HOTCHKIS & WILEY DIVERSIFIED VALUE FUND CLASS C 

The investment seeks capital appreciation. The fund normally invests in equity securities of large capitalization companies that are considered by the Advisor to be undervalued. The Advisor currently considers large cap companies to be those with market capitalizations like those found in the Russell 1000® Index, although the Advisor will generally not purchase stock in a company with a market capitalization of less than $3 billion.