Oaktree Emerging Markets Equity Fund

Quick Links
Fact Sheet
Prospectus

Overview

Seeks long-term growth of capital. Invests primarily in equity securities, including common and preferred stocks, of emerging market companies.

Managed by Oaktree Capital Management

Provides access to a portfolio of emerging market opportunities diversified by sector and geography

Follows Oaktree’s philosophy and their contrarian, value-oriented and risk-controlled approach

Performance

As of 04.30.25

Class / Benchmark	1 Month	3 Months	YTD	1 Year	3 Years	5 Years	10 Years	Inception
Class I	-1.03%	3.63%	6.94%	5.24%	2.33%	-	-	-4.30%
Class I	2.91%	8.06%	8.06%	6.19%	0.22%	-	-	-4.13%
MSCI Emerging Net Total Return USD Index	1.31%	2.45%	4.28%	9.02%	3.85%	-	-	-2.97%
MSCI Emerging Net Total Return USD Index	0.63%	2.93%	2.93%	8.09%	1.44%	-	-	-3.36%

Class / Benchmark	1 Month	3 Months	YTD	1 Year	3 Years	5 Years	10 Years	Inception
Class A (including sales load)	-5.73%	-1.28%	1.84%	-0.03%	-	-	-	1.63%
Class A (excluding sales load)	-1.02%	3.62%	6.92%	5.02%	-	-	-	3.33%
Class A (including sales load)	-2.01%	2.90%	2.90%	0.75%	-	-	-	2.04%
Class A (excluding sales load)	2.90%	8.02%	8.02%	5.82%	-	-	-	3.80%
MSCI Emerging Net Total Return USD Index	1.31%	2.45%	4.28%	9.02%	-	-	-	6.23%
MSCI Emerging Net Total Return USD Index	0.63%	2.93%	2.93%	8.09%	-	-	-	5.93%

Performance data quoted represent past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Returns representing more than one year are annualized.

Performance includes the reinvestment of income, dividends and capital gain distributions. Performance data excluding sales charges do not take into account any initial sales charges that may apply when shares are purchased or redemption charges when shares are sold; if these sales charges were reflected, the quoted performance would be lower.

Disclosures +

Fees & Expenses

Expenses (With Waiver)	Expenses (Without Waiver)	Waiver Expiry	Class A Maximum Sales Charge
0.95%	1.22%	04.30.2026	4.75%

Fees & Expenses are as reflected in the Fund's current prospectus and assume a full year of Fund operations. Oaktree Fund Advisors, LLC, the Fund’s investment adviser (the “Adviser” or “Oaktree”), has contractually agreed to waive all or a portion of its investment advisory fees and/or to reimburse certain expenses of the Fund to the extent necessary to maintain the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding any front-end or contingent deferred sales loads, brokerage commissions and other transactional expenses, acquired fund fees and expenses, interest, taxes, and extraordinary, expenses, such as litigation; and other expenses not incurred in the ordinary course of the Fund’s business) at no more than 1.20% for Class A Shares, 1.95% for Class C Shares, and 0.95% for Class I Shares. There is no guarantee that such waiver/reimbursement will be continued.

Fees & Expenses

Expenses (With Waiver)	Expenses (Without Waiver)	Waiver Expiry	Class A Maximum Sales Charge
1.20%	1.49%	04.30.2026	4.75%

Portfolio

As of 03/31/2025

Characteristics

$236.7

Net Assets (USD $MM)

Number of Holdings

Top Holdings Concentration

Alibaba.com 7.1%

Tencent Holdings Ltd. 6.7%

ISHARES MSCI INDIA ETF 5.5%

ANGLOGOLD ASHANTI LTD 5.4%

Taiwan Semi. 5.3%

Samsung Elec. 4.6%

Freeport McMoran Copper 2.3%

Reliance Industries Limited 2.2%

Ping An Insurance Group 2.1%

HDFC Bank Limited 1.9%

Full Holdings

Asset Allocation

- Materials
  
  17.1%
- Consumer Discretionary
  
  15.9%
- Financials
  
  15.8%
- Information Technology
  
  15.0%
- Communication Services
  
  9.0%
- Consumer Staples
  
  5.5%
- Other
  
  5.5%
- Industrials
  
  5.3%
- Energy
  
  4.8%
- Health Care
  
  2.3%
- Real Estate
  
  2.1%
- Utilities
  
  1.7%

Geographic Allocation

Asia

75.8%

EMEA

14.2%

Latin America

10.0%

The top holdings will vary over time. There is no guarantee that the Fund currently holds any of the securities listed. The information above is based on the total assets of the Fund, excluding Cash. The holdings listed should not be considered recommendations to purchase or sell a particular security.

Sector and country allocations and asset classes determined by the Adviser are expressed as a percentage of total investments (by market value), excluding Cash, and will vary over time.

Other refers to the Fund’s holdings in additional assets, such as ETFs. For these holdings, underlying industry data is aggregated.

Distributions

As of 12.26.2024

Annual

Distribution Frequency

As of 12.26.2024

Annual

Distribution Frequency

Distribution History

Payable Date	Record Date	Ex date	Amount per Share	Qualified Dividend Income Per Share	Return of Capital Per Share	Short Term Capital Gain Per Share	Long Term Capital Per Share
12/27/2024	12/26/2024	12/27/2024	$0.1926	$0.1926	-	-	-
12/14/2023	12/13/2023	12/14/2023	$0.2190	$0.2190	-	-	-
12/15/2022	12/14/2022	12/15/2022	$0.1970	$0.1755	-	-	-
1/3/2022	12/31/2021	1/3/2022	$0.0058	$0.0058	-	-	-
12/16/2021	12/15/2021	12/16/2021	$0.0618	$0.0505	-	-	-

Distribution History

Payable Date	Record Date	Ex date	Amount per Share	Qualified Dividend Income Per Share	Return of Capital Per Share	Short Term Capital Gain Per Share	Long Term Capital Per Share
12/27/2024	12/26/2024	12/27/2024	$0.1681	$0.1681	-	-	-
12/14/2023	12/13/2023	12/14/2023	$0.2004	$0.2004	-	-	-
12/15/2022	12/14/2022	12/15/2022	$0.1767	$0.1574	-	-	-

The 30-Day SEC Yield does not include income that is determined to be from return of capital. The 30-Day Yield represents net investment income earned by the Fund over the 30-day period as of the most recent quarter-end, expressed as an annual percentage rate based on the Fund's share price at the end of the 30-day period. The 30-Day Unsubsidized SEC Yield does not reflect any fee waivers, reimbursements, limits in effect.

The distribution rate referenced above is calculated as the annualized amount of the most recent quarterly distribution declared, including distributions from long-term capital gains and excluding special distributions, divided by Net Asset Value per share as of the most recent quarter-end. This calculation does not include any non-income items such as loan proceeds or borrowings. The Fund estimates that it has distributed net investment income and net realized capital gains. The ﬁnal tax character of the distributions will be reported on IRS Form 1099-DIV.

Portfolio Management

Frank Carroll

Managing Director, Portfolio Manager

Janet Wang

Managing Director, Co-Portfolio Manager

Literature

Fund Materials

Regulatory Documents

Related Information

Fund Risks

Investing in the Fund involves risk, including possible loss of principal invested. There can be no assurance that the Fund will achieve its investment objective.

The Fund invests in equity securities of emerging market companies as part of its principal investment strategy.

Foreign securities involve additional risks, including but not limited to exchange rate changes, political and economic upheaval, and relatively low market liquidity. As a result, the risks described relating to investments in foreign securities, including the risks of nationalization or expropriation of assets, would be heightened in emerging markets. In addition, unanticipated political or social developments may affect the values of the Fund's investments and the availability to the Fund of additional investments in such emerging markets.

The small size and inexperience of the securities markets in certain emerging markets and the limited volume of trading in securities in those markets may make the Fund's investments in such countries less liquid and more volatile than investments in countries with more developed securities markets (such as the U.S., Japan and most Western European countries).

The Fund is new, with a limited operating history, and there can be no assurance that the Fund will grow or maintain an economically viable size, in which case the Board of Trustees of the Fund may decide to liquidate the Fund.

Oaktree Emerging Markets Equity Fund

Quick Links

Overview

Performance

As of 04.30.25

As of 03.31.25

As of 04.30.25

As of 03.31.25

Fees & Expenses

Fees & Expenses

Portfolio

As of 03/31/2025

Characteristics

Top Holdings Concentration

Asset Allocation

Geographic Allocation

Distributions

As of 12.26.2024

As of 12.26.2024

Distribution History

Distribution History

Portfolio Management

Frank Carroll

Janet Wang

Literature

Fund Materials

Regulatory Documents

Related Information

Fund Risks