Barrow Hanley Total Return Bond Fund (BTRIX)

A fundamental, valuation-centric strategy focused on capturing a yield advantage by investing in investment-grade corporate bonds and structured products―with opportunistic exposure to high yield securities―while seeking to minimize volatility and provide repeatable results through disciplined risk controls.

The Fund, managed by a team with deep experience investing together through multiple market cycles, utilizes the full breadth of the firm’s fundamental research capabilities to identify companies across the market-cap spectrum to exploit inefficiencies resulting in a differentiated portfolio.

Investment Objective:

The Fund seeks to provide maximum long-term total return.

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 investment grade securities on a bottom-up basis. Our team focuses primarily on fundamental securities analysis.

Strategy Summary:

Asset Class	US Fixed Income
Investment Style	Bottom-Up Security Selection
Benchmark	Bloomberg U.S. Aggregate Bond Index
Class Institutional Shares	BTRIX

Expense Ratio	Gross	Net*
Class Institutional Shares	0.57%	0.35%

^{*The Fund’s investment adviser has contractually agreed to waive fees and reimburse expenses (excluding certain expenses as disclosed in the Fund’s prospectus) to maintain the net expense ratio disclosed above until February 1, 2026.}

Key Documents

Fund Fact Sheet Holdings 2023 Year-End Capital Gain Distributions Direct Investment Application All Documents

Past performance does not guarantee future results and current performance may be lower or higher than the data quoted.

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 +1-866-260-9549. Read the prospectus and summary prospectus carefully before investing. Investing includes the risk of loss.

Perpetual Americas Funds Services serves as investment adviser to the Fund. Barrow Hanley serves as investment sub-adviser to the Fund and is responsible for the management of the Fund’s portfolio of securities.

^{Distributed by Perpetual Americas Funds Distributors, LLC, member FINRA/SIPC; not affiliated with Perpetual Americas Funds Services.}

^{Copyright © 2022 Perpetual Asset Management International.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE}

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