacific, Mr, Marzouk was Managing Director and Portfolio Manager of Pacific Asset Management since 2007. He began his investment career in 1997 and has a BA from the University of California, Los Angeles and an MBA from the Anderson School of Management. He is a CFA® charterholder. | |
David
Weismiller, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Weismiller is the Lead Portfolio Manager for the Short Duration, Core Plus and Investment Grade Strategies. As the Lead Portfolio Manager, he has final authority over all aspects of the Fund’s portfolio, including security selection sector allocation and risk positioning. In addition, Mr. Weismiller covers the utilities sector. Prior to Aristotle Pacific, Mr. Weismiller was Managing Director and Portfolio Manager of Pacific Asset Management since 2007. He began his investment career in 1997 and has a BA from the University of California, Santa Barbara and an MBA from the University of California, Irvine. He is a CFA® charterholder. | |
ARISTOTLE FLOATING RATE INCOME FUND | ||
J.P.
Leasure |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. In addition to serving as a Portfolio Manager to Aristotle Pacific’s corporate (bank) loan strategy, Mr. Leasure has responsibility for overseeing REITs. Prior to Aristotle Pacific, Mr. Leasure was Senior Managing Director and Portfolio Manager of Pacific Asset Management since 2007. He began his investment career in 1995 and has a BA from the University of California, Los Angeles and an MBA from Columbia University. | |
Michael
Marzouk, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Marzouk is a Portfolio Manager to Aristotle Pacific’s corporate (bank) loan strategy. Prior to Aristotle Pacific, Mr, Marzouk was Managing Director and Portfolio Manager of Pacific Asset Management since 2007. He began his investment career in 1997 and has a BA from the University of California, Los Angeles and an MBA from the Anderson School of Management. He is a CFA® charterholder. | |
ARISTOTLE HIGH YIELD BOND FUND | ||
Brian
M. Robertson, CFA |
Senior Managing Director and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Robertson also provides research and analysis of investments in the forest products, paper and packaging sectors. Prior to Aristotle Pacific, Mr. Robertson was Managing Director of Pacific Asset Management since 2012 and Portfolio Manager of Pacific Asset Management since 2008. He began his investment career in 2003 and has a BA from the University of Michigan. He is a CFA® charterholder. | |
C.
Robert Boyd |
Senior Managing Director, Head of Credit Research and Portfolio Manager of Aristotle Pacific Capital, LLC since 2023. Mr. Boyd has responsibility for overseeing all credit research activities for Pacific Asset Management. Mr. Boyd is a member of the high yield portfolio management team and provides research and analysis of investments in the leisure sector. Prior to Aristotle Pacific, Mr. Boyd was Managing Director of Pacific Asset Management since 2017 and Portfolio Manager of Pacific Asset Management since 2014. Prior to joining Pacific Asset Management, he was a vice president, Credit Analyst and Bank Loan Portfolio Manager at PIMCO since 1998. He began his investment career in 1998 and has a BA from California State University, Long Beach and an MBA from the University of Southern California. |
Aristotle Capital Boston, LLC | ||
One
Federal Street, 36th Floor, Boston, Massachusetts 02110
Aristotle
Capital Boston, LLC (“Aristotle Boston”) is registered with the SEC as an
investment adviser and provides investment advice to institutional and
high net worth clients. Aristotle Boston is the sub-adviser to the Funds
listed below. Aristotle Boston had approximately $3.2 billion in assets
under management as of December 31, 2022. | ||
ARISTOTLE
SMALL/MID CAP EQUITY FUND
ARISTOTLE
SMALL CAP EQUITY FUND II | ||
David
M. Adams, CFA |
Principal, Chief Executive Officer and Portfolio Manager, as well as a member of Aristotle Boston’s investment team since 2015. Prior to joining Aristotle Boston, Mr. Adams served as Managing Director and Portfolio Co-Manager at Eagle Boston Investment Management (“Eagle Boston”) from 2006 to 2014. Prior to working for Eagle Boston, he served as Vice President and Portfolio Manager at Pioneer Investment Management, Inc. Mr. Adams began his investment career in 1990. Mr. Adams holds a Bachelor of Science degree in Finance and Economics and a Master of Science degree in Finance from Boston College. He is a CFA® charterholder. | |
Jack
McPherson, CFA |
Principal, President and Portfolio Manager, as well as a member of Aristotle Boston’s investment team since 2015. Prior to joining Aristotle Boston, Mr. McPherson served as Managing Director and Portfolio Co-Manager at Eagle Boston from 2006 to 2014. Prior to working for Eagle Boston, Mr. McPherson served as Vice President and Portfolio Manager at Pioneer Investment Management, Inc. (“Pioneer”). Before working for Pioneer, he was a Security Analyst at Middleton & Company, Inc.; a Vice President and Equity Analyst at Evergreen Investment Management Company, LLC; and an Equity Analyst at Pell, Rudman & Company, Inc. Mr. McPherson began his investment career in 1988. Mr. McPherson holds a Bachelor of Science degree in Finance from Northeastern University and a Master of Business Administration from Babson College. He is a CFA® charterholder. |
Fund | Selected Per Share Data | Ratios to Average Net Assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||
For
the Year or Period Ended (1) |
Net Asset Value, Beginning of Year or Period |
Investment Operations | Distributions | Net Asset Value, End of Year or Period |
Expenses Before Reductions (3) |
Expenses After Reductions (3), (4) |
Net Investment Income (Loss) (3) |
Total Returns (5) |
Net Assets, End of Year or Period (in thousands) |
Portfolio Turnover Rates |
||||||||||||||||||||||||||||||||||||||||||||||
Net Investment Income (Loss)(2) |
Net Realized and Unrealized Gain (Loss) |
Total | Net Investment Income |
Capital Gains |
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Pacific Funds Portfolio Optimization
Conservative (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022 ‑ 9/30/2022 (7) |
$ | 10.77 | $ | 0.02 | ($ | 1.39 | ) | ($ | 1.37 | ) | $ | — | $ | — | $ | — | $ | 9.40 | 0.68 | % | 0.60 | % | 0.33 | % | (12.72 | %) | $ | 142,078 | 12 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.46 | 0.18 | (0.39 | ) | (0.21 | ) | (0.28 | ) | (0.20 | ) | (0.48 | ) | 10.77 | 0.67 | % | 0.60 | % | 1.53 | % | (2.13 | %) | 174,061 | 20 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.83 | 0.16 | 1.80 | 1.96 | (0.33 | ) | — | (0.33 | ) | 11.46 | 0.67 | % | 0.60 | % | 1.47 | % | 19.96 | % | 191,406 | 37 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.23 | 0.17 | (0.35 | ) | (0.18 | ) | (0.20 | ) | (0.02 | ) | (0.22 | ) | 9.83 | 0.68 | % | 0.60 | % | 1.60 | % | (1.95 | %) | 159,186 | 22 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
11.24 | 0.20 | (0.04 | ) | 0.16 | (0.21 | ) | (0.96 | ) | (1.17 | ) | 10.23 | 0.68 | % | 0.60 | % | 1.83 | % | 1.88 | % | 121,012 | 30 | % | |||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.98 | 0.25 | 0.26 | 0.51 | (0.25 | ) | — | (0.25 | ) | 11.24 | 0.68 | % | 0.60 | % | 2.18 | % | 4.60 | % | 131,023 | 30 | % | |||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022
(7) |
$ | 10.44 | ($ | 0.02 | ) | ($ | 1.34 | ) | ($ | 1.36 | ) | $ | — | $ | — | $ | — | $ | 9.08 | 1.43 | % | 1.35 | % | (0.42 | %) | (13.03 | %) | $ | 27,102 | 12 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.14 | 0.09 | (0.38 | ) | (0.29 | ) | (0.21 | ) | (0.20 | ) | (0.41 | ) | 10.44 | 1.42 | % | 1.35 | % | 0.78 | % | (2.85 | %) | 37,841 | 20 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.59 | 0.08 | 1.74 | 1.82 | (0.27 | ) | — | (0.27 | ) | 11.14 | 1.42 | % | 1.35 | % | 0.72 | % | 18.96 | % | 46,869 | 37 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.97 | 0.09 | (0.35 | ) | (0.26 | ) | (0.10 | ) | (0.02 | ) | (0.12 | ) | 9.59 | 1.43 | % | 1.35 | % | 0.86 | % | (2.72 | %) | 46,909 | 22 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
11.00 | 0.11 | (0.03 | ) | 0.08 | (0.15 | ) | (0.96 | ) | (1.11 | ) | 9.97 | 1.43 | % | 1.35 | % | 1.08 | % | 1.13 | % | 111,233 | 30 | % | |||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.76 | 0.16 | 0.26 | 0.42 | (0.18 | ) | — | (0.18 | ) | 11.00 | 1.43 | % | 1.35 | % | 1.43 | % | 3.89 | % | 137,036 | 30 | % |
Fund | Selected Per Share Data | Ratios to Average Net Assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||
For
the Year or Period Ended (1) |
Net Asset Value, Beginning of Year or Period |
Investment Operations | Distributions | Net Asset Value, End of Year or Period |
Expenses Before Reductions (3) |
Expenses After Reductions (3), (4) |
Net Investment Income (Loss) (3) |
Total Returns (5) |
Net Assets, End of Year or Period (in thousands) |
Portfolio Turnover Rates |
||||||||||||||||||||||||||||||||||||||||||||||
Net Investment Income (Loss)(2) |
Net Realized and Unrealized Gain (Loss) |
Total | Net Investment Income |
Capital Gains |
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022 ‑ 9/30/2022 (7) |
$ | 10.84 | $ | 0.03 | ($ | 1.40 | ) | ($ | 1.37 | ) | $ | — | $ | — | $ | — | $ | 9.47 | 0.43 | % | 0.35 | % | 0.58 | % | (12.64 | %) | $ | 7,197 | 12 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.52 | 0.21 | (0.39 | ) | (0.18 | ) | (0.30 | ) | (0.20 | ) | (0.50 | ) | 10.84 | 0.42 | % | 0.35 | % | 1.78 | % | (1.84 | %) | 13,647 | 20 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.88 | 0.19 | 1.80 | 1.99 | (0.35 | ) | — | (0.35 | ) | 11.52 | 0.42 | % | 0.35 | % | 1.72 | % | 20.17 | % | 11,299 | 37 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.26 | 0.20 | (0.35 | ) | (0.15 | ) | (0.21 | ) | (0.02 | ) | (0.23 | ) | 9.88 | 0.43 | % | 0.35 | % | 1.85 | % | (1.68 | %) | 6,994 | 22 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
11.26 | 0.22 | (0.03 | ) | 0.19 | (0.23 | ) | (0.96 | ) | (1.19 | ) | 10.26 | 0.43 | % | 0.35 | % | 2.08 | % | 2.26 | % | 6,893 | 30 | % | |||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.00 | 0.28 | 0.25 | 0.53 | (0.27 | ) | — | (0.27 | ) | 11.26 | 0.43 | % | 0.35 | % | 2.43 | % | 4.79 | % | 8,135 | 30 | % | |||||||||||||||||||||||||||||||||||
Pacific Funds Portfolio Optimization
Moderate-Conservative (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 11.62 | $ | 0.01 | ($ | 1.77 | ) | ($ | 1.76 | ) | $ | — | $ | — | $ | — | $ | 9.86 | 0.66 | % | 0.60 | % | 0.12 | % | (15.15 | %) | $ | 209,887 | 10 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
12.52 | 0.15 | (0.20 | ) | (0.05 | ) | (0.29 | ) | (0.56 | ) | (0.85 | ) | 11.62 | 0.65 | % | 0.60 | % | 1.14 | % | (0.83 | %) | 262,457 | 19 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.95 | 0.15 | 2.74 | 2.89 | (0.32 | ) | — | (0.32 | ) | 12.52 | 0.66 | % | 0.60 | % | 1.25 | % | 29.06 | % | 283,474 | 28 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.70 | 0.17 | (0.66 | ) | (0.49 | ) | (0.22 | ) | (0.04 | ) | (0.26 | ) | 9.95 | 0.67 | % | 0.60 | % | 1.55 | % | (4.94 | %) | 231,749 | 20 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
12.58 | 0.18 | (0.06 | ) | 0.12 | (0.20 | ) | (1.80 | ) | (2.00 | ) | 10.70 | 0.68 | % | 0.60 | % | 1.55 | % | 1.91 | % | 199,827 | 45 | % | |||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
12.21 | 0.25 | 0.53 | 0.78 | (0.27 | ) | (0.14 | ) | (0.41 | ) | 12.58 | 0.67 | % | 0.60 | % | 1.95 | % | 6.36 | % | 227,420 | 30 | % | ||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 11.29 | ($ | 0.03 | ) | ($ | 1.72 | ) | ($ | 1.75 | ) | $ | — | $ | — | $ | — | $ | 9.54 | 1.41 | % | 1.35 | % | (0.63 | %) | (15.50 | %) | $ | 21,279 | 10 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
12.20 | 0.05 | (0.18 | ) | (0.13 | ) | (0.22 | ) | (0.56 | ) | (0.78 | ) | 11.29 | 1.41 | % | 1.35 | % | 0.39 | % | (1.54 | %) | 31,538 | 19 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.72 | 0.06 | 2.66 | 2.72 | (0.24 | ) | — | (0.24 | ) | 12.20 | 1.41 | % | 1.35 | % | 0.50 | % | 28.06 | % | 45,349 | 28 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.44 | 0.09 | (0.66 | ) | (0.57 | ) | (0.11 | ) | (0.04 | ) | (0.15 | ) | 9.72 | 1.42 | % | 1.35 | % | 0.80 | % | (5.63 | %) | 48,929 | 20 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
12.34 | 0.09 | (0.06 | ) | 0.03 | (0.13 | ) | (1.80 | ) | (1.93 | ) | 10.44 | 1.43 | % | 1.35 | % | 0.80 | % | 1.11 | % | 136,522 | 45 | % | |||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
12.00 | 0.15 | 0.52 | 0.67 | (0.19 | ) | (0.14 | ) | (0.33 | ) | 12.34 | 1.42 | % | 1.35 | % | 1.20 | % | 5.60 | % | 174,766 | 30 | % | ||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 11.70 | $ | 0.02 | ($ | 1.78 | ) | ($ | 1.76 | ) | $ | — | $ | — | $ | — | $ | 9.94 | 0.41 | % | 0.35 | % | 0.37 | % | (15.04 | %) | $ | 4,829 | 10 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
12.60 | 0.18 | (0.20 | ) | (0.02 | ) | (0.32 | ) | (0.56 | ) | (0.88 | ) | 11.70 | 0.40 | % | 0.35 | % | 1.39 | % | (0.64 | %) | 6,710 | 19 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.00 | 0.18 | 2.76 | 2.94 | (0.34 | ) | — | (0.34 | ) | 12.60 | 0.41 | % | 0.35 | % | 1.50 | % | 29.44 | % | 6,126 | 28 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.75 | 0.20 | (0.67 | ) | (0.47 | ) | (0.24 | ) | (0.04 | ) | (0.28 | ) | 10.00 | 0.42 | % | 0.35 | % | 1.80 | % | (4.67 | %) | 5,659 | 20 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
12.62 | 0.21 | (0.06 | ) | 0.15 | (0.22 | ) | (1.80 | ) | (2.02 | ) | 10.75 | 0.42 | % | 0.35 | % | 1.80 | % | 2.10 | % | 7,701 | 45 | % | |||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
12.24 | 0.28 | 0.53 | 0.81 | (0.29 | ) | (0.14 | ) | (0.43 | ) | 12.62 | 0.42 | % | 0.35 | % | 2.20 | % | 6.62 | % | 5,196 | 30 | % | ||||||||||||||||||||||||||||||||||
Pacific Funds Portfolio Optimization
Moderate
(6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 13.33 | ($ | 0.00 | )(8) | ($ | 2.34 | ) | ($ | 2.34 | ) | $ | — | $ | — | $ | — | $ | 10.99 | 0.63 | % | 0.60 | % | (0.08 | %) | (17.55 | %) | $ | 658,474 | 12 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
14.35 | 0.10 | 0.11 | 0.21 | (0.36 | ) | (0.87 | ) | (1.23 | ) | 13.33 | 0.63 | % | 0.60 | % | 0.68 | % | 0.92 | % | 845,027 | 20 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.60 | 0.12 | 4.06 | 4.18 | (0.32 | ) | (0.11 | ) | (0.43 | ) | 14.35 | 0.64 | % | 0.60 | % | 0.95 | % | 39.61 | % | 897,486 | 27 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
12.01 | 0.17 | (0.95 | ) | (0.78 | ) | (0.19 | ) | (0.44 | ) | (0.63 | ) | 10.60 | 0.66 | % | 0.60 | % | 1.38 | % | (7.24 | %) | 714,447 | 19 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
14.26 | 0.16 | 0.04 | 0.20 | (0.23 | ) | (2.22 | ) | (2.45 | ) | 12.01 | 0.66 | % | 0.60 | % | 1.17 | % | 2.49 | % | 652,731 | 41 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
13.67 | 0.20 | 0.94 | 1.14 | (0.24 | ) | (0.31 | ) | (0.55 | ) | 14.26 | 0.66 | % | 0.60 | % | 1.40 | % | 8.36 | % | 690,689 | 36 | % | ||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 12.98 | ($ | 0.05 | ) | ($ | 2.27 | ) | ($ | 2.32 | ) | $ | — | $ | — | $ | — | $ | 10.66 | 1.39 | % | 1.35 | % | (0.83 | %) | (17.87 | %) | $ | 74,199 | 12 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
14.03 | (0.01 | ) | 0.11 | 0.10 | (0.28 | ) | (0.87 | ) | (1.15 | ) | 12.98 | 1.38 | % | 1.35 | % | (0.07 | %) | 0.14 | % | 107,229 | 20 | % | |||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.39 | 0.03 | 3.96 | 3.99 | (0.24 | ) | (0.11 | ) | (0.35 | ) | 14.03 | 1.39 | % | 1.35 | % | 0.20 | % | 38.56 | % | 143,244 | 27 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
11.77 | 0.08 | (0.94 | ) | (0.86 | ) | (0.08 | ) | (0.44 | ) | (0.52 | ) | 10.39 | 1.41 | % | 1.35 | % | 0.63 | % | (7.97 | %) | 142,846 | 19 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
14.04 | 0.05 | 0.06 | 0.11 | (0.16 | ) | (2.22 | ) | (2.38 | ) | 11.77 | 1.41 | % | 1.35 | % | 0.42 | % | 1.78 | % | 381,170 | 41 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
13.50 | 0.09 | 0.92 | 1.01 | (0.16 | ) | (0.31 | ) | (0.47 | ) | 14.04 | 1.41 | % | 1.35 | % | 0.65 | % | 7.47 | % | 465,913 | 36 | % | ||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 13.41 | $ | 0.01 | ($ | 2.35 | ) | ($ | 2.34 | ) | $ | — | $ | — | $ | — | $ | 11.07 | 0.38 | % | 0.35 | % | 0.17 | % | (17.45 | %) | $ | 23,141 | 12 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
14.42 | 0.14 | 0.11 | 0.25 | (0.39 | ) | (0.87 | ) | (1.26 | ) | 13.41 | 0.38 | % | 0.35 | % | 0.93 | % | 1.17 | % | 30,378 | 20 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.64 | 0.16 | 4.07 | 4.23 | (0.34 | ) | (0.11 | ) | (0.45 | ) | 14.42 | 0.39 | % | 0.35 | % | 1.20 | % | 39.99 | % | 35,732 | 27 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
12.05 | 0.20 | (0.96 | ) | (0.76 | ) | (0.21 | ) | (0.44 | ) | (0.65 | ) | 10.64 | 0.41 | % | 0.35 | % | 1.63 | % | (7.07 | %) | 21,729 | 19 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
14.29 | 0.19 | 0.04 | 0.23 | (0.25 | ) | (2.22 | ) | (2.47 | ) | 12.05 | 0.41 | % | 0.35 | % | 1.42 | % | 2.75 | % | 26,959 | 41 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
13.69 | 0.24 | 0.94 | 1.18 | (0.27 | ) | (0.31 | ) | (0.58 | ) | 14.29 | 0.41 | % | 0.35 | % | 1.65 | % | 8.54 | % | 23,088 | 36 | % | ||||||||||||||||||||||||||||||||||
Pacific Funds Portfolio Optimization
Growth (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 14.33 | ($ | 0.01 | ) | ($ | 2.79 | ) | ($ | 2.80 | ) | $ | — | $ | — | $ | — | $ | 11.53 | 0.64 | % | 0.60 | % | (0.20 | %) | (19.54 | %) | $ | 548,726 | 13 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
15.50 | 0.07 | 0.39 | 0.46 | (0.40 | ) | (1.23 | ) | (1.63 | ) | 14.33 | 0.64 | % | 0.60 | % | 0.46 | % | 2.22 | % | 712,010 | 19 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.59 | 0.11 | 5.19 | 5.30 | (0.23 | ) | (0.16 | ) | (0.39 | ) | 15.50 | 0.64 | % | 0.60 | % | 0.80 | % | 50.27 | % | 743,213 | 28 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
12.77 | 0.19 | (1.45 | ) | (1.26 | ) | (0.22 | ) | (0.70 | ) | (0.92 | ) | 10.59 | 0.66 | % | 0.60 | % | 1.45 | % | (11.24 | %) | 544,605 | 18 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
15.46 | 0.12 | 0.13 | 0.25 | (0.21 | ) | (2.73 | ) | (2.94 | ) | 12.77 | 0.66 | % | 0.60 | % | 0.84 | % | 2.92 | % | 529,247 | 53 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
14.61 | 0.18 | 1.30 | 1.48 | (0.23 | ) | (0.40 | ) | (0.63 | ) | 15.46 | 0.66 | % | 0.60 | % | 1.14 | % | 10.10 | % | 555,328 | 39 | % | ||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 13.86 | ($ | 0.06 | ) | ($ | 2.70 | ) | ($ | 2.76 | ) | $ | — | $ | — | $ | — | $ | 11.10 | 1.39 | % | 1.35 | % | (0.95 | %) | (19.91 | %) | $ | 65,231 | 13 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
15.06 | (0.04 | ) | 0.38 | 0.34 | (0.31 | ) | (1.23 | ) | (1.54 | ) | 13.86 | 1.39 | % | 1.35 | % | (0.29 | %) | 1.51 | % | 89,501 | 19 | % | |||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.33 | 0.01 | 5.03 | 5.04 | (0.15 | ) | (0.16 | ) | (0.31 | ) | 15.06 | 1.39 | % | 1.35 | % | 0.05 | % | 48.99 | % | 116,482 | 28 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
12.45 | 0.09 | (1.41 | ) | (1.32 | ) | (0.10 | ) | (0.70 | ) | (0.80 | ) | 10.33 | 1.41 | % | 1.35 | % | 0.70 | % | (11.81 | %) | 100,768 | 18 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
15.18 | 0.01 | 0.13 | 0.14 | (0.14 | ) | (2.73 | ) | (2.87 | ) | 12.45 | 1.42 | % | 1.35 | % | 0.08 | % | 2.12 | % | 271,000 | 53 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
14.38 | 0.06 | 1.28 | 1.34 | (0.14 | ) | (0.40 | ) | (0.54 | ) | 15.18 | 1.41 | % | 1.35 | % | 0.39 | % | 9.29 | % | 317,342 | 39 | % | ||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 14.44 | $ | 0.00 | (8) | ($ | 2.81 | ) | ($ | 2.81 | ) | $ | — | $ | — | $ | — | $ | 11.63 | 0.39 | % | 0.35 | % | 0.05 | % | (19.46 | %) | $ | 16,019 | 13 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
15.60 | 0.11 | 0.39 | 0.50 | (0.43 | ) | (1.23 | ) | (1.66 | ) | 14.44 | 0.39 | % | 0.35 | % | 0.71 | % | 2.46 | % | 19,833 | 19 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.65 | 0.14 | 5.23 | 5.37 | (0.26 | ) | (0.16 | ) | (0.42 | ) | 15.60 | 0.39 | % | 0.35 | % | 1.05 | % | 50.62 | % | 20,137 | 28 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
12.82 | 0.22 | (1.45 | ) | (1.23 | ) | (0.24 | ) | (0.70 | ) | (0.94 | ) | 10.65 | 0.41 | % | 0.35 | % | 1.70 | % | (10.98 | %) | 14,485 | 18 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
15.51 | 0.16 | 0.12 | 0.28 | (0.24 | ) | (2.73 | ) | (2.97 | ) | 12.82 | 0.41 | % | 0.35 | % | 1.09 | % | 3.12 | % | 19,458 | 53 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
14.64 | 0.22 | 1.31 | 1.53 | (0.26 | ) | (0.40 | ) | (0.66 | ) | 15.51 | 0.41 | % | 0.35 | % | 1.39 | % | 10.42 | % | 16,280 | 39 | % |
Fund | Selected Per Share Data | Ratios to Average Net Assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||
For
the Year or Period Ended (1) |
Net Asset Value, Beginning of Year or Period |
Investment Operations | Distributions | Net Asset Value, End of Year or Period |
Expenses Before Reductions (3) |
Expenses After Reductions (3), (4) |
Net Investment Income (Loss) (3) |
Total Returns (5) |
Net Assets, End of Year or Period (in thousands) |
Portfolio Turnover Rates |
||||||||||||||||||||||||||||||||||||||||||||||
Net Investment Income (Loss)(2) |
Net Realized and Unrealized Gain (Loss) |
Total | Net Investment Income |
Capital Gains |
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Pacific Funds Portfolio Optimization
Aggressive-Growth (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022 ‑ 9/30/2022 (7) |
$ | 16.37 | ($ | 0.03 | ) | ($ | 3.47 | ) | ($ | 3.50 | ) | $ | — | $ | — | $ | — | $ | 12.87 | 0.66 | % | 0.60 | % | (0.43 | %) | (21.38 | %) | $ | 207,320 | 12 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
17.62 | 0.02 | 0.63 | 0.65 | (0.52 | ) | (1.38 | ) | (1.90 | ) | 16.37 | 0.65 | % | 0.60 | % | 0.12 | % | 2.80 | % | 270,691 | 15 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
11.38 | 0.09 | 6.70 | 6.79 | (0.21 | ) | (0.34 | ) | (0.55 | ) | 17.62 | 0.66 | % | 0.60 | % | 0.56 | % | 60.05 | % | 275,818 | 31 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
14.25 | 0.19 | (1.89 | ) | (1.70 | ) | (0.23 | ) | (0.94 | ) | (1.17 | ) | 11.38 | 0.67 | % | 0.60 | % | 1.31 | % | (13.66 | %) | 191,505 | 19 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
17.03 | 0.10 | 0.25 | 0.35 | (0.25 | ) | (2.88 | ) | (3.13 | ) | 14.25 | 0.68 | % | 0.60 | % | 0.61 | % | 3.39 | % | 193,470 | 55 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
15.79 | 0.12 | 1.81 | 1.93 | (0.20 | ) | (0.49 | ) | (0.69 | ) | 17.03 | 0.68 | % | 0.60 | % | 0.74 | % | 12.17 | % | 189,903 | 41 | % | ||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 15.62 | ($ | 0.08 | ) | ($ | 3.31 | ) | ($ | 3.39 | ) | $ | — | $ | — | $ | — | $ | 12.23 | 1.41 | % | 1.35 | % | (1.18 | %) | (21.70 | %) | $ | 26,157 | 12 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
16.92 | (0.11 | ) | 0.60 | 0.49 | (0.41 | ) | (1.38 | ) | (1.79 | ) | 15.62 | 1.40 | % | 1.35 | % | (0.63 | %) | 2.04 | % | 35,333 | 15 | % | |||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.97 | (0.03 | ) | 6.45 | 6.42 | (0.13 | ) | (0.34 | ) | (0.47 | ) | 16.92 | 1.41 | % | 1.35 | % | (0.19 | %) | 58.83 | % | 43,705 | 31 | % | |||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
13.76 | 0.08 | (1.82 | ) | (1.74 | ) | (0.11 | ) | (0.94 | ) | (1.05 | ) | 10.97 | 1.42 | % | 1.35 | % | 0.56 | % | (14.25 | %) | 35,339 | 19 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
16.59 | (0.02 | ) | 0.24 | 0.22 | (0.17 | ) | (2.88 | ) | (3.05 | ) | 13.76 | 1.43 | % | 1.35 | % | (0.14 | %) | 2.57 | % | 85,434 | 55 | % | |||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
15.43 | (0.00 | )(8) | 1.75 | 1.75 | (0.10 | ) | (0.49 | ) | (0.59 | ) | 16.59 | 1.43 | % | 1.35 | % | (0.01 | %) | 11.39 | % | 97,877 | 41 | % | |||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 16.48 | ($ | 0.01 | ) | ($ | 3.49 | ) | ($ | 3.50 | ) | $ | — | $ | — | $ | — | $ | 12.98 | 0.41 | % | 0.35 | % | (0.18 | %) | (21.24 | %) | $ | 8,710 | 12 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
17.72 | 0.07 | 0.62 | 0.69 | (0.55 | ) | (1.38 | ) | (1.93 | ) | 16.48 | 0.40 | % | 0.35 | % | 0.37 | % | 3.02 | % | 10,940 | 15 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
11.44 | 0.12 | 6.74 | 6.86 | (0.24 | ) | (0.34 | ) | (0.58 | ) | 17.72 | 0.41 | % | 0.35 | % | 0.81 | % | 60.35 | % | 14,855 | 31 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
14.29 | 0.23 | (1.89 | ) | (1.66 | ) | (0.25 | ) | (0.94 | ) | (1.19 | ) | 11.44 | 0.42 | % | 0.35 | % | 1.56 | % | (13.34 | %) | 9,606 | 19 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
17.07 | 0.14 | 0.23 | 0.37 | (0.27 | ) | (2.88 | ) | (3.15 | ) | 14.29 | 0.43 | % | 0.35 | % | 0.86 | % | 3.57 | % | 10,860 | 55 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
15.82 | 0.17 | 1.80 | 1.97 | (0.23 | ) | (0.49 | ) | (0.72 | ) | 17.07 | 0.43 | % | 0.35 | % | 0.99 | % | 12.48 | % | 10,067 | 41 | % | ||||||||||||||||||||||||||||||||||
PF Growth Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
P |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 29.12 | ($ | 0.01 | ) | ($ | 7.10 | ) | ($ | 7.11 | ) | $ | — | $ | — | $ | — | $ | 22.01 | 0.80 | % | 0.70 | % | (0.07 | %) | (24.42 | %) | $ | 71,784 | 7 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
30.54 | (0.10 | ) | 3.07 | 2.97 | — | (4.39 | ) | (4.39 | ) | 29.12 | 0.77 | % | 0.70 | % | (0.30 | %) | 7.84 | % | 158,592 | 10 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
27.10 | (0.08 | ) | 13.51 | 13.43 | — | (9.99 | ) | (9.99 | ) | 30.54 | 0.78 | % | 0.70 | % | (0.24 | %) | 50.42 | % | 179,183 | 32 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
27.18 | (0.02 | ) | 0.93 | 0.91 | (0.00 | )(8) | (0.99 | ) | (0.99 | ) | 27.10 | 0.77 | % | 0.70 | % | (0.06 | %) | 3.04 | % | 163,575 | 20 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
25.38 | 0.00 | (8) | 3.62 | 3.62 | (0.01 | ) | (1.81 | ) | (1.82 | ) | 27.18 | 0.77 | % | 0.70 | % | 0.01 | % | 14.99 | % | 186,331 | 28 | % | |||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
20.94 | 0.04 | 5.33 | 5.37 | (0.04 | ) | (0.89 | ) | (0.93 | ) | 25.38 | 0.76 | % | 0.70 | % | 0.16 | % | 25.93 | % | 206,732 | 34 | % | ||||||||||||||||||||||||||||||||||
Pacific Funds Ultra Short Income (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
I |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.92 | $ | 0.10 | ($ | 0.12 | ) | ($ | 0.02 | ) | ($ | 0.09 | ) | $ | — | ($ | 0.09 | ) | $ | 9.81 | 0.63 | % | 0.32 | % | 1.96 | % | (0.21 | %) | $ | 12,905 | 20 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.07 | 0.06 | (0.10 | ) | (0.04 | ) | (0.07 | ) | (0.04 | ) | (0.11 | ) | 9.92 | 0.66 | % | 0.32 | % | 0.62 | % | (0.42 | %) | 12,929 | 75 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.65 | 0.12 | 0.44 | 0.56 | (0.12 | ) | (0.02 | ) | (0.14 | ) | 10.07 | 0.70 | % | 0.32 | % | 1.16 | % | 5.81 | % | 12,993 | 96 | % | ||||||||||||||||||||||||||||||||||
6/28/2019
- 3/31/2020 |
10.00 | 0.17 | (0.35 | ) | (0.18 | ) | (0.17 | ) | |
(0.00 |
) (8) |
(0.17 | ) | 9.65 | 0.87 | % | 0.32 | % | 2.27 | % | (1.81 | %) | 12,273 | 81 | % | |||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.92 | $ | 0.10 | ($ | 0.12 | ) | ($ | 0.02 | ) | ($ | 0.09 | ) | $ | — | ($ | 0.09 | ) | $ | 9.81 | 0.63 | % | 0.32 | % | 1.96 | % | (0.21 | %) | $ | 31,238 | 20 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.07 | 0.06 | (0.10 | ) | (0.04 | ) | (0.07 | ) | (0.04 | ) | (0.11 | ) | 9.92 | 0.66 | % | 0.32 | % | 0.62 | % | (0.42 | %) | 18,598 | 75 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.65 | 0.12 | 0.44 | 0.56 | (0.12 | ) | (0.02 | ) | (0.14 | ) | 10.07 | 0.69 | % | 0.32 | % | 1.16 | % | 5.81 | % | 18,449 | 96 | % | ||||||||||||||||||||||||||||||||||
6/28/2019
- 3/31/2020 |
10.00 | 0.17 | (0.35 | ) | (0.18 | ) | (0.17 | ) | (0.00 | ) (8) | (0.17 | ) | 9.65 | 0.97 | % | 0.32 | % | 2.27 | % | (1.81 | %) | 12,401 | 81 | % | ||||||||||||||||||||||||||||||||
Pacific Funds Short Duration Income
(6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.16 | $ | 0.09 | ($ | 0.33 | ) | ($ | 0.24 | ) | ($ | 0.09 | ) | $ | — | ($ | 0.09 | ) | $ | 9.83 | 0.87 | % | 0.75 | % | 1.76 | % | (2.39 | %) | $ | 149,114 | 27 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.57 | 0.12 | (0.31 | ) | (0.19 | ) | (0.12 | ) | (0.10 | ) | (0.22 | ) | 10.16 | 0.87 | % | 0.75 | % | 1.14 | % | (1.85 | %) | 174,444 | 60 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.05 | 0.16 | 0.52 | 0.68 | (0.16 | ) | — | (0.16 | ) | 10.57 | 0.88 | % | 0.75 | % | 1.50 | % | 6.78 | % | 204,761 | 76 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.30 | 0.24 | (0.25 | ) | (0.01 | ) | (0.24 | ) | — | (0.24 | ) | 10.05 | 0.99 | % | 0.75 | % | 2.33 | % | (0.13 | %) | 154,309 | 56 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.24 | 0.26 | 0.05 | 0.31 | (0.25 | ) | — | (0.25 | ) | 10.30 | 1.03 | % | 0.75 | % | 2.57 | % | 3.11 | % | 118,935 | 50 | % | |||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.32 | 0.21 | (0.09 | ) | 0.12 | (0.20 | ) | — | (0.20 | ) | 10.24 | 1.04 | % | 0.75 | % | 2.03 | % | 1.18 | % | 94,197 | 76 | % | ||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.14 | $ | 0.05 | ($ | 0.33 | ) | ($ | 0.28 | ) | ($ | 0.05 | ) | $ | — | ($ | 0.05 | ) | $ | 9.81 | 1.62 | % | 1.50 | % | 1.01 | % | (2.76 | %) | $ | 32,308 | 27 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.55 | 0.04 | (0.31 | ) | (0.27 | ) | (0.04 | ) | (0.10 | ) | (0.14 | ) | 10.14 | 1.62 | % | 1.50 | % | 0.39 | % | (2.59 | %) | 39,891 | 60 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.03 | 0.08 | 0.52 | 0.60 | (0.08 | ) | — | (0.08 | ) | 10.55 | 1.63 | % | 1.50 | % | 0.75 | % | 6.00 | % | 51,385 | 76 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.28 | 0.16 | (0.25 | ) | (0.09 | ) | (0.16 | ) | — | (0.16 | ) | 10.03 | 1.74 | % | 1.50 | % | 1.58 | % | (0.87 | %) | 48,816 | 56 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.22 | 0.19 | 0.05 | 0.24 | (0.18 | ) | — | (0.18 | ) | 10.28 | 1.78 | % | 1.50 | % | 1.82 | % | 2.35 | % | 46,167 | 50 | % | |||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.30 | 0.13 | (0.09 | ) | 0.04 | (0.12 | ) | — | (0.12 | ) | 10.22 | 1.79 | % | 1.50 | % | 1.28 | % | 0.43 | % | 44,337 | 76 | % | ||||||||||||||||||||||||||||||||||
Class
I |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.14 | $ | 0.10 | ($ | 0.33 | ) | ($ | 0.23 | ) | ($ | 0.10 | ) | $ | — | ($ | 0.10 | ) | $ | 9.81 | 0.62 | % | 0.45 | % | 2.06 | % | (2.24 | %) | $ | 192,413 | 27 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.56 | 0.15 | (0.32 | ) | (0.17 | ) | (0.15 | ) | (0.10 | ) | (0.25 | ) | 10.14 | 0.62 | % | 0.48 | % | 1.40 | % | (1.69 | %) | 171,154 | 60 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.03 | 0.18 | 0.54 | 0.72 | (0.19 | ) | — | (0.19 | ) | 10.56 | 0.63 | % | 0.50 | % | 1.75 | % | 7.16 | % | 141,974 | 76 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.29 | 0.27 | (0.26 | ) | 0.01 | (0.27 | ) | — | (0.27 | ) | 10.03 | 0.63 | % | 0.50 | % | 2.58 | % | 0.03 | % | 106,402 | 56 | % | ||||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.22 | 0.29 | 0.06 | 0.35 | (0.28 | ) | — | (0.28 | ) | 10.29 | 0.63 | % | 0.50 | % | 2.82 | % | 3.47 | % | 83,436 | 50 | % | |||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.30 | 0.24 | (0.09 | ) | 0.15 | (0.23 | ) | — | (0.23 | ) | 10.22 | 0.64 | % | 0.50 | % | 2.28 | % | 1.43 | % | 4,329 | 76 | % | ||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.16 | $ | 0.10 | ($ | 0.33 | ) | ($ | 0.23 | ) | ($ | 0.10 | ) | $ | — | ($ | 0.10 | ) | $ | 9.83 | 0.62 | % | 0.50 | % | 2.01 | % | (2.26 | %) | $ | 645,741 | 27 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.58 | 0.15 | (0.32 | ) | (0.17 | ) | (0.15 | ) | (0.10 | ) | (0.25 | ) | 10.16 | 0.62 | % | 0.50 | % | 1.39 | % | (1.70 | %) | 622,664 | 60 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.05 | 0.18 | 0.54 | 0.72 | (0.19 | ) | — | (0.19 | ) | 10.58 | 0.63 | % | 0.50 | % | 1.75 | % | 7.14 | % | 778,271 | 76 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.31 | 0.27 | (0.26 | ) | 0.01 | (0.27 | ) | — | (0.27 | ) | 10.05 | 0.73 | % | 0.50 | % | 2.58 | % | 0.02 | % | 717,804 | 56 | % | ||||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.24 | 0.29 | 0.06 | 0.35 | (0.28 | ) | — | (0.28 | ) | 10.31 | 0.78 | % | 0.50 | % | 2.82 | % | 3.46 | % | 483,476 | 50 | % | |||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.32 | 0.24 | (0.09 | ) | 0.15 | (0.23 | ) | — | (0.23 | ) | 10.24 | 0.79 | % | 0.50 | % | 2.28 | % | 1.43 | % | 272,268 | 76 | % |
Fund | Selected Per Share Data | Ratios to Average Net Assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||
For
the Year or Period Ended (1) |
Net Asset Value, Beginning of Year or Period |
Investment Operations | Distributions | Net Asset Value, End of Year or Period |
Expenses Before Reductions (3) |
Expenses After Reductions (3), (4) |
Net Investment Income (Loss) (3) |
Total Returns (5) |
Net Assets, End of Year or Period (in thousands) |
Portfolio Turnover Rates |
||||||||||||||||||||||||||||||||||||||||||||||
Net Investment Income (Loss)(2) |
Net Realized and Unrealized Gain (Loss) |
Total | Net Investment Income |
Capital Gains |
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Pacific Funds Core Income (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022 ‑ 9/30/2022 (7) |
$ | 10.41 | $ | 0.13 | ($ | 1.17 | ) | ($ | 1.04 | ) | ($ | 0.14 | ) | $ | — | ($ | 0.14 | ) | $ | 9.23 | 0.98 | % | 0.85 | % | 2.72 | % | (10.06 | %) | $ | 97,807 | 52 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.18 | 0.20 | (0.52 | ) | (0.32 | ) | (0.21 | ) | (0.24 | ) | (0.45 | ) | 10.41 | 0.97 | % | 0.85 | % | 1.83 | % | (3.11 | %) | 127,727 | 82 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.60 | 0.22 | 0.66 | 0.88 | (0.22 | ) | (0.08 | ) | (0.30 | ) | 11.18 | 0.98 | % | 0.85 | % | 1.95 | % | 8.29 | % | 160,701 | 102 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.52 | 0.29 | 0.08 | 0.37 | (0.29 | ) | — | (0.29 | ) | 10.60 | 1.09 | % | 0.85 | % | 2.70 | % | 3.51 | % | 140,650 | 70 | % | |||||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.45 | 0.33 | 0.07 | 0.40 | (0.33 | ) | — | (0.33 | ) | 10.52 | 1.13 | % | 0.85 | % | 3.22 | % | 3.99 | % | 82,136 | 93 | % | |||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.51 | 0.28 | (0.06 | ) | 0.22 | (0.28 | ) | — | (0.28 | ) | 10.45 | 1.12 | % | 0.85 | % | 2.62 | % | 2.05 | % | 132,006 | 91 | % | ||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.41 | $ | 0.10 | ($ | 1.17 | ) | ($ | 1.07 | ) | ($ | 0.10 | ) | $ | — | ($ | 0.10 | ) | $ | 9.24 | 1.73 | % | 1.60 | % | 1.97 | % | (10.31 | %) | $ | 25,552 | 52 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.18 | 0.12 | (0.53 | ) | (0.41 | ) | (0.12 | ) | (0.24 | ) | (0.36 | ) | 10.41 | 1.72 | % | 1.60 | % | 1.08 | % | (3.84 | %) | 35,731 | 82 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.60 | 0.14 | 0.66 | 0.80 | (0.14 | ) | (0.08 | ) | (0.22 | ) | 11.18 | 1.73 | % | 1.60 | % | 1.20 | % | 7.48 | % | 53,990 | 102 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.52 | 0.21 | 0.08 | 0.29 | (0.21 | ) | — | (0.21 | ) | 10.60 | 1.84 | % | 1.60 | % | 1.95 | % | 2.73 | % | 58,397 | 70 | % | |||||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.46 | 0.26 | 0.06 | 0.32 | (0.26 | ) | — | (0.26 | ) | 10.52 | 1.88 | % | 1.60 | % | 2.47 | % | 3.11 | % | 81,309 | 93 | % | |||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.51 | 0.20 | (0.05 | ) | 0.15 | (0.20 | ) | — | (0.20 | ) | 10.46 | 1.87 | % | 1.60 | % | 1.87 | % | 1.38 | % | 101,156 | 91 | % | ||||||||||||||||||||||||||||||||||
Class
I |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.42 | $ | 0.15 | ($ | 1.18 | ) | ($ | 1.03 | ) | ($ | 0.15 | ) | $ | — | ($ | 0.15 | ) | $ | 9.24 | 0.73 | % | 0.55 | % | 3.02 | % | (9.91 | %) | $ | 92,238 | 52 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.19 | 0.24 | (0.53 | ) | (0.29 | ) | (0.24 | ) | (0.24 | ) | (0.48 | ) | 10.42 | 0.72 | % | 0.55 | % | 2.13 | % | (2.81 | %) | 118,420 | 82 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.61 | 0.25 | 0.67 | 0.92 | (0.26 | ) | (0.08 | ) | (0.34 | ) | 11.19 | 0.73 | % | 0.55 | % | 2.25 | % | 8.61 | % | 107,857 | 102 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.53 | 0.33 | 0.07 | 0.40 | (0.32 | ) | — | (0.32 | ) | 10.61 | 0.73 | % | 0.55 | % | 3.00 | % | 3.81 | % | 60,355 | 70 | % | |||||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.46 | 0.36 | 0.08 | 0.44 | (0.37 | ) | — | (0.37 | ) | 10.53 | 0.73 | % | 0.55 | % | 3.52 | % | 4.30 | % | 26,394 | 93 | % | |||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.52 | 0.31 | (0.06 | ) | 0.25 | (0.31 | ) | — | (0.31 | ) | 10.46 | 0.72 | % | 0.55 | % | 2.92 | % | 2.35 | % | 4,339 | 91 | % | ||||||||||||||||||||||||||||||||||
Class
P |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.45 | $ | 0.15 | ($ | 1.18 | ) | ($ | 1.03 | ) | ($ | 0.15 | ) | $ | — | ($ | 0.15 | ) | $ | 9.27 | 0.73 | % | 0.55 | % | 3.02 | % | (9.88 | %) | $ | 31,718 | 52 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.23 | 0.24 | (0.54 | ) | (0.30 | ) | (0.24 | ) | (0.24 | ) | (0.48 | ) | 10.45 | 0.72 | % | 0.55 | % | 2.13 | % | (2.88 | %) | 34,896 | 82 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.64 | 0.26 | 0.67 | 0.93 | (0.26 | ) | (0.08 | ) | (0.34 | ) | 11.23 | 0.73 | % | 0.55 | % | 2.25 | % | 8.68 | % | 46,122 | 102 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.56 | 0.33 | 0.08 | 0.41 | (0.33 | ) | — | (0.33 | ) | 10.64 | 0.73 | % | 0.55 | % | 3.00 | % | 3.80 | % | 31,831 | 70 | % | |||||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.49 | 0.37 | 0.07 | 0.44 | (0.37 | ) | — | (0.37 | ) | 10.56 | 0.73 | % | 0.55 | % | 3.52 | % | 4.29 | % | 40,570 | 93 | % | |||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.55 | 0.31 | (0.07 | ) | 0.24 | (0.30 | ) | — | (0.30 | ) | 10.49 | 0.72 | % | 0.60 | % | 2.87 | % | 2.29 | % | 66,750 | 91 | % | ||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.43 | $ | 0.15 | ($ | 1.17 | ) | ($ | 1.02 | ) | ($ | 0.15 | ) | $ | — | ($ | 0.15 | ) | $ | 9.26 | 0.73 | % | 0.55 | % | 3.02 | % | (9.81 | %) | $ | 477,669 | 52 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.21 | 0.24 | (0.54 | ) | (0.30 | ) | (0.24 | ) | (0.24 | ) | (0.48 | ) | 10.43 | 0.72 | % | 0.55 | % | 2.13 | % | (2.89 | %) | 625,283 | 82 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
10.62 | 0.26 | 0.67 | 0.93 | (0.26 | ) | (0.08 | ) | (0.34 | ) | 11.21 | 0.73 | % | 0.55 | % | 2.25 | % | 8.70 | % | 801,154 | 102 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.54 | 0.33 | 0.08 | 0.41 | (0.33 | ) | — | (0.33 | ) | 10.62 | 0.84 | % | 0.55 | % | 3.00 | % | 3.81 | % | 679,287 | 70 | % | |||||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.48 | 0.36 | 0.07 | 0.43 | (0.37 | ) | — | (0.37 | ) | 10.54 | 0.88 | % | 0.55 | % | 3.52 | % | 4.19 | % | 393,645 | 93 | % | |||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.53 | 0.31 | (0.05 | ) | 0.26 | (0.31 | ) | — | (0.31 | ) | 10.48 | 0.87 | % | 0.55 | % | 2.92 | % | 2.45 | % | 388,730 | 91 | % | ||||||||||||||||||||||||||||||||||
Pacific Funds ESG Core Bond (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
I |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.17 | $ | 0.08 | ($ | 0.95 | ) | ($ | 0.87 | ) | ($ | 0.08 | ) | $ | — | ($ | 0.08 | ) | $ | 8.22 | 1.04 | % | 0.48 | % | 1.84 | % | (9.51 | %) | $ | 13,339 | 22 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
9.70 | 0.10 | (0.52 | ) | (0.42 | ) | (0.11 | ) | — | (0.11 | ) | 9.17 | 1.01 | % | 0.48 | % | 1.06 | % | (4.37 | %) | 14,534 | 51 | % | |||||||||||||||||||||||||||||||||
12/14/2020
- 3/31/2021 |
10.00 | 0.03 | (0.30 | ) | (0.27 | ) | (0.03 | ) | — | (0.03 | ) | 9.70 | 0.97 | % | 0.48 | % | 0.88 | % | (2.73 | %) | 12,156 | 26 | % | |||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.17 | $ | 0.08 | ($ | 0.95 | ) | ($ | 0.87 | ) | ($ | 0.08 | ) | $ | — | ($ | 0.08 | ) | $ | 8.22 | 1.04 | % | 0.48 | % | 1.84 | % | (9.51 | %) | $ | 10,523 | 22 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
9.70 | 0.10 | (0.52 | ) | (0.42 | ) | (0.11 | ) | — | (0.11 | ) | 9.17 | 1.01 | % | 0.48 | % | 1.06 | % | (4.37 | %) | 11,626 | 51 | % | |||||||||||||||||||||||||||||||||
12/14/2020
- 3/31/2021 |
10.00 | 0.03 | (0.30 | ) | (0.27 | ) | (0.03 | ) | — | (0.03 | ) | 9.70 | 0.97 | % | 0.48 | % | 0.88 | % | (2.73 | %) | 12,156 | 26 | % | |||||||||||||||||||||||||||||||||
Pacific Funds Strategic Income (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.96 | $ | 0.20 | ($ | 1.25 | ) | ($ | 1.05 | ) | ($ | 0.20 | ) | $ | — | ($ | 0.20 | ) | $ | 9.71 | 1.07 | % | 0.94 | % | 3.89 | % | (9.68 | %) | $ | 109,493 | 20 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.52 | 0.33 | (0.47 | ) | (0.14 | ) | (0.32 | ) | (0.10 | ) | (0.42 | ) | 10.96 | 1.07 | % | 0.94 | % | 2.85 | % | (1.30 | %) | 134,612 | 40 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.72 | 0.40 | 1.79 | 2.19 | (0.39 | ) | — | (0.39 | ) | 11.52 | 1.08 | % | 0.95 | % | 3.57 | % | 22.82 | % | 104,659 | 86 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.60 | 0.43 | (0.88 | ) | (0.45 | ) | (0.43 | ) | — | (0.43 | ) | 9.72 | 1.19 | % | 0.95 | % | 3.94 | % | (4.58 | %) | 71,510 | 98 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.71 | 0.47 | (0.11 | ) | 0.36 | (0.47 | ) | — | (0.47 | ) | 10.60 | 1.23 | % | 0.95 | % | 4.43 | % | 3.43 | % | 61,503 | 99 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.68 | 0.40 | 0.02 | 0.42 | (0.39 | ) | — | (0.39 | ) | 10.71 | 1.23 | % | 0.95 | % | 3.70 | % | 3.95 | % | 71,948 | 94 | % | |||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.93 | $ | 0.16 | ($ | 1.25 | ) | ($ | 1.09 | ) | ($ | 0.16 | ) | $ | — | ($ | 0.16 | ) | $ | 9.68 | 1.82 | % | 1.66 | % | 3.17 | % | (10.04 | %) | $ | 62,299 | 20 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.49 | 0.25 | (0.47 | ) | (0.22 | ) | (0.24 | ) | (0.10 | ) | (0.34 | ) | 10.93 | 1.82 | % | 1.64 | % | 2.15 | % | (1.99 | %) | 78,497 | 40 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.69 | 0.32 | 1.80 | 2.12 | (0.32 | ) | — | (0.32 | ) | 11.49 | 1.83 | % | 1.65 | % | 2.87 | % | 22.04 | % | 72,157 | 86 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.58 | 0.35 | (0.89 | ) | (0.54 | ) | (0.35 | ) | — | (0.35 | ) | 9.69 | 1.94 | % | 1.65 | % | 3.24 | % | (5.35 | %) | 63,134 | 98 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.69 | 0.39 | (0.11 | ) | 0.28 | (0.39 | ) | — | (0.39 | ) | 10.58 | 1.98 | % | 1.65 | % | 3.73 | % | 2.73 | % | 58,634 | 99 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.66 | 0.32 | 0.02 | 0.34 | (0.31 | ) | — | (0.31 | ) | 10.69 | 1.98 | % | 1.65 | % | 3.00 | % | 3.25 | % | 57,389 | 94 | % | |||||||||||||||||||||||||||||||||||
Class
I |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 10.89 | $ | 0.22 | ($ | 1.25 | ) | ($ | 1.03 | ) | ($ | 0.21 | ) | $ | — | ($ | 0.21 | ) | $ | 9.65 | 0.82 | % | 0.64 | % | 4.19 | % | (9.51 | %) | $ | 139,344 | 20 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.45 | 0.36 | (0.46 | ) | (0.10 | ) | (0.36 | ) | (0.10 | ) | (0.46 | ) | 10.89 | 0.82 | % | 0.64 | % | 3.15 | % | (1.02 | %) | 142,365 | 40 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.66 | 0.42 | 1.80 | 2.22 | (0.43 | ) | — | (0.43 | ) | 11.45 | 0.84 | % | 0.65 | % | 3.87 | % | 23.23 | % | 13,842 | 86 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.54 | 0.46 | (0.88 | ) | (0.42 | ) | (0.46 | ) | — | (0.46 | ) | 9.66 | 0.83 | % | 0.65 | % | 4.24 | % | (4.32 | %) | 16,622 | 98 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.65 | 0.50 | (0.11 | ) | 0.39 | (0.50 | ) | — | (0.50 | ) | 10.54 | 0.83 | % | 0.65 | % | 4.73 | % | 3.77 | % | 5,750 | 99 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.62 | 0.43 | 0.02 | 0.45 | (0.42 | ) | — | (0.42 | ) | 10.65 | 0.83 | % | 0.65 | % | 4.00 | % | 4.28 | % | 3,882 | 94 | % |
Fund | Selected Per Share Data | Ratios to Average Net Assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||
For
the Year or Period Ended (1) |
Net Asset Value, Beginning of Year or Period |
Investment Operations | Distributions | Net Asset Value, End of Year or Period |
Expenses Before Reductions (3) |
Expenses After Reductions (3), (4) |
Net Investment Income (Loss) (3) |
Total Returns (5) |
Net Assets, End of Year or Period (in thousands) |
Portfolio Turnover Rates |
||||||||||||||||||||||||||||||||||||||||||||||
Net Investment Income (Loss)(2) |
Net Realized and Unrealized Gain (Loss) |
Total | Net Investment Income |
Capital Gains |
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022 ‑ 9/30/2022 (7) |
$ | 10.97 | $ | 0.21 | ($ | 1.26 | ) | ($ | 1.05 | ) | ($ | 0.21 | ) | $ | — | ($ | 0.21 | ) | $ | 9.71 | 0.82 | % | 0.69 | % | 4.14 | % | (9.65 | %) | $ | 1,027,112 | 20 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.52 | 0.36 | (0.46 | ) | (0.10 | ) | (0.35 | ) | (0.10 | ) | (0.45 | ) | 10.97 | 0.82 | % | 0.69 | % | 3.10 | % | (0.97 | %) | 1,245,830 | 40 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.72 | 0.43 | 1.79 | 2.22 | (0.42 | ) | — | (0.42 | ) | 11.52 | 0.83 | % | 0.70 | % | 3.82 | % | 23.12 | % | 832,054 | 86 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.60 | 0.45 | (0.87 | ) | (0.42 | ) | (0.46 | ) | — | (0.46 | ) | 9.72 | 0.94 | % | 0.70 | % | 4.19 | % | (4.34 | %) | 491,221 | 98 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.71 | 0.49 | (0.11 | ) | 0.38 | (0.49 | ) | — | (0.49 | ) | 10.60 | 0.98 | % | 0.70 | % | 4.68 | % | 3.70 | % | 456,428 | 99 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.68 | 0.43 | 0.02 | 0.45 | (0.42 | ) | — | (0.42 | ) | 10.71 | 0.98 | % | 0.70 | % | 3.95 | % | 4.21 | % | 405,200 | 94 | % | |||||||||||||||||||||||||||||||||||
Pacific Funds Floating Rate Income (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.66 | $ | 0.24 | ($ | 0.59 | ) | ($ | 0.35 | ) | ($ | 0.23 | ) | $ | — | ($ | 0.23 | ) | $ | 9.08 | 1.12 | % | 0.98 | %(9) | 5.02 | % | (3.53 | %) | $ | 261,692 | 26 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
9.72 | 0.35 | (0.06 | ) | 0.29 | (0.35 | ) | — | (0.35 | ) | 9.66 | 1.13 | % | 1.00 | % | 3.56 | % | 2.87 | % | 280,827 | 90 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.80 | 0.34 | 0.92 | 1.26 | (0.34 | ) | — | (0.34 | ) | 9.72 | 1.17 | % | 1.02 | % | 3.63 | % | 14.52 | % | 170,353 | 116 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.88 | 0.46 | (1.08 | ) | (0.62 | ) | (0.46 | ) | — | (0.46 | ) | 8.80 | 1.27 | % | 1.02 | % | 4.64 | % | (6.69 | %) | 162,511 | 116 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.12 | 0.49 | (0.24 | ) | 0.25 | (0.49 | ) | — | (0.49 | ) | 9.88 | 1.29 | % | 1.01 | % | 4.92 | % | 2.57 | % | 202,929 | 122 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.15 | 0.42 | (0.04 | ) | 0.38 | (0.41 | ) | — | (0.41 | ) | 10.12 | 1.28 | % | 1.01 | % | 4.11 | % | 3.85 | % | 209,034 | 158 | % | ||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.64 | $ | 0.20 | ($ | 0.58 | ) | ($ | 0.38 | ) | ($ | 0.20 | ) | $ | — | ($ | 0.20 | ) | $ | 9.06 | 1.87 | % | 1.69 | %(9) | 4.30 | % | (3.99 | %) | $ | 112,954 | 26 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
9.71 | 0.28 | (0.07 | ) | 0.21 | (0.28 | ) | — | (0.28 | ) | 9.64 | 1.88 | % | 1.70 | % | 2.86 | % | 2.15 | % | 109,161 | 90 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.79 | 0.28 | 0.92 | 1.20 | (0.28 | ) | — | (0.28 | ) | 9.71 | 1.92 | % | 1.72 | % | 2.93 | % | 13.74 | % | 87,940 | 116 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.86 | 0.39 | (1.08 | ) | (0.69 | ) | (0.38 | ) | — | (0.38 | ) | 8.79 | 2.03 | % | 1.72 | % | 3.94 | % | (7.31 | %) | 102,846 | 116 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.10 | 0.42 | (0.24 | ) | 0.18 | (0.42 | ) | — | (0.42 | ) | 9.86 | 2.04 | % | 1.71 | % | 4.22 | % | 1.86 | % | 197,081 | 122 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.13 | 0.34 | (0.03 | ) | 0.31 | (0.34 | ) | — | (0.34 | ) | 10.10 | 2.03 | % | 1.71 | % | 3.41 | % | 3.14 | % | 191,239 | 158 | % | ||||||||||||||||||||||||||||||||||
Class
I |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.67 | $ | 0.25 | ($ | 0.58 | ) | ($ | 0.33 | ) | ($ | 0.25 | ) | $ | — | ($ | 0.25 | ) | $ | 9.09 | 0.87 | % | 0.67 | % (9) | 5.32 | % | (3.48 | %) | $ | 1,876,823 | 26 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
9.73 | 0.38 | (0.06 | ) | 0.32 | (0.38 | ) | — | (0.38 | ) | 9.67 | 0.88 | % | 0.70 | % | 3.86 | % | 3.29 | % | 1,838,625 | 90 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.81 | 0.38 | 0.91 | 1.29 | (0.37 | ) | — | (0.37 | ) | 9.73 | 0.91 | % | 0.72 | % | 3.93 | % | 14.87 | % | 1,019,062 | 116 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.90 | 0.49 | (1.09 | ) | (0.60 | ) | (0.49 | ) | — | (0.49 | ) | 8.81 | 0.91 | % | 0.72 | % | 4.94 | % | (6.49 | %) | 415,170 | 116 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.14 | 0.52 | (0.23 | ) | 0.29 | (0.53 | ) | — | (0.53 | ) | 9.90 | 0.90 | % | 0.71 | % | 5.22 | % | 2.88 | % | 497,335 | 122 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.16 | 0.45 | (0.03 | ) | 0.42 | (0.44 | ) | — | (0.44 | ) | 10.14 | 0.88 | % | 0.71 | % | 4.41 | % | 4.25 | % | 294,352 | 158 | % | ||||||||||||||||||||||||||||||||||
Class
P |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.67 | $ | 0.25 | ($ | 0.58 | ) | ($ | 0.33 | ) | ($ | 0.25 | ) | $ | — | ($ | 0.25 | ) | $ | 9.09 | 0.87 | % | 0.67 | % (9) | 5.32 | % | (3.59 | %) | $ | 87,425 | 26 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
9.73 | 0.38 | (0.06 | ) | 0.32 | (0.38 | ) | — | (0.38 | ) | 9.67 | 0.89 | % | 0.70 | % | 3.86 | % | 3.28 | % | 53,045 | 90 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.81 | 0.37 | 0.92 | 1.29 | (0.37 | ) | — | (0.37 | ) | 9.73 | 0.91 | % | 0.72 | % | 3.93 | % | 14.85 | % | 9,560 | 116 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.90 | 0.49 | (1.09 | ) | (0.60 | ) | (0.49 | ) | — | (0.49 | ) | 8.81 | 0.91 | % | 0.72 | % | 4.95 | % | (6.49 | %) | 7,900 | 116 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.14 | 0.53 | (0.25 | ) | 0.28 | (0.52 | ) | — | (0.52 | ) | 9.90 | 0.89 | % | 0.71 | % | 5.22 | % | 2.87 | % | 32,176 | 122 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.16 | 0.44 | (0.02 | ) | 0.42 | (0.44 | ) | — | (0.44 | ) | 10.14 | 0.88 | % | 0.76 | % | 4.36 | % | 4.20 | % | 64,557 | 158 | % | ||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.69 | $ | 0.25 | ($ | 0.59 | ) | ($ | 0.34 | ) | ($ | 0.24 | ) | $ | — | ($ | 0.24 | ) | $ | 9.11 | 0.87 | % | 0.72 | % (9) | 5.27 | % | (3.49 | %) | $ | 1,910,277 | 26 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
9.75 | 0.37 | (0.06 | ) | 0.31 | (0.37 | ) | — | (0.37 | ) | 9.69 | 0.88 | % | 0.75 | % | 3.81 | % | 3.25 | % | 1,778,969 | 90 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.83 | 0.37 | 0.92 | 1.29 | (0.37 | ) | — | (0.37 | ) | 9.75 | 0.91 | % | 0.77 | % | 3.88 | % | 14.78 | % | 716,233 | 116 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.92 | 0.48 | (1.09 | ) | (0.61 | ) | (0.48 | ) | — | (0.48 | ) | 8.83 | 1.03 | % | 0.77 | % | 4.89 | % | (6.52 | %) | 506,347 | 116 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.16 | 0.52 | (0.24 | ) | 0.28 | (0.52 | ) | — | (0.52 | ) | 9.92 | 1.04 | % | 0.76 | % | 5.17 | % | 2.83 | % | 830,452 | 122 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.18 | 0.44 | (0.02 | ) | 0.42 | (0.44 | ) | — | (0.44 | ) | 10.16 | 1.03 | % | 0.76 | % | 4.36 | % | 4.20 | % | 715,700 | 158 | % | ||||||||||||||||||||||||||||||||||
Pacific Funds High Income (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.85 | $ | 0.24 | ($ | 1.34 | ) | ($ | 1.10 | ) | ($ | 0.24 | ) | $ | — | ($ | 0.24 | ) | $ | 8.51 | 1.15 | % | 0.95 | % | 5.17 | % | (11.24 | %) | $ | 5,470 | 13 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.34 | 0.47 | (0.50 | ) | (0.03 | ) | (0.46 | ) | — | (0.46 | ) | 9.85 | 1.12 | % | 0.95 | % | 4.53 | % | (0.36 | %) | 6,816 | 40 | % | |||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.75 | 0.51 | 1.59 | 2.10 | (0.51 | ) | — | (0.51 | ) | 10.34 | 1.13 | % | 0.95 | % | 5.13 | % | 24.45 | % | 7,496 | 66 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.07 | 0.52 | (1.33 | ) | (0.81 | ) | (0.51 | ) | — | (0.51 | ) | 8.75 | 1.24 | % | 0.95 | % | 5.11 | % | (8.61 | %) | 7,227 | 63 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.23 | 0.55 | (0.16 | ) | 0.39 | (0.55 | ) | — | (0.55 | ) | 10.07 | 1.31 | % | 0.95 | % | 5.48 | % | 3.97 | % | 5,174 | 64 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.29 | 0.50 | (0.03 | ) | 0.47 | (0.53 | ) | — | (0.53 | ) | 10.23 | 1.46 | % | 0.95 | % | 4.82 | % | 4.66 | % | 5,463 | 72 | % | ||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.83 | $ | 0.20 | ($ | 1.32 | ) | ($ | 1.12 | ) | ($ | 0.21 | ) | $ | — | ($ | 0.21 | ) | $ | 8.50 | 1.90 | % | 1.67 | % | 4.45 | % | (11.59 | %) | $ | 978 | 13 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.33 | 0.40 | (0.51 | ) | (0.11 | ) | (0.39 | ) | — | (0.39 | ) | 9.83 | 1.87 | % | 1.65 | % | 3.83 | % | (1.17 | %) | 1,291 | 40 | % | |||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.74 | 0.44 | 1.59 | 2.03 | (0.44 | ) | — | (0.44 | ) | 10.33 | 1.88 | % | 1.65 | % | 4.43 | % | 23.61 | % | 1,937 | 66 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.06 | 0.45 | (1.33 | ) | (0.88 | ) | (0.44 | ) | — | (0.44 | ) | 8.74 | 2.00 | % | 1.65 | % | 4.41 | % | (9.28 | %) | 2,007 | 63 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.21 | 0.48 | (0.15 | ) | 0.33 | (0.48 | ) | — | (0.48 | ) | 10.06 | 2.06 | % | 1.65 | % | 4.78 | % | 3.35 | % | 3,726 | 64 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.28 | 0.43 | (0.04 | ) | 0.39 | (0.46 | ) | — | (0.46 | ) | 10.21 | 2.21 | % | 1.65 | % | 4.12 | % | 3.84 | % | 4,418 | 72 | % | ||||||||||||||||||||||||||||||||||
Class
I |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.74 | $ | 0.25 | ($ | 1.31 | ) | ($ | 1.06 | ) | ($ | 0.26 | ) | $ | — | ($ | 0.26 | ) | $ | 8.42 | 0.90 | % | 0.65 | % | 5.47 | % | (11.14 | %) | $ | 746 | 13 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.24 | 0.49 | (0.50 | ) | (0.01 | ) | (0.49 | ) | — | (0.49 | ) | 9.74 | 0.87 | % | 0.69 | % | 4.79 | % | (0.20 | %) | 86 | 40 | % | |||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.66 | 0.53 | 1.59 | 2.12 | (0.54 | ) | — | (0.54 | ) | 10.24 | 0.88 | % | 0.70 | % | 5.38 | % | 24.76 | % | 62 | 66 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.98 | 0.54 | (1.33 | ) | (0.79 | ) | (0.53 | ) | — | (0.53 | ) | 8.66 | 0.88 | % | 0.70 | % | 5.36 | % | (8.36 | %) | 54 | 63 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.14 | 0.57 | (0.16 | ) | 0.41 | (0.57 | ) | — | (0.57 | ) | 9.98 | 0.91 | % | 0.70 | % | 5.73 | % | 4.27 | % | 175 | 64 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.21 | 0.52 | (0.02 | ) | 0.50 | (0.57 | ) | — | (0.57 | ) | 10.14 | 1.07 | % | 0.70 | % | 5.07 | % | 4.95 | % | 211 | 72 | % |
Fund | Selected Per Share Data | Ratios to Average Net Assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||
For
the Year or Period Ended (1) |
Net Asset Value, Beginning of Year or Period |
Investment Operations | Distributions | Net Asset Value, End of Year or Period |
Expenses Before Reductions (3) |
Expenses After Reductions (3), (4) |
Net Investment Income (Loss) (3) |
Total Returns (5) |
Net Assets, End of Year or Period (in thousands) |
Portfolio Turnover Rates |
||||||||||||||||||||||||||||||||||||||||||||||
Net Investment Income (Loss)(2) |
Net Realized and Unrealized Gain (Loss) |
Total | Net Investment Income |
Capital Gains |
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class
P |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022 ‑ 9/30/2022 (7) |
$ | 9.74 | $ | 0.25 | ($ | 1.31 | ) | ($ | 1.06 | ) | ($ | 0.26 | ) | $ | — | ($ | 0.26 | ) | $ | 8.42 | 0.90 | % | 0.65 | % | 5.47 | % | (11.13 | %) | $ | 85,569 | 13 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.24 | 0.49 | (0.50 | ) | (0.01 | ) | (0.49 | ) | — | (0.49 | ) | 9.74 | 0.87 | % | 0.69 | % | 4.79 | % | (0.20 | %) | 134,177 | 40 | % | |||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.66 | 0.53 | 1.59 | 2.12 | (0.54 | ) | — | (0.54 | ) | 10.24 | 0.88 | % | 0.70 | % | 5.38 | % | 24.91 | % | 146,345 | 66 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.98 | 0.54 | (1.33 | ) | (0.79 | ) | (0.53 | ) | — | (0.53 | ) | 8.66 | 0.88 | % | 0.70 | % | 5.36 | % | (8.46 | %) | 120,807 | 63 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.14 | 0.57 | (0.16 | ) | 0.41 | (0.57 | ) | — | (0.57 | ) | 9.98 | 0.91 | % | 0.70 | % | 5.73 | % | 4.27 | % | 113,317 | 64 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.20 | 0.52 | (0.02 | ) | 0.50 | (0.56 | ) | — | (0.56 | ) | 10.14 | 1.06 | % | 0.73 | % | 5.04 | % | 4.92 | % | 68,844 | 72 | % | ||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 9.87 | $ | 0.25 | ($ | 1.33 | ) | ($ | 1.08 | ) | ($ | 0.26 | ) | $ | — | ($ | 0.26 | ) | $ | 8.53 | 0.90 | % | 0.70 | % | 5.42 | % | (11.10 | %) | $ | 6,251 | 13 | % | ||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
10.36 | 0.50 | (0.50 | ) | 0.00 | (8) | (0.49 | ) | — | (0.49 | ) | 9.87 | 0.87 | % | 0.70 | % | 4.78 | % | (0.11 | %) | 6,741 | 40 | % | |||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.76 | 0.54 | 1.60 | 2.14 | (0.54 | ) | — | (0.54 | ) | 10.36 | 0.88 | % | 0.70 | % | 5.38 | % | 24.86 | % | 3,937 | 66 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
10.08 | 0.54 | (1.33 | ) | (0.79 | ) | (0.53 | ) | — | (0.53 | ) | 8.76 | 1.00 | % | 0.70 | % | 5.36 | % | (8.38 | %) | 3,329 | 63 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
10.24 | 0.58 | (0.17 | ) | 0.41 | (0.57 | ) | — | (0.57 | ) | 10.08 | 1.06 | % | 0.70 | % | 5.73 | % | 4.23 | % | 3,669 | 64 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.30 | 0.53 | (0.03 | ) | 0.50 | (0.56 | ) | — | (0.56 | ) | 10.24 | 1.21 | % | 0.70 | % | 5.07 | % | 4.91 | % | 2,503 | 72 | % | ||||||||||||||||||||||||||||||||||
Pacific Funds Small/Mid-Cap (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 15.98 | $ | 0.02 | ($ | 3.53 | ) | ($ | 3.51 | ) | $ | — | $ | — | $ | — | $ | 12.47 | 1.29 | % | 1.21 | % | 0.35 | % | (21.97 | %) | $ | 15,055 | 15 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
17.47 | (0.07 | ) | (0.34 | ) | (0.41 | ) | — | (1.08 | ) | (1.08 | ) | 15.98 | 1.23 | % | 1.20 | % | (0.38 | %) | (2.82 | %) | 19,675 | 34 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.52 | (0.04 | ) | 7.99 | 7.95 | — | — | — | 17.47 | 1.24 | % | 1.20 | % | (0.33 | %) | 83.51 | % | 22,988 | 64 | % | ||||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
13.02 | (0.00 | )(8) | (3.47 | ) | (3.47 | ) | (0.03 | ) | — | (0.03 | ) | 9.52 | 1.37 | % | 1.23 | % | (0.03 | %) | (26.71 | %) | 14,379 | 36 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
13.23 | (0.02 | ) | 0.16 | 0.14 | — | (0.35 | ) | (0.35 | ) | 13.02 | 1.48 | % | 1.30 | % | (0.11 | %) | 1.19 | % | 21,872 | 33 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.93 | (0.04 | ) | 1.35 | 1.31 | — | (0.01 | ) | (0.01 | ) | 13.23 | 1.51 | % | 1.30 | % | (0.28 | %) | 11.02 | % | 21,131 | 23 | % | ||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 15.24 | ($ | 0.03 | ) | ($ | 3.36 | ) | ($ | 3.39 | ) | $ | — | $ | — | $ | — | $ | 11.85 | 2.05 | % | 1.96 | % | (0.40 | %) | (22.24 | %) | $ | 6,433 | 15 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
16.83 | (0.19 | ) | (0.32 | ) | (0.51 | ) | — | (1.08 | ) | (1.08 | ) | 15.24 | 1.98 | % | 1.95 | % | (1.13 | %) | (3.53 | %) | 9,370 | 34 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.24 | (0.14 | ) | 7.73 | 7.59 | — | — | — | 16.83 | 1.99 | % | 1.95 | % | (1.08 | %) | 82.14 | % | 10,990 | 64 | % | ||||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
12.70 | (0.10 | ) | (3.36 | ) | (3.46 | ) | — | — | — | 9.24 | 2.13 | % | 1.98 | % | (0.78 | %) | (27.24 | %) | 9,277 | 36 | % | ||||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
13.01 | (0.11 | ) | 0.15 | 0.04 | — | (0.35 | ) | (0.35 | ) | 12.70 | 2.23 | % | 2.05 | % | (0.87 | %) | 0.43 | % | 16,875 | 33 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.81 | (0.13 | ) | 1.34 | 1.21 | — | (0.01 | ) | (0.01 | ) | 13.01 | 2.26 | % | 2.05 | % | (1.03 | %) | 10.28 | % | 15,458 | 23 | % | ||||||||||||||||||||||||||||||||||
Class
R6 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 17.17 | $ | 0.05 | ($ | 3.79 | ) | ($ | 3.74 | ) | $ | — | $ | — | $ | — | $ | 13.43 | 1.04 | % | 0.86 | % | 0.70 | % | (21.83 | %) | $ | 765 | 15 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
17.61 | (0.01 | ) | (0.43 | ) | (0.44 | ) | — | — | — | 17.17 | 0.98 | % | 0.85 | % | (0.03 | %) | (2.44 | %) | 1,017 | 34 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.59 | 0.00 | (8) | 8.08 | 8.08 | (0.06 | ) | — | (0.06 | ) | 17.61 | 0.99 | % | 0.86 | % | 0.01 | % | 84.32 | % | 1,558 | 64 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
13.12 | 0.04 | (3.50 | ) | (3.46 | ) | (0.07 | ) | — | (0.07 | ) | 9.59 | 1.01 | % | 0.93 | % | 0.27 | % | (26.57 | %) | 4,802 | 36 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
13.29 | 0.02 | 0.16 | 0.18 | (0.00 | )(8) | (0.35 | ) | (0.35 | ) | 13.12 | 1.08 | % | 1.00 | % | 0.19 | % | 1.52 | % | 6,422 | 33 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.94 | 0.00 | (8) | 1.36 | 1.36 | — | (0.01 | ) | (0.01 | ) | 13.29 | 1.11 | % | 1.00 | % | 0.02 | % | 11.43 | % | 9,977 | 23 | % | ||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 16.12 | $ | 0.04 | ($ | 3.56 | ) | ($ | 3.52 | ) | $ | — | $ | — | $ | — | $ | 12.60 | 1.04 | % | 0.96 | % | 0.60 | % | (21.89 | %) | $ | 87,900 | 15 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
17.57 | (0.02 | ) | (0.35 | ) | (0.37 | ) | — | (1.08 | ) | (1.08 | ) | 16.12 | 0.98 | % | 0.95 | % | (0.13 | %) | (2.52 | %) | 184,718 | 34 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
9.58 | (0.01 | ) | 8.05 | 8.04 | (0.05 | ) | — | (0.05 | ) | 17.57 | 1.00 | % | 0.95 | % | (0.08 | %) | 84.04 | % | 312,981 | 64 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
13.11 | 0.03 | (3.50 | ) | (3.47 | ) | (0.06 | ) | — | (0.06 | ) | 9.58 | 1.12 | % | 0.98 | % | 0.22 | % | (26.61 | %) | 214,344 | 36 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
13.28 | 0.02 | 0.16 | 0.18 | (0.00 | )(8) | (0.35 | ) | (0.35 | ) | 13.11 | 1.23 | % | 1.05 | % | 0.13 | % | 1.50 | % | 328,171 | 33 | % | ||||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.94 | 0.00 | (8) | 1.35 | 1.35 | — | (0.01 | ) | (0.01 | ) | 13.28 | 1.26 | % | 1.05 | % | (0.03 | %) | 11.34 | % | 176,897 | 23 | % | ||||||||||||||||||||||||||||||||||
Pacific Funds Small-Cap (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 14.81 | $ | 0.01 | ($ | 3.39 | ) | ($ | 3.38 | ) | $ | — | $ | — | $ | — | $ | 11.43 | 1.78 | % | 1.20 | % | 0.13 | % | (22.82 | %) | $ | 1,520 | 16 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
16.02 | (0.05 | ) | (0.43 | ) | (0.48 | ) | — | (0.73 | ) | (0.73 | ) | 14.81 | 1.60 | % | 1.20 | % | (0.34 | %) | (3.38 | %) | 1,941 | 63 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.56 | (0.05 | ) | 7.51 | 7.46 | — | — | — | 16.02 | 1.88 | % | 1.20 | % | (0.40 | %) | 87.15 | % | 2,659 | 75 | % | ||||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
12.12 | (0.03 | ) | (3.51 | ) | (3.54 | ) | (0.02 | ) | — | (0.02 | ) | 8.56 | 1.73 | % | 1.23 | % | (0.21 | %) | (29.27 | %) | 3,343 | 42 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
12.86 | (0.03 | ) | (0.06 | ) | (0.09 | ) | — | (0.65 | ) | (0.65 | ) | 12.12 | 1.72 | % | 1.30 | % | (0.21 | %) | (0.53 | %) | 4,986 | 56 | % | ||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.77 | (0.02 | ) | 1.33 | 1.31 | (0.01 | ) | (0.21 | ) | (0.22 | ) | 12.86 | 1.89 | % | 1.30 | % | (0.16 | %) | 11.17 | % | 2,367 | 62 | % | |||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 14.26 | ($ | 0.04 | ) | ($ | 3.25 | ) | ($ | 3.29 | ) | $ | — | $ | — | $ | — | $ | 10.97 | 2.53 | % | 1.95 | % | (0.62 | %) | (23.07 | %) | $ | 542 | 16 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
15.56 | (0.17 | ) | (0.40 | ) | (0.57 | ) | — | (0.73 | ) | (0.73 | ) | 14.26 | 2.35 | % | 1.95 | % | (1.09 | %) | (4.07 | %) | 776 | 63 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.38 | (0.13 | ) | 7.31 | 7.18 | — | — | — | 15.56 | 2.65 | % | 1.95 | % | (1.15 | %) | 85.68 | % | 789 | 75 | % | ||||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
11.94 | (0.11 | ) | (3.45 | ) | (3.56 | ) | — | — | — | 8.38 | 2.48 | % | 1.98 | % | (0.96 | %) | (29.82 | %) | 538 | 42 | % | ||||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
12.76 | (0.12 | ) | (0.05 | ) | (0.17 | ) | — | (0.65 | ) | (0.65 | ) | 11.94 | 2.47 | % | 2.05 | % | (0.96 | %) | (1.17 | %) | 902 | 56 | % | ||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.76 | (0.11 | ) | 1.32 | 1.21 | — | (0.21 | ) | (0.21 | ) | 12.76 | 2.64 | % | 2.05 | % | (0.91 | %) | 10.32 | % | 797 | 62 | % | ||||||||||||||||||||||||||||||||||
Class
R6 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 14.52 | $ | 0.03 | ($ | 3.32 | ) | ($ | 3.29 | ) | $ | — | $ | — | $ | — | $ | 11.23 | 1.53 | % | 0.85 | % | 0.48 | % | (22.66 | %) | $ | 1,298 | 16 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
14.98 | 0.00 | (8) | (0.46 | ) | (0.46 | ) | — | — | — | 14.52 | 1.35 | % | 0.85 | % | 0.01 | % | (3.07 | %) | 1,699 | 63 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
7.97 | (0.01 | ) | 7.02 | 7.01 | — | — | — | 14.98 | 1.64 | % | 0.86 | % | (0.06 | %) | 87.72 | % | 1,752 | 75 | % | ||||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
11.29 | 0.01 | (3.28 | ) | (3.27 | ) | (0.05 | ) | — | (0.05 | ) | 7.97 | 1.37 | % | 0.93 | % | 0.09 | % | (29.05 | %) | 731 | 42 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
12.00 | 0.01 | (0.06 | ) | (0.05 | ) | (0.01 | ) | (0.65 | ) | (0.66 | ) | 11.29 | 1.32 | % | 1.00 | % | 0.09 | % | (0.18 | %) | 658 | 56 | % | ||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
10.95 | 0.02 | 1.24 | 1.26 | — | (0.21 | ) | (0.21 | ) | 12.00 | 1.49 | % | 1.00 | % | 0.14 | % | 11.54 | % | 457 | 62 | % | |||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 15.14 | $ | 0.03 | ($ | 3.46 | ) | ($ | 3.43 | ) | $ | — | $ | — | $ | — | $ | 11.71 | 1.51 | % | 0.95 | % | 0.38 | % | (22.66 | %) | $ | 9,407 | 16 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
16.32 | (0.01 | ) | (0.44 | ) | (0.45 | ) | — | (0.73 | ) | (0.73 | ) | 15.14 | 1.34 | % | 0.95 | % | (0.09 | %) | (3.13 | %) | 17,732 | 63 | % | ||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
8.71 | (0.02 | ) | 7.64 | 7.62 | (0.01 | ) | — | (0.01 | ) | 16.32 | 1.65 | % | 0.95 | % | (0.15 | %) | 87.51 | % | 11,402 | 75 | % | ||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
12.32 | 0.00 | (8) | (3.57 | ) | (3.57 | ) | (0.04 | ) | — | (0.04 | ) | 8.71 | 1.48 | % | 0.98 | % | 0.04 | % | (29.07 | %) | 7,897 | 42 | % | ||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
13.04 | 0.01 | (0.07 | ) | (0.06 | ) | (0.01 | ) | (0.65 | ) | (0.66 | ) | 12.32 | 1.47 | % | 1.05 | % | 0.04 | % | (0.26 | %) | 13,220 | 56 | % | ||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.90 | 0.01 | 1.35 | 1.36 | (0.01 | ) | (0.21 | ) | (0.22 | ) | 13.04 | 1.64 | % | 1.05 | % | 0.09 | % | 11.45 | % | 14,767 | 62 | % |
Fund | Selected Per Share Data | Ratios to Average Net Assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||
For
the Year or Period Ended (1) |
Net Asset Value, Beginning of Year or Period |
Investment Operations | Distributions | Net Asset Value, End of Year or Period |
Expenses Before Reductions (3) |
Expenses After Reductions (3), (4) |
Net Investment Income (Loss) (3) |
Total Returns (5) |
Net Assets, End of Year or Period (in thousands) |
Portfolio Turnover Rates |
||||||||||||||||||||||||||||||||||||||||||||||
Net Investment Income (Loss)(2) |
Net Realized and Unrealized Gain (Loss) |
Total | Net Investment Income |
Capital Gains |
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Pacific Funds Small-Cap Value (6) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class
A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022 ‑ 9/30/2022 (7) |
$ | 12.19 | $ | 0.04 | ($ | 2.49 | ) | ($ | 2.45 | ) | $ | — | $ | — | $ | — | $ | 9.74 | 1.69 | % | 1.20 | % | 0.69 | % | (20.10 | %) | $ | 2,425 | 23 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.53 | 0.01 | 0.82 | 0.83 | — | (0.17 | ) | (0.17 | ) | 12.19 | 1.65 | % | 1.20 | % | 0.05 | % | 7.15 | % | 2,983 | 40 | % | |||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
6.15 | 0.02 | 5.41 | 5.43 | (0.05 | ) | — | (0.05 | ) | 11.53 | 1.85 | % | 1.20 | % | 0.23 | % | 88.38 | % | 2,206 | 87 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.10 | 0.04 | (2.92 | ) | (2.88 | ) | (0.07 | ) | — | (0.07 | ) | 6.15 | 1.72 | % | 1.22 | % | 0.41 | % | (31.93 | %) | 1,023 | 45 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
11.17 | 0.03 | (0.49 | ) | (0.46 | ) | (0.03 | ) | (1.58 | ) | (1.61 | ) | 9.10 | 1.67 | % | 1.30 | % | 0.30 | % | (3.68 | %) | 1,298 | 51 | % | ||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.52 | 0.02 | 0.62 | 0.64 | (0.03 | ) | (0.96 | ) | (0.99 | ) | 11.17 | 1.65 | % | 1.30 | % | 0.14 | % | 5.41 | % | 1,105 | 47 | % | ||||||||||||||||||||||||||||||||||
Class
C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 11.86 | ($ | 0.00 | )(8) | ($ | 2.42 | ) | ($ | 2.42 | ) | $ | — | $ | — | $ | — | $ | 9.44 | 2.44 | % | 1.95 | % | (0.07 | %) | (20.41 | %) | $ | 504 | 23 | % | |||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.30 | (0.08 | ) | 0.81 | 0.73 | — | (0.17 | ) | (0.17 | ) | 11.86 | 2.40 | % | 1.95 | % | (0.70 | %) | 6.41 | % | 760 | 40 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
6.04 | (0.04 | ) | 5.30 | 5.26 | — | — | — | 11.30 | 2.62 | % | 1.95 | % | (0.52 | %) | 87.09 | % | 801 | 87 | % | ||||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
8.94 | (0.03 | ) | (2.87 | ) | (2.90 | ) | — | — | — | 6.04 | 2.47 | % | 1.97 | % | (0.35 | %) | (32.44 | %) | 644 | 45 | % | ||||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
11.06 | (0.05 | ) | (0.49 | ) | (0.54 | ) | — | (1.58 | ) | (1.58 | ) | 8.94 | 2.42 | % | 2.05 | % | (0.45 | %) | (4.47 | %) | 1,287 | 51 | % | ||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.46 | (0.07 | ) | 0.63 | 0.56 | — | (0.96 | ) | (0.96 | ) | 11.06 | 2.40 | % | 2.05 | % | (0.61 | %) | 4.72 | % | 1,568 | 47 | % | ||||||||||||||||||||||||||||||||||
Class
R6 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 12.39 | $ | 0.06 | ($ | 2.53 | ) | ($ | 2.47 | ) | $ | — | $ | — | $ | — | $ | 9.92 | 1.44 | % | 0.85 | % | 1.04 | % | (19.94 | %) | $ | 1,039 | 23 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.55 | 0.05 | 0.81 | 0.86 | (0.02 | ) | — | (0.02 | ) | 12.39 | 1.40 | % | 0.85 | % | 0.40 | % | 7.48 | % | 1,318 | 40 | % | |||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
6.17 | 0.05 | 5.42 | 5.47 | (0.09 | ) | — | (0.09 | ) | 11.55 | 1.61 | % | 0.86 | % | 0.57 | % | 88.95 | % | 1,160 | 87 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.12 | 0.07 | (2.92 | ) | (2.85 | ) | (0.10 | ) | — | (0.10 | ) | 6.17 | 1.36 | % | 0.92 | % | 0.70 | % | (31.67 | %) | 2,314 | 45 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
11.21 | 0.07 | (0.52 | ) | (0.45 | ) | (0.06 | ) | (1.58 | ) | (1.64 | ) | 9.12 | 1.27 | % | 1.00 | % | 0.60 | % | (3.52 | %) | 3,134 | 51 | % | ||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.55 | 0.05 | 0.64 | 0.69 | (0.07 | ) | (0.96 | ) | (1.03 | ) | 11.21 | 1.25 | % | 1.00 | % | 0.44 | % | 5.78 | % | 9,657 | 47 | % | ||||||||||||||||||||||||||||||||||
Class
I-2 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/1/2022
- 9/30/2022 (7) |
$ | 12.31 | $ | 0.05 | ($ | 2.51 | ) | ($ | 2.46 | ) | $ | — | $ | — | $ | — | $ | 9.85 | 1.44 | % | 0.95 | % | 0.94 | % | (19.98 | %) | $ | 12,817 | 23 | % | ||||||||||||||||||||||||||
4/1/2021
- 3/31/2022 |
11.63 | 0.04 | 0.83 | 0.87 | (0.02 | ) | (0.17 | ) | (0.19 | ) | 12.31 | 1.40 | % | 0.95 | % | 0.30 | % | 7.38 | % | 15,488 | 40 | % | ||||||||||||||||||||||||||||||||||
4/1/2020
- 3/31/2021 |
6.19 | 0.04 | 5.47 | 5.51 | (0.07 | ) | — | (0.07 | ) | 11.63 | 1.61 | % | 0.95 | % | 0.48 | % | 89.25 | % | 13,750 | 87 | % | |||||||||||||||||||||||||||||||||||
4/1/2019
- 3/31/2020 |
9.16 | 0.06 | (2.94 | ) | (2.88 | ) | (0.09 | ) | — | (0.09 | ) | 6.19 | 1.47 | % | 0.97 | % | 0.66 | % | (31.79 | %) | 10,018 | 45 | % | |||||||||||||||||||||||||||||||||
4/1/2018
- 3/31/2019 |
11.24 | 0.06 | (0.51 | ) | (0.45 | ) | (0.05 | ) | (1.58 | ) | (1.63 | ) | 9.16 | 1.42 | % | 1.05 | % | 0.55 | % | (3.51 | %) | 11,664 | 51 | % | ||||||||||||||||||||||||||||||||
4/1/2017
- 3/31/2018 |
11.59 | 0.05 | 0.63 | 0.68 | (0.07 | ) | (0.96 | ) | (1.03 | ) | 11.24 | 1.40 | % | 1.05 | % | 0.39 | % | 5.70 | % | 15,511 | 47 | % |
(1) |
For
share classes that commenced operations after April 1, 2017, the
first date reported represents the commencement date of operations for
that share class. |
(2) |
Net
investment income (loss) per share has been calculated using the average
shares method. |
(3) |
The
ratios are annualized for periods of less than one full
year. |
(4) |
The
ratios of expenses after expense reductions to average net assets are
after advisory fee waivers and adviser expense reimbursements, if any. The
expense ratios for all the Portfolio Optimization Funds do not include
fees and expenses of the Funds in which they
invest. |
(5) |
The
total returns include reinvestment of all dividends and capital gain
distributions, if any, and do not include deductions of any applicable
sales charges. Total returns are not annualized for periods less than one
full year. |
(6) |
Advisor
Class shares were renamed to Class I-2 shares on August 1,
2022. |
(7) |
Unaudited. |
(8) |
Reflects
an amount rounding to less than $0.01 per share. |
(9) |
The
annualized ratios of expenses, excluding interest expense, after expense
reductions to average net assets for the six-month period ended
September 30, 2022 are as follows: |
Year | Aristotle Small/Mid Cap Equity Composite (Net of Fees) |
Russell 2500 Index |
||||||
Since
Inception (January 1, 2008) to December 31, 2022 |
8.17 | % | 8.09 | % | ||||
10
Years |
9.54 | % | 10.02 | % | ||||
5
Years |
4.52 | % | 5.88 | % | ||||
3
Years |
4.21 | % | 4.99 | % | ||||
1
Year |
‑12.52 | % | ‑18.37 | % |
Year |
Aristotle Small/Mid Cap Equity
Composite
(Net
of Fees) |
Russell 2500
Index |
||||||
2022 |
‑12.52 | % | ‑18.37 | % | ||||
2021 |
17.93 | % | 18.18 | % | ||||
2020 |
9.71 | % | 19.99 | % | ||||
2019 |
23.25 | % | 27.77 | % | ||||
2018 |
‑10.55 | % | ‑10.00 | % | ||||
2017 |
13.24 | % | 16.81 | % | ||||
2016 |
22.05 | % | 17.59 | % | ||||
2015 |
3.17 | % | ‑2.90 | % | ||||
2014 |
1.78 | % | 7.07 | % | ||||
2013 |
37.41 | % | 36.80 | % |
Year | Aristotle Small Cap Equity Composite (Net of Fees) |
Russell 2000 Index |
||||||
Since
Inception (November 1, 2006) to December 31, 2022 |
8.56 | % | 6.71 | % | ||||
10
Years |
10.17 | % | 9.01 | % | ||||
5
Years |
5.08 | % | 4.12 | % | ||||
3
Years |
5.46 | % | 3.10 | % | ||||
1
Year |
‑10.13 | % | ‑20.44 | % |
Year | Aristotle Small Cap Equity Composite (Net of Fees) |
Russell 2000 Index |
||||||
2022 |
‑10.13 | % | ‑20.44 | % | ||||
2021 |
19.24 | % | 14.82 | % | ||||
2020 |
9.47 | % | 19.96 | % | ||||
2019 |
24.20 | % | 25.53 | % | ||||
2018 |
‑12.04 | % | ‑11.01 | % | ||||
2017 |
18.43 | % | 14.65 | % | ||||
2016 |
18.92 | % | 21.31 | % | ||||
2015 |
2.72 | % | ‑4.41 | % | ||||
2014 |
2.50 | % | 4.89 | % | ||||
2013 |
38.73 | % | 38.82 | % |
FRONT-END SALES CHARGE WAIVERS ON CLASS A SHARES AVAILABLE AT BAIRD |
• Shares
purchased through reinvestment of capital gains distributions and dividend
reinvestment when purchasing share of the same fund |
• Share
purchase by employees and registers representatives of Baird or its
affiliate and their family members as designated by Baird |
• Shares
purchased using the proceeds of redemptions within Aristotle Funds Series
Trust, provided (1) the repurchase occurs within 90 days following
the redemption, (2) the redemption and purchase occur in the same
accounts, and (3) redeemed shares were subject to a front-end or
deferred sales charge (known as Right of Reinstatement) |
• A
shareholder in a Fund’s Class C Shares will have their share converted at
NAV to Class A shares (or the appropriate share class) of the same
Fund if the shares are no longer subject to a CDSC and the conversion is
in line with the policies and procedures of Baird |
• Employer-sponsored
retirement plans or charitable accounts in a transactional brokerage
account at Baird, including 401(k) plans, 457 plans, employer-sponsored
403(b) plans, profit sharing and money purchase pension plans and defined
benefit plans. For purposes of this provision, employer-sponsored
retirement plans do not include SEP IRAs, Simple IRAs or
SAR-SEPs |
CDSC WAIVERS ON CLASS A AND CLASS C SHARES AVAILABLE AT BAIRD |
• Due
to death or disability of the shareholder |
• Shares
sold as part of a systematic withdrawal plan as described in the
Prospectus |
• Return
of excess contributions from an IRA Account |
• Shares
sold as part of a required minimum distribution for IRA and retirement
accounts pursuant to the Internal Revenue Code |
• Shares
sold to pay Baird fees but only if the transaction is initiated by
Baird |
• Shares
acquired through a Right of Reinstatement |
FRONT-END SALES CHARGE DISCOUNTS AVAILABLE AT BAIRD: BREAKPOINTS, RIGHTS OF ACCUMULATION, LETTER OF INTENT |
• Breakpoints
as described in this Prospectus |
• Rights
of Accumulations (“ROA”), which entitles shareholders to breakpoint
discounts as described in the Fund’s Prospectus, will be automatically
calculated based on the aggregated holding of Aristotle Funds Series Trust
assets held by accounts within the purchaser’s household at Baird.
Eligible Aristotle Funds Series Trust assets not held at Baird may be
included in the ROA calculation only if the shareholder notifies his or
her financial advisor about such assets |
• Letters
of Intent (“LOI”), which allow for breakpoint discounts based on
anticipated purchases within Aristotle Funds Series Trust, through Baird,
over a 13-month period of time |
BREAKPOINTS |
• Breakpoint
pricing, otherwise known as volume pricing, at dollar thresholds as
described in the Prospectus. |
RIGHTS OF ACCUMULATION (“ROA”) |
• The
applicable sales charge on a purchase of Class A shares is determined
by taking into account all share classes (except certain money market
funds and any assets held in group retirement plans) of Aristotle Funds
held by the shareholder or in an account grouped by Edward Jones with
other accounts for the purpose of providing certain pricing considerations
(“pricing groups”). If grouping assets as a shareholder, this includes all
share classes held on the Edward Jones platform and/or held on another
platform. The inclusion of eligible fund family assets in the ROA
calculation is dependent on the shareholder notifying Edward Jones of such
assets at the time of calculation. Money market funds are included only if
such shares were sold with a sales charge at the time of purchase or
acquired in exchange for shares purchased with a sales charge. |
• The
employer maintaining a SEP IRA plan and/or SIMPLE IRA plan may elect to
establish or change ROA for the IRA accounts associated with the plan to a
plan-level grouping as opposed to including all share classes at a
shareholder or pricing group level. |
• ROA
is determined by calculating the higher of cost minus redemptions or
market value (current shares x NAV). |
LETTER OF INTENT (“LOI”) |
• Through
a LOI, shareholders can receive the sales charge and breakpoint discounts
for purchases shareholders intend to make over a 13-month period from the
date Edward Jones receives the LOI. The LOI is determined by calculating
the higher of cost or market value of qualifying holdings at LOI
initiation in combination with the value that the shareholder intends to
buy over a 13-month period to calculate the front-end sales charge and any
breakpoint discounts. Each purchase the shareholder makes during that
13-month period will receive the sales charge and breakpoint discount that
applies to the total amount. The inclusion of eligible fund family assets
in the LOI calculation is dependent on the shareholder notifying Edward
Jones of such assets at the time of calculation. Purchases made before the
LOI is received by Edward Jones are not adjusted under the LOI and will
not reduce the sales charge previously paid. Sales charges will be
adjusted if the LOI is not met. |
• If
the employer maintaining a SEP IRA plan and/or SIMPLE IRA plan has elected
to establish or change ROA for the IRA accounts associated with the plan
to a plan-level grouping, LOIs will also be at the plan-level and may only
be established by the employer. |
SALES CHARGE WAIVERS |
Sales charges are waived for the following shareholders and in the following situations: |
• Associates
of Edward Jones and its affiliates and their family members who are in the
same pricing group (as determined by Edward Jones under its policies and
procedures) as the associate. This waiver will continue for the remainder
of the associate’s life if the associate retires from Edward Jones in
good-standing and remains in good standing pursuant to Edward Jones’
policies and procedures. |
• Shares
purchased in an Edward Jones fee-based program. |
• Shares
purchased through reinvestment of capital gains distributions and dividend
reinvestment. |
• Shares
purchased from the proceeds of redeemed shares of the same fund family so
long as the following conditions are met: 1) the proceeds are from the
sale of shares within 60 days of the purchase, and 2) the sale and
purchase are made in the same share class and the same account or the
purchase is made in an individual retirement account with proceeds from
liquidations in a non-retirement account. |
• Shares
exchanged into Class A shares from another share class so long as the
exchange is into the same fund and was initiated at the discretion of
Edward Jones. Edward Jones is responsible for any remaining CDSC due to
the fund company, if applicable. Any future purchases are subject to the
applicable sales charge as disclosed in the Prospectus. |
• Exchanges
from Class C shares to Class A shares of the same fund, generally, in
the 84th month following the anniversary of the purchase date or earlier
at the discretion of Edward Jones. |
CDSC WAIVERS |
If the shareholder purchases shares that are subject to a CDSC and those shares are redeemed before the CDSC is expired, the shareholder is responsible to pay the CDSC except in the following conditions: |
• The
death or disability of the shareholder |
• Systematic
withdrawals with up to 10% per year of the account value |
• Return
of excess contributions from an Individual Retirement Account
(IRA) |
• Shares
sold as part of a required minimum distribution for IRA and retirement
accounts if the redemption is taken in or after the year the shareholder
reaches qualified age based on applicable IRS regulations |
• Shares
sold to pay Edward Jones fees or costs in such cases where the transaction
is initiated by Edward Jones |
• Shares
exchanged in an Edward Jones fee-based program |
• Shares
acquired through NAV reinstatement |
• Shares
redeemed at the discretion of Edward Jones for Minimum Balances, as
described below. |
OTHER IMPORTANT INFORMATION REGARDING TRANSACTIONS THROUGH EDWARD JONES |
1.1 Minimum
Purchase Amounts |
• Initial
purchase minimum: $250 |
• Subsequent
purchase minimum: none |
1.2 Minimum
Balances |
• Edward
Jones has the right to redeem at its discretion fund holdings with a
balance of $250 or less. The following are examples of accounts that are
not included in this policy: |
• A
fee-based account held on an Edward Jones platform
• A
529 account held on an Edward Jones platform
• An
account with an active systematic investment plan or LOI |
1.3 Exchanging
Share Classes |
• At
any time it deems necessary, Edward Jones has the authority to exchange at
NAV a shareholder’s holdings in a fund to Class A shares of the same
fund. |
FRONT-END SALES CHARGE WAIVERS ON CLASS A SHARES AVAILABLE AT MERRILL |
• Employer-sponsored
retirement, deferred compensation and employee benefit plans (including
health savings accounts) and trusts used to fund those plans, provided
that the shares are not held in a commission-based brokerage account and
shares are held for the benefit of the plan |
• Shares
purchased by a 529 Plan (does not include 529 Plan units or 529-specific
share classes or equivalents) |
• Shares
purchased through a Merrill affiliated investment advisory
program |
• Shares
exchanged due to the holdings moving from a Merrill affiliated investment
advisory program to a Merrill brokerage (non-advisory) account pursuant to
Merrill’s policies relating to sales load discounts and
waivers |
• Shares
purchased by third-party investment advisors on behalf of their advisory
clients through Merrill’s platform |
• Shares
purchased through the Merrill Edge Self-Directed platform |
• Shares
purchased through reinvestment of capital gains distributions and dividend
reinvestment when purchasing shares of the same fund (but not any other
fund within the Aristotle Funds Series Trust) |
• Shares
exchanged from Class C (i.e.
level-load) shares of the same fund pursuant to Merrill’s policies
relating to sales load discounts and waivers |
• Employees
and registered representatives of Merrill or its affiliates and their
family members |
• Directors
or Trustees of the Fund, and employees of the Fund’s investment adviser or
any of its affiliates, as described in this
Prospectus |
• Eligible
shares purchased from the proceeds of redemptions within the Aristotle
Funds Series Trust, provided (1) the repurchase occurs within 90 days
following the redemption, (2) the redemption and purchase occur in the
same account, and (3) redeemed shares were subject to a front-end or
deferred sales load (known as Rights of Reinstatement). Automated
transactions (i.e. systematic purchases and withdrawals) and purchases
made after shares are automatically sold to pay Merrill’s account
maintenance fees are not eligible for reinstatement |
CDSC WAIVERS ON CLASS A AND CLASS C SHARES AVAILABLE AT MERRILL |
• Death
or disability of the shareholder |
• Shares
sold as part of a systematic withdrawal plan as described in the
Prospectus |
• Return
of excess contributions from an IRA Account |
• Shares
sold as part of a required minimum distribution for IRA and retirement
accounts pursuant to the Internal Revenue Code |
• Shares
sold to pay Merrill fees but only if the transaction is initiated by
Merrill |
• Shares
acquired through a Right of Reinstatement |
• Shares
held in retirement brokerage accounts, that are exchanged for a lower cost
share class due to transfer to certain fee-based accounts or
platforms |
• Shares
received through an exchange due to the holdings moving from a Merrill
affiliated investment advisory program to a Merrill brokerage
(non-advisory) account pursuant to Merrill’s policies relating to sales
load discounts and waivers |
FRONT-END LOAD DISCOUNTS AVAILABLE AT MERRILL: BREAKPOINTS, RIGHTS OF ACCUMULATION & LETTERS OF INTENT |
• Breakpoints
as described in this Prospectus |
• Rights
of Accumulation (“ROA”), which entitle shareholders to breakpoint
discounts as described in the Fund’s Prospectus, will be automatically
calculated based on the aggregated holding of Aristotle Funds Series Trust
assets held by accounts (including 529 program holdings, where applicable)
within the purchaser’s household at Merrill. Eligible Aristotle Funds
Series Trust assets not held at Merrill may be included in the ROA
calculation only if the shareholder notifies his or her financial advisor
about such assets |
• Letters
of Intent (“LOI”), which allow for breakpoint discounts based on
anticipated purchases within Aristotle Funds Series Trust, through
Merrill, over a 13-month period of time. |
FRONT-END SALES CHARGE WAIVERS ON CLASS A SHARES AVAILABLE AT MORGAN STANLEY WEALTH MANAGEMENT |
• Employer-sponsored
retirement plans (e.g., 401(k)
plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and
money purchase pension plans and defined benefit plans). For purposes of
this provision, employer-sponsored retirement plans do not include SEP
IRAs, Simple IRAs, SAR-SEPs or Keogh plans |
• Morgan
Stanley employee and employee-related accounts according to Morgan
Stanley’s account linking rules |
• Shares
purchased through reinvestment of dividends and capital gains
distributions when purchasing shares of the same fund |
• Shares
purchased through a Morgan Stanley self-directed brokerage
account |
• Class
C (i.e., level-load) shares that
are no longer subject to a contingent deferred sales charge and are
converted to Class A shares of the same fund pursuant to Morgan
Stanley Wealth Management’s share class conversion program |
• Shares
purchased from the proceeds of redemptions within the same fund family,
provided (i) the repurchase occurs within 90 days following the
redemption, (ii) the redemption and purchase occur in the same
account, and (iii) redeemed shares were subject to a front-end or
deferred sales charge. |
FRONT-END SALES LOAD WAIVERS ON CLASS A SHARES AVAILABLE AT OPCO |
• Employer-sponsored
retirement, deferred compensation and employee benefit plans (including
health savings accounts) and trusts used to fund those plans, provided
that the shares are not held in a commission-based brokerage account and
shares are held for the benefit of the plan |
• Shares
purchased by or through a 529 Plan |
• Shares
purchased through an OPCO affiliated investment advisory
program |
• Shares
purchased through reinvestment of capital gains distributions and dividend
reinvestment when purchasing shares of the same fund (but not any other
fund within the fund family) |
• Shares
purchased from the proceeds of redemptions within the same fund family,
provided (1) the repurchase occurs within 90 days following the
redemption, (2) the redemption and purchase occur in the same
account, and (3) redeemed shares were subject to a front-end or
deferred sales load (known as Rights of Restatement). |
• A
shareholder in the Fund’s Class C shares will have their shares converted
at NAV to Class A shares (or the appropriate share class) of the Fund
if the shares are no longer subject to a CDSC and the conversion is in
line with the policies and procedures of OPCO |
• Employees
and registered representatives of OPCO or its affiliates and their family
members |
• Directors
or Trustees of the Fund, and employees of the Fund’s investment adviser or
any of its affiliates, as described in this Prospectus |
CDSC WAIVERS ON CLASS A AND CLASS C SHARES AVAILABLE AT OPCO |
• Death
or disability of the shareholder |
• Shares
sold as part of a systematic withdrawal plan as described in the Fund’s
Prospectus |
• Return
of excess contributions from an IRA Account |
• Shares
sold as part of a required minimum distribution for IRA and retirement
accounts pursuant to the Internal Revenue Code |
• Shares
sold to pay OPCO fees but only if the transaction is initiated by
OPCO |
• Shares
acquired through a right of reinstatement |
FRONT-END LOAD DISCOUNTS AVAILABLE AT OPCO: BREAKPOINTS, RIGHTS OF ACCUMULATION and/or LETTERS OF INTENT |
• Breakpoints
as described in this Prospectus |
• Rights
of Accumulation (ROA) which entitle shareholders to breakpoint discounts
will be automatically calculated based on the aggregated holding of fund
family assets held by accounts within the purchaser’s household at OPCO.
Eligible fund family assets not held at OPCO may be included in the ROA
calculation only if the shareholder notifies his or her financial advisor
about such assets |
FRONT-END SALES LOAD WAIVERS ON CLASS A SHARES AVAILABLE AT RAYMOND JAMES |
• Shares
purchased in an investment advisory program. |
• Shares
purchased within the same fund family through a systematic reinvestment of
capital gains and dividend distributions. |
• Employees
and registered representatives of Raymond James or its affiliates and
their family members as designated by Raymond James. |
• Shares
purchased from the proceeds of redemptions within the same fund family,
provided (1) the repurchase occurs within 90 days following the
redemption, (2) the redemption and purchase occur in the same
account, and (3) redeemed shares were subject to a front-end or
deferred sales load (known as Rights of Reinstatement). |
• A
shareholder in the Fund’s Class C shares will have their shares converted
at NAV to Class A shares (or the appropriate share class) of the Fund
if the shares are no longer subject to a CDSC and the conversion is in
line with the policies and procedures of Raymond James. |
CDSC WAIVERS ON CLASS A AND CLASS C SHARES AVAILABLE AT RAYMOND JAMES |
• Death
or disability of the shareholder. |
• Shares
sold as part of a systematic withdrawal plan as described in the Fund’s
Prospectus. |
• Return
of excess contributions from an IRA Account. |
• Shares
sold as part of a required minimum distribution for IRA and retirement
accounts due to the shareholder reaching the qualified age based on
applicable IRS regulations as described in the Fund’s
Prospectus. |
• Shares
sold to pay Raymond James fees but only if the transaction is initiated by
Raymond James. |
• Shares
acquired through a right of reinstatement. |
FRONT-END LOAD DISCOUNTS AVAILABLE AT RAYMOND JAMES: BREAKPOINTS, RIGHTS OF ACCUMULATION, AND/OR LETTERS OF INTENT |
• Breakpoints
as described in this Prospectus |
• Rights
of accumulation which entitle shareholders to breakpoint discounts will be
automatically calculated based on the aggregated holding of fund family
assets held by accounts within the purchaser’s household at Raymond James.
Eligible fund family assets not held at Raymond James may be included in
the calculation of rights of accumulation only if the shareholder notifies
his or her financial advisor about such assets. |
• Letters
of intent which allow for breakpoint discounts based on anticipated
purchases within a fund family, over a 13-month time period. Eligible fund
family assets not held at Raymond James may be included in the calculation
of letters of intent only if the shareholder notifies his or her financial
advisor about such assets. |