Aristotle/Saul Global Opportunities Fund

Aristotle/Saul Global Opportunities Fund

Ticker: ARSOX
CUSIP: 461 418 287
Inception: March 30, 2012
Managers: Howard Gleicher, CFA
Alberto Jimenez Crespo, CFA
Gregory D. Padilla, CFA
Expense Ratio: 1.33% (Gross)
1.00% (Net)

Prospectus | Summary | SAI | Fact Sheet | 3Q17 Investor Presentation 
Capital Gains Estimates

Quarterly Commentaries

2017: Q1 | Q2 | Q3

2016: Q1 | Q2 | Q3 | Q4

2015: Q1 | Q2 | Q3 | Q4

2014: Q1 | Q2 | Q3 | Q4

For standardized performance, please click here.

 

Investment Objective

The Aristotle/Saul Global Opportunities Fund (the “Fund”) seeks to maximize long-term capital appreciation and income.

The Fund’s investment objective is not fundamental and may be changed by the Board of Trustees without shareholder approval upon at least 60 days’ prior written notice to shareholders. There is no assurance that the Fund will achieve its investment objective.
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Principal Strategies

In pursuing its investment objective, the Fund seeks attractive risk-adjusted returns by investing in securities trading at significant discounts to their fair value. The Fund will generally invest approximately 80% of its assets in equity securities that are listed on an exchange or that are otherwise publicly traded in the United States or in a foreign country. However, the Fund may also invest in a variety of other instruments traded in U.S. and foreign markets, including, but not limited to, fixed income securities, convertible securities and unlisted equity securities.

In selecting investments for the Fund, the Fund’s investment advisor, Aristotle Capital Management, LLC (the “Advisor”), employs a fundamental, bottom-up approach. The Advisor focuses first on the quality of businesses and then considers whether the companies’ securities are available at attractive prices. The Advisor considers both U.S. and foreign companies in seeking to identify potential investments for the Fund. The Fund generally will not seek to limit its exposure to U.S. or foreign issuers or markets to a specific percentage of its portfolio. The Fund will generally hold its investments for the long term.

In addition, the Fund may pursue tactical investment strategies from time to time in order to seek favorable returns on securities that the Advisor believes are overvalued based on its assessment of their price. These tactical strategies may include, for example, short sales, warrants, futures, distressed debt, preferred securities, convertibles and options based on the Advisor’s assessment of the fair value of the instrument or, as applicable, the underlying or related instrument (e.g., the stock on which an option is purchased). The Fund may also pursue merger arbitrage opportunities in an effort to profit from any discount in the price of a target company’s stock prior to the closing of a merger.

The Fund generally seeks favorable performance relative to its benchmark, the MSCI All Country World Index (Net). However, the Advisor is not constrained by the composition of the MSCI All Country World Index in selecting investments for the Fund.

When the Advisor believes that current market, economic, political or other conditions are unsuitable and would impair the pursuit of the Fund’s investment objective, the Fund may invest up to 100% of its assets in cash, cash equivalents or debt instruments issued by entities that carry an investment-grade rating by a national ratings agency.
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Performance

1 The Fund has an inception date of March 30, 2012.

The total annual operating expenses are 1.33%, and net operating expenses are 1.00%.

Returns for performance under one year are cumulative, not annualized. Short-term performance, in particular, is not a good indication of the Fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing volatility, fund performance may be subject to substantial short-term changes.

Performance data quoted here represent past performance. Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information quoted. To obtain performance information current to the most recent month-end, please call (844) 274-7868.

The Fund’s advisor has contractually agreed to waive certain fees and/or absorb expenses through April 30, 2019 to the extent that the total annual operating expenses do not exceed 0.98% of the Fund’s average daily net assets. The Fund’s advisor may seek reimbursement from the Fund for waived fees and/or expenses paid for three years from the date of the waiver or payment. A redemption fee of 1.00% will be imposed on redemptions of shares within 30 days of purchase.
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Top Ten Equity Holdings*

Security % of Portfolio
Samsung Electronics 4.2%
Microsoft 3.5%
Agnico Eagle Mines 3.2%
LVMH Moët Hennessy Louis Vuitton 3.0%
Experian 3.0%
Danaher 3.0%
Astella Pharma 2.9%
UBS Group 2.8%
Kubota 2.7%
Medtronic 2.6%
Total 30.9%

View entire portfolio holdings here.

* Holdings as of June 30, 2017. Percentage weights are based on the total Fund and are subject to change.

Holdings are available within the last 12 months.

Portfolio composition will change due to ongoing management of the Fund. References to specific securities or sectors should not be construed as recommendations by the Fund, its Advisor or Distributor.

An investment in the Fund is subject to risks, and you could lose money on your investment in the Fund. The principal risks of investing in the Fund include, but are not limited to, investing in foreign securities, emerging markets, short sales, derivatives, below-investment-grade bonds, convertible securities and exchange-traded funds (ETFs). Read More…