Aristotle International Equity Fund

Aristotle International Equity Fund

Ticker: ARSFX
CUSIP: 461 41P 297
Inception: March 31, 2014
Managers: Sean M. Thorpe
Geoffrey S. Stewart, CFA
Howard Gleicher, CFA
Expense Ratio: 1.36% (Gross)
0.80% (Net)


Prospectus | Summary Prospectus | SAIFact Sheet

2018 Capital Gains Estimates

Quarterly Commentaries

2019: Q1
Q1 | Q2 Q3 Q4
2017: Q1 | Q2 | Q3 | Q4

Investment Objective

The investment objective of the Aristotle International Equity Fund (the “Fund”) is to seek long-term capital appreciation.

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. The Fund’s investment strategies and policies may be changed from time to time without shareholder approval or prior written notice, unless specifically stated otherwise in the Prospectus or the Statement of Additional Information (“SAI”).
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Principal Strategies

Under normal circumstances, the Fund invests at least 80% of its net assets (including amounts borrowed for investment purposes) in publicly traded equity securities or depository receipts of companies organized, headquartered or doing a substantial amount of business outside of the United States. The Fund’s investment advisor, Aristotle Capital Management, LLC (the “Advisor”), considers a company that has at least 50% of its assets located outside the United States or derives at least 50% of its revenue from business outside the United States as doing a substantial amount of business outside the United States. The Fund generally invests in securities of companies located in different regions and in at least three different countries.  The Fund intends to invest no more than 20% of its total assets in companies organized, headquartered or doing a substantial amount of business in emerging market countries under normal market conditions.

The Fund’s investments in equity securities may include common stocks, preferred stocks, warrants and rights. The Fund’s investments in depository receipts may include American, European and Global Depository Receipts (“ADRs,” “EDRs,” and “GDRs,” respectively). ADRs are receipts that represent interests in foreign securities held on deposit by U.S. banks. EDRs and GDRs have the same qualities as ADRs, except that they may be traded in several international trading markets. The Fund may invest in companies of any market capitalization.

In pursuing the Fund’s investment objective, the Advisor employs a fundamental, bottom-up research driven approach to identify companies for investments of the Fund. The Advisor focuses on those companies that it believes have high quality businesses that are undervalued by the market relative to what the Advisor believes to be their fair value. The Advisor seeks to identify high quality companies by focusing on the following attributes: attractive business fundamentals, strong financials, experienced, motivated company management, and high and/or consistently improving market position, return on invested capital or operating margins.
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1 The Fund has an inception date of March 31, 2014.

The total annual operating expenses are 1.36%, and net operating expenses are 0.80%.

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 its fees and/or pay for operating expenses through April 30, 2020 to the extent that the total annual operating expenses do not exceed 0.80% of the Fund’s average daily net assets. The Fund’s advisor may seek reimbursement for 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
LVMH Moët Hennessy Louis Vuitton 4.4%
Accenture 4.3%
Dassault Systèmes 3.9%
Experian 3.6%
Heineken 3.5%
Brookfield Asset Management 3.4%
Compass Group 3.3%
Nidec 3.1%
Unilever 3.1%
Safran 3.1%
Total 35.5%

View entire portfolio holdings here.

* Holdings as of March 31, 2019. 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, small-capitalization and mid-capitalization companies. Read More…