The Mid-Cap Value Fund is managed by a three-person team led by Executive Chairman George Davis, who has 37 years at Hotchkis & Wiley and 41 years in the investment industry, along with Stanford MBA credentials and extensive experience in equity research. Stanley Majcher serves as portfolio manager since 1997, specializing in energy companies and coordinating day-to-day portfolio management with expertise in energy and financials sectors, holding CFA and Georgetown University credentials. Hunter Doble joined as portfolio manager in 2019, focusing on banks and financial companies with additional expertise in healthcare, holding CFA designation and degrees from Georgetown University and NYU Stern. The team collectively brings decades of value investing experience with deep sector expertise in financials and energy. The management approach emphasizes bottom-up fundamental research, concentrated high-conviction investing, and long-term value creation. Hotchkis & Wiley Capital Management is an employee-owned firm managing $32 billion in assets with over 45 years of investment management experience since 1980.

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The Hotchkis & Wiley Mid-Cap Value Fund employs a fundamental value investing approach that seeks to exploit market inefficiencies created by irrational investor behavior. The fund normally invests at least 80% of its net assets in equity securities of mid-capitalization companies, typically those with market capitalizations similar to the Russell Midcap® Index. The investment process focuses on identifying 50-80 undervalued mid-sized companies with sustainable cash flow, strong balance sheets, and potential for long-term capital appreciation. The fund tends to invest in industries and companies that may be temporarily overlooked due to cyclical or transient factors, seeking to capitalize on market inefficiencies. The team evaluates general and industry-specific Environmental, Social, and Governance (ESG) factors that they believe to be financially material to a company's enterprise value. The strategy employs a concentrated portfolio approach with high conviction investments and maintains a buy-and-hold philosophy evidenced by low turnover rates.

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