Barrow Hanley Emerging Markets Value Fund (BEMVX, BEMYX)

A dedicated value manager operating within the emerging markets universe dominated by growth peers.

The Fund is managed by a team with deep experience investing through multiple market cycles. Its consistent, repeatable process identifies companies across the market cap spectrum to exploit inefficiencies resulting in a differentiated portfolio.

Investment Objective:

The Fund seeks long term capital appreciation and consistent income from dividends.

Investment Overview:

We believe markets are inefficient and that these inefficiencies can best be exploited through adherence to a valuation-centric investment process dedicated to the selection of securities on a bottom-up basis. Our team focuses primarily on fundamental securities analysis, valuation, and prospects for a return to fair valuation.

Strategy Summary:

Asset Class	Emerging Markets Equity
Investment Style	Value
Benchmark	MSCI Emerging Markets Value Index
Class I Shares	BEMVX
Class Y Shares	BEMYX

Expense Ratio	Gross	Net*
Class I Shares	2.06%	0.99%
Class Y Shares	2.21%	1.14%

^{*The Fund’s Adviser has contractually agreed to waive fees and/or reimburse expenses to limit fund operating expenses until 2/28/23.}

Investment Summary:

Key Documents

Prospectus

Summary prospectus

Summary of Additional Information

2022 Year-end estimated distributions

Direct Investment Application

Important Information:

^{The Fund involves a high level of risk and may not be appropriate for everyone. You should only consider it for the aggressive portion of your portfolio. The Fund’s returns will vary, and you could lose money by investing in the Fund. The Fund holds equities which may decline in value due to both real and perceived general market, economic, and industry conditions. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. The securities of emerging market companies may be subject to greater volatility and less liquidity than companies in more developed markets. Individual securities may not perform as expected or a strategy used by the Adviser may fail to produce its intended result. Currency rates may fluctuate significantly over short periods of time and may reduce the returns of a portfolio.}

^{The MSCI Emerging Markets Value Index captures large and mid-cap securities exhibiting overall value style characteristics across 25 Emerging Markets (EM) countries: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.}

Please carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. This and other information is contained in the Fund’s prospectus and summary prospectus, which you may obtain by calling +1-866-778-6397. Read the prospectus and summary prospectus carefully before investing. Investing includes the risk of loss.

^{Distributed by SEI Investments Distribution Co., member FINRA/SIPC; not affiliated with Perpetual Asset Management (Americas).}