Trillium ESG Small/Mid Cap Fund

Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the fund relative to the return of the benchmark index is a fund’s alpha. Standard deviation is a measure of the dispersion of a set of data from its mean. The Weighted Average Market Capitalization is a stock market index weighted by the market capitalization of each stock in the index. The Weighted Harmonic Avg P/B is the weighted average of the price/book ratios of all the stocks in a portfolio. The Weighted Harmonic Avg fwd P/E is the ratio of the portfolio’s total market value to the total earnings of the portfolio. The Russell 2500 is a market cap weighted index that includes the smallest 2,500 companies covered in the Russell 3000 universe of United States-based listed equities.

The S&P Indices are widely recognized, unmanaged indices of common stock. The S&P 1000 combines the S&P MidCap 400 and the S&P Small Cap 600, to form a benchmark for the small-mid cap universe of the U.S. equity market. Returns reported reflect the net total return index, which reinvests dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.

The S&P 400 Index serves as a barometer for the U.S. mid-cap equities sector. The S&P 600 Index covers a broad range of small cap stocks in theUnited States.

An investment cannot be made directly in an index.

‍The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other important information about the investment company, and it may be obtained by calling (866) 260-9549, or visiting trilliuminvest.com. Read it carefully before investing.

Fund holdings and sector allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.References to other mutual funds should not to be considered an offer to buy or sell these securities.

Mutual fund investing involves risk. Principal loss is possible.

‍Trillium’s ESG Small/Mid Cap Fund may invest in foreign securities, which are subject to the risks of currency fluctuations, political and economic instability and differences in accounting methods. Investing in foreign securities is riskier than investing in domestic securities. The Fund invests in smaller and medium companies, which involve additional risks such as limited liquidity and greater volatility. Trillium’s ESG Small/Mid Cap Fund environmental policy could cause it to make or avoid investments that could result in the portfolio under performing similar funds that do not have an environmental policy. There are no assurances that the fund will achieve its objective and/or strategy. Diversification does not assure a profit or protect against a loss in a declining market.

Trillium ESG Small/Mid Cap Fund is distributed by Perpetual Americas Funds Distributors, LLC

The Trillium ESG Global Equity Fund and the Trillium ESG Small/Mid Cap Fund are distributed by Perpetual Americas Funds Distributors, LLC. Perpetual Americas Funds Services serves as investment adviser to the Funds and Trillium Asset Management serves as investment sub-adviser to the Funds.

The Trillium ESG Global Equity Fund and Trillium ESG Small/Mid Cap Fund reorganized into newly established series of Perpetual Americas Funds Trust on October 30, 2023 following shareholder approval (the “Reorganization”).  Following the Reorganization, each Fund assumed the financial and performance history of its corresponding predecessor fund, the Trillium ESG Global Equity Fund and Trillium ESG Small/Mid Cap Fund, respectively, each previously a series of Professionally Managed Portfolios.
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The Trillium ESG Small/Mid Cap Fund summary prospectus and statutory prospectus and The Trillium ESG Global Equity Fund summary prospectus and statutory prospectus contain more complete information including risks, fees and expenses related to ongoing investment in the Funds. Read carefully before you invest or send money. You may also obtain a hard copy of the statutory prospectus and/or summary prospectus by calling (866) 260-9549.
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Mutual fund investing involves risk. Principal loss is possible. The Funds invest in foreign securities which involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater for investments in emerging markets. The Funds may invest in smaller and medium sized companies, which involve additional risks such as limited liquidity and greater volatility. The environmental policy of the Funds could cause it to make or avoid investments that could result in the portfolio underperforming similar funds that do not have an environmental policy. There are no assurances that the Funds will achieve their objective and/or strategy. Diversification does not assure a profit or protect against a loss in a declining market. Earnings growth is not a measure of the Fund’s future performance.

The S&P 1000® Index combines the S&P MidCap 400® and the S&P SmallCap 600® to form an investable benchmark for the mid- to small-cap segment of the United States equity market.

The Russell 2500 Index is a market cap weighted index that includes the smallest 2,500 companies covered in the Russell 3000 universe of United States-based listed equities.
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‍The Trillium ESG Global Equity Fund and the Trillium ESG Small/Mid Cap Fund are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of the Funds in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.
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Please click here for Trillium ESG Small/Mid Cap Fund holdings. Current and future portfolio holdings and sector allocations are subject to change at any time and are not recommendations to buy or sell any security. Opinions expressed as those of the Funds, are subject to change, are not guaranteed and should not be considered investment advice.

Return on Invested Capital (ROIC): A calculation used to assess a company’s efficiency at allocating the capital under its control to profitable investments. Return on invested capital gives a sense of how well a company is using its money to generate returns.

‍Cash Flow: The sum of the after-tax profit of a business plus depreciation and other non-cash charges.