30/07/2024 | Press release | Distributed by Public on 30/07/2024 20:40
Aristotle Floating Rate Income Fund
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Summary Prospectus
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July 29, 2024
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Share Class | ||||
A | C | I | I-2 | |
Maximum Sales Charge (load) imposed on purchases (as a percentage of offering price) | 3.00% | None | None | None |
Maximum Deferred Sales Charge (load) (as a percentage of the purchase price or redemption price, whichever is less) | None | 1.00% | None | None |
Share Class | |||||
A | C | I | I-2 | ||
Management Fee1
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0.75% | 0.75% | 0.67% | 0.75% | |
Distribution (12b-1) and/or Service Fee | 0.25% | 1.00% | None | None | |
Other Expenses2
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0.04% | 0.04% | 0.04% | 0.04% | |
Acquired Fund Fees and Expenses3
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0.02% | 0.02% | 0.02% | 0.02% | |
Total Annual Fund Operating Expenses | 1.06% | 1.81% | 0.73% | 0.81% | |
Less Fee Waiver4
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(0.01)% | (0.01)% | (0.01)% | (0.01)% | |
Total Annual Fund Operating Expenses after Fee Waiver | 1.05% | 1.80% | 0.72% | 0.80% | |
1
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The Management Fee consists of an Advisory Fee and a Supervision and Administration Fee paid to Aristotle Investment Services, LLC. The Advisory Fee is borne by the Fund at the same annual rate for all share classes of 0.55% of the average net assets. The Supervision and Administration Fee is borne separately by each class at an annual rate of 0.20% for Class A, Class C and Class I-2 and 0.12% for Class I of the average net assets of the class.
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2
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"Other Expenses" include interest expense of 0.01%. Interest expense is borne by the Fund separately from the management fees paid to Aristotle Investment Services, LLC.
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3
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Acquired Fund Fees and Expenses are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies and have been estimated based on expected allocations to underlying funds.
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4
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Aristotle Investment Services, LLC has contractually agreed, through July 31, 2025, to waive its management fees to the extent that the Fund's Total Annual Fund Operating Expenses exceed 1.02% for Class A, 1.77% for Class C, 0.72% for Class I and 0.77% for Class I-2. Aristotle Investment Services, LLC may not recoup these waivers in future periods. This agreement may only be terminated or amended prior to July 31, 2025 by the Fund's Board of Trustees.
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Your expenses (in dollars) if you SELL your shares | ||||
at the end of each period. | ||||
Share Class | ||||
A | C | I | I-2 | |
1 year | $404 | $283 | $74 | $82 |
3 years | $626 | $568 | $232 | $258 |
5 years | $866 | $979 | $405 | $449 |
10 years | $1,554 | $2,126 | $906 | $1,001 |
Your expenses (in dollars) if you DON'T SELL your shares | ||||
at the end of each period. | ||||
Share Class | ||||
A | C | I | I-2 | |
1 year | $404 | $183 | $74 | $82 |
3 years | $626 | $568 | $232 | $258 |
5 years | $866 | $979 | $405 | $449 |
10 years | $1,554 | $2,126 | $906 | $1,001 |
Calendar Year Total Returns (%) |
Average Annual Total Returns
(For the periods ended December 31, 2023) |
1 year | 5 years | 10 years |
Class I (incepted June 30, 2011) (before taxes)
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13.90% | 5.39% | 4.13% |
Class I (after taxes on distributions)
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9.78% | 3.04% | 1.97% |
Class I (after taxes on distributions and sale of Fund shares)
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8.10% | 3.10% | 2.17% |
Class A (incepted December 30, 2011) (before taxes)
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10.29% | 4.43% | 3.52% |
Class C (incepted December 30, 2011) (before taxes)
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11.72% | 4.31% | 3.08% |
Class I-2 (incepted June 29, 2012) (before taxes)
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13.80% | 5.33% | 4.09% |
Bloomberg US Aggregate Bond Index (reflects no deductions for fees, expenses or taxes)1
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5.53% | 1.10% | 1.81% |
Credit Suisse Leveraged Loan Index (reflects no deductions for fees, expenses or taxes)1
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13.04% | 5.56% | 4.44% |
Portfolio Manager and Primary Title with Sub-Adviser |
Experience with Fund and Predecessor Fund
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J.P. Leasure, Senior Managing Director and
Portfolio Manager |
Since 2011
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Michael Marzouk, CFA, Senior Managing Director and Portfolio Manager
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Since 2011
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