HWIIX — Hotchkis and Wiley Capital Income Fund

HWIIX Fund Overview

HWIIX — Hotchkis and Wiley Capital Income Fund is a US mutual fund managed by Hotchkis & Wiley Funds /de/, categorised as Global (incl. US) Multi-Cap / All-Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Hotchkis & Wiley Funds /de/
• Category: Global (incl. US) Multi-Cap / All-Cap Value Equity
• Assets under management: $14.44M
• Ticker: HWIIX
• SEC CIK: 0001145022
• SEC series ID: S000030747
• Share class ID: C000095365

HWIIX Investment Objective and Strategy

Hotchkis and Wiley Capital Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Hotchkis & Wiley Funds /de/.

Investment objective

The Fund seeks high current income and long-term growth of income, as well as capital appreciation.

Principal investment strategy

The Fund normally invests in a diversified portfolio of debt and equity securities. The Fund may shift its investments from one asset class to another based on Hotchkis & Wiley Capital Management, LLCs (the Advisor) analysis of the best opportunities for the Funds portfolio in a given market. The equity securities in which the Fund invests consist primarily of common and preferred stocks with market capitalizations greater than $1 billion. Debt securities include all varieties of fixed, floating and variable rate instruments, convertible securities and investment grade and below investment grade fixed income securities (commonly known as junk bonds). The Fund seeks income by selecting investments such as corporate, foreign and U.S. Treasury bonds, as well as stocks with dividend yields that the Advisor believes are attractive.

The Fund may invest up to 100% of its total assets in bonds rated below investment grade, including a portion in defaulted securities. The Fund may invest up to 25% of its total assets in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers. Generally, the Fund may use derivatives as a means of hedging risk and to obtain exposure to markets, currencies, interest rates, sectors and individual issuers. The derivative instruments that the Fund may normally use include futures, forwards, options, swaps and other similar instruments. In selecting debt securities for the Fund, the Advisor develops an outlook for credit markets, interest rates, currency exchange rates and the economy, analyzes individual credit and call risks, and uses other security selection techniques.

The proportion of the Funds assets committed to investment in securities with particular characteristics (such as quality, sector, interest rate or maturity) varies based on the Advisors outlook for the U.S. economy and the economies of other countries in the world, the financial markets and other factors. In selecting equity securities for the Fund, the Advisor seeks to invest in undervalued stocks with high cash dividends and strong balance sheets. The Fund employs a fundamental value investing approach which seeks to exploit market inefficiencies created by irrational investor behavior. To identify these investment opportunities, the Fund employs a disciplined, bottom-up investment process highlighted by rigorous, internally-generated fundamental research. The Fund evaluates each sell candidate based on its specific risk and return characteristics which include: 1) relative valuation; 2) fundamental operating trends; 3) deterioration of fundamentals; and 4) diversification guidelines.

HWIIX Holdings

Top 10 holdings of Hotchkis and Wiley Capital Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all HWIIX holdings

HWIIX Portfolio Allocation

Asset-class allocation of Hotchkis and Wiley Capital Income Fund by percentage of net assets, from the latest SEC N-PORT filing.

HWIIX Costs and Fees

HWIIX costs about $81 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.81%
• Gross expense ratio: 1.34%
• Portfolio turnover: 43%
• Brokerage commissions: 7.05 bps of average net assets (SEC N-CEN)

HWIIX Cashflows

Over the 12 months to 2020-03, Hotchkis and Wiley Capital Income Fund had net inflows of $7.15M, from monthly SEC N-PORT filings.

HWIIX Debt Constituents

Largest debt holdings of Hotchkis and Wiley Capital Income Fund by percentage of net assets, from the latest SEC N-PORT filing.

HWIIX Prospectus and SEC Filings

Official Hotchkis and Wiley Capital Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-09-20
• Prospectus (485BPOS) — filed 2018-09-13
• Prospectus supplement (497) — filed 2020-05-20
• Portfolio holdings (N-PORT) — filed 2020-05-22
• Portfolio holdings (N-PORT) — filed 2020-01-30
• Portfolio holdings (N-PORT) — filed 2019-10-30
• Annual census (N-CEN) — filed 2019-09-12
• Annual census (N-CEN) — filed 2018-09-12

Related Funds

Other Global (incl. US) Multi-Cap / All-Cap Value Equity funds tracked on ABC INVEST:

• Victory Market Neutral Income Fund (CBHAX)
• AMG Yacktman Focused Fund (YAFFX)
• Vanguard Advice Select Global Value Fund (VAGVX)
• John Hancock Disciplined Value Global Long/Short Fund (JAKWX)
• Tweedy, Browne Insider + Value ETF (COPY)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.