Address And Details

725 S. Figueroa St., 39th Fl , Los Angeles, CA 90017
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

The Fund seeks high current income combined with the opportunity for capital appreciation to maximize total return. The Fund normally invests at least 80% of its net assets plus borrowings for investment purposes in a diversified portfolio of high yield securities ("junk bonds"), which may be represented by forward contracts or derivatives ( i.e. , valued at market price) such as options, futures contracts or swap agreements, rated below investment grade ( i.e. , rated below Baa by Moody's Investors Service, Inc. ("Moody's"), or equivalently rated by Standard & Poor's ("S&P") or Fitch Ratings ("Fitch"), or, if unrated, determined by the Advisor to be of comparable quality).  For purposes of the 80% test, derivatives will be valued at market value rather than notional value.  The Fund may not invest more than 10% of its total assets in fixed income securities rated Caa or below by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by Hotchkis & Wiley Capital Management, LLC (the "Advisor") to be of comparable quality. The Fund may also invest in investment grade fixed income instruments. The average portfolio duration of the Fund normally will vary within two years (plus or minus) of the duration of the ICE BofAML BB-B U.S. High Yield Constrained Index, which as of June 30, 2017 was 3.84 years. Duration measures the price sensitivity of a bond to changes in interest rates, calculated by the dollar weighted average time to maturity of a bond utilizing the present value of all future cash flows.  For example, the share price of a fund with a duration of three years would be expected to fall approximately 3% if interest rates rose by one percentage point.

Net Asset Value

as of 5:00 PM ET 09/15/2021


  • 1 Week
  • +0.26%
  • 1 Month
  • +1.13%
  • 3 Months
  • -0.09%
  • 1 Yr Return
  • +8.22%
  • 5 Yr Return
  • n/a

Equity Sector Breakdown

ConsumerDurables n/a
Energy n/a
Finance n/a
Health n/a
IndustrialCyclical n/a
NonDurables n/a
RetailTrade n/a
Services n/a
Technology n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Bonds 88.19%
Stocks 5.96%
Other 2.51%
Convertible 1.26%
Preferred 1.19%
Cash 0.89%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 150.08 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha 1.77 n/a n/a
Beta 0.50 n/a n/a
R Squared 0.02 n/a n/a
Std Deviation 11.31 n/a n/a
Sharpe Ratio 0.35 n/a n/a

Purchase Information

as of 5:29 PM ET 09/13/2021
Minimum Initial $1000000
Minimum Additional $100
Minimum Initial IRA $0


Timeframe Average Annual Current Performance Monthly As Of 08/31/2021 Average Annual Current Performance Quarterly As Of 05/31/2021 Avg Annual Current Performance Monthly As Of 08/31/2021 Avg Annual Current Performance Quarterly As Of 05/31/2021
1 Year
  • +13.02%
  • +20.55%
+13.02% +20.55%
3 Year
  • +4.56%
  • +4.66%
+4.56% +4.66%
10 Year
  • n/a
  • n/a
n/a n/a
Life Of Fund
  • +4.65%
  • +4.49%
+4.65% +4.49%

Top 10 Holdings

Symbol Company Name % Of Assets

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