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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file Number: 811-07470
CARILLON SERIES TRUST
(Exact name of Registrant as Specified in Charter)
880 Carillon Parkway
St. Petersburg, FL 33716
(Address of Principal Executive Office) (Zip Code)
Registrant’s Telephone Number, including Area Code: (727) 567-8143
SUSAN L. WALZER, PRINCIPAL EXECUTIVE OFFICER
880 Carillon Parkway
St. Petersburg, FL 33716
(Name and Address of Agent for Service)
Copy to:
KATHY KRESCH INGBER, ESQ.
K&L Gates LLP
1601 K Street, NW
Washington, D.C. 20006
Date of fiscal year end: October 31
Date of reporting period: April 30, 2018
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Item 1. Reports to Shareholders
Table of Contents
Semiannual Report | ||
for the six-month period ended | ||
April 30, 2018 (unaudited) | ||
Equity Funds | ||
Carillon ClariVest Capital Appreciation Fund | ||
Carillon ClariVest International Stock Fund | ||
Carillon Cougar Tactical Allocation Fund | ||
Carillon Eagle Growth & Income Fund | ||
Carillon Eagle Mid Cap Growth Fund | ||
Carillon Eagle Mid Cap Stock Fund | ||
Carillon Eagle Small Cap Growth Fund | ||
Carillon Eagle Smaller Company Fund | ||
Carillon Scout International Fund | ||
Carillon Scout Mid Cap Fund | ||
Carillon Scout Small Cap Fund | ||
Fixed Income Funds | ||
Carillon Reams Core Bond Fund | ||
Carillon Reams Core Plus Bond Fund | ||
Carillon Reams Unconstrained Bond Fund |
Table of Contents
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Dear Fellow Shareholders:
I am pleased to present the semiannual report of the Carillon Family of Funds for the six-month period that ended April 30, 2018.
The funds’ investment adviser, Carillon Tower Advisers, Inc. (“Carillon Tower”), acquired Scout Investments, Inc. (“Scout”) and its Reams Asset Management division (“Reams”) following the close of business on November 17, 20171. This acquisition allowed further expansion of the range of distinctive investment teams and strategies that we can offer clients. Scout subadvises small-cap, mid-cap and international funds, as well as Reams’ core, core plus, and unconstrained funds. The investment teams share Carillon Tower’s strong commitment to a client-first focus and the core beliefs that drive their investment culture: that independent investment boutiques can lead to better ideas and that active management can lead to better long-term outcomes.
Each subadviser’s approach is based on research and investment in specific securities, with a focus on persistent, fundamental factors, rather than daily news and price movements. Portfolio managers build unique portfolios based upon the experience and insights of their investment teams.
With regard to the markets: in January, volatility returned amid concerns over inflation, rising interest rates, quantitative tightening, talk of “trade wars”, and the sudden implosion of certain levered short-volatility strategies. Although volatility was high on a relative basis, such market choppiness is not unusual; indeed, investors can reasonably expect to see more unrest across equities and fixed income. We believe that such markets, with movements less tethered to fundamentals, can present specific opportunities for experienced active managers. Evidence suggests that global economic growth remains reasonably strong, as reflected in positive indicators and broad, robust earnings results; however, risk awareness is warranted.
The U.S. Federal Reserve has clearly messaged a program of increasing interest rates this year, along with an unwinding of its quantitative easing program. In addition, recent domestic tax cuts and spending programs may increase the level of federal borrowing. Historically, gradually rising interest rates—from a low level, impelled by stronger economic growth—have not been an impediment to higher stock prices. The investment teams continuously monitor the potential for a flattening yield curve and other macroeconomic-level phenomena, in addition to performing proprietary security-specific research.
As with all investments, I would remind you that investing in any mutual fund carries certain risks. Carefully consider the investment objectives, charges and expenses of any fund before you invest. Contact Carillon Fund Services at 800.421.4184, carillontower.com, or your financial adviser for a prospectus, or summary prospectus, which contains this and other important information about the Carillon Family of Funds. Read the prospectus, or summary prospectus, carefully before you invest or send money.
In uncertain times, I believe that there is little substitute for active research and experience. We are grateful for your continued support of the Carillon Family of Funds.
Sincerely,
J. Cooper Abbott, CFA
President
June 25, 2018
1 On June 1, 2017, in connection with the internal restructuring of the investment management business of Raymond James Financial, Inc. (“RJF”), Carillon Tower succeeded Eagle Asset Management, Inc. (“Eagle”) as the investment adviser to the funds in the Carillon Family of Funds. At that time, Carillon Tower entered into a subadvisory agreement with: (1) Eagle with respect to the Carillon Eagle Growth & Income Fund, the Carillon Eagle Mid Cap Growth Fund, Carillon Eagle Mid Cap Stock Fund, Carillon Eagle Small Cap Growth Fund and the Carillon Eagle Smaller Company Fund; (2) Cougar Global Investments, Inc. (“Cougar”) with respect to the Carillon Cougar Tactical Allocation Fund; and (3) ClariVest Asset Management LLC (“ClariVest”) with respect to the Carillon ClariVest Capital Appreciation Fund and the Carillon ClariVest International Stock Fund. Following the close of business on November 17, 2018, Carillon Tower acquired Scout and its Reams asset management division, and seven series of Scout Funds were reorganized into corresponding newly-created series of Carillon Series Trust (“Carillon Scout Funds”). The Carillon Scout Funds are advised by Carillon Tower and subadvised by Scout.
Carillon Tower is a wholly-owned subsidiary of RJF. Eagle, Scout and Carillon Fund Services, Inc. (“CFS”) are wholly-owned subsidiaries of Carillon Tower. Cougar is wholly-owned by Raymond James International Canada, which is wholly-owned by Raymond James International Holdings, a wholly-owned subsidiary of RJF. Eagle owns Carillon Fund Distributors, Inc. (“CFD”) and 45% of ClariVest. CFD serves as the distributor and CFS serves as the shareholder servicing agent to the Carillon Family of Funds.
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of Morgan Stanley Capital International, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.
1 |
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Investment Portfolios
(UNAUDITED) | 04.30.2018 |
COMMON STOCKS—99.6% | Shares | Value | ||||||||||
Household durables—1.3% | ||||||||||||
D.R. Horton, Inc. | 136,500 | $ 6,025,110 | ||||||||||
Insurance—0.6% | ||||||||||||
The Progressive Corp. | 42,300 | 2,550,267 | ||||||||||
Internet & direct marketing retail—4.9% | ||||||||||||
Amazon.com, Inc.* | 14,200 | 22,239,046 | ||||||||||
Internet software & services—10.7% | ||||||||||||
Alphabet, Inc., Class A* | 12,114 | 12,339,078 | ||||||||||
Alphabet, Inc., Class C* | 12,212 | 12,423,634 | ||||||||||
eBay, Inc.* | 138,100 | 5,231,228 | ||||||||||
Facebook, Inc., Class A* | 110,400 | 18,988,800 | ||||||||||
IT services—7.7% | ||||||||||||
Amdocs Ltd. | 48,500 | 3,261,625 | ||||||||||
Fiserv, Inc.* | 72,800 | 5,158,608 | ||||||||||
Global Payments, Inc. | 21,900 | 2,475,795 | ||||||||||
MasterCard, Inc., Class A | 53,430 | 9,524,966 | ||||||||||
Visa, Inc., Class A | 69,300 | 8,792,784 | ||||||||||
Worldpay, Inc., Class A* | 74,446 | 6,046,504 | ||||||||||
Life sciences tools & services—1.6% | ||||||||||||
Thermo Fisher Scientific, Inc. | 34,400 | 7,236,040 | ||||||||||
Machinery—3.7% | ||||||||||||
Caterpillar, Inc. | 52,800 | 7,622,208 | ||||||||||
Ingersoll-Rand PLC | 32,700 | 2,743,203 | ||||||||||
Oshkosh Corp. | 35,400 | 2,554,464 | ||||||||||
Parker-Hannifin Corp. | 13,800 | 2,271,756 | ||||||||||
Stanley Black & Decker, Inc. | 11,900 | 1,684,921 | ||||||||||
Media—0.5% | ||||||||||||
Comcast Corp., Class A | 79,000 | 2,479,810 | ||||||||||
Metals & mining—1.2% | ||||||||||||
Steel Dynamics, Inc. | 118,500 | 5,309,985 | ||||||||||
Multiline retail—0.7% | ||||||||||||
Kohl’s Corp. | 54,133 | 3,362,742 | ||||||||||
Oil, gas & consumable fuels—0.8% | ||||||||||||
Valero Energy Corp. | 32,500 | 3,605,225 | ||||||||||
Pharmaceuticals—1.8% | ||||||||||||
Johnson & Johnson | 37,900 | 4,793,971 | ||||||||||
Merck & Co., Inc. | 58,700 | 3,455,669 | ||||||||||
Semiconductors & semiconductor equipment—4.8% | ||||||||||||
Applied Materials, Inc. | 144,600 | 7,182,282 | ||||||||||
KLA-Tencor Corp. | 19,800 | 2,014,452 | ||||||||||
Lam Research Corp. | 33,100 | 6,125,486 | ||||||||||
NVIDIA Corp. | 29,400 | 6,612,060 | ||||||||||
Software—10.5% | ||||||||||||
Activision Blizzard, Inc. | 64,300 | 4,266,305 | ||||||||||
Adobe Systems, Inc.* | 30,700 | 6,803,120 | ||||||||||
Electronic Arts, Inc.* | 41,800 | 4,931,564 | ||||||||||
Microsoft Corp. | 285,000 | 26,653,200 | ||||||||||
Synopsys, Inc.* | 62,200 | 5,318,722 | ||||||||||
Specialty retail—3.1% | ||||||||||||
Ross Stores, Inc. | 36,700 | 2,967,195 | ||||||||||
The Home Depot, Inc. | 59,600 | 11,014,080 | ||||||||||
Technology hardware, storage & peripherals—6.4% | ||||||||||||
Apple, Inc. | 150,166 | 24,816,433 | ||||||||||
NetApp, Inc. | 65,400 | 4,354,332 |
2 | The accompanying notes are an integral part of the financial statements |
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Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON CLARIVEST CAPITAL APPRECIATION FUND (cont’d) | ||||||||||||
COMMON STOCKS—99.6% | Shares | Value | ||||||||||
Textiles, apparel & luxury goods—1.5% | ||||||||||||
PVH Corp. | 43,500 | $ 6,945,645 | ||||||||||
Trading companies & distributors—0.7% | ||||||||||||
United Rentals, Inc.* | 20,300 | 3,045,000 | ||||||||||
Total common stocks (cost $283,518,085) |
| 454,001,242 | ||||||||||
Total investment portfolio (cost $283,518,085)—99.6% | 454,001,242 | |||||||||||
Other assets in excess of liabilities—0.4% | 2,040,183 | |||||||||||
Total net assets—100.0% | $456,041,425 |
* Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Information technology | 41.2% | |||
Consumer discretionary | 17.7% | |||
Health care | 15.9% | |||
Industrials | 10.9% | |||
Consumer staples | 5.9% | |||
Financials | 4.1% | |||
Materials | 3.1% | |||
Energy | 0.8% |
COMMON STOCKS—93.3% | Shares | Value | ||||||||||
Germany (cont’d) | ||||||||||||
Daimler AG | 1,706 | $ 134,122 | ||||||||||
Deutsche Lufthansa AG | 2,923 | 84,958 | ||||||||||
Leoni AG | 1,989 | 124,566 | ||||||||||
Siltronic AG | 649 | 103,922 | ||||||||||
TAG Immobilien AG | 4,176 | 88,247 | ||||||||||
Hong Kong—2.0% | ||||||||||||
CK Asset Holdings Ltd. | 6,172 | 53,282 | ||||||||||
Kerry Properties Ltd. | 13,000 | 62,147 | ||||||||||
Xinyi Glass Holdings Ltd.* | 202,000 | 290,395 | ||||||||||
Israel—1.4% | ||||||||||||
Bank Leumi Le-Israel B.M. | 13,380 | 78,937 | ||||||||||
Israel Discount Bank Ltd., Class A* | 48,594 | 134,553 | ||||||||||
Tower Semiconductor Ltd.* | 2,763 | 72,058 | ||||||||||
Italy—2.3% | ||||||||||||
Enel SpA | 57,052 | 361,922 | ||||||||||
Intesa Sanpaolo SpA | 31,288 | 119,018 | ||||||||||
Japan—27.9% | ||||||||||||
ANA Holdings, Inc. | 2,600 | 102,919 | ||||||||||
Asahi Group Holdings Ltd. | 7,200 | 364,217 | ||||||||||
Cosmo Energy Holdings Co. Ltd. | 1,900 | 62,592 | ||||||||||
Fujitsu Ltd. | 13,000 | 78,812 | ||||||||||
Fukuoka Financial Group, Inc. | 13,000 | 69,604 | ||||||||||
Hanwa Co. Ltd. | 2,500 | 109,230 | ||||||||||
Haseko Corp. | 5,100 | 80,221 | ||||||||||
Hitachi Ltd. | 51,000 | 372,226 | ||||||||||
Honda Motor Co. Ltd. | 6,400 | 220,070 | ||||||||||
ITOCHU Corp. | 24,200 | 483,962 | ||||||||||
JFE Holdings, Inc. | 6,300 | 129,291 | ||||||||||
JXTG Holdings, Inc. | 30,600 | 199,474 | ||||||||||
KDDI Corp. | 3,800 | 102,006 | ||||||||||
Kyocera Corp. | 2,500 | 159,733 | ||||||||||
Marubeni Corp. | 57,700 | 433,302 | ||||||||||
Mitsubishi Chemical Holdings Corp. | 9,000 | 85,136 | ||||||||||
Mitsubishi UFJ Financial Group, Inc. | 33,100 | 221,814 | ||||||||||
Mitsui Chemicals, Inc. | 5,100 | 146,198 | ||||||||||
Nichirei Corp. | 3,800 | 110,084 | ||||||||||
Nippon Electric Glass Co. Ltd. | 2,600 | 74,927 | ||||||||||
Nippon Light Metal Holdings Co. Ltd. | 13,400 | 35,819 | ||||||||||
Nippon Suisan Kaisha Ltd. | 10,900 | 59,073 | ||||||||||
Nippon Telegraph & Telephone Corp. | 7,600 | 360,659 | ||||||||||
Nipro Corp. | 6,400 | 92,115 | ||||||||||
Penta-Ocean Construction Co. Ltd. | 11,500 | 90,630 | ||||||||||
SCREEN Holdings Co. Ltd. | 1,300 | 106,333 | ||||||||||
SoftBank Group Corp. | 2,500 | 191,022 | ||||||||||
Sony Corp. | 3,800 | 177,483 | ||||||||||
Sumitomo Corp. | 11,500 | 206,431 | ||||||||||
Sumitomo Mitsui Financial Group, Inc. | 3,800 | 158,377 | ||||||||||
The Hiroshima Bank Ltd. | 8,800 | 66,966 | ||||||||||
The Kansai Electric Power Co., Inc. | 5,100 | 71,358 | ||||||||||
Tokyo Electron Ltd. | 1,300 | 249,669 | ||||||||||
Toyota Motor Corp. | 5,100 | 334,419 | ||||||||||
Netherlands—5.2% | ||||||||||||
Aegon N.V. | 17,580 | 128,840 | ||||||||||
AerCap Holdings N.V.* | 2,000 | 104,260 | ||||||||||
ASR Nederland N.V. | 6,085 | 286,991 | ||||||||||
NN Group N.V. | 7,626 | 365,474 | ||||||||||
NXP Semiconductors N.V.* | 1,800 | 188,820 |
The accompanying notes are an integral part of the financial statements | 3 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON CLARIVEST INTERNATIONAL STOCK FUND (cont’d) | ||||||||||||
COMMON STOCKS—93.3% | Shares | Value | ||||||||||
Norway—0.6% | ||||||||||||
Aker BP ASA | 3,548 | $ 116,373 | ||||||||||
Singapore—2.6% | ||||||||||||
DBS Group Holdings Ltd. | 8,900 | 205,342 | ||||||||||
Oversea-Chinese Banking Corp. Ltd. | 26,500 | 273,708 | ||||||||||
Yanlord Land Group Ltd. | 40,700 | 51,899 | ||||||||||
Spain—1.5% | ||||||||||||
Banco Santander S.A. | 18,377 | 118,732 | ||||||||||
Iberdrola S.A. | 15,430 | 119,211 | ||||||||||
Repsol S.A. | 3,778 | 72,095 | ||||||||||
Sweden—2.6% | ||||||||||||
Ahlsell AB | 23,832 | 142,302 | ||||||||||
Boliden AB | 2,597 | 89,985 | ||||||||||
Svenska Cellulosa AB SCA, Class B | 7,269 | 80,502 | ||||||||||
Tele2 AB, Class B | 8,808 | 114,169 | ||||||||||
Volvo AB, Class B | 7,078 | 119,946 | ||||||||||
Switzerland—11.7% | ||||||||||||
Baloise Holding AG | 1,757 | 278,493 | ||||||||||
Bossard Holding AG, Class A | 166 | 34,018 | ||||||||||
Lonza Group AG* | 1,221 | 298,329 | ||||||||||
Nestle S.A. | 5,614 | 434,917 | ||||||||||
Novartis AG | 5,241 | 403,422 | ||||||||||
Sika AG | 25 | 181,406 | ||||||||||
Straumann Holding AG | 280 | 190,072 | ||||||||||
Swiss Life Holding AG* | 547 | 191,351 | ||||||||||
UBS Group AG* | 10,949 | 183,778 | ||||||||||
Zurich Insurance Group AG | 751 | 239,896 | ||||||||||
United Kingdom—14.8% | ||||||||||||
3i Group PLC | 19,458 | 251,169 | ||||||||||
Ashtead Group PLC | 5,678 | 157,695 | ||||||||||
Aviva PLC | 20,365 | 147,966 | ||||||||||
Barclays PLC | 44,882 | 127,964 | ||||||||||
Bellway PLC | 3,005 | 136,928 | ||||||||||
BP PLC | 49,329 | 366,416 | ||||||||||
Carnival PLC | 3,412 | 221,766 | ||||||||||
Electrocomponents PLC | 8,148 | 68,117 | ||||||||||
Glencore PLC* | 29,436 | 141,794 | ||||||||||
HSBC Holdings PLC | 15,960 | 158,899 | ||||||||||
Lloyds Banking Group PLC | 149,870 | 132,928 | ||||||||||
Persimmon PLC | 2,699 | 100,823 | ||||||||||
Redrow PLC | 7,571 | 65,241 | ||||||||||
Royal Dutch Shell PLC, Class B | 14,704 | 524,919 | ||||||||||
Standard Chartered PLC | 13,113 | 137,740 | ||||||||||
Tesco PLC | 105,413 | 341,428 | ||||||||||
Total common stocks (cost $16,833,025) | 19,385,590 | |||||||||||
PREFERRED STOCKS—1.1% | ||||||||||||
Germany—1.1% | ||||||||||||
Volkswagen AG | 1,138 | 234,695 | ||||||||||
Total preferred stocks (cost $215,532) | 234,695 |
EXCHANGE TRADED FUNDS—1.0% | Shares | Value | ||||||||||
United States—1.0% | ||||||||||||
iShares MSCI EAFE ETF | 2,900 | $ 205,146 | ||||||||||
Total exchange traded funds (cost $203,653) | 205,146 | |||||||||||
Total investment portfolio (cost $17,252,210)—95.4% | 19,825,431 | |||||||||||
Other assets in excess of liabilities—4.6% | 957,040 | |||||||||||
Total net assets—100.0% | $20,782,471 |
* Non-income producing security
ETF—Exchange Traded Fund
Sector allocation | ||||
Sector | Percent of net assets | |||
Financials | 24.2% | |||
Industrials | 13.6% | |||
Consumer discretionary | 12.1% | |||
Information technology | 8.8% | |||
Energy | 7.5% | |||
Consumer staples | 7.3% | |||
Materials | 7.3% | |||
Health care | 5.7% | |||
Telecommunication services | 3.7% | |||
Utilities | 3.0% | |||
Real estate | 1.2% | |||
Exchange traded funds | 1.0% |
Industry allocation | ||||||||
Industry | Value | Percent of net assets | ||||||
Banks | $2,525,733 | 12.2% | ||||||
Insurance | 2,060,496 | 9.9% | ||||||
Trading companies & distributors | 1,671,200 | 8.0% | ||||||
Oil, gas & consumable fuels | 1,550,438 | 7.5% | ||||||
Automobiles | 1,128,581 | 5.4% | ||||||
Chemicals | 974,334 | 4.7% | ||||||
Semiconductors & semiconductor equipment | 720,802 | 3.5% | ||||||
Electronic equipment, instruments & components | 675,004 | 3.2% | ||||||
Pharmaceuticals | 611,751 | 2.9% | ||||||
Food products | 604,074 | 2.9% | ||||||
Auto components | 599,317 | 2.9% | ||||||
Construction & engineering | 588,100 | 2.8% | ||||||
Beverages | 580,168 | 2.8% | ||||||
Household durables | 560,696 | 2.7% | ||||||
Electric utilities | 552,491 | 2.7% |
4 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON CLARIVEST INTERNATIONAL STOCK FUND (cont’d) | ||||||||
Industry allocation (cont’d) | ||||||||
Industry | Value | Percent of net assets | ||||||
Metals & mining | $462,790 | 2.2% | ||||||
IT services | 439,431 | 2.1% | ||||||
Capital markets | 434,947 | 2.1% | ||||||
Wireless telecommunication services | 407,196 | 2.0% | ||||||
Diversified telecommunication services | 360,659 | 1.7% | ||||||
Food & staples retailing | 341,428 | 1.6% | ||||||
Airlines | 325,248 | 1.6% | ||||||
Life sciences tools & services | 298,329 | 1.4% | ||||||
Health care equipment & supplies | 282,186 | 1.4% | ||||||
Real estate management & development | 255,576 | 1.2% | ||||||
Hotels, restaurants & leisure | 221,766 | 1.1% | ||||||
Exchange traded funds | 205,146 | 1.0% | ||||||
Machinery | 119,946 | 0.6% | ||||||
Marine | 110,510 | 0.5% | ||||||
Paper & forest products | 80,502 | 0.4% | ||||||
Multi-utilities | 76,586 | 0.4% |
ETF—Exchange Traded Fund
Asset allocation | ||||
Asset class | Percent of net assets | |||
Equity | 85.5% | |||
Fixed income | 13.4% |
The accompanying notes are an integral part of the financial statements | 5 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON EAGLE GROWTH & INCOME FUND (cont’d) | ||||||||||||
COMMON STOCKS—98.7% | Shares | Value | ||||||||||
Pharmaceuticals—9.3% | ||||||||||||
Johnson & Johnson | 157,046 | $ 19,864,749 | ||||||||||
Merck & Co., Inc. | 236,593 | 13,928,230 | ||||||||||
Pfizer, Inc. | 573,756 | 21,005,207 | ||||||||||
Road & rail—2.9% | ||||||||||||
Union Pacific Corp. | 128,406 | 17,158,894 | ||||||||||
Software—4.5% | ||||||||||||
Microsoft Corp. | 279,411 | 26,130,517 | ||||||||||
Specialty retail—3.6% | ||||||||||||
The Home Depot, Inc. | 113,792 | 21,028,761 | ||||||||||
Technology hardware, storage & peripherals—3.8% | ||||||||||||
Apple, Inc. | 135,662 | 22,419,502 | ||||||||||
Tobacco—2.2% | ||||||||||||
Altria Group, Inc. | 227,022 | 12,738,204 | ||||||||||
Total common stocks (cost $387,913,490) | 577,995,863 | |||||||||||
Total investment portfolio (cost $387,913,490)—98.7% |
| 577,995,863 | ||||||||||
Other assets in excess of liabilities—1.3% | 7,753,146 | |||||||||||
Total net assets—100.0% | $585,749,009 |
ADR—American depository receipt
Sector allocation | ||||
Sector | Percent of net assets | |||
Health care | 13.4% | |||
Consumer discretionary | 12.6% | |||
Industrials | 12.3% | |||
Information technology | 11.8% | |||
Financials | 11.7% | |||
Consumer staples | 11.6% | |||
Energy | 9.2% | |||
Real estate | 6.7% | |||
Utilities | 4.4% | |||
Telecommunication services | 2.8% | |||
Materials | 2.2% |
COMMON STOCKS—97.9% | Shares | Value | ||||||||||
Auto components—0.8% | ||||||||||||
Aptiv PLC | 298,286 | $ 25,229,030 | ||||||||||
Banks—2.2% | ||||||||||||
Synovus Financial Corp. | 666,717 | 34,849,297 | ||||||||||
Western Alliance Bancorp* | 622,113 | 36,692,225 | ||||||||||
Beverages—2.8% | ||||||||||||
Constellation Brands, Inc., Class A | 180,546 | 42,090,689 | ||||||||||
Monster Beverage Corp.* | 911,725 | 50,144,875 | ||||||||||
Biotechnology—1.1% | ||||||||||||
BioMarin Pharmaceutical, Inc.* | 279,498 | 23,340,878 | ||||||||||
Incyte Corp.* | 226,750 | 14,044,895 | ||||||||||
Building products—2.3% | ||||||||||||
A.O. Smith Corp. | 468,057 | 28,715,297 | ||||||||||
Allegion PLC | 284,995 | 21,995,914 | ||||||||||
Fortune Brands Home & Security, Inc. | 442,674 | 24,209,841 | ||||||||||
Capital markets—3.8% | ||||||||||||
Ameriprise Financial, Inc. | 383,720 | 53,801,381 | ||||||||||
MarketAxess Holdings, Inc. | 169,173 | 33,602,833 | ||||||||||
Moody’s Corp. | 227,794 | 36,948,187 | ||||||||||
Chemicals—2.6% | ||||||||||||
Huntsman Corp. | 958,574 | 28,536,748 | ||||||||||
International Flavors & Fragrances, Inc. | 178,207 | 25,173,521 | ||||||||||
The Sherwin-Williams Co. | 84,977 | 31,242,644 | ||||||||||
Commercial services & supplies—2.5% | ||||||||||||
Waste Connections, Inc. | 1,118,085 | 80,837,545 | ||||||||||
Construction materials—1.6% | ||||||||||||
Martin Marietta Materials, Inc. | 261,627 | 50,957,091 | ||||||||||
Containers & packaging—1.0% | ||||||||||||
Ball Corp. | 805,398 | 32,288,406 | ||||||||||
Distributors—1.2% | ||||||||||||
Pool Corp. | 281,958 | 39,138,590 | ||||||||||
Diversified consumer services—0.7% | ||||||||||||
Bright Horizons Family Solutions, Inc.* | 240,459 | 22,814,750 | ||||||||||
Diversified telecommunication services—0.8% | ||||||||||||
Zayo Group Holdings, Inc.* | 727,682 | 26,414,857 | ||||||||||
Electronic equipment, instruments & components—5.8% | ||||||||||||
Amphenol Corp., Class A | 364,301 | 30,495,636 | ||||||||||
Coherent, Inc.* | 281,969 | 47,432,825 | ||||||||||
FLIR Systems, Inc. | 634,140 | 33,958,197 | ||||||||||
IPG Photonics Corp.* | 177,061 | 37,719,305 | ||||||||||
Keysight Technologies, Inc.* | 772,638 | 39,929,932 | ||||||||||
Equity real estate investment trusts (REITs)—2.0% | ||||||||||||
SBA Communications Corp.* | 412,057 | 66,023,893 | ||||||||||
Food products—0.6% | ||||||||||||
The Hain Celestial Group, Inc.* | 723,706 | 21,081,556 | ||||||||||
Health care equipment & supplies—7.1% | ||||||||||||
ABIOMED, Inc.* | 175,180 | 52,720,421 | ||||||||||
Align Technology, Inc.* | 198,314 | 49,548,753 | ||||||||||
Edwards Lifesciences Corp.* | 384,727 | 48,998,830 | ||||||||||
IDEXX Laboratories, Inc.* | 249,314 | 48,489,080 | ||||||||||
Intuitive Surgical, Inc.* | 73,987 | 32,611,990 | ||||||||||
Health care providers & services—1.9% | ||||||||||||
Centene Corp.* | 316,738 | 34,391,412 | ||||||||||
Cigna Corp. | 154,619 | 26,566,637 |
6 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON EAGLE MID CAP GROWTH FUND (cont’d) | ||||||||||||
COMMON STOCKS—97.9% | Shares | Value | ||||||||||
Hotels, restaurants & leisure—4.8% | ||||||||||||
ILG, Inc. | 1,273,887 | $ 43,477,763 | ||||||||||
MGM Resorts International | 1,339,375 | 42,083,162 | ||||||||||
Royal Caribbean Cruises Ltd. | 294,498 | 31,861,739 | ||||||||||
Vail Resorts, Inc. | 164,202 | 37,653,161 | ||||||||||
Household durables—0.8% | ||||||||||||
Lennar Corp., Class A | 464,178 | 24,550,374 | ||||||||||
Insurance—2.2% | ||||||||||||
The Progressive Corp. | 1,166,406 | 70,322,618 | ||||||||||
Internet & direct marketing retail—2.4% | ||||||||||||
Qurate Retail Group, Inc. QVC Group, Class A* | 2,376,069 | 55,623,775 | ||||||||||
TripAdvisor, Inc.* | 561,804 | 21,022,706 | ||||||||||
Internet software & services—0.8% | ||||||||||||
Spotify Technology S.A.* | 164,262 | 26,556,237 | ||||||||||
IT services—3.7% | ||||||||||||
DXC Technology Co. | 471,618 | 48,604,951 | ||||||||||
Square, Inc., Class A* | 853,686 | 40,413,495 | ||||||||||
Worldpay, Inc., Class A* | 382,639 | 31,077,940 | ||||||||||
Leisure products—1.2% | ||||||||||||
Brunswick Corp. | 659,673 | 39,501,219 | ||||||||||
Life sciences tools & services—2.1% | ||||||||||||
Illumina, Inc.* | 191,980 | 46,253,742 | ||||||||||
IQVIA Holdings, Inc.* | 236,395 | 22,637,185 | ||||||||||
Machinery—1.1% | ||||||||||||
WABCO Holdings, Inc.* | 273,229 | 35,243,809 | ||||||||||
Media—3.0% | ||||||||||||
Lions Gate Entertainment Corp., Class A | 749,023 | 18,643,183 | ||||||||||
Lions Gate Entertainment Corp., Class B | 310,166 | 7,140,021 | ||||||||||
Sirius XM Holdings, Inc. | 11,196,488 | 70,873,769 | ||||||||||
Multiline retail—1.0% | ||||||||||||
Dollar Tree, Inc.* | 332,281 | 31,862,425 | ||||||||||
Oil, gas & consumable fuels—3.3% | ||||||||||||
Diamondback Energy, Inc.* | 378,793 | 48,655,961 | ||||||||||
RSP Permian, Inc.* | 1,212,572 | 60,155,697 | ||||||||||
Pharmaceuticals—1.7% | ||||||||||||
Zoetis, Inc. | 679,372 | 56,713,975 | ||||||||||
Professional services—3.3% | ||||||||||||
IHS Markit Ltd.* | 811,137 | 39,851,161 | ||||||||||
TransUnion* | 1,050,949 | 68,217,099 | ||||||||||
Road & rail—1.0% | ||||||||||||
Old Dominion Freight Line, Inc. | 254,205 | 34,027,881 | ||||||||||
Semiconductors & semiconductor equipment—5.5% | ||||||||||||
Advanced Micro Devices, Inc.* | 4,465,032 | 48,579,548 | ||||||||||
Maxim Integrated Products, Inc. | 546,982 | 29,810,519 | ||||||||||
Microchip Technology, Inc. | 478,434 | 40,025,788 | ||||||||||
Micron Technology, Inc.* | 582,157 | 26,767,579 | ||||||||||
NVIDIA Corp. | 157,770 | 35,482,473 | ||||||||||
Software—10.4% | ||||||||||||
Autodesk, Inc.* | 327,081 | 41,179,498 | ||||||||||
Electronic Arts, Inc.* | 389,650 | 45,970,907 | ||||||||||
PTC, Inc.* | 401,790 | 33,087,406 | ||||||||||
ServiceNow, Inc.* | 224,783 | 37,345,448 | ||||||||||
Splunk, Inc.* | 475,902 | 48,851,340 |
COMMON STOCKS—97.9% | Shares | Value | ||||||||||
Software (cont’d) | ||||||||||||
Synopsys, Inc.* | 364,550 | $ 31,172,671 | ||||||||||
Tableau Software, Inc., Class A* | 387,396 | 32,948,030 | ||||||||||
The Ultimate Software Group, Inc.* | 127,964 | 30,701,123 | ||||||||||
Tyler Technologies, Inc.* | 165,034 | 36,129,243 | ||||||||||
Specialty retail—2.3% | ||||||||||||
Burlington Stores, Inc.* | 553,128 | 75,142,439 | ||||||||||
Trading companies & distributors—1.9% | ||||||||||||
United Rentals, Inc.* | 262,945 | 39,441,750 | ||||||||||
W.W. Grainger, Inc. | 83,009 | 23,354,582 | ||||||||||
Total common stocks (cost $2,454,374,514) | 3,190,512,311 | |||||||||||
Total investment portfolio (cost $2,454,374,514)—97.9% |
| 3,190,512,311 | ||||||||||
Other assets in excess of liabilities—2.1% | 69,874,596 | |||||||||||
Total net assets—100.0% | $3,260,386,907 |
* Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Information technology | 26.2% | |||
Consumer discretionary | 18.0% | |||
Industrials | 16.7% | |||
Health care | 14.0% | |||
Financials | 8.2% | |||
Materials | 5.2% | |||
Consumer staples | 3.5% | |||
Energy | 3.3% | |||
Real estate | 2.0% | |||
Telecommunication services | 0.8% |
The accompanying notes are an integral part of the financial statements | 7 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON EAGLE MID CAP STOCK FUND (cont’d) | ||||||||||||
COMMON STOCKS—96.9% | Shares | Value | ||||||||||
Capital markets (cont’d) | ||||||||||||
MarketAxess Holdings, Inc. | 12,253 | $ 2,433,813 | ||||||||||
Moody’s Corp. | 14,976 | 2,429,107 | ||||||||||
NASDAQ, Inc. | 35,992 | 3,178,814 | ||||||||||
Chemicals—2.0% | ||||||||||||
Huntsman Corp. | 41,753 | 1,242,987 | ||||||||||
International Flavors & Fragrances, Inc. | 11,967 | 1,690,458 | ||||||||||
The Sherwin-Williams Co. | 4,973 | 1,828,373 | ||||||||||
Commercial services & supplies—1.7% | ||||||||||||
Waste Connections, Inc. | 58,648 | 4,240,250 | ||||||||||
Construction & engineering—0.9% | ||||||||||||
Quanta Services, Inc.* | 68,272 | 2,218,840 | ||||||||||
Construction materials—1.3% | ||||||||||||
Martin Marietta Materials, Inc. | 15,744 | 3,066,459 | ||||||||||
Containers & packaging—0.5% | ||||||||||||
Ball Corp. | 30,728 | 1,231,886 | ||||||||||
Distributors—2.8% | ||||||||||||
LKQ Corp.* | 142,531 | 4,421,312 | ||||||||||
Pool Corp. | 16,410 | 2,277,872 | ||||||||||
Diversified consumer services—1.8% | ||||||||||||
Bright Horizons Family Solutions, Inc.* | 44,969 | 4,266,659 | ||||||||||
Diversified telecommunication services—0.7% | ||||||||||||
Zayo Group Holdings, Inc.* | 46,521 | 1,688,712 | ||||||||||
Electrical equipment—2.7% | ||||||||||||
AMETEK, Inc. | 93,033 | 6,493,703 | ||||||||||
Electronic equipment, instruments & components—4.9% | ||||||||||||
Amphenol Corp., Class A | 53,482 | 4,476,978 | ||||||||||
Cognex Corp. | 48,720 | 2,253,300 | ||||||||||
FLIR Systems, Inc. | 95,263 | 5,101,334 | ||||||||||
Equity real estate investment trusts (REITs)—2.2% | ||||||||||||
Crown Castle International Corp. | 18,698 | 1,886,068 | ||||||||||
SBA Communications Corp.* | 20,901 | 3,348,967 | ||||||||||
Food products—0.6% | ||||||||||||
The Hain Celestial Group, Inc.* | 50,154 | 1,460,986 | ||||||||||
Health care equipment & supplies—6.3% | ||||||||||||
ABIOMED, Inc.* | 12,339 | 3,713,422 | ||||||||||
Align Technology, Inc.* | 13,962 | 3,488,406 | ||||||||||
Intuitive Surgical, Inc.* | 4,903 | 2,161,144 | ||||||||||
Teleflex, Inc. | 11,975 | 3,207,863 | ||||||||||
West Pharmaceutical Services, Inc. | 29,066 | 2,563,912 | ||||||||||
Health care providers & services—4.2% | ||||||||||||
Centene Corp.* | 34,057 | 3,697,909 | ||||||||||
Laboratory Corp. of America Holdings* | 38,020 | 6,491,915 | ||||||||||
Health care technology—1.4% | ||||||||||||
Medidata Solutions, Inc.* | 48,068 | 3,430,132 | ||||||||||
Hotels, restaurants & leisure—1.4% | ||||||||||||
Wyndham Worldwide Corp. | 30,081 | 3,435,551 | ||||||||||
Household durables—1.8% | ||||||||||||
Mohawk Industries, Inc.* | 20,802 | 4,365,924 | ||||||||||
Industrial conglomerates—2.3% | ||||||||||||
Roper Technologies, Inc. | 20,887 | 5,518,137 |
COMMON STOCKS—96.9% | Shares | Value | ||||||||||
Insurance—3.7% | ||||||||||||
Arch Capital Group Ltd.* | 58,630 | $ 4,698,022 | ||||||||||
The Progressive Corp. | 70,067 | 4,224,339 | ||||||||||
IT services—3.4% | ||||||||||||
Amdocs Ltd. | 36,978 | 2,486,770 | ||||||||||
Fiserv, Inc.* | 54,803 | 3,883,341 | ||||||||||
Gartner, Inc.* | 15,332 | 1,859,618 | ||||||||||
Life sciences tools & services—1.9% | ||||||||||||
Agilent Technologies, Inc. | 70,327 | 4,623,297 | ||||||||||
Machinery—3.3% | ||||||||||||
Snap-on, Inc. | 29,352 | 4,263,378 | ||||||||||
The Middleby Corp.* | 29,625 | 3,728,010 | ||||||||||
Media—0.9% | ||||||||||||
Omnicom Group, Inc. | 31,222 | 2,299,813 | ||||||||||
Multiline retail—1.1% | ||||||||||||
Dollar Tree, Inc.* | 27,521 | 2,638,989 | ||||||||||
Oil, gas & consumable fuels—3.6% | ||||||||||||
Concho Resources, Inc.* | 34,343 | 5,399,063 | ||||||||||
Diamondback Energy, Inc.* | 25,037 | 3,216,003 | ||||||||||
Pharmaceuticals—3.1% | ||||||||||||
Catalent, Inc.* | 63,462 | 2,608,923 | ||||||||||
Zoetis, Inc. | 57,378 | 4,789,915 | ||||||||||
Professional services—1.3% | ||||||||||||
Verisk Analytics, Inc.* | 29,180 | 3,106,211 | ||||||||||
Road & rail—2.5% | ||||||||||||
Genesee & Wyoming, Inc., Class A* | 36,903 | 2,627,494 | ||||||||||
J.B. Hunt Transport Services, Inc. | 29,243 | 3,434,005 | ||||||||||
Semiconductors & semiconductor equipment—3.9% | ||||||||||||
Analog Devices, Inc. | 25,440 | 2,222,184 | ||||||||||
Microchip Technology, Inc. | 62,602 | 5,237,283 | ||||||||||
Skyworks Solutions, Inc. | 21,697 | 1,882,432 | ||||||||||
Software—7.1% | ||||||||||||
ANSYS, Inc.* | 15,294 | 2,472,428 | ||||||||||
Nice Ltd., Sponsored ADR* | 83,181 | 7,916,336 | ||||||||||
The Ultimate Software Group, Inc.* | 28,319 | 6,794,294 | ||||||||||
Specialty retail—0.8% | ||||||||||||
Ulta Beauty, Inc.* | 7,908 | 1,984,196 | ||||||||||
Textiles, apparel & luxury goods—1.3% | ||||||||||||
PVH Corp. | 20,127 | 3,213,678 | ||||||||||
Trading companies & distributors—1.0% | ||||||||||||
Fastenal Co. | 46,582 | 2,328,634 | ||||||||||
Total common stocks (cost $164,739,675) | 233,529,964 | |||||||||||
Total investment portfolio (cost $164,739,675)—96.9% |
| 233,529,964 | ||||||||||
Other assets in excess of liabilities—3.1% | 7,587,956 | |||||||||||
Total net assets—100.0% | $241,117,920 |
* Non-income producing security
ADR—American depository receipt
8 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON EAGLE MID CAP STOCK FUND (cont’d) | ||||
Sector allocation | ||||
Sector | Percent of net assets | |||
Information technology | 19.3% | |||
Health care | 17.6% | |||
Financials | 16.0% | |||
Industrials | 15.7% | |||
Consumer discretionary | 13.4% | |||
Consumer staples | 4.6% | |||
Materials | 3.8% | |||
Energy | 3.6% | |||
Real estate | 2.2% | |||
Telecommunication services | 0.7% |
COMMON STOCKS—97.5% | Shares | Value | ||||||||||
Commercial services & supplies—1.2% | ||||||||||||
Ritchie Bros Auctioneers, Inc. | 1,149,455 | $ 37,621,662 | ||||||||||
The Brink’s Co. | 345,004 | 25,461,295 | ||||||||||
Communications equipment—1.2% | ||||||||||||
Infinera Corp.* | 2,768,997 | 32,452,645 | ||||||||||
Lumentum Holdings, Inc.* | 594,857 | 30,010,536 | ||||||||||
Construction materials—0.7% | ||||||||||||
Summit Materials, Inc., Class A* | 1,366,287 | 38,447,316 | ||||||||||
Consumer finance—1.8% | ||||||||||||
FirstCash, Inc. | 370,597 | 32,130,760 | ||||||||||
Green Dot Corp., Class A* | 958,585 | 58,291,554 | ||||||||||
Distributors—1.3% | ||||||||||||
Pool Corp. | 464,924 | 64,536,100 | ||||||||||
Diversified consumer services—1.1% | ||||||||||||
Bright Horizons Family Solutions, Inc.* | 408,510 | 38,759,429 | ||||||||||
Weight Watchers International, Inc.* | 227,826 | 15,959,211 | ||||||||||
Electrical equipment—1.3% | ||||||||||||
Acuity Brands, Inc. | 268,780 | 32,191,781 | ||||||||||
Thermon Group Holdings, Inc.* | 1,591,313 | 36,266,023 | ||||||||||
Electronic equipment, instruments & components—5.6% | ||||||||||||
Cognex Corp. | 1,511,418 | 69,903,083 | ||||||||||
Coherent, Inc.* | 566,591 | 95,311,938 | ||||||||||
IPG Photonics Corp.* | 377,447 | 80,407,534 | ||||||||||
Littelfuse, Inc. | 226,749 | 42,383,923 | ||||||||||
Equity real estate investment trusts (REITs)—1.1% | ||||||||||||
Seritage Growth Properties, Class A | 1,032,564 | 36,728,301 | ||||||||||
The GEO Group, Inc. | 875,075 | 19,689,188 | ||||||||||
Food & staples retailing—0.9% | ||||||||||||
Casey’s General Stores, Inc. | 481,543 | 46,517,054 | ||||||||||
Health care equipment & supplies—3.6% | ||||||||||||
Insulet Corp.* | 404,355 | 34,774,530 | ||||||||||
Merit Medical Systems, Inc.* | 923,823 | 44,805,415 | ||||||||||
NuVasive, Inc.* | 739,039 | 39,324,265 | ||||||||||
Penumbra, Inc.* | 361,292 | 44,926,660 | ||||||||||
West Pharmaceutical Services, Inc. | 235,498 | 20,773,279 | ||||||||||
Health care providers & services—2.6% | ||||||||||||
Encompass Health Corp. | 791,396 | 48,132,705 | ||||||||||
HealthEquity, Inc.* | 752,482 | 49,415,493 | ||||||||||
Tivity Health, Inc.* | 992,903 | 35,694,863 | ||||||||||
Health care technology—3.9% | ||||||||||||
Cotiviti Holdings, Inc.* | 1,393,443 | 48,129,521 | ||||||||||
Evolent Health, Inc., Class A* | 1,501,931 | 24,781,862 | ||||||||||
Medidata Solutions, Inc.* | 511,726 | 36,516,767 | ||||||||||
Omnicell, Inc.* | 500,403 | 21,567,369 | ||||||||||
Teladoc, Inc.* | 1,663,489 | 71,530,027 | ||||||||||
Hotels, restaurants & leisure—4.1% | ||||||||||||
Dave & Buster’s Entertainment, Inc.* | 615,426 | 26,149,451 | ||||||||||
Penn National Gaming, Inc.* | 2,322,613 | 70,398,400 | ||||||||||
Planet Fitness, Inc., Class A* | 2,344,082 | 94,443,064 | ||||||||||
Wingstop, Inc. | 419,119 | 20,478,154 | ||||||||||
Household durables—1.3% | ||||||||||||
Universal Electronics, Inc.* | 1,502,697 | 69,574,871 | ||||||||||
Insurance—1.6% | ||||||||||||
Enstar Group Ltd.* | 244,572 | 51,396,806 |
The accompanying notes are an integral part of the financial statements | 9 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON EAGLE SMALL CAP GROWTH FUND (cont’d) | ||||||||||||
COMMON STOCKS—97.5% | Shares | Value | ||||||||||
Insurance (cont’d) | ||||||||||||
ProAssurance Corp. | 628,094 | $ 29,708,846 | ||||||||||
Internet & direct marketing retail—1.0% | ||||||||||||
Nutrisystem, Inc. | 1,827,262 | 52,990,598 | ||||||||||
Internet software & services—1.3% | ||||||||||||
Cornerstone OnDemand, Inc.* | 1,509,541 | 66,616,044 | ||||||||||
IT services—0.5% | ||||||||||||
Everi Holdings, Inc.* | 3,839,352 | 24,610,246 | ||||||||||
Life sciences tools & services—1.4% | ||||||||||||
PRA Health Sciences, Inc.* | 884,003 | 72,638,527 | ||||||||||
Machinery—5.5% | ||||||||||||
Chart Industries, Inc.* | 1,216,688 | 69,034,877 | ||||||||||
Graco, Inc. | 947,349 | 41,673,883 | ||||||||||
John Bean Technologies Corp. | 634,254 | 68,340,868 | ||||||||||
WABCO Holdings, Inc.* | 378,643 | 48,841,161 | ||||||||||
Woodward, Inc. | 777,879 | 55,960,615 | ||||||||||
Multiline retail—0.9% | ||||||||||||
Ollie’s Bargain Outlet Holdings, Inc.* | 782,688 | 48,683,194 | ||||||||||
Oil, gas & consumable fuels—2.9% | ||||||||||||
Diamondback Energy, Inc.* | 237,455 | 30,501,095 | ||||||||||
RSP Permian, Inc.* | 2,452,232 | 121,655,229 | ||||||||||
Pharmaceuticals—2.2% | ||||||||||||
Catalent, Inc.* | 584,355 | 24,022,834 | ||||||||||
Nektar Therapeutics* | 720,425 | 60,270,756 | ||||||||||
Zogenix, Inc.* | 693,531 | 27,255,768 | ||||||||||
Professional services—0.3% | ||||||||||||
WageWorks, Inc.* | 349,189 | 14,543,722 | ||||||||||
Road & rail—1.1% | ||||||||||||
Landstar System, Inc. | 583,979 | 59,361,465 | ||||||||||
Semiconductors & semiconductor equipment—2.4% | ||||||||||||
Entegris, Inc. | 2,077,267 | 66,887,998 | ||||||||||
Silicon Laboratories, Inc.* | 345,467 | 32,093,884 | ||||||||||
Veeco Instruments, Inc.* | 1,632,083 | 25,215,682 | ||||||||||
Software—14.3% | ||||||||||||
Ellie Mae, Inc.* | 355,896 | 34,475,646 | ||||||||||
Guidewire Software, Inc.* | 770,979 | 65,240,243 | ||||||||||
Imperva, Inc.* | 927,014 | 41,483,876 | ||||||||||
Manhattan Associates, Inc.* | 785,826 | 33,837,668 | ||||||||||
Pegasystems, Inc. | 1,065,831 | 65,068,983 | ||||||||||
Proofpoint, Inc.* | 632,558 | 74,603,891 | ||||||||||
PTC, Inc.* | 1,353,880 | 111,492,018 | ||||||||||
RealPage, Inc.* | 1,568,452 | 83,912,182 | ||||||||||
Tableau Software, Inc., Class A* | 592,916 | 50,427,506 | ||||||||||
Take-Two Interactive Software, Inc.* | 616,713 | 61,492,453 | ||||||||||
The Ultimate Software Group, Inc.* | 370,970 | 89,003,122 | ||||||||||
Tyler Technologies, Inc.* | 116,957 | 25,604,226 | ||||||||||
Specialty retail—4.7% | ||||||||||||
Burlington Stores, Inc.* | 452,398 | 61,458,268 | ||||||||||
Camping World Holdings, Inc., Class A | 1,051,949 | 30,117,300 | ||||||||||
Floor & Decor Holdings, Inc., Class A* | 488,529 | 27,157,327 | ||||||||||
Genesco, Inc.* | 1,321,749 | 56,504,770 | ||||||||||
MarineMax, Inc.* | 1,861,655 | 40,211,748 | ||||||||||
National Vision Holdings, Inc.* | 869,000 | 28,920,320 |
COMMON STOCKS—97.5% | Shares | Value | ||||||||||
Textiles, apparel & luxury goods—1.4% | ||||||||||||
Canada Goose Holdings, Inc.* | 335,135 | $ 12,426,806 | ||||||||||
Steven Madden Ltd. | 1,271,044 | 61,327,873 | ||||||||||
Thrifts & mortgage finance—0.8% | ||||||||||||
LendingTree, Inc.* | 182,764 | 43,570,938 | ||||||||||
Total common stocks (cost $3,520,255,840) | 5,043,159,922 | |||||||||||
CONTINGENT VALUE RIGHTS—0.0% | ||||||||||||
Dyax Corp.*(a) | 303,243 | 242,594 | ||||||||||
Total contingent value rights (cost $142,782) | 242,594 | |||||||||||
Total investment portfolio (cost $3,520,398,622)—97.5% |
| 5,043,402,516 | ||||||||||
Other assets in excess of liabilities—2.5% | 126,669,931 | |||||||||||
Total net assets—100.0% | $5,170,072,447 |
* Non-income producing security
(a) Security is fair valued, using significant unobservable inputs (Level 3), as determined in good faith in accordance with the Pricing and Valuation Procedures approved by the Board of Trustees. The security is also illiquid and may not be sold by the Fund. As of April 30, 2018, the total market value of fair valued and illiquid securities held by the Fund is $242,594, representing 0.0% of the Fund’s net assets.
Sector allocation | ||||
Sector | Percent of net assets | |||
Information technology | 25.2% | |||
Health care | 23.5% | |||
Consumer discretionary | 17.1% | |||
Industrials | 14.3% | |||
Financials | 9.1% | |||
Materials | 3.4% | |||
Energy | 2.9% | |||
Real estate | 1.1% | |||
Consumer staples | 0.9% |
10 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON EAGLE SMALLER COMPANY FUND (cont’d) | ||||||||||||
COMMON STOCKS—99.9% | Shares | Value | ||||||||||
Capital markets—2.7% | ||||||||||||
Cohen & Steers, Inc. | 15,325 | $ 614,532 | ||||||||||
Financial Engines, Inc. | 11,050 | 493,383 | ||||||||||
Chemicals—1.6% | ||||||||||||
Balchem Corp. | 7,480 | 660,035 | ||||||||||
Commercial services & supplies—2.0% | ||||||||||||
Healthcare Services Group, Inc. | 11,371 | 439,262 | ||||||||||
InnerWorkings, Inc.* | 36,125 | 364,862 | ||||||||||
Construction & engineering—2.5% | ||||||||||||
Dycom Industries, Inc.* | 9,900 | 1,028,214 | ||||||||||
Consumer finance—1.7% | ||||||||||||
Green Dot Corp., Class A* | 5,675 | 345,097 | ||||||||||
PRA Group, Inc.* | 9,597 | 341,653 | ||||||||||
Electronic equipment, instruments & components—5.9% | ||||||||||||
ePlus, Inc.* | 11,700 | 934,245 | ||||||||||
Fabrinet* | 10,550 | 297,616 | ||||||||||
II-VI, Inc.* | 24,025 | 915,352 | ||||||||||
nLight, Inc.* | 1,325 | 33,032 | ||||||||||
Plexus Corp.* | 4,425 | 242,667 | ||||||||||
Energy equipment & services—0.3% | ||||||||||||
Geospace Technologies Corp.* | 9,825 | 103,556 | ||||||||||
Equity real estate investment trusts (REITs)—1.1% | ||||||||||||
CareTrust REIT, Inc. | 17,975 | 237,449 | ||||||||||
QTS Realty Trust, Inc., Class A | 6,025 | 213,225 | ||||||||||
Food & staples retailing—1.6% | ||||||||||||
Performance Food Group Co.* | 20,575 | 667,659 | ||||||||||
Health care equipment & supplies—5.1% | ||||||||||||
Cutera, Inc.* | 9,075 | 455,111 | ||||||||||
ICU Medical, Inc.* | 4,947 | 1,245,160 | ||||||||||
Varex Imaging Corp.* | 11,475 | 412,985 | ||||||||||
Health care providers & services—12.0% | ||||||||||||
AMN Healthcare Services, Inc.* | 14,700 | 982,695 | ||||||||||
BioTelemetry, Inc.* | 20,975 | 801,245 | ||||||||||
HealthEquity, Inc.* | 12,125 | 796,249 | ||||||||||
LHC Group, Inc.* | 8,103 | 603,005 | ||||||||||
Molina Healthcare, Inc.* | 8,775 | 730,519 | ||||||||||
U.S. Physical Therapy, Inc. | 11,375 | 1,037,969 | ||||||||||
Health care technology—3.3% | ||||||||||||
HMS Holdings Corp.* | 21,650 | 389,916 | ||||||||||
Omnicell, Inc.* | 22,475 | 968,673 | ||||||||||
Hotels, restaurants & leisure—3.7% | ||||||||||||
Cracker Barrel Old Country Store, Inc. | 5,600 | 921,704 | ||||||||||
Lindblad Expeditions Holdings, Inc.* | 9,700 | 106,215 | ||||||||||
The Cheesecake Factory, Inc. | 9,225 | 479,239 | ||||||||||
Household durables—3.7% | ||||||||||||
Installed Building Products, Inc.* | 10,550 | 608,735 | ||||||||||
iRobot Corp.* | 6,325 | 369,127 | ||||||||||
LGI Homes, Inc.* | 7,875 | 544,950 | ||||||||||
Insurance—1.2% | ||||||||||||
CNO Financial Group, Inc. | 22,750 | 487,760 | ||||||||||
Internet software & services—6.6% | ||||||||||||
Carbonite, Inc.* | 25,650 | 797,715 | ||||||||||
Envestnet, Inc.* | 12,725 | 690,967 |
COMMON STOCKS—99.9% | Shares | Value | ||||||||||
Internet software & services (cont’d) | ||||||||||||
j2 Global, Inc. | 10,875 | $ 863,258 | ||||||||||
The Trade Desk, Inc., Class A* | 7,525 | 385,054 | ||||||||||
IT services—2.3% | ||||||||||||
Acxiom Corp.* | 6,825 | 177,313 | ||||||||||
Jack Henry & Associates, Inc. | 2,770 | 330,960 | ||||||||||
Virtusa Corp.* | 9,225 | 444,092 | ||||||||||
Life sciences tools & services—5.4% | ||||||||||||
Bruker Corp. | 25,075 | 740,465 | ||||||||||
Cambrex Corp.* | 11,975 | 634,076 | ||||||||||
PRA Health Sciences, Inc.* | 10,375 | 852,514 | ||||||||||
Machinery—4.7% | ||||||||||||
Albany International Corp., Class A | 8,775 | 519,041 | ||||||||||
Chart Industries, Inc.* | 6,975 | 395,762 | ||||||||||
Proto Labs, Inc.* | 8,500 | 1,012,775 | ||||||||||
Media—0.8% | ||||||||||||
John Wiley & Sons, Inc., Class A | 4,831 | 318,604 | ||||||||||
Metals & mining—0.6% | ||||||||||||
Carpenter Technology Corp. | 5,025 | 267,631 | ||||||||||
Oil, gas & consumable fuels—0.3% | ||||||||||||
Gulfport Energy Corp.* | 15,100 | 140,430 | ||||||||||
Pharmaceuticals—3.3% | ||||||||||||
Impax Laboratories, Inc.* | 14,150 | 266,020 | ||||||||||
Supernus Pharmaceuticals, Inc.* | 23,325 | 1,093,943 | ||||||||||
Professional services—3.1% | ||||||||||||
Insperity, Inc. | 10,775 | 864,694 | ||||||||||
WageWorks, Inc.* | 9,600 | 399,840 | ||||||||||
Semiconductors & semiconductor equipment—7.0% | ||||||||||||
Ambarella, Inc.* | 9,775 | 455,417 | ||||||||||
Entegris, Inc. | 15,700 | 505,540 | ||||||||||
Impinj, Inc.* | 11,650 | 143,179 | ||||||||||
Inphi Corp.* | 9,475 | 270,796 | ||||||||||
Power Integrations, Inc. | 7,528 | 510,398 | ||||||||||
Semtech Corp.* | 18,374 | 722,098 | ||||||||||
Veeco Instruments, Inc.* | 17,700 | 273,465 | ||||||||||
Software—3.1% | ||||||||||||
Pegasystems, Inc. | 13,775 | 840,964 | ||||||||||
The Descartes Systems Group, Inc.* | 14,350 | 424,042 | ||||||||||
Specialty retail—2.7% | ||||||||||||
Camping World Holdings, Inc., Class A | 10,650 | 304,909 | ||||||||||
Monro, Inc. | 14,300 | 800,085 | ||||||||||
Technology hardware, storage & peripherals—0.8% | ||||||||||||
Electronics For Imaging, Inc.* | 11,850 | 328,245 | ||||||||||
Textiles, apparel & luxury goods—0.9% | ||||||||||||
G-III Apparel Group Ltd.* | 10,500 | 383,145 | ||||||||||
Thrifts & mortgage finance—3.1% | ||||||||||||
BofI Holding, Inc.* | 17,325 | 697,851 | ||||||||||
LendingTree, Inc.* | 2,350 | 560,240 | ||||||||||
Total common stocks (cost $40,374,894) | 41,095,890 | |||||||||||
Total investment portfolio (cost $40,374,894)—99.9% |
| 41,095,890 | ||||||||||
Other assets in excess of liabilities—0.1% | 51,620 | |||||||||||
Total net assets—100.0% | $41,147,510 |
* Non-income producing security
The accompanying notes are an integral part of the financial statements | 11 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON EAGLE SMALLER COMPANY FUND (cont’d) |
Sector allocation | ||||
Sector | Percent of net assets | |||
Health care | 30.0% | |||
Information technology | 25.7% | |||
Industrials | 15.8% | |||
Consumer discretionary | 13.3% | |||
Financials | 9.5% | |||
Materials | 2.3% | |||
Consumer staples | 1.6% | |||
Real estate | 1.1% | |||
Energy | 0.6% |
COMMON STOCKS—91.1% | Shares | Value | ||||||||||
Japan (cont’d) | ||||||||||||
ORIX Corp. | 1,047,383 | $ 18,369,893 | ||||||||||
Subaru Corp. | 519,258 | 17,429,611 | ||||||||||
Sysmex Corp. | 155,770 | 13,760,303 | ||||||||||
Tokyo Electron Ltd. | 94,176 | 18,086,786 | ||||||||||
Mexico—3.3% | ||||||||||||
Grupo Financiero Banorte S.A.B. de C.V., Class O | 2,845,405 | 17,794,764 | ||||||||||
Wal-Mart de Mexico S.A.B. de C.V., Sponsored ADR | 559,661 | 15,636,928 | ||||||||||
Norway—1.5% | ||||||||||||
DNB ASA | 832,641 | 15,571,511 | ||||||||||
Singapore—1.8% | ||||||||||||
Singapore Telecommunications Ltd. | 6,858,987 | 18,142,678 | ||||||||||
South Africa—1.0% | ||||||||||||
MTN Group Ltd. | 982,990 | 9,876,427 | ||||||||||
Spain—1.4% | ||||||||||||
Banco Bilbao Vizcaya Argentaria S.A. | 1,819,625 | 14,724,491 | ||||||||||
Sweden—3.2% | ||||||||||||
Essity AB, Class B | 597,901 | 15,165,862 | ||||||||||
Sandvik AB | 1,022,161 | 17,428,282 | ||||||||||
Switzerland—9.3% | ||||||||||||
ABB Ltd. | 560,705 | 13,073,161 | ||||||||||
Adecco Group AG | 225,765 | 14,951,332 | ||||||||||
Coca-Cola HBC AG* | 420,410 | 14,084,174 | ||||||||||
Givaudan S.A. | 6,429 | 14,311,272 | ||||||||||
Nestle S.A., Sponsored ADR | 166,673 | 12,893,823 | ||||||||||
Novartis AG, Sponsored ADR | 140,056 | 10,740,895 | ||||||||||
Roche Holding AG | 68,865 | 15,300,940 | ||||||||||
Taiwan—2.9% | ||||||||||||
Largan Precision Co. Ltd. | 130,500 | 15,178,227 | ||||||||||
MediaTek, Inc. | 1,268,930 | 14,432,309 | ||||||||||
United Kingdom—12.3% | ||||||||||||
British American Tobacco PLC | 252,050 | 13,824,404 | ||||||||||
Compass Group PLC | 718,148 | 15,406,373 | ||||||||||
Diageo PLC, Sponsored ADR | 111,544 | 15,834,786 | ||||||||||
Next PLC | 235,412 | 17,005,397 | ||||||||||
Prudential PLC, Sponsored ADR | 382,746 | 19,642,525 | ||||||||||
Reckitt Benckiser Group PLC | 176,167 | 13,820,051 | ||||||||||
Royal Dutch Shell PLC, Class B, Sponsored ADR | 232,609 | 16,845,544 | ||||||||||
WPP PLC | 816,509 | 14,011,490 | ||||||||||
United States—5.1% | ||||||||||||
Aflac, Inc. | 412,168 | 18,782,496 | ||||||||||
Credicorp Ltd. | 84,938 | 19,747,236 | ||||||||||
Mettler-Toledo International, Inc.* | 25,094 | 14,050,883 | ||||||||||
Total common stocks (cost $599,893,417) | 933,792,831 | |||||||||||
PREFERRED STOCKS—5.5% | ||||||||||||
Colombia—1.9% | ||||||||||||
Bancolombia S.A., Sponsored ADR | 407,049 | 19,399,955 | ||||||||||
Germany—3.6% | ||||||||||||
Henkel AG & Co. KGaA, Sponsored ADR | 119,341 | 15,149,147 | ||||||||||
Volkswagen AG | 104,441 | 21,539,348 | ||||||||||
Total preferred stocks (cost $35,126,474) | 56,088,450 | |||||||||||
Total investments portfolio (cost $635,019,891)—96.6% |
| 989,881,281 | ||||||||||
Other assets in excess of liabilities—3.4% | 34,982,963 | |||||||||||
Total net assets—100.0% | $1,024,864,244 |
12 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON SCOUT INTERNATIONAL FUND (cont’d) |
* Non-income producing security
ADR—American depository receipt
Sector allocation | ||||
Sector | Percent of net assets | |||
Financials | 22.0% | |||
Consumer staples | 13.9% | |||
Industrials | 12.1% | |||
Consumer discretionary | 11.8% | |||
Health care | 11.3% | |||
Information technology | 8.1% | |||
Materials | 7.5% | |||
Energy | 7.2% | |||
Telecommunication services | 2.7% |
Industry allocation | ||||||||
Industry | Value | Percent of net assets | ||||||
Banks | $104,020,299 | 10.1% | ||||||
Insurance | 87,000,067 | 8.5% | ||||||
Oil, gas & consumable fuels | 74,028,442 | 7.2% | ||||||
Chemicals | 62,201,792 | 6.1% | ||||||
Pharmaceuticals | 57,944,789 | 5.7% | ||||||
Machinery | 49,660,834 | 4.8% | ||||||
Household products | 44,135,060 | 4.3% | ||||||
Automobiles | 38,968,959 | 3.8% | ||||||
Semiconductors & semiconductor equipment | 32,519,095 | 3.2% | ||||||
Beverages | 29,918,960 | 2.9% | ||||||
Electronic equipment, instruments & components | 26,803,439 | 2.6% | ||||||
Food products | 25,463,363 | 2.5% | ||||||
Software | 23,828,439 | 2.3% | ||||||
Diversified financial services | 18,369,893 | 1.8% | ||||||
Diversified telecommunication services | 18,142,678 | 1.8% | ||||||
Textiles, apparel & luxury goods | 18,113,414 | 1.8% | ||||||
Auto components | 17,257,942 | 1.7% | ||||||
Multiline retail | 17,005,397 | 1.7% | ||||||
Airlines | 16,830,469 | 1.6% | ||||||
Biotechnology | 16,382,923 | 1.6% | ||||||
Capital markets | 15,737,978 | 1.5% | ||||||
Food & staples retailing | 15,636,928 | 1.5% | ||||||
Hotels, restaurants & leisure | 15,406,373 | 1.5% | ||||||
Professional services | 14,951,332 | 1.5% | ||||||
Industrial conglomerates | 14,691,635 | 1.4% |
Industry allocation (cont’d) | ||||||||
Industry | Value | Percent of net assets | ||||||
Metals & mining | $14,480,859 | 1.4% | ||||||
Construction & engineering | 14,338,694 | 1.4% | ||||||
Life sciences tools & services | 14,050,883 | 1.4% | ||||||
Media | 14,011,490 | 1.4% | ||||||
Health care providers & services | 13,939,644 | 1.4% | ||||||
Tobacco | 13,824,404 | 1.3% | ||||||
Health care equipment & supplies | 13,760,303 | 1.3% | ||||||
Personal products | 13,504,916 | 1.3% | ||||||
Electrical equipment | 13,073,161 | 1.3% | ||||||
Wireless telecommunication services | 9,876,427 | 1.0% |
The accompanying notes are an integral part of the financial statements | 13 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON SCOUT MID CAP FUND (cont’d) | ||||||||||||
COMMON STOCKS—97.1% | Shares | Value | ||||||||||
Capital markets (cont’d) | ||||||||||||
Evercore, Inc., Class A | 140,875 | $ 14,263,594 | ||||||||||
MarketAxess Holdings, Inc. | 41,575 | 8,258,042 | ||||||||||
S&P Global, Inc. | 75,150 | 14,173,290 | ||||||||||
T. Rowe Price Group, Inc. | 83,946 | 9,554,733 | ||||||||||
Chemicals—3.4% | ||||||||||||
Albemarle Corp. | 108,125 | 10,483,800 | ||||||||||
Celanese Corp., Class A | 122,675 | 13,331,092 | ||||||||||
CF Industries Holdings, Inc. | 405,220 | 15,722,536 | ||||||||||
Huntsman Corp. | 391,325 | 11,649,745 | ||||||||||
The Chemours Co. | 193,125 | 9,349,181 | ||||||||||
Westlake Chemical Corp. | 95,350 | 10,199,590 | ||||||||||
Communications equipment—2.4% | ||||||||||||
Arista Networks, Inc.* | 138,050 | 36,521,127 | ||||||||||
Palo Alto Networks, Inc.* | 76,325 | 14,693,326 | ||||||||||
Construction & engineering—0.4% | ||||||||||||
Dycom Industries, Inc.* | 75,950 | 7,888,167 | ||||||||||
Construction materials—0.9% | ||||||||||||
Martin Marietta Materials, Inc. | 54,623 | 10,638,922 | ||||||||||
Vulcan Materials Co. | 82,750 | 9,242,347 | ||||||||||
Diversified consumer services—0.7% | ||||||||||||
H&R Block, Inc. | 500,050 | 13,826,383 | ||||||||||
Diversified financial services—2.2% | ||||||||||||
Voya Financial, Inc. | 871,250 | 45,609,938 | ||||||||||
Electric utilities—1.1% | ||||||||||||
PG&E Corp. | 126,950 | 5,852,395 | ||||||||||
Xcel Energy, Inc. | 364,650 | 17,080,206 | ||||||||||
Electrical equipment—0.1% | ||||||||||||
Rockwell Automation, Inc. | 18,900 | 3,109,617 | ||||||||||
Electronic equipment, instruments & components—1.6% | ||||||||||||
Coherent, Inc.* | 14,875 | 2,502,273 | ||||||||||
IPG Photonics Corp.* | 16,200 | 3,451,086 | ||||||||||
Keysight Technologies, Inc.* | 532,625 | 27,526,060 | ||||||||||
Energy equipment & services—1.5% | ||||||||||||
Patterson-UTI Energy, Inc. | 388,725 | 8,326,490 | ||||||||||
RPC, Inc. | 568,900 | 10,245,889 | ||||||||||
TechnipFMC PLC | 420,925 | 13,873,688 | ||||||||||
Equity real estate investment trusts (REITs)—5.5% | ||||||||||||
Cousins Properties, Inc. | 2,630,015 | 23,380,833 | ||||||||||
EPR Properties | 265,774 | 14,622,886 | ||||||||||
Host Hotels & Resorts, Inc. | 1,946,659 | 38,076,650 | ||||||||||
Lamar Advertising Co., Class A | 241,298 | 15,373,096 | ||||||||||
Omega Healthcare Investors, Inc. | 400,048 | 10,393,247 | ||||||||||
OUTFRONT Media, Inc. | 745,656 | 13,981,050 | ||||||||||
Food & staples retailing—0.5% | ||||||||||||
Casey’s General Stores, Inc. | 115,700 | 11,176,620 | ||||||||||
Food products—1.2% | ||||||||||||
Conagra Brands, Inc. | 149,875 | 5,555,866 | ||||||||||
Hormel Foods Corp. | 277,575 | 10,062,094 | ||||||||||
Tyson Foods, Inc., Class A | 133,300 | 9,344,330 | ||||||||||
Gas utilities—2.9% | ||||||||||||
Atmos Energy Corp. | 503,124 | 43,716,445 | ||||||||||
ONE Gas, Inc. | 256,106 | 17,855,710 |
COMMON STOCKS—97.1% | Shares | Value | ||||||||||
Health care equipment & supplies—4.9% | ||||||||||||
ABIOMED, Inc.* | 226,150 | $ 68,059,842 | ||||||||||
Align Technology, Inc.* | 33,800 | 8,444,930 | ||||||||||
Edwards Lifesciences Corp.* | 90,450 | 11,519,712 | ||||||||||
NuVasive, Inc.* | 98,275 | 5,229,213 | ||||||||||
Teleflex, Inc. | 40,050 | 10,728,594 | ||||||||||
Health care providers & services—0.9% | ||||||||||||
Humana, Inc. | 33,379 | 9,819,434 | ||||||||||
Molina Healthcare, Inc.* | 121,472 | 10,112,544 | ||||||||||
Health care technology—0.7% | ||||||||||||
Veeva Systems, Inc., Class A* | 201,100 | 14,103,143 | ||||||||||
Hotels, restaurants & leisure—4.8% | ||||||||||||
Chipotle Mexican Grill, Inc.* | 11,850 | 5,016,460 | ||||||||||
Cracker Barrel Old Country Store, Inc. | 65,250 | 10,739,498 | ||||||||||
Darden Restaurants, Inc. | 236,450 | 21,956,747 | ||||||||||
Hilton Grand Vacations, Inc.* | 322,575 | 13,870,725 | ||||||||||
Royal Caribbean Cruises Ltd. | 177,875 | 19,244,296 | ||||||||||
Six Flags Entertainment Corp. | 164,750 | 10,418,790 | ||||||||||
Texas Roadhouse, Inc. | 172,819 | 11,074,242 | ||||||||||
Vail Resorts, Inc. | 38,900 | 8,920,159 | ||||||||||
Household durables—0.3% | ||||||||||||
Garmin Ltd. | 93,925 | 5,510,580 | ||||||||||
Household products—0.3% | ||||||||||||
The Clorox Co. | 59,700 | 6,996,840 | ||||||||||
Insurance—4.8% | ||||||||||||
Arch Capital Group Ltd.* | 94,325 | 7,558,262 | ||||||||||
Everest Re Group Ltd. | 154,325 | 35,906,798 | ||||||||||
Lincoln National Corp. | 120,775 | 8,531,546 | ||||||||||
The Hanover Insurance Group, Inc. | 184,600 | 21,201,310 | ||||||||||
White Mountains Insurance Group Ltd. | 17,175 | 14,861,356 | ||||||||||
W.R. Berkley Corp. | 173,250 | 12,917,520 | ||||||||||
Internet & direct marketing retail—0.5% | ||||||||||||
Expedia Group, Inc. | 82,650 | 9,516,321 | ||||||||||
Internet software & services—1.2% | ||||||||||||
eBay, Inc.* | 113,175 | 4,287,069 | ||||||||||
IAC/InterActiveCorp* | 65,325 | 10,591,796 | ||||||||||
Match Group, Inc.* | 218,750 | 10,307,500 | ||||||||||
IT services—6.3% | ||||||||||||
DXC Technology Co. | 809,500 | 83,427,070 | ||||||||||
Fiserv, Inc.* | 124,450 | 8,818,527 | ||||||||||
Jack Henry & Associates, Inc. | 97,400 | 11,637,352 | ||||||||||
Paychex, Inc. | 240,100 | 14,542,857 | ||||||||||
Science Applications International Corp. | 167,658 | 14,383,380 | ||||||||||
Leisure products—0.4% | ||||||||||||
Polaris Industries, Inc. | 82,125 | 8,608,343 | ||||||||||
Life sciences tools & services—0.9% | ||||||||||||
Illumina, Inc.* | 75,600 | 18,214,308 | ||||||||||
Machinery—1.9% | ||||||||||||
AGCO Corp. | 164,575 | 10,315,561 | ||||||||||
Allison Transmission Holdings, Inc. | 170,175 | 6,635,123 | ||||||||||
The Timken Co. | 221,675 | 9,476,606 | ||||||||||
Xylem Inc. | 193,050 | 14,073,345 | ||||||||||
Media—0.4% | ||||||||||||
Live Nation Entertainment, Inc.* | 215,575 | 8,508,745 |
14 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON SCOUT MID CAP FUND (cont’d) | ||||||||||||
COMMON STOCKS—97.1% | Shares | Value | ||||||||||
Metals & mining—1.8% | ||||||||||||
Newmont Mining Corp. | 531,725 | $ 20,891,475 | ||||||||||
Steel Dynamics, Inc. | 402,900 | 18,053,949 | ||||||||||
Multiline retail—0.1% | ||||||||||||
Big Lots, Inc. | 61,000 | 2,589,450 | ||||||||||
Multi-utilities—1.0% | ||||||||||||
CMS Energy Corp. | 466,900 | 22,033,011 | ||||||||||
Oil, gas & consumable fuels—5.0% | ||||||||||||
Andeavor | 220,075 | 30,440,774 | ||||||||||
Devon Energy Corp. | 317,975 | 11,552,032 | ||||||||||
Marathon Petroleum Corp. | 223,050 | 16,708,675 | ||||||||||
Newfield Exploration Co.* | 1,025,367 | 30,555,937 | ||||||||||
Parsley Energy, Inc., Class A* | 510,575 | 15,332,567 | ||||||||||
Pharmaceuticals—0.5% | ||||||||||||
Nektar Therapeutics* | 123,950 | 10,369,657 | ||||||||||
Professional services—0.5% | ||||||||||||
Robert Half International, Inc. | 169,100 | 10,272,825 | ||||||||||
Road & rail—1.3% | ||||||||||||
AMERCO | 19,400 | 6,547,888 | ||||||||||
Norfolk Southern Corp. | 90,100 | 12,926,647 | ||||||||||
Old Dominion Freight Line, Inc. | 63,475 | 8,496,763 | ||||||||||
Semiconductors & semiconductor equipment—1.7% | ||||||||||||
Analog Devices, Inc. | 75,750 | 6,616,762 | ||||||||||
KLA-Tencor Corp. | 87,725 | 8,925,142 | ||||||||||
ON Semiconductor Corp.* | 381,750 | 8,429,040 | ||||||||||
Skyworks Solutions, Inc. | 82,003 | 7,114,580 | ||||||||||
Xilinx, Inc. | 79,200 | 5,087,808 | ||||||||||
Software—4.0% | ||||||||||||
Aspen Technology, Inc.* | 151,825 | 13,322,644 | ||||||||||
Ellie Mae, Inc.* | 33,275 | 3,223,349 | ||||||||||
Proofpoint, Inc.* | 89,575 | 10,564,475 | ||||||||||
Red Hat, Inc.* | 76,325 | 12,445,555 | ||||||||||
ServiceNow, Inc.* | 71,675 | 11,908,085 | ||||||||||
Splunk, Inc.* | 141,425 | 14,517,276 | ||||||||||
Take-Two Interactive Software, Inc.* | 87,775 | 8,752,045 | ||||||||||
Workday, Inc., Class A* | 69,925 | 8,729,437 | ||||||||||
Specialty retail—2.9% | ||||||||||||
American Eagle Outfitters, Inc. | 679,400 | 14,049,992 | ||||||||||
Best Buy Co., Inc. | 198,525 | 15,193,118 | ||||||||||
O’Reilly Automotive, Inc.* | 40,975 | 10,492,468 | ||||||||||
Ross Stores, Inc. | 209,725 | 16,956,266 | ||||||||||
Ulta Beauty, Inc.* | 20,725 | 5,200,110 | ||||||||||
Technology hardware, storage & peripherals—0.1% | ||||||||||||
Western Digital Corp. | 31,425 | 2,475,976 | ||||||||||
Textiles, apparel & luxury goods—0.6% | ||||||||||||
PVH Corp. | 52,975 | 8,458,518 | ||||||||||
Skechers U.S.A., Inc., Class A* | 175,700 | 5,007,450 | ||||||||||
Thrifts & mortgage finance—0.6% | ||||||||||||
LendingTree, Inc.* | 52,250 | 12,456,400 | ||||||||||
Trading companies & distributors—1.3% | ||||||||||||
United Rentals, Inc.* | 111,800 | 16,770,000 | ||||||||||
W.W. Grainger, Inc. | 38,884 | 10,940,013 | ||||||||||
Water utilities—0.5% | ||||||||||||
American Water Works Co., Inc. | 127,375 | 11,028,127 |
COMMON STOCKS—97.1% | Shares | Value | ||||||||||
Wireless telecommunication services—1.0% | ||||||||||||
Sprint Corp.* | 3,755,324 | $ 21,067,368 | ||||||||||
Total common stocks (cost $1,715,587,272) | 2,048,379,130 | |||||||||||
Total investment portfolio (cost $1,715,587,272)—97.1% |
| 2,048,379,130 | ||||||||||
Assets in excess of liabilities—2.9% | 60,433,184 | |||||||||||
Total net assets—100.0% | $2,108,812,314 |
* Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Financials | 17.3% | |||
Information technology | 17.3% | |||
Industrials | 13.6% | |||
Consumer discretionary | 12.4% | |||
Health care | 9.2% | |||
Energy | 6.5% | |||
Materials | 6.2% | |||
Utilities | 5.6% | |||
Real estate | 5.5% | |||
Consumer staples | 2.5% | |||
Telecommunication services | 1.0% |
The accompanying notes are an integral part of the financial statements | 15 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON SCOUT SMALL CAP FUND (cont’d) | ||||||||||||
COMMON STOCKS—99.4% | Shares | Value | ||||||||||
Consumer finance—1.8% | ||||||||||||
Green Dot Corp., Class A* | 36,125 | $ 2,196,761 | ||||||||||
PRA Group, Inc.* | 73,460 | 2,615,176 | ||||||||||
Electronic equipment, instruments & components—5.7% | ||||||||||||
ePlus, Inc.* | 72,100 | 5,757,185 | ||||||||||
Fabrinet* | 65,350 | 1,843,523 | ||||||||||
II-VI, Inc.* | 146,700 | 5,589,270 | ||||||||||
nLight, Inc.* | 8,200 | 204,426 | ||||||||||
Plexus Corp.* | 27,900 | 1,530,036 | ||||||||||
Energy equipment & services—0.2% | ||||||||||||
Geospace Technologies Corp.* | 59,760 | 629,870 | ||||||||||
Equity real estate investment trusts (REITs)—1.1% | ||||||||||||
CareTrust REIT, Inc. | 112,900 | 1,491,409 | ||||||||||
QTS Realty Trust, Inc., Class A | 38,400 | 1,358,976 | ||||||||||
Food & staples retailing—1.6% | ||||||||||||
Performance Food Group Co.* | 126,675 | 4,110,604 | ||||||||||
Health care equipment & supplies—5.1% | ||||||||||||
Cutera, Inc.* | 55,990 | 2,807,898 | ||||||||||
ICU Medical, Inc.* | 31,645 | 7,965,047 | ||||||||||
Varex Imaging Corp.* | 71,900 | 2,587,681 | ||||||||||
Health care providers & services—11.7% | ||||||||||||
AMN Healthcare Services, Inc.* | 90,225 | 6,031,541 | ||||||||||
BioTelemetry, Inc.* | 129,325 | 4,940,215 | ||||||||||
HealthEquity, Inc.* | 75,150 | 4,935,100 | ||||||||||
LHC Group, Inc.* | 49,825 | 3,707,976 | ||||||||||
Molina Healthcare, Inc.* | 53,975 | 4,493,419 | ||||||||||
U.S. Physical Therapy, Inc. | 70,450 | 6,428,563 | ||||||||||
Health care technology—3.2% | ||||||||||||
HMS Holdings Corp.* | 133,425 | 2,402,984 | ||||||||||
Omnicell, Inc.* | 137,600 | 5,930,560 | ||||||||||
Hotels, restaurants & leisure—4.0% | ||||||||||||
Cracker Barrel Old Country Store, Inc. | 34,275 | 5,641,322 | ||||||||||
Lindblad Expeditions Holdings, Inc.* | 161,200 | 1,765,140 | ||||||||||
The Cheesecake Factory, Inc. | 57,025 | 2,962,449 | ||||||||||
Household durables—3.8% | ||||||||||||
Installed Building Products, Inc.* | 65,800 | 3,796,660 | ||||||||||
iRobot Corp.* | 46,825 | 2,732,707 | ||||||||||
LGI Homes, Inc.* | 48,925 | 3,385,610 | ||||||||||
Insurance—1.2% | ||||||||||||
CNO Financial Group, Inc. | 144,125 | 3,090,040 | ||||||||||
Internet software & services—6.5% | ||||||||||||
Carbonite, Inc.* | 157,050 | 4,884,255 | ||||||||||
Envestnet, Inc.* | 78,825 | 4,280,197 | ||||||||||
j2 Global, Inc. | 67,025 | 5,320,445 | ||||||||||
The Trade Desk, Inc., Class A* | 47,700 | 2,440,809 | ||||||||||
IT services—2.4% | ||||||||||||
Acxiom Corp.* | 41,800 | 1,085,964 | ||||||||||
Jack Henry & Associates, Inc. | 21,600 | 2,580,768 | ||||||||||
Virtusa Corp.* | 56,525 | 2,721,113 | ||||||||||
Life sciences tools & services—5.2% | ||||||||||||
Bruker Corp. | 154,000 | 4,547,620 | ||||||||||
Cambrex Corp.* | 73,450 | 3,889,177 | ||||||||||
PRA Health Sciences, Inc.* | 63,475 | 5,215,741 |
COMMON STOCKS—99.4% | Shares | Value | ||||||||||
Machinery—4.5% | ||||||||||||
Albany International Corp., Class A | 53,875 | $ 3,186,706 | ||||||||||
Chart Industries, Inc.* | 42,975 | 2,438,402 | ||||||||||
Proto Labs, Inc.* | 52,300 | 6,231,545 | ||||||||||
Metals & mining—0.6% | ||||||||||||
Carpenter Technology Corp. | 30,700 | 1,635,082 | ||||||||||
Oil, gas & consumable fuels—0.3% | ||||||||||||
Gulfport Energy Corp.* | 90,700 | 843,510 | ||||||||||
Pharmaceuticals—3.2% | ||||||||||||
Impax Laboratories, Inc.* | 87,125 | 1,637,950 | ||||||||||
Supernus Pharmaceuticals, Inc.* | 144,175 | 6,761,808 | ||||||||||
Professional services—3.0% | ||||||||||||
Insperity, Inc. | 66,050 | 5,300,513 | ||||||||||
WageWorks, Inc.* | 60,300 | 2,511,495 | ||||||||||
Semiconductors & semiconductor equipment—7.1% | ||||||||||||
Ambarella, Inc.* | 59,800 | 2,786,082 | ||||||||||
Entegris, Inc. | 96,650 | 3,112,130 | ||||||||||
Impinj, Inc.* | 73,400 | 902,086 | ||||||||||
Inphi Corp.* | 57,925 | 1,655,496 | ||||||||||
Power Integrations, Inc. | 47,625 | 3,228,975 | ||||||||||
Semtech Corp.* | 132,000 | 5,187,600 | ||||||||||
Veeco Instruments, Inc.* | 115,150 | 1,779,068 | ||||||||||
Software—3.2% | ||||||||||||
Pegasystems, Inc. | 86,850 | 5,302,193 | ||||||||||
The Descartes Systems Group, Inc.* | 106,350 | 3,142,642 | ||||||||||
Specialty retail—2.6% | ||||||||||||
Camping World Holdings, Inc., Class A | 67,400 | 1,929,662 | ||||||||||
Monro, Inc. | 87,625 | 4,902,619 | ||||||||||
Technology hardware, storage & peripherals—0.8% | ||||||||||||
Electronics For Imaging, Inc.* | 77,725 | 2,152,982 | ||||||||||
Textiles, apparel & luxury goods—1.0% | ||||||||||||
G-III Apparel Group Ltd.* | 68,100 | 2,484,969 | ||||||||||
Thrifts & mortgage finance—3.2% | ||||||||||||
BofI Holding, Inc.* | 106,150 | 4,275,722 | ||||||||||
LendingTree, Inc.* | 17,400 | 4,148,160 | ||||||||||
Total common stocks (cost $166,698,872) | 260,251,487 | |||||||||||
Total investment portfolio (cost $166,698,872)—99.4% |
| 260,251,487 | ||||||||||
Other assets in excess of liabilities—0.6% | 1,643,235 | |||||||||||
Total net assets—100.0% | $261,894,722 |
* Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Health care | 29.1% | |||
Information technology | 25.8% | |||
Industrials | 15.8% | |||
Consumer discretionary | 13.3% | |||
Financials | 9.9% |
16 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON SCOUT SMALL CAP FUND (cont’d) |
Sector allocation (cont’d) | ||||
Sector | Percent of net assets | |||
Materials | 2.2% | |||
Consumer staples | 1.6% | |||
Real estate | 1.1% | |||
Energy | 0.6% |
CORPORATE BONDS—27.8% | Principal Amount | Value | ||||||||||
Diversified telecommunication services (cont’d) | ||||||||||||
AT&T, Inc., (cont’d) | ||||||||||||
3.80%, 03/01/24 | $ 280,000 | $ 278,017 | ||||||||||
4.25%, 03/01/27 | 245,000 | 243,092 | ||||||||||
Food products—0.1% | ||||||||||||
Campbell Soup Co., (3 Month LIBOR USD + 0.63%), 2.78%, 03/15/21 | 90,000 | 90,476 | ||||||||||
Health care equipment & supplies—0.3% | ||||||||||||
Abbott Laboratories, 2.35%, 11/22/19 | 419,000 | 415,332 | ||||||||||
Health care providers & services—0.4% | ||||||||||||
CVS Health Corp., 3.70%, 03/09/23 | 460,000 | 458,232 | ||||||||||
Hotels, restaurants & leisure—0.3% | ||||||||||||
McDonald’s Corp., 2.10%, 12/07/18 | 405,000 | 404,821 | ||||||||||
Insurance—4.6% | ||||||||||||
American International Group, Inc., 6.40%, 12/15/20 | 535,000 | 576,208 | ||||||||||
Jackson National Life Global Funding, (3 Month LIBOR USD + 0.30%), 144A, 2.67%, 04/27/20 (a) | 2,080,000 | 2,078,586 | ||||||||||
MassMutual Global Funding II, 144A, 1.95%, 09/22/20 (a) | 1,075,000 | 1,047,182 | ||||||||||
Metropolitan Life Global Funding I, (3 Month LIBOR USD + 0.23%), 144A, 2.56%, 01/08/21 (a) | 1,275,000 | 1,275,354 | ||||||||||
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20 (a) | 385,000 | 380,493 | ||||||||||
Oil & Gas—0.5% | ||||||||||||
ConocoPhillips Co., 3.35%, 05/15/25 | 595,000 | 581,653 | ||||||||||
Tobacco—0.7% | ||||||||||||
Philip Morris International, Inc., 2.00%, 02/21/20 | 850,000 | 835,514 | ||||||||||
Transportation—1.7% | ||||||||||||
Burlington Northern and Santa Fe Railway Co., Pass Through Trust, | ||||||||||||
Series 2001-2, 6.46%, 01/15/21 | 121,147 | 126,144 | ||||||||||
Series 2004-1, 4.58%, 01/15/21 | 246,473 | 250,473 | ||||||||||
CSX Transportation, Inc., 6.25%, 01/15/23 | 246,803 | 268,053 | ||||||||||
Union Pacific Railroad Co., Pass Through Trust, | ||||||||||||
Series 2004, 5.40%, 07/02/25 | 291,454 | 301,683 | ||||||||||
Series 2005, 5.08%, 01/02/29 | 561,887 | 593,045 | ||||||||||
Series 2006, 5.87%, 07/02/30 | 457,993 | 500,762 | ||||||||||
Total corporate bonds (cost $32,777,363) | 32,756,102 | |||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—28.6% |
| |||||||||||
Asset-backed securities—1.0% | ||||||||||||
Hertz Vehicle Financing II LP, Series 2015-2A, Class A, 144A, 2.02%, 09/25/19 (a) | 1,155,000 | 1,151,581 | ||||||||||
Commercial mortgage-backed securities—3.1% | ||||||||||||
CFCRE Commercial Mortgage Trust, Series 2016-C3, Class A3, 3.87%, 01/10/48 | 800,000 | 806,820 | ||||||||||
COMM Mortgage Trust, Series 2013-CCRE9, Class ASB, 3.83%, 07/12/45 | 630,000 | 641,972 | ||||||||||
GS Mortgage Securities Trust, | ||||||||||||
Series 2012-GCJ7, Class A4, 3.38%, 05/12/45 | 901,199 | 906,577 | ||||||||||
Series 2013-GC14, Class AAB, 3.82%, 08/10/46 | 355,000 | 360,877 | ||||||||||
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class A3, 3.21%, 10/19/48 | 955,000 | 934,338 | ||||||||||
Federal agency mortgage-backed obligations—24.5% | ||||||||||||
Fannie Mae Pool, | ||||||||||||
Series 1313, Class MA, 2.00%, 01/01/23 | 333,277 | 327,409 |
The accompanying notes are an integral part of the financial statements | 17 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON REAMS CORE BOND FUND (cont’d) | ||||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—28.6% | Principal Amount | Value | ||||||||||
Federal agency mortgage-backed obligations (cont’d) | ||||||||||||
Fannie Mae Pool, (cont’d) | ||||||||||||
Series 1671, Class AM, 2.10%, 12/01/27 | $ 1,012,303 | $ 948,144 | ||||||||||
Series 2182, Class AM, 2.16%, 01/01/23 | 1,296,982 | 1,242,100 | ||||||||||
Series 2822, Class AB, 2.50%, 03/01/26 | 264,219 | 259,867 | ||||||||||
Series 4328, Class AA, 4.00%, 04/01/24 | 173,755 | 178,238 | ||||||||||
Series 6090, Class AB, 2.50%, 09/01/22 | 345,919 | 341,582 | ||||||||||
Series 8539, Class AL, 4.50%, 01/01/27 | 35,032 | 35,284 | ||||||||||
Series 8744, Class AB, 2.00%, 03/01/23 | 141,520 | 139,017 | ||||||||||
Series 8874, Class AB, 2.00%, 04/01/23 | 137,404 | 134,973 | ||||||||||
Series 9180, Class AB, 2.00%, 05/01/23 | 408,084 | 400,863 | ||||||||||
Series 9550, Class AL, 2.50%, 07/01/25 | 415,533 | 410,750 | ||||||||||
Series 465468, 3.33%, 07/01/20 | 336,523 | 338,515 | ||||||||||
Series 468763, 3.17%, 08/01/18 | 1,360,084 | 1,357,670 | ||||||||||
TBA, 3.00%, 06/15/48 | 5,895,000 | 5,674,566 | ||||||||||
TBA, 3.50%, 06/15/48 | 5,990,000 | 5,934,897 | ||||||||||
Fannie Mae-Aces, | ||||||||||||
Series 2013-M14, Class A, 1.70%, 08/25/18 | 758,100 | 755,552 | ||||||||||
Series 2014-M13, Class AB2, VR, 2.95%, 08/25/24 | 308,271 | 299,635 | ||||||||||
Series 2015-M11, Class A1, 2.10%, 04/25/25 | 296,228 | 293,506 | ||||||||||
Series 2016-M2, Class ABV2, 2.13%, 01/25/23 | 714,682 | 686,571 | ||||||||||
Series 2016-M3, Class ASQ2, 2.26%, 02/25/23 | 1,080,000 | 1,044,698 | ||||||||||
Series 2016-M6, Class AB2, 2.40%, 05/25/26 | 1,005,000 | 940,223 | ||||||||||
Series 2016-M7, Class AV2, 2.16%, 10/25/23 | 2,495,000 | 2,383,670 | ||||||||||
Freddie Mac Gold Pool, | ||||||||||||
Series 14074, Class G, 4.50%, 08/01/18 | 30,962 | 31,184 | ||||||||||
Series 14075, Class G, 4.50%, 08/01/18 | 55,465 | 55,863 | ||||||||||
Series 14660, Class G, 2.00%, 01/01/28 | 1,119,438 | 1,073,595 | ||||||||||
Series 15226, Class G, 4.50%, 08/01/20 | 409,876 | 412,817 | ||||||||||
Freddie Mac REMIC, | ||||||||||||
Series 3609, Class LA, 4.00%, 12/15/24 | 28,865 | 28,999 | ||||||||||
Series 4233, Class MD, 1.75%, 03/15/25 | 102,611 | 102,173 | ||||||||||
Series K-F17, Class A, (1 Month LIBOR USD + 0.55%), 2.43%, 03/25/23 | 1,050,158 | 1,052,784 | ||||||||||
Ginnie Mae I Pool, | ||||||||||||
Series 0091, Class AD, 2.73%, 06/15/32 | 1,393,340 | 1,305,981 | ||||||||||
Series 2583, Class AB, 2.14%, 08/15/23 | 651,350 | 623,148 | ||||||||||
Total mortgage and asset-backed securities (cost $34,161,236) |
| 33,616,439 | ||||||||||
U.S. TREASURIES—52.3% | ||||||||||||
U.S. Treasury Bonds, | ||||||||||||
2.75%, 08/15/47 | 11,255,000 | 10,463,193 | ||||||||||
2.75%, 11/15/47 | 1,770,000 | 1,645,063 | ||||||||||
U.S. Treasury Notes, | ||||||||||||
1.25%, 10/31/21 | 13,725,000 | 13,066,093 | ||||||||||
1.38%, 09/30/20 | 5,760,000 | 5,599,125 | ||||||||||
1.63%, 10/31/23 | 11,510,000 | 10,805,912 | ||||||||||
2.25%, 11/15/27 | 13,685,000 | 12,890,094 | ||||||||||
2.50%, 01/31/25 | 7,195,000 | 7,016,811 | ||||||||||
Total U.S. Treasuries (cost $62,770,651) | 61,486,291 |
SHORT-TERM INVESTMENTS—1.0% | Principal Amount | Value | ||||||||||
Auto manufacturers—1.0% | ||||||||||||
Ford Motor Credit Co. LLC, Commercial paper, 144A (a) | $ 1,185,000 | $ 1,150,345 | ||||||||||
Total short-term investments (cost $1,149,846) | 1,150,345 | |||||||||||
Total investment portfolio (cost $130,859,096)—109.7% |
| 129,009,177 | ||||||||||
Liabilities in excess of other assets—(9.7)% | (11,366,278 | ) | ||||||||||
Total net assets—100.0% | $117,642,899 |
(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At April 30, 2018, these securities aggregated $10,099,790 or 8.6% of the net assets of the Fund.
144A—Securities are purchased under Rule 144A of the Securities Act of 1933 or are private placements and, unless registered under the Securities Act of 1933 or exempted from registration, generally may only be sold to qualified institutional buyers.
TBA—To-be-announced security. Securities are being used in dollar roll transactions.
VR—Variable rate security. Interest rate adjusts periodically based on changes in current interest rates. Rate shown is the rate in effect at period end.
REMIC—Real estate mortgage investment conduit
Credit quality breakdown* | ||||
Rating | Percent of net assets | |||
AAA/Aaa | 80.9% | |||
AA/Aa | 7.5% | |||
A/A | 14.3% | |||
BBB/Baa | 7.0% | |||
BB/Ba | 0.0% | |||
Not rated | 0.0% |
* The table depicts the long-term credit-quality ratings assigned to the Fund’s portfolio holdings by Standard & Poor’s® (“S&P”), Moody’s Investors Service (“Moody’s”), and Fitch Ratings Inc. (“Fitch”), each of which is a widely used independent nationally recognized statistical rating organization (“NRSRO”). NRSRO ratings are shown because they provide an independent analysis of the credit quality of the Fund’s investments. These credit quality ratings are shown without regard to gradations within a given rating category. For example, securities rated “A-” have been included in the “A” rated category. Securities may be rated by other NRSROs and these ratings may be higher or lower. When ratings from multiple agencies are available, the highest is used, consistent with the Fund’s portfolio investment process. Credit quality ratings are subject to change without notice. For more information on S&P’s rating methodology, please visit standardandpoors.com and select “Understanding Ratings” under Rating Resources on the homepage. For more information on Moody’s rating methodology, please visit moodys.com and select “Rating Methodologies” under Research & Ratings on the homepage. For more information on Fitch’s rating methodology, please visit fitchratings.com and select “Ratings Definitions” at the bottom of the homepage. Carillon Tower Advisers, Inc. (“Manager”) also performs its own fundamental credit analysis of each security. As part of its fundamental credit analysis, the Manager considers various criteria, including industry specific actions, peer comparisons, payment ranking, and structure-specific characteristics. Any securities that are not rated by S&P, Moody’s, or Fitch appear in the table as “Not rated.” However, these securities are analyzed and monitored by the Manager on an ongoing basis. Government securities that are issued or guaranteed as to principal and interest by the U.S. government are not rated, but are treated by the Fund, and reflected in the table above, as being rated AAA and Aaa for credit quality purposes.
18 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CORPORATE BONDS—25.5% | Principal Amount | Value | ||||||||||
Health care equipment & supplies—0.3% | ||||||||||||
Abbott Laboratories, 2.35%, 11/22/19 | $ 1,826,000 | $ 1,810,012 | ||||||||||
Health care providers & services—0.4% | ||||||||||||
CVS Health Corp., 3.70%, 03/09/23 | 2,750,000 | 2,739,431 | ||||||||||
Hotels, restaurants & leisure—0.3% | ||||||||||||
McDonald’s Corp., 2.10%, 12/07/18 | 2,090,000 | 2,089,078 | ||||||||||
Insurance—5.6% | ||||||||||||
American International Group, Inc., 6.40%, 12/15/20 | 3,175,000 | 3,419,555 | ||||||||||
Jackson National Life Global Funding, (3 Month LIBOR USD + 0.30%), 144A, 2.67%, 04/27/20 (a) | 12,265,000 | 12,256,660 | ||||||||||
MassMutual Global Funding II, 144A, 1.95%, 09/22/20 (a) | 5,920,000 | 5,766,809 | ||||||||||
Metropolitan Life Global Funding I, 144A, 1.35%, 09/14/18 (a) | 7,520,000 | 7,491,833 | ||||||||||
(3 Month LIBOR USD + 0.23%), 144A, 2.56%, 01/08/21 (a) | 7,515,000 | 7,517,086 | ||||||||||
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20 (a) | 2,050,000 | 2,026,002 | ||||||||||
Oil, gas & consumable fuels—0.3% | ||||||||||||
Energy Transfer Partners LP, 4.05%, 03/15/25 | 2,205,000 | 2,130,685 | ||||||||||
Tobacco—0.9% | ||||||||||||
Philip Morris International, Inc., 2.00%, 02/21/20 | 6,130,000 | 6,025,531 | ||||||||||
Transportation—0.1% | ||||||||||||
Burlington Northern and Santa Fe Railway Co., Pass Through Trust, | ||||||||||||
Series 2001-2, 6.46%, 01/15/21 | 377,527 | 393,100 | ||||||||||
Series 2005-4, 4.97%, 04/01/23 | 355,680 | 366,696 | ||||||||||
Total corporate bonds (cost $174,297,397) | 174,382,230 | |||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—25.7% |
| |||||||||||
Asset-backed securities—0.8% | ||||||||||||
Hertz Vehicle Financing II LP, 144A, Series 2015-2A, Class A, 2.02%, 09/25/19 (a) | 4,165,000 | 4,152,670 | ||||||||||
Home Equity Loan Trust, | ||||||||||||
Series 2003-HS3, Class A2A, (1 Month LIBOR USD + 0.28%), 2.18%, 08/25/33 | 11,172 | 11,149 | ||||||||||
Series 2006-HSA2, Class AI3, VR, 5.55%, 11/25/27 | 377,896 | 205,034 | ||||||||||
RFMSII Trust, Series 2006-HSA1, Class A4, SB, 5.99%, 02/25/36 | 856,900 | 830,807 | ||||||||||
Commercial mortgage-backed securities—3.0% | ||||||||||||
CFCRE Commercial Mortgage Trust, Series 2016-C3, Class A3, 3.87%, 01/10/48 | 5,600,000 | 5,647,740 | ||||||||||
COMM Mortgage Trust, Series 2013-CCRE9, Class ASB, 3.83%, 07/12/45 | 4,000,000 | 4,076,012 | ||||||||||
GS Mortgage Securities Trust, | ||||||||||||
Series 2012-GCJ7, Class A4, 3.38%, 05/12/45 | 4,785,844 | 4,814,403 | ||||||||||
Series 2013-GC14, Class AAB, 3.82%, 08/10/46 | 2,235,000 | 2,272,000 | ||||||||||
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class A3, 3.21%, 10/19/48 | 4,075,000 | 3,986,837 | ||||||||||
Federal agency mortgage-backed obligations—21.9% | ||||||||||||
Fannie Mae Pool, | ||||||||||||
Series 1313, Class MA, 2.00%, 01/01/23 | 1,451,130 | 1,425,578 | ||||||||||
Series 1500, Class MA, 2.00%, 07/01/23 | 1,253,039 | 1,230,378 | ||||||||||
Series 1671, Class AM, 2.10%, 12/01/27 | 1,961,337 | 1,837,029 | ||||||||||
Series 2182, Class AM, 2.16%, 01/01/23 | 6,645,361 | 6,364,163 | ||||||||||
Series 2822, Class AB, 2.50%, 03/01/26 | 550,994 | 541,918 | ||||||||||
Series 4328, Class AA, 4.00%, 04/01/24 | 519,197 | 532,594 |
The accompanying notes are an integral part of the financial statements | 19 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON REAMS CORE PLUS BOND FUND (cont’d) | ||||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—25.7% | Principal Amount | Value | ||||||||||
Federal agency mortgage-backed obligations (cont’d) | ||||||||||||
Fannie Mae Pool, (cont’d) | ||||||||||||
Series 6090, Class AB, 2.50%, 09/01/22 | $ 1,650,804 | $ 1,630,106 | ||||||||||
Series 8539, Class AL, 4.50%, 01/01/27 | 154,502 | 155,613 | ||||||||||
Series 8744, Class AB, 2.00%, 03/01/23 | 621,676 | 610,681 | ||||||||||
Series 8874, Class AB, 2.00%, 04/01/23 | 603,312 | 592,642 | ||||||||||
Series 9180, Class AB, 2.00%, 05/01/23 | 1,907,073 | 1,873,331 | ||||||||||
Series 9550, Class AL, 2.50%, 07/01/25 | 1,964,642 | 1,942,024 | ||||||||||
Series 465468, 3.33%, 07/01/20 | 717,114 | 721,359 | ||||||||||
Series 466284, 3.33%, 10/01/20 | 3,275,563 | 3,304,436 | ||||||||||
Series 466319, 3.23%, 11/01/20 | 3,181,111 | 3,202,290 | ||||||||||
Series 468763, 3.17%, 08/01/18 | 5,023,894 | 5,014,976 | ||||||||||
TBA, 3.00%, 06/15/48 | 34,950,000 | 33,643,099 | ||||||||||
TBA, 3.50%, 06/15/48 | 31,800,000 | 31,507,465 | ||||||||||
Fannie Mae-Aces, | ||||||||||||
Series 2013-M14, Class A, 1.70%, 08/25/18 | 1,722,954 | 1,717,165 | ||||||||||
Series 2014-M13, Class AB2, VR, 2.95%, 08/25/24 | 1,524,229 | 1,481,529 | ||||||||||
Series 2015-M11, Class A1, 2.10%, 04/25/25 | 968,056 | 959,161 | ||||||||||
Series 2016-M2, Class ABV2, 2.13%, 01/25/23 | 2,797,344 | 2,687,313 | ||||||||||
Series 2016-M3, Class ASQ2, 2.26%, 02/25/23 | 4,145,000 | 4,009,511 | ||||||||||
Series 2016-M6, Class AB2, 2.40%, 05/25/26 | 4,655,000 | 4,354,964 | ||||||||||
Series 2016-M7, Class AV2, 2.16%, 10/25/23 | 9,610,000 | 9,181,188 | ||||||||||
Freddie Mac Gold Pool, | ||||||||||||
Series 14074, Class G, 4.50%, 08/01/18 | 135,891 | 136,866 | ||||||||||
Series 14075, Class G, 4.50%, 08/01/18 | 243,339 | 245,086 | ||||||||||
Series 14660, Class G, 2.00%, 01/01/28 | 5,987,522 | 5,742,321 | ||||||||||
Series 15226, Class G, 4.50%, 08/01/20 | 1,806,463 | 1,819,426 | ||||||||||
Freddie Mac REMIC, | ||||||||||||
Series 3609, Class LA, 4.00%, 12/15/24 | 136,392 | 137,022 | ||||||||||
Series 4233, Class MD, 1.75%, 03/15/25 | 303,182 | 301,888 | ||||||||||
Series K-F15, Class A, (1 Month LIBOR USD + 0.67%), 2.55%, 02/25/23 | 7,680,874 | 7,710,901 | ||||||||||
Series K-F17, Class A, (1 Month LIBOR USD + 0.55%), 2.43%, 03/25/23 | 3,929,343 | 3,939,165 | ||||||||||
Ginnie Mae I Pool, | ||||||||||||
Series 0091, Class AD, 2.73%, 06/15/32 | 7,657,416 | 7,177,314 | ||||||||||
Series 2583, Class AB, 2.14%, 08/15/23 | 1,686,157 | 1,613,150 | ||||||||||
Total mortgage and asset-backed securities (cost $177,326,046) | 175,340,304 | |||||||||||
U.S. TREASURIES—57.3% | ||||||||||||
U.S. Treasury Bonds, | ||||||||||||
2.75%, 08/15/47 | 64,315,000 | 59,790,339 | ||||||||||
2.75%, 11/15/47 | 9,010,000 | 8,374,021 | ||||||||||
U.S. Treasury Notes, | ||||||||||||
1.25%, 10/31/21 | 90,540,000 | 86,193,373 | ||||||||||
1.38%, 09/30/20 | 17,120,000 | 16,641,844 | ||||||||||
1.63%, 10/31/23 | 96,860,000 | 90,934,892 | ||||||||||
2.50%, 01/31/25 | 41,095,000 | 40,077,257 | ||||||||||
2.25%, 11/15/27 | 94,295,000 | 88,817,786 | ||||||||||
Total U.S. Treasuries (cost $400,521,954) | 390,829,512 | |||||||||||
SHORT-TERM INVESTMENTS—1.0% | ||||||||||||
Auto manufacturers—1.0% | ||||||||||||
Ford Motor Credit Co. LLC, Commercial paper, 144A (a) | 6,995,000 | 6,790,435 | ||||||||||
Total short-term investments (cost $6,787,493) | 6,790,435 | |||||||||||
Total investment portfolio (cost $758,932,890)—109.5% |
| 747,342,481 | ||||||||||
Liabilities in excess of other assets—(9.5)% | (64,721,461 | ) | ||||||||||
Total net assets—100.0% | $682,621,020 |
(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At April 30, 2018, these securities aggregated $65,738,470 or 9.6% of the net assets of the Fund.
144A—Securities are purchased under Rule 144A of the Securities Act of 1933 or are private placements and, unless registered under the Securities Act of 1933 or exempted from registration, generally may only be sold to qualified institutional buyers.
TBA—To-be-announced security. Securities are being used in dollar roll transactions.
VR—Variable rate security. Interest rate adjusts periodically based on changes in current interest rates. Rate shown is the rate in effect at period end.
REMIC—Real estate mortgage investment conduit
SB—Step bond. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown is the rate in effect as of April 30, 2018.
Credit quality breakdown* | ||||
Rating | Percent of net assets | |||
AAA/Aaa | 82.8% | |||
AA/Aa | 6.7% | |||
A/A | 12.9% | |||
BBB/Baa | 6.6% | |||
BB/Ba | 0.4% | |||
Ca/CC | 0.0% | |||
C/C | 0.1% | |||
Not rated | 0.0% |
* The table depicts the long-term credit-quality ratings assigned to the Fund’s portfolio holdings by Standard & Poor’s® (“S&P”), Moody’s Investors Service (“Moody’s”), and Fitch Ratings Inc. (“Fitch”), each of which is a widely used independent nationally recognized statistical rating organization (“NRSRO”). NRSRO ratings are shown because they provide an independent analysis of the credit quality of the Fund’s investments. These credit quality ratings are shown without regard to gradations within a given rating category. For example, securities rated “A-” have been included in the “A” rated category. Securities may be rated by other NRSROs and these ratings may be higher or lower. When ratings from multiple agencies are available, the highest is used, consistent with the Fund’s portfolio investment process. Credit quality ratings are subject to change without notice. For more information on S&P’s rating methodology, please visit standardandpoors.com and select “Understanding Ratings” under Rating Resources on the homepage. For more information on Moody’s rating methodology, please visit moodys.com and select “Rating Methodologies” under Research & Ratings on the homepage. For more information on Fitch’s rating methodology, please visit fitchratings.com and select “Ratings Definitions” at the bottom of the homepage. Carillon Tower Advisers, Inc. (“Manager”) also performs its own fundamental credit analysis of each security. As part of its fundamental credit analysis, the Manager considers various criteria, including industry specific actions, peer comparisons, payment ranking, and structure-specific characteristics. Any securities that are not rated by S&P, Moody’s, or Fitch appear in the table as “Not rated.” However, these securities are analyzed and monitored by the Manager on an ongoing basis. Government securities that are issued or guaranteed as to principal and interest by the U.S. government are not rated, but are treated by the Fund, and reflected in the table above, as being rated AAA and Aaa for credit quality purposes.
20 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON REAMS CORE PLUS BOND FUND (cont’d) | ||||||||||||||||||||
FUTURES CONTRACTS—LONG | ||||||||||||||||||||
Description | Expiration Date | Number of Contracts | Notional Value at Trade Date | Notional Value at April 30, 2018 | Unrealized Appreciation (Depreciation) | |||||||||||||||
10-Year U.S. Treasury Note | June 2018 | 1,095 | $132,177,032 | $130,989,375 | $ | (1,187,657 | ) | |||||||||||||
FUTURES CONTRACTS—SHORT | ||||||||||||||||||||
Description | Expiration Date | Number of Contracts | Notional Value at Trade Date | Notional Value at April 30, 2018 | Unrealized Appreciation (Depreciation) | |||||||||||||||
Euro-Bond Futures^ | June 2018 | (855 | ) | $ | (162,391,036 | ) | $ | (163,898,489 | ) | $ | (1,507,453 | ) | ||||||||
Total futures contracts | $(2,695,110) |
^ Euro-Bond futures contracts are denominated in Euro. Notional Value at Trade Date, Notional Value at April 30, 2018 and Unrealized Appreciation (Depreciation) have been translated into U.S. Dollars as of April 30, 2018.
There is $56,224 of variation margin due from the broker to the Fund as of April 30, 2018.
SWAP CONTRACTS—CREDIT DEFAULT SWAPS | ||||||||||||||||||||||||||||||||
Exchange | Reference Entity | Buy/Sell(b) Protection | Pay/Receive Fixed Rate | Fixed Rate | Expiration Date | Notional Value(c) | Value(d) | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
Intercontinental Exchange | CDX North America High Yield Index Series 30 | Sell | Receive | 5%/Quarterly | 6/20/2023 | $10,590,000 | $780,188 | $644,372 | $135,816 | |||||||||||||||||||||||
Total swap contracts | $10,590,000 | $780,188 | $644,372 | $135,816 |
There is $2,293 of variation margin due from the Fund to the broker as of April 30, 2018.
(b) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation of underlying securities comprising the referenced index.
(c) The maximum potential amount the Fund could be required to make as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(d) The prices and resulting values for credit default swap agreements on credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
The accompanying notes are an integral part of the financial statements | 21 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CORPORATE BONDS—26.4% | Principal Amount | Value | ||||||||||
Food products—0.1% | ||||||||||||
Campbell Soup Co., (3 Month LIBOR USD + 0.63%), 2.78%, 03/15/21 | $ 1,280,000 | $ 1,286,771 | ||||||||||
Health care equipment & supplies—1.0% | ||||||||||||
Abbott Laboratories, 2.35%, 11/22/19 | 4,455,000 | 4,415,995 | ||||||||||
Becton Dickinson and Co., | ||||||||||||
2.13%, 06/06/19 | 4,855,000 | 4,804,023 | ||||||||||
2.40%, 06/05/20 | 6,700,000 | 6,567,004 | ||||||||||
Health care providers & services—0.4% | ||||||||||||
CVS Health Corp., 3.70%, 03/09/23 | 6,340,000 | 6,315,634 | ||||||||||
Insurance—5.0% | ||||||||||||
Jackson National Life Global Funding, (3 Month LIBOR USD + 0.30%), 144A, 2.67%, 04/27/20 (a) | 29,145,000 | 29,125,181 | ||||||||||
MassMutual Global Funding II, 144A, 1.95%, 09/22/20 (a) | 12,055,000 | 11,743,055 | ||||||||||
Metropolitan Life Global Funding I, (3 Month LIBOR USD + 0.23%), 144A, 2.56%, 01/08/21 (a) | 17,830,000 | 17,834,948 | ||||||||||
New York Life Global Funding, (3 Month LIBOR USD + 0.12%), 144A, 2.46%, 04/12/19 (a) | 14,175,000 | 14,186,021 | ||||||||||
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20 (a) | 4,550,000 | 4,496,737 | ||||||||||
Machinery—construction & mining—1.2% | ||||||||||||
Caterpillar Financial Services Corp., (3 Month LIBOR USD + 0.18%), 2.21%, 12/06/18 | 17,925,000 | 17,939,384 | ||||||||||
Oil, gas & consumable fuels—0.4% | ||||||||||||
Energy Transfer Partners LP, 4.05%, 03/15/25 | 6,392,000 | 6,176,570 | ||||||||||
Tobacco—0.6% | ||||||||||||
Philip Morris International, Inc., 2.00%, 02/21/20 | 8,800,000 | 8,650,028 | ||||||||||
Total corporate bonds (cost $405,537,372) | 405,637,940 | |||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—5.4% |
| |||||||||||
Asset-backed securities—2.1% | ||||||||||||
Bank of The West Auto Trust, | ||||||||||||
Series 2015-1, Class A3, 144A, 1.31%, 10/15/19 (a) | 65,531 | 65,500 | ||||||||||
Series 2017-1, Class A2, 144A, 1.78%, 02/15/21 (a) | 14,815,000 | 14,732,310 | ||||||||||
Countrywide Asset-Backed Certificates, Series 2006-S10, Class A3, (1 Month LIBOR USD + 0.32%), 2.22%, 10/25/36 | 1,518,927 | 1,436,466 | ||||||||||
Hertz Vehicle Financing II LP, Series 2015-2A, Class A, 144A, 2.02%, 09/25/19 (a) | 9,455,000 | 9,427,009 | ||||||||||
Home Equity Loan Trust, | ||||||||||||
Series 2003-HS3, Class A2A, (1 Month LIBOR USD + 0.28%), 2.18%, 08/25/33 | 711 | 710 | ||||||||||
Series 2006-HSA2, Class AI3, VR, 5.55%, 11/25/27 | 3,819,682 | 2,072,438 | ||||||||||
Hyundai Auto Receivables Trust, Series 2016-B, Class A2, 1.12%, 10/15/19 | 4,770,684 | 4,757,830 | ||||||||||
Commercial mortgage-backed securities—0.3% | ||||||||||||
GS Mortgage Securities Trust, Series 2013-GC14, Class AAB, 3.82%, 08/10/46 | 4,750,000 | 4,828,636 | ||||||||||
Federal agency mortgage-backed obligations—3.0% | ||||||||||||
Fannie Mae-Aces, Series 2013-M9, Class ASQ2, 1.82%, 06/25/18 | 1,867,929 | 1,863,870 | ||||||||||
Fannie Mae Pool, TBA, 3.00%, 06/15/48 | 24,575,000 | 23,656,056 |
22 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON REAMS UNCONSTRAINED BOND FUND (cont’d) | ||||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—5.4% | Principal Amount | Value | ||||||||||
Federal agency mortgage-backed obligations (cont’d) |
| |||||||||||
Freddie Mac REMICS, | ||||||||||||
Series K-F15, Class A, (1 Month LIBOR USD + 0.67%), 2.55%, 02/25/23 | $ 14,772,087 | $ 14,829,835 | ||||||||||
Series K-F17, Class A, (1 Month LIBOR USD + 0.55%), 2.43%, 03/25/23 | 5,207,035 | 5,220,052 | ||||||||||
Total mortgage and asset-backed securities (cost $83,271,676) |
| 82,890,712 | ||||||||||
U.S. TREASURIES—68.1% | ||||||||||||
U.S.Treasury Inflation Indexed Bonds, | ||||||||||||
0.50%, 01/15/28 | 15,540,175 | 15,138,354 | ||||||||||
1.00%, 02/15/48 | 15,544,485 | 15,852,897 | ||||||||||
U.S. Treasury Bonds, 2.75%, 11/15/47 | 6,070,000 | 5,641,543 | ||||||||||
U.S. Treasury Notes, | ||||||||||||
1.25%, 10/31/21 | 268,505,000 | 255,614,663 | ||||||||||
1.88%, 02/28/22 | 31,265,000 | 30,303,845 | ||||||||||
2.00%, 12/31/21 | 157,705,000 | 153,787,016 | ||||||||||
2.25%, 08/15/27 | 53,975,000 | 50,917,823 | ||||||||||
2.25%, 11/15/27 | 313,115,000 | 294,927,421 | ||||||||||
2.75%, 02/28/25 | 86,965,000 | 86,122,527 | ||||||||||
2.75%, 02/15/28 | 140,830,000 | 138,447,993 | ||||||||||
Total U.S. Treasuries (cost $1,069,408,995) | 1,046,754,082 | |||||||||||
SHORT-TERM INVESTMENTS—2.2% | ||||||||||||
Auto manufacturers—2.2% | ||||||||||||
Ford Motor Credit Co. LLC, Commercial paper, 144A (a) | 34,000,000 | 33,005,689 | ||||||||||
Total short-term investments (cost $32,991,390) |
| 33,005,689 | ||||||||||
Total investment portfolio (cost $1,591,209,433)—102.1% |
| 1,568,288,423 | ||||||||||
Liabilities in excess of other assets—(2.1)% | (31,558,168 | ) | ||||||||||
Total net assets—100.0% | $1,536,730,255 |
(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At April 30, 2018, these securities aggregated $199,721,216 or 13.0% of the Fund’s net assets.
144A—Securities are purchased under Rule 144A of the Securities Act of 1933 or are private placements and, unless registered under the Securities Act of 1933 or exempted from registration, generally may only be sold to qualified institutional buyers.
TBA—To-be-announced security. Securities are being used in dollar roll transactions.
VR—Variable rate security. Interest rate adjusts periodically based on changes in current interest rates. Rate shown is the rate in effect at period end.
REMIC—Real estate mortgage investment conduit
Credit quality breakdown* | ||||
Rating | Percent of net assets | |||
AAA/Aaa | 74.2% | |||
AA/Aa | 4.2% | |||
A/A | 14.2% | |||
BBB/Baa | 8.7% | |||
BB/Ba | 0.6% | |||
Ca/CC | 0.1% | |||
C/C | 0.1% | |||
Not rated | 0.0% |
* The table depicts the long-term credit-quality ratings assigned to the Fund’s portfolio holdings by Standard & Poor’s® (“S&P”), Moody’s Investors Service (“Moody’s”), and Fitch Ratings Inc. (“Fitch”), each of which is a widely used independent nationally recognized statistical rating organization (“NRSRO”). NRSRO ratings are shown because they provide an independent analysis of the credit quality of the Fund’s investments. These credit quality ratings are shown without regard to gradations within a given rating category. For example, securities rated “A-” have been included in the “A” rated category. Securities may be rated by other NRSROs and these ratings may be higher or lower. When ratings from multiple agencies are available, the highest is used, consistent with the Fund’s portfolio investment process. Credit quality ratings are subject to change without notice. For more information on S&P’s rating methodology, please visit standardandpoors.com and select “Understanding Ratings” under Rating Resources on the homepage. For more information on Moody’s rating methodology, please visit moodys.com and select “Rating Methodologies” under Research & Ratings on the homepage. For more information on Fitch’s rating methodology, please visit fitchratings.com and select “Ratings Definitions” at the bottom of the homepage. Carillon Tower Advisers, Inc. (“Manager”) also performs its own fundamental credit analysis of each security. As part of its fundamental credit analysis, the Manager considers various criteria, including industry specific actions, peer comparisons, payment ranking, and structure-specific characteristics. Any securities that are not rated by S&P, Moody’s, or Fitch appear in the table as “Not rated.” However, these securities are analyzed and monitored by the Manager on an ongoing basis. Government securities that are issued or guaranteed as to principal and interest by the U.S. government are not rated, but are treated by the Fund, and reflected in the table above, as being rated AAA and Aaa for credit quality purposes.
FUTURES CONTRACTS—SHORT | ||||||||||||||||||||
Description | Expiration Date | Number of Contracts | Notional Value at Trade Date | Notional Value at April 30, 2018 | Unrealized Appreciation (Depreciation) | |||||||||||||||
Euro-Bond Futures ^ | June 2018 | (2,645 | ) | $ | (500,842,438 | ) | $ | (507,030,999 | ) | $ | (6,188,561 | ) | ||||||||
Total futures contracts | $(6,188,561) |
^ Euro-Bond futures contracts are denominated in Euro. Notional Value at Trade Date, Notional Value at April 30, 2018 and Unrealized Appreciation (Depreciation) have been translated into U.S. Dollars as of April 30, 2018.
There is $246,378 of variation margin due from the Fund to the broker as of April 30, 2018.
The accompanying notes are an integral part of the financial statements | 23 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2018 |
CARILLON REAMS UNCONSTRAINED BOND FUND (cont’d) | ||||||||||||||||||||||||||||||||
SWAP CONTRACTS—CREDIT DEFAULT SWAPS | ||||||||||||||||||||||||||||||||
Exchange | Reference Entity | Buy/Sell(b) Protection | Pay/Receive Fixed Rate | Fixed Rate | Expiration Date | Notional Value(c) | Value(d) | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
Intercontinental Exchange | CDX North America High Yield Index Series 30 | Sell | Receive | 5%/Quarterly | 6/20/2023 | $22,450,000 | $1,653,941 | $1,366,020 | $287,921 | |||||||||||||||||||||||
Total swap contracts | $22,450,000 | $1,653,941 | $1,366,020 | $287,921 |
There is $4,860 of variation margin due from the Fund to the broker as of April 30, 2018.
(b) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation of underlying securities comprising the referenced index.
(c) The maximum potential amount the Fund could be required to make as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(d) The prices and resulting values for credit default swap agreements on credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
24 | The accompanying notes are an integral part of the financial statements |
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Table of Contents
Statements of Assets and Liabilities
(UNAUDITED) | 04.30.2018 |
Carillon ClariVest Capital Appreciation Fund | Carillon ClariVest International Stock Fund | Carillon Cougar Tactical Allocation Fund | Carillon Eagle Growth & Income Fund | |||||||||||||
Assets | ||||||||||||||||
Investments, at value (a) | $454,001,242 | $19,825,431 | $16,311,919 | $577,995,863 | ||||||||||||
Cash | 2,178,407 | 764,264 | 158,430 | 7,884,105 | ||||||||||||
Foreign currency, at value (b) | — | 174 | — | — | ||||||||||||
Receivable for investments sold | 875,961 | — | — | — | ||||||||||||
Receivable for fund shares sold | 996,779 | 94,424 | 13,124 | 291,447 | ||||||||||||
Receivable for dividends and interest, net | 198,972 | 150,144 | 364 | 640,609 | ||||||||||||
Receivable due from adviser, net | — | 10,416 | 12,989 | — | ||||||||||||
Prepaid expenses | 29,727 | 33,641 | 40,799 | 9,770 | ||||||||||||
Total assets | 458,281,088 | 20,878,494 | 16,537,625 | 586,821,794 | ||||||||||||
Liabilities | ||||||||||||||||
Payable for investments purchased | 1,121,514 | — | — | — | ||||||||||||
Payable for fund shares redeemed | 786,270 | 34,853 | 625 | 543,296 | ||||||||||||
Payable for interest due on line of credit | — | — | — | — | ||||||||||||
Accrued custody fees | 1,648 | 6,686 | 157 | 2,394 | ||||||||||||
Accrued investment advisory fees, net | 168,968 | — | — | 227,836 | ||||||||||||
Accrued administrative fees | 37,139 | 1,683 | 1,370 | 48,741 | ||||||||||||
Accrued distribution fees | 58,710 | 4,462 | 1,948 | 145,226 | ||||||||||||
Accrued transfer agent and shareholder servicing fees | 17,398 | 3,318 | 3,003 | 56,183 | ||||||||||||
Accrued internal audit fees | 667 | 667 | 667 | 667 | ||||||||||||
Accrued trustees and officers compensation | 15,726 | 15,726 | 15,777 | 15,726 | ||||||||||||
Other accrued expenses | 31,623 | 28,628 | 18,782 | 32,716 | ||||||||||||
Total liabilities | 2,239,663 | 96,023 | 42,329 | 1,072,785 | ||||||||||||
Net assets | 456,041,425 | 20,782,471 | 16,495,296 | 585,749,009 | ||||||||||||
Net assets consists of | ||||||||||||||||
Paid-in capital | 276,012,489 | 18,385,909 | 15,249,857 | 372,215,378 | ||||||||||||
Undistributed (accumulated) net investment income (loss) | 437,989 | 24,578 | 28,726 | 228,663 | ||||||||||||
Accumulated net realized gain (loss) | 9,107,790 | (199,866 | ) | 832,756 | 23,225,125 | |||||||||||
Net unrealized appreciation (depreciation)—investments and currency | 170,483,157 | 2,571,850 | 383,957 | 190,079,843 | ||||||||||||
Net assets | 456,041,425 | 20,782,471 | 16,495,296 | 585,749,009 | ||||||||||||
Net assets, at market value | ||||||||||||||||
Class A | 192,951,409 | 7,352,992 | 1,726,540 | 168,002,984 | ||||||||||||
Class C | 21,989,176 | 3,164,876 | 1,932,881 | 131,430,912 | ||||||||||||
Class I | 193,504,929 | 9,333,692 | 12,767,547 | 243,551,901 | ||||||||||||
Class R-3 | 1,268,076 | 874,154 | 11,358 | 1,994,597 | ||||||||||||
Class R-5 | 2,970,130 | 3,769 | 35,334 | 445,120 | ||||||||||||
Class R-6 | 43,340,257 | 42,668 | 11,524 | 40,313,190 | ||||||||||||
Class Y | 17,448 | 10,320 | 10,112 | 10,305 | ||||||||||||
NAV, offering and redemption price per share (c) | ||||||||||||||||
Class A | $42.53 | $18.93 | $15.86 | $20.47 | ||||||||||||
Maximum offering price (d) | 44.65 | 19.87 | 16.65 | 21.49 | ||||||||||||
Class C | 30.96 | 18.57 | 15.70 | 19.61 | ||||||||||||
Class I | 44.63 | 18.90 | 15.86 | 20.42 | ||||||||||||
Class R-3 | 40.86 | 18.75 | 15.84 | 20.38 | ||||||||||||
Class R-5 | 44.51 | 18.92 | 15.88 | 20.45 | ||||||||||||
Class R-6 | 44.29 | 18.94 | 15.89 | 20.38 | ||||||||||||
Class Y | 44.51 | 18.86 | 15.83 | 20.41 | ||||||||||||
Shares of beneficial interest outstanding | ||||||||||||||||
Class A | 4,536,380 | 388,444 | 108,863 | 8,206,740 | ||||||||||||
Class C | 710,248 | 170,457 | 123,107 | 6,703,342 | ||||||||||||
Class I | 4,336,118 | 493,854 | 804,855 | 11,924,967 | ||||||||||||
Class R-3 | 31,033 | 46,612 | 717 | 97,855 | ||||||||||||
Class R-5 | 66,735 | 199 | 2,226 | 21,767 | ||||||||||||
Class R-6 | 978,554 | 2,252 | 725 | 1,978,145 | ||||||||||||
Class Y | 392 | 547 | 639 | 505 | ||||||||||||
(a) Identified cost | $283,518,085 | $17,252,210 | $15,927,962 | $387,913,490 | ||||||||||||
(b) Cost | — | 175 | — | — |
(c) NAV amounts may not recalculate due to rounding of net assets and / or shares outstanding.
(d) For all funds except Carillon Reams Core Bond Fund, Carillon Reams Core Plus Bond Fund and Carillon Reams Unconstrained Bond Fund (“the bond funds”), the maximum offering price is computed as 100/95.25 of NAV. The maximum offering price for the bond funds is computed as 100/96.25 of NAV.
26 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Statements of Assets and Liabilities
(UNAUDITED) | 04.30.2018 |
Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Mid Cap Stock Fund | Carillon Eagle Small Cap Growth Fund | Carillon Eagle Smaller Company Fund | Carillon Scout International Fund | Carillon Scout Mid Cap Fund | |||||||||||||||||
$3,190,512,311 | $233,529,964 | $5,043,402,516 | $41,095,890 | $989,881,281 | $2,048,379,130 | |||||||||||||||||
13,778,567 | 785,276 | 116,061,229 | 74,083 | 29,380,462 | 60,133,474 | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
76,087,827 | 26,138,329 | 33,579,329 | 134,134 | — | 24,209,951 | |||||||||||||||||
10,618,520 | 13,168 | 5,106,668 | 7,064 | 232,726 | 6,458,468 | |||||||||||||||||
341,069 | 48,146 | 863,580 | 7,843 | 7,120,496 | 912,662 | |||||||||||||||||
— | — | — | 4,144 | — | — | |||||||||||||||||
66,591 | 17,512 | 54,996 | 1,683 | 26,061 | 57,794 | |||||||||||||||||
3,291,404,885 | 260,532,395 | 5,199,068,318 | 41,324,841 | 1,026,641,026 | 2,140,151,479 | |||||||||||||||||
24,574,905 | 18,990,164 | 19,323,113 | 102,368 | — | 28,316,869 | |||||||||||||||||
4,421,348 | 168,631 | 6,113,327 | 22,758 | 716,945 | 1,363,526 | |||||||||||||||||
— | 196 | — | 2 | — | — | |||||||||||||||||
4,873 | 1,469 | 19,886 | 853 | 25,130 | 6,938 | |||||||||||||||||
1,402,007 | 116,735 | 2,162,303 | — | 678,276 | 1,283,991 | |||||||||||||||||
268,074 | 20,404 | 428,133 | 3,440 | 85,159 | 171,685 | |||||||||||||||||
224,961 | 55,043 | 275,342 | 16,371 | 55 | 1,551 | |||||||||||||||||
57,083 | 35,705 | 529,136 | 8,810 | 169,103 | 109,320 | |||||||||||||||||
667 | 753 | 667 | 270 | 713 | 713 | |||||||||||||||||
15,726 | 14,399 | 15,727 | 13,139 | 16,637 | 13,074 | |||||||||||||||||
48,334 | 10,976 | 128,237 | 9,320 | 84,764 | 71,498 | |||||||||||||||||
31,017,978 | 19,414,475 | 28,995,871 | 177,331 | 1,776,782 | 31,339,165 | |||||||||||||||||
3,260,386,907 | 241,117,920 | 5,170,072,447 | 41,147,510 | 1,024,864,244 | 2,108,812,314 | |||||||||||||||||
2,460,646,851 | 157,025,822 | 3,290,405,540 | 25,457,738 | 660,020,293 | 1,729,386,088 | |||||||||||||||||
(7,243,449 | ) | (2,031,026 | ) | (15,220,002 | ) | (103,935 | ) | 4,981,953 | 1,600,300 | |||||||||||||
70,845,708 | 17,332,835 | 371,883,015 | 15,072,711 | 5,077,031 | 45,034,068 | |||||||||||||||||
736,137,797 | 68,790,289 | 1,523,003,894 | 720,996 | 354,784,967 | 332,791,858 | |||||||||||||||||
3,260,386,907 | 241,117,920 | 5,170,072,447 | 41,147,510 | 1,024,864,244 | 2,108,812,314 | |||||||||||||||||
537,063,260 | 156,529,027 | 634,392,940 | 14,000,183 | 53,798 | 1,361,189 | |||||||||||||||||
121,725,270 | 26,085,299 | 126,482,256 | 15,957,770 | 47,857 | 1,821,807 | |||||||||||||||||
934,377,655 | 56,358,757 | 1,614,508,446 | 7,460,472 | 1,024,721,732 | 2,103,918,897 | |||||||||||||||||
33,993,776 | 1,171,157 | 91,206,838 | 533,171 | 10,149 | 166,575 | |||||||||||||||||
507,744,346 | 275,516 | 446,623,687 | 52,275 | 10,173 | 19,105 | |||||||||||||||||
1,125,462,507 | 685,828 | 2,256,847,933 | 3,133,311 | 10,178 | 1,356,370 | |||||||||||||||||
20,093 | 12,336 | 10,347 | 10,328 | 10,357 | 168,371 | |||||||||||||||||
$57.92 | $27.98 | $60.33 | $14.10 | $21.45 | $18.92 | |||||||||||||||||
60.81 | 29.38 | 63.34 | 14.80 | 22.52 | 19.86 | |||||||||||||||||
46.43 | 20.26 | 44.68 | 12.08 | 21.40 | 18.87 | |||||||||||||||||
61.05 | 29.69 | 63.44 | 15.32 | 21.48 | 18.94 | |||||||||||||||||
56.22 | 26.75 | 58.37 | 13.50 | 21.43 | 18.89 | |||||||||||||||||
60.90 | 29.87 | 63.71 | 15.11 | 21.47 | 18.92 | |||||||||||||||||
61.42 | 30.03 | 64.25 | 15.21 | 21.48 | 18.93 | |||||||||||||||||
60.94 | 29.65 | 63.30 | 15.29 | 21.45 | 18.92 | |||||||||||||||||
9,271,703 | 5,594,793 | 10,515,499 | 992,993 | 2,508 | 71,940 | |||||||||||||||||
2,621,473 | 1,287,290 | 2,831,084 | 1,320,512 | 2,236 | 96,534 | |||||||||||||||||
15,304,927 | 1,898,213 | 25,450,527 | 487,119 | 47,704,159 | 111,093,587 | |||||||||||||||||
604,634 | 43,777 | 1,562,531 | 39,495 | 474 | 8,817 | |||||||||||||||||
8,338,026 | 9,222 | 7,009,917 | 3,461 | 474 | 1,010 | |||||||||||||||||
18,324,916 | 22,841 | 35,128,764 | 206,050 | 474 | 71,633 | |||||||||||||||||
330 | 416 | 163 | 675 | 483 | 8,901 | |||||||||||||||||
$2,454,374,514 | $164,739,675 | $3,520,398,622 | $40,374,894 | $635,019,891 | $1,715,587,272 | |||||||||||||||||
— | — | — | — | — | — |
The accompanying notes are an integral part of the financial statements. | 27 |
Table of Contents
Statements of Assets and Liabilities
(UNAUDITED) | 04.30.2018 |
Carillon Scout Small Cap Fund | Carillon Reams Core Bond Fund | Carillon Reams Core Plus Bond Fund | Carillon Reams Unconstrained Bond Fund | |||||||||||||
Assets | ||||||||||||||||
Investments, at value (a) | $260,251,487 | $129,009,177 | $747,342,481 | $1,568,288,423 | ||||||||||||
Premiums paid—open swap contracts | — | — | 644,372 | 1,366,020 | ||||||||||||
Net unrealized appreciation—open swap contracts | — | — | 135,816 | 287,921 | ||||||||||||
Cash | 1,849,149 | 638,956 | 1,210,733 | 3,065,890 | ||||||||||||
Cash deposit at broker—open futures contracts | — | — | 6,241,640 | 13,844,592 | ||||||||||||
Cash segregated at custodian—open TBA positions | — | — | 288,187 | — | ||||||||||||
Variation margin receivable—open futures contracts | — | — | 56,224 | — | ||||||||||||
Receivable for investments sold | 677,374 | 11,591,038 | 65,048,367 | 28,767,922 | ||||||||||||
Receivable for fund shares sold | 111,027 | 223,677 | 201,745 | 1,290,609 | ||||||||||||
Receivable for dividends and interest, net | 48,633 | 511,366 | 2,945,012 | 7,748,616 | ||||||||||||
Receivable due from adviser, net | — | 49,061 | — | — | ||||||||||||
Prepaid expenses | 22,000 | 28,808 | 39,503 | 25,047 | ||||||||||||
Total assets | 262,959,670 | 142,052,083 | 824,154,080 | 1,624,685,040 | ||||||||||||
Liabilities | ||||||||||||||||
Net unrealized depreciation—open futures contracts | — | — | 2,695,110 | 6,188,561 | ||||||||||||
Cash collateral received from broker—open swap contracts | — | — | 244,117 | 517,509 | ||||||||||||
Variation margin payable—open swap contracts | — | — | 2,293 | 4,860 | ||||||||||||
Variation margin payable—open futures contracts | — | — | — | 246,378 | ||||||||||||
Payable for investments purchased | 655,462 | 24,328,157 | 136,805,691 | 74,412,869 | ||||||||||||
Payable for fund shares redeemed | 192,051 | 7,348 | 1,555,457 | 5,860,357 | ||||||||||||
Accrued custody fees | 3,494 | 892 | 4,977 | 7,841 | ||||||||||||
Accrued investment advisory fees, net | 123,476 | — | 64,468 | 366,664 | ||||||||||||
Accrued administrative fees | 21,721 | 9,707 | 56,907 | 127,805 | ||||||||||||
Accrued distribution fees | 93 | 721 | 4,932 | 11,622 | ||||||||||||
Accrued transfer agent and shareholder servicing fees | 33,135 | 12,878 | 14,224 | 115,107 | ||||||||||||
Accrued internal audit fees | 713 | 713 | 713 | 713 | ||||||||||||
Accrued trustees and officers compensation | 13,073 | 13,074 | 13,073 | 15,925 | ||||||||||||
Other accrued expenses | 21,730 | 35,694 | 71,098 | 78,574 | ||||||||||||
Total liabilities | 1,064,948 | 24,409,184 | 141,533,060 | 87,954,785 | ||||||||||||
Net assets | 261,894,722 | 117,642,899 | 682,621,020 | 1,536,730,255 | ||||||||||||
Net assets consists of | ||||||||||||||||
Paid-in capital | 150,826,124 | 122,256,800 | 710,633,490 | 1,596,434,733 | ||||||||||||
Undistributed (accumulated) net investment income (loss) | (437,184 | ) | 178,256 | 910,324 | 2,453,200 | |||||||||||
Accumulated net realized gain (loss) | 17,953,167 | (2,942,238 | ) | (14,773,091 | ) | (33,336,099 | ) | |||||||||
Net unrealized appreciation (depreciation)—investments and currency | 93,552,615 | (1,849,919 | ) | (11,590,409 | ) | (22,920,939 | ) | |||||||||
Net unrealized appreciation (depreciation)—open swap contracts | — | — | 135,816 | 287,921 | ||||||||||||
Net unrealized appreciation (depreciation)—open futures contracts | — | — | (2,695,110 | ) | (6,188,561 | ) | ||||||||||
Net assets | 261,894,722 | 117,642,899 | 682,621,020 | 1,536,730,255 | ||||||||||||
Net assets, at market value | ||||||||||||||||
Class A | 93,460 | 441,320 | 216,944 | 108,273 | ||||||||||||
Class C | 80,018 | 234,618 | 169,723 | 21,156 | ||||||||||||
Class I | 261,669,262 | 114,831,027 | 659,208,588 | 1,480,419,610 | ||||||||||||
Class R-3 | 10,328 | 9,817 | 9,801 | 9,878 | ||||||||||||
Class R-5 | 10,353 | 9,840 | 9,824 | 9,902 | ||||||||||||
Class R-6 | 10,358 | 9,845 | 9,829 | 9,906 | ||||||||||||
Class Y | 20,943 | 2,106,432 | 22,996,311 | 56,151,530 | ||||||||||||
NAV, offering and redemption price per share (b) | ||||||||||||||||
Class A | $27.91 | $11.14 | $30.95 | $11.63 | ||||||||||||
Maximum offering price (c) | 29.30 | 11.57 | 32.16 | 12.08 | ||||||||||||
Class C | 27.82 | 11.13 | 30.92 | 11.63 | ||||||||||||
Class I | 27.95 | 11.15 | 30.97 | 11.63 | ||||||||||||
Class R-3 | 27.88 | 11.15 | 30.95 | 11.63 | ||||||||||||
Class R-5 | 27.95 | 11.15 | 30.96 | 11.63 | ||||||||||||
Class R-6 | 27.96 | 11.15 | 30.97 | 11.63 | ||||||||||||
Class Y | 27.91 | 11.14 | 30.95 | 11.69 | ||||||||||||
Shares of beneficial interest outstanding | ||||||||||||||||
Class A | 3,349 | 39,625 | 7,010 | 9,312 | ||||||||||||
Class C | 2,877 | 21,080 | 5,488 | 1,820 | ||||||||||||
Class I | 9,363,362 | 10,300,664 | 21,285,571 | 127,249,408 | ||||||||||||
Class R-3 | 370 | 881 | 317 | 850 | ||||||||||||
Class R-5 | 370 | 883 | 317 | 851 | ||||||||||||
Class R-6 | 370 | 883 | 317 | 852 | ||||||||||||
Class Y | 750 | 189,043 | 743,134 | 4,804,920 | ||||||||||||
(a) Identified cost | $166,698,872 | $130,859,096 | $758,932,890 | $1,591,209,433 |
(b) NAV amounts may not recalculate due to rounding of net assets and / or shares outstanding.
(c) For all funds except Carillon Reams Core Bond Fund, Carillon Reams Core Plus Bond Fund and Carillon Reams Unconstrained Bond Fund (“the bond funds”), the maximum offering price is computed as 100/95.25 of NAV. The maximum offering price for the bond funds is computed as 100/96.25 of NAV.
28 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
[THIS PAGE INTENTIONALLY LEFT BLANK]
Table of Contents
(UNAUDITED) | 11.01.2017 to 04.30.2018 |
Carillon ClariVest Capital Appreciation Fund | Carillon ClariVest International Stock Fund | Carillon Cougar Tactical Allocation Fund | Carillon Eagle Growth & Income Fund | |||||||||||||
Investment income | ||||||||||||||||
Dividends (a) | $2,553,289 | $237,348 | $164,948 | $8,649,192 | ||||||||||||
Interest | 18,630 | 3,718 | 1,816 | 74,443 | ||||||||||||
Total income | 2,571,919 | 241,066 | 166,764 | 8,723,635 | ||||||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 1,290,248 | 69,941 | 48,078 | 1,418,042 | ||||||||||||
Administrative fees: | ||||||||||||||||
Class A | 90,315 | 2,884 | 851 | 80,345 | ||||||||||||
Class C | 27,952 | 2,511 | 1,006 | 84,278 | ||||||||||||
Class I | 78,341 | 4,383 | 6,625 | 125,754 | ||||||||||||
Class R-3 | 668 | 445 | 6 | 1,223 | ||||||||||||
Class R-5 | 1,414 | 2 | 18 | 221 | ||||||||||||
Class R-6 | 21,656 | 7 | 6 | 20,500 | ||||||||||||
Class Y | 7 | 5 | 5 | 5 | ||||||||||||
Distribution and service fees: | ||||||||||||||||
Class A | 216,239 | 6,950 | 2,036 | 192,309 | ||||||||||||
Class C | 264,895 | 23,895 | 9,612 | 803,509 | ||||||||||||
Class R-3 | 3,195 | 2,130 | 29 | 5,839 | ||||||||||||
Class Y | 16 | 11 | 11 | 12 | ||||||||||||
Transfer agent and shareholder servicing fees: | ||||||||||||||||
Class A | 65,511 | 4,162 | 1,214 | 64,887 | ||||||||||||
Class C | 32,144 | 5,509 | 1,447 | 83,205 | ||||||||||||
Class I | 45,912 | 5,025 | 11,188 | 116,445 | ||||||||||||
Class R-3 | 955 | 1,023 | 25 | 2,269 | ||||||||||||
Class R-5 | 1,598 | 31 | 49 | 209 | ||||||||||||
Class R-6 | 2,090 | 43 | 24 | 1,984 | ||||||||||||
Class Y | 26 | 28 | 28 | 26 | ||||||||||||
Custodian fees | 8,097 | 18,365 | 137 | 8,291 | ||||||||||||
Professional fees | 50,260 | 49,671 | 42,514 | 50,274 | ||||||||||||
State registration fees | 49,326 | 47,392 | 40,354 | 52,634 | ||||||||||||
Trustees and officers compensation | 32,452 | 32,452 | 32,503 | 32,452 | ||||||||||||
Internal audit fees | 3,997 | 3,997 | 3,997 | 3,997 | ||||||||||||
Interest expense on line of credit | 776 | — | 99 | — | ||||||||||||
Other expenses | 46,797 | 20,575 | 5,723 | 56,006 | ||||||||||||
Total expenses before adjustments | 2,334,887 | 301,437 | 207,585 | 3,204,716 | ||||||||||||
Fees and expenses waived | (203,063 | ) | (150,754 | ) | (121,628 | ) | (9 | ) | ||||||||
Recovered fees previously waived by Manager | — | — | — | — | ||||||||||||
Total expenses after adjustments | 2,131,824 | 150,683 | 85,957 | 3,204,707 | ||||||||||||
Net investment income (loss) | 440,095 | 90,383 | 80,807 | 5,518,928 | ||||||||||||
Realized and unrealized gain (loss) | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments | 9,530,919 | 525,240 | 874,981 | 22,370,618 | ||||||||||||
Foreign currency transactions | — | 286 | — | — | ||||||||||||
Net realized gain (loss) | 9,530,919 | 525,526 | 874,981 | 22,370,618 | ||||||||||||
Net change in unrealized appreciation (depreciation) on | ||||||||||||||||
investments and foreign currency translations | 7,980,137 | (197,669 | ) | (723,008 | ) | (4,131,894 | ) | |||||||||
Net gain (loss) on investments | 17,511,056 | 327,857 | 151,973 | 18,238,724 | ||||||||||||
Net increase (decrease) in assets resulting from operations | 17,951,151 | 418,240 | 232,780 | 23,757,652 | ||||||||||||
(a) Net of foreign withholding taxes | $ — | $25,107 | $ — | $72,249 |
30 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Statements of Operations
(UNAUDITED) | 11.01.2017 to 04.30.2018 |
Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Mid Cap Stock Fund | Carillon Eagle Small Cap Growth Fund | Carillon Eagle Smaller Company Fund | Carillon Scout International Fund | Carillon Scout Mid Cap Fund | |||||||||||||||||
$8,869,913 | $1,159,619 | $13,593,645 | $229,792 | $15,352,536 | $12,150,652 | |||||||||||||||||
297,008 | 21,609 | 313,418 | 4,273 | 152,312 | 172,107 | |||||||||||||||||
9,166,921 | 1,181,228 | 13,907,063 | 234,065 | 15,504,848 | 12,322,759 | |||||||||||||||||
7,591,178 | 771,788 | 13,312,683 | 133,050 | 4,287,791 | 7,199,771 | |||||||||||||||||
256,367 | 65,928 | 331,187 | 7,768 | 9 | 245 | |||||||||||||||||
75,926 | 35,364 | 82,802 | 8,964 | 15 | 273 | |||||||||||||||||
432,361 | 30,712 | 828,708 | 4,363 | 511,011 | 911,732 | |||||||||||||||||
17,095 | 637 | 50,197 | 272 | 5 | 16 | |||||||||||||||||
215,438 | 151 | 236,254 | 26 | 5 | 5 | |||||||||||||||||
461,527 | 426 | 1,079,863 | 1,562 | 5 | 28 | |||||||||||||||||
7 | 5 | 5 | 5 | 5 | 32 | |||||||||||||||||
614,088 | 158,177 | 791,150 | 18,511 | 22 | 613 | |||||||||||||||||
725,099 | 334,585 | 789,181 | 85,559 | 153 | 2,726 | |||||||||||||||||
81,875 | 3,039 | 239,727 | 1,298 | 23 | 79 | |||||||||||||||||
16 | 12 | 11 | 11 | 11 | 80 | |||||||||||||||||
288,876 | 60,563 | 584,950 | 15,200 | 24 | 86 | |||||||||||||||||
63,564 | 45,088 | 90,322 | 12,762 | 38 | 88 | |||||||||||||||||
329,968 | 32,185 | 854,348 | 6,940 | 603,368 | 762,111 | |||||||||||||||||
27,546 | 1,129 | 77,930 | 545 | 23 | 23 | |||||||||||||||||
145,130 | 297 | 265,539 | 65 | 23 | 23 | |||||||||||||||||
28,318 | 108 | 77,259 | 534 | 23 | 25 | |||||||||||||||||
26 | 34 | 28 | 34 | 23 | 31 | |||||||||||||||||
31,237 | 3,811 | 68,589 | 2,269 | 105,410 | 33,279 | |||||||||||||||||
75,138 | 54,088 | 51,132 | 57,572 | 31,654 | 28,830 | |||||||||||||||||
57,461 | 42,638 | 55,013 | 40,940 | 22,828 | 38,447 | |||||||||||||||||
32,452 | 31,125 | 32,453 | 29,865 | 32,685 | 29,121 | |||||||||||||||||
3,997 | 4,083 | 3,997 | 3,600 | 3,364 | 3,364 | |||||||||||||||||
— | 196 | 21,341 | 2 | — | — | |||||||||||||||||
255,859 | 39,098 | 528,855 | 13,999 | 161,516 | 186,022 | |||||||||||||||||
11,810,549 | 1,715,267 | 20,453,524 | 445,716 | 5,760,034 | 9,197,050 | |||||||||||||||||
(4 | ) | (361 | ) | (11 | ) | (123,125 | ) | (55 | ) | (9 | ) | |||||||||||
— | 27,953 | — | — | — | — | |||||||||||||||||
11,810,545 | 1,742,859 | 20,453,513 | 322,591 | 5,759,979 | 9,197,041 | |||||||||||||||||
(2,643,624 | ) | (561,631 | ) | (6,546,450 | ) | (88,526 | ) | 9,744,869 | 3,125,718 | |||||||||||||
74,480,147 | 18,127,580 | 389,174,335 | 15,352,227 | 33,632,400 | 62,365,718 | |||||||||||||||||
— | — | — | — | 39,532 | — | |||||||||||||||||
74,480,147 | 18,127,580 | 389,174,335 | 15,352,227 | 33,671,932 | 62,365,718 | |||||||||||||||||
57,542,267 | (11,789,783 | ) | (136,400,260 | ) | (13,517,082 | ) | (28,494,263 | ) | (9,331,496 | ) | ||||||||||||
132,022,414 | 6,337,797 | 252,774,075 | 1,835,145 | 5,177,669 | 53,034,222 | |||||||||||||||||
| 129,378,790 | 5,776,166 | 246,227,625 | 1,746,619 | 14,922,538 | 56,159,940 | ||||||||||||||||
$53,558 | $9,055 | $115,686 | $937 | $1,716,272 | $1,119 |
The accompanying notes are an integral part of the financial statements. | 31 |
Table of Contents
Statements of Operations
(UNAUDITED) | 11.01.2017 to 04.30.2018 |
Carillon Scout Small Cap Fund | Carillon Reams Core Bond Fund | Carillon Reams Core Plus Bond Fund | Carillon Reams Unconstrained Bond Fund | |||||||||||||
Investment income | ||||||||||||||||
Dividends (a) | $861,305 | $ — | $ — | $ — | ||||||||||||
Interest | 9,450 | 1,401,659 | 8,574,625 | 16,804,606 | ||||||||||||
Total income | 870,755 | 1,401,659 | 8,574,625 | 16,804,606 | ||||||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 957,787 | 239,371 | 1,451,270 | 4,682,749 | ||||||||||||
Administrative fees: | ||||||||||||||||
Class A | 18 | 72 | 38 | 11 | ||||||||||||
Class C | 16 | 63 | 39 | 8 | ||||||||||||
Class I | 129,426 | 55,193 | 330,493 | 709,290 | ||||||||||||
Class R-3 | 5 | 4 | 4 | 4 | ||||||||||||
Class R-5 | 5 | 4 | 4 | 4 | ||||||||||||
Class R-6 | 5 | 4 | 4 | 4 | ||||||||||||
Class Y | 7 | 1,072 | 11,902 | 28,776 | ||||||||||||
Distribution and service fees: | ||||||||||||||||
Class A | 44 | 181 | 95 | 28 | ||||||||||||
Class C | 164 | 627 | 392 | 81 | ||||||||||||
Class R-3 | 23 | 22 | 22 | 22 | ||||||||||||
Class Y | 17 | 2,845 | 31,580 | 76,651 | ||||||||||||
Transfer agent and shareholder servicing fees: | ||||||||||||||||
Class A | 36 | 146 | 48 | 29 | ||||||||||||
Class C | 35 | 137 | 100 | 40 | ||||||||||||
Class I | 160,744 | 79,088 | 149,482 | 529,980 | ||||||||||||
Class R-3 | 23 | 22 | 23 | 23 | ||||||||||||
Class R-5 | 23 | 23 | 23 | 23 | ||||||||||||
Class R-6 | 23 | 23 | 23 | 23 | ||||||||||||
Class Y | 38 | 2,262 | 14,363 | 40,706 | ||||||||||||
Custodian fees | 4,976 | 4,055 | 13,371 | 22,538 | ||||||||||||
Professional fees | 48,469 | 44,783 | 42,211 | 25,656 | ||||||||||||
State registration fees | 13,618 | 19,930 | 32,674 | 48,020 | ||||||||||||
Trustees and officers compensation | 29,121 | 29,121 | 29,121 | 31,972 | ||||||||||||
Internal audit fees | 3,364 | 3,364 | 3,364 | 3,364 | ||||||||||||
Interest expense on line of credit | — | — | — | 38 | ||||||||||||
Other expenses | 34,256 | 25,621 | 64,901 | 149,540 | ||||||||||||
Total expenses before adjustments | 1,382,243 | 508,033 | 2,175,547 | 6,349,580 | ||||||||||||
Fees and expenses waived | (74,304 | ) | (263,066 | ) | (673,114 | ) | (2,355,170 | ) | ||||||||
Recovered fees previously waived by Manager | — | — | — | — | ||||||||||||
Total expenses after adjustments | 1,307,939 | 244,967 | 1,502,433 | 3,994,410 | ||||||||||||
Net investment income (loss) | (437,184 | ) | 1,156,692 | 7,072,192 | 12,810,196 | |||||||||||
Realized and unrealized gain (loss) on investments | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments | 17,657,227 | (825,406 | ) | (6,899,954 | ) | (5,964,550 | ) | |||||||||
Foreign currency transactions | — | — | (87,287 | ) | (312,913 | ) | ||||||||||
Swap contracts | — | — | 149,113 | 759,071 | ||||||||||||
Futures contracts | — | — | 1,905,436 | 5,409,189 | ||||||||||||
Net realized gain (loss) | 17,657,227 | (825,406 | ) | (4,932,692 | ) | (109,203 | ) | |||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments and foreign currency translations | (4,967,476 | ) | (2,027,972 | ) | (11,608,400 | ) | (25,447,201 | ) | ||||||||
Swap contracts | — | — | 28,117 | (156,450 | ) | |||||||||||
Futures contracts | — | — | (2,508,431 | ) | (4,371,185 | ) | ||||||||||
Net change in unrealized appreciation (depreciation) | (4,967,476 | ) | (2,027,972 | ) | (14,088,714 | ) | (29,974,836 | ) | ||||||||
Net gain (loss) on investments | 12,689,751 | (2,853,378 | ) | (19,021,406 | ) | (30,084,039 | ) | |||||||||
Net increase (decrease) in assets resulting from operations | 12,252,567 | (1,696,686 | ) | (11,949,214 | ) | (17,273,843 | ) | |||||||||
(a) Net of foreign withholding taxes | $ — | $ — | $ — | $ — |
32 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
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Table of Contents
Statements of Changes in Net Assets
Carillon ClariVest Capital Appreciation Fund | Carillon ClariVest International Stock Fund | Carillon Cougar Tactical Allocation Fund | Carillon Eagle Growth & Income Fund | |||||||||||||||||||||||||||||
11/1/17 to 4/30/18 (†) | 11/1/16 to 10/31/17 | 11/1/17 to 4/30/18 (†) | 11/1/16 to 10/31/17 | 11/1/17 to 4/30/18 (†) | 11/1/16 to 10/31/17 | 11/1/17 to 4/30/18 (†) | 11/1/16 to 10/31/17 | |||||||||||||||||||||||||
Net assets, beginning of period | $390,895,027 | $339,629,417 | $18,837,745 | $15,173,586 | $17,248,864 | $7,702,229 | $604,140,235 | $553,144,966 | ||||||||||||||||||||||||
Increase (decrease) in net assets from operations | ||||||||||||||||||||||||||||||||
Net investment income (loss) | 440,095 | 237,145 | 90,383 | 147,557 | 80,807 | 130,344 | 5,518,928 | 9,727,133 | ||||||||||||||||||||||||
Net realized gain (loss) | 9,530,919 | 25,222,151 | 525,526 | 975,148 | 874,981 | 270,576 | 22,370,618 | 15,696,282 | ||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 7,980,137 | 72,880,416 | (197,669 | ) | 2,515,759 | (723,008 | ) | 1,070,850 | (4,131,894 | ) | 73,789,804 | |||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 17,951,151 | 98,339,712 | 418,240 | 3,638,464 | 232,780 | 1,471,770 | 23,757,652 | 99,213,219 | ||||||||||||||||||||||||
Distributions to shareholders from | ||||||||||||||||||||||||||||||||
Net investment income | (236,304 | ) | (587,760 | ) | (206,972 | ) | (249,166 | ) | (151,726 | ) | (44,727 | ) | (6,062,343 | ) | (9,759,572 | ) | ||||||||||||||||
Net realized gains | (25,236,644 | ) | (21,213,057 | ) | — | — | (294,315 | ) | (12,282 | ) | (14,660,054 | ) | (28,297,613 | ) | ||||||||||||||||||
Total distributions to shareholders | (25,472,948 | ) | (21,800,817 | ) | (206,972 | ) | (249,166 | ) | (446,041 | ) | (57,009 | ) | (20,722,397 | ) | (38,057,185 | ) | ||||||||||||||||
Fund share transactions | ||||||||||||||||||||||||||||||||
Proceeds from shares sold-Class A | 46,377,005 | 6,795,240 | 3,485,145 | 966,809 | 231,128 | 806,285 | 34,536,815 | 9,824,277 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 9,810,169 | 8,461,224 | 53,718 | 46,859 | 35,648 | 7,495 | 4,780,199 | 9,358,425 | ||||||||||||||||||||||||
Cost of shares redeemed-Class A | (22,716,429 | ) | (28,813,068 | ) | (670,208 | ) | (1,027,215 | ) | (107,609 | ) | (1,379,780 | ) | (18,107,014 | ) | (40,102,590 | ) | ||||||||||||||||
Proceeds from shares sold-Class C | 1,550,179 | 2,860,366 | 396,809 | 719,093 | 144,496 | 1,124,089 | 3,887,128 | 10,370,279 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 5,106,005 | 4,718,569 | 28,462 | 50,527 | 36,455 | 1,498 | 4,424,743 | 9,423,544 | ||||||||||||||||||||||||
Cost of shares redeemed-Class C | (47,400,971 | ) | (18,742,990 | ) | (2,514,470 | ) | (1,471,053 | ) | (150,816 | ) | (512,177 | ) | (47,327,190 | ) | (54,002,995 | ) | ||||||||||||||||
Proceeds from shares sold-Class I | 85,497,370 | 41,711,259 | 1,151,106 | 2,151,420 | 2,010,530 | 11,283,307 | 21,855,916 | 88,518,674 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 7,117,568 | 5,648,884 | 115,509 | 137,212 | 366,673 | 46,925 | 6,806,408 | 10,193,980 | ||||||||||||||||||||||||
Cost of shares redeemed-Class I | (15,340,626 | ) | (76,370,699 | ) | (389,896 | ) | (1,319,428 | ) | (3,118,674 | ) | (3,246,189 | ) | (32,144,451 | ) | (55,059,836 | ) | ||||||||||||||||
Proceeds from shares sold-Class R-3 | 239,374 | 767,737 | 31,731 | 37,886 | — | — | 130,494 | 396,916 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class R-3 | 80,730 | 42,012 | 7,995 | 13,703 | 262 | 12 | 67,570 | 133,127 | ||||||||||||||||||||||||
Cost of shares redeemed-Class R-3 | (252,070 | ) | (845,394 | ) | (3,201 | ) | (7,081 | ) | — | — | (584,504 | ) | (1,069,899 | ) | ||||||||||||||||||
Proceeds from shares sold-Class R-5 | 2,863,265 | 1,236,365 | — | — | — | 20,000 | 10,798 | 124,842 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class R-5 | 195,042 | 466,138 | 45 | 604 | 978 | 337 | 15,348 | 24,913 | ||||||||||||||||||||||||
Cost of shares redeemed-Class R-5 | (3,082,110 | ) | (7,075,399 | ) | — | (25,140 | ) | — | (20,000 | ) | (2,040 | ) | (3,193 | ) | ||||||||||||||||||
Proceeds from shares sold-Class R-6 | 3,261,352 | 36,802,300 | 30,438 | 804 | — | — | 2,410,865 | 4,528,156 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class R-6 | 2,575,449 | 1,841,311 | 177 | 219 | 333 | 72 | 1,460,169 | 2,565,438 | ||||||||||||||||||||||||
Cost of shares redeemed-Class R-6 | (3,231,226 | ) | (4,777,140 | ) | (46 | ) | (358 | ) | — | — | (3,658,080 | ) | (5,384,823 | ) | ||||||||||||||||||
Proceeds from shares sold-Class Y | 17,500 | N/A | 10,000 | N/A | 10,000 | N/A | 10,000 | N/A | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 619 | N/A | 144 | N/A | 289 | N/A | 345 | N/A | ||||||||||||||||||||||||
Cost of shares redeemed-Class Y | — | N/A | — | N/A | — | N/A | — | N/A | ||||||||||||||||||||||||
Net increase (decrease) from fund share transactions | 72,668,195 | (25,273,285 | ) | 1,733,458 | 274,861 | (540,307 | ) | 8,131,874 | (21,426,481 | ) | (10,160,765 | ) | ||||||||||||||||||||
Increase (decrease) in net assets | 65,146,398 | 51,265,610 | 1,944,726 | 3,664,159 | (753,568 | ) | 9,546,635 | (18,391,226 | ) | 50,995,269 | ||||||||||||||||||||||
Net assets, end of period (a) | 456,041,425 | 390,895,027 | 20,782,471 | 18,837,745 | 16,495,296 | 17,248,864 | 585,749,009 | 604,140,235 | ||||||||||||||||||||||||
(a) includes undistributed (accumulated) net investment income (loss) of | $437,989 | $234,198 | $24,578 | $141,167 | $28,726 | $99,645 | $228,663 | $772,078 | ||||||||||||||||||||||||
Shares issued and redeemed | ||||||||||||||||||||||||||||||||
Shares sold-Class A | 1,038,285 | 174,563 | 183,859 | 58,651 | 14,206 | 54,084 | 1,631,083 | 511,170 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 232,303 | 246,468 | 2,847 | 3,128 | 2,213 | 510 | 228,507 | 503,417 | ||||||||||||||||||||||||
Shares redeemed-Class A | (524,430 | ) | (771,842 | ) | (35,585 | ) | (63,784 | ) | (6,555 | ) | (91,722 | ) | (860,143 | ) | (2,070,819 | ) | ||||||||||||||||
Shares sold-Class C | 48,452 | 101,959 | 20,798 | 42,647 | 9,077 | 75,395 | 192,711 | 568,124 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 165,618 | 182,749 | 1,533 | 3,423 | 2,280 | 102 | 220,102 | 530,410 | ||||||||||||||||||||||||
Shares redeemed-Class C | (1,455,526 | ) | (657,104 | ) | (134,955 | ) | (91,947 | ) | (9,366 | ) | (34,171 | ) | (2,339,438 | ) | (2,916,422 | ) | ||||||||||||||||
Shares sold-Class I | 1,873,881 | 1,075,924 | 60,939 | 123,174 | 123,570 | 753,518 | 1,042,103 | 4,625,761 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 160,777 | 157,702 | 6,137 | 9,190 | 22,775 | 3,194 | 326,121 | 547,143 | ||||||||||||||||||||||||
Shares redeemed-Class I | (336,142 | ) | (1,981,381 | ) | (20,654 | ) | (85,412 | ) | (192,005 | ) | (214,603 | ) | (1,530,280 | ) | (2,854,755 | ) | ||||||||||||||||
Shares sold-Class R-3 | 5,755 | 20,685 | 1,688 | 2,347 | — | — | 6,213 | 20,772 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class R-3 | 1,988 | 1,265 | 427 | 922 | 16 | 1 | 3,239 | 7,205 | ||||||||||||||||||||||||
Shares redeemed-Class R-3 | (6,110 | ) | (24,129 | ) | (169 | ) | (421 | ) | — | — | (28,175 | ) | (54,951 | ) | ||||||||||||||||||
Shares sold-Class R-5 | 62,834 | 31,850 | — | — | — | 1,357 | 516 | 6,604 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class R-5 | 4,417 | 13,064 | 2 | 41 | 61 | 23 | 734 | 1,338 | ||||||||||||||||||||||||
Shares redeemed-Class R-5 | (68,110 | ) | (174,308 | ) | — | (1,587 | ) | — | (1,286 | ) | (98 | ) | (166 | ) | ||||||||||||||||||
Shares sold-Class R-6 | 72,054 | 988,409 | 1,597 | 48 | — | — | 115,536 | 237,517 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class R-6 | 58,639 | 51,795 | 9 | 15 | 20 | 5 | 70,110 | 138,259 | ||||||||||||||||||||||||
Shares redeemed-Class R-6 | (71,271 | ) | (121,141 | ) | (2 | ) | (21 | ) | — | — | (174,404 | ) | (281,241 | ) | ||||||||||||||||||
Shares sold-Class Y | 378 | N/A | 539 | N/A | 621 | N/A | 488 | N/A | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 14 | N/A | 8 | N/A | 18 | N/A | 17 | N/A | ||||||||||||||||||||||||
Shares redeemed-Class Y | — | N/A | — | N/A | — | N/A | — | N/A | ||||||||||||||||||||||||
Shares issued and redeemed | 1,263,806 | (683,472 | ) | 89,018 | 414 | (33,069 | ) | 546,407 | (1,095,058 | ) | (480,634 | ) |
(†) The data for fiscal periods ending after October 31, 2017 is unaudited.
34 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Statements of Changes in Net Assets
Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Mid Cap Stock Fund | Carillon Eagle Small Cap Growth Fund | Carillon Eagle Smaller Company Fund | Carillon Scout International Fund | ||||||||||||||||||||||||||||||||||||||
11/1/17 to 4/30/18 (†) | 11/1/16 to 10/31/17 | 11/1/17 to 4/30/18 (†) | 11/1/16 to 10/31/17 | 11/1/17 to 4/30/18 (†) | 11/1/16 to 10/31/17 | 11/1/17 to 4/30/18 (†) | 11/1/16 to 10/31/17 | 11/1/17 to 4/30/18 (†) | 7/1/17 to 10/31/17 | 7/1/16 to 6/30/17 | ||||||||||||||||||||||||||||||||
$2,375,246,768 | $1,373,092,497 | $260,620,494 | $255,357,699 | $5,071,793,231 | $4,065,433,794 | $45,826,515 | $44,458,814 | $1,160,877,255 | $1,186,071,198 | $1,484,259,258 | ||||||||||||||||||||||||||||||||
(2,643,624 | ) | (5,967,322 | ) | (561,631 | ) | (1,557,500 | ) | (6,546,450 | ) | (10,074,287 | ) | (88,526 | ) | (229,555 | ) | 9,744,869 | 3,189,699 | 21,163,293 | ||||||||||||||||||||||||
74,480,147 | 78,036,959 | 18,127,580 | 15,234,061 | 389,174,335 | 403,184,419 | 15,352,227 | 5,112,918 | 33,671,932 | 57,894,069 | 211,739,514 | ||||||||||||||||||||||||||||||||
57,542,267 | 433,729,847 | (11,789,783 | ) | 38,583,152 | (136,400,260 | ) | 713,850,775 | (13,517,082 | ) | 5,694,665 | (28,494,263 | ) | 34,699,691 | (8,637,483 | ) | |||||||||||||||||||||||||||
129,378,790 | 505,799,484 | 5,776,166 | 52,259,713 | 246,227,625 | 1,106,960,907 | 1,746,619 | 10,578,028 | 14,922,538 | 95,783,459 | 224,265,324 | ||||||||||||||||||||||||||||||||
— | (97,570 | ) | — | — | — | — | — | — | (10,001,536 | ) | — | (21,855,165 | ) | |||||||||||||||||||||||||||||
(68,694,184 | ) | — | (13,835,527 | ) | (21,546,258 | ) | (381,398,349 | ) | (125,420,017 | ) | (4,445,200 | ) | (4,398,626 | ) | (167,683,555 | ) | — | (178,101,157 | ) | |||||||||||||||||||||||
(68,694,184 | ) | (97,570 | ) | (13,835,527 | ) | (21,546,258 | ) | (381,398,349 | ) | (125,420,017 | ) | (4,445,200 | ) | (4,398,626 | ) | (177,685,091 | ) | — | (199,956,322 | ) | ||||||||||||||||||||||
144,639,171 | 133,239,573 | 54,596,386 | 3,730,550 | 84,507,996 | 140,727,292 | 1,094,387 | 700,895 | 53,414 | N/A | N/A | ||||||||||||||||||||||||||||||||
11,300,587 | — | 5,453,216 | 8,876,493 | 44,021,081 | 24,299,552 | 1,404,454 | 1,421,448 | 1,591 | N/A | N/A | ||||||||||||||||||||||||||||||||
(87,563,786 | ) | (101,471,121 | ) | (12,731,909 | ) | (30,589,070 | ) | (113,105,877 | ) | (546,392,709 | ) | (3,321,633 | ) | (3,926,139 | ) | — | N/A | N/A | ||||||||||||||||||||||||
19,103,291 | 27,777,900 | 834,520 | 1,356,614 | 6,999,365 | 11,830,049 | 367,166 | 778,632 | 50,000 | N/A | N/A | ||||||||||||||||||||||||||||||||
4,687,506 | — | 5,276,416 | 8,734,608 | 15,524,267 | 6,031,652 | 1,858,636 | 1,796,210 | 1,583 | N/A | N/A | ||||||||||||||||||||||||||||||||
(53,023,694 | ) | (28,869,024 | ) | (60,864,814 | ) | (26,387,954 | ) | (57,272,492 | ) | (49,512,086 | ) | (2,646,289 | ) | (4,230,290 | ) | — | N/A | N/A | ||||||||||||||||||||||||
268,654,470 | 310,616,072 | 5,315,900 | 20,570,228 | 154,426,551 | 553,933,274 | 684,846 | 1,942,826 | 35,650,867 | 16,931,833 | 89,419,257 | ||||||||||||||||||||||||||||||||
18,718,286 | 6,580 | 2,706,733 | 3,272,151 | 103,735,532 | 32,479,254 | 708,035 | 682,837 | 171,813,988 | — | 191,437,939 | ||||||||||||||||||||||||||||||||
(136,472,405 | ) | (125,455,278 | ) | (11,804,584 | ) | (14,981,857 | ) | (292,831,209 | ) | (583,745,867 | ) | (2,352,779 | ) | (4,218,511 | ) | (180,868,468 | ) | (137,909,235 | ) | (603,354,258 | ) | |||||||||||||||||||||
6,716,535 | 9,688,099 | 98,443 | 305,042 | 6,221,449 | 14,821,449 | 71,593 | 164,499 | 10,000 | N/A | N/A | ||||||||||||||||||||||||||||||||
800,829 | — | 58,286 | 104,157 | 7,176,466 | 2,846,912 | 18,840 | 17,126 | 1,588 | N/A | N/A | ||||||||||||||||||||||||||||||||
(5,885,195 | ) | (6,624,642 | ) | (234,292 | ) | (673,390 | ) | (16,499,323 | ) | (34,012,061 | ) | (80,259 | ) | (58,710 | ) | — | N/A | N/A | ||||||||||||||||||||||||
279,366,102 | 117,002,843 | 32,719 | 82,327 | 54,988,552 | 147,981,495 | — | — | 10,000 | N/A | N/A | ||||||||||||||||||||||||||||||||
10,139,695 | 13,068 | 13,587 | 15,754 | 34,589,597 | 13,833,099 | 4,510 | 3,692 | 1,594 | N/A | N/A | ||||||||||||||||||||||||||||||||
(72,315,878 | ) | (43,861,460 | ) | (62,579 | ) | (83,241 | ) | (101,656,835 | ) | (235,670,530 | ) | (111 | ) | — | — | N/A | N/A | |||||||||||||||||||||||||
492,131,256 | 289,700,454 | 64,510 | 253,836 | 444,555,869 | 814,962,934 | 49,409 | 100,377 | 10,000 | N/A | N/A | ||||||||||||||||||||||||||||||||
20,154,738 | 77,414 | 38,113 | 39,211 | 147,039,394 | 36,051,096 | 272,357 | 233,473 | 1,594 | N/A | N/A | ||||||||||||||||||||||||||||||||
(96,716,225 | ) | (85,388,121 | ) | (246,547 | ) | (76,119 | ) | (288,981,176 | ) | (325,646,258 | ) | (124,465 | ) | (220,066 | ) | — | N/A | N/A | ||||||||||||||||||||||||
20,000 | N/A | 12,219 | N/A | 10,000 | N/A | 10,000 | N/A | 10,200 | N/A | N/A | ||||||||||||||||||||||||||||||||
250 | N/A | 464 | N/A | 733 | N/A | 879 | N/A | 1,591 | N/A | N/A | ||||||||||||||||||||||||||||||||
— | N/A | — | N/A | — | N/A | — | N/A | — | N/A | N/A | ||||||||||||||||||||||||||||||||
824,455,533 | 496,452,357 | (11,443,213 | ) | (25,450,660 | ) | 233,449,940 | 24,818,547 | (1,980,424 | ) | (4,811,701 | ) | 26,749,542 | (120,977,402 | ) | (322,497,062 | ) | ||||||||||||||||||||||||||
885,140,139 | 1,002,154,271 | (19,502,574 | ) | 5,262,795 | 98,279,216 | 1,006,359,437 | (4,679,005 | ) | 1,367,701 | (136,013,011 | ) | (25,193,943 | ) | (298,188,060 | ) | |||||||||||||||||||||||||||
3,260,386,907 | 2,375,246,768 | 241,117,920 | 260,620,494 | 5,170,072,447 | 5,071,793,231 | 41,147,510 | 45,826,515 | 1,024,864,244 | 1,160,877,255 | 1,186,071,198 | ||||||||||||||||||||||||||||||||
| $(7,243,449 | ) | $(4,599,825 | ) | $(2,031,026 | ) | $(1,469,395 | ) | $(15,220,002 | ) | $(8,673,552 | ) | $(103,935 | ) | $(15,409 | ) | $4,981,953 | $5,238,620 | $1,735,347 | |||||||||||||||||||||||
2,441,326 | 2,634,506 | 1,868,128 | 139,884 | 1,351,132 | 2,473,642 | 76,104 | 51,336 | 2,433 | N/A | N/A | ||||||||||||||||||||||||||||||||
199,165 | — | 192,218 | 354,209 | 737,495 | 461,355 | 99,819 | 109,595 | 75 | N/A | N/A | ||||||||||||||||||||||||||||||||
(1,502,960 | ) | (2,068,456 | ) | (443,162 | ) | (1,156,925 | ) | (1,844,587 | ) | (9,469,427 | ) | (233,921 | ) | (284,378 | ) | — | N/A | N/A | ||||||||||||||||||||||||
405,223 | 681,231 | 39,200 | 68,846 | 153,202 | 273,490 | 29,337 | 65,084 | 2,162 | N/A | N/A | ||||||||||||||||||||||||||||||||
102,796 | — | 256,136 | 467,842 | 350,356 | 149,335 | 153,733 | 157,562 | 74 | N/A | N/A | ||||||||||||||||||||||||||||||||
(1,087,898 | ) | (721,593 | ) | (2,873,648 | ) | (1,329,185 | ) | (1,220,195 | ) | (1,130,584 | ) | (211,609 | ) | (350,772 | ) | — | N/A | N/A | ||||||||||||||||||||||||
4,344,832 | 5,761,173 | 174,126 | 740,216 | 2,391,503 | 9,142,861 | 43,731 | 131,722 | 1,549,193 | 698,462 | 3,936,668 | ||||||||||||||||||||||||||||||||
313,329 | 139 | 89,984 | 123,851 | 1,654,738 | 591,392 | 46,368 | 49,019 | 8,047,494 | — | 9,218,609 | ||||||||||||||||||||||||||||||||
(2,214,184 | ) | (2,401,812 | ) | (388,049 | ) | (534,291 | ) | (4,541,425 | ) | (9,935,536 | ) | (153,170 | ) | (287,896 | ) | (7,992,073 | ) | (5,699,663 | ) | (26,320,445 | ) | |||||||||||||||||||||
118,067 | 199,556 | 3,567 | 11,985 | 104,496 | 267,123 | 5,242 | 12,350 | 399 | N/A | N/A | ||||||||||||||||||||||||||||||||
14,526 | — | 2,146 | 4,322 | 124,160 | 55,539 | 1,398 | 1,369 | 75 | N/A | N/A | ||||||||||||||||||||||||||||||||
(104,512 | ) | (138,206 | ) | (8,350 | ) | (25,752 | ) | (277,625 | ) | (619,358 | ) | (5,451 | ) | (4,529 | ) | — | N/A | N/A | ||||||||||||||||||||||||
4,535,233 | 2,184,137 | 1,064 | 2,976 | 845,889 | 2,473,948 | — | — | 399 | N/A | N/A | ||||||||||||||||||||||||||||||||
170,186 | 278 | 449 | 593 | 549,303 | 250,827 | 299 | 269 | 75 | N/A | N/A | ||||||||||||||||||||||||||||||||
(1,173,488 | ) | (841,367 | ) | (2,046 | ) | (3,028 | ) | (1,557,310 | ) | (3,971,896 | ) | (7 | ) | — | — | N/A | N/A | |||||||||||||||||||||||||
7,954,050 | 5,465,348 | 2,088 | 9,088 | 6,804,754 | 13,715,564 | 3,163 | 6,793 | 399 | N/A | N/A | ||||||||||||||||||||||||||||||||
335,465 | 1,632 | 1,253 | 1,470 | 2,317,041 | 649,686 | 17,977 | 16,894 | 75 | N/A | N/A | ||||||||||||||||||||||||||||||||
(1,567,544 | ) | (1,639,474 | ) | (7,982 | ) | (2,757 | ) | (4,411,630 | ) | (5,405,986 | ) | (8,020 | ) | (15,237 | ) | — | N/A | N/A | ||||||||||||||||||||||||
326 | N/A | 401 | N/A | 151 | N/A | 617 | N/A | 408 | N/A | N/A | ||||||||||||||||||||||||||||||||
4 | N/A | 15 | N/A | 12 | N/A | 58 | N/A | 75 | N/A | N/A | ||||||||||||||||||||||||||||||||
— | N/A | — | N/A | — | N/A | — | N/A | — | N/A | N/A | ||||||||||||||||||||||||||||||||
13,283,942 | 9,117,092 | (1,092,462 | ) | (1,126,656 | ) | 3,531,460 | (28,025 | ) | (134,332 | ) | (340,819 | ) | 1,611,263 | (5,001,201 | ) | (13,165,168 | ) |
The accompanying notes are an integral part of the financial statements. | 35 |
Table of Contents
Statements of Changes in Net Assets
Carillon Scout Mid Cap Fund | Carillon Scout Small Cap Fund | |||||||||||||||||||||||
11/1/17 to 4/30/18 (†) | 7/1/17 to 10/31/17 | 7/1/16 to 6/30/17 | 11/1/17 to 4/30/18 (†) | 7/1/17 to 10/31/17 | 7/1/16 to 6/30/17 | |||||||||||||||||||
Net assets, beginning of period | $1,675,214,198 | $1,436,856,791 | $1,292,464,719 | $270,531,036 | $241,971,178 | $197,628,825 | ||||||||||||||||||
Increase (decrease) in net assets from operations | ||||||||||||||||||||||||
Net investment income (loss) | 3,125,718 | 173,160 | 5,716,443 | (437,184 | ) | (380,967 | ) | (826,064 | ) | |||||||||||||||
Net realized gain (loss) on investments | 62,365,718 | 24,725,864 | 170,048,847 | 17,657,227 | 5,885,428 | 21,034,270 | ||||||||||||||||||
Net change in unrealized appreciation (depreciation) | (9,331,496 | ) | 111,794,470 | 93,669,684 | (4,967,476 | ) | 17,318,653 | 36,719,366 | ||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 56,159,940 | 136,693,494 | 269,434,974 | 12,252,567 | 22,823,114 | 56,927,572 | ||||||||||||||||||
Distributions to shareholders from | ||||||||||||||||||||||||
Net investment income | (1,987,508 | ) | — | (5,659,420 | ) | — | — | — | ||||||||||||||||
Net realized gains | (136,774,746 | ) | — | (23,066,072 | ) | (25,739,895 | ) | — | (9,176,002 | ) | ||||||||||||||
Return of capital | — | — | — | — | — | — | ||||||||||||||||||
Total distributions to shareholders | (138,762,254 | ) | — | (28,725,492 | ) | (25,739,895 | ) | — | (9,176,002 | ) | ||||||||||||||
Fund share transactions | ||||||||||||||||||||||||
Proceeds from shares sold-Class A | 1,432,246 | N/A | N/A | 116,351 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class A | 3,347 | N/A | N/A | 930 | N/A | N/A | ||||||||||||||||||
Cost of shares redeemed-Class A | (51,375 | ) | N/A | N/A | (22,505 | ) | N/A | N/A | ||||||||||||||||
Proceeds from shares sold-Class C | 1,896,633 | N/A | N/A | 80,000 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class C | 1,837 | N/A | N/A | 930 | N/A | N/A | ||||||||||||||||||
Cost of shares redeemed-Class C | (44,998 | ) | N/A | N/A | — | N/A | N/A | |||||||||||||||||
Proceeds from shares sold-Class I | 645,627,539 | 196,138,852 | 275,358,446 | 21,305,339 | 16,257,579 | 23,420,649 | ||||||||||||||||||
Issued as reinvestment of distributions-Class I | 127,201,107 | — | 25,508,611 | 24,943,908 | — | 8,913,446 | ||||||||||||||||||
Cost of shares redeemed-Class I | (261,583,178 | ) | (94,474,939 | ) | (397,184,467 | ) | (41,627,859 | ) | (10,520,835 | ) | (35,743,312 | ) | ||||||||||||
Proceeds from shares sold-Class R-3 | 166,101 | N/A | N/A | 10,000 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class R-3 | 770 | N/A | N/A | 930 | N/A | N/A | ||||||||||||||||||
Cost of shares redeemed-Class R-3 | (1 | ) | N/A | N/A | — | N/A | N/A | |||||||||||||||||
Proceeds from shares sold-Class R-5 | 18,977 | N/A | N/A | 10,000 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class R-5 | 775 | N/A | N/A | 930 | N/A | N/A | ||||||||||||||||||
Cost of shares redeemed-Class R-5 | — | N/A | N/A | — | N/A | N/A | ||||||||||||||||||
Proceeds from shares sold-Class R-6 | 1,358,156 | N/A | N/A | 10,000 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class R-6 | 775 | N/A | N/A | 930 | N/A | N/A | ||||||||||||||||||
Cost of shares redeemed-Class R-6 | (19 | ) | N/A | N/A | — | N/A | N/A | |||||||||||||||||
Proceeds from shares sold-Class Y | 175,118 | N/A | N/A | 20,200 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 1,692 | N/A | N/A | 930 | N/A | N/A | ||||||||||||||||||
Cost of shares redeemed-Class Y | (5,072 | ) | N/A | N/A | — | N/A | N/A | |||||||||||||||||
Net increase (decrease) from fund share transactions | 516,200,430 | 101,663,913 | (96,317,410 | ) | 4,851,014 | 5,736,744 | (3,409,217 | ) | ||||||||||||||||
Increase (decrease) in net assets | 433,598,116 | 238,357,407 | 144,392,072 | (8,636,314 | ) | 28,559,858 | 44,342,353 | |||||||||||||||||
Net assets, end of period (a) | 2,108,812,314 | 1,675,214,198 | 1,436,856,791 | 261,894,722 | 270,531,036 | 241,971,178 | ||||||||||||||||||
(a) includes undistributed (accumulated) net investment income (loss) of | $1,600,300 | $462,090 | $300,449 | $(437,184 | ) | $ — | $ — | |||||||||||||||||
Shares issued and redeemed | ||||||||||||||||||||||||
Shares sold-Class A | 74,445 | N/A | N/A | 4,108 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class A | 175 | N/A | N/A | 33 | N/A | N/A | ||||||||||||||||||
Shares redeemed-Class A | (2,680 | ) | N/A | N/A | (792 | ) | N/A | N/A | ||||||||||||||||
Shares sold-Class C | 98,726 | N/A | N/A | 2,844 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class C | 96 | N/A | N/A | 33 | N/A | N/A | ||||||||||||||||||
Shares redeemed-Class C | (2,288 | ) | N/A | N/A | — | N/A | N/A | |||||||||||||||||
Shares sold-Class I | 33,193,346 | 10,448,240 | 16,183,075 | 734,727 | 573,693 | 935,976 | ||||||||||||||||||
Issued as reinvestment of distributions-Class I | 6,663,232 | — | 1,520,389 | 884,222 | — | 381,896 | ||||||||||||||||||
Shares redeemed-Class I | (13,477,090 | ) | (5,060,023 | ) | (24,205,520 | ) | (1,479,233 | ) | (376,822 | ) | (1,506,470 | ) | ||||||||||||
Shares sold-Class R-3 | 8,777 | N/A | N/A | 337 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class R-3 | 40 | N/A | N/A | 33 | N/A | N/A | ||||||||||||||||||
Shares redeemed-Class R-3 | — | N/A | N/A | — | N/A | N/A | ||||||||||||||||||
Shares sold-Class R-5 | 969 | N/A | N/A | 337 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class R-5 | 41 | N/A | N/A | 33 | N/A | N/A | ||||||||||||||||||
Shares redeemed-Class R-5 | — | N/A | N/A | — | N/A | N/A | ||||||||||||||||||
Shares sold-Class R-6 | 71,593 | N/A | N/A | 337 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class R-6 | 41 | N/A | N/A | 33 | N/A | N/A | ||||||||||||||||||
Shares redeemed-Class R-6 | (1 | ) | N/A | N/A | — | N/A | N/A | |||||||||||||||||
Shares sold-Class Y | 9,076 | N/A | N/A | 717 | N/A | N/A | ||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 89 | N/A | N/A | 33 | N/A | N/A | ||||||||||||||||||
Shares redeemed-Class Y | (264 | ) | N/A | N/A | — | N/A | N/A | |||||||||||||||||
Shares issued and redeemed | 26,638,323 | 5,388,217 | (6,502,056 | ) | 147,802 | 196,871 | (188,598 | ) |
(†) The data for fiscal periods ending after October 31, 2017 is unaudited.
36 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Statements of Changes in Net Assets
Carillon Reams Core Bond Fund | Carillon Reams Core Plus Bond Fund | Carillon Reams Unconstrained Bond Fund | ||||||||||||||||||||||||||||||||
11/1/17 to 4/30/18 (†) | 7/1/17 to 10/31/17 | 7/1/16 to 6/30/17 | 11/1/17 to 4/30/18 (†) | 7/1/17 to 10/31/17 | 7/1/16 to 6/30/17 | 11/1/17 to 4/30/18 (†) | 7/1/17 to 10/31/17 | 7/1/16 to 6/30/17 | ||||||||||||||||||||||||||
$143,842,579 | $168,933,582 | $207,967,407 | $768,561,795 | $814,467,884 | $925,524,225 | $1,591,781,787 | $1,573,568,177 | $1,373,083,803 | ||||||||||||||||||||||||||
1,156,692 | 860,985 | 2,531,418 | 7,072,192 | 4,100,068 | 11,613,056 | 12,810,196 | 5,175,944 | 12,821,365 | ||||||||||||||||||||||||||
(825,406 | ) | 995,576 | (653,745 | ) | (4,932,692 | ) | 5,118,881 | (2,222,573 | ) | (109,203 | ) | 6,753,052 | 20,161,638 | |||||||||||||||||||||
(2,027,972 | ) | (369,667 | ) | (3,524,209 | ) | (14,088,714 | ) | (2,350,781 | ) | (14,654,117 | ) | (29,974,836 | ) | (4,424,302 | ) | (1,731,471 | ) | |||||||||||||||||
(1,696,686 | ) | 1,486,894 | (1,646,536 | ) | (11,949,214 | ) | 6,868,168 | (5,263,634 | ) | (17,273,843 | ) | 7,504,694 | 31,251,532 | |||||||||||||||||||||
(978,436 | ) | (900,936 | ) | (3,193,832 | ) | (5,844,417 | ) | (3,986,035 | ) | (14,179,016 | ) | (11,045,248 | ) | (4,867,007 | ) | (15,454,884 | ) | |||||||||||||||||
— | — | (4,209,010 | ) | — | — | (20,804,133 | ) | — | — | — | ||||||||||||||||||||||||
— | — | — | — | (197,332 | ) | — | — | — | — | |||||||||||||||||||||||||
(978,436 | ) | (900,936 | ) | (7,402,842 | ) | (5,844,417 | ) | (4,183,367 | ) | (34,983,149 | ) | (11,045,248 | ) | (4,867,007 | ) | (15,454,884 | ) | |||||||||||||||||
442,264 | N/A | N/A | 218,005 | N/A | N/A | 108,574 | N/A | N/A | ||||||||||||||||||||||||||
1,063 | N/A | N/A | 429 | N/A | N/A | 127 | N/A | N/A | ||||||||||||||||||||||||||
(330 | ) | N/A | N/A | — | N/A | N/A | — | N/A | N/A | |||||||||||||||||||||||||
444,624 | N/A | N/A | 186,594 | N/A | N/A | 44,834 | N/A | N/A | ||||||||||||||||||||||||||
972 | N/A | N/A | 373 | N/A | N/A | 69 | N/A | N/A | ||||||||||||||||||||||||||
(208,335 | ) | N/A | N/A | (15,401 | ) | N/A | N/A | (23,429 | ) | N/A | N/A | |||||||||||||||||||||||
12,895,442 | 3,576,959 | 37,721,554 | 50,694,170 | 30,109,489 | 184,300,025 | 277,295,541 | 166,300,043 | 562,801,577 | ||||||||||||||||||||||||||
952,297 | 835,914 | 6,943,328 | 4,368,537 | 3,131,477 | 25,792,908 | 9,938,229 | 4,401,083 | 13,971,363 | ||||||||||||||||||||||||||
(37,738,629 | ) | (30,037,064 | ) | (73,695,489 | ) | (119,290,509 | ) | (79,410,892 | ) | (233,425,295 | ) | (300,295,235 | ) | (127,564,904 | ) | (397,526,066 | ) | |||||||||||||||||
10,000 | N/A | N/A | 10,000 | N/A | N/A | 10,000 | N/A | N/A | ||||||||||||||||||||||||||
58 | N/A | N/A | 57 | N/A | N/A | 51 | N/A | N/A | ||||||||||||||||||||||||||
— | N/A | N/A | — | N/A | N/A | — | N/A | N/A | ||||||||||||||||||||||||||
10,000 | N/A | N/A | 10,000 | N/A | N/A | 10,000 | N/A | N/A | ||||||||||||||||||||||||||
77 | N/A | N/A | 76 | N/A | N/A | 70 | N/A | N/A | ||||||||||||||||||||||||||
— | N/A | N/A | — | N/A | N/A | — | N/A | N/A | ||||||||||||||||||||||||||
10,000 | N/A | N/A | 10,000 | N/A | N/A | 10,000 | N/A | N/A | ||||||||||||||||||||||||||
81 | N/A | N/A | 80 | N/A | N/A | 74 | N/A | N/A | ||||||||||||||||||||||||||
— | N/A | N/A | — | N/A | N/A | — | N/A | N/A | ||||||||||||||||||||||||||
106,869 | 49,907 | 333,047 | 1,777,694 | 420,311 | 33,193,213 | 6,771,960 | 6,608,004 | 87,759,264 | ||||||||||||||||||||||||||
14,795 | 11,211 | 100,478 | 156,207 | 109,494 | 2,188,398 | 352,587 | 170,833 | 804,443 | ||||||||||||||||||||||||||
(465,806 | ) | (113,888 | ) | (1,387,365 | ) | (6,273,456 | ) | (2,950,769 | ) | (82,858,807 | ) | (20,955,893 | ) | (34,339,136 | ) | (83,122,855 | ) | |||||||||||||||||
(23,524,558 | ) | (25,676,961 | ) | (29,984,447 | ) | (68,147,144 | ) | (48,590,890 | ) | (70,809,558 | ) | (26,732,441 | ) | 15,575,923 | 184,687,726 | |||||||||||||||||||
(26,199,680 | ) | (25,091,003 | ) | (39,033,825 | ) | (85,940,775 | ) | (45,906,089 | ) | (111,056,341 | ) | (55,051,532 | ) | 18,213,610 | 200,484,374 | |||||||||||||||||||
117,642,899 | 143,842,579 | 168,933,582 | 682,621,020 | 768,561,795 | 814,467,884 | 1,536,730,255 | 1,591,781,787 | 1,573,568,177 | ||||||||||||||||||||||||||
$178,256 | $ — | $ — | $910,324 | $(317,451 | ) | $(637,846 | ) | $2,453,200 | $688,252 | $190,614 | ||||||||||||||||||||||||
39,559 | N/A | N/A | 6,996 | N/A | N/A | 9,301 | N/A | N/A | ||||||||||||||||||||||||||
95 | N/A | N/A | 14 | N/A | N/A | 11 | N/A | N/A | ||||||||||||||||||||||||||
(29 | ) | N/A | N/A | — | N/A | N/A | — | N/A | N/A | |||||||||||||||||||||||||
39,661 | N/A | N/A | 5,970 | N/A | N/A | 3,818 | N/A | N/A | ||||||||||||||||||||||||||
87 | N/A | N/A | 12 | N/A | N/A | 6 | N/A | N/A | ||||||||||||||||||||||||||
(18,668 | ) | N/A | N/A | (494 | ) | N/A | N/A | (2,004 | ) | N/A | N/A | |||||||||||||||||||||||
1,140,720 | 313,169 | 3,277,843 | 1,610,908 | 946,333 | 5,707,300 | 23,581,806 | 14,025,178 | 47,894,813 | ||||||||||||||||||||||||||
84,353 | 73,151 | 615,646 | 138,829 | 98,455 | 823,334 | 845,513 | 371,239 | 1,189,203 | ||||||||||||||||||||||||||
(3,317,190 | ) | (2,628,930 | ) | (6,425,619 | ) | (3,800,601 | ) | (2,496,559 | ) | (7,337,898 | ) | (25,553,200 | ) | (10,763,667 | ) | (33,804,727 | ) | |||||||||||||||||
876 | N/A | N/A | 315 | N/A | N/A | 846 | N/A | N/A | ||||||||||||||||||||||||||
5 | N/A | N/A | 2 | N/A | N/A | 4 | N/A | N/A | ||||||||||||||||||||||||||
— | N/A | N/A | — | N/A | N/A | — | N/A | N/A | ||||||||||||||||||||||||||
876 | N/A | N/A | 315 | N/A | N/A | 845 | N/A | N/A | ||||||||||||||||||||||||||
7 | N/A | N/A | 2 | N/A | N/A | 6 | N/A | N/A | ||||||||||||||||||||||||||
— | N/A | N/A | — | N/A | N/A | — | N/A | N/A | ||||||||||||||||||||||||||
876 | N/A | N/A | 314 | N/A | N/A | 846 | N/A | N/A | ||||||||||||||||||||||||||
7 | N/A | N/A | 3 | N/A | N/A | 6 | N/A | N/A | ||||||||||||||||||||||||||
— | N/A | N/A | — | N/A | N/A | — | N/A | N/A | ||||||||||||||||||||||||||
9,414 | 4,371 | 28,217 | 56,797 | 13,219 | 1,014,292 | 573,302 | 554,934 | 7,436,866 | ||||||||||||||||||||||||||
1,311 | 981 | 8,919 | 4,965 | 3,443 | 69,914 | 29,853 | 14,343 | 68,155 | ||||||||||||||||||||||||||
(41,234 | ) | (9,973 | ) | (120,246 | ) | (199,779 | ) | (92,923 | ) | (2,597,161 | ) | (1,770,791 | ) | (2,885,189 | ) | (7,028,404 | ) | |||||||||||||||||
(2,059,274 | ) | (2,247,231 | ) | (2,615,240 | ) | (2,175,432 | ) | (1,528,032 | ) | (2,320,219 | ) | (2,279,832 | ) | 1,316,838 | 15,755,906 |
The accompanying notes are an integral part of the financial statements. | 37 |
Table of Contents
Fiscal periods | From investment operations | Dividends & distributions |
| Ratios to average net asset (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning net asset value | Income (loss) | Realized & unrealized gain (loss) | Total | From investment income | From realized gains | From return of capital | Total | Ending net asset value | With expenses waived/ recovered (a) | Without expenses waived/ recovered (a) | Net income (loss) (a) | Portfolio turnover rate (%) (b) | Total return (%) (b)(c) | Ending net assets (millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carillon ClariVest Capital Appreciation Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | $43.14 | $0.03 | $2.06 | $2.09 | $— | $ | (2.70 | ) | $— | $ | (2.70 | ) | $42.53 | 1.04 | 1.12 | 0.13 | 13 | 4.90 | $193 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 35.05 | 0.02 | 10.24 | 10.26 | (0.03 | ) | (2.14 | ) | — | (2.17 | ) | 43.14 | 1.20 | 1.20 | 0.07 | 33 | 30.84 | 164 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 40.32 | 0.08 | (0.09 | ) | (0.01 | ) | (0.01 | ) | (5.25 | ) | — | (5.26 | ) | 35.05 | 1.23 | 1.23 | 0.22 | 35 | 0.30 | 145 | |||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 42.02 | 0.09 | 3.80 | 3.89 | — | (5.59 | ) | — | (5.59 | ) | 40.32 | 1.19 | 1.19 | 0.22 | 42 | 10.29 | 168 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 39.59 | 0.01 | 6.64 | 6.65 | — | (4.22 | ) | — | (4.22 | ) | 42.02 | 1.23 | 1.23 | 0.02 | 33 | 18.34 | 157 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 30.95 | 0.10 | 8.66 | 8.76 | (0.12 | ) | — | — | (0.12 | ) | 39.59 | 1.30 | 1.30 | 0.30 | 69 | (d) | 28.41 | 205 | |||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 32.23 | (0.08 | ) | 1.51 | 1.43 | — | (2.70 | ) | — | (2.70 | ) | 30.96 | 1.82 | 1.92 | (0.52 | ) | 13 | 4.48 | 22 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 26.88 | (0.20 | ) | 7.69 | 7.49 | — | (2.14 | ) | — | (2.14 | ) | 32.23 | 1.97 | 1.97 | (0.70 | ) | 33 | 29.83 | 63 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 32.37 | (0.15 | ) | (0.09 | ) | (0.24 | ) | — | (5.25 | ) | — | (5.25 | ) | 26.88 | 2.00 | 2.00 | (0.55 | ) | 35 | (0.45 | ) | 62 | |||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 35.05 | (0.17 | ) | 3.08 | 2.91 | — | (5.59 | ) | — | (5.59 | ) | 32.37 | 1.96 | 1.96 | (0.54 | ) | 42 | 9.42 | 69 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 33.93 | (0.24 | ) | 5.58 | 5.34 | — | (4.22 | ) | — | (4.22 | ) | 35.05 | 1.97 | 1.97 | (0.73 | ) | 33 | 17.45 | 68 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 26.62 | (0.13 | ) | 7.44 | 7.31 | — | — | — | — | 33.93 | 2.03 | 2.03 | (0.43 | ) | 69 | (d) | 27.46 | 68 | |||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 45.13 | 0.10 | 2.16 | 2.26 | (0.06 | ) | (2.70 | ) | — | (2.76 | ) | 44.63 | 0.74 | 0.85 | 0.44 | 13 | 5.06 | 194 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 36.55 | 0.16 | 10.68 | 10.84 | (0.12 | ) | (2.14 | ) | — | (2.26 | ) | 45.13 | 0.88 | 0.88 | 0.39 | 33 | 31.26 | 119 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 41.83 | 0.19 | (0.09 | ) | 0.10 | (0.13 | ) | (5.25 | ) | — | (5.38 | ) | 36.55 | 0.92 | 0.92 | 0.52 | 35 | 0.61 | 124 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 43.34 | 0.21 | 3.93 | 4.14 | (0.06 | ) | (5.59 | ) | — | (5.65 | ) | 41.83 | 0.90 | 0.90 | 0.51 | 42 | 10.59 | 103 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 40.60 | 0.13 | 6.83 | 6.96 | — | (4.22 | ) | — | (4.22 | ) | 43.34 | 0.94 | 0.93 | 0.32 | 33 | 18.68 | 88 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 31.72 | 0.19 | 8.92 | 9.11 | (0.23 | ) | — | — | (0.23 | ) | 40.60 | 0.95 | 0.99 | 0.51 | 69 | (d) | 28.87 | 30 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 41.60 | (0.03 | ) | 1.99 | 1.96 | — | (2.70 | ) | — | (2.70 | ) | 40.86 | 1.33 | 1.44 | (0.13 | ) | 13 | 4.76 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 33.95 | (0.10 | ) | 9.89 | 9.79 | — | (2.14 | ) | — | (2.14 | ) | 41.60 | 1.51 | 1.56 | (0.28 | ) | 33 | 30.43 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 39.33 | (0.04 | ) | (0.09 | ) | (0.13 | ) | — | (5.25 | ) | — | (5.25 | ) | 33.95 | 1.57 | 1.57 | (0.12 | ) | 35 | (0.04 | ) | 1 | |||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 41.24 | (0.04 | ) | 3.72 | 3.68 | — | (5.59 | ) | — | (5.59 | ) | 39.33 | 1.51 | 1.51 | (0.10 | ) | 42 | 9.94 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 39.05 | (0.11 | ) | 6.52 | 6.41 | — | (4.22 | ) | — | (4.22 | ) | 41.24 | 1.56 | 1.56 | (0.30 | ) | 33 | 17.94 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 30.53 | 0.01 | 8.52 | 8.53 | (0.01 | ) | — | — | (0.01 | ) | 39.05 | 1.60 | 1.60 | 0.02 | 69 | (d) | 27.94 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 44.97 | 0.07 | 2.18 | 2.25 | (0.01 | ) | (2.70 | ) | — | (2.71 | ) | 44.51 | 0.77 | 0.90 | 0.31 | 13 | 5.06 | 3 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 36.44 | 0.17 | 10.63 | 10.80 | (0.13 | ) | (2.14 | ) | — | (2.27 | ) | 44.97 | 0.89 | 0.89 | 0.45 | 33 | 31.26 | 3 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 41.70 | 0.20 | (0.08 | ) | 0.12 | (0.13 | ) | (5.25 | ) | — | (5.38 | ) | 36.44 | 0.90 | 0.90 | 0.55 | 35 | 0.64 | 7 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 43.20 | 0.18 | 3.93 | 4.11 | (0.02 | ) | (5.59 | ) | — | (5.61 | ) | 41.70 | 0.95 | 0.86 | 0.46 | 42 | 10.54 | 8 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 40.50 | 0.10 | 6.82 | 6.92 | — | (4.22 | ) | — | (4.22 | ) | 43.20 | 0.95 | 0.94 | 0.25 | 33 | 18.62 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 31.66 | 0.25 | 8.83 | 9.08 | (0.24 | ) | — | — | (0.24 | ) | 40.50 | 0.95 | 0.99 | 0.73 | 69 | (d) | 28.84 | 20 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 44.82 | 0.12 | 2.14 | 2.26 | (0.09 | ) | (2.70 | ) | — | (2.79 | ) | 44.29 | 0.67 | 0.80 | 0.53 | 13 | 5.09 | 43 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 36.35 | 0.14 | 10.66 | 10.80 | (0.19 | ) | (2.14 | ) | — | (2.33 | ) | 44.82 | 0.82 | 0.82 | 0.34 | 33 | 31.36 | 41 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 41.66 | 0.22 | (0.09 | ) | 0.13 | (0.19 | ) | (5.25 | ) | — | (5.44 | ) | 36.35 | 0.85 | 1.49 | 0.60 | 35 | 0.68 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
07/31/15 | 10/31/15 | 41.71 | 0.06 | (0.11 | ) | (0.05 | ) | — | — | — | — | 41.66 | 0.82 | 0.82 | 0.57 | 42 | (0.12 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 45.64 | 0.03 | 1.66 | 1.69 | (0.12 | ) | (2.70 | ) | — | (2.82 | ) | 44.51 | 1.02 | 1.42 | 0.15 | 13 | 3.76 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Carillon ClariVest International Stock Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 18.71 | 0.12 | 0.31 | 0.43 | (0.21 | ) | — | — | (0.21 | ) | 18.93 | 1.45 | 2.92 | 1.31 | 18 | 2.30 | 7 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 15.02 | 0.17 | 3.71 | 3.88 | (0.19 | ) | — | — | (0.19 | ) | 18.71 | 1.54 | 3.72 | 1.03 | 80 | 26.15 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 16.02 | 0.21 | (1.14 | ) | (0.93 | ) | (0.07 | ) | — | — | (0.07 | ) | 15.02 | 1.67 | 3.45 | 1.40 | 100 | (5.84 | ) | 4 | |||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 16.54 | 0.14 | 0.40 | 0.54 | (0.39 | ) | (0.67 | ) | — | (1.06 | ) | 16.02 | 1.58 | 4.04 | 0.88 | 86 | 3.63 | 10 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.48 | 0.42 | (0.13 | ) | 0.29 | (0.14 | ) | (0.09 | ) | — | (0.23 | ) | 16.54 | 1.57 | 5.96 | 2.49 | 96 | 1.73 | 4 | ||||||||||||||||||||||||||||||||||||||||||||
02/28/13 | 10/31/13 | 14.29 | 0.15 | 2.04 | 2.19 | — | — | — | — | 16.48 | 1.55 | 11.48 | 1.50 | 42 | 15.33 | 4 |
38 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Financial Highlights
Fiscal periods | From investment operations | Dividends & distributions |
| Ratios to average net asset (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning net asset value | Income (loss) | Realized & unrealized gain (loss) | Total | From investment income | From realized gains | From return of capital | Total | Ending net asset value | With expenses waived/ recovered (a) | Without expenses waived/ recovered (a) | Net income (loss) (a) | Portfolio turnover rate (%) (b) | Total return (%) (b)(c) | Ending net assets (millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carillon ClariVest International Stock Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | $18.32 | $(0.02 | ) | $0.37 | $0.35 | $(0.10 | ) | $— | $— | $(0.10 | ) | $18.57 | 2.20 | 3.78 | (0.22 | ) | 18 | 1.91 | $3 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 14.79 | 0.04 | 3.65 | 3.69 | (0.16 | ) | — | — | (0.16 | ) | 18.32 | 2.29 | 4.50 | 0.27 | 80 | 25.21 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 15.83 | 0.08 | (1.12 | ) | (1.04 | ) | — | — | — | — | 14.79 | 2.47 | 4.31 | 0.52 | 100 | (6.57 | ) | 5 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 16.38 | 0.03 | 0.38 | 0.41 | (0.29 | ) | (0.67 | ) | — | (0.96 | ) | 15.83 | 2.35 | 4.95 | 0.18 | 86 | 2.80 | 5 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.38 | 0.30 | (0.14 | ) | 0.16 | (0.07 | ) | (0.09 | ) | — | (0.16 | ) | 16.38 | 2.35 | 6.68 | 1.78 | 96 | 0.94 | 4 | ||||||||||||||||||||||||||||||||||||||||||||
02/28/13 | 10/31/13 | 14.29 | 0.11 | 1.98 | 2.09 | — | — | — | — | 16.38 | 2.39 | 12.03 | 1.07 | 42 | 14.63 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 18.70 | 0.12 | 0.34 | 0.46 | (0.26 | ) | — | — | (0.26 | ) | 18.90 | 1.15 | 2.64 | 1.28 | 18 | 2.44 | 9 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 15.11 | 0.23 | 3.71 | 3.94 | (0.35 | ) | — | — | (0.35 | ) | 18.70 | 1.15 | 3.28 | 1.40 | 80 | 26.63 | 8 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 16.08 | 0.30 | (1.15 | ) | (0.85 | ) | (0.12 | ) | — | — | (0.12 | ) | 15.11 | 1.15 | 3.12 | 2.03 | 100 | (5.31 | ) | 6 | |||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 16.62 | 0.21 | 0.39 | 0.60 | (0.47 | ) | (0.67 | ) | — | (1.14 | ) | 16.08 | 1.15 | 3.82 | 1.31 | 86 | 4.04 | 2 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.52 | 0.53 | (0.17 | ) | 0.36 | (0.17 | ) | (0.09 | ) | — | (0.26 | ) | 16.62 | 1.15 | 5.43 | 3.16 | 96 | 2.18 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
02/28/13 | 10/31/13 | 14.29 | 0.13 | 2.10 | 2.23 | — | — | — | 16.52 | 1.15 | 4.25 | 1.21 | 42 | 15.61 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 18.53 | 0.07 | 0.33 | 0.40 | (0.18 | ) | — | — | (0.18 | ) | 18.75 | 1.70 | 3.27 | 0.71 | 18 | 2.15 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 15.04 | 0.15 | 3.67 | 3.82 | (0.33 | ) | — | — | (0.33 | ) | 18.53 | 1.71 | 3.98 | 0.89 | 80 | 25.91 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 15.99 | 0.12 | (1.05 | ) | (0.93 | ) | (0.02 | ) | — | — | (0.02 | ) | 15.04 | 1.75 | 3.86 | 0.77 | 100 | (5.84 | ) | 1 | |||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 16.53 | 0.13 | 0.37 | 0.50 | (0.37 | ) | (0.67 | ) | — | (1.04 | ) | 15.99 | 1.74 | 4.38 | 0.79 | 86 | 3.37 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.45 | 0.40 | (0.13 | ) | 0.27 | (0.10 | ) | (0.09 | ) | — | (0.19 | ) | 16.53 | 1.73 | 6.22 | 2.37 | 96 | 1.64 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
02/28/13 | 10/31/13 | 14.29 | 0.19 | 1.97 | 2.16 | — | — | — | — | 16.45 | 1.75 | 13.83 | 1.84 | 42 | 15.12 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 18.69 | 0.12 | 0.34 | 0.46 | (0.23 | ) | — | — | (0.23 | ) | 18.92 | 1.15 | 4.17 | 1.23 | 18 | 2.46 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 15.11 | 0.08 | 3.85 | 3.93 | (0.35 | ) | — | — | (0.35 | ) | 18.69 | 1.15 | 3.69 | 0.49 | 80 | 26.56 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 16.09 | 0.27 | (1.13 | ) | (0.86 | ) | (0.12 | ) | — | — | (0.12 | ) | 15.11 | 1.15 | 3.22 | 1.79 | 100 | (5.36 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 16.63 | 0.25 | 0.35 | 0.60 | (0.47 | ) | (0.67 | ) | — | (1.14 | ) | 16.09 | 1.15 | 3.59 | 1.58 | 86 | 4.01 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.52 | 0.50 | (0.14 | ) | 0.36 | (0.16 | ) | (0.09 | ) | — | (0.25 | ) | 16.63 | 1.15 | 5.67 | 2.96 | 96 | 2.18 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
02/28/13 | 10/31/13 | 14.29 | 0.25 | 1.98 | 2.23 | — | — | — | — | 16.52 | 1.15 | 13.27 | 2.44 | 42 | 15.61 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 18.75 | 0.15 | 0.31 | 0.46 | (0.27 | ) | — | — | (0.27 | ) | 18.94 | 1.05 | 3.14 | 1.53 | 18 | 2.45 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 15.14 | 0.26 | 3.71 | 3.97 | (0.36 | ) | — | — | (0.36 | ) | 18.75 | 1.05 | 3.78 | 1.55 | 80 | 26.82 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 16.11 | 0.27 | (1.11 | ) | (0.84 | ) | (0.13 | ) | — | — | (0.13 | ) | 15.14 | 1.05 | 3.73 | 1.80 | 100 | (5.26 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 16.65 | 0.24 | 0.37 | 0.61 | (0.48 | ) | (0.67 | ) | — | (1.15 | ) | 16.11 | 1.05 | 3.80 | 1.48 | 86 | 4.11 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.53 | 0.51 | (0.13 | ) | 0.38 | (0.17 | ) | (0.09 | ) | — | (0.26 | ) | 16.65 | 1.05 | 5.67 | 3.05 | 96 | 2.31 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
02/28/13 | 10/31/13 | 14.29 | 0.26 | 1.98 | 2.24 | — | — | — | — | 16.53 | 1.05 | 13.27 | 2.54 | 42 | 15.68 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 18.54 | 0.09 | 0.50 | 0.59 | (0.27 | ) | — | — | (0.27 | ) | 18.86 | 1.45 | 3.34 | 1.05 | 18 | 3.18 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
Carillon Cougar Tactical Allocation Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 16.05 | 0.07 | 0.14 | 0.21 | (0.11 | ) | (0.29 | ) | — | (0.40 | ) | 15.86 | 1.17 | 2.56 | 0.83 | 55 | 1.27 | 2 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 14.59 | 0.12 | 1.40 | 1.52 | (0.04 | ) | (0.02 | ) | — | (0.06 | ) | 16.05 | 1.17 | 3.55 | 0.79 | 152 | 10.42 | 2 | |||||||||||||||||||||||||||||||||||||||||||||
12/31/15 | 10/31/16 | 14.29 | 0.06 | 0.24 | 0.30 | — | — | — | — | 14.59 | 1.17 | 17.33 | 0.47 | 66 | 2.10 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 15.87 | — | (e) | 0.15 | 0.15 | (0.03 | ) | (0.29 | ) | — | (0.32 | ) | 15.70 | 1.92 | 3.31 | 0.04 | 55 | 0.87 | 2 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 14.50 | 0.01 | 1.38 | 1.39 | — | (0.02 | ) | — | (0.02 | ) | 15.87 | 1.93 | 4.11 | 0.05 | 152 | 9.58 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||
12/31/15 | 10/31/16 | 14.29 | (0.04 | ) | 0.25 | 0.21 | — | — | — | — | 14.50 | 1.97 | 10.40 | (0.31 | ) | 66 | 1.47 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 16.09 | 0.09 | 0.14 | 0.23 | (0.17 | ) | (0.29 | ) | — | (0.46 | ) | 15.86 | 0.87 | 2.32 | 1.11 | 55 | 1.37 | 13 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 14.62 | 0.17 | 1.40 | 1.57 | (0.08 | ) | (0.02 | ) | — | (0.10 | ) | 16.09 | 0.87 | 3.00 | 1.09 | 152 | 10.79 | 14 | |||||||||||||||||||||||||||||||||||||||||||||
12/31/15 | 10/31/16 | 14.29 | 0.10 | 0.23 | 0.33 | — | — | — | — | 14.62 | 0.87 | 8.81 | 0.77 | 66 | 2.31 | 5 |
The accompanying notes are an integral part of the financial statements. | 39 |
Table of Contents
Financial Highlights
Fiscal periods | From investment operations | Dividends & distributions |
| Ratios to average net asset (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning net asset value | Income (loss) | Realized & unrealized gain (loss) | Total | From investment income | From realized gains | From return of capital | Total | Ending net asset value | With expenses waived/ recovered (a) | Without expenses waived/ recovered (a) | Net income (loss) (a) | Portfolio turnover rate (%) (b) | Total return (%) (b)(c) | Ending net assets (millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carillon Cougar Tactical Allocation Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | $16.03 | $0.04 | $0.15 | $0.19 | $ | (0.09 | ) | $ | (0.29 | ) | $— | $ | (0.38 | ) | $15.84 | 1.42 | 3.09 | 0.55 | 55 | 1.11 | $0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 14.57 | 0.09 | 1.39 | 1.48 | — | (0.02 | ) | — | (0.02 | ) | 16.03 | 1.40 | 3.62 | 0.57 | 152 | 10.15 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
12/31/15 | 10/31/16 | 14.29 | 0.03 | 0.25 | 0.28 | — | — | — | — | 14.57 | 1.37 | 22.76 | 0.21 | 66 | 1.96 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 16.09 | 0.09 | 0.15 | 0.24 | (0.16 | ) | (0.29 | ) | — | (0.45 | ) | 15.88 | 0.87 | 2.43 | 1.10 | 55 | 1.46 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 14.63 | 0.17 | 1.39 | 1.56 | (0.08 | ) | (0.02 | ) | — | (0.10 | ) | 16.09 | 0.87 | 3.18 | 1.15 | 152 | 10.71 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
12/31/15 | 10/31/16 | 14.29 | 0.08 | 0.26 | 0.34 | — | — | — | — | 14.63 | 0.87 | 21.86 | 0.69 | 66 | 2.38 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 16.12 | 0.10 | 0.14 | 0.24 | (0.18 | ) | (0.29 | ) | — | (0.47 | ) | 15.89 | 0.77 | 2.54 | 1.20 | 55 | 1.46 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 14.64 | 0.18 | 1.41 | 1.59 | (0.09 | ) | (0.02 | ) | — | (0.11 | ) | 16.12 | 0.77 | 3.04 | 1.21 | 152 | 10.88 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
12/31/15 | 10/31/16 | 14.29 | 0.10 | 0.25 | 0.35 | — | — | — | — | 14.64 | 0.77 | 22.16 | 0.82 | 66 | 2.45 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 16.11 | 0.06 | 0.13 | 0.19 | (0.18 | ) | (0.29 | ) | — | (0.47 | ) | 15.83 | 1.17 | 2.98 | 0.90 | 55 | 1.10 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Growth & Income Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 20.39 | 0.19 | 0.61 | 0.80 | (0.22 | ) | (0.50 | ) | — | (0.72 | ) | 20.47 | 0.97 | 0.97 | 1.87 | 7 | 3.83 | 168 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 18.39 | 0.34 | 2.93 | 3.27 | (0.33 | ) | (0.94 | ) | — | (1.27 | ) | 20.39 | 1.03 | 1.03 | 1.74 | 10 | 18.56 | 147 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 17.52 | 0.34 | 0.85 | 1.19 | (0.32 | ) | — | — | (0.32 | ) | 18.39 | 1.06 | 1.06 | 1.91 | 15 | 6.87 | 152 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 18.27 | 0.36 | (0.64 | ) | (0.28 | ) | (0.32 | ) | (0.13 | ) | (0.02 | ) | (0.47 | ) | 17.52 | 1.02 | 1.02 | 1.99 | 25 | (1.55 | ) | 180 | |||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.68 | 0.30 | 1.91 | 2.21 | (0.28 | ) | (0.34 | ) | — | (0.62 | ) | 18.27 | 1.02 | 1.02 | 1.71 | 10 | 13.52 | 223 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 13.87 | 0.33 | 3.06 | 3.39 | (0.33 | ) | (0.25 | ) | — | (0.58 | ) | 16.68 | 1.09 | 1.09 | 2.17 | 28 | 25.14 | 214 | |||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 19.54 | 0.11 | 0.59 | 0.70 | (0.13 | ) | (0.50 | ) | — | (0.63 | ) | 19.61 | 1.74 | 1.74 | 1.14 | 7 | 3.49 | 131 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 17.68 | 0.18 | 2.81 | 2.99 | (0.19 | ) | (0.94 | ) | — | (1.13 | ) | 19.54 | 1.79 | 1.79 | 0.98 | 10 | 17.62 | 169 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 16.86 | 0.20 | 0.82 | 1.02 | (0.20 | ) | — | — | (0.20 | ) | 17.68 | 1.82 | 1.82 | 1.14 | 15 | 6.07 | 185 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 17.60 | 0.21 | (0.60 | ) | (0.39 | ) | (0.20 | ) | (0.13 | ) | (0.02 | ) | (0.35 | ) | 16.86 | 1.79 | 1.79 | 1.21 | 25 | (2.30 | ) | 197 | |||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.10 | 0.16 | 1.83 | 1.99 | (0.15 | ) | (0.34 | ) | — | (0.49 | ) | 17.60 | 1.79 | 1.79 | 0.92 | 10 | 12.63 | 212 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 13.41 | 0.21 | 2.95 | 3.16 | (0.22 | ) | (0.25 | ) | — | (0.47 | ) | 16.10 | 1.84 | 1.84 | 1.39 | 28 | 24.23 | 170 | |||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 20.34 | 0.22 | 0.60 | 0.82 | (0.24 | ) | (0.50 | ) | — | (0.74 | ) | 20.42 | 0.72 | 0.72 | 2.13 | 7 | 3.96 | 244 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 18.35 | 0.39 | 2.93 | 3.32 | (0.39 | ) | (0.94 | ) | — | (1.33 | ) | 20.34 | 0.75 | 0.75 | 2.00 | 10 | 18.90 | 246 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 17.48 | 0.39 | 0.85 | 1.24 | (0.37 | ) | — | — | (0.37 | ) | 18.35 | 0.79 | 0.79 | 2.17 | 15 | 7.18 | 179 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 18.24 | 0.40 | (0.64 | ) | (0.24 | ) | (0.37 | ) | (0.13 | ) | (0.02 | ) | (0.52 | ) | 17.48 | 0.76 | 0.76 | 2.23 | 25 | (1.33 | ) | 200 | |||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.65 | 0.33 | 1.93 | 2.26 | (0.33 | ) | (0.34 | ) | — | (0.67 | ) | 18.24 | 0.77 | 0.77 | 1.89 | 10 | 13.86 | 207 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 13.85 | 0.37 | 3.06 | 3.43 | (0.38 | ) | (0.25 | ) | — | (0.63 | ) | 16.65 | 0.80 | 0.80 | 2.37 | 28 | 25.49 | 94 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 20.30 | 0.16 | 0.60 | 0.76 | (0.18 | ) | (0.50 | ) | — | (0.68 | ) | 20.38 | 1.33 | 1.33 | 1.55 | 7 | 3.65 | 2 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 18.32 | 0.28 | 2.91 | 3.19 | (0.27 | ) | (0.94 | ) | — | (1.21 | ) | 20.30 | 1.34 | 1.34 | 1.44 | 10 | 18.15 | 2 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 17.44 | 0.28 | 0.87 | 1.15 | (0.27 | ) | — | — | (0.27 | ) | 18.32 | 1.37 | 1.37 | 1.60 | 15 | 6.61 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 18.19 | 0.28 | (0.63 | ) | (0.35 | ) | (0.25 | ) | (0.13 | ) | (0.02 | ) | (0.40 | ) | 17.44 | 1.44 | 1.44 | 1.57 | 25 | (1.99 | ) | 3 | |||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.61 | 0.23 | 1.90 | 2.13 | (0.21 | ) | (0.34 | ) | — | (0.55 | ) | 18.19 | 1.40 | 1.40 | 1.33 | 10 | 13.08 | 4 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 13.82 | 0.28 | 3.04 | 3.32 | (0.28 | ) | (0.25 | ) | — | (0.53 | ) | 16.61 | 1.43 | 1.43 | 1.81 | 28 | 24.71 | 4 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 20.36 | 0.22 | 0.61 | 0.83 | (0.24 | ) | (0.50 | ) | — | (0.74 | ) | 20.45 | 0.73 | 0.73 | 2.12 | 7 | 3.99 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 18.38 | 0.38 | 2.93 | 3.31 | (0.39 | ) | (0.94 | ) | — | (1.33 | ) | 20.36 | 0.76 | 0.76 | 1.97 | 10 | 18.82 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 17.50 | 0.39 | 0.87 | 1.26 | (0.38 | ) | — | — | (0.38 | ) | 18.38 | 0.75 | 0.75 | 2.21 | 15 | 7.27 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 18.21 | 0.44 | (0.76 | ) | (0.32 | ) | (0.24 | ) | (0.13 | ) | (0.02 | ) | (0.39 | ) | 17.50 | 0.78 | 0.79 | 2.39 | 25 | (1.82 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.63 | 0.34 | 1.90 | 2.24 | (0.32 | ) | (0.34 | ) | — | (0.66 | ) | 18.21 | 0.76 | 0.76 | 1.95 | 10 | 13.80 | 4 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 13.84 | 0.33 | 3.10 | 3.43 | (0.39 | ) | (0.25 | ) | — | (0.64 | ) | 16.63 | 0.72 | 0.72 | 2.07 | 28 | 25.54 | 3 |
40 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Financial Highlights
Fiscal periods | From investment operations | Dividends & distributions |
| Ratios to average net asset (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning net asset value | Income (loss) | Realized & unrealized gain (loss) | Total | From investment income | From realized gains | From return of capital | Total | Ending net asset value | With expenses waived/ recovered (a) | Without expenses waived/ recovered (a) | Net income (loss) (a) | Portfolio turnover rate (%) (b) | Total return (%) (b)(c) | Ending net assets (millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Growth & Income Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | $20.30 | $0.23 | $0.60 | $0.83 | $(0.25 | ) | $(0.50 | ) | $— | $(0.75 | ) | $20.38 | 0.64 | 0.64 | 2.21 | 7 | 4.01 | $40 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 18.32 | 0.40 | 2.93 | 3.33 | (0.41 | ) | (0.94 | ) | — | (1.35 | ) | 20.30 | 0.65 | 0.65 | 2.10 | 10 | 18.98 | 40 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 17.46 | 0.39 | 0.87 | 1.26 | (0.40 | ) | — | — | (0.40 | ) | 18.32 | 0.67 | 0.67 | 2.18 | 15 | 7.30 | 34 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 18.26 | 0.45 | (0.71 | ) | (0.26 | ) | (0.39 | ) | (0.13 | ) | (0.02 | ) | (0.54 | ) | 17.46 | 0.65 | 0.65 | 2.47 | 25 | (1.46 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 16.67 | 0.35 | 1.92 | 2.27 | (0.34 | ) | (0.34 | ) | — | (0.68 | ) | 18.26 | 0.66 | 0.66 | 2.01 | 10 | 13.94 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 13.86 | 0.34 | 3.10 | 3.44 | (0.38 | ) | (0.25 | ) | — | (0.63 | ) | 16.67 | 0.71 | 0.71 | 2.09 | 28 | 25.59 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Class Y* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 20.48 | 0.15 | 0.49 | 0.64 | (0.21 | ) | (0.50 | ) | — | (0.71 | ) | 20.41 | 1.25 | 1.44 | 1.59 | 7 | 3.03 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Mid Cap Growth Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 56.41 | (0.11 | ) | 3.14 | 3.03 | — | (1.52 | ) | — | (1.52 | ) | 57.92 | 1.03 | 1.03 | (0.39 | ) | 14 | 5.42 | 537 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 42.29 | (0.26 | ) | 14.38 | 14.12 | — | — | — | — | 56.41 | 1.12 | 1.12 | (0.53 | ) | 44 | 33.39 | 459 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 43.39 | (0.17 | ) | (0.23 | ) | (0.40 | ) | — | (0.70 | ) | — | (0.70 | ) | 42.29 | 1.17 | 1.17 | (0.40 | ) | 34 | (0.87 | ) | 320 | |||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 45.68 | (0.26 | ) | 2.26 | 2.00 | — | (4.29 | ) | — | (4.29 | ) | 43.39 | 1.14 | 1.14 | (0.59 | ) | 52 | 4.70 | 354 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 41.03 | (0.17 | ) | 6.74 | 6.57 | — | (1.92 | ) | — | (1.92 | ) | 45.68 | 1.19 | 1.19 | (0.40 | ) | 60 | 16.58 | 283 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 31.52 | (0.03 | ) | 10.68 | 10.65 | — | (1.14 | ) | — | (1.14 | ) | 41.03 | 1.20 | 1.20 | (0.08 | ) | 52 | 34.81 | 304 | ||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 45.67 | (0.25 | ) | 2.53 | 2.28 | — | (1.52 | ) | — | (1.52 | ) | 46.43 | 1.75 | 1.75 | (1.09 | ) | 14 | 5.05 | 122 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 34.48 | (0.50 | ) | 11.69 | 11.19 | — | — | — | — | 45.67 | 1.84 | 1.84 | (1.24 | ) | 44 | 32.45 | 146 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 35.76 | (0.38 | ) | (0.20 | ) | (0.58 | ) | — | (0.70 | ) | — | (0.70 | ) | 34.48 | 1.88 | 1.88 | (1.11 | ) | 34 | (1.58 | ) | 112 | |||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 38.65 | (0.48 | ) | 1.88 | 1.40 | — | (4.29 | ) | — | (4.29 | ) | 35.76 | 1.87 | 1.88 | (1.32 | ) | 52 | 3.92 | 117 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 35.24 | (0.41 | ) | 5.74 | 5.33 | — | (1.92 | ) | — | (1.92 | ) | 38.65 | 1.89 | 1.89 | (1.12 | ) | 60 | 15.75 | 105 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 27.41 | (0.25 | ) | 9.22 | 8.97 | — | (1.14 | ) | — | (1.14 | ) | 35.24 | 1.92 | 1.92 | (0.80 | ) | 52 | 33.87 | 106 | ||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 59.29 | (0.03 | ) | 3.31 | 3.28 | — | (1.52 | ) | — | (1.52 | ) | 61.05 | 0.73 | 0.73 | (0.09 | ) | 14 | 5.58 | 934 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 44.30 | (0.11 | ) | 15.10 | 14.99 | — | (e) | — | — | — | (e) | 59.29 | 0.78 | 0.78 | (0.21 | ) | 44 | 33.84 | 763 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 45.26 | (0.02 | ) | (0.24 | ) | (0.26 | ) | — | (0.70 | ) | — | (0.70 | ) | 44.30 | 0.82 | 0.82 | (0.06 | ) | 34 | (0.52 | ) | 421 | |||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 47.33 | (0.13 | ) | 2.35 | 2.22 | — | (4.29 | ) | — | (4.29 | ) | 45.26 | 0.82 | 0.83 | (0.28 | ) | 52 | 5.02 | 358 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 42.31 | (0.05 | ) | 6.99 | 6.94 | — | (1.92 | ) | — | (1.92 | ) | 47.33 | 0.85 | 0.85 | (0.12 | ) | 60 | 16.97 | 210 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 32.36 | 0.08 | 11.01 | 11.09 | — | (1.14 | ) | — | (1.14 | ) | 42.31 | 0.87 | 0.87 | 0.22 | 52 | 35.28 | 126 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 54.88 | (0.19 | ) | 3.05 | 2.86 | — | (1.52 | ) | — | (1.52 | ) | 56.22 | 1.33 | 1.33 | (0.69 | ) | 14 | 5.26 | 34 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 41.25 | (0.39 | ) | 14.02 | 13.63 | — | — | — | — | 54.88 | 1.38 | 1.38 | (0.80 | ) | 44 | 33.04 | 32 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 42.46 | (0.28 | ) | (0.23 | ) | (0.51 | ) | — | (0.70 | ) | — | (0.70 | ) | 41.25 | 1.46 | 1.46 | (0.69 | ) | 34 | (1.16 | ) | 21 | |||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 44.90 | (0.37 | ) | 2.22 | 1.85 | — | (4.29 | ) | — | (4.29 | ) | 42.46 | 1.41 | 1.42 | (0.86 | ) | 52 | 4.42 | 24 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 40.48 | (0.31 | ) | 6.65 | 6.34 | — | (1.92 | ) | — | (1.92 | ) | 44.90 | 1.48 | 1.48 | (0.73 | ) | 60 | 16.23 | 16 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 31.19 | (0.14 | ) | 10.57 | 10.43 | — | (1.14 | ) | — | (1.14 | ) | 40.48 | 1.49 | 1.49 | (0.39 | ) | 52 | 34.46 | 12 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 59.14 | (0.03 | ) | 3.31 | 3.28 | — | (1.52 | ) | — | (1.52 | ) | 60.90 | 0.72 | 0.72 | (0.10 | ) | 14 | 5.60 | 508 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 44.19 | (0.11 | ) | 15.06 | 14.95 | — | (e) | — | — | — | (e) | 59.14 | 0.79 | 0.79 | (0.22 | ) | 44 | 33.84 | 284 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 45.15 | (0.03 | ) | (0.23 | ) | (0.26 | ) | — | (0.70 | ) | — | (0.70 | ) | 44.19 | 0.83 | 0.83 | (0.06 | ) | 34 | (0.52 | ) | 153 | |||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 47.28 | (0.13 | ) | 2.29 | 2.16 | — | (4.29 | ) | — | (4.29 | ) | 45.15 | 0.82 | 0.83 | (0.28 | ) | 52 | 4.89 | 133 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 42.27 | (0.06 | ) | 6.99 | 6.93 | — | (1.92 | ) | — | (1.92 | ) | 47.28 | 0.87 | 0.87 | (0.14 | ) | 60 | 16.96 | 55 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 32.34 | 0.09 | 10.98 | 11.07 | — | (1.14 | ) | — | (1.14 | ) | 42.27 | 0.89 | 0.89 | 0.24 | 52 | 35.24 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 59.62 | (0.01 | ) | 3.33 | 3.32 | — | (1.52 | ) | — | (1.52 | ) | 61.42 | 0.66 | 0.66 | (0.04 | ) | 14 | 5.62 | 1,125 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 44.51 | (0.07 | ) | 15.19 | 15.12 | (0.01 | ) | — | — | (0.01 | ) | 59.62 | 0.69 | 0.69 | (0.12 | ) | 44 | 33.97 | 692 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 45.43 | 0.02 | (0.24 | ) | (0.22 | ) | — | (0.70 | ) | — | (0.70 | ) | 44.51 | 0.72 | 0.72 | 0.04 | 34 | (0.43 | ) | 346 | |||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 47.44 | (0.10 | ) | 2.38 | 2.28 | — | (4.29 | ) | — | (4.29 | ) | 45.43 | 0.73 | 0.74 | (0.21 | ) | 52 | 5.15 | 190 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 42.36 | (0.05 | ) | 7.05 | 7.00 | — | (1.92 | ) | — | (1.92 | ) | 47.44 | 0.77 | 0.77 | (0.10 | ) | 60 | 17.10 | 30 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 32.37 | 0.02 | 11.11 | 11.13 | — | (1.14 | ) | — | (1.14 | ) | 42.36 | 0.78 | 0.78 | 0.05 | 52 | 35.40 | 7 | ||||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 60.71 | (0.18 | ) | 1.93 | 1.75 | — | (1.52 | ) | — | (1.52 | ) | 60.94 | 1.25 | 1.32 | (0.65 | ) | 14 | 2.93 | 0 |
The accompanying notes are an integral part of the financial statements. | 41 |
Table of Contents
Financial Highlights
Fiscal periods | From investment operations | Dividends & distributions |
| Ratios to average net asset (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning net asset value | Income (loss) | Realized & unrealized gain (loss) | Total | From investment income | From realized gains | From return of capital | Total | Ending net asset value | With expenses waived/ recovered (a) | Without expenses waived/ recovered (a) | Net income (loss) (a) | Portfolio turnover rate (%) (b) | Total return (%) (b)(c) | Ending net assets (millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Mid Cap Stock Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | $28.77 | $(0.05 | ) | $0.68 | $0.63 | $— | $(1.42 | ) | $— | $(1.42 | ) | $27.98 | 1.21 | 1.19 | (0.34 | ) | 22 | 2.13 | $157 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 25.38 | (0.11 | ) | 5.50 | 5.39 | — | (2.00 | ) | — | (2.00 | ) | 28.77 | 1.25 | 1.27 | (0.41 | ) | 16 | 22.40 | 114 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 28.35 | (0.11 | ) | 0.48 | 0.37 | — | (3.34 | ) | — | (3.34 | ) | 25.38 | 1.29 | 1.29 | (0.42 | ) | 44 | 2.06 | 118 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 30.05 | (0.12 | ) | 0.75 | 0.63 | — | (2.33 | ) | — | (2.33 | ) | 28.35 | 1.24 | 1.24 | (0.40 | ) | 56 | 2.07 | 147 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 30.48 | (0.13 | ) | 1.72 | 1.59 | — | (2.02 | ) | — | (2.02 | ) | 30.05 | 1.22 | 1.22 | (0.43 | ) | 32 | 5.51 | 171 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 27.14 | (0.04 | ) | 7.40 | 7.36 | — | (4.02 | ) | — | (4.02 | ) | 30.48 | 1.22 | 1.22 | (0.14 | ) | 27 | 30.90 | 208 | ||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 21.29 | (0.10 | ) | 0.49 | 0.39 | — | (1.42 | ) | — | (1.42 | ) | 20.26 | 2.00 | 1.98 | (1.00 | ) | 22 | 1.73 | 26 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 19.40 | (0.23 | ) | 4.12 | 3.89 | — | (2.00 | ) | — | (2.00 | ) | 21.29 | 2.01 | 2.03 | (1.16 | ) | 16 | 21.50 | 82 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 22.64 | (0.23 | ) | 0.33 | 0.10 | — | (3.34 | ) | — | (3.34 | ) | 19.40 | 2.04 | 2.04 | (1.17 | ) | 44 | 1.28 | 90 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 24.62 | (0.27 | ) | 0.62 | 0.35 | — | (2.33 | ) | — | (2.33 | ) | 22.64 | 1.99 | 1.99 | (1.16 | ) | 56 | 1.32 | 109 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 25.52 | (0.28 | ) | 1.40 | 1.12 | — | (2.02 | ) | — | (2.02 | ) | 24.62 | 1.96 | 1.96 | (1.17 | ) | 32 | 4.69 | 124 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 23.49 | (0.21 | ) | 6.26 | 6.05 | — | (4.02 | ) | — | (4.02 | ) | 25.52 | 1.95 | 1.95 | (0.90 | ) | 27 | 30.00 | 138 | ||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 30.40 | (— | ) | 0.71 | 0.71 | — | (1.42 | ) | — | (1.42 | ) | 29.69 | 0.95 | 0.94 | (0.03 | ) | 22 | 2.28 | 56 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 26.64 | (0.04 | ) | 5.80 | 5.76 | — | (2.00 | ) | — | (2.00 | ) | 30.40 | 0.95 | 0.96 | (0.12 | ) | 16 | 22.75 | 61 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 29.50 | (0.02 | ) | 0.50 | 0.48 | — | (3.34 | ) | — | (3.34 | ) | 26.64 | 0.95 | 0.99 | (0.08 | ) | 44 | 2.39 | 45 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 31.09 | (0.03 | ) | 0.77 | 0.74 | — | (2.33 | ) | — | (2.33 | ) | 29.50 | 0.95 | 1.06 | (0.10 | ) | 56 | 2.37 | 51 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 31.39 | (0.05 | ) | 1.77 | 1.72 | — | (2.02 | ) | — | (2.02 | ) | 31.09 | 0.95 | 1.10 | (0.16 | ) | 32 | 5.78 | 87 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 27.76 | 0.03 | 7.62 | 7.65 | — | (4.02 | ) | — | (4.02 | ) | 31.39 | 0.95 | 1.12 | 0.11 | 27 | 31.31 | 98 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 27.60 | (0.08 | ) | 0.65 | 0.57 | — | (1.42 | ) | — | (1.42 | ) | 26.75 | 1.50 | 1.53 | (0.58 | ) | 22 | 1.99 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 24.48 | (0.16 | ) | 5.28 | 5.12 | — | (2.00 | ) | — | (2.00 | ) | 27.60 | 1.50 | 1.58 | (0.64 | ) | 16 | 22.10 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 27.55 | (0.17 | ) | 0.44 | 0.27 | — | (3.34 | ) | — | (3.34 | ) | 24.48 | 1.58 | 1.58 | (0.71 | ) | 44 | 1.72 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 29.36 | (0.21 | ) | 0.73 | 0.52 | — | (2.33 | ) | — | (2.33 | ) | 27.55 | 1.59 | 1.59 | (0.73 | ) | 56 | 1.71 | 2 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 29.92 | (0.21 | ) | 1.67 | 1.46 | — | (2.02 | ) | — | (2.02 | ) | 29.36 | 1.53 | 1.53 | (0.73 | ) | 32 | 5.16 | 5 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 26.78 | (0.13 | ) | 7.29 | 7.16 | — | (4.02 | ) | — | (4.02 | ) | 29.92 | 1.52 | 1.52 | (0.48 | ) | 27 | 30.53 | 6 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 30.58 | (— | ) | 0.71 | 0.71 | — | (1.42 | ) | — | (1.42 | ) | 29.87 | 0.95 | 1.03 | (0.02 | ) | 22 | 2.27 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 26.79 | (0.03 | ) | 5.82 | 5.79 | — | (2.00 | ) | — | (2.00 | ) | 30.58 | 0.95 | 1.06 | (0.11 | ) | 16 | 22.74 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 29.65 | (0.02 | ) | 0.50 | 0.48 | — | (3.34 | ) | — | (3.34 | ) | 26.79 | 0.95 | 1.07 | (0.08 | ) | 44 | 2.38 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 31.24 | (0.03 | ) | 0.77 | 0.74 | — | (2.33 | ) | — | (2.33 | ) | 29.65 | 0.95 | 0.99 | (0.10 | ) | 56 | 2.36 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 31.53 | (0.05 | ) | 1.78 | 1.73 | — | (2.02 | ) | — | (2.02 | ) | 31.24 | 0.94 | 0.94 | (0.16 | ) | 32 | 5.79 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 27.77 | 0.19 | 7.59 | 7.78 | — | (4.02 | ) | — | (4.02 | ) | 31.53 | 0.84 | 0.84 | 0.69 | 27 | 31.84 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 30.72 | 0.01 | 0.72 | 0.73 | — | (1.42 | ) | — | (1.42 | ) | 30.03 | 0.85 | 0.86 | 0.07 | 22 | 2.32 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 26.87 | (0.01 | ) | 5.86 | 5.85 | — | (2.00 | ) | — | (2.00 | ) | 30.72 | 0.85 | 0.87 | (0.02 | ) | 16 | 22.90 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 29.70 | 0.01 | 0.50 | 0.51 | — | (3.34 | ) | — | (3.34 | ) | 26.87 | 0.85 | 0.87 | 0.02 | 44 | 2.48 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 31.25 | — | (e) | 0.78 | 0.78 | — | (2.33 | ) | — | (2.33 | ) | 29.70 | 0.83 | 0.84 | 0.01 | 56 | 2.49 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 31.50 | (0.01 | ) | 1.78 | 1.77 | — | (2.02 | ) | — | (2.02 | ) | 31.25 | 0.82 | 0.82 | (0.04 | ) | 32 | 5.93 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 27.81 | (0.02 | ) | 7.73 | 7.71 | — | (4.02 | ) | — | (4.02 | ) | 31.50 | 0.79 | 0.79 | (0.08 | ) | 27 | 31.49 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 30.66 | (0.05 | ) | 0.46 | 0.41 | — | (1.42 | ) | — | (1.42 | ) | 29.65 | 1.25 | 1.76 | (0.40 | ) | 22 | 1.28 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Small Cap Growth Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 62.31 | (0.17 | ) | 3.02 | 2.85 | — | (4.83 | ) | — | (4.83 | ) | 60.33 | 1.08 | 1.08 | (0.55 | ) | 14 | 4.66 | 634 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 50.48 | (0.27 | ) | 13.72 | 13.45 | — | (1.62 | ) | — | (1.62 | ) | 62.31 | 1.13 | 1.13 | (0.47 | ) | 40 | 27.22 | 640 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 52.98 | (0.33 | ) | 1.29 | 0.96 | — | (3.46 | ) | — | (3.46 | ) | 50.48 | 1.15 | 1.15 | (0.66 | ) | 32 | 2.07 | 848 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 57.57 | (0.33 | ) | 2.22 | 1.89 | — | (6.48 | ) | — | (6.48 | ) | 52.98 | 1.10 | 1.10 | (0.60 | ) | 45 | 3.23 | 711 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 54.33 | (0.34 | ) | 4.27 | 3.93 | — | (0.69 | ) | — | (0.69 | ) | 57.57 | 1.11 | 1.11 | (0.61 | ) | 37 | 7.30 | 759 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 41.13 | (0.16 | ) | 13.36 | 13.20 | — | — | — | — | 54.33 | 1.10 | 1.10 | (0.33 | ) | 38 | 32.09 | 999 |
42 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Financial Highlights
Fiscal periods | From investment operations | Dividends & distributions |
| Ratios to average net asset (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning net asset value | Income (loss) | Realized & unrealized gain (loss) | Total | From investment income | From realized gains | From return of capital | Total | Ending net asset value | With expenses waived/ recovered (a) | Without expenses waived/ recovered (a) | Net income (loss) (a) | Portfolio turnover rate (%) (b) | Total return (%) (b)(c) | Ending net assets (millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Small Cap Growth Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | $ 47.51 | $ (0.28 | ) | $ 2.28 | $ 2.00 | $ — | $ (4.83 | ) | $ — | $ (4.83 | ) | $ 44.68 | 1.76 | 1.76 | (1.22 | ) | 14 | 4.29 | $ 126 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 39.10 | (0.51 | ) | 10.54 | 10.03 | — | (1.62 | ) | — | (1.62 | ) | 47.51 | 1.82 | 1.82 | (1.17 | ) | 40 | 26.37 | 169 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 42.10 | (0.52 | ) | 0.98 | 0.46 | — | (3.46 | ) | — | (3.46 | ) | 39.10 | 1.85 | 1.85 | (1.36 | ) | 32 | 1.37 | 166 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 47.33 | (0.59 | ) | 1.84 | 1.25 | — | (6.48 | ) | — | (6.48 | ) | 42.10 | 1.82 | 1.82 | (1.32 | ) | 45 | 2.49 | 186 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 45.11 | (0.61 | ) | 3.52 | 2.91 | — | (0.69 | ) | — | (0.69 | ) | 47.33 | 1.82 | 1.82 | (1.32 | ) | 37 | 6.52 | 190 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 34.40 | (0.42 | ) | 11.13 | 10.71 | — | — | — | — | 45.11 | 1.82 | 1.82 | (1.05 | ) | 38 | 31.13 | 189 | ||||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 65.18 | (0.07 | ) | 3.16 | 3.09 | — | (4.83 | ) | — | (4.83 | ) | 63.44 | 0.75 | 0.75 | (0.21 | ) | 14 | 4.83 | 1,615 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 52.55 | (0.08 | ) | 14.33 | 14.25 | — | (1.62 | ) | — | (1.62 | ) | 65.18 | 0.78 | 0.78 | (0.13 | ) | 40 | 27.68 | 1,691 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 54.84 | (0.16 | ) | 1.33 | 1.17 | — | (3.46 | ) | — | (3.46 | ) | 52.55 | 0.81 | 0.81 | (0.32 | ) | 32 | 2.40 | 1,374 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 59.19 | (0.16 | ) | 2.29 | 2.13 | — | (6.48 | ) | — | (6.48 | ) | 54.84 | 0.78 | 0.78 | (0.28 | ) | 45 | 3.58 | 1,757 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 55.68 | (0.16 | ) | 4.36 | 4.20 | — | (0.69 | ) | — | (0.69 | ) | 59.19 | 0.78 | 0.78 | (0.29 | ) | 37 | 7.61 | 1,770 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 42.04 | (0.01 | ) | 13.67 | 13.66 | (0.02 | ) | — | — | (0.02 | ) | 55.68 | 0.79 | 0.79 | (0.01 | ) | 38 | 32.49 | 1,815 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 60.51 | (0.23 | ) | 2.92 | 2.69 | — | (4.83 | ) | — | (4.83 | ) | 58.37 | 1.31 | 1.31 | (0.77 | ) | 14 | 4.52 | 91 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 49.18 | (0.40 | ) | 13.35 | 12.95 | — | (1.62 | ) | — | (1.62 | ) | 60.51 | 1.38 | 1.38 | (0.73 | ) | 40 | 26.92 | 98 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 51.82 | (0.43 | ) | 1.25 | 0.82 | — | (3.46 | ) | — | (3.46 | ) | 49.18 | 1.39 | 1.39 | (0.90 | ) | 32 | 1.83 | 94 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 56.59 | (0.48 | ) | 2.19 | 1.71 | — | (6.48 | ) | — | (6.48 | ) | 51.82 | 1.38 | 1.38 | (0.88 | ) | 45 | 2.94 | 119 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 53.58 | (0.50 | ) | 4.20 | 3.70 | — | (0.69 | ) | — | (0.69 | ) | 56.59 | 1.42 | 1.42 | (0.92 | ) | 37 | 6.97 | 127 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 40.68 | (0.29 | ) | 13.19 | 12.90 | — | — | — | — | 53.58 | 1.37 | 1.37 | (0.62 | ) | 38 | 31.71 | 134 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 65.45 | (0.07 | ) | 3.16 | 3.09 | — | (4.83 | ) | — | (4.83 | ) | 63.71 | 0.76 | 0.76 | (0.21 | ) | 14 | 4.81 | 447 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 52.75 | (0.07 | ) | 14.39 | 14.32 | — | (1.62 | ) | — | (1.62 | ) | 65.45 | 0.77 | 0.77 | (0.11 | ) | 40 | 27.71 | 469 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 55.02 | (0.15 | ) | 1.34 | 1.19 | — | (3.46 | ) | — | (3.46 | ) | 52.75 | 0.78 | 0.78 | (0.30 | ) | 32 | 2.43 | 444 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 59.37 | (0.15 | ) | 2.28 | 2.13 | — | (6.48 | ) | — | (6.48 | ) | 55.02 | 0.75 | 0.75 | (0.25 | ) | 45 | 3.57 | 418 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 55.83 | (0.16 | ) | 4.39 | 4.23 | — | (0.69 | ) | — | (0.69 | ) | 59.37 | 0.77 | 0.77 | (0.28 | ) | 37 | 7.64 | 348 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 42.14 | 0.01 | 13.69 | 13.70 | (0.01 | ) | — | — | (0.01 | ) | 55.83 | 0.77 | 0.77 | 0.02 | 38 | 32.51 | 341 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 65.92 | (0.04 | ) | 3.20 | 3.16 | — | (4.83 | ) | — | (4.83 | ) | 64.25 | 0.65 | 0.65 | (0.12 | ) | 14 | 4.88 | 2,257 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 53.06 | (0.04 | ) | 14.52 | 14.48 | — | (1.62 | ) | — | (1.62 | ) | 65.92 | 0.66 | 0.66 | (0.06 | ) | 40 | 27.86 | 2,005 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 55.27 | (0.10 | ) | 1.35 | 1.25 | — | (3.46 | ) | — | (3.46 | ) | 53.06 | 0.67 | 0.67 | (0.19 | ) | 32 | 2.53 | 1,139 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 59.55 | (0.10 | ) | 2.30 | 2.20 | — | (6.48 | ) | — | (6.48 | ) | 55.27 | 0.66 | 0.66 | (0.17 | ) | 45 | 3.68 | 737 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 55.92 | (0.10 | ) | 4.42 | 4.32 | — | (0.69 | ) | — | (0.69 | ) | 59.55 | 0.66 | 0.66 | (0.17 | ) | 37 | 7.79 | 576 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 42.20 | 0.03 | 13.74 | 13.77 | (0.05 | ) | — | — | (0.05 | ) | 55.92 | 0.68 | 0.68 | 0.07 | 38 | 32.68 | 502 | ||||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 65.89 | (0.20 | ) | 2.44 | 2.24 | — | (4.83 | ) | — | (4.83 | ) | 63.30 | 1.25 | 1.50 | (0.71 | ) | 14 | 3.47 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Smaller Company Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 14.94 | (0.01 | ) | 0.59 | 0.58 | — | (1.42 | ) | — | (1.42 | ) | 14.10 | 1.25 | 1.83 | (0.19 | ) | 102 | (f) | 3.92 | 14 | |||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 13.01 | (0.04 | ) | 3.24 | 3.20 | — | (1.27 | ) | — | (1.27 | ) | 14.94 | 1.31 | 1.88 | (0.31 | ) | 35 | 26.11 | 16 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 12.32 | (0.05 | ) | 0.74 | 0.69 | — | — | — | — | 13.01 | 1.43 | 1.83 | (0.38 | ) | 46 | 5.60 | 15 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 23.65 | (0.10 | ) | 0.08 | (0.02 | ) | — | (11.31 | ) | — | (11.31 | ) | 12.32 | 1.41 | 1.60 | (0.70 | ) | 79 | (1.88 | ) | 20 | ||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 23.38 | (0.09 | ) | 0.87 | 0.78 | — | (0.51 | ) | — | (0.51 | ) | 23.65 | 1.38 | 1.36 | (0.38 | ) | 68 | (g) | 3.34 | 18 | |||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 18.93 | (0.03 | ) | 5.96 | 5.93 | (0.09 | ) | (1.39 | ) | — | (1.48 | ) | 23.38 | 1.37 | 1.40 | (0.13 | ) | 14 | 33.60 | 19 | |||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 13.04 | (0.06 | ) | 0.52 | 0.46 | — | (1.42 | ) | — | (1.42 | ) | 12.08 | 2.00 | 2.52 | (0.94 | ) | 102 | (f) | 3.54 | 16 | |||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 11.59 | (0.13 | ) | 2.85 | 2.72 | — | (1.27 | ) | — | (1.27 | ) | 13.04 | 2.05 | 2.59 | (1.05 | ) | 35 | 25.07 | 18 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 11.05 | (0.12 | ) | 0.66 | 0.54 | — | — | — | — | 11.59 | 2.16 | 2.57 | (1.12 | ) | 46 | 4.89 | 17 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 22.46 | (0.18 | ) | 0.08 | (0.10 | ) | — | (11.31 | ) | — | (11.31 | ) | 11.05 | 2.17 | 2.35 | (1.49 | ) | 79 | (2.64 | ) | 21 | ||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 22.38 | (0.25 | ) | 0.84 | 0.59 | — | (0.51 | ) | — | (0.51 | ) | 22.46 | 2.11 | 2.09 | (1.11 | ) | 68 | (g) | 2.63 | 11 | |||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 18.22 | (0.18 | ) | 5.73 | 5.55 | — | (1.39 | ) | — | (1.39 | ) | 22.38 | 2.12 | 2.14 | (0.88 | ) | 14 | 32.62 | 11 |
The accompanying notes are an integral part of the financial statements. | 43 |
Table of Contents
Financial Highlights
Fiscal periods | From investment operations | Dividends & distributions |
| Ratios to average net asset (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning net asset value | Income (loss) | Realized & unrealized gain (loss) | Total | From investment income | From realized gains | From return of capital | Total | Ending net asset value | With expenses waived/ recovered (a) | Without expenses waived/ recovered (a) | Net income (loss) (a) | Portfolio turnover rate (%) (b) | Total return (%) (b)(c) | Ending net assets (millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Smaller Company Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | $ 16.08 | $ 0.01 | $ 0.65 | $ 0.66 | $ — | $ (1.42 | ) | $ — | $ (1.42 | ) | $ 15.32 | 0.95 | 1.53 | 0.11 | 102 | (f) | 4.15 | $ 7 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 13.87 | 0.01 | 3.47 | 3.48 | — | (1.27 | ) | — | (1.27 | ) | 16.08 | 0.95 | 1.56 | 0.06 | 35 | 26.53 | 9 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 13.07 | 0.02 | 0.78 | 0.80 | — | — | — | — | 13.87 | 0.95 | 1.52 | 0.13 | 46 | 6.12 | 9 | ||||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 24.27 | (0.03 | ) | 0.14 | 0.11 | — | (11.31 | ) | — | (11.31 | ) | 13.07 | 0.95 | 1.27 | (0.17 | ) | 79 | (0.99 | ) | 15 | |||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 23.86 | 0.02 | 0.91 | 0.93 | (0.01 | ) | (0.51 | ) | — | (0.52 | ) | 24.27 | 0.95 | 1.10 | 0.10 | 68 | (g) | 3.93 | 33 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 19.28 | 0.06 | 6.07 | 6.13 | (0.16 | ) | (1.39 | ) | — | (1.55 | ) | 23.86 | 0.95 | 1.16 | 0.27 | 14 | 34.20 | 106 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 14.38 | (0.03 | ) | 0.57 | 0.54 | — | (1.42 | ) | — | (1.42 | ) | 13.50 | 1.50 | 2.09 | (0.46 | ) | 102 | (f) | 3.79 | 1 | |||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 12.60 | (0.08 | ) | 3.13 | 3.05 | — | (1.27 | ) | — | (1.27 | ) | 14.38 | 1.56 | 2.15 | (0.58 | ) | 35 | 25.74 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 11.96 | (0.08 | ) | 0.72 | 0.64 | — | — | — | — | 12.60 | 1.70 | 2.19 | (0.65 | ) | 46 | 5.35 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 23.33 | (0.13 | ) | 0.07 | (0.06 | ) | — | (11.31 | ) | — | (11.31 | ) | 11.96 | 1.70 | 2.07 | (0.94 | ) | 79 | (2.19 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 23.12 | (0.17 | ) | 0.89 | 0.72 | — | (0.51 | ) | — | (0.51 | ) | 23.33 | 1.70 | 1.77 | (0.72 | ) | 68 | (g) | 3.11 | 0 | |||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 18.77 | (0.08 | ) | 5.89 | 5.81 | (0.07 | ) | (1.39 | ) | — | (1.46 | ) | 23.12 | 1.70 | 1.85 | (0.40 | ) | 14 | 33.17 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 15.88 | 0.01 | 0.64 | 0.65 | — | (1.42 | ) | — | (1.42 | ) | 15.11 | 0.95 | 1.62 | 0.09 | 102 | (f) | 4.14 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 13.71 | 0.01 | 3.43 | 3.44 | — | (1.27 | ) | — | (1.27 | ) | 15.88 | 0.95 | 1.63 | 0.04 | 35 | 26.55 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 12.93 | (0.01 | ) | 0.79 | 0.78 | — | — | — | — | 13.71 | 0.95 | 1.67 | (0.08 | ) | 46 | 6.03 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 24.20 | (0.03 | ) | 0.07 | 0.04 | — | (11.31 | ) | — | (11.31 | ) | 12.93 | 0.95 | 1.14 | (0.24 | ) | 79 | (1.41 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 23.82 | 0.04 | 0.87 | 0.91 | (0.02 | ) | (0.51 | ) | — | (0.53 | ) | 24.20 | 0.95 | 1.04 | 0.18 | 68 | (g) | 3.85 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 19.25 | (0.02 | ) | 6.15 | 6.13 | (0.17 | ) | (1.39 | ) | — | (1.56 | ) | 23.82 | 0.95 | 1.00 | (0.11 | ) | 14 | 34.25 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 15.97 | 0.01 | 0.65 | 0.66 | — | (1.42 | ) | — | (1.42 | ) | 15.21 | 0.85 | 1.40 | 0.19 | 102 | (f) | 4.19 | 3 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 13.77 | 0.02 | 3.45 | 3.47 | — | (1.27 | ) | — | (1.27 | ) | 15.97 | 0.85 | 1.41 | 0.14 | 35 | 26.66 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/15 | 10/31/16 | 12.96 | 0.04 | 0.77 | 0.81 | — | — | — | — | 13.77 | 0.85 | 1.31 | 0.32 | 46 | 6.25 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||
11/01/14 | 10/31/15 | 24.22 | (0.01 | ) | 0.06 | 0.05 | — | (11.31 | ) | — | (11.31 | ) | 12.96 | 0.85 | 1.20 | (0.07 | ) | 79 | (1.33 | ) | 10 | |||||||||||||||||||||||||||||||||||||||||||
11/01/13 | 10/31/14 | 23.86 | 0.03 | 0.87 | 0.90 | (0.03 | ) | (0.51 | ) | — | (0.54 | ) | 24.22 | 0.85 | 0.94 | 0.13 | 68 | (g) | 3.78 | 25 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/12 | 10/31/13 | 19.28 | 0.01 | 6.14 | 6.15 | (0.18 | ) | (1.39 | ) | — | (1.57 | ) | 23.86 | 0.85 | 0.96 | 0.04 | 14 | 34.33 | 18 | |||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 16.19 | (0.02 | ) | 0.54 | 0.52 | — | (1.42 | ) | — | (1.42 | ) | 15.29 | 1.25 | 2.36 | (0.23 | ) | 102 | (f) | 3.25 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Carillon Scout International Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 25.05 | 0.31 | 0.07 | 0.38 | (0.22 | ) | (3.76 | ) | — | (3.98 | ) | 21.45 | 1.45 | 1.48 | 3.19 | 4 | 1.61 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 25.05 | 0.16 | 0.15 | 0.31 | (0.20 | ) | (3.76 | ) | — | (3.96 | ) | 21.40 | 2.20 | 2.20 | 1.62 | 4 | 1.29 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 25.18 | 0.20 | 0.08 | 0.28 | (0.22 | ) | (3.76 | ) | — | (3.98 | ) | 21.48 | 1.06 | 1.06 | 1.80 | 4 | 1.24 | 1,025 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/17 | 10/31/17 | 23.21 | 0.07 | 1.90 | 1.97 | — | — | — | — | 25.18 | 1.08 | 1.08 | 0.81 | 7 | 8.49 | 1,161 | ||||||||||||||||||||||||||||||||||||||||||||||||
07/01/16 | 06/30/17 | 23.10 | 0.37 | 3.50 | 3.87 | (0.42 | ) | (3.34 | ) | — | (3.76 | ) | 23.21 | 1.06 | 1.06 | 1.61 | 20 | 18.80 | 1,186 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/15 | 06/30/16 | 33.69 | 0.56 | (3.41 | ) | (2.85 | ) | (0.59 | ) | (7.15 | ) | — | (7.74 | ) | 23.10 | 1.05 | 1.05 | 1.38 | 23 | (7.89 | ) | 1,484 | ||||||||||||||||||||||||||||||||||||||||||
07/01/14 | 06/30/15 | 37.81 | 0.65 | (1.59 | ) | (0.94 | ) | (0.60 | ) | (2.58 | ) | — | (3.18 | ) | 33.69 | 1.02 | 1.02 | 1.48 | 17 | (2.22 | ) | 4,775 | ||||||||||||||||||||||||||||||||||||||||||
07/01/13 | 06/30/14 | 33.52 | 0.50 | 4.29 | 4.79 | (0.50 | ) | — | — | (0.50 | ) | 37.81 | 1.01 | 1.01 | 1.23 | 12 | 14.30 | 8,580 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/12 | 06/30/13 | 29.24 | 0.44 | 4.49 | 4.93 | (0.65 | ) | — | — | (0.65 | ) | 33.52 | 1.01 | 1.01 | 1.39 | 31 | 16.86 | 9,202 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 25.05 | 0.13 | 0.23 | 0.36 | (0.22 | ) | (3.76 | ) | — | (3.98 | ) | 21.43 | 1.70 | 1.93 | 1.29 | 4 | 1.49 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 25.05 | 0.18 | 0.23 | 0.41 | (0.23 | ) | (3.76 | ) | — | (3.99 | ) | 21.47 | 1.15 | 1.43 | 1.84 | 4 | 1.74 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 25.05 | 0.19 | 0.23 | 0.42 | (0.23 | ) | (3.76 | ) | — | (3.99 | ) | 21.48 | 1.05 | 1.43 | 1.94 | 4 | 1.79 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 25.05 | 0.15 | 0.23 | 0.38 | (0.22 | ) | (3.76 | ) | — | (3.98 | ) | 21.45 | 1.45 | 1.70 | 1.56 | 4 | 1.61 | 0 |
44 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Financial Highlights
Fiscal periods | From investment operations | Dividends & distributions |
| Ratios to average net asset (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning net asset value | Income (loss) | Realized & unrealized gain (loss) | Total | From investment income | From realized gains | From return of capital | Total | Ending net asset value | With expenses waived/ recovered (a) | Without expenses waived/ recovered (a) | Net income (loss) (a) | Portfolio turnover rate (%) (b) | Total return (%) (b)(c) | Ending net assets (millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carillon Scout Mid Cap Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | $ 20.18 | $ 0.01 | $ 0.29 | $ 0.30 | $ (0.02 | ) | $ (1.54 | ) | $ — | $ (1.56 | ) | $ 18.92 | 1.16 | 1.16 | 0.10 | 45 | 1.44 | $ 1 | |||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 20.18 | (0.05 | ) | 0.29 | 0.24 | (0.01 | ) | (1.54 | ) | — | (1.55 | ) | 18.87 | 1.91 | 1.91 | (0.63 | ) | 45 | 1.11 | 2 | |||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 19.77 | 0.03 | 0.70 | 0.73 | (0.02 | ) | (1.54 | ) | — | (1.56 | ) | 18.94 | 0.96 | 0.96 | 0.33 | 45 | 3.64 | 2,104 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/17 | 10/31/17 | 18.11 | — | (e) | 1.66 | 1.66 | — | — | — | — | 19.77 | 1.01 | 1.01 | 0.03 | 20 | 9.17 | 1,675 | |||||||||||||||||||||||||||||||||||||||||||||||
07/01/16 | 06/30/17 | 15.06 | 0.07 | 3.35 | 3.42 | (0.07 | ) | (0.30 | ) | — | (0.37 | ) | 18.11 | 1.03 | 1.03 | 0.43 | 87 | 22.93 | 1,437 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/15 | 06/30/16 | 16.02 | 0.21 | 0.13 | 0.34 | (0.17 | ) | (1.13 | ) | — | (1.30 | ) | 15.06 | 1.04 | 1.04 | 1.34 | 161 | 2.69 | 1,292 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/14 | 06/30/15 | 18.79 | 0.03 | 0.30 | 0.33 | (0.02 | ) | (3.08 | ) | — | (3.10 | ) | 16.02 | 1.04 | 1.04 | 0.17 | 158 | 2.42 | 1,585 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/13 | 06/30/14 | 15.75 | — | (e) | 3.99 | 3.99 | — | (e) | (0.95 | ) | — | (0.95 | ) | 18.79 | 1.02 | 1.02 | 0.01 | 134 | 25.75 | 2,538 | ||||||||||||||||||||||||||||||||||||||||||||
07/01/12 | 06/30/13 | 13.25 | 0.14 | 2.67 | 2.81 | (0.11 | ) | (0.20 | ) | — | (0.31 | ) | 15.75 | 1.07 | 1.07 | 0.97 | 127 | 21.53 | 1,601 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 20.18 | (0.06 | ) | 0.32 | 0.26 | (0.01 | ) | (1.54 | ) | — | (1.55 | ) | 18.89 | 1.52 | 1.52 | (0.64 | ) | 45 | 1.22 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 20.18 | 0.01 | 0.30 | 0.31 | (0.03 | ) | (1.54 | ) | — | (1.57 | ) | 18.92 | 1.15 | 1.35 | 0.16 | 45 | 1.44 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 20.18 | 0.04 | 0.28 | 0.32 | (0.03 | ) | (1.54 | ) | — | (1.57 | ) | 18.93 | 0.96 | 0.96 | 0.46 | 45 | 1.49 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 20.18 | — | (e) | 0.30 | 0.30 | (0.02 | ) | (1.54 | ) | — | (1.56 | ) | 18.92 | 1.22 | 1.22 | 0.04 | 45 | 1.43 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Carillon Scout Small Cap Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 29.63 | (0.09 | ) | 1.13 | 1.04 | — | (2.76 | ) | — | (2.76 | ) | 27.91 | 1.25 | 1.29 | (0.71 | ) | 12 | 3.40 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 29.63 | (0.18 | ) | 1.13 | 0.95 | — | (2.76 | ) | — | (2.76 | ) | 27.82 | 2.00 | 2.05 | (1.42 | ) | 12 | 3.07 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 29.33 | (0.05 | ) | 1.43 | 1.38 | — | (2.76 | ) | — | (2.76 | ) | 27.95 | 0.96 | 1.01 | (0.32 | ) | 12 | 4.60 | 262 | ||||||||||||||||||||||||||||||||||||||||||||
07/01/17 | 10/31/17 | 26.81 | (0.04 | ) | 2.56 | 2.52 | — | — | — | — | 29.33 | 1.03 | 1.03 | (0.45 | ) | 6 | 9.40 | 271 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/16 | 06/30/17 | 21.45 | (0.09 | ) | 6.52 | 6.43 | — | (1.07 | ) | — | (1.07 | ) | 26.81 | 1.04 | 1.04 | (0.39 | ) | 25 | 30.70 | 242 | ||||||||||||||||||||||||||||||||||||||||||||
07/01/15 | 06/30/16 | 26.61 | (0.07 | ) | (1.55 | ) | (1.62 | ) | — | (3.54 | ) | — | (3.54 | ) | 21.45 | 1.13 | 1.13 | (0.32 | ) | 16 | (6.01 | ) | 198 | |||||||||||||||||||||||||||||||||||||||||
07/01/14 | 06/30/15 | 24.49 | (0.07 | ) | 2.37 | 2.30 | — | (0.18 | ) | — | (0.18 | ) | 26.61 | 1.12 | 1.12 | (0.27 | ) | 22 | 9.44 | 249 | ||||||||||||||||||||||||||||||||||||||||||||
07/01/13 | 06/30/14 | 20.55 | (0.04 | ) | 3.98 | 3.94 | — | — | — | — | 24.49 | 1.12 | 1.12 | (0.15 | ) | 17 | 19.17 | 251 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/12 | 06/30/13 | 15.82 | 0.02 | 4.77 | 4.79 | (0.06 | ) | — | — | (0.06 | ) | 20.55 | 1.13 | 1.13 | 0.14 | 23 | 30.39 | 244 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 29.63 | (0.11 | ) | 1.12 | 1.01 | — | (2.76 | ) | — | (2.76 | ) | 27.88 | 1.50 | 1.86 | (0.86 | ) | 12 | 3.29 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 29.63 | (0.04 | ) | 1.12 | 1.08 | — | (2.76 | ) | — | (2.76 | ) | 27.95 | 0.95 | 1.36 | (0.31 | ) | 12 | 3.54 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 29.63 | (0.03 | ) | 1.12 | 1.09 | — | (2.76 | ) | — | (2.76 | ) | 27.96 | 0.85 | 1.36 | (0.21 | ) | 12 | 3.58 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 29.63 | (0.08 | ) | 1.12 | 1.04 | — | (2.76 | ) | — | (2.76 | ) | 27.91 | 1.25 | 1.66 | (0.64 | ) | 12 | 3.40 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Carillon Reams Core Bond Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 11.42 | 0.09 | (0.29 | ) | (0.20 | ) | (0.08 | ) | — | — | (0.08 | ) | 11.14 | 0.80 | 1.16 | 1.77 | 193 | (1.74 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 11.42 | 0.05 | (0.28 | ) | (0.23 | ) | (0.06 | ) | — | — | (0.06 | ) | 11.13 | 1.55 | 1.92 | 1.01 | 193 | (2.04 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 11.40 | 0.11 | (0.27 | ) | (0.16 | ) | (0.09 | ) | — | — | (0.09 | ) | 11.15 | 0.40 | 0.84 | 1.94 | 193 | (1.39 | ) | 115 | |||||||||||||||||||||||||||||||||||||||||||
07/01/17 | 10/31/17 | 11.37 | 0.07 | 0.03 | 0.10 | (0.07 | ) | — | — | (0.07 | ) | 11.40 | 0.40 | 0.69 | 1.65 | 126 | 0.85 | 141 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/16 | 06/30/17 | 11.90 | 0.15 | (0.24 | ) | (0.09 | ) | (0.19 | ) | (0.25 | ) | — | (0.44 | ) | 11.37 | 0.40 | 0.66 | 1.30 | 390 | (0.71 | ) | 166 | ||||||||||||||||||||||||||||||||||||||||||
07/01/15 | 06/30/16 | 11.42 | 0.18 | 0.49 | 0.67 | (0.19 | ) | — | — | (0.19 | ) | 11.90 | 0.40 | 0.62 | 1.62 | 453 | 6.00 | 204 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/14 | 06/30/15 | 11.50 | 0.14 | (0.07 | ) | 0.07 | (0.15 | ) | — | — | (0.15 | ) | 11.42 | 0.40 | 0.61 | 1.21 | 158 | 0.61 | 210 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/13 | 06/30/14 | 11.41 | 0.15 | 0.15 | 0.30 | (0.17 | ) | (0.04 | ) | — | (0.21 | ) | 11.50 | 0.40 | 0.62 | 1.32 | 636 | 2.65 | 219 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/12 | 06/30/13 | 11.61 | 0.13 | 0.01 | 0.14 | (0.15 | ) | (0.19 | ) | — | (0.34 | ) | 11.41 | 0.40 | 0.64 | 1.13 | 607 | 1.20 | 259 |
The accompanying notes are an integral part of the financial statements. | 45 |
Table of Contents
Financial Highlights
Fiscal periods | From investment operations | Dividends & distributions |
| Ratios to average net asset (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning net asset value | Income (loss) | Realized & unrealized gain (loss) | Total | From investment income | From realized gains | From return of capital | Total | Ending net asset value | With expenses waived/ recovered (a) | Without expenses waived/ recovered (a) | �� | Net income (loss) (a) | Portfolio turnover rate (%) (b) | Total return (%) (b)(c) | Ending net assets (millions) | |||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carillon Reams Core Bond Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | $11.42 | $ 0.07 | $ (0.27 | ) | $ (0.20 | ) | $ (0.07 | ) | $ — | $ — | $ (0.07 | ) | $ 11.15 | 1.05 | 1.71 | 1.34 | 193 | (1.79 | ) | $ 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 11.42 | 0.09 | (0.27 | ) | (0.18 | ) | (0.09 | ) | — | — | (0.09 | ) | 11.15 | 0.50 | 1.23 | 1.89 | 193 | (1.60 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 11.42 | 0.10 | (0.28 | ) | (0.18 | ) | (0.09 | ) | — | — | (0.09 | ) | 11.15 | 0.40 | 1.23 | 1.99 | 193 | (1.56 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 11.40 | 0.09 | (0.28 | ) | (0.19 | ) | (0.07 | ) | — | — | (0.07 | ) | 11.14 | 0.80 | 1.15 | 1.54 | 193 | (1.65 | ) | 2 | |||||||||||||||||||||||||||||||||||||||||||
07/01/17 | 10/31/17 | 11.37 | 0.05 | 0.03 | 0.08 | (0.05 | ) | — | — | (0.05 | ) | 11.40 | 0.80 | 1.00 | 1.25 | 126 | 0.71 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/16 | 06/30/17 | 11.90 | 0.10 | (0.24 | ) | (0.14 | ) | (0.14 | ) | (0.25 | ) | — | (0.39 | ) | 11.37 | 0.79 | 0.97 | 0.91 | 390 | (1.09 | ) | 3 | ||||||||||||||||||||||||||||||||||||||||||
07/01/15 | 06/30/16 | 11.42 | 0.15 | 0.49 | 0.64 | (0.16 | ) | — | — | (0.16 | ) | 11.90 | 0.75 | 0.97 | 1.27 | 453 | 5.63 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/14 | 06/30/15 | 11.50 | 0.10 | (0.07 | ) | 0.03 | (0.11 | ) | — | — | (0.11 | ) | 11.42 | 0.76 | 0.97 | 0.85 | 158 | 0.24 | 4 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/13 | 06/30/14 | 11.40 | 0.11 | 0.16 | 0.27 | (0.13 | ) | (0.04 | ) | — | (0.17 | ) | 11.50 | 0.79 | 1.01 | 0.93 | 636 | 2.34 | 4 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/12 | 06/30/13 | 11.61 | 0.10 | — | (e) | 0.10 | (0.12 | ) | (0.19 | ) | — | (0.31 | ) | 11.40 | 0.71 | 0.95 | 0.82 | 607 | 0.83 | 6 | ||||||||||||||||||||||||||||||||||||||||||||
Carillon Reams Core Plus Bond Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 31.76 | 0.24 | (0.83 | ) | (0.59 | ) | (0.22 | ) | — | — | (0.22 | ) | 30.95 | 0.80 | 0.92 | 1.75 | 207 | (1.88 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 31.76 | 0.14 | (0.84 | ) | (0.70 | ) | (0.14 | ) | — | — | (0.14 | ) | 30.92 | 1.55 | 1.80 | 1.01 | 207 | (2.22 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 31.74 | 0.31 | (0.83 | ) | (0.52 | ) | (0.25 | ) | — | — | (0.25 | ) | 30.97 | 0.40 | 0.59 | 1.96 | 207 | (1.64 | ) | 659 | |||||||||||||||||||||||||||||||||||||||||||
07/01/17 | 10/31/17 | 31.64 | 0.16 | 0.11 | 0.27 | (0.16 | ) | — | (0.01 | ) | (0.17 | ) | 31.74 | 0.40 | 0.58 | 1.53 | 123 | 0.85 | 741 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/16 | 06/30/17 | 32.98 | 0.42 | (0.51 | ) | (0.09 | ) | (0.52 | ) | (0.73 | ) | — | (1.25 | ) | 31.64 | 0.40 | 0.59 | 1.32 | 433 | (0.18 | ) | 784 | ||||||||||||||||||||||||||||||||||||||||||
07/01/15 | 06/30/16 | 32.27 | 0.60 | 1.14 | 1.74 | (0.56 | ) | (0.47 | ) | — | (1.03 | ) | 32.98 | 0.40 | 0.55 | 1.87 | 480 | 5.53 | 844 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/14 | 06/30/15 | 32.30 | 0.39 | (0.01 | ) | 0.38 | (0.38 | ) | (0.03 | ) | — | (0.41 | ) | 32.27 | 0.40 | 0.56 | 1.22 | 187 | 1.19 | 638 | ||||||||||||||||||||||||||||||||||||||||||||
07/01/13 | 06/30/14 | 31.94 | 0.49 | 0.44 | 0.93 | (0.44 | ) | (0.13 | ) | — | (0.57 | ) | 32.30 | 0.40 | 0.57 | 1.53 | 663 | 2.94 | 448 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/12 | 06/30/13 | 33.03 | 0.55 | 0.35 | 0.90 | (0.56 | ) | (1.43 | ) | — | (1.99 | ) | 31.94 | 0.40 | 0.59 | 1.65 | 604 | 2.64 | 430 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 31.76 | 0.19 | (0.82 | ) | (0.63 | ) | (0.18 | ) | — | — | (0.18 | ) | 30.95 | 1.05 | 1.54 | 1.38 | 207 | (1.99 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 31.76 | 0.27 | (0.83 | ) | (0.56 | ) | (0.24 | ) | — | — | (0.24 | ) | 30.96 | 0.50 | 1.04 | 1.93 | 207 | (1.77 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 31.76 | 0.28 | (0.82 | ) | (0.54 | ) | (0.25 | ) | — | — | (0.25 | ) | 30.97 | 0.40 | 1.04 | 2.03 | 207 | (1.70 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 31.73 | 0.24 | (0.82 | ) | (0.58 | ) | (0.20 | ) | — | — | (0.20 | ) | 30.95 | 0.80 | 0.91 | 1.56 | 207 | (1.84 | ) | 23 | |||||||||||||||||||||||||||||||||||||||||||
07/01/17 | 10/31/17 | 31.63 | 0.12 | 0.10 | 0.22 | (0.11 | ) | — | (0.01 | ) | (0.12 | ) | 31.73 | 0.80 | 0.93 | 1.13 | 123 | 0.71 | 28 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/16 | 06/30/17 | 32.97 | 0.30 | (0.51 | ) | (0.21 | ) | (0.39 | ) | (0.74 | ) | — | (1.13 | ) | 31.63 | 0.78 | 0.91 | 0.94 | 433 | (0.57 | ) | 30 | ||||||||||||||||||||||||||||||||||||||||||
07/01/15 | 06/30/16 | 32.27 | 0.48 | 1.14 | 1.62 | (0.45 | ) | (0.47 | ) | — | (0.92 | ) | 32.97 | 0.74 | 0.89 | 1.53 | 480 | 5.16 | 82 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/14 | 06/30/15 | 32.29 | 0.26 | (0.01 | ) | 0.25 | (0.24 | ) | (0.03 | ) | — | (0.27 | ) | 32.27 | 0.80 | 0.96 | 0.82 | 187 | 0.79 | 57 | ||||||||||||||||||||||||||||||||||||||||||||
07/01/13 | 06/30/14 | 31.94 | 0.38 | 0.43 | 0.81 | (0.33 | ) | (0.13 | ) | — | (0.46 | ) | 32.29 | 0.78 | 0.95 | 1.15 | 663 | 2.54 | 102 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/12 | 06/30/13 | 33.03 | 0.48 | 0.31 | 0.79 | (0.45 | ) | (1.43 | ) | — | (1.88 | ) | 31.94 | 0.75 | 0.94 | 1.30 | 604 | 2.30 | 54 | |||||||||||||||||||||||||||||||||||||||||||||
Carillon Reams Unconstrained Bond Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 11.83 | 0.08 | (0.21 | ) | (0.13 | ) | (0.07 | ) | — | — | (0.07 | ) | 11.63 | 0.80 | 1.23 | 1.57 | 87 | (1.09 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 11.83 | 0.04 | (0.20 | ) | (0.16 | ) | (0.04 | ) | — | — | (0.04 | ) | 11.63 | 1.55 | 2.20 | 0.75 | 87 | (1.37 | ) | 0 |
46 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Financial Highlights
Fiscal periods | From investment operations | Dividends & distributions |
| Ratios to average net asset (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning net asset value | Income (loss) | Realized & unrealized gain (loss) | Total | From investment income | From realized gains | From return of capital | Total | Ending net asset value | With expenses waived/ recovered (a) | Without expenses waived/ recovered (a) | Net income (loss) (a) | Portfolio turnover rate (%) (b) | Total return (%) (b)(c) | Ending net assets (millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning | Ending | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carillon Reams Unconstrained Bond Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | $ 11.85 | $ 0.10 | $ (0.24 | ) | $ (0.14 | ) | $ (0.08 | ) | $ — | $ — | $ (0.08 | ) | $ 11.63 | 0.50 | 0.80 | 1.65 | 87 | (1.16 | ) | $ 1,480 | |||||||||||||||||||||||||||||||||||||||||||
07/01/17 | 10/31/17 | 11.83 | 0.04 | 0.02 | 0.06 | (0.04 | ) | — | — | (0.04 | ) | 11.85 | 0.50 | 0.80 | 1.00 | 83 | 0.48 | 1,521 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/16 | 06/30/17 | 11.70 | 0.10 | 0.15 | 0.25 | (0.12 | ) | — | — | (0.12 | ) | 11.83 | 0.50 | 0.80 | 0.86 | 370 | 2.15 | 1,475 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/15 | 06/30/16 | 11.32 | 0.21 | 0.27 | 0.48 | (0.10 | ) | — | — | (0.10 | ) | 11.70 | 0.50 | 0.82 | 1.88 | 615 | 4.28 | 1,281 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/14 | 06/30/15 | 11.65 | 0.08 | (0.29 | ) | (0.21 | ) | (0.12 | ) | — | — | (0.12 | ) | 11.32 | 0.50 | 0.81 | 0.79 | 116 | (1.77 | ) | 1,477 | |||||||||||||||||||||||||||||||||||||||||||
07/01/13 | 06/30/14 | 11.70 | 0.04 | 0.01 | 0.05 | (0.03 | ) | (0.07 | ) | — | (0.10 | ) | 11.65 | 0.50 | 0.84 | 0.40 | 422 | 0.44 | 1,806 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/12 | 06/30/13 | 11.02 | 0.24 | 1.15 | 1.39 | (0.23 | ) | (0.48 | ) | — | (0.71 | ) | 11.70 | 0.59 | 0.96 | 1.36 | 140 | 12.72 | 420 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 11.83 | 0.06 | (0.20 | ) | (0.14 | ) | (0.06 | ) | — | — | (0.06 | ) | 11.63 | 1.05 | 1.72 | 1.15 | 87 | (1.19 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 11.83 | 0.09 | (0.21 | ) | (0.12 | ) | (0.08 | ) | — | — | (0.08 | ) | 11.63 | 0.50 | 1.22 | 1.70 | 87 | (0.99 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 04/30/18 | 11.83 | 0.09 | (0.20 | ) | (0.11 | ) | (0.09 | ) | — | — | (0.09 | ) | 11.63 | 0.40 | 1.22 | 1.80 | 87 | (0.96 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 04/30/18 | 11.90 | 0.08 | (0.22 | ) | (0.14 | ) | (0.07 | ) | — | — | (0.07 | ) | 11.69 | 0.80 | 1.11 | 1.33 | 87 | (1.20 | ) | 56 | |||||||||||||||||||||||||||||||||||||||||||
07/01/17 | 10/31/17 | 11.88 | 0.03 | 0.02 | 0.05 | (0.03 | ) | — | — | (0.03 | ) | 11.90 | 0.80 | 1.07 | 0.69 | 83 | 0.38 | 71 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/16 | 06/30/17 | 11.75 | 0.07 | 0.14 | 0.21 | (0.08 | ) | — | — | (0.08 | ) | 11.88 | 0.80 | 1.09 | 0.56 | 370 | 1.78 | 99 | ||||||||||||||||||||||||||||||||||||||||||||||
07/01/15 | 06/30/16 | 11.30 | 0.13 | 0.32 | 0.45 | — | — | — | — | 11.75 | 0.79 | 1.11 | 1.59 | 615 | 3.98 | 92 | ||||||||||||||||||||||||||||||||||||||||||||||||
07/01/14 | 06/30/15 | 11.64 | 0.03 | (0.27 | ) | (0.24 | ) | (0.10 | ) | — | — | (0.10 | ) | 11.30 | 0.80 | 1.11 | 0.49 | 116 | (2.05 | ) | 260 | |||||||||||||||||||||||||||||||||||||||||||
07/01/13 | 06/30/14 | 11.71 | 0.01 | — | (e) | 0.01 | (0.01 | ) | (0.07 | ) | — | (0.08 | ) | 11.64 | 0.78 | 1.12 | 0.12 | 422 | 0.12 | 555 | ||||||||||||||||||||||||||||||||||||||||||||
07/01/12 | 06/30/13 | 11.62 | 0.11 | 0.09 | 0.20 | (0.11 | ) | — | — | (0.11 | ) | 11.71 | 0.77 | 1.17 | 0.84 | 140 | 1.68 | 125 |
* Per share amounts have been calculated using the daily average share method. The data for fiscal periods ending after October 31, 2017 is unaudited.
(a) Annualized for periods less than one year.
(b) Not annualized for periods less than one year.
(c) Total returns are calculated without the imposition of either front-end or contingent deferred sales charges.
(d) The Carillon Eagle Capital Appreciation Fund changed its subadviser effective June 28, 2013.
(e) Per share amount is less than $0.005.
(f) The Carillon Eagle Smaller Company Fund changed its subadviser effective March 1, 2018.
(g) The Carillon Eagle Smaller Company Fund changed its subadvisor effective October 20, 2014.
The accompanying notes are an integral part of the financial statements. | 47 |
Table of Contents
(UNAUDITED) | 04.30.2018 |
NOTE 1 | Organization and investment objective | The Carillon Series Trust (the “Trust” or the “Carillon Family of Funds”) is a Delaware statutory trust, and is registered under the Investment Company Act of 1940, as amended, as an open-end diversified management investment company. The Trust offers shares in the following series (each a “Fund” and collectively the “Funds”) and are advised by Carillon Tower Advisers, Inc. (“Carillon Tower” or “Manager”).
• | The Carillon ClariVest Capital Appreciation Fund (“Capital Appreciation Fund”) seeks long-term capital appreciation. |
• | The Carillon ClariVest International Stock Fund (“International Stock Fund”) seeks capital appreciation, |
• | The Carillon Cougar Tactical Allocation Fund (“Tactical Allocation Fund”) seeks long-term capital appreciation. |
• | The Carillon Eagle Growth & Income Fund (“Growth & Income Fund”) primarily seeks long-term capital appreciation and, secondarily, seeks current income. |
• | The Carillon Eagle Mid Cap Growth Fund (“Mid Cap Growth Fund”) seeks long-term capital appreciation, |
• | The Carillon Eagle Mid Cap Stock Fund (“Mid Cap Stock Fund”) seeks long-term capital appreciation, |
• | The Carillon Eagle Small Cap Growth Fund (“Small Cap Growth Fund”) seeks long-term capital appreciation, |
• | The Carillon Eagle Smaller Company Fund (“Smaller Company Fund”) seeks capital growth, |
• | The Carillon Scout International Fund (“International Fund”) seeks long-term growth of capital and income, |
• | The Carillon Scout Mid Cap Fund (“Mid Cap Fund”) seeks long- term growth of capital, |
• | The Carillon Scout Small Cap Fund (“Small Cap Fund”) seeks long-term growth of capital, |
• | The Carillon Reams Core Bond Fund (“Core Bond Fund”) seeks a high level of total return consistent with the preservation of capital, |
• | The Carillon Reams Core Plus Bond Fund (“Core Plus Bond Fund”) seeks a high level of total return consistent with the preservation of capital, and |
• | The Carillon Reams Unconstrained Bond Fund (“Unconstrained Bond Fund”) seeks to maximize total return consistent with the preservation of capital. |
Class offerings | As of April 30, 2018, each Fund was authorized and offered Class A, Class C, Class I, Class R-3, Class R-5, Class R-6, and Class Y shares to qualified buyers.
• | For all Funds except the Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund, Class A shares are sold at a maximum front-end sales charge of 4.75%. For the Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund, Class A shares are sold at a maximum front-end sales charge of 3.75%. Class A share investments greater than $1 million, which are not sold subject to a sales charge, may be subject to a contingent deferred sales charge (“CDSC”) of up to 1.00% of the lower of net asset value (“NAV”) or purchase price if redeemed within 18 months of purchase. |
• | Class C shares are sold subject to a CDSC of 1.00% of the lower of NAV or purchase price if redeemed within one year of purchase. |
• | Class I, Class R-3, Class R-5, Class R-6 and Class Y shares are each sold without a front-end sales charge or a CDSC to qualified buyers. |
NOTE 2 | Significant accounting policies | The following is a summary of significant accounting policies of the Funds. The policies are in conformity with
accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Funds are investment companies and, accordingly, follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946—Investment Companies, which is part of U.S. GAAP.
Use of estimates | The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates and those differences could be material.
Valuation of securities | The price of each Fund’s shares is based on the NAV per share of each class of a Fund. Each Fund normally determines the NAV of its shares each business day as of the scheduled close of regular trading on the New York Stock Exchange (NYSE) and the Nasdaq (typically 4:00 p.m. ET). A Fund will not treat an intraday unscheduled disruption in trading on either the NYSE or Nasdaq as a closure of that particular market, and will price its shares as of the normally scheduled close of the NYSE and Nasdaq if the disruption directly affects only one of those markets. If the NYSE or other securities exchange modifies the published closing price of securities traded on that exchange after the NAV is calculated, the Funds are not required to recalculate their NAV.
Generally, the Funds value portfolio securities for which market quotations are readily available at market value; however, a Fund may adjust the market quotation price to reflect events that occur between the close of those markets and the time of the Fund’s determination of the NAV.
A market quotation may be considered unreliable or unavailable for various reasons, such as:
• | The quotation may be stale; |
• | The security is not actively traded; |
• | Trading on the security halted before the close of the trading market; |
• | The security is newly issued; |
• | Issuer-specific or vendor specific events occurred after the security halted trading; or |
• | Due to the passage of time between the close of the market on which the security trades and the close of the NYSE and the Nasdaq. |
Issuer-specific events may cause the last market quotation to be unreliable. Such events may include:
• | A merger or insolvency; |
• | Events which affect a geographical area or an industry segment, such as political events or natural disasters; or |
• | Market events, such as a significant movement in the U.S. markets. |
For most securities, both the latest transaction prices and adjustments are furnished by independent pricing services, subject to supervision by the Board of Trustees (“Board”). The Funds value all other securities and assets for which market quotations are unavailable or unreliable at their fair value in good faith using Pricing and Valuation Procedures (“Procedures”) approved by the Board. A Fund may fair value small-cap securities, for example, that are thinly traded or illiquid. Fair value is the amount that the owner might reasonably expect to receive for the security upon its current sale. Fair value requires consideration of all appropriate factors, including indications of fair value available from independent pricing services. A fair value price is an estimated price and may vary from the prices used by other mutual funds to calculate their NAV.
Pursuant to the Procedures, the Board has delegated the day-to-day responsibility for applying and administering the Procedures to a valuation committee (“Valuation Committee”), comprised of certain officers of the Trusts
48 |
Table of Contents
Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
and other employees of Carillon Tower. The composition of this Valuation Committee may change from time to time. The Valuation Committee follows fair valuation guidelines as set forth in the Procedures to make fair value determinations on all securities and assets for which market quotations are unavailable or unreliable. For portfolio securities fair valued by the Valuation Committee, Carillon Tower checks fair value prices by comparing the fair value of the security with values that are available from other sources (if any). Carillon Tower compares the fair value of the security to the next-day opening price or next actual sale price, when applicable. Carillon Tower documents and reports to the Valuation Committee such comparisons when they are made. The Valuation Committee reports such comparisons to the Board at their regularly scheduled meetings. The Board retains the responsibility for periodic review and consideration of the appropriateness of any fair value pricing methodology established or implemented for a Fund. Fair value pricing methods, the Procedures and independent pricing services can change from time to time as approved by the Board, and may occur as a result of lookback testing results or changes in industry best practices.
There can be no assurance, however, that a fair value price used by a Fund on any given day will more accurately reflect the market value of a security than a market price of such security on that day, as fair valuation determinations may involve subjective judgments made by the Valuation Committee. Fair value pricing may deter shareholders from trading a Fund’s shares on a frequent basis in an attempt to take advantage of arbitrage opportunities resulting from potentially stale prices of portfolio holdings. However, it cannot eliminate the possibility of frequent trading. Specific types of securities are valued as follows:
• | Domestic exchange-traded equity securities | Market quotations are generally available and reliable for domestic exchange-traded equity securities. If the prices provided by the independent pricing service and independent quoted prices are unavailable or unreliable, the Valuation Committee will fair value the security using the Procedures. |
• | Foreign exchange-traded equity securities | If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE and the Nasdaq, closing market quotations may become unreliable. Consequently, fair valuation of portfolio securities may occur on a daily basis. The Valuation Committee, using the Procedures, may fair value a security if certain events occur between the time trading ends in a foreign market on a particular security and a Fund’s NAV calculation. The Valuation Committee, using the Procedures, may also fair value a particular security if the events are significant and make the closing price unavailable or unreliable. If an issuer-specific event has occurred that Carillon Tower determines, in its judgment, is likely to have affected the closing price of a foreign security, the security will be priced at fair value. Carillon Tower also utilizes a screening process from a pricing vendor to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current market value as of the close of the NYSE. Securities and other assets quoted in foreign currencies are valued in U.S. dollars based on exchange rates provided by an independent pricing service. The pricing vendor, pricing methodology or degree of certainty may change from time to time. Securities primarily traded on foreign markets may trade on days that are not business days of the Funds. Because the NAV of a Fund’s shares is determined only on business days of the Fund, the value of the securities of a Fund that invests in foreign securities may change on days when shareholders would not be able to purchase or redeem shares of the Fund. |
• | Fixed income securities | Government bonds, corporate bonds, asset- backed bonds, municipal bonds, short-term securities (investments that have a maturity date of 60 days or less), commercial paper and convertible securities, including high yield or junk bonds, normally are valued on the basis of evaluated prices provided by independent pricing services. |
Evaluated prices provided by the independent pricing services may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to special securities, dividend rate, maturity and other market data. In accordance with SEC guidance, before using certain evaluated prices from a Pricing Service to determine the fair value of a Fund’s securities, Carillon Tower or the Valuation Committee shall, as appropriate, consider the inputs, methods, models, and assumptions used by the Pricing Service to determine the evaluated prices, and how those inputs, methods, models and assumptions are affected, if at all, as market conditions change. If the evaluated prices provided by the independent pricing service and independent quoted prices are unavailable or unreliable, the Valuation Committee will fair value the security using the Procedures. |
• | Futures and Options | Futures and options are valued on the basis of market quotations, if available and reliable. If prices provided by independent pricing services and independent quoted prices are unavailable or unreliable, the Valuation Committee will fair value the security using the Procedures. During the period ended April 30, 2018, only the Core Plus Bond Fund and Unconstrained Bond Fund held futures. None of the Funds held options during the period ended April 30, 2018. |
• | Credit default swaps | Credit default swaps are valued with prices provided by independent pricing services. If prices provided by independent pricing services are unavailable or unreliable, the Valuation Committee will fair value the security using the Procedures. During the period ended April 30, 2018, only the Core Plus Bond Fund and Unconstrained Bond Fund held credit default swaps. |
• | Investment companies and exchange-traded funds (ETFs) | Investments in other open-end investment companies are valued at their reported NAV. The prospectuses for these companies explain the circumstances under which these companies will use fair value pricing and the effect of the fair value pricing. In addition, investments in closed-end funds and ETFs are valued on the basis of market quotations, if available and reliable. If the prices provided by independent pricing services and independent quoted prices are unavailable or unreliable, the Valuation Committee will fair value the security using the Procedures. |
Fair value measurements | Each Fund utilizes a three-level hierarchy of inputs to establish a classification of fair value measurements. The three levels are defined as:
Level 1—Valuations based on unadjusted quoted prices for identical securities in active markets;
Level 2—Valuations based on inputs other than quoted prices that are observable, either directly or indirectly, including inputs in markets that are not considered active; and
Level 3—Valuations based on inputs that are unobservable and significant to the fair value measurement, and may include the Valuation Committee’s own assumptions on determining fair value of investments.
Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments and is affected by various factors such as the type of investment and the volume and/or level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Valuation Committee, along with any other relevant factors in the calculation of an investment’s fair value. A Fund uses prices and inputs that are current as of the valuation date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.
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Investments falling into the Level 3 category may be classified as such due to a lack of market transparency and corroboration to support the quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the
Valuation Committee. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable entity data.
The following is a summary of the inputs used to value each Fund’s investments as of April 30, 2018:
Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs (Level 3) | ||||||||||
Capital Appreciation Fund |
| |||||||||||
Common stocks (a) | $454,001,242 | $— | $— | |||||||||
Total investment portfolio | $454,001,242 | $— | $— | |||||||||
International Stock Fund |
| |||||||||||
Common stocks (a): | ||||||||||||
Australia | $— | $578,195 | $— | |||||||||
Belgium | — | 215,951 | — | |||||||||
Denmark | — | 298,824 | — | |||||||||
France | — | 1,699,118 | — | |||||||||
Germany | — | 1,518,894 | — | |||||||||
Hong Kong | — | 405,824 | — | |||||||||
Israel | — | 285,548 | — | |||||||||
Italy | — | 480,940 | — | |||||||||
Japan | — | 5,806,172 | — | |||||||||
Netherlands | 293,080 | 781,305 | — | |||||||||
Norway | — | 116,373 | — | |||||||||
Singapore | — | 530,949 | — | |||||||||
Spain | — | 310,038 | — | |||||||||
Sweden | — | 546,904 | — | |||||||||
Switzerland | — | 2,435,682 | — | |||||||||
United Kingdom | — | 3,081,793 | — | |||||||||
Preferred stocks: | ||||||||||||
Germany | — | 234,695 | — | |||||||||
Exchange traded funds | 205,146 | — | — | |||||||||
Total investment portfolio | $498,226 | $19,327,205 | $— | |||||||||
Tactical Allocation Fund |
| |||||||||||
Domestic exchange traded funds | $13,442,704 | $— | $— | |||||||||
Foreign exchange traded funds | 2,869,215 | — | — | |||||||||
Total investment portfolio | $16,311,919 | $— | $— | |||||||||
Growth & Income Fund |
| |||||||||||
Common stocks (a) | $577,995,863 | $— | $— | |||||||||
Total investment portfolio | $577,995,863 | $— | $— | |||||||||
Mid Cap Growth Fund |
| |||||||||||
Common stocks (a) | $3,190,512,311 | $— | $— | |||||||||
Total investment portfolio | $3,190,512,311 | $— | $— |
Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs (Level 3) | ||||||||||
Mid Cap Stock Fund |
| |||||||||||
Common stocks (a) | $233,529,964 | $— | $— | |||||||||
Total investment portfolio | $233,529,964 | $— | $— | |||||||||
Small Cap Growth Fund |
| |||||||||||
Common stocks (a) | $5,043,159,922 | $— | $— | |||||||||
Contingent value rights | — | — | 242,594 | |||||||||
Total investment portfolio | $5,043,159,922 | $— | $242,594 | |||||||||
Smaller Company Fund |
| |||||||||||
Common stocks (a) | $41,095,890 | $— | $— | |||||||||
Total investment portfolio | $41,095,890 | $— | $— | |||||||||
International Fund |
| |||||||||||
Common stocks (a): | ||||||||||||
Australia | $14,480,859 | $59,418,752 | $— | |||||||||
Canada | 11,881,126 | — | — | |||||||||
Denmark | 14,481,413 | 18,113,414 | — | |||||||||
France | — | 88,087,040 | — | |||||||||
Germany | 31,975,226 | 77,836,280 | — | |||||||||
Hong Kong | — | 11,625,212 | — | |||||||||
Ireland | 16,830,469 | 12,569,539 | — | |||||||||
Japan | — | 148,215,240 | — | |||||||||
Mexico | 33,431,692 | — | — | |||||||||
Norway | — | 15,571,511 | — | |||||||||
Singapore | — | 18,142,678 | — | |||||||||
South Africa | — | 9,876,427 | — | |||||||||
Spain | — | 14,724,491 | — | |||||||||
Sweden | — | 32,594,144 | — | |||||||||
Switzerland | 23,634,718 | 71,720,879 | — | |||||||||
Taiwan | — | 29,610,536 | — | |||||||||
United Kingdom | 52,322,855 | 74,067,715 | — | |||||||||
United States | 52,580,615 | — | — | |||||||||
Preferred stocks: | ||||||||||||
Colombia | 19,399,955 | — | — | |||||||||
Germany | 15,149,147 | 21,539,348 | — | |||||||||
Total investment portfolio | $286,168,075 | $703,713,206 | $— | |||||||||
Mid Cap Fund |
| |||||||||||
Common stocks (a) | $2,048,379,130 | $— | $— | |||||||||
Total investment portfolio | $2,048,379,130 | $— | $— | |||||||||
Small Cap Fund |
| |||||||||||
Common stocks (a) | $260,251,487 | $— | $— | |||||||||
Total investment portfolio | $260,251,487 | $— | $— |
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Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs (Level 3) | ||||||||||
Core Bond Fund |
| |||||||||||
Corporate bonds (a) | $— | $32,756,102 | $— | |||||||||
Mortgage and asset-backed securities | — | 33,616,439 | — | |||||||||
U.S. Treasuries | — | 61,486,291 | — | |||||||||
Short-term investments | — | 1,150,345 | — | |||||||||
Total investment portfolio | $— | $129,009,177 | $— | |||||||||
Core Plus Bond Fund |
| |||||||||||
Corporate bonds (a) | $— | $174,382,230 | $— | |||||||||
Mortgage and asset-backed securities | — | 175,340,304 | — | |||||||||
U.S. Treasuries | — | 390,829,512 | — | |||||||||
Short-term investments | — | 6,790,435 | — | |||||||||
Total investment portfolio | $— | $747,342,481 | $— | |||||||||
Futures contracts—long (b) | $(1,187,657 | ) | $— | $— | ||||||||
Futures contracts—short (b) | $(1,507,453 | ) | $— | $— | ||||||||
Credit default swaps | $— | $780,188 | $— | |||||||||
Unconstrained Bond Fund |
| |||||||||||
Corporate bonds (a) | $— | $405,637,940 | $— | |||||||||
Mortgage and asset-backed securities | — | 82,890,712 | — | |||||||||
U.S. Treasuries | — | 1,046,754,082 | — | |||||||||
Short-term investments | — | 33,005,689 | — | |||||||||
Total investment portfolio | $— | $1,568,288,423 | $— | |||||||||
Futures contracts—short (b) | $(6,188,561) | $— | $— | |||||||||
Credit default swaps | $— | $1,653,941 | $— | |||||||||
(a) Please see the investment portfolio for detail by industry. (b) Amounts presented for Futures Contracts represent total unrealized appreciation (depreciation) as of April 30, 2018. |
|
Each Fund recognizes transfers between levels at the end of the reporting period. During the period ended April 30, 2018, there were no transfers in or out of Levels 1, 2, or 3.
The following is a reconciliation of Level 3 securities held by the Small Cap Growth Fund as of April 30, 2018 for which significant unobservable inputs were used to determine fair value:
Small Cap Growth Fund | Common stocks | Contingent value rights | ||||||
Balance as of October 31, 2017 | $14,746,830 | $242,594 | ||||||
Purchases | — | — | ||||||
Sales | (14,746,830 | ) | — | |||||
Change in unrealized appreciation (depreciation) | — | — | ||||||
Balance as of April 30, 2018 | $— | $242,594 |
The Funds’ policy for disclosing the valuation techniques and significant unobservable inputs for Level 3 assets and liabilities is to provide such disclosures when aggregate exposure to Level 3 investments exceeds 1.00% of net asset value. At April 30, 2018, the Level 3 investments within the Fund did not exceed such threshold and therefore have not been disclosed.
Common stocks | On August 29, 2017, Thermo Fisher Scientific, Inc. acquired 95.3% of the outstanding Patheon N.V. ordinary shares, and Patheon N.V. was no longer exchange traded and was delisted. The Fund’s position in Patheon N.V. was sold during the period ended April 30, 2018 and is no longer held by the Fund. The Fund recognized realized gains of $2,604,859 from the sale of Patheon N.V.
Contingent value rights | The contingent value rights (“CVR”) were acquired as a result of Dyax Corp. (which was a portfolio holding of the Fund) being acquired by Shire PLC. In exchange for the Fund’s shares in Dyax Corp., the Fund received cash consideration from Shire PLC as well as the CVR.
Derivatives | The following disclosure provides certain information about the Funds’ derivative and hedging activities.
• | Forward currency contracts | Each of the Funds’ policies, except Small Cap Growth, Core Bond, International, Mid Cap, and Small Cap, permit the Funds to enter into forward currency contracts (“forward contracts”) for hedging (such as to hedge the impact of adverse changes in the relationships between the US dollar and various foreign currencies), including transaction hedging, anticipatory hedging, cross hedging, proxy hedging, and position hedging, or for any other lawful purpose consistent with their investment objectives. Forward contracts are agreements between two parties to exchange different currencies at a specified rate at an agreed upon future date. The fair value of a forward contract fluctuates with changes in currency exchange rates. Outstanding forward contracts are valued daily at current forward rates and the resulting change in market value is recorded as unrealized appreciation or depreciation. When a forward contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time the forward contract was opened and the value at the time it was closed. The risks to the Funds of entering into forward contracts include the inability of counterparties to meet the terms of their contracts, future adverse movement in currency values and contract positions that are not exact offsets. During the period ended April 30, 2018, none of the Funds held forward contracts. |
• | Credit default swap contracts | The International Stock, Core Bond, Core Plus Bond and Unconstrained Bond Funds’ policies permit the Funds to enter into credit default swap agreements to enhance the Funds’ returns, increase liquidity, manage the duration of the Funds’ portfolios and/or gain exposure to certain instruments or markets (i.e., the corporate bond market) in a relatively efficient way. The credit default swap agreement may have as a reference obligation one or more securities that are or are not currently held by a Fund. The Funds may enter into credit default swap agreements either as a buyer or seller. The buyer in a credit default swap agreement is obligated to pay the seller a periodic fee, typically expressed in basis points on the principal amount of the underlying obligation (the “notional value”), over the term of the agreement in return for a contingent payment upon the occurrence of a credit event with respect to the underlying reference obligation. A credit event is typically a default. If a Fund is a buyer and no credit event occurs, the Fund may lose its investment and recover nothing. If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) receive from the seller of protection an amount equal to the notional value of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional value of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. As a seller, a Fund accrues for and receives a fixed rate |
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of income throughout the term of the agreement, which typically is between one month and five years, provided that no credit event occurs. As the seller, a Fund would effectively add leverage to its portfolio because, in addition to its total net assets, a Fund would be subject to investment exposure on the notional value of the swap. If a Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) pay to the buyer of protection an amount equal to the notional value of the swap and take delivery of the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional value of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. If a credit event occurs, the maximum payout amount for a sale contract is limited to the notional value of the swap contract (“Maximum Payout Amount”). Recovery values are estimated by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value. Credit default swap agreements on credit indices involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising the credit index. A credit index is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. These indices are made up of reference credits that are judged by a poll of dealers to be the most liquid entities in the credit default swap market based on the sector of the index. Components of the indices may include, but are not limited to, investment grade securities, high yield securities, asset-backed securities, emerging markets, and/or various credit ratings within each sector. Credit indices are traded using credit default swaps with standardized terms including a fixed spread and standard maturity dates. An index credit default swap references all the names in the index, and if there is a default, the credit event is settled based on that name’s weight in the index. The composition of the indices changes periodically, usually every six months, and for most indices, each name has an equal weight in the index. A Fund may use credit default swaps on credit indices to hedge a portfolio of credit default swaps or bonds, which is less expensive than it would be to buy many credit default swaps to achieve a similar effect. Credit default swaps on indices are benchmarks for protecting investors owning bonds against default, and traders use them to speculate on changes in credit quality. Interest paid to or by the Funds is accrued daily and included in realized gain (loss) on swap agreements. The contracts are marked-to-market daily using fair value estimates provided by an independent pricing service. Changes in value are recorded as unrealized appreciation (depreciation). Unrealized gains are reported as an asset and unrealized losses are reported as a liability. The change in value of swap agreements, including accruals of periodic amounts of interest to be paid or received is reported as unrealized gains or losses. Gains or losses are realized upon termination of the contracts. Credit default swaps sold by a Fund may involve greater risks than if a Fund had invested in the reference obligation directly. Credit default swaps are subject to general market risk, liquidity risk, counterparty credit risk and credit risk of the issuer. Details of swap contracts, if any, at period end are included in the Investment Portfolios under the caption “Swap Contracts.” |
• | Futures contracts | Each of the Funds’ policies, except Small Cap Growth, International, Mid Cap, and Small Cap, permit the Funds to enter into futures contracts (“Futures”), including interest rate, bond, U.S. Treasury and fixed income index Futures, as a hedge against movements in the equity and bond markets in order to establish more definitively the |
effective return on securities held or intended to be acquired by the Funds or for other purposes permissible under the Commodity Exchange Act, including as a means to gain or reduce exposure to a reference instrument without actually buying or selling it. When a Fund enters into Futures, it must deliver to an account controlled by the futures commission merchant (“FCM”) an amount referred to as “initial margin.” Initial margin requirements are determined by the respective exchanges on which the Futures are traded and the FCM. Thereafter, a “variation margin” amount may be required to be paid by the Fund or received by the Fund in accordance with margin controls set for such accounts, depending upon changes in the marked-to-market value of the Futures. The account is marked-to-market daily and the unrealized gains or losses are recorded as variation margin and monitored by the Manager and custodian on a daily basis. When Futures are closed out, the Fund recognizes a realized gain or loss. The risks of entering into Futures include the possibility that a change in the value of the contract may not correlate with the changes in the value of the underlying instrument. The purchase of Futures involves the risk that the Fund could lose more than the amount invested in Futures. Details of futures contracts, if any, at period end are included in the Investment Portfolios under the caption “Futures Contracts.” |
For the period ended April 30, 2018, the average of month-end derivative positions (notional value in U.S. dollars) were as follows:
Core Plus Bond Fund | Unconstrained Bond Fund | |||||||
Credit default swap contracts | $5,547,143 | $13,782,857 | ||||||
Futures contracts—long | 18,712,768 | — | ||||||
Futures contracts—short | (108,843,454 | ) | (378,639,113 | ) |
Foreign currency transactions | The books and records of each Fund are maintained in U.S. dollars. Foreign currency transactions are translated into U.S. dollars on the following basis: (i) market value of investment securities, other assets and other liabilities at the daily rates of exchange, and (ii) purchases and sales of investment securities, dividend and interest income and certain expenses at the rates of exchange prevailing on the respective dates of such transactions. The Funds do not isolate that portion of gains and losses on investments which is due to changes in foreign exchange rates from that which is due to changes in market prices of the investments. Such fluctuations are included with the net realized and unrealized gains and losses from investment transactions. Net realized gain (loss) on foreign currency transactions and the net change in unrealized appreciation (depreciation) on translation of assets and liabilities denominated in foreign currencies include gains and losses between trade and settlement date on securities transactions, gains and losses arising from the purchase and sale of forward foreign currency exchange contracts and gains and losses between the ex and payment dates on dividends, interest and foreign withholding taxes.
To-Be-Announced Securities | The Core Bond, Core Plus Bond and Unconstrained Bond Funds’ policies permit the Funds to enter into to-be-announced securities. A to-be-announced mortgage-backed security (“TBA”) is a mortgage-backed security, such as a Ginnie Mae pass-through security, that is purchased or sold with specific pools of cash that will constitute that Ginnie Mae pass-through security, to be announced on a future settlement date. At the time of purchase of a TBA, the seller does not specify the particular mortgage-backed securities to be delivered but rather agrees to accept any mortgage-backed security that meets specified terms. The Fund and the seller would agree upon the issuer, interest rate and terms of the underlying mortgages, but the seller would not identify the specific underlying mortgages until shortly before it issues the mortgage-backed security. TBAs increase interest rate risks because the underlying mortgages may be less favorable than anticipated by a Fund. As a purchaser of a TBA, the Fund will segregate or “earmark” cash or cash equivalent securities in accordance with procedures
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adopted by the Board equal to the value of the TBA, marked to-market daily in accordance with pertinent SEC positions. As a seller of a TBA, the Fund will segregate or “earmark” in accordance with procedures adopted by the Board the equivalent deliverable security up to the obligation required to be delivered.
Real estate investment trusts (“REIT(s)”) | There are certain additional risks involved in investing in REITs. These include, but are not limited to, economic conditions, changes in zoning laws, real estate values, property taxes and interest rates. Dividend income is recorded at the Manager’s estimate of the income included in distributions from the REITs. Distributions received in excess of the estimated amount are recorded as a reduction of the cost of the investments. The actual amounts of income, return of capital and capital gains are only determined by each REIT after the Funds’ fiscal year-end and may differ from the estimated amounts.
Repurchase agreements | Each Fund may enter into repurchase agreements whereby a Fund, through its custodian, receives delivery of the underlying securities, the market value of which at the time of purchase is required to be in an amount of at least 100% of the resale price. Repurchase agreements involve the risk that the seller will fail to repurchase the security, as agreed. In that case, the Fund will bear the risk of market value fluctuations until the security can be sold and may encounter delays and incur costs in liquidating the security. In the event of bankruptcy or insolvency of the seller, delays and costs may be incurred. During the period ended April 30, 2018, none of the Funds held any repurchase agreements.
Revenue recognition | Investment security transactions are accounted for on a trade date basis. Dividend income is recorded on the ex-dividend date. Interest income is recorded on an accrual basis.
Foreign taxes | The Funds may be subject to taxes imposed by countries in which they invest, with respect to their investments in issuers existing or operating in such countries. The Funds may also be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may or may not be recoverable. The Funds accrue such taxes and recoveries as applicable, when the related income or capital gains are earned and based upon the current interpretation of tax rules and regulations that exist in the markets in which a Fund invests. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors.
Expenses | Each Fund is charged for certain expenses which are directly attributable to it and certain other expenses which are allocated proportionately among the Carillon Family of Funds based upon methods approved by the Board. Expenses that are directly attributable to a specific class of shares, such as distribution fees, shareholder servicing fees and administrative fees, are charged directly to that class of shares. Other expenses of each Fund are allocated to each class of shares based upon its relative percentage of net assets.
Class allocations | Each class of shares has equal rights to earnings and assets except that each class may bear different expenses for administration, distribution and/or shareholder services. Income, expenses (other than expenses attributable to a specific class), and realized and unrealized gains or losses on investments are allocated to each class of shares based on its relative percentage of net assets
Segregation and Collateralization | In cases in which the 1940 Act and the interpretive positions of the Securities and Exchange Commission (“SEC”) require that a Fund either deliver collateral or segregate assets in connection with certain investments (e.g., forward currency contracts, securities with extended settlement periods, futures and swaps), the Fund will segregate collateral or designate on its books and records cash or other liquid securities having a value at least equal to the amount that is required to be physically segregated for the benefit of the counterparty. Furthermore, based on
requirements and agreements with certain exchanges and third party broker-dealers, each party has requirements to deliver/deposit cash or securities as collateral for certain investments.
Distributions | Each Fund, except the Growth & Income Fund, Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund, distributes net investment income annually. Distributions of net investment income are made quarterly in the Growth & Income Fund and monthly in the Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund. Net realized gains from investment transactions during any particular fiscal year in excess of available capital loss carryforwards, which, if not distributed, would be taxable to each applicable Fund, will be distributed to shareholders annually in the following fiscal year. Each Fund uses the identified cost method for determining realized gain or loss on investments for both financial and federal income tax reporting purposes.
Dividends paid to shareholders from net investment income were as follows:
Distributions from net investment income | 11/1/17 to 4/30/18 | Period ending 10/31/17** | ||||||
Capital Appreciation Fund | ||||||||
Class A | $— | $103,196 | ||||||
Class C | — | — | ||||||
Class I | 156,337 | 309,650 | ||||||
Class R-3 | — | — | ||||||
Class R-5 | 633 | 27,256 | ||||||
Class R-6 | 79,307 | 147,658 | ||||||
Class Y | 27 | N/A | ||||||
International Stock Fund | ||||||||
Class A | 54,124 | 46,900 | ||||||
Class C | 28,696 | 50,527 | ||||||
Class I | 115,789 | 137,212 | ||||||
Class R-3 | 7,995 | 13,703 | ||||||
Class R-5 | 45 | 604 | ||||||
Class R-6 | 178 | 220 | ||||||
Class Y | 145 | N/A | ||||||
Tactical Allocation Fund | ||||||||
Class A | 10,799 | 5,272 | ||||||
Class C | 3,040 | — | ||||||
Class I | 137,232 | 39,118 | ||||||
Class R-3 | 60 | — | ||||||
Class R-5 | 355 | 277 | ||||||
Class R-6 | 130 | 60 | ||||||
Class Y | 110 | N/A | ||||||
Growth & Income Fund | ||||||||
Class A | 1,674,806 | 2,603,605 | ||||||
Class C | 970,056 | 1,818,162 | ||||||
Class I | 2,902,107 | 4,499,599 | ||||||
Class R-3 | 20,016 | 36,917 | ||||||
Class R-5 | 5,068 | 7,686 | ||||||
Class R-6 | 490,187 | 793,603 | ||||||
Class Y | 103 | N/A |
53 |
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Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
Distributions from net investment income (cont’d) | 11/1/17 to 4/30/18 | Period ending 10/31/17** | ||||||
Mid Cap Growth Fund | ||||||||
Class A | $ — | $ — | ||||||
Class C | — | — | ||||||
Class I | — | 7,063 | ||||||
Class R-3 | — | — | ||||||
Class R-5 | — | 13,093 | ||||||
Class R-6 | — | 77,414 | ||||||
Class Y | — | N/A | ||||||
International Fund | ||||||||
Class A | 89 | N/A | ||||||
Class C | 80 | N/A | ||||||
Class I | 10,001,009 | — | ||||||
Class R-3 | 86 | N/A | ||||||
Class R-5 | 91 | N/A | ||||||
Class R-6 | 92 | N/A | ||||||
Class Y | 89 | N/A | ||||||
Mid Cap Fund | ||||||||
Class A | 52 | N/A | ||||||
Class C | 14 | N/A | ||||||
Class I | 1,987,383 | — | ||||||
Class R-3 | 7 | N/A | ||||||
Class R-5 | 12 | N/A | ||||||
Class R-6 | 12 | N/A | ||||||
Class Y | 28 | N/A | ||||||
Core Bond Fund | ||||||||
Class A | 1,063 | N/A | ||||||
Class C | 972 | N/A | ||||||
Class I | 961,383 | 889,536 | ||||||
Class R-3 | 58 | N/A | ||||||
Class R-5 | 77 | N/A | ||||||
Class R-6 | 81 | N/A | ||||||
Class Y | 14,802 | 11,400 | ||||||
Core Plus Bond Fund | ||||||||
Class A | 429 | N/A | ||||||
Class C | 373 | N/A | ||||||
Class I | 5,682,076 | 4,068,161 | * | |||||
Class R-3 | 57 | N/A | ||||||
Class R-5 | 77 | N/A | ||||||
Class R-6 | 80 | N/A | ||||||
Class Y | 161,325 | 115,206 | * | |||||
* Includes return of capital in the amount of $197,332 |
|
Distributions from net investment income (cont’d) | 11/1/17 to 4/30/18 | Period ending 10/31/17** | ||||||
Unconstrained Bond Fund | ||||||||
Class A | $127 | N/A | ||||||
Class C | 69 | N/A | ||||||
Class I | 10,690,058 | $4,691,505 | ||||||
Class R-3 | 51 | N/A | ||||||
Class R-5 | 70 | N/A | ||||||
Class R-6 | 74 | N/A | ||||||
Class Y | 354,799 | 175,502 | ||||||
** The data listed is for the fiscal year ended October 31, 2017 for all funds except the International Fund, Mid Cap Fund, Core Bond Fund, Core Plus Bond Fund, and Unconstrained Bond Fund, for which the data is for the period July 1, 2017 to October 31, 2017. For the fiscal year ended June 30, 2017, the Class I shares of the International Fund, Mid Cap Fund, Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund distributed net investment income of $21,855,165, $5,659,420, $3,156,156, $13,398,540 and $14,623,343, respectively; the Class Y shares of the Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund distributed net investment income of $37,676, $780,476 and $831,541, respectively. |
|
Distributions paid to shareholders from net realized gains were as follows:
Distributions from net realized gains | 11/1/17 to 4/30/18 | Period ending 10/31/17** | ||||||
Capital Appreciation Fund | ||||||||
Class A | $10,158,703 | $8,681,228 | ||||||
Class C | 5,182,715 | 4,827,925 | ||||||
Class I | 7,123,353 | 5,528,128 | ||||||
Class R-3 | 80,730 | 43,242 | ||||||
Class R-5 | 194,408 | 438,881 | ||||||
Class R-6 | 2,496,142 | 1,693,653 | ||||||
Class Y | 593 | N/A | ||||||
Tactical Allocation Fund | ||||||||
Class A | 27,785 | 2,366 | ||||||
Class C | 33,415 | 1,498 | ||||||
Class I | 231,908 | 8,335 | ||||||
Class R-3 | 202 | 12 | ||||||
Class R-5 | 623 | 59 | ||||||
Class R-6 | 203 | 12 | ||||||
Class Y | 179 | N/A | ||||||
Growth & Income Fund | ||||||||
Class A | 3,491,242 | 7,622,797 | ||||||
Class C | 4,176,701 | 9,453,020 | ||||||
Class I | 5,955,589 | 9,299,716 | ||||||
Class R-3 | 56,017 | 133,019 | ||||||
Class R-5 | 10,281 | 17,227 | ||||||
Class R-6 | 969,982 | 1,771,834 | ||||||
Class Y | 242 | N/A |
54 |
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Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
Distributions from net realized gains (cont’d) | 11/1/17 to 4/30/18 | Period ending 10/31/17** | ||||||
Mid Cap Growth Fund | ||||||||
Class A | $12,380,645 | $— | ||||||
Class C | 4,881,431 | — | ||||||
Class I | 20,213,403 | — | ||||||
Class R-3 | 875,312 | — | ||||||
Class R-5 | 10,187,891 | — | ||||||
Class R-6 | 20,155,252 | — | ||||||
Class Y | 250 | N/A | ||||||
Mid Cap Stock Fund | ||||||||
Class A | 5,571,774 | 9,063,060 | ||||||
Class C | 5,342,735 | 8,860,065 | ||||||
Class I | 2,804,999 | 3,459,045 | ||||||
Class R-3 | 63,855 | 109,122 | ||||||
Class R-5 | 13,587 | 15,755 | ||||||
Class R-6 | 38,113 | 39,211 | ||||||
Class Y | 464 | N/A | ||||||
Small Cap Growth Fund | ||||||||
Class A | 48,179,886 | 25,774,205 | ||||||
Class C | 16,819,785 | 6,681,303 | ||||||
Class I | 124,152,495 | 39,849,621 | ||||||
Class R-3 | 7,662,535 | 3,012,673 | ||||||
Class R-5 | 35,062,954 | 13,984,353 | ||||||
Class R-6 | 149,519,961 | 36,117,862 | ||||||
Class Y | 733 | N/A | ||||||
Smaller Company Fund | ||||||||
Class A | 1,460,308 | 1,475,728 | ||||||
Class C | 1,874,240 | 1,831,245 | ||||||
Class I | 785,232 | 811,665 | ||||||
Class R-3 | 47,675 | 42,823 | ||||||
Class R-5 | 4,509 | 3,692 | ||||||
Class R-6 | 272,357 | 233,473 | ||||||
Class Y | 879 | N/A | ||||||
International Fund | ||||||||
Class A | 1,502 | N/A | ||||||
Class C | 1,502 | N/A | ||||||
Class I | 167,674,543 | — | ||||||
Class R-3 | 1,502 | N/A | ||||||
Class R-5 | 1,502 | N/A | ||||||
Class R-6 | 1,502 | N/A | ||||||
Class Y | 1,502 | N/A |
Distributions from net realized gains (cont’d) | 11/1/17 to 4/30/18 | Period ending 10/31/17** | ||||||
Mid Cap Fund | ||||||||
Class A | $3,295 | N/A | ||||||
Class C | 1,824 | N/A | ||||||
Class I | 136,765,518 | $— | ||||||
Class R-3 | 763 | N/A | ||||||
Class R-5 | 763 | N/A | ||||||
Class R-6 | 763 | N/A | ||||||
Class Y | 1,820 | N/A | ||||||
Small Cap Fund | ||||||||
Class A | 930 | N/A | ||||||
Class C | 930 | N/A | ||||||
Class I | 25,734,315 | — | ||||||
Class R-3 | 930 | N/A | ||||||
Class R-5 | 930 | N/A | ||||||
Class R-6 | 930 | N/A | ||||||
Class Y | 930 | N/A | ||||||
**The data listed is for the fiscal year ended October 31, 2017 for all funds except the International Fund, Mid Cap Fund and Small Cap Fund, for which the data is for the period July 1, 2017 to October 31, 2017. For the fiscal year ended June 30, 2017, the Class I shares of the International Fund, Mid Cap Fund, Small Cap Fund, Core Bond Fund and Core Plus Bond Fund distributed net realized gains of $178,101,157, $23,066,072, $9,176,002, $4,146,390 and $19,296,101, respectively; the Class Y shares of the Core Bond Fund and Core Plus Bond Fund distributed net realized gains of $62,620 and $1,508,032, respectively. |
|
Other | In the normal course of business the Funds enter into contracts that contain a variety of representations and warranties which provide general indemnifications. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds and/or their affiliates that have not yet occurred. However, based on experience, the risk of loss to each Fund is expected to be remote.
NOTE 3 | Purchases and sales of securities | For the period ended April 30, 2018, purchases and sales of investment securities (excluding short-term obligations) were as follows:
Purchases | Sales | |||||||
Capital Appreciation Fund | $102,486,816 | $53,846,555 | ||||||
International Stock Fund | 4,937,343 | 3,550,820 | ||||||
Tactical Allocation Fund | 9,072,908 | 9,765,848 | ||||||
Growth & Income Fund | 41,001,267 | 64,205,509 | ||||||
Mid Cap Growth Fund | 1,136,686,487 | 399,011,137 | ||||||
Mid Cap Stock Fund | 54,539,563 | 84,197,021 | ||||||
Small Cap Growth Fund | 740,830,794 | 986,643,557 | ||||||
Smaller Company Fund | 44,841,752 | 50,864,247 | ||||||
International Fund | 45,960,213 | 200,274,882 | ||||||
Mid Cap Fund | 1,178,671,433 | 848,940,565 | ||||||
Small Cap Fund | 32,630,516 | 53,488,092 |
55 |
Table of Contents
Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
(cont’d) | Purchases | Sales | ||||||
Core Bond Fund | ||||||||
Debt securities | $ 108,919,875 | $ 129,008,107 | ||||||
U.S. Treasury securities | 148,277,099 | 150,859,794 | ||||||
Core Plus Bond Fund | ||||||||
Debt securities | 638,228,418 | 683,624,877 | ||||||
U.S. Treasury securities | 984,961,968 | 1,005,269,570 | ||||||
Unconstrained Bond Fund | ||||||||
Debt securities | 283,349,083 | 315,798,106 | ||||||
U.S. Treasury securities | 1,443,004,855 | 1,003,892,836 |
The cost basis of investments for federal income tax purposes at April 30, 2018 were as follows*:
Capital Appreciation Fund | International Stock Fund | Tactical Allocation Fund | Growth & Income Fund | |||||||||||||
Cost of investments | $283,518,085 | $17,252,210 | $15,927,962 | $387,913,490 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Gross unrealized appreciation | 172,444,462 | 3,211,443 | 494,468 | 191,769,838 | ||||||||||||
Gross unrealized depreciation | (1,961,305 | ) | (638,222 | ) | (110,511 | ) | (1,687,465 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net unrealized appreciation/(depreciation) | $170,483,157 | $2,573,221 | $383,957 | $190,082,373 | ||||||||||||
|
|
|
|
|
|
|
|
Mid Cap Growth Fund | Mid Cap Stock Fund | Small Cap Growth Fund | Smaller Company Fund | |||||||||||||
Cost of investments | $2,454,374,514 | $164,739,675 | $3,520,398,622 | $40,374,894 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Gross unrealized appreciation | 782,013,747 | 69,953,831 | 1,670,972,695 | 2,369,874 | ||||||||||||
Gross unrealized depreciation | (45,875,950 | ) | (1,163,542 | ) | (147,968,801 | ) | (1,648,878 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net unrealized appreciation/(depreciation) | $736,137,797 | $68,790,289 | $1,523,003,894 | $720,996 | ||||||||||||
|
|
|
|
|
|
|
|
International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | |||||||||||||
Cost of investments | $635,019,891 | $1,715,587,272 | $166,698,872 | $130,859,096 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Gross unrealized appreciation | 387,492,900 | 375,494,533 | 106,483,285 | 210,055 | ||||||||||||
Gross unrealized depreciation | (32,631,510 | ) | (42,702,675 | ) | (12,930,670 | ) | (2,059,974 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net unrealized appreciation/(depreciation) | $354,861,390 | $332,791,858 | $93,552,615 | $(1,849,919 | ) | |||||||||||
|
|
|
|
|
|
|
|
Core Plus Bond Fund | Unconstrained Bond Fund | |||||||
Cost of investments | $758,932,890 | $1,591,209,433 | ||||||
|
|
|
| |||||
Gross unrealized appreciation | 1,744,374 | 2,799,933 | ||||||
Gross unrealized depreciation | (13,334,783 | ) | (25,720,943 | ) | ||||
|
|
|
| |||||
Net unrealized appreciation/(depreciation) | $(11,590,409 | ) | $(22,921,010 | ) | ||||
|
|
|
| |||||
* Because tax adjustments are calculated annually at the end of the Funds’ fiscal year, the above table does not reflect tax adjustments for the current fiscal year. |
|
For the previous year’s federal income tax information, please refer to the Notes to the Financial Statements section in the Funds’ most recent annual report.
NOTE 4 | Investment advisory fees and other transactions with affiliates | Each Fund has agreed to pay to the Manager an investment advisory and an administrative fee equal to an annualized rate based on a percentage of each Fund’s average daily net assets, computed daily and payable monthly. For advisory services provided by the Manager, the investment advisory rate for each Fund is as follows:
Investment advisory fee rate schedule | Breakpoint | Investment advisory fee | ||||||
Capital Appreciation Fund | | First $1 billion Over $1 billion |
| | 0.60 0.55 | % % | ||
International Stock Fund | All assets | 0.70 | % | |||||
Tactical Allocation Fund | All assets | 0.57 | % | |||||
Growth & Income Fund | First $100 million | 0.60 | % | |||||
$100 million to $500 million | 0.45 | % | ||||||
Over $500 million | 0.40 | % | ||||||
Mid Cap Growth Fund, Mid Cap | First $500 million | 0.60 | % | |||||
Stock Fund, Small Cap Growth | $500 million to $1 billion | 0.55 | % | |||||
Fund, Smaller Company Fund, Small Cap Fund* | Over $1 billion | 0.50 | % | |||||
International Fund, Mid Cap Fund | | First $1 billion Over $1 billion |
| | 0.80 0.70 | % % | ||
Core Bond Fund, Core Plus Bond Fund | All assets | 0.40 | % | |||||
Unconstrained Bond Fund | First $3 billion | 0.60 | % | |||||
Over $3 billion | 0.55 | % | ||||||
* Prior to the Board approved change effective March 1, 2018, the investment advisory fee for the Small Cap Fund was 0.75% on the first $1 billion assets and 0.65% on assets over $1 billion. |
|
For administrative services provided by the Manager, each Fund has agreed to pay an administrative rate of 0.10% of the average daily net assets of all share classes. Prior to the Board approved change effective November 20, 2017, the Capital Appreciation Fund, International Stock Fund, Tactical Allocation Fund, Growth & Income Fund, Mid Cap Growth Fund, Mid Cap Stock Fund, Small Cap Growth Fund, and Smaller Company Fund paid an administrative rate of 0.15% of the average daily net assets of Class A, Class C and Class R-3 shares and 0.10% of the average daily net assets of Class I, Class R-5 and Class R-6 shares.
Subadvisory fees | The Manager has entered into subadvisory agreements with certain parties to provide investment advice, portfolio management services (including the placement of brokerage orders), certain compliance and other services to the Funds.
56 |
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Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
The Manager entered into subadvisory agreements with ClariVest Asset Management LLC (“ClariVest”), an affiliate of Carillon Tower, to serve as subadviser for the Capital Appreciation Fund and the International Stock Fund. Under these agreements, Carillon Tower pays ClariVest annualized rates according to the following payment schedule:
Investment subadvisory fee rate schedule | Breakpoint | Investment subadvisory fee | ||||||
Capital Appreciation Fund* | | First $1 billion Over $1 billion |
| | 0.60 0.55 | % % | ||
International Stock Fund | All assets | 0.70 | % | |||||
* Prior to the Board approved change effective March 1, 2018 Carillon Tower paid ClariVest an annualized rate 0.60% on all assets. |
|
The Manager entered into a subadvisory agreement with Cougar Global Investments Limited (“Cougar Global”), an affiliate of Carillon Tower, to serve as subadviser for the Tactical Allocation Fund. Under this agreement, Carillon Tower pays Cougar Global an annualized rate of 0.57% on all assets as a percentage of the Fund’s average daily net assets, computed daily and payable monthly for the Tactical Allocation Fund.
The Manager entered into a subadvisory agreement with Eagle Asset Management, Inc. (“Eagle”), an affiliate of Carillon Tower, to serve as subadviser for the Growth & Income Fund, Mid Cap Growth Fund, Mid Cap Stock Fund, and Small Cap Growth Fund. Under this agreement, Carillon Tower pays Eagle annualized rates according to the following payment schedule:
Investment subadvisory fee rate schedule | Breakpoint | Investment subadvisory fee | ||||||
Growth & Income Fund | First $100 million | 0.60 | % | |||||
$100 million to $500 million | 0.45 | % | ||||||
Over $500 million | 0.40 | % | ||||||
Mid Cap Growth Fund, Mid Cap | First $500 million | 0.60 | % | |||||
Stock Fund, Small Cap Growth | $500 million to $1 billion | 0.55 | % | |||||
Fund | Over $1 billion | 0.50 | % |
The Manager entered into a subadvisory agreement with Scout Investments, Inc. (“Scout”), an affiliate of Carillon Tower, to serve as subadviser for the Smaller Company Fund, International Fund, Mid Cap Fund, Small Cap Fund, Core Bond Fund, Core Plus Bond Fund, and Unconstrained Bond Fund. Under this agreement, Carillon Tower pays Scout annualized rates according to the following payment schedule:
Investment subadvisory fee rate schedule | Breakpoint | Investment subadvisory fee | ||||
Smaller Company Fund*, Small Cap Fund** | First $500 million | 0.60 | % | |||
$500 million to $1 billion | 0.55 | % | ||||
Over $1 billion | 0.50 | % | ||||
International Fund, Mid Cap Fund | First $1 billion Over $1 billion | | 0.80 0.70 | % % | ||
Core Bond Fund, Core Plus Bond Fund | All assets | 0.40 | % | |||
Unconstrained Bond Fund | First $3 billion | 0.60 | % | |||
Over $3 billion | 0.55 | % | ||||
* Prior to Board approved change effective March 1, 2018, the Smaller Company Fund was subadvised by Eagle. |
| |||||
** Prior to the Board approved change effective March 1, 2018, the investment subadvisory fee for the Small Cap Fund was 0.75% on the first $1 billion assets and 0.65% on assets over $1 billion. |
|
Distribution and service fees | Pursuant to the Class A, Class C, Class R-3 and Class Y Distribution plans and in accordance with Rule 12b-1 of the Investment Company Act of 1940, as amended (“Rule 12b-1 Plans”), the Funds are authorized to pay Carillon Fund Distributors, Inc. (“Distributor”), an affiliate of the Manager, a fee based on the average daily net assets for each class of shares, accrued daily and payable monthly. Each Fund of the Carillon Series Trust is authorized to pay the Distributor distribution and service fees of up to 0.35% of that fund’s average daily net assets attributable to Class A shares of that fund. The Capital Appreciation Fund and the Growth & Income Fund are authorized to pay the Distributor distribution and service fees of up to 0.50% of those Funds’ average daily net assets attributable to Class A shares of those Funds. Currently, the distribution and service fee is 0.25% for Class A shares of each Fund. Each Fund also is authorized, and currently pays, the Distributor distribution and service fees of 1.00% for Class C shares, 0.50% for Class R-3 shares, and 0.25% for Class Y shares. The Funds do not incur any distribution expenses related to Class I, Class R-5 or Class R-6 shares. However, Carillon Tower or any third party may make payments for the sale and distribution of all share classes, including Class I, Class R-5 or Class R-6 shares, from its own resources.
Sales charges | For the period ended April 30, 2018, total front-end sales charges and CDSCs paid to the Distributor were as follows:
Front-end sales charge | Contingent deferred sales charges | |||||||||||
Class A | Class A | Class C | ||||||||||
Capital Appreciation Fund | $53,022 | $— | $45 | |||||||||
International Stock Fund | 14,056 | — | 124 | |||||||||
Tactical Allocation Fund | 5,228 | — | — | |||||||||
Growth & Income Fund | 63,635 | — | 1,524 | |||||||||
Mid Cap Growth Fund | 310,561 | — | 1,128 | |||||||||
Mid Cap Stock Fund | 9,445 | — | 199 | |||||||||
Small Cap Growth Fund | 67,818 | — | 669 | |||||||||
Smaller Company Fund | 4,437 | — | — | |||||||||
International Fund | 24 | — | — | |||||||||
Mid Cap Fund | 40,830 | — | — | |||||||||
Small Cap Fund | 803 | — | — | |||||||||
Core Bond Fund | 2 | — | — | |||||||||
Core Plus Bond Fund | 5 | — | — | |||||||||
Unconstrained Bond Fund | 1 | — | — |
The Distributor paid commissions to salespersons from these fees and incurred other distribution costs.
57 |
Table of Contents
Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
Agency commissions | During the period ended April 30, 2018, total agency brokerage commissions paid and agency brokerage commissions paid directly to Raymond James & Associates, Inc. (“RJA”), an affiliate of the Manager, were as follows:
Total agency brokerage commissions | Paid to Raymond James & Associates, Inc. | |||||||
Capital Appreciation Fund | $29,841 | $— | ||||||
International Stock Fund | 4,243 | — | ||||||
Tactical Allocation Fund | 1,591 | — | ||||||
Growth & Income Fund | 59,413 | — | ||||||
Mid Cap Growth Fund | 465,694 | 63,019 | ||||||
Mid Cap Stock Fund | 34,534 | — | ||||||
Small Cap Growth Fund | 792,105 | 32,373 | ||||||
Smaller Company Fund | 24,282 | — | ||||||
International Fund | 332,122 | — | ||||||
Mid Cap Fund | 1,055,972 | — | ||||||
Small Cap Fund | 47,274 | — | ||||||
Core Bond Fund | — | — | ||||||
Core Plus Bond Fund | 2,924 | — | ||||||
Unconstrained Bond Fund | 8,460 | — |
Internal audit fees | RJA provides internal audit services to the Funds. Each Fund pays RJA a fixed and/or hourly fee for these services.
Shareholder servicing fees | Carillon Fund Services, Inc. (“CFS”), an affiliate of the Manager, is the shareholder servicing agent for each of the Funds. CFS’ actual cost of providing such services is reimbursed by the Funds on a pro-rata basis of each Fund’s relative total net assets. The amount of shareholder servicing fees charged to the Funds were as follows:
Shareholder servicing fees | 11/1/17 to 4/30/18 | |||
Capital Appreciation Fund Class A | $1,023 | |||
Capital Appreciation Fund Class C | 295 | |||
Capital Appreciation Fund Class I | 944 | |||
Capital Appreciation Fund Class R-3 | 8 | |||
Capital Appreciation Fund Class R-5 | 15 | |||
Capital Appreciation Fund Class R-6 | — | |||
Capital Appreciation Fund Class Y | — | |||
International Stock Fund Class A | 34 | |||
International Stock Fund Class C | 27 | |||
International Stock Fund Class I | 52 | |||
International Stock Fund Class R-3 | 5 | |||
International Stock Fund Class R-5 | — | |||
International Stock Fund Class R-6 | — | |||
International Stock Fund Class Y | — | |||
Tactical Allocation Fund Class A | 10 | |||
Tactical Allocation Fund Class C | 11 | |||
Tactical Allocation Fund Class I | 77 | |||
Tactical Allocation Fund Class R-3 | — |
Shareholder servicing fees (cont’d) | 11/1/17 to 4/30/18 | |||
Tactical Allocation Fund Class R-5 | $ — | |||
Tactical Allocation Fund Class R-6 | — | |||
Tactical Allocation Fund Class Y | — | |||
Growth & Income Fund Class A | 908 | |||
Growth & Income Fund Class C | 929 | |||
Growth & Income Fund Class I | 1,472 | |||
Growth & Income Fund Class R-3 | 14 | |||
Growth & Income Fund Class R-5 | 3 | |||
Growth & Income Fund Class R-6 | — | |||
Growth & Income Fund Class Y | — | |||
Mid Cap Growth Fund Class A | 2,907 | |||
Mid Cap Growth Fund Class C | 840 | |||
Mid Cap Growth Fund Class I | 5,128 | |||
Mid Cap Growth Fund Class R-3 | 193 | |||
Mid Cap Growth Fund Class R-5 | 2,580 | |||
Mid Cap Growth Fund Class R-6 | — | |||
Mid Cap Growth Fund Class Y | — | |||
Mid Cap Stock Fund Class A | 756 | |||
Mid Cap Stock Fund Class C | 372 | |||
Mid Cap Stock Fund Class I | 357 | |||
Mid Cap Stock Fund Class R-3 | 7 | |||
Mid Cap Stock Fund Class R-5 | 2 | |||
Mid Cap Stock Fund Class R-6 | — | |||
Mid Cap Stock Fund Class Y | — | |||
Small Cap Growth Fund Class A | 3,706 | |||
Small Cap Growth Fund Class C | 907 | |||
Small Cap Growth Fund Class I | 9,663 | |||
Small Cap Growth Fund Class R-3 | 561 | |||
Small Cap Growth Fund Class R-5 | 2,766 | |||
Small Cap Growth Fund Class R-6 | — | |||
Small Cap Growth Fund Class Y | — | |||
Smaller Company Fund Class A | 86 | |||
Smaller Company Fund Class C | 99 | |||
Smaller Company Fund Class I | 50 | |||
Smaller Company Fund Class R-3 | 3 | |||
Smaller Company Fund Class R-5 | — | |||
Smaller Company Fund Class R-6 | — | |||
Smaller Company Fund Class Y | — | |||
International Fund Class A | — | |||
International Fund Class C | — | |||
International Fund Class I | 5,324 | |||
International Fund Class R-3 | — | |||
International Fund Class R-5 | — |
58 |
Table of Contents
Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
Shareholder servicing fees (cont’d) | 11/1/17 to 4/30/18 | |||
International Fund Class R-6 | $ — | |||
International Fund Class Y | — | |||
Mid Cap Fund Class A | 3 | |||
Mid Cap Fund Class C | 4 | |||
Mid Cap Fund Class I | 9,856 | |||
Mid Cap Fund Class R-3 | — | |||
Mid Cap Fund Class R-5 | — | |||
Mid Cap Fund Class R-6 | — | |||
Mid Cap Fund Class Y | — | |||
Small Cap Fund Class A | — | |||
Small Cap Fund Class C | — | |||
Small Cap Fund Class I | 1,357 | |||
Small Cap Fund Class R-3 | — | |||
Small Cap Fund Class R-5 | — | |||
Small Cap Fund Class R-6 | — | |||
Small Cap Fund Class Y | — | |||
Core Bond Fund Class A | 1 | |||
Core Bond Fund Class C | 1 | |||
Core Bond Fund Class I | 582 | |||
Core Bond Fund Class R-3 | — | |||
Core Bond Fund Class R-5 | — | |||
Core Bond Fund Class R-6 | — | |||
Core Bond Fund Class Y | 11 | |||
Core Plus Bond Fund Class A | — | |||
Core Plus Bond Fund Class C | 1 | |||
Core Plus Bond Fund Class I | 3,456 | |||
Core Plus Bond Fund Class R-3 | — | |||
Core Plus Bond Fund Class R-5 | — | |||
Core Plus Bond Fund Class R-6 | — | |||
Core Plus Bond Fund Class Y | 123 | |||
Unconstrained Bond Fund Class A | — | |||
Unconstrained Bond Fund Class C | — | |||
Unconstrained Bond Fund Class I | 7,482 | |||
Unconstrained Bond Fund Class R-3 | — | |||
Unconstrained Bond Fund Class R-5 | — | |||
Unconstrained Bond Fund Class R-6 | — | |||
Unconstrained Bond Fund Class Y | 296 |
Expense limitations | Carillon Tower has contractually agreed to reduce its fees and/or reimburse expenses to each class of the Funds to the extent that the annual operating expense ratio for each class of shares exceeds the following annualized ratios as a percentage of average daily net assets of each class of shares.
Expense limitations rate schedule | Class A | Class C | Class I | Class R-3 | ||||||||||||
Capital Appreciation Fund* | 1.00 | % | 1.75 | % | 0.70 | % | 1.25 | % | ||||||||
International Stock Fund | 1.45 | % | 2.20 | % | 1.15 | % | 1.70 | % | ||||||||
Tactical Allocation Fund | 1.17 | % | 1.92 | % | 0.87 | % | 1.42 | % | ||||||||
Growth & Income Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % | ||||||||
Mid Cap Growth Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % | ||||||||
Mid Cap Stock Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % | ||||||||
Small Cap Growth Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % | ||||||||
Smaller Company Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % | ||||||||
International Fund | 1.45 | % | 2.20 | % | 1.15 | % | 1.70 | % | ||||||||
Mid Cap Fund | 1.45 | % | 2.20 | % | 1.15 | % | 1.70 | % | ||||||||
Small Cap Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % | ||||||||
Core Bond Fund | 0.80 | % | 1.55 | % | 0.40 | % | 1.05 | % | ||||||||
Core Plus Bond Fund | 0.80 | % | 1.55 | % | 0.40 | % | 1.05 | % | ||||||||
Unconstrained Bond Fund | 0.80 | % | 1.55 | % | 0.50 | % | 1.05 | % | ||||||||
Expense limitations rate schedule (cont’d) | Class R-5 | Class R-6 | Class Y | |||||||||||||
Capital Appreciation Fund* | 0.70 | % | 0.60 | % | 1.00 | % | ||||||||||
International Stock Fund | 1.15 | % | 1.05 | % | 1.45 | % | ||||||||||
Tactical Allocation Fund | 0.87 | % | 0.77 | % | 1.17 | % | ||||||||||
Growth & Income Fund | 0.95 | % | 0.85 | % | 1.25 | % | ||||||||||
Mid Cap Growth Fund | 0.95 | % | 0.85 | % | 1.25 | % | ||||||||||
Mid Cap Stock Fund | 0.95 | % | 0.85 | % | 1.25 | % | ||||||||||
Small Cap Growth Fund | 0.95 | % | 0.85 | % | 1.25 | % | ||||||||||
Smaller Company Fund | 0.95 | % | 0.85 | % | 1.25 | % | ||||||||||
International Fund | 1.15 | % | 1.05 | % | 1.45 | % | ||||||||||
Mid Cap Fund | 1.15 | % | 1.05 | % | 1.45 | % | ||||||||||
Small Cap Fund | 0.95 | % | 0.85 | % | 1.25 | % | ||||||||||
Core Bond Fund | 0.50 | % | 0.40 | % | 0.80 | % | ||||||||||
Core Plus Bond Fund | 0.50 | % | 0.40 | % | 0.80 | % | ||||||||||
Unconstrained Bond Fund | 0.50 | % | 0.40 | % | 0.80 | % | ||||||||||
* Prior to the Board approved changes effective January 1, 2018, the expense limitation rate schedule for the Capital Appreciation Fund was as follows: |
|
Expense limitations rate schedule | Class A | Class C | Class I | Class R-3 | ||||||||||||
Capital Appreciation Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % |
Expense limitations rate schedule (cont’d) | Class R-5 | Class R-6 | Class Y | |||||||||
Capital Appreciation Fund | 0.95 | % | 0.85 | % | 1.25 | % |
Fees and expenses waived and/or reimbursed based on the expense rate limitation schedule were as follows:
Expenses waived and/or reimbursed | 11/1/17 to 4/30/18 | |||
Capital Appreciation Fund | $127,221 | |||
Capital Appreciation Fund Class A | 14,402 | |||
Capital Appreciation Fund Class C | 12,328 | |||
Capital Appreciation Fund Class I | 31,733 |
59 |
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Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
Expenses waived and/or reimbursed (cont’d) | 11/1/17 to 4/30/18 | |||
Capital Appreciation Fund Class R-3 | $ 342 | |||
Capital Appreciation Fund Class R-5 | 987 | |||
Capital Appreciation Fund Class R-6 | 16,027 | |||
Capital Appreciation Fund Class Y | 23 | |||
International Stock Fund | 137,482 | |||
International Stock Fund Class A | 2,876 | |||
International Stock Fund Class C | 4,435 | |||
International Stock Fund Class I | 5,025 | |||
International Stock Fund Class R-3 | 829 | |||
International Stock Fund Class R-5 | 31 | |||
International Stock Fund Class R-6 | 50 | |||
International Stock Fund Class Y | 26 | |||
Tactical Allocation Fund | 108,459 | |||
Tactical Allocation Fund Class A | 844 | |||
Tactical Allocation Fund Class C | 1,011 | |||
Tactical Allocation Fund Class I | 11,188 | |||
Tactical Allocation Fund Class R-3 | 22 | |||
Tactical Allocation Fund Class R-5 | 49 | |||
Tactical Allocation Fund Class R-6 | 29 | |||
Tactical Allocation Fund Class Y | 26 | |||
Growth & Income Fund Class Y | 9 | |||
Mid Cap Growth Fund Class Y | 4 | |||
Mid Cap Stock Fund Class R-3 | 164 | |||
Mid Cap Stock Fund Class R-5 | 124 | |||
Mid Cap Stock Fund Class R-6 | 48 | |||
Mid Cap Stock Fund Class Y | 25 | |||
Small Cap Growth Fund Class Y | 11 | |||
Smaller Company Fund | 92,809 | |||
Smaller Company Fund Class A | 11,862 | |||
Smaller Company Fund Class C | 8,892 | |||
Smaller Company Fund Class I | 6,940 | |||
Smaller Company Fund Class R-3 | 428 | |||
Smaller Company Fund Class R-5 | 65 | |||
Smaller Company Fund Class R-6 | 2,097 | |||
Smaller Company Fund Class Y | 32 | |||
International Fund Class A | 3 | |||
International Fund Class R-3 | 11 | |||
International Fund Class R-5 | 13 | |||
International Fund Class R-6 | 17 | |||
International Fund Class Y | 11 | |||
Mid Cap Fund Class R-5 | 9 | |||
Small Cap Fund Class A | 6 | |||
Small Cap Fund Class C | 7 | |||
Small Cap Fund Class I | 74,202 |
Expenses waived and/or reimbursed (cont’d) | 11/1/17 to 4/30/18 | |||
Small Cap Fund Class R-3 | $ 17 | |||
Small Cap Fund Class R-5 | 19 | |||
Small Cap Fund Class R-6 | 24 | |||
Small Cap Fund Class Y | 29 | |||
Core Bond Fund | 132,503 | |||
Core Bond Fund Class A | 109 | |||
Core Bond Fund Class C | 105 | |||
Core Bond Fund Class I | 128,763 | |||
Core Bond Fund Class R-3 | 19 | |||
Core Bond Fund Class R-5 | 23 | |||
Core Bond Fund Class R-6 | 27 | |||
Core Bond Fund Class Y | 1,517 | |||
Core Plus Bond Fund | 209,119 | |||
Core Plus Bond Fund Class A | 29 | |||
Core Plus Bond Fund Class C | 80 | |||
Core Plus Bond Fund Class I | 457,367 | |||
Core Plus Bond Fund Class R-3 | 21 | |||
Core Plus Bond Fund Class R-5 | 23 | |||
Core Plus Bond Fund Class R-6 | 27 | |||
Core Plus Bond Fund Class Y | 6,448 | |||
Unconstrained Bond Fund | 1,873,877 | |||
Unconstrained Bond Fund Class A | 24 | |||
Unconstrained Bond Fund Class C | 36 | |||
Unconstrained Bond Fund Class I | 459,083 | |||
Unconstrained Bond Fund Class R-3 | 20 | |||
Unconstrained Bond Fund Class R-5 | 23 | |||
Unconstrained Bond Fund Class R-6 | 27 | |||
Unconstrained Bond Fund Class Y | 22,080 |
A portion or all of a Fund’s fees and expenses reduced and/or reimbursed by the Manager in prior fiscal years may be recoverable by Carillon Tower prior to their expiration date. Carillon Tower must recover from the same class of shares any previously reduced and/or reimbursed fees and expenses within two years from the Fund’s fiscal year-end during which the fees and expenses were originally reduced and/or reimbursed. Previously reduced and/or reimbursed fees and expenses are recovered by Carillon Tower when expenses in the current fiscal year fall below the expense rate limitation then in effect. The following table shows the amounts that Carillon Tower may be allowed to recover by class of shares and the date in which these amounts will expire:
Recoverable expenses | 10/31/2020 | 10/31/2019 | 10/31/2018 | |||||||||
Capital Appreciation Fund | $127,221 | $— | $— | |||||||||
Capital Appreciation Fund Class A | 14,402 | — | — | |||||||||
Capital Appreciation Fund Class C | 12,328 | — | — | |||||||||
Capital Appreciation Fund Class I | 31,733 | — | — | |||||||||
Capital Appreciation Fund Class R-3 | 342 | 424 | — | |||||||||
Capital Appreciation Fund Class R-5 | 987 | — | — | |||||||||
Capital Appreciation Fund Class R-6 | 16,027 | — | — | |||||||||
Capital Appreciation Fund Class Y | 23 | N/A | N/A |
60 |
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Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
Recoverable expenses (cont’d) | 10/31/2020 | 10/31/2019 | 10/31/2018 | |||||||||
International Stock Fund | $ 137,482 | $ 318,472 | $ 342,061 | |||||||||
International Stock Fund Class A | 2,876 | 5,471 | — | |||||||||
International Stock Fund Class C | 4,435 | 8,001 | — | |||||||||
International Stock Fund Class I | 5,025 | 7,594 | 6,353 | |||||||||
International Stock Fund Class R-3 | 829 | 1,682 | 103 | |||||||||
International Stock Fund Class R-5 | 31 | 49 | 59 | |||||||||
International Stock Fund Class R-6 | 50 | 74 | 42 | |||||||||
International Stock Fund Class Y | 26 | N/A | N/A | |||||||||
Tactical Allocation Fund | 108,459 | 278,988 | 335,970 | |||||||||
Tactical Allocation Fund Class A | 844 | 2,731 | 7,408 | |||||||||
Tactical Allocation Fund Class C | 1,011 | 2,441 | 1,451 | |||||||||
Tactical Allocation Fund Class I | 11,188 | 19,305 | 2,263 | |||||||||
Tactical Allocation Fund Class R-3 | 22 | 11 | 95 | |||||||||
Tactical Allocation Fund Class R-5 | 49 | 64 | 91 | |||||||||
Tactical Allocation Fund Class R-6 | 29 | 16 | 98 | |||||||||
Tactical Allocation Fund Class Y | 26 | N/A | N/A | |||||||||
Growth & Income Fund Class Y | 9 | N/A | N/A | |||||||||
Mid Cap Growth Fund Class Y | 4 | N/A | N/A | |||||||||
Mid Cap Stock Fund Class C | — | 9,429 | — | |||||||||
Mid Cap Stock Fund Class I | — | 4,802 | 17,479 | |||||||||
Mid Cap Stock Fund Class R-3 | 164 | 1,256 | — | |||||||||
Mid Cap Stock Fund Class R-5 | 124 | 268 | 299 | |||||||||
Mid Cap Stock Fund Class R-6 | 48 | 91 | 219 | |||||||||
Mid Cap Stock Fund Class Y | 25 | N/A | N/A | |||||||||
Small Cap Growth Fund Class Y | 11 | N/A | N/A | |||||||||
Smaller Company Fund | 92,809 | 202,135 | 199,163 | |||||||||
Smaller Company Fund Class A | 11,862 | 21,199 | — | |||||||||
Smaller Company Fund Class C | 8,892 | 17,645 | — | |||||||||
Smaller Company Fund Class I | 6,940 | 14,932 | 19,684 | |||||||||
Smaller Company Fund Class R-3 | 428 | 719 | 296 | |||||||||
Smaller Company Fund Class R-5 | 65 | 111 | 62 | |||||||||
Smaller Company Fund Class R-6 | 2,097 | 3,298 | 9,014 | |||||||||
Smaller Company Fund Class Y | 32 | N/A | N/A | |||||||||
International Fund Class A | 3 | N/A | N/A | |||||||||
International Fund Class R-3 | 11 | N/A | N/A | |||||||||
International Fund Class R-5 | 13 | N/A | N/A | |||||||||
International Fund Class R-6 | 17 | N/A | N/A | |||||||||
International Fund Class Y | 11 | N/A | N/A | |||||||||
Mid Cap Fund Class R-5 | 9 | N/A | N/A | |||||||||
Small Cap Fund Class A | 6 | N/A | N/A | |||||||||
Small Cap Fund Class C | 7 | N/A | N/A | |||||||||
Small Cap Fund Class I | 74,202 | N/A | N/A | |||||||||
Small Cap Fund Class R-3 | 17 | N/A | N/A | |||||||||
Small Cap Fund Class R-5 | 19 | N/A | N/A |
Recoverable expenses (cont’d) | 10/31/2020 | 10/31/2019 | 10/31/2018 | |||||||||
Small Cap Fund Class R-6 | $ 24 | N/A | N/A | |||||||||
Small Cap Fund Class Y | 29 | N/A | N/A | |||||||||
Core Bond Fund* | 127,437 | N/A | N/A | |||||||||
Core Bond Fund Class A | 109 | N/A | N/A | |||||||||
Core Bond Fund Class C | 105 | N/A | N/A | |||||||||
Core Bond Fund Class I* | 123,152 | N/A | N/A | |||||||||
Core Bond Fund Class R-3 | 19 | N/A | N/A | |||||||||
Core Bond Fund Class R-5 | 23 | N/A | N/A | |||||||||
Core Bond Fund Class R-6 | 27 | N/A | N/A | |||||||||
Core Bond Fund Class Y | 1,517 | N/A | N/A | |||||||||
Core Plus Bond Fund* | 179,085 | N/A | N/A | |||||||||
Core Plus Bond Fund Class A | 29 | N/A | N/A | |||||||||
Core Plus Bond Fund Class C | 80 | N/A | N/A | |||||||||
Core Plus Bond Fund Class I* | 433,932 | N/A | N/A | |||||||||
Core Plus Bond Fund Class R-3 | 21 | N/A | N/A | |||||||||
Core Plus Bond Fund Class R-5 | 23 | N/A | N/A | |||||||||
Core Plus Bond Fund Class R-6 | 27 | N/A | N/A | |||||||||
Core Plus Bond Fund Class Y | 6,448 | N/A | N/A | |||||||||
Unconstrained Bond Fund* | 1,811,306 | N/A | N/A | |||||||||
Unconstrained Bond Fund Class A | 24 | N/A | N/A | |||||||||
Unconstrained Bond Fund Class C | 36 | N/A | N/A | |||||||||
Unconstrained Bond Fund Class I | 459,083 | N/A | N/A | |||||||||
Unconstrained Bond Fund Class R-3 | 20 | N/A | N/A | |||||||||
Unconstrained Bond Fund Class R-5 | 23 | N/A | N/A | |||||||||
Unconstrained Bond Fund Class R-6 | 27 | N/A | N/A | |||||||||
Unconstrained Bond Fund Class Y | 22,080 | N/A | N/A | |||||||||
* Fees waived in the Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund prior to the reorganization on November 20, 2017 are not eligible to be recovered by Carillon Tower. There were no fees waived in the International Fund, Mid Cap Fund or Small Cap Fund prior to the reorganization on November 20, 2017. |
|
The Manager recovered previously waived expenses during the current period as follows:
Recovered fees previously waived | 11/1/17 to 4/30/18 | |||
Mid Cap Stock Fund Class A | $16,971 | |||
Mid Cap Stock Fund Class C | 8,184 | |||
Mid Cap Stock Fund Class I | 2,798 |
Trustees and officers compensation | Each Trustee of the Carillon Family of Funds who is not an employee of the Manager receives an annual retainer along with meeting fees for those Carillon Family of Funds’ regular or special meetings attended in person and 25% of such meeting fees are received for telephonic meetings. All reasonable out-of-pocket expenses are also reimbursed. Except when directly attributable to a Fund, Trustees’ fees and expenses are paid equally by each Fund in the Carillon Family of Funds. Certain officers of the Carillon Family of Funds may also be officers and/or directors of Carillon Tower. Such officers receive no compensation from the Funds except for the Funds’ Chief Compliance Officer. A portion of the Chief Compliance Officer’s total compensation is paid equally by each Fund in the Carillon Family of Funds.
61 |
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Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
NOTE 5 | Federal income taxes and distributions | Each Fund is treated as a single corporate taxpayer as provided for in the Tax Reform Act of 1986, as amended. Accordingly, no provision for federal income taxes is required since each of the Funds intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code and distribute to shareholders all of its taxable income and gains. The Manager has analyzed the Funds’ tax positions taken or expected to be taken on federal income tax returns for all open tax years (tax years ended October 31, 2014 to October 31, 2017 for all Funds except for the International Fund, Mid Cap Fund, Small Cap Fund, Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund which have open tax years ended June 30, 2014 to June 30, 2017 and October 31, 2017) and has concluded that no provision for federal income tax is required in the Funds’ financial statements.
Federal income tax regulations differ from GAAP; therefore, distributions determined in accordance with tax regulations may differ significantly in amount or character from net investment income and net realized gains for financial reporting purposes. These differences primarily relate to deferral of losses from wash sales and non-REIT return of capital.
For income tax purposes, distributions paid during the fiscal periods indicated were as follows (tax character during the period ended April 30, 2018 is estimated):
Ordinary income | Long-term capital gains | |||||||||||||||
11/1/17 to 4/30/18 | 11/1/16 to 10/31/17 | 11/1/17 to 4/30/18 | 11/1/16 to 10/31/17 | |||||||||||||
Capital Appreciation Fund | $236,304 | $587,760 | $25,236,644 | $21,213,057 | ||||||||||||
International Stock Fund | 206,972 | 249,166 | — | — | ||||||||||||
Tactical Allocation Fund | 410,929 | 57,009 | 35,112 | — | ||||||||||||
Growth & Income Fund | 6,062,343 | 9,370,031 | 14,660,054 | 28,687,154 | ||||||||||||
Mid Cap Growth Fund | — | — | 68,694,184 | 97,570 | ||||||||||||
Mid Cap Stock Fund | — | — | 13,835,527 | 21,546,258 | ||||||||||||
Small Cap Growth Fund | — | 2,166,663 | 381,398,349 | 123,253,354 | ||||||||||||
Smaller Company Fund | 20,707 | — | 4,424,493 | 4,398,626 |
Ordinary income | Long-term capital gains | |||||||||||||||
11/1/17 to 4/30/18 | 7/1/17 to 10/31/17 | 11/1/17 to 4/30/18 | 7/1/17 to 10/31/17 | |||||||||||||
International Fund | $13,650,008 | $— | $164,035,083 | $— | ||||||||||||
Mid Cap Fund | 39,970,028 | — | 98,792,226 | — | ||||||||||||
Small Cap Fund | 199,920 | — | 25,539,975 | — | ||||||||||||
Core Bond Fund | 978,436 | 900,936 | — | — | ||||||||||||
Core Plus Bond Fund | 5,844,417 | 3,986,035 | * | — | — | |||||||||||
Unconstrained Bond Fund | 11,045,248 | 4,867,007 | — | — | ||||||||||||
* The Fund also made a return of capital distribution of $197,332. |
|
For the fiscal year ended June 30, 2017, the International Fund, Mid Cap Fund, Small Cap Fund, Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund distributed net investment income of $21,855,165, $6,620,827, $139,596, $7,402,842, $34,895,248 and $ 15,454,884, respectively. For the fiscal year ended June 30, 2017, the International Fund, Mid Cap Fund, Small Cap Fund and Core Plus Bond Fund distributed long-term capital gains of $178,101,157, $22,104,665, $9,036,406 and $87,901, respectively.
NOTE 6 | Other Derivative Information
At April 30, 2018, the Funds have invested in derivative contracts which are reflected on the Statements of Assets and Liabilities as follows:
Asset | Liability | |||||||||||||
Risk Exposure Category | Statements of Assets and Liabilities Location | Fair Value Amount | Fair Value Amount | |||||||||||
Core Plus Bond Fund | Credit contracts | Premiums paid - open swap contracts | $644,372 | N/A | ||||||||||
| Net unrealized appreciation - open swap contracts | | 135,816 | N/A | ||||||||||
Interest rate contracts | | Net unrealized depreciation - open futures contracts | | N/A | $2,695,110 | |||||||||
|
|
|
| |||||||||||
Total | $780,188 | $2,695,110 | ||||||||||||
|
|
|
| |||||||||||
Unconstrained Bond Fund | Credit contracts | Premiums paid - open swap contracts | $1,366,020 | N/A | ||||||||||
Net unrealized appreciation - open swap contracts | 287,921 | N/A | ||||||||||||
Interest rate contracts | Net unrealized depreciation - open futures contracts | N/A | $6,188,561 | |||||||||||
|
|
|
| |||||||||||
Total | $1,653,941 | $6,188,561 | ||||||||||||
|
|
|
|
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Table of Contents
Notes to Financial Statements
(UNAUDITED) | 04.30.2018 |
For the period ended April 30, 2018, the effect of derivative contracts on the Funds’ Statements of Operations was as follows:
Risk Exposure Category | Derivative Instrument | Net Realized Gains (Losses) | Net Change in Unrealized Appreciation (Depreciation) | |||||||||||
Core Plus Bond Fund | Credit contracts | Swap contracts | $149,113 | $28,117 | ||||||||||
Interest rate contracts | Futures contracts | 1,905,436 | (2,508,431 | ) | ||||||||||
|
| |||||||||||||
Total | $2,054,549 | $(2,480,314 | ) | |||||||||||
|
| |||||||||||||
Unconstrained Bond Fund | Credit contracts | Swap contracts | $759,071 | $(156,450 | ) | |||||||||
Interest rate contracts | Futures contracts | 5,409,189 | (4,371,185 | ) | ||||||||||
|
| |||||||||||||
Total | $6,168,260 | $(4,527,635 | ) | |||||||||||
|
|
NOTE 7 | Line of Credit | As of April 30, 2018, the Trusts have a secured line of credit of up to $250,000,000 with U.S. Bank N.A, secured by a first priority lien on the Trusts’ assets. Each Fund may borrow up to 33.33% of the net market value of such Fund’s assets, with the maximum aggregate limit of $250,000,000 for all Funds. Borrowings under this arrangement bear interest at U.S. Bank N.A.‘s prime rate minus 1.00%, which as of April 30, 2018 was 3.75%. The following table shows the details of the Funds’ borrowing activity for the period ended April 30, 2018. Funds that are not listed did not utilize the line of credit during the period.
Maximum Outstanding Balance | Average Daily Balance | Total Interest Incurred | Average Interest Rate | |||||||||||||
Capital Appreciation Fund | $1,120,000 | $44,298 | $776 | 3.49 | % | |||||||||||
Tactical Allocation Fund | 338,000 | 5,602 | 99 | 3.50 | ||||||||||||
Mid Cap Stock Fund | 550,000 | 10,370 | 196 | 3.75 | ||||||||||||
Small Cap Growth Fund | 28,015,000 | 1,212,773 | 21,341 | 3.50 | ||||||||||||
Smaller Company Fund | 22,000 | 122 | 2 | 3.75 | ||||||||||||
Unconstrained Bond Fund | 394,000 | 2,177 | 38 | 3.50 |
As of April 30, 2018, none of the Funds had any amounts outstanding under the line of credit.
NOTE 8 | Subsequent events | Reorganizations: On November 17, 2017, the Board approved a Plan of Reorganization and Termination pursuant to which: (i) the Carillon Eagle Smaller Company Fund will be reorganized into the Carillon Scout Small Cap; and (ii) the Carillon Eagle Mid Cap Stock Fund will be reorganized into the Carillon Eagle Mid Cap Growth Fund (each, a “Reorganization” and together, the “Reorganizations”). The Reorganizations will take effect on or about July 13, 2018. Carillon Tower proposed the Reorganizations to consolidate funds of the Trust that are similar investment products and potentially increase the Trust’s operational efficiency. The Reorganizations are expected to be tax-free transactions for federal income tax purposes.
The Manager has evaluated subsequent events through June 25, 2018, the date these financial statements were issued, and determined that no other material events or transactions would require recognition or disclosure in the Funds’ financial statements.
63 |
Table of Contents
Understanding Your Ongoing Costs
(UNAUDITED) | 04.30.2018 |
As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges on purchases, contingent deferred sales charges, or redemption fees; and (2) ongoing costs, including investment advisory fees, distribution (12b-1) fees, and other fund expenses. The following sections are intended to help you understand your ongoing costs (in dollars) of investing in each Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect one-time transaction expenses, such as sales charges or redemption fees. Therefore, if these transactional costs were included, your costs would have been higher. For more information, see your Fund’s prospectus or contact your financial adviser.
Actual expenses | The table below shows the actual expenses you would have paid on a $1,000 investment made in each Fund on November 1, 2017 and held through April 30, 2018. It also shows how much a $1,000 investment would be worth at the close of the period, assuming actual returns after
ongoing expenses. This table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the line under the heading entitled “Expenses paid during the period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes | The table below shows each Fund’s expenses based on a $1,000 investment held from November 1, 2017 through April 30, 2018 and assuming for this period a hypothetical 5% annualized rate of return before ongoing expenses, which is not the Fund’s actual return. Please note that you should not use this information to estimate your actual ending account balance and expenses paid during the period. You can use this information to compare the ongoing expenses (but not transaction expenses or total costs) of investing in the Funds with those of other funds. All mutual fund shareholder reports will provide this information to help you make this comparison.
Actual expenses | Hypothetical expenses | |||||||||||||||||||||||
Beginning Account Value | Ending Account Value | Expenses paid during period (a) | Ending Account Value | Expenses paid during period (a) | Annualized expense ratio | |||||||||||||||||||
Capital Appreciation Fund | ||||||||||||||||||||||||
Class A | $1,000.00 | $1,049.00 | $5.28 | $1,019.64 | $5.21 | 1.04 | % | |||||||||||||||||
Class C | 1,000.00 | 1,044.80 | 9.23 | 1,015.77 | 9.10 | 1.82 | ||||||||||||||||||
Class I | 1,000.00 | 1,050.60 | 3.76 | 1,021.12 | 3.71 | 0.74 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,047.60 | 6.75 | 1,018.20 | 6.66 | 1.33 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,050.60 | 3.91 | 1,020.98 | 3.86 | 0.77 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,050.90 | 3.41 | 1,021.47 | 3.36 | 0.67 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,037.60 | 4.58 | 1,019.74 | 5.11 | 1.02 | ||||||||||||||||||
International Stock Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,023.00 | 7.27 | 1,017.60 | 7.25 | 1.45 | ||||||||||||||||||
Class C | 1,000.00 | 1,019.10 | 11.01 | 1,013.88 | 10.99 | 2.20 | ||||||||||||||||||
Class I | 1,000.00 | 1,024.40 | 5.77 | 1,019.09 | 5.76 | 1.15 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,021.50 | 8.52 | 1,016.36 | 8.50 | 1.70 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,024.60 | 5.77 | 1,019.09 | 5.76 | 1.15 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,024.50 | 5.27 | 1,019.59 | 5.26 | 1.05 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,031.80 | 6.50 | 1,017.60 | 7.25 | 1.45 | ||||||||||||||||||
Tactical Allocation Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,012.70 | 5.84 | 1,018.99 | 5.86 | 1.17 | ||||||||||||||||||
Class C | 1,000.00 | 1,008.70 | 9.56 | 1,015.27 | 9.59 | 1.92 | ||||||||||||||||||
Class I | 1,000.00 | 1,013.70 | 4.34 | 1,020.48 | 4.36 | 0.87 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,011.10 | 7.08 | 1,017.75 | 7.10 | 1.42 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,014.60 | 4.35 | 1,020.48 | 4.36 | 0.87 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,014.60 | 3.85 | 1,020.98 | 3.86 | 0.77 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,011.00 | 5.19 | 1,018.99 | 5.86 | 1.17 | ||||||||||||||||||
Growth & Income Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,038.30 | 4.90 | 1,019.98 | 4.86 | 0.97 | ||||||||||||||||||
Class C | 1,000.00 | 1,034.90 | 8.78 | 1,016.17 | 8.70 | 1.74 | ||||||||||||||||||
Class I | 1,000.00 | 1,039.60 | 3.64 | 1,021.22 | 3.61 | 0.72 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,036.50 | 6.72 | 1,018.20 | 6.66 | 1.33 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,039.90 | 3.69 | 1,021.17 | 3.66 | 0.73 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,040.10 | 3.24 | 1,021.62 | 3.21 | 0.64 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,030.30 | 5.60 | 1,018.60 | 6.26 | 1.25 | ||||||||||||||||||
Mid Cap Growth Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,054.20 | 5.25 | 1,019.69 | 5.16 | 1.03 | ||||||||||||||||||
Class C | 1,000.00 | 1,050.50 | 8.90 | 1,016.12 | 8.75 | 1.75 | ||||||||||||||||||
Class I | 1,000.00 | 1,055.80 | 3.72 | 1,021.17 | 3.66 | 0.73 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,052.60 | 6.77 | 1,018.20 | 6.66 | 1.33 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,056.00 | 3.67 | 1,021.22 | 3.61 | 0.72 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,056.20 | 3.36 | 1,021.52 | 3.31 | 0.66 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,029.30 | 5.59 | 1,018.60 | 6.26 | 1.25 |
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Understanding Your Ongoing Costs
(UNAUDITED) | 04.30.2018 |
Actual expenses | Hypothetical expenses | |||||||||||||||||||||||
Beginning Account Value | Ending Account Value | Expenses paid during period (a) | Ending Account Value | Expenses paid during period (a) | Annualized expense ratio | |||||||||||||||||||
Mid Cap Stock Fund | ||||||||||||||||||||||||
Class A | $1,000.00 | $1,021.30 | $6.06 | $1,018.79 | $6.06 | 1.21 | % | |||||||||||||||||
Class C | 1,000.00 | 1,017.30 | 10.00 | 1,014.88 | 9.99 | 2.00 | ||||||||||||||||||
Class I | 1,000.00 | 1,022.80 | 4.76 | 1,020.08 | 4.76 | 0.95 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,019.90 | 7.51 | 1,017.36 | 7.50 | 1.50 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,022.70 | 4.76 | 1,020.08 | 4.76 | 0.95 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,023.20 | 4.26 | 1,020.58 | 4.26 | 0.85 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,012.80 | 5.55 | 1,018.60 | 6.26 | 1.25 | ||||||||||||||||||
Small Cap Growth Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,046.60 | 5.48 | 1,019.44 | 5.41 | 1.08 | ||||||||||||||||||
Class C | 1,000.00 | 1,042.90 | 8.91 | 1,016.07 | 8.80 | 1.76 | ||||||||||||||||||
Class I | 1,000.00 | 1,048.30 | 3.81 | 1,021.08 | 3.76 | 0.75 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,045.20 | 6.64 | 1,018.30 | 6.56 | 1.31 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,048.10 | 3.86 | 1,021.03 | 3.81 | 0.76 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,048.80 | 3.30 | 1,021.57 | 3.26 | 0.65 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,034.70 | 5.61 | 1,018.60 | 6.26 | 1.25 | ||||||||||||||||||
Smaller Company Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,039.20 | 6.32 | 1,018.60 | 6.26 | 1.25 | ||||||||||||||||||
Class C | 1,000.00 | 1,035.40 | 10.09 | 1,014.88 | 9.99 | 2.00 | ||||||||||||||||||
Class I | 1,000.00 | 1,041.50 | 4.81 | 1,020.08 | 4.76 | 0.95 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,037.90 | 7.58 | 1,017.36 | 7.50 | 1.50 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,041.40 | 4.81 | 1,020.08 | 4.76 | 0.95 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,041.90 | 4.30 | 1,020.58 | 4.26 | 0.85 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,032.50 | 5.60 | 1,018.60 | 6.26 | 1.25 | ||||||||||||||||||
International Fund | ||||||||||||||||||||||||
Class A (b) | 1,000.00 | 1,016.10 | 6.45 | 1,017.60 | 7.25 | 1.45 | ||||||||||||||||||
Class C (b) | 1,000.00 | 1,012.90 | 9.77 | 1,013.88 | 10.99 | 2.20 | ||||||||||||||||||
Class I | 1,000.00 | 1,012.40 | 5.29 | 1,019.54 | 5.31 | 1.06 | ||||||||||||||||||
Class R-3 (b) | 1,000.00 | 1,014.90 | 7.55 | 1,016.36 | 8.50 | 1.70 | ||||||||||||||||||
Class R-5 (b) | 1,000.00 | 1,017.40 | 5.12 | 1,019.09 | 5.76 | 1.15 | ||||||||||||||||||
Class R-6 (b) | 1,000.00 | 1,017.90 | 4.67 | 1,019.59 | 5.26 | 1.05 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,016.10 | 6.45 | 1,017.60 | 7.25 | 1.45 | ||||||||||||||||||
Mid Cap Fund | ||||||||||||||||||||||||
Class A (b) | 1,000.00 | 1,014.40 | 5.15 | 1,019.04 | 5.81 | 1.16 | ||||||||||||||||||
Class C (b) | 1,000.00 | 1,011.10 | 8.47 | 1,015.32 | 9.54 | 1.91 | ||||||||||||||||||
Class I | 1,000.00 | 1,036.40 | 4.85 | 1,020.03 | 4.81 | 0.96 | ||||||||||||||||||
Class R-3 (b) | 1,000.00 | 1,012.20 | 6.75 | 1,017.26 | 7.60 | 1.52 | ||||||||||||||||||
Class R-5 (b) | 1,000.00 | 1,014.40 | 5.11 | 1,019.09 | 5.76 | 1.15 | ||||||||||||||||||
Class R-6 (b) | 1,000.00 | 1,014.90 | 4.27 | 1,020.03 | 4.81 | 0.96 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,014.30 | 5.42 | 1,018.74 | 6.11 | 1.22 | ||||||||||||||||||
Small Cap Fund | ||||||||||||||||||||||||
Class A (b) | 1,000.00 | 1,034.00 | 5.61 | 1,018.60 | 6.26 | 1.25 | ||||||||||||||||||
Class C (b) | 1,000.00 | 1,030.70 | 8.96 | 1,014.88 | 9.99 | 2.00 | ||||||||||||||||||
Class I | 1,000.00 | 1,046.00 | 4.87 | 1,020.03 | 4.81 | 0.96 | ||||||||||||||||||
Class R-3 (b) | 1,000.00 | 1,032.90 | 6.73 | 1,017.36 | 7.50 | 1.50 | ||||||||||||||||||
Class R-5 (b) | 1,000.00 | 1,035.40 | 4.26 | 1,020.08 | 4.76 | 0.95 | ||||||||||||||||||
Class R-6 (b) | 1,000.00 | 1,035.80 | 3.82 | 1,020.58 | 4.26 | 0.85 | ||||||||||||||||||
Class Y (b) | 1,000.00 | 1,034.00 | 5.61 | 1,018.60 | 6.26 | 1.25 | ||||||||||||||||||
Core Bond Fund | ||||||||||||||||||||||||
Class A (b) | 1,000.00 | 982.60 | 3.50 | 1,020.83 | 4.01 | 0.80 | ||||||||||||||||||
Class C (b) | 1,000.00 | 979.60 | 6.77 | 1,017.11 | 7.75 | 1.55 | ||||||||||||||||||
Class I | 1,000.00 | 986.10 | 1.97 | 1,022.81 | 2.01 | 0.40 | ||||||||||||||||||
Class R-3 (b) | 1,000.00 | 982.10 | 4.59 | 1,019.59 | 5.26 | 1.05 | ||||||||||||||||||
Class R-5 (b) | 1,000.00 | 984.00 | 2.19 | 1,022.32 | 2.51 | 0.50 | ||||||||||||||||||
Class R-6 (b) | 1,000.00 | 984.40 | 1.75 | 1,022.81 | 2.01 | 0.40 | ||||||||||||||||||
Class Y | 1,000.00 | 983.50 | 3.93 | 1,020.83 | 4.01 | 0.80 |
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Understanding Your Ongoing Costs
(UNAUDITED) | 04.30.2018 |
Actual expenses | Hypothetical expenses | |||||||||||||||||||||||
Beginning Account Value | Ending Account Value | Expenses paid during period (a) | Ending Account Value | Expenses paid during period (a) | Annualized expense ratio | |||||||||||||||||||
Core Plus Bond Fund | ||||||||||||||||||||||||
Class A (b) | $ 1,000.00 | $ 981.20 | $ 3.50 | $ 1,020.83 | $ 4.01 | 0.80 | % | |||||||||||||||||
Class C (b) | 1,000.00 | 977.80 | 6.76 | 1,017.11 | 7.75 | 1.55 | ||||||||||||||||||
Class I | 1,000.00 | 983.60 | 1.97 | 1,022.81 | 2.01 | 0.40 | ||||||||||||||||||
Class R-3 (b) | 1,000.00 | 980.10 | 4.59 | 1,019.59 | 5.26 | 1.05 | ||||||||||||||||||
Class R-5 (b) | 1,000.00 | 982.30 | 2.19 | 1,022.32 | 2.51 | 0.50 | ||||||||||||||||||
Class R-6 (b) | 1,000.00 | 983.00 | 1.75 | 1,022.81 | 2.01 | 0.40 | ||||||||||||||||||
Class Y | 1,000.00 | 981.60 | 3.93 | 1,020.83 | 4.01 | 0.80 | ||||||||||||||||||
Unconstrained Bond Fund | ||||||||||||||||||||||||
Class A (b) | 1,000.00 | 989.10 | 3.51 | 1,020.83 | 4.01 | 0.80 | ||||||||||||||||||
Class C (b) | 1,000.00 | 986.30 | 6.79 | 1,017.11 | 7.75 | 1.55 | ||||||||||||||||||
Class I | 1,000.00 | 988.40 | 2.47 | 1,022.32 | 2.51 | 0.50 | ||||||||||||||||||
Class R-3 (b) | 1,000.00 | 988.10 | 4.60 | 1,019.59 | 5.26 | 1.05 | ||||||||||||||||||
Class R-5 (b) | 1,000.00 | 990.10 | 2.19 | 1,022.32 | 2.51 | 0.50 | ||||||||||||||||||
Class R-6 (b) | 1,000.00 | 990.40 | 1.76 | 1,022.81 | 2.01 | 0.40 | ||||||||||||||||||
Class Y | 1,000.00 | 988.00 | 3.94 | 1,020.83 | 4.01 | 0.80 |
(a) Expenses are calculated using each Fund’s annualized expense ratios for each class of shares, multiplied by the average account value for the period, then multiplying the result by the actual number of days in the period (181), and then dividing that result by the actual number of days in the fiscal year (365).
(b) Share class commenced operations as of the close of business on November 20, 2017. Actual expenses information is presented for the period from November 21, 2017 to April 30, 2018 (161 days).
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Table of Contents
Approval of Investment Advisory and Subadvisory Agreements
(UNAUDITED)
Overview | At a meeting held on November 16-17, 2017, the Boards of Trustees of Carillon Series Trust (the “Trust”), including its independent members (together, the “Board” or the “Trustees”), approved an investment subadvisory agreement (the “Subadvisory Agreement”) between Carillon Tower Advisers, Inc. (“Carillon”) and Scout Investments, Inc. (“Scout”), appointing Scout as the subadviser to the Carillon Eagle Smaller Company Fund (“Eagle Small Cap Fund”), a series of the Trust. The Board also approved an amendment to the investment advisory agreement between Carillon and the Trust (the “Carillon Amendment”) and an amendment to the subadvisory agreement between Carillon and Scout (the “Scout Amendment,” and together with the Carillon Amendment, the “Amendments”), each with respect to the Carillon Scout Small Cap Fund, another series of the Trust.
In approving the Subadvisory Agreement, the Board considered information that had previously been provided by Carillon and Scout to the Board at its June 12, 2017 meeting in connection with the Board’s consideration of the subadvisory agreement between Carillon and Scout as it related to the Carillon Scout Small Cap Fund. In particular, the Board considered information relating to: (1) the subadvisory services proposed to be provided to the Carillon Scout Small Cap Fund; (2) the professional personnel proposed to be assigned primary responsibility for managing the Carillon Scout Small Cap Fund; (3) the financial condition of Scout; (4) the proposed subadvisory fee rate; (5) the performance of a mutual fund managed by Scout (the “Scout Fund”), which subsequently was reorganized into the Carillon Scout Small Cap Fund, and other accounts managed by Scout in the strategy of the Carillon Scout Small Cap Fund, net of fees (“Composite”) as compared to funds within the applicable Morningstar category (“Morningstar Category”), Lipper, Inc. category (“Lipper Category”) and a benchmark index; (6) the anticipated effect of growth and size on the Carillon Scout Small Cap Fund’s expenses; (7) Scout’s compliance program and any material compliance matters, as well as its trading activities; (8) benefits to be realized by Scout and its affiliates; (9) the estimated profitability of Scout under the subadvisory agreement; and (10) any other information Scout believed would be material to the Board’s consideration of the subadvisory agreement. The Board considered Carillon’s representation that this information had not changed with respect to the Carillon Scout Small Cap Fund and would not be materially different with respect to the Eagle Small Cap Fund. The Board also considered information regarding the subadvisory fee to be paid by Carillon to Scout under the Subadvisory Agreement.
In approving the Amendments, the Board considered that the Carillon Amendment would provide for the Carillon Scout Small Cap Fund to pay a lower investment advisory fee rate to Carillon. In addition, the Board considered that the Scout Amendment would provide for Carillon to pay a lower subadvisory fee rate to Scout. In each case, the Board considered that the services to be provided to the Carillon Scout Small Cap Fund would not change. The Board unanimously concluded that the terms of the Amendments were reasonable and fair and that the approval of the Amendments was in the best interests of the Carillon Scout Small Cap Fund.
Additional Considerations and Conclusions with Respect to the Subadvisory Agreement | Provided below is an overview of the primary factors the Board considered at its November 16-17 meeting at which the Board considered the approval of the Subadvisory Agreement. In determining whether to approve the Subadvisory Agreement, the Board considered, among other things, the following factors: (1) the nature, extent and quality of services to be provided to the Eagle Small Cap Fund; (2) the investment performance of the Composite and Scout Fund; (3) the estimated costs to be incurred by Scout and its affiliates and the resulting profits or losses; (4) the extent to which economies of scale, if any, have been taken into account in setting the fee schedule; (5) the fee to be paid under the subadvisory agreement; (6) whether the level of fees reflects economies of scale, if any, for the benefit of the Eagle Small Cap Fund’s investors; (7) comparisons of services and fees with contracts entered into by Scout with the Scout Fund and other clients (such as pension funds and other institutional investors); and (8) any other benefits derived by Scout from its relationship with the Eagle Small Cap Fund.
The Board did not identify any particular information that was most relevant to its consideration of the Subadvisory Agreement, and each Trustee may have afforded different weight to the various factors. The Trustees posed questions to various management personnel of Carillon regarding certain key aspects of the materials submitted in support of the approval. Legal counsel to the independent Trustees provided the Board with a memorandum regarding its responsibilities pertaining to the approval of the Subadvisory Agreement. The memorandum explained the regulatory requirements surrounding the Trustees’ process for evaluating investment advisers and the terms of investment advisory contracts. Based on its evaluation, the Board unanimously concluded that the terms of the Subadvisory Agreement were reasonable and fair and that the approval of the Subadvisory Agreement was in the best interests of the Eagle Small Cap Fund.
Nature, Extent and Quality of Services | The Trustees considered that the Board previously had considered information regarding Scout’s principal business activities, its financial condition and overall capabilities to perform the services under the Subadvisory Agreement. The Trustees also considered that the Board previously had considered the background and experience of the personnel who would be assigned responsibility for managing the Eagle Small Cap Fund. The Trustees also considered that the Board previously had considered Scout’s infrastructure and the adequacy of its compliance program. In addition, the Board took into consideration Carillon’s recommendation of Scout. The Board considered that Scout had represented that its financial condition was adequate to provide high quality advisory services and that its staffing levels were adequate. Based on this information, the Board concluded that the nature, extent and quality of the advisory services to be provided by Scout were appropriate for the Eagle Small Cap Fund in light of its investment objective, and, thus, supported a decision to approve the Subadvisory Agreement.
Investment Performance | The Trustees considered that the Board previously had considered comparisons of the performance of the Composite and Scout Fund for the year-to-date, one-year, three-year and five-year periods ended April 30, 2017, relative to the performance of the relevant Morningstar Category, Lipper Category and benchmark index. In particular, the Board had considered that the Composite and the Scout Fund outperformed the Russell 2000 Growth Index, the Morningstar Category and the Lipper Category for the year-to-date, one-, three- and five-year periods.
Fees and Expenses | The Board considered that the proposed subadvisory fee rate payable by Carillon to Scout would be equal to the subadvisory fee rate currently paid by Carillon to Eagle and that the proposed subadvisory fee rate was higher than the average fee rate charged by Scout to the accounts within the Composite.
Costs, Profitability and Economies of Scale | In analyzing the cost of services and profitability of Scout, the Trustees considered that the Board previously had considered the estimated revenues to be earned and the expenses to be incurred by Scout. In particular, the Board had considered that, during the first quarter of 2017, Scout did not earn a profit with respect to the Scout Fund. The Board also considered that the proposed subadvisory fee rate was lower than the fee rate paid to Scout by the Scout Fund. The Board also considered that the subadvisory fee rate includes breakpoints as Fund assets grow, which reflects economies of scale for the benefit of the Fund’s investors.
Benefits | In evaluating compensation, the Trustees considered that the Board previously had considered other benefits that may be realized by Scout and its affiliates from their relationship with the Carillon Scout Small Cap Fund. In this connection, the Board had considered Scout’s representation that it expects to receive soft dollar services from broker-dealers that it selects to execute trades on behalf of the Carillon Scout Small Cap Fund, including brokerage services, proprietary research and third-party research.
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Approval of Investment Advisory and Subadvisory Agreements
(UNAUDITED) |
Conclusions | Based on these considerations, the Board concluded with respect to the Eagle Small Cap Fund that: (1) the Fund was reasonably likely to benefit from the nature, quality and extent of Scout’s services; (2) the performance of the Composite and the Scout Fund, as applicable, was satisfactory in light of all the factors considered by the Board; (3) the fees payable under the Subadvisory Agreement and profits projected by Scout were reasonable in the context of all the factors considered by the Board; and (4) the proposed subadvisory fee rate structure provides the Fund’s shareholders with reasonable benefits associated with economies of scale. Based on these conclusions and other factors, the Board determined in its business judgment to approve the Subadvisory Agreement between Carillon and Scout.
Overview | At a meeting held on February 16, 2018, the Board of the Trust approved an amendment to the subadvisory agreement between Carillon and ClariVest Asset Management LLC (“ClariVest”) with respect to the Carillon ClariVest Capital Appreciation Fund (the “ClariVest Fund”), a series of the Trust (the “ClariVest Amendment”). The Board determined that it did not need to consider certain factors that it typically considers during its regular annual review of investment advisory agreements because the Board had reviewed, among other matters, the nature, extent and quality of services being provided
to the Fund by ClariVest at the Board’s August 18, 2017 meeting. The Board considered Carillon’s representation that there had been no material changes to the information provided by Carillon or ClariVest in connection with the Board’s consideration of the ClariVest Fund’s investment advisory agreement and subadvisory agreement at that meeting.
In determining whether to approve the ClariVest Amendment, the Board considered that the ClariVest Amendment would provide for Carillon to pay a higher subadvisory fee rate to ClariVest. The Board also considered that, because Carillon pays ClariVest from the fee that Carillon receives from the Fund for acting as the ClariVest Fund’s investment adviser, the ClariVest Amendment would not result in any change in the t amount of investment advisory fees paid by the ClariVest Fund. In addition, the Board considered Carillon’s representation that the ClariVest Amendment would not result in any change or diminution in the nature or quality of services provided to the ClariVest Fund by Carillon or ClariVest. The Board unanimously concluded that the terms of the ClariVest Amendment were reasonable and fair and that the approval of the ClariVest Amendment was in the best interests of the ClariVest Fund.
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Additional Information About Principal Risk Factors
The greatest risk of investing in a mutual fund is that its returns will fluctuate and you could lose money. Turbulence in financial markets and reduced liquidity in equity, credit and fixed income markets may negatively affect many issuers worldwide, which could have an adverse effect on the Funds. Additionally, while the portfolio managers seek to take advantage of investment opportunities that will maximize a fund’s investment returns, there is no guarantee that such opportunities will ultimately benefit the fund. There is no assurance that the portfolio managers’ investment strategy will enable a fund to achieve its investment objective. An investment in a fund is not a deposit with a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following table identifies the risk factors of each fund in light of its principal investment strategies. These risk factors are explained following the table.
The Carillon Cougar Tactical Allocation Fund is a “fund of funds” that seeks to achieve its investment objective by investing its assets primarily in underlying funds. Therefore, in this section, the term “fund” may include a fund, an underlying fund, or both a fund and an underlying fund.
Risk | Carillon ClariVest Capital Appreciation Fund | Carillon ClariVest International Stock Fund | Carillon Cougar Tactical Allocation Fund | Carillon Eagle Growth & Income Fund | Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Mid Cap Stock Fund | Carillon Eagle Small Cap Growth Fund | Carillon Eagle Smaller Company Fund | ||||||||||||||||||||||||
Call | X | |||||||||||||||||||||||||||||||
Commodities | X | |||||||||||||||||||||||||||||||
Credit | X | |||||||||||||||||||||||||||||||
Credit ratings | ||||||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||||||
Emerging markets | X | |||||||||||||||||||||||||||||||
Equity securities | X | X | X | X | X | X | X | X | ||||||||||||||||||||||||
Fixed income market | X | |||||||||||||||||||||||||||||||
Focused holdings | X | X | ||||||||||||||||||||||||||||||
Foreign and emerging market securities | X | X | X | |||||||||||||||||||||||||||||
Fund of funds | X | |||||||||||||||||||||||||||||||
Growth stocks | X | X | X | X | X | X | X | |||||||||||||||||||||||||
High-yield securities | X | |||||||||||||||||||||||||||||||
Income | ||||||||||||||||||||||||||||||||
Inflation | X | |||||||||||||||||||||||||||||||
Interest rates | X | |||||||||||||||||||||||||||||||
Issuer | ||||||||||||||||||||||||||||||||
Leverage | ||||||||||||||||||||||||||||||||
Liquidity | X | X | ||||||||||||||||||||||||||||||
Market and Stock Market | X | X | X | X | X | X | X | X | ||||||||||||||||||||||||
Market timing | X | X | X | X | ||||||||||||||||||||||||||||
Maturity | ||||||||||||||||||||||||||||||||
Mid-cap companies | X | X | X | X | X | X | X | |||||||||||||||||||||||||
Mortgage and asset-backed securities | X | |||||||||||||||||||||||||||||||
Municipal securities | X | |||||||||||||||||||||||||||||||
Other investments companies and ETFs | X | X | ||||||||||||||||||||||||||||||
Portfolio turnover | X | X | ||||||||||||||||||||||||||||||
Redemptions | X | |||||||||||||||||||||||||||||||
Sectors | X | X | X | |||||||||||||||||||||||||||||
Short sale | ||||||||||||||||||||||||||||||||
Small-cap companies | X | X | X | X | X | |||||||||||||||||||||||||||
U.S. Government securities and Government sponsored enterprises | X | |||||||||||||||||||||||||||||||
Valuation | ||||||||||||||||||||||||||||||||
Value stocks | X | X | X | X |
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Risk | Carillon Scout International Fund | Carillon Scout Mid Cap Fund | Carillon Scout Small Cap Fund | Carillon Reams Core Bond Fund | Carillon Reams Core Plus Bond Fund | Carillon Reams Unconstrained Bond Fund | ||||||||||||||||||
Call | ||||||||||||||||||||||||
Commodities | ||||||||||||||||||||||||
Credit | X | X | X | |||||||||||||||||||||
Credit ratings | X | X | X | |||||||||||||||||||||
Derivatives | X | X | X | |||||||||||||||||||||
Emerging markets | X | X | X | X | ||||||||||||||||||||
Equity securities | X | X | X | |||||||||||||||||||||
Fixed income market | X | X | X | |||||||||||||||||||||
Focused holdings | X | |||||||||||||||||||||||
Foreign and emerging market securities | X | X | X | X | X | X | ||||||||||||||||||
Fund of funds | ||||||||||||||||||||||||
Growth stocks | X | X | X | |||||||||||||||||||||
High-yield securities | X | X | ||||||||||||||||||||||
Income | X | X | X | |||||||||||||||||||||
Inflation | ||||||||||||||||||||||||
Interest rates | X | X | X | |||||||||||||||||||||
Issuer | X | X | X | |||||||||||||||||||||
Leverage | X | X | X | |||||||||||||||||||||
Liquidity | X | X | X | X | ||||||||||||||||||||
Market and Stock Market | X | X | X | |||||||||||||||||||||
Market timing | X | X | ||||||||||||||||||||||
Maturity | X | X | X | |||||||||||||||||||||
Mid-cap companies | X | X | ||||||||||||||||||||||
Mortgage-and asset-backed securities | X | X | X | |||||||||||||||||||||
Municipal securities | ||||||||||||||||||||||||
Other investment companies and ETFs | ||||||||||||||||||||||||
Portfolio turnover | X | X | X | X | X | |||||||||||||||||||
Redemptions | X | X | X | |||||||||||||||||||||
Sectors | X | |||||||||||||||||||||||
Short sale | X | |||||||||||||||||||||||
Small-cap companies | X | X | ||||||||||||||||||||||
U.S. Government securities and Government sponsored enterprises | ||||||||||||||||||||||||
Valuation | X | X | X | |||||||||||||||||||||
Value stocks | X | X | X |
Call | Call risk is the possibility that, as interest rates decline to a level that is significantly lower than the rate assigned to the fixed income security, the security may be called (redeemed) prior to maturity. A fund would lose the benefit of holding a fixed income security that is paying a rate above the current market rate and would likely have to reinvest the proceeds in other fixed income securities that have lower yields.
Commodities | The value of commodities may be more volatile than the value of equity securities or debt instruments and their value may be affected by changes in overall market movements, commodity index volatility, changes in
interest rates, or factors affecting a particular industry or commodity. Investments in commodities, such as gold, or in commodity-linked instruments, will subject a fund’s portfolio to volatility that may also deviate from price movements in equity and fixed income securities. The value of commodity-linked instruments typically is based upon the price movements of underlying commodities and, therefore, may fluctuate widely based on a variety of both macroeconomic and commodity-specific factors. At times, these price fluctuations may be significant or rapid, and may not correlate to price movements in other asset classes. There may also be an imperfect
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correlation between the value of commodity-linked instruments and the underlying assets. Investments in these types of instruments may subject a fund to additional expenses.
Credit | A fund could lose money if the issuer of a fixed income security is unable or unwilling, or is perceived as unable or unwilling (whether by market participants, ratings agencies, pricing services or otherwise) to meet its financial obligations or goes bankrupt. Securities are subject to varying degrees of credit risk, which are often reflected in their credit ratings. The downgrade of the credit rating of a security held by a fund may decrease its value. Credit risk usually applies to most fixed income securities. U.S. government securities, especially those that are not backed by the full faith and credit of the U.S. Treasury, such as securities supported only by the credit of the issuing governmental agency or government-sponsored enterprise, carry at least some risk of nonpayment, and the maximum potential liability of the issuers of such securities may greatly exceed their current resources. There is no assurance that the U.S. government would provide financial support to the issuing entity if not obligated to do so by law.
Further, any government guarantees on U.S. government securities that a fund owns extend only to the timely payment of interest and the repayment of principal on the securities themselves and do not extend to the market value of the securities themselves or to shares of the fund.
Credit Ratings | Ratings by nationally recognized rating agencies represent the agencies’ opinion of the credit quality of an issuer. However, these ratings are not absolute standards of quality and do not guarantee the creditworthiness of an issuer. Ratings do not necessarily address market risk and may not be revised quickly enough to reflect changes in an issuer’s financial condition.
Derivatives | Derivatives, such as options, futures contracts, currency forwards or swap agreements, may involve greater risks than if a fund had invested in the reference obligation directly. Derivatives are subject to general market risks, liquidity risks, interest rate risk, and credit risks. Derivatives also present the risk that the other party to the transaction will fail to perform. Derivatives also involve an increased risk of mispricing or improper valuation
of the derivative instrument, and imperfect correlation between the value of the derivative and the underlying instrument so that a fund may not realize the intended benefits. When used for hedging, changes in the value of the derivative may also not correlate perfectly with the underlying asset, rate or index. Derivatives risk may be more significant when derivatives are used to enhance fund returns, increase liquidity, manage the duration of a fund’s portfolio and/or gain exposure to certain instruments or markets, rather than solely to hedge the risk of a position held by the fund. Derivatives can cause a fund to participate in losses (as well as gains) in an amount that significantly exceeds the fund’s initial investment. Also, suitable derivative transactions may not be available in all circumstances and there can be no assurance that a fund will engage in these transactions to reduce exposure to other risks when that would be beneficial. The regulation of cleared and uncleared swap agreements, as well as other derivatives, is a rapidly changing area of law and is subject to modification by government and judicial action. It is not possible to predict fully the effects of current or future regulation. Changes in government regulation of various types of derivatives instruments may make derivatives more costly or limit the availability of derivatives, which may limit or prevent a fund from using certain types of derivative instruments as part of its investment strategy; may affect the character, timing of recognition and amount of a fund’s taxable income or recognized gains or losses; or may otherwise adversely affect the value or performance of derivatives. Compared to other types of investments, derivatives may also be less tax efficient. A fund’s use of derivatives may be limited by the requirements for taxation of the fund as a regulated investment company.
Emerging Markets | When investing in emerging markets, the risks of investing in foreign securities discussed below are heightened. Emerging markets have unique risks that are greater than or in addition to investing in developed
markets because emerging markets are generally smaller, less developed, less liquid and more volatile than the securities markets of the U.S. and other developed markets. There are also risks of: greater political uncertainties; an economy’s dependence on revenues from particular commodities or on international aid or development assistance; currency transfer restrictions; a limited number of potential buyers for such securities; and delays and disruptions in securities settlement procedures. In addition, there may be less information available to make investment decisions and more volatile rates of return.
Equity Securities | A fund’s equity securities investments are subject to stock market risk. Such investments may also expose a fund to additional risks:
• | Common Stocks. The value of a company’s common stock may fall as a result of factors directly relating to that company, such as decisions made by its management or decreased demand for the company’s products or services. A stock’s value may also decline because of factors affecting not just the company, but also companies in the same industry or sector. The price of a company’s stock may also be affected by changes in financial markets that are unrelated to the company, such as changes in interest rates, exchange rates or industry regulation. Companies that pay dividends on their common stock generally only do so after they invest in their own business and make required payments to bondholders and on other debt and preferred stock. Therefore, the value of a company’s common stock will usually be more volatile than its bonds, other debt and preferred stock. |
• | Preferred Stocks. Preferred securities are subject to issuer-specific and stock market risks; however, preferred securities may be less liquid than common stocks and offer more limited participation in the growth of an issuer. If interest rates rise, the dividend on preferred stocks may be less attractive, causing the price of preferred stocks to decline. Preferred shareholders may have only certain limited rights if distributions are not paid for a stated period, but generally have no legal recourse against the issuer and may suffer a loss of value if distributions are not paid. Preferred stocks may have mandatory sinking fund provisions, as well as provisions for their call or redemption prior to maturity which can have a negative effect on their prices when interest rates decline. Because the rights of preferred stock on distribution of a corporation’s assets in the event of its liquidation are generally subordinated to the rights associated with a corporation’s debt securities, in the event of an issuer’s bankruptcy, there is substantial risk that there will be nothing left to pay preferred stockholders after payments, if any, to bondholders have been made. For this reason, the value of preferred securities will usually react more strongly than bonds and other debt securities to actual or perceived changes in the company’s financial condition or prospects. |
• | Convertible Securities. The investment value of a convertible security (“convertible”) is based on its yield and tends to decline as interest rates increase. The conversion value of a convertible is the market value that would be received if the convertible were converted to its underlying common stock. Since it derives a portion of its value from the common stock into which it may be converted, a convertible is also subject to the same types of market and issuer-specific risks that apply to the underlying common stock. A convertible may be subject to redemption at the option of the issuer at a price established in the convertible’s governing instrument, which may be less than the current market price of the security. Convertibles typically are “junior” securities, which means an issuer may pay interest on its non-convertible debt before it can make payments on its convertibles. In the event of a liquidation, holders of convertibles may be paid before a company’s common stockholders but after holders of a company’s senior debt obligations. |
• | Depositary Receipts. A fund may invest in securities issued by foreign companies through ADRs, GDRs and EDRs. These securities are subject to many of the risks inherent in investing in foreign securities, including, but |
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not limited to, currency fluctuations and political and financial instability in the home country of a particular depositary receipt. |
• | REITs. REITs or other real estate-related securities are subject to the risks associated with direct ownership of real estate, including declines in the value of real estate, risks related to general and local economic conditions or changes in demographic trends or tastes, increases in operating expenses, and adverse governmental, legal or regulatory action (such as changes to zoning laws, changes in interest rates, condemnation, tax increases, regulatory limitations on rents, or enforcement of or changes to environmental regulations). Shares of REITs may trade less frequently and, therefore, are subject to more erratic price movements than securities of larger issuers. REITs typically incur fees that are separate from those incurred by a fund, meaning a fund’s investment in REITs will result in the layering of expenses such that as a shareholder, a fund will indirectly bear a proportionate share of a REIT’s operating expenses. |
• | Rights and Warrants. Investments in rights and warrants may be more speculative than certain other types of investments because rights and warrants do not carry dividend or voting rights with respect to the underlying securities or any rights in the assets of the issuer. In addition, the value of a right or a warrant does not necessarily change with the value of the underlying securities and a right or a warrant ceases to have value if it is not exercised prior to its expiration date. |
Fixed income market | Fixed income market risk is the risk that the prices of, and the income generated by, fixed income securities held by a fund may decline significantly and/or rapidly in response to adverse issuer, political, regulatory, general economic and market conditions, or other developments, such as regional or global economic instability (including terrorism and related geopolitical risks), interest rate fluctuations, and those events directly involving the issuers that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment. These events may lead to periods of volatility, which may be exacerbated by changes in bond market size and structure. In addition, adverse market events may lead to increased redemptions, which could cause a fund to experience a loss when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent.
Floating rate securities | Floating rate securities generally are less sensitive to interest rate changes but may decline in value if their interest rates do not rise as much, or as quickly, as interest rates in general. Conversely, floating rate securities will not generally increase in value if interest rates decline. When a fund holds floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value (“NAV”) of the fund’s shares.
Focused holdings | For funds that normally hold a core portfolio of securities of fewer companies than other more diversified funds, the increase or decrease of the value of a single security may have a greater impact on the fund’s NAV and total return when compared to other diversified funds.
Foreign securities | Investments in foreign securities involve greater risks than investing in domestic securities. As a result, a fund’s return and NAV may be affected by fluctuations in currency exchange rates or political or economic conditions and regulatory requirements in a particular country. Foreign markets, as well as foreign economies and political systems, may be less stable than U.S. markets, and changes in the exchange rates of foreign currencies can affect the value of a fund’s foreign assets. Foreign laws and accounting standards typically are not as strict as they are in the U.S., and there may be less public information available about foreign companies. Custodial and/or settlement systems in foreign markets may not be fully developed and the laws of certain countries may limit the ability to recover assets if a foreign bank or depository or their agents goes bankrupt. Over a given period of time, foreign securities may underperform U.S. securities—sometimes for years. A fund could also underperform if it invests in countries or
regions whose economic performance falls short. The risks associated with investments in governmental or quasi-governmental entities of a foreign country are heightened by the potential for unexpected governmental change, which may lead to default or expropriation, and inadequate government oversight and accounting. Obligations of supranational entities are subject to the risk that the governments on whose support the entity depends for its financial backing or repayment may be unable or unwilling to provide that support. The effect of recent, worldwide economic instability on specific foreign markets or issuers may be difficult to predict or evaluate. Some national economies continue to show profound instability, which may in turn affect their international trading and financial partners or other members of their currency bloc. Foreign security risk may also apply to ADRs, GDRs and EDRs.
Fund of funds | Because investments in securities of other investment companies, including ETFs, are subject to statutory limitations prescribed in the 1940 Act and the rules thereunder if the Tactical Allocation Fund is unable to rely on an ETF’s exemptive order permitting unaffiliated funds to invest in the ETF’s shares beyond these statutory limitations, the fund may be unable to allocate its investments in the manner the subadviser considers prudent, or the subadviser may have to select an investment other than that which the subadviser considers suitable.
Because the Tactical Allocation Fund invests principally in underlying funds, and the fund’s performance is directly related to the performance of such underlying funds, the ability of the fund to achieve its investment objectives is directly related to the ability of the underlying funds to meet their investment objectives. The investment techniques and risk analysis used by the fund’s and the underlying funds’ portfolio managers may not produce the desired results.
Growth stocks | Growth companies are expected to increase their earnings at a certain rate. When these expectations are not met, investors may punish the prices of stocks excessively, even if earnings showed an absolute increase. Growth company stocks also typically lack the dividend yield that can cushion stock prices in market downturns.
High-yield securities | Investments in securities rated below investment grade, or “junk bonds,” generally involve significantly greater risks of loss of your money than an investment in investment grade bonds. Compared with issuers of investment grade bonds, junk bonds are more likely to encounter financial difficulties and to be materially affected by these difficulties. Rising interest rates may compound these difficulties and reduce an issuer’s ability to repay principal and interest obligations. Issuers of lower-rated securities also have a greater risk of default or bankruptcy. Additionally, due to the greater number of considerations involved in the selection of a fund’s securities, the achievement of a fund’s objective depends more on the skills of the portfolio manager than investing only in higher-rated securities. Therefore, your investment may experience greater volatility in price and yield. High-yield securities may be less liquid than higher quality investments. A security whose credit rating has been lowered may be particularly difficult to sell.
Income | A fund’s income could decline due to falling market interest rates. In a falling interest rate environment, a Fund may be required to invest its assets in lower-yielding securities. Because interest rates vary, it is impossible to predict the income or yield of a fund for any particular period.
Inflation | Inflation risk is the risk that the market value of securities will decrease as higher inflation shrinks the purchasing power of any affected currencies, thus causing the purchasing power not to keep pace with inflation.
Interest rates | Investments in investment grade and non-investment grade fixed income securities are subject to interest rate risk. The value of a fund’s fixed income investments typically will fall when interest rates rise. A fund may be particularly sensitive to changes in interest rates if it invests in debt securities with intermediate and long terms to maturity. Debt securities with longer durations tend to be more sensitive to changes in interest rates, usually making them more volatile than debt securities with shorter durations. For
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example, if a bond has a duration of five years, a 1% increase in interest rates could be expected to result in a 5% decrease in the value of the bond. The Federal Reserve raised the federal funds rate several times since December 2015 and has signaled additional increases in the near future. Interest rates may rise significantly and/or rapidly, potentially resulting in substantial losses to the fund. During periods of very low or negative interest rates, a fund may be unable to maintain positive returns. Certain European countries and Japan have recently experienced negative interest rates on deposits and debt securities have traded at negative yields. Negative interest rates may become more prevalent among non-U.S. issuers, and potentially within the United States. Changing interest rates, including rates that fall below zero, may have unpredictable effects on markets, may result in heightened market volatility and may detract from Fund performance to the extent the Fund is exposed to such interest rates.
Issuer | The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, financial leverage and reduced demand for the issuer’s goods or services, as well as the historical and prospective earnings of the issuer and the value of its assets.
Leverage | Certain transactions of a fund may give rise to a form of leverage. Such transactions may include, among others, the use of buybacks, dollar rolls, and when-issued, delayed delivery or forward commitment transactions. Certain derivatives that a fund may use may create leverage. Derivatives that involve leverage can result in losses to a fund that exceed the amount originally invested in the derivatives. Certain types of leveraging transactions, such as short sales that are not “against the box,” could be subject to unlimited losses in cases where a fund, for any reason, is unable to close out the transaction. The use of leverage may cause a fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. Leveraging may cause a fund to be more volatile than if the fund had not been leveraged. This is because leveraging tends to exaggerate the effect of any increase or decrease in the value of a fund’s portfolio securities.
Liquidity | Liquidity risk is the possibility that the fund might be unable to sell a security promptly and at an acceptable price, which could have the effect of decreasing the overall level of the fund’s liquidity. Market developments may cause the fund’s investments to become less liquid and subject to erratic price movements. In addition, the market-making capacity of dealers in certain types of securities has been reduced in recent years, in part as a result of structural and regulatory changes, such as fewer proprietary trading desks and increased capital requirements for broker-dealers. Further, many broker- dealers have reduced their inventory of certain debt securities. This could negatively affect a fund’s ability to buy or sell debt securities and increase the related volatility and trading costs. The fund could lose money if it cannot sell a security at the time and price that would be most beneficial to the fund.
Market and Stock Market | Markets may at times be volatile and the value of a fund’s stock holdings may decline in price, sometimes significantly and/ or rapidly, because of changes in prices of its holdings or a broad stock market decline. The value of a security may decline due to adverse issuer-specific conditions or general market conditions which are not specifically related to a particular company, such as real or perceived adverse political, regulatory, market, economic or other developments that may cause broad changes in market value, changes in the general outlook for corporate earnings, changes in interest or currency rates, public perceptions concerning these developments or adverse investment sentiment generally. During a general downturn in the securities markets, multiple asset classes may decline in value simultaneously. Terrorism and related geopolitical risks have led, and may in the future lead, to increased short-term market volatility and may have adverse long-term effects on world economies and markets generally. In addition, markets and market participants are increasingly reliant upon both publicly available and proprietary information data systems. Data imprecision, software or other technology malfunctions, programming inaccuracies, unauthorized use or access, and
similar circumstances may impair the performance of these systems and may have an adverse impact upon a single issuer, a group of issuers, or the market at large. In certain cases, an exchange or market may close or issue trading halts on either specific securities or even the entire market, which may result in a fund being, among other things, unable to buy or sell certain securities or financial instruments or accurately price its investments. These fluctuations in stock prices could be a sustained trend or a drastic movement. The stock markets generally move in cycles, with periods of rising prices followed by periods of declining prices. The value of your investment may reflect these fluctuations. The impact of new financial regulation legislation on the markets and the practical implications for market participants may not be fully known for some time. Regulatory changes are causing some financial services companies to exit long-standing lines of business, resulting in dislocations for other market participants. In addition, political and diplomatic events within the United States and abroad, such as the U.S. government’s inability at times to agree on a long-term budget and deficit reduction plan, the threat of a federal government shutdown and threats not to increase the federal government’s debt limit, may affect investor and consumer confidence and may adversely impact financial markets and the broader economy, perhaps suddenly and to a significant degree. The U.S. government has recently reduced federal corporate income tax rates, and future legislative, regulatory and policy changes may result in more restrictions on international trade, less stringent prudential regulation of certain players in the financial market , and significant new investments in infrastructure and national defense. Markets may react strongly to expectations about the changes in these policies, which could increase volatility, especially if the markets’ expectations for changes in government policies are not borne out.
Market timing | Because of specific securities a fund may invest in, it could be subject to the risk of market timing activities by fund shareholders. Some examples of these types of securities are high-yield, small-cap and foreign securities. Typically, foreign securities offer the most opportunity for these market timing activities. A fund generally prices these foreign securities using their closing prices from the foreign markets in which they trade, typically prior to a fund’s calculation of its NAV. These prices may be affected by events that occur after the close of a foreign market but before a fund prices its shares. In such instances, a fund may fair value foreign securities. However, some investors may engage in frequent short-term trading in a fund to take advantage of any price differentials that may be reflected in the NAV of a fund’s shares. There is no assurance that fair valuation of securities can reduce or eliminate market timing. There is no guarantee that Carillon Tower Advisers, Inc. (the “Manager”) and transfer agent of the Funds can detect all market timing activities.
Maturity | A Fund will invest in fixed income securities of varying maturities. A fixed income security’s maturity is one indication of the interest rate exposure of a security. Generally, the longer a fixed income security’s maturity, the greater the risk. Conversely, the shorter a fixed income security’s maturity, the lower the risk.
Mid-cap companies | Investments in mid-cap companies generally involve greater risks than investing in large-capitalization companies. Mid-cap companies often have narrower markets and limited managerial and financial resources compared to larger, more established companies. The performance of mid-cap companies can be more volatile, and their stocks less liquid, compared to larger, more established companies, which could increase the volatility of a fund’s portfolio and performance. Shareholders of a fund that invests in mid-cap companies should expect that the value of the fund’s shares will be more volatile than a fund that invests exclusively in large-cap companies. Generally, the smaller the company size, the greater these risks.
Mortgage- and asset-backed securities | Mortgage- and asset-backed security risk, which is possible in an unstable or depressed housing market, arises from the potential for mortgage failure or premature repayment of principal, or a delay in the repayment of principal. The reduced value of the fund’s securities
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and the potential loss of principal as a result of a mortgagee’s failure to repay would have a negative impact on the fund. Premature repayment of principal would make it difficult for the fund to reinvest the prepaid principal at a time when interest rates on new mortgages are declining, thereby reducing the fund’s income. Conversely, a delay in the repayment of principal could lengthen the expected maturity of the securities, thereby increasing the potential for loss when prevailing interest rates rise, which could cause the values of the securities to fall sharply.
Municipal securities | A municipal security’s value, interest payments or repayment of principal could be affected by economic, legislative or political changes. Municipal securities are also subject to potential volatility in the municipal market and the fund’s share price, yield and total return may fluctuate in response to municipal bond market movements. Municipal securities with principal and interest payments that are made from the revenues of a specific project or facility, as opposed to general tax revenues, may have increased risks. Changes in a municipality’s financial health may affect its ability to make interest and principal payments when due.
Other investment companies, including ETFs | Investments in the securities of other investment companies, including exchange-traded funds (“ETFs”) (which may, in turn invest in equities, bonds, and other financial vehicles), may involve duplication of advisory fees and certain other expenses. By investing in another investment company, a fund becomes a shareholder of that investment company. As a result, fund shareholders indirectly bear the fund’s proportionate share of the fees and expenses paid by the other investment company, in addition to the fees and expenses fund shareholders indirectly bear in connection with the fund’s own operations. Investments in other investment companies will subject a fund to the risks of the types of investments in which the investment companies invest.
As a shareholder, a fund must rely on the other investment company to achieve its investment objective. If the other investment company fails to achieve its investment objective, the value of the fund’s investment will typically decline, adversely affecting the fund’s performance. In addition, because ETFs are listed on national stock exchanges and are traded like stocks listed on an exchange, ETF shares may potentially trade at a discount or a premium. Investments in ETFs are also subject to brokerage and other trading costs, which could result in greater expenses to a fund. Finally, because the value of ETF shares depends on the demand in the market, the portfolio manager may not be able to liquidate a fund’s holdings of ETF shares at the most optimal time, adversely affecting the fund’s performance. An ETF that tracks an index may not precisely replicate the returns of its benchmark index.
Portfolio turnover | A fund may engage in more active and frequent trading of portfolio securities to a greater extent than certain other mutual funds with similar investment objectives. A fund’s turnover rate may vary greatly from year to year or during periods within a year. A high rate of portfolio turnover may lead to greater transaction costs, result in adverse tax consequences to investors (from increased recognition of net capital gains, which are taxable to shareholders when distributed to them) and adversely affect performance.
Redemptions | A fund may experience periods of heavy redemptions that could cause a fund to sell assets at inopportune times or at a loss or depressed value. Redemption risk is greater to the extent that one or more investors or intermediaries control a large percentage of investments in a fund, have short investment horizons, or have unpredictable cash flow needs. A general rise in interest rates has the potential to cause investors to move out of fixed income securities on a large scale, which may increase redemptions from mutual funds that hold large amounts of fixed income securities. This, coupled with a reduction in the ability or willingness of dealers and other institutional investors to buy or hold fixed income securities, may result in decreased liquidity and increased volatility in the fixed income markets, and heightened redemption risk. Heavy redemptions, whether by a few large investors or many smaller investors, could hurt a fund’s performance.
Sectors | Companies that are in similar businesses may be similarly affected by particular economic or market events, which may, in certain circumstances, cause the value of securities of all companies in a particular sector of the market to change. To the extent a fund has substantial holdings within a particular sector, the risks associated with that sector increase.
Information technology sector | The information technology sector includes companies engaged in internet software and services, technology hardware and storage peripherals, electronic equipment instruments and components, and semiconductors and semiconductor equipment. Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Information technology companies may have limited product lines, markets, financial resources or personnel. The products of information technology companies may face rapid product obsolescence due to technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Failure to introduce new products, develop and maintain a loyal customer base or achieve general market acceptance for their products could have a material adverse effect on a company’s business. Companies in the information technology sector are heavily dependent on intellectual property and the loss of patent, copyright and trademark protections may adversely affect the profitability of these companies.
Short sales | A short sale creates the risk of a loss if the price of the underlying security increases, thus increasing the cost to a fund of buying those securities to cover the short position. The potential for greater losses may be incurred due to general market forces, such as a lack of securities available for short sellers to borrow for delivery, or increases in the price of a security sold short. A fund may lose more money than the actual cost of a short sale investment. Also, there is the risk that the third party to the short sale may fail to honor its contract terms, causing a loss to a fund.
Small-cap companies | Investments in small-cap companies generally involve greater risks than investing in large-capitalization companies. Companies with smaller market capitalizations generally have lower volume of shares traded daily, less liquid stock and more volatile stock prices. Companies with smaller market capitalizations also tend to have a limited product or service base and limited access to capital. Newer companies with unproven business strategies also tend to be smaller companies. The above factors increase risks and make these companies more likely to fail than companies with larger market capitalizations, and could increase the volatility of a fund’s portfolio and performance. Shareholders of a fund that invests in small-cap companies should expect that the value of the fund’s shares will be more volatile than a fund that invests exclusively in mid-cap or large-cap companies. Generally, the smaller the company size, the greater these risks.
U.S. Government securities and Government sponsored enterprises | A security backed by the U.S. Treasury or the full faith and credit of the United States is only guaranteed by the applicable entity only as to the timely payment of interest and principal when held to maturity. The market prices for such securities are not guaranteed and will fluctuate. Investments in securities issued by Government sponsored enterprises are debt obligations issued by agencies and instrumentalities of the U.S. Government. These obligations vary in the level of support they receive from the U.S. Government. They may be: (1) supported by the full faith and credit of the U.S. Treasury, such as those of the Government National Mortgage Association; (2) supported by the right of the issuer to borrow from the U.S. Treasury, such as those of the Federal Home Loan Bank and the Federal Farm Credit Banks; (3) supported by the discretionary authority of the U.S. Government to purchase the agency obligations, such as those of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation; or (4) supported only by the credit of the issuer, such as those of the Federal Farm Credit Bureau. The U.S. Government may choose not to provide financial support to U.S. Government
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Principal Risks
(UNAUDITED) |
sponsored agencies or instrumentalities if it is not legally obligated to do so. In such circumstances, if the issuer defaulted, a fund may not be able to recover its investment from the U.S. Government. Like all bonds, U.S. Government securities and Government-sponsored enterprise bonds are also subject to credit risk.
Valuation | Securities held by a fund may be priced by an independent pricing service and may also be priced using dealer quotes or fair valuation methodologies in accordance with valuation procedures adopted by the fund’s
Board. The prices provided by the independent pricing service or dealers or the fair valuations may be different from the prices used by other mutual funds or from the prices at which securities are actually bought and sold.
Value stocks | Investments in value stocks are subject to the risk that their true worth may not be fully realized by the market. This may result in the value stocks’ prices remaining undervalued for extended periods of time. A fund’s performance also may be affected adversely if value stocks remain unpopular with or lose favor among investors.
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Go Paperless with eDelivery
eDelivery is the most convenient, economical and
environmentally-conscious way to receive information about your fund.
To enroll, please visit carillontower.com/eDelivery |
Please consider the investment objectives, risks, charges and expenses of any fund carefully before investing. Contact Carillon Fund Services at 800.421.4184 or carillontower.com or your financial adviser for a prospectus, or summary prospectus, which contains this and other important information about the Carillon Family of Funds. Read the prospectus, or summary prospectus, carefully before you invest or send money.
This report is for the information of Shareholders of the Carillon Mutual Funds. If you wish to review additional information on the portfolio holdings of a fund, a complete schedule has been filed with the Securities and Exchange Commission (“Commission”) for the first and third quarters of each fund’s fiscal year end on Form N-Q. These filings are available on the Commissions’s website at www.sec.gov and may be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. Information on the operations of the Public Reference Room may be obtained by calling 800.SEC.0330. A description of each fund’s proxy voting policies, procedures and information regarding how each fund voted proxies relating to portfolio securities during the 12-month period ended June 30, 2017 is available without charge, upon request, by calling the Carillon Family of Funds, toll-free at the number above, by accessing our website at carillontower.com or by accessing the Commission’s website at www.sec.gov. |
880 Carillon Parkway | St. Petersburg, FL 33716 | 800.421.4184 | carillontower.com |
Carillon Fund Distributors, Inc. , Member FINRA
Not FDIC Insured | May Lose Value | No Bank Guarantee |
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Item 2. Code of Ethics
Not applicable to semi-annual reports.
Item 3. Audit Committee Financial Expert
Not applicable to semi-annual reports.
Item 4. Principal Accountant Fees and Services
Not applicable to semi-annual reports.
Item 5. Audit Committee of Listed Registrants
Not applicable to the registrant.
Item 6. Schedule of Investments
Included as part of report to shareholders under Item 1.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-end Management Investment Companies
Not applicable to the registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies
Not applicable to the registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable to the registrant.
Item 10. Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominees to the Trust’s Board of Trustees, since the Trust last provided disclosure in response to this item. The procedures by which shareholders may recommend nominees to the Board are included in the Nominating Committee Charter for the Trust.
Item 11. Controls and Procedures
(a) | Based on an evaluation of the disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended), the Principal Executive Officer and Principal Financial Officer of Carillon Series Trust have concluded that such disclosure controls and procedures are effective as of June 25, 2018. |
(b) | There was no change in the internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940, as amended) of Carillon Series Trust that |
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occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, its internal control over financial reporting. |
Item 12. Exhibits
(a)(1) Not applicable to semi-annual reports.
(a)(2) The certifications required by Rule 30a-2(a) of the Investment Company Act of 1940, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 is filed and attached hereto as Exhibit 99.CERT.
(a)(3) Not applicable to the registrant.
(b) The certifications required by Rule 30a-2(b) of the Investment Company Act of 1940, as amended, and Section 906 of the Sarbanes-Oxley Act of 2002 is filed and attached hereto as Exhibit 99.906CERT.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CARILLON SERIES TRUST | ||||||
Date: June 25, 2018 | ||||||
/s/ Susan L. Walzer | ||||||
Susan L. Walzer | ||||||
Principal Executive Officer |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
Date: June 25, 2018 | CARILLON SERIES TRUST | |||||
/s/ Susan L. Walzer | ||||||
Susan L. Walzer | ||||||
Principal Executive Officer | ||||||
Date: June 25, 2018 | ||||||
/s/ Carolyn Gill | ||||||
Carolyn Gill | ||||||
Principal Financial Officer |