X0101 EFFECT 33 LIVE 2020-06-15 11:00:00

N-14

0001145022 HOTCHKIS & WILEY FUNDS /DE/ 333-238323 0001145022 HOTCHKIS & WILEY FUNDS /DE/ S000025241 Hotchkis & Wiley High Yield Fund C000075208 Class A 0001145022 HOTCHKIS & WILEY FUNDS /DE/ S000030747 Hotchkis & Wiley Capital Income Fund C000095366 Class A 0001145022 HOTCHKIS & WILEY FUNDS /DE/ S000025241 Hotchkis & Wiley High Yield Fund C000075210 Class I 0001145022 HOTCHKIS & WILEY FUNDS /DE/ S000030747 Hotchkis & Wiley Capital Income Fund C000095365 Class I