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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMN-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, 2019
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Item 1. Reports to Shareholders
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Semiannual Report for thesix-month period ended April 30, 2019 (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 Small Cap Growth 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 |
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Funds’ shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from a Fund or from your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a Fund or your financial intermediary electronically by going to carillontower.com/eDelivery.
You may elect to receive all future reports in paper free of charge. You can inform a Fund that you wish to continue receiving paper copies of your shareholder reports by calling 800.421.4184, or you may directly inform your financial intermediary of your wish. A notice that will be mailed to you each time a report is posted will also include instructions for informing a Fund that you wish to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper from a Fund will apply to all Funds held with the Carillon Mutual Funds or your financial intermediary, as applicable.
880 Carillon Parkway | St. Petersburg, FL 33716 | 800.421.4184 | carillontower.com
Not FDIC Insured | May Lose Value | No Bank Guarantee |
Carillon Fund Distributors, Inc. , Member FINRA
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Dear Fellow Shareholders:
I am pleased to present the semi-annual report of the Carillon Family of Funds for thesix-month period that ended April 30, 2019.
This period included one of the worst Decembers for the stock market since the Great Depression, yet also one of the strongest four-month starts in decades. The same period also provided a reminder—if any was needed—that capital markets can be volatile. The U.S. Federal Reserve, after raising interest rates and selling assets through 2018, shifted sharply to a dovish stance with no immediate rate increases forecast and a pause in “quantitative tightening.” Inflation appears to be at bay, even amid strong employment and rising wages.
We see potential in market volatility for our investment managers and their research-driven strategies. In such an environment, experienced, research-based teams can consider specific investment opportunities. We believe that Carillon’s ability to offer investors a diverse array of quality strategies, includingsmall-cap,mid-cap,large-cap and international equities, fixed-income and tactical allocation, can help navigate current conditions and build long-term plans. As part of our continued commitment to providing active investing solutions, on April 1, 2019, Eagle Asset Management, Inc.1 acquired full ownership of ClariVest Asset Management LLC1, the San Diego-based firm in which it previously held a minority stake. This further strengthens our partnership as we work together to serve clients.
We believe that investors should not let short-term volatility deter them from their long-term focus; now may be a good time to work with your financial advisor and to be deliberate in your investment planning and decision-making.
As with all investments, investing in any mutual fund carries certain risks. The principal risk factors for each fund are described at the end of this report.Carefully consider the investment objectives, charges and expenses of any fund before you invest. Contact us at 800.421.4184 or carillontower.com or call your financial advisor 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.
We are grateful for your continued support of the Carillon Family of Funds and hope that we can continue to be a partner in helping you achieve your long-term financial goals.
Sincerely,
J. Cooper Abbott, CAIA, CFA
President
June 19, 2019
Performance data represented are historical and do not guarantee future results. Investment return and principal value of an investment will fluctuate, and you may have a gain or loss when you sell shares. Current performance may be higher or lower than the performance data quoted. To obtain more current performance data as of the most recentmonth-end, please visit our website at carillontower.com.
1 Carillon Tower Advisers, Inc., is the investment adviser for the Carillon Family of Funds, and Eagle Asset Management, Inc., and ClariVest Asset Management LLC aresub-advisers to certain of 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) | 04.30.2019 |
COMMON STOCKS—99.2% | Shares | Value | ||||||||||
Internet & direct marketing retail—4.9% | ||||||||||||
Amazon.com, Inc.* | 14,100 | $27,163,932 | ||||||||||
IT services—11.1% | ||||||||||||
Amdocs Ltd. | 7,300 | 402,084 | ||||||||||
Fiserv, Inc.* | 80,400 | 7,014,096 | ||||||||||
Global Payments, Inc. | 24,100 | 3,520,287 | ||||||||||
MasterCard, Inc., Class A | 67,130 | 17,067,131 | ||||||||||
PayPal Holdings, Inc.* | 60,000 | 6,766,200 | ||||||||||
Visa, Inc., Class A | 120,000 | 19,731,600 | ||||||||||
Worldpay, Inc., Class A* | 57,846 | 6,780,130 | ||||||||||
Life sciences tools & services—1.5% | ||||||||||||
Thermo Fisher Scientific, Inc. | 29,900 | 8,295,755 | ||||||||||
Machinery—3.1% | ||||||||||||
Caterpillar, Inc. | 38,700 | 5,395,554 | ||||||||||
Cummins, Inc. | 26,100 | 4,340,169 | ||||||||||
Ingersoll-Rand PLC | 41,400 | 5,076,054 | ||||||||||
Oshkosh Corp. | 26,700 | 2,205,153 | ||||||||||
Media—1.1% | ||||||||||||
Comcast Corp., Class A | 144,000 | 6,268,320 | ||||||||||
Metals & mining—0.3% | ||||||||||||
Steel Dynamics, Inc. | 58,200 | 1,843,776 | ||||||||||
Multiline retail—1.5% | ||||||||||||
Kohl’s Corp. | 70,733 | 5,029,116 | ||||||||||
Target Corp. | 43,200 | 3,344,544 | ||||||||||
Oil, gas & consumable fuels—0.3% | ||||||||||||
Phillips 66 | 15,800 | 1,489,466 | ||||||||||
Pharmaceuticals—2.5% | ||||||||||||
Eli Lilly & Co. | 21,200 | 2,481,248 | ||||||||||
Johnson & Johnson | 19,100 | 2,696,920 | ||||||||||
Merck & Co., Inc. | 110,000 | 8,658,100 | ||||||||||
Real estate management & development—1.1% | ||||||||||||
CBRE Group, Inc., Class A* | 111,285 | 5,794,610 | ||||||||||
Road & rail—3.3% | ||||||||||||
CSX Corp. | 85,800 | 6,832,254 | ||||||||||
Norfolk Southern Corp. | 29,300 | 5,977,786 | ||||||||||
Union Pacific Corp. | 30,500 | 5,399,720 | ||||||||||
Semiconductors & semiconductor equipment—3.6% | ||||||||||||
Broadcom, Inc. | 18,900 | 6,017,760 | ||||||||||
Intel Corp. | 51,100 | 2,608,144 | ||||||||||
KLA-Tencor Corp. | 30,600 | 3,900,888 | ||||||||||
Micron Technology, Inc.* | 63,200 | 2,658,192 | ||||||||||
Xilinx, Inc. | 38,600 | 4,637,404 | ||||||||||
Software—15.7% | ||||||||||||
Adobe, Inc.* | 46,400 | 13,421,200 | ||||||||||
Microsoft Corp. | 341,800 | 44,639,080 | ||||||||||
Palo Alto Networks, Inc.* | 15,200 | 3,782,216 | ||||||||||
salesforce.com, Inc.* | 53,900 | 8,912,365 | ||||||||||
SS&C Technologies Holdings, Inc. | 54,700 | 3,701,002 | ||||||||||
Synopsys, Inc.* | 68,700 | 8,318,196 | ||||||||||
Workday, Inc., Class A* | 17,200 | 3,536,836 | ||||||||||
Specialty retail—5.1% | ||||||||||||
Advance Auto Parts, Inc. | 20,800 | 3,459,456 | ||||||||||
AutoZone, Inc.* | 2,600 | 2,673,606 | ||||||||||
Burlington Stores, Inc.* | 13,781 | 2,327,749 | ||||||||||
Foot Locker, Inc. | 36,400 | 2,082,444 |
2 | The accompanying notes are an integral part of the financial statements. |
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Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON CLARIVEST CAPITAL APPRECIATION FUND(cont’d) | ||||||||||||
COMMON STOCKS—99.2% | Shares | Value | ||||||||||
Specialty retail (cont’d) | ||||||||||||
Ross Stores, Inc. | 40,500 | $3,955,230 | ||||||||||
The Home Depot, Inc. | 65,800 | 13,403,460 | ||||||||||
Technology hardware, storage & peripherals—6.9% | ||||||||||||
Apple, Inc. | 160,066 | 32,120,444 | ||||||||||
NetApp, Inc. | 82,100 | 5,980,985 | ||||||||||
Textiles, apparel & luxury goods—1.2% | ||||||||||||
Capri Holdings Ltd.* | 45,411 | 2,001,717 | ||||||||||
PVH Corp. | 37,600 | 4,850,024 | ||||||||||
Trading companies & distributors—0.8% | ||||||||||||
United Rentals, Inc.* | 32,900 | 4,636,268 | ||||||||||
Total common stocks (cost $358,140,883) | 546,277,499 | |||||||||||
Total investment portfolio (cost $358,140,883)—99.2% |
| 546,277,499 | ||||||||||
Other assets in excess of liabilities—0.8% | 4,534,540 | |||||||||||
Total net assets—100.0% | $550,812,039 |
*Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Information technology | 39.5% | |||
Consumer discretionary | 14.1% | |||
Communication services | 12.6% | |||
Health care | 12.0% | |||
Industrials | 10.3% | |||
Real estate | 4.0% | |||
Consumer staples | 3.8% | |||
Financials | 1.9% | |||
Materials | 0.7% | |||
Energy | 0.3% |
COMMON STOCKS—98.1% | Shares | Value | ||||||||||
France—11.3% | ||||||||||||
AirFrance-KLM* | 7,785 | $89,835 | ||||||||||
Cie Generale des Etablissements Michelin | 1,402 | 181,294 | ||||||||||
Eiffage S.A. | 2,176 | 227,200 | ||||||||||
ENGIE S.A. | 7,877 | 116,915 | ||||||||||
Kering S.A. | 243 | 143,797 | ||||||||||
Pernod Ricard S.A. | 384 | 66,957 | ||||||||||
Peugeot S.A. | 9,702 | 254,376 | ||||||||||
Renault S.A. | 1,442 | 98,383 | ||||||||||
Sanofi | 1,927 | 168,130 | ||||||||||
VINCI S.A. | 1,902 | 192,096 | ||||||||||
Germany—5.6% | ||||||||||||
Allianz SE | 1,471 | 355,563 | ||||||||||
CANCOM SE | 1,287 | 65,140 | ||||||||||
Deutsche Lufthansa AG | 2,206 | 53,372 | ||||||||||
Deutsche Telekom AG | 3,693 | 61,876 | ||||||||||
Merck KGaA | 1,220 | 130,041 | ||||||||||
ProSiebenSat.1 Media SE | 1,916 | 30,289 | ||||||||||
TAG Immobilien AG | 3,158 | 71,118 | ||||||||||
Hong Kong—1.8% | ||||||||||||
CK Asset Holdings Ltd. | 7,672 | 61,687 | ||||||||||
Swire Pacific Ltd., Class A | 9,500 | 120,303 | ||||||||||
Wheelock and Co. Ltd. | 8,000 | 57,011 | ||||||||||
Israel—2.5% | ||||||||||||
Bank LeumiLe-Israel B.M. | 10,115 | 69,267 | ||||||||||
Israel Discount Bank Ltd., Class A | 36,692 | 143,234 | ||||||||||
Teva Pharmaceutical Industries Ltd., Sponsored ADR* | 8,000 | 121,760 | ||||||||||
Italy—3.9% | ||||||||||||
Enel SpA | 44,493 | 281,738 | ||||||||||
Eni SpA | 6,451 | 109,933 | ||||||||||
Leonardo SpA | 11,786 | 136,303 | ||||||||||
Japan—25.4% | ||||||||||||
ANA Holdings, Inc. | 1,500 | 52,495 | ||||||||||
Asahi Group Holdings Ltd. | 3,100 | 135,170 | ||||||||||
Central Glass Co. Ltd. | 2,400 | 56,088 | ||||||||||
Chubu Electric Power Co., Inc. | 4,600 | 66,891 | ||||||||||
Cosmo Energy Holdings Co. Ltd. | 1,500 | 30,976 | ||||||||||
GungHo Online Entertainment, Inc. | 20,900 | 65,206 | ||||||||||
Haseko Corp. | 7,700 | 93,124 | ||||||||||
Hitachi Ltd. | 6,200 | 206,201 | ||||||||||
Hokkaido Electric Power Co., Inc. | 8,300 | 46,551 | ||||||||||
Honda Motor Co. Ltd. | 4,600 | 128,354 | ||||||||||
ITOCHU Corp. | 18,400 | 332,000 | ||||||||||
KDDI Corp. | 3,100 | 71,447 | ||||||||||
Marubeni Corp. | 44,400 | 318,152 | ||||||||||
Meiko Electronics Co. Ltd. | 1,400 | 27,468 | ||||||||||
Mitsubishi Corp. | 3,100 | 85,398 | ||||||||||
Mitsubishi UFJ Financial Group, Inc. | 26,000 | 129,000 | ||||||||||
Nichi-iko Pharmaceutical Co. Ltd. | 3,000 | 35,959 | ||||||||||
Nihon Unisys Ltd. | 1,500 | 38,454 | ||||||||||
Nippon Carbon Co. Ltd. | 1,500 | 66,194 | ||||||||||
Nippon Light Metal Holdings Co. Ltd. | 10,700 | 23,653 | ||||||||||
Nippon Suisan Kaisha Ltd. | 7,700 | 54,027 | ||||||||||
Nippon Telegraph & Telephone Corp. | 6,200 | 257,972 | ||||||||||
Nipro Corp. | 4,600 | 57,141 | ||||||||||
NS Solutions Corp. | 3,100 | 83,293 | ||||||||||
Ricoh Co. Ltd. | 7,700 | 77,901 | ||||||||||
Sawai Pharmaceutical Co. Ltd. | 1,400 | 75,222 |
The accompanying notes are an integral part of the financial statements. | 3 |
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Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON CLARIVEST INTERNATIONAL STOCK FUND(cont’d) | ||||||||||||
COMMON STOCKS—98.1% | Shares | Value | ||||||||||
Japan (cont’d) | ||||||||||||
Showa Denko KK | 3,900 | $133,146 | ||||||||||
SoftBank Group Corp. | 1,400 | 148,444 | ||||||||||
Sony Corp. | 4,600 | 231,693 | ||||||||||
Sumitomo Corp. | 5,500 | 78,830 | ||||||||||
The Hiroshima Bank Ltd. | 6,200 | 33,444 | ||||||||||
The Kansai Electric Power Co., Inc. | 9,100 | 110,094 | ||||||||||
Toyota Motor Corp. | 1,800 | 111,439 | ||||||||||
Netherlands—5.5% | ||||||||||||
Aegon N.V. | 13,272 | 69,282 | ||||||||||
ASR Nederland N.V. | 934 | 41,558 | ||||||||||
Koninklijke Ahold Delhaize N.V. | 6,365 | 153,407 | ||||||||||
NN Group N.V. | 5,948 | 259,569 | ||||||||||
NXP Semiconductors N.V. | 2,100 | 221,802 | ||||||||||
Norway—0.9% | ||||||||||||
Austevoll Seafood ASA | 2,987 | 34,798 | ||||||||||
Leroy Seafood Group ASA | 12,277 | 88,891 | ||||||||||
Singapore—0.2% | ||||||||||||
Yanlord Land Group Ltd. | 31,800 | 34,159 | ||||||||||
Spain—2.3% | ||||||||||||
Almirall S.A. | 1,976 | 31,887 | ||||||||||
Banco Bilbao Vizcaya Argentaria S.A. | 9,410 | 57,221 | ||||||||||
Banco Santander S.A. | 13,870 | 70,312 | ||||||||||
Iberdrola S.A. | 12,031 | 109,331 | ||||||||||
Repsol S.A. | 2,851 | 48,378 | ||||||||||
Sweden—4.5% | ||||||||||||
Essity AB, Class B | 5,694 | 168,832 | ||||||||||
SSAB AB, Class B | 10,086 | 32,526 | ||||||||||
Svenska Cellulosa AB SCA, Class B | 9,338 | 81,519 | ||||||||||
Telefonaktiebolaget LM Ericsson, Class B | 17,380 | 171,926 | ||||||||||
Volvo AB, Class B | 10,193 | 163,358 | ||||||||||
Switzerland—13.0% | ||||||||||||
Alcon, Inc.* | 837 | 48,202 | ||||||||||
Lonza Group AG | 306 | 94,502 | ||||||||||
Nestle S.A. | 4,368 | 420,541 | ||||||||||
Novartis AG | 4,185 | 342,919 | ||||||||||
Roche Holding AG | 1,334 | 351,994 | ||||||||||
Straumann Holding AG | 112 | 90,515 | ||||||||||
Swiss Life Holding AG* | 446 | 209,677 | ||||||||||
UBS Group AG | 8,538 | 114,490 | ||||||||||
Zurich Insurance Group AG | 292 | 93,080 | ||||||||||
United Kingdom—16.2% | ||||||||||||
3i Group PLC | 15,173 | 212,308 | ||||||||||
Ashtead Group PLC | 6,926 | 192,316 | ||||||||||
Aviva PLC | 15,372 | 86,331 | ||||||||||
Barclays PLC | 51,958 | 111,502 | ||||||||||
Bellway PLC | 2,268 | 92,098 | ||||||||||
BP PLC | 23,771 | 172,856 | ||||||||||
Electrocomponents PLC | 6,146 | 51,825 | ||||||||||
GlaxoSmithKline PLC | 12,567 | 258,167 | ||||||||||
Imperial Brands PLC | 2,529 | 80,468 | ||||||||||
Lloyds Banking Group PLC | 113,134 | 92,525 | ||||||||||
Micro Focus International PLC* | 2,261 | 57,327 | ||||||||||
Persimmon PLC | 2,039 | 59,565 | ||||||||||
Redrow PLC | 5,444 | 43,820 | ||||||||||
Rio Tinto PLC | 1,721 | 100,402 | ||||||||||
Royal Dutch Shell PLC, Class B | 7,327 | 236,467 |
COMMON STOCKS—98.1% | Shares | Value | ||||||||||
United Kingdom (cont’d) | ||||||||||||
Standard Chartered PLC | 9,886 | $90,390 | ||||||||||
Tesco PLC | 81,802 | 266,891 | ||||||||||
Total common stocks (cost $12,359,196) | 13,379,564 | |||||||||||
PREFERRED STOCKS—1.2% | ||||||||||||
Germany—1.2% | ||||||||||||
Volkswagen AG | 921 | 160,809 | ||||||||||
Total preferred stocks (cost $166,507) | 160,809 | |||||||||||
Total investment portfolio (cost $12,525,703)—99.3% | 13,540,373 | |||||||||||
Other assets in excess of liabilities—0.7% | 92,455 | |||||||||||
Total net assets—100.0% | $13,632,828 |
*Non-income producing security
ADR—American Depositary Receipt
Sector allocation | ||||
Sector | Percent of net assets | |||
Financials | 16.4% | |||
Industrials | 15.7% | |||
Health care | 14.8% | |||
Consumer discretionary | 11.7% | |||
Consumer staples | 11.5% | |||
Information technology | 7.3% | |||
Energy | 6.3% | |||
Utilities | 5.4% | |||
Communication services | 4.7% | |||
Materials | 3.0% | |||
Real estate | 2.5% |
Industry allocation | ||||||||
Industry | Value | Percent of net assets | ||||||
Pharmaceuticals | $1,680,008 | 12.3% | ||||||
Insurance | 1,115,061 | 8.2% | ||||||
Trading companies & distributors | 1,006,696 | 7.4% | ||||||
Oil, gas & consumable fuels | 856,618 | 6.3% | ||||||
Banks | 796,895 | 5.8% | ||||||
Automobiles | 753,361 | 5.5% | ||||||
Electric utilities | 614,606 | 4.5% | ||||||
Food products | 598,256 | 4.4% | ||||||
Household durables | 520,300 | 3.8% | ||||||
Food & staples retailing | 420,298 | 3.1% | ||||||
Construction & engineering | 419,295 | 3.1% |
4 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON CLARIVEST INTERNATIONAL STOCK FUND(cont’d) | ||||||||
Industry allocation(cont’d) | ||||||||
Industry | Value | Percent of net assets | ||||||
Real estate management & development | $344,278 | 2.5% | ||||||
Capital markets | 326,797 | 2.4% | ||||||
Diversified telecommunication services | 319,848 | 2.3% | ||||||
Beverages | 296,426 | 2.2% | ||||||
Airlines | 293,682 | 2.1% | ||||||
Electronic equipment, instruments & components | 285,494 | 2.1% | ||||||
Health care equipment & supplies | 246,908 | 1.8% | ||||||
Semiconductors & semiconductor equipment | 221,802 | 1.6% | ||||||
Wireless telecommunication services | 219,891 | 1.6% | ||||||
Metals & mining | 191,900 | 1.4% | ||||||
IT services | 186,888 | 1.4% | ||||||
Auto components | 181,294 | 1.3% | ||||||
Communications equipment | 171,926 | 1.3% | ||||||
Household products | 168,832 | 1.2% | ||||||
Machinery | 163,358 | 1.2% | ||||||
Textiles, apparel & luxury goods | 143,797 | 1.1% | ||||||
Aerospace & defense | 136,303 | 1.0% | ||||||
Chemicals | 133,146 | 1.0% | ||||||
Multi-utilities | 116,915 | 0.9% | ||||||
Life sciences tools & services | 94,502 | 0.7% | ||||||
Paper & forest products | 81,519 | 0.6% | ||||||
Tobacco | 80,468 | 0.6% | ||||||
Technology hardware, storage & peripherals | 77,901 | 0.6% | ||||||
Electrical equipment | 66,194 | 0.5% | ||||||
Entertainment | 65,206 | 0.5% | ||||||
Software | 57,327 | 0.4% | ||||||
Building products | 56,088 | 0.4% | ||||||
Media | 30,289 | 0.2% |
EXCHANGE TRADED FUNDS—98.3% | Shares | Value | ||||||||||
Foreign—20.0% | ||||||||||||
Equity—20.0% | ||||||||||||
iShares Core MSCI EAFE ETF | 48,229 | $3,017,206 | ||||||||||
iShares Core MSCI Emerging Markets ETF | 18,761 | 991,331 | ||||||||||
Total foreign exchange traded funds (cost $3,702,665) |
| 4,008,537 | ||||||||||
Total exchange traded funds (cost $18,229,992) | 19,708,248 | |||||||||||
Total investment portfolio (cost $18,229,992)—98.3% |
| 19,708,248 | ||||||||||
Other assets in excess of liabilities—1.7% | 345,509 | |||||||||||
Total net assets—100.0% | $20,053,757 |
ETF—Exchange Traded Fund
(a) A copy of the financial statements for each underlying fund in which this Fund invests can be obtained by visiting www.sec.gov.
Asset allocation | ||||
Asset class | Percent of net assets | |||
Fixed income | 53.1% | |||
Equity | 45.2% |
The accompanying notes are an integral part of the financial statements. | 5 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON EAGLE GROWTH & INCOME FUND(cont’d) | ||||||||||||
COMMON STOCKS—96.0% | Shares | Value | ||||||||||
Health care equipment & supplies—5.2% | ||||||||||||
Abbott Laboratories | 285,638 | $22,725,360 | ||||||||||
Medtronic PLC | 217,183 | 19,288,022 | ||||||||||
Hotels, restaurants & leisure—5.9% | ||||||||||||
Carnival Corp. | 394,786 | 21,657,960 | ||||||||||
McDonald’s Corp. | 130,171 | 25,717,884 | ||||||||||
Household products—3.4% | ||||||||||||
The Procter & Gamble Co. | 256,713 | 27,334,800 | ||||||||||
Industrial conglomerates—5.8% | ||||||||||||
3M Co. | 78,558 | 14,887,527 | ||||||||||
Honeywell International, Inc. | 181,924 | 31,587,464 | ||||||||||
Multi-utilities—2.2% | ||||||||||||
Sempra Energy | 139,638 | 17,866,682 | ||||||||||
Oil, gas & consumable fuels—7.7% | ||||||||||||
Chevron Corp. | 216,239 | 25,961,654 | ||||||||||
Occidental Petroleum Corp. | 268,273 | 15,795,914 | ||||||||||
TOTAL S.A., Sponsored ADR | 358,880 | 19,978,850 | ||||||||||
Pharmaceuticals—10.0% | ||||||||||||
Johnson & Johnson | 192,641 | 27,200,909 | ||||||||||
Merck & Co., Inc. | 290,219 | 22,843,138 | ||||||||||
Novartis AG, Sponsored ADR | 184,980 | 15,210,905 | ||||||||||
Pfizer, Inc. | 371,005 | 15,066,513 | ||||||||||
Road & rail—3.5% | ||||||||||||
Union Pacific Corp. | 157,508 | 27,885,216 | ||||||||||
Software—4.4% | ||||||||||||
Microsoft Corp. | 270,247 | 35,294,258 | ||||||||||
Specialty retail—3.2% | ||||||||||||
The Home Depot, Inc. | 127,279 | 25,926,732 | ||||||||||
Tobacco—2.5% | ||||||||||||
Altria Group, Inc. | 360,807 | 19,602,644 | ||||||||||
Total common stocks (cost $543,235,325) | 769,568,627 | |||||||||||
Total investment portfolio (cost $543,235,325)—96.0% |
| 769,568,627 | ||||||||||
Other assets in excess of liabilities—4.0% | 32,251,028 | |||||||||||
Total net assets—100.0% | $801,819,655 |
ADR—American Depositary Receipt
Sector allocation | ||||
Sector | Percent of net assets | |||
Health care | 15.3% | |||
Consumer staples | 13.8% | |||
Industrials | 12.7% | |||
Financials | 10.4% | |||
Consumer discretionary | 9.1% | |||
Information technology | 8.3% | |||
Energy | 7.7% | |||
Real estate | 7.2% | |||
Communication services | 6.0% | |||
Utilities | 4.3% | |||
Materials | 1.2% |
6 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON EAGLE MID CAP GROWTH FUND(cont’d) | ||||||||||||
COMMON STOCKS—98.2% | Shares | Value | ||||||||||
Equity real estate investment trusts (REITs)—2.3% | ||||||||||||
SBA Communications Corp.* | 604,128 | $123,078,997 | ||||||||||
Health care equipment & supplies—5.9% | ||||||||||||
ABIOMED, Inc.* | 98,363 | 27,286,880 | ||||||||||
Align Technology, Inc.* | 210,008 | 68,185,397 | ||||||||||
DENTSPLY SIRONA, Inc. | 720,855 | 36,857,316 | ||||||||||
DexCom, Inc.* | 202,165 | 24,476,117 | ||||||||||
Edwards Lifesciences Corp.* | 416,159 | 73,273,115 | ||||||||||
IDEXX Laboratories, Inc.* | 267,606 | 62,084,592 | ||||||||||
Intuitive Surgical, Inc.* | 53,383 | 27,258,961 | ||||||||||
Health care providers & services—1.6% | ||||||||||||
Centene Corp.* | 854,585 | 44,062,403 | ||||||||||
WellCare Health Plans, Inc.* | 172,998 | 44,694,033 | ||||||||||
Health care technology—0.7% | ||||||||||||
Veeva Systems, Inc., Class A* | 283,942 | 39,714,968 | ||||||||||
Hotels, restaurants & leisure—3.9% | ||||||||||||
Caesars Entertainment Corp.* | 4,399,152 | 41,176,063 | ||||||||||
Chipotle Mexican Grill, Inc.* | 94,425 | 64,968,177 | ||||||||||
Royal Caribbean Cruises Ltd. | 428,636 | 51,839,238 | ||||||||||
Vail Resorts, Inc. | 250,342 | 57,290,766 | ||||||||||
Insurance—1.1% | ||||||||||||
The Progressive Corp. | 766,887 | 59,932,219 | ||||||||||
Interactive media & services—4.0% | ||||||||||||
IAC/InterActiveCorp* | 323,411 | 72,715,729 | ||||||||||
Twitter, Inc.* | 2,557,256 | 102,060,087 | ||||||||||
Zillow Group, Inc., Class C* | 1,285,280 | 42,928,352 | ||||||||||
Internet & direct marketing retail—1.2% | ||||||||||||
Qurate Retail, Inc., Class A* | 3,898,956 | 66,477,200 | ||||||||||
IT services—5.9% | ||||||||||||
Global Payments, Inc. | 413,714 | 60,431,204 | ||||||||||
Perspecta, Inc. | 2,413,810 | 55,710,735 | ||||||||||
Shopify, Inc., Class A* | 270,508 | 65,876,813 | ||||||||||
Square, Inc., Class A* | 571,786 | 41,637,457 | ||||||||||
WEX, Inc.* | 160,188 | 33,687,536 | ||||||||||
Worldpay, Inc., Class A* | 564,976 | 66,220,837 | ||||||||||
Leisure products—0.9% | ||||||||||||
Brunswick Corp. | 981,210 | 50,247,764 | ||||||||||
Life sciences tools & services—1.9% | ||||||||||||
Illumina, Inc.* | 81,982 | 25,578,384 | ||||||||||
IQVIA Holdings, Inc.* | 357,280 | 49,626,192 | ||||||||||
PRA Health Sciences, Inc.* | 306,545 | 29,679,687 | ||||||||||
Machinery—0.6% | ||||||||||||
Wabtec Corp. | 457,655 | 33,898,506 | ||||||||||
Media—1.2% | ||||||||||||
Sirius XM Holdings, Inc. | 11,221,505 | 65,196,944 | ||||||||||
Multiline retail—1.4% | ||||||||||||
Dollar Tree, Inc.* | 695,483 | 77,393,348 | ||||||||||
Oil, gas & consumable fuels—1.8% | ||||||||||||
Diamondback Energy, Inc. | 557,151 | 59,275,295 | ||||||||||
Parsley Energy, Inc., Class A* | 1,954,217 | 39,006,171 | ||||||||||
Pharmaceuticals—1.2% | ||||||||||||
Zoetis, Inc. | 631,078 | 64,268,984 | ||||||||||
Professional services—2.9% | ||||||||||||
IHS Markit Ltd.* | 1,253,275 | 71,762,526 | ||||||||||
TransUnion | 1,245,049 | 86,717,663 |
COMMON STOCKS—98.2% | Shares | Value | ||||||||||
Road & rail—1.2% | ||||||||||||
Lyft, Inc., Class A* | 435,895 | $26,066,521 | ||||||||||
Old Dominion Freight Line, Inc. | 252,007 | 37,619,605 | ||||||||||
Semiconductors & semiconductor equipment—4.2% | ||||||||||||
Advanced Micro Devices, Inc.* | 2,451,855 | 67,744,754 | ||||||||||
Cree, Inc.* | 522,948 | 34,561,633 | ||||||||||
Maxim Integrated Products, Inc. | 963,671 | 57,820,260 | ||||||||||
Microchip Technology, Inc. | 713,721 | 71,293,591 | ||||||||||
Software—11.4% | ||||||||||||
Autodesk, Inc.* | 377,588 | 67,289,957 | ||||||||||
PTC, Inc.* | 665,909 | 60,244,787 | ||||||||||
RingCentral, Inc., Class A* | 401,967 | 46,776,900 | ||||||||||
ServiceNow, Inc.* | 477,074 | 129,530,362 | ||||||||||
Splunk, Inc.* | 667,089 | 92,084,965 | ||||||||||
Synopsys, Inc.* | 632,558 | 76,590,123 | ||||||||||
Tableau Software, Inc., Class A* | 596,620 | 72,674,282 | ||||||||||
Tyler Technologies, Inc.* | 321,637 | 74,590,837 | ||||||||||
Specialty retail—2.9% | ||||||||||||
AutoZone, Inc.* | 66,340 | 68,218,086 | ||||||||||
Burlington Stores, Inc.* | 521,940 | 88,160,885 | ||||||||||
Textiles, apparel & luxury goods—2.6% | ||||||||||||
Canada Goose Holdings, Inc.* | 841,890 | 44,948,507 | ||||||||||
Lululemon Athletica, Inc.* | 559,508 | 98,669,236 | ||||||||||
Trading companies & distributors—1.4% | ||||||||||||
United Rentals, Inc.* | 302,220 | 42,588,842 | ||||||||||
W.W. Grainger, Inc. | 121,491 | 34,260,462 | ||||||||||
Total common stocks (cost $4,197,882,553) | 5,360,776,922 | |||||||||||
Total investment portfolio (cost $4,197,882,553)—98.2% |
| 5,360,776,922 | ||||||||||
Other assets in excess of liabilities—1.8% | 97,587,750 | |||||||||||
Total net assets—100.0% | $5,458,364,672 |
*Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Information technology | 28.7% | |||
Consumer discretionary | 16.9% | |||
Health care | 14.7% | |||
Industrials | 14.5% | |||
Financials | 7.2% | |||
Communication services | 7.2% | |||
Materials | 2.6% | |||
Consumer staples | 2.3% | |||
Real estate | 2.3% | |||
Energy | 1.8% |
The accompanying notes are an integral part of the financial statements. | 7 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
COMMON STOCKS—98.3% | Shares | Value | ||||||||||
Equity real estate investment trusts (REITs)—1.1% | ||||||||||||
Seritage Growth Properties, Class A | 1,169,447 | $52,145,642 | ||||||||||
Food & staples retailing—1.5% | ||||||||||||
Casey’s General Stores, Inc. | 551,366 | 72,973,290 | ||||||||||
Health care equipment & supplies—6.7% | ||||||||||||
AxoGen, Inc.* | 635,364 | 14,918,347 | ||||||||||
Haemonetics Corp.* | 424,133 | 37,018,328 | ||||||||||
Insulet Corp.* | 265,663 | 22,913,434 | ||||||||||
Merit Medical Systems, Inc.* | 1,048,920 | 58,928,326 | ||||||||||
NuVasive, Inc.* | 371,614 | 22,519,808 | ||||||||||
Penumbra, Inc.* | 197,677 | 26,587,557 | ||||||||||
Quidel Corp.* | 397,803 | 25,435,524 | ||||||||||
Tandem Diabetes Care, Inc.* | 922,735 | 56,665,156 | ||||||||||
West Pharmaceutical Services, Inc. | 235,498 | 29,152,297 | ||||||||||
Wright Medical Group NV* | 756,165 | 22,359,799 | ||||||||||
Health care providers & services—2.2% | ||||||||||||
Amedisys, Inc.* | 131,970 | 16,868,406 | ||||||||||
AMN Healthcare Services, Inc.* | 350,573 | 18,250,830 | ||||||||||
BioTelemetry, Inc.* | 355,718 | 19,351,059 | ||||||||||
Encompass Health Corp. | 348,769 | 22,478,162 | ||||||||||
HealthEquity, Inc.* | 392,041 | 26,560,778 | ||||||||||
Health care technology—3.2% | ||||||||||||
Evolent Health, Inc., Class A* | 1,633,453 | 22,133,288 | ||||||||||
Medidata Solutions, Inc.* | 511,726 | 46,229,327 | ||||||||||
Omnicell, Inc.* | 500,403 | 40,212,385 | ||||||||||
Teladoc Health, Inc.* | 729,515 | 41,494,813 | ||||||||||
Hotels, restaurants & leisure—6.7% | ||||||||||||
Dave & Buster’s Entertainment, Inc. | 803,966 | 45,697,427 | ||||||||||
Everi Holdings, Inc.* | 4,516,662 | 46,476,452 | ||||||||||
Penn National Gaming, Inc.* | 2,403,342 | 52,080,421 | ||||||||||
Planet Fitness, Inc., Class A* | 1,642,903 | 124,367,757 | ||||||||||
Wingstop, Inc. | 628,954 | 47,341,368 | ||||||||||
Household durables—1.2% | ||||||||||||
Universal Electronics, Inc.* | 1,502,697 | 57,177,621 | ||||||||||
Insurance—0.9% | ||||||||||||
Enstar Group Ltd.* | 244,572 | 43,352,833 | ||||||||||
Internet & direct marketing retail—1.1% | ||||||||||||
Etsy, Inc.* | 755,412 | 51,020,526 | ||||||||||
IT services—0.6% | ||||||||||||
EVO Payments, Inc., Class A* | 1,034,062 | 30,721,982 | ||||||||||
Life sciences tools & services—1.6% | ||||||||||||
NeoGenomics, Inc.* | 2,002,651 | 41,715,220 | ||||||||||
PRA Health Sciences, Inc.* | 359,334 | 34,790,718 | ||||||||||
Machinery—7.3% | ||||||||||||
Chart Industries, Inc.* | 1,104,556 | 97,499,158 | ||||||||||
Graco, Inc. | 947,349 | 48,551,636 | ||||||||||
John Bean Technologies Corp. | 684,254 | 75,124,247 | ||||||||||
Kennametal, Inc. | 890,978 | 36,262,805 | ||||||||||
Woodward, Inc. | 777,879 | 84,711,023 | ||||||||||
Multiline retail—1.3% | ||||||||||||
Ollie’s Bargain Outlet Holdings, Inc.* | 625,238 | 59,797,762 | ||||||||||
Oil, Gas & Consumable Fuels—1.4% | ||||||||||||
Viper Energy Partners LP | 1,913,390 | 64,328,172 |
8 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON EAGLE SMALL CAP GROWTH FUND(cont’d) | ||||||||||||
COMMON STOCKS—98.3% | Shares | Value | ||||||||||
Pharmaceuticals—2.1% | ||||||||||||
Cymabay Therapeutics, Inc.* | 2,061,772 | $26,411,299 | ||||||||||
Horizon Pharma PLC* | 1,805,886 | 46,104,270 | ||||||||||
Zogenix, Inc.* | 693,531 | 27,040,774 | ||||||||||
Professional services—0.6% | ||||||||||||
WageWorks, Inc.* | 594,813 | 29,020,926 | ||||||||||
Road & rail—1.3% | ||||||||||||
Landstar System, Inc. | 583,979 | 63,630,352 | ||||||||||
Semiconductors & semiconductor equipment—3.3% | ||||||||||||
Cabot Microelectronics Corp. | 252,552 | 31,884,690 | ||||||||||
Entegris, Inc. | 2,077,267 | 84,877,130 | ||||||||||
Silicon Laboratories, Inc.* | 367,464 | 39,561,174 | ||||||||||
Software—12.6% | ||||||||||||
Alarm.com Holdings, Inc.* | 648,459 | 45,962,774 | ||||||||||
Cornerstone OnDemand, Inc.* | 1,509,541 | 82,496,416 | ||||||||||
Everbridge, Inc.* | 314,669 | 23,250,892 | ||||||||||
Guidewire Software, Inc.* | 636,923 | 67,832,300 | ||||||||||
Pagerduty, Inc.* | 352,000 | 16,508,800 | ||||||||||
Pegasystems, Inc. | 1,065,831 | 79,947,983 | ||||||||||
Proofpoint, Inc.* | 260,387 | 32,657,738 | ||||||||||
PTC, Inc.* | 239,338 | 21,652,909 | ||||||||||
RealPage, Inc.* | 1,508,001 | 98,336,745 | ||||||||||
SailPoint Technologies Holding, Inc.* | 1,373,769 | 38,822,712 | ||||||||||
Tableau Software, Inc., Class A* | 349,879 | 42,618,761 | ||||||||||
The Ultimate Software Group, Inc.* | 126,956 | 41,978,001 | ||||||||||
Specialty retail—4.0% | ||||||||||||
At Home Group, Inc.* | 1,600,488 | 37,595,463 | ||||||||||
Floor & Decor Holdings, Inc., Class A* | 1,190,402 | 57,163,104 | ||||||||||
Genesco, Inc.* | 516,090 | 23,125,993 | ||||||||||
MarineMax, Inc.* | 1,861,655 | 32,188,015 | ||||||||||
National Vision Holdings, Inc.* | 1,500,202 | 40,505,454 | ||||||||||
Textiles, apparel & luxury goods—1.8% | ||||||||||||
Canada Goose Holdings, Inc.* | 489,305 | 26,123,994 | ||||||||||
Steven Madden Ltd. | 1,611,131 | 58,564,612 | ||||||||||
Total common stocks (cost $3,258,336,822) | 4,636,021,957 | |||||||||||
Total investment portfolio (cost $3,258,336,822)—98.3% |
| 4,636,021,957 | ||||||||||
Other assets in excess of liabilities—1.7% | 79,443,867 | |||||||||||
Total net assets—100.0% | $4,715,465,824 |
*Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Health care | 25.6% | |||
Information technology | 22.0% | |||
Industrials | 17.8% | |||
Consumer discretionary | 17.4% | |||
Financials | 5.9% | |||
Materials | 5.0% | |||
Consumer staples | 1.5% | |||
Energy | 1.4% | |||
Real estate | 1.1% | |||
Communication services | 0.6% |
The accompanying notes are an integral part of the financial statements. | 9 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON SCOUT INTERNATIONAL FUND(cont’d) | ||||||||||||
COMMON STOCKS—92.7% | Shares | Value | ||||||||||
Switzerland—9.7% | ||||||||||||
ABB Ltd. | 593,521 | $12,207,968 | ||||||||||
Adecco Group AG | 261,330 | 15,014,194 | ||||||||||
Coca-Cola HBC AG | 230,508 | 8,255,722 | ||||||||||
Givaudan S.A. | 3,663 | 9,484,625 | ||||||||||
Nestle S.A., Sponsored ADR | 111,563 | 10,769,176 | ||||||||||
Novartis AG, Sponsored ADR | 94,290 | 7,753,467 | ||||||||||
Roche Holding AG | 43,815 | 11,561,173 | ||||||||||
Taiwan—2.5% | ||||||||||||
Largan Precision Co. Ltd. | 74,500 | 11,184,130 | ||||||||||
MediaTek, Inc. | 843,930 | 8,088,671 | ||||||||||
Turkey—3.0% | ||||||||||||
Tupras Turkiye Petrol Rafinerileri AS | 377,816 | 7,814,325 | ||||||||||
Turkiye Garanti Bankasi AS* | 11,194,677 | 15,370,273 | ||||||||||
United Kingdom—12.7% | ||||||||||||
British American Tobacco PLC | 301,420 | 11,800,293 | ||||||||||
Compass Group PLC | 528,246 | 12,019,654 | ||||||||||
Diageo PLC, Sponsored ADR | 72,779 | 12,273,451 | ||||||||||
Next PLC | 181,645 | 13,676,744 | ||||||||||
Prudential PLC, Sponsored ADR | 279,470 | 12,757,805 | ||||||||||
Reckitt Benckiser Group PLC | 122,620 | 9,920,762 | ||||||||||
Royal Dutch Shell PLC, Class B, Sponsored ADR | 178,805 | 11,602,656 | ||||||||||
WPP PLC | 1,133,278 | 14,140,835 | ||||||||||
United States—4.7% | ||||||||||||
Aflac, Inc. | 249,204 | 12,554,898 | ||||||||||
Credicorp Ltd. | 45,580 | 10,797,902 | ||||||||||
Mettler-Toledo International, Inc.* | 17,551 | 13,080,058 | ||||||||||
Total common stocks (cost $489,020,558) | 717,845,780 | |||||||||||
PREFERRED STOCKS—5.2% | ||||||||||||
Colombia—1.4% | ||||||||||||
Bancolombia S.A., Sponsored ADR | 209,331 | 10,617,268 | ||||||||||
Germany—3.8% | ||||||||||||
Henkel AG & Co. KGaA, Sponsored ADR | 477,202 | 12,125,703 | ||||||||||
Volkswagen AG | 101,642 | 17,746,976 | ||||||||||
Total preferred stocks (cost $25,339,265) | 40,489,947 | |||||||||||
Total investment portfolio (cost $514,359,823)—97.9% |
| 758,335,727 | ||||||||||
Other assets in excess of liabilities—2.1% | 15,899,740 | |||||||||||
Total net assets—100.0% | $774,235,467 |
ADR—American Depositary Receipt
*Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Financials | 23.9% | |||
Industrials | 14.0% | |||
Consumer staples | 13.8% | |||
Health care | 11.1% | |||
Energy | 8.5% | |||
Information technology | 8.4% |
Sector allocation(cont’d) | ||||
Sector | Percent of net assets | |||
Consumer discretionary | 7.6% | |||
Materials | 6.6% | |||
Communication services | 4.0% |
Industry allocation | ||||||||
Industry | Value | Percent of net assets | ||||||
Banks | $94,745,042 | 12.2% | ||||||
Oil, gas & consumable fuels | 65,661,973 | 8.5% | ||||||
Insurance | 63,588,685 | 8.2% | ||||||
Machinery | 45,827,640 | 5.9% | ||||||
Pharmaceuticals | 41,535,680 | 5.4% | ||||||
Chemicals | 41,075,025 | 5.3% | ||||||
Household products | 33,998,215 | 4.4% | ||||||
Electronic equipment, instruments & components | 24,049,809 | 3.1% | ||||||
Semiconductors & semiconductor equipment | 23,557,248 | 3.0% | ||||||
Food products | 20,832,457 | 2.7% | ||||||
Beverages | 20,529,172 | 2.6% | ||||||
Automobiles | 17,746,976 | 2.3% | ||||||
Software | 17,250,708 | 2.2% | ||||||
Capital markets | 15,575,904 | 2.0% | ||||||
Professional services | 15,014,194 | 1.9% | ||||||
Auto components | 14,979,655 | 1.9% | ||||||
Airlines | 14,930,871 | 1.9% | ||||||
Media | 14,140,835 | 1.8% | ||||||
Multiline retail | 13,676,744 | 1.8% | ||||||
Health care providers & services | 13,114,453 | 1.7% | ||||||
Life sciences tools & services | 13,080,058 | 1.7% | ||||||
Electrical equipment | 12,207,968 | 1.6% | ||||||
Food & staples retailing | 12,207,564 | 1.6% | ||||||
Hotels, restaurants & leisure | 12,019,654 | 1.6% | ||||||
Tobacco | 11,800,293 | 1.5% | ||||||
Diversified financial services | 11,458,614 | 1.5% | ||||||
Biotechnology | 10,695,944 | 1.4% | ||||||
Metals & mining | 10,374,811 | 1.3% | ||||||
Construction & engineering | 10,053,522 | 1.3% | ||||||
Industrial conglomerates | 10,042,087 | 1.3% | ||||||
Diversified telecommunication services | 9,738,273 | 1.3% | ||||||
Personal products | 7,711,402 | 1.0% | ||||||
Health care equipment & supplies | 7,695,955 | 1.0% | ||||||
Wireless telecommunication services | 7,418,296 | 1.0% |
10 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
COMMON STOCKS—98.7% | Shares | Value | ||||||||||
Electronic equipment, instruments & components—4.1% | ||||||||||||
Cognex Corp. | 73,750 | $3,719,212 | ||||||||||
IPG Photonics Corp.* | 78,900 | 13,786,197 | ||||||||||
Keysight Technologies, Inc.* | 627,825 | 54,639,610 | ||||||||||
Zebra Technologies Corp., Class A* | 228,625 | 48,271,883 | ||||||||||
Energy equipment & services—1.0% | ||||||||||||
Apergy Corp.* | 277,300 | 11,006,037 | ||||||||||
Patterson-UTI Energy, Inc. | 1,362,200 | 18,512,298 | ||||||||||
Entertainment—1.4% | ||||||||||||
Live Nation Entertainment, Inc.* | 147,225 | 9,619,682 | ||||||||||
The Madison Square Garden Co., Class A* | 96,844 | 30,257,939 | ||||||||||
Equity real estate investment trusts (REITs)—8.7% | ||||||||||||
AvalonBay Communities, Inc. | 162,675 | 32,686,288 | ||||||||||
Cousins Properties, Inc. | 2,982,890 | 28,546,257 | ||||||||||
EPR Properties | 507,649 | 40,033,200 | ||||||||||
Healthcare Realty Trust, Inc. | 553,200 | 17,082,816 | ||||||||||
Host Hotels & Resorts, Inc. | 2,662,834 | 51,232,926 | ||||||||||
Lamar Advertising Co., Class A | 157,948 | 13,057,561 | ||||||||||
Mid-America Apartment Communities, Inc. | 427,025 | 46,720,805 | ||||||||||
Omega Healthcare Investors, Inc. | 691,073 | 24,457,074 | ||||||||||
Food & staples retailing—0.5% | ||||||||||||
Casey’s General Stores, Inc. | 113,200 | 14,982,020 | ||||||||||
Food products—0.4% | ||||||||||||
Hormel Foods Corp. | 149,950 | 5,989,003 | ||||||||||
Tyson Foods, Inc., Class A | 70,750 | 5,306,958 | ||||||||||
Gas utilities—1.7% | ||||||||||||
Atmos Energy Corp. | 247,649 | 25,344,399 | ||||||||||
ONE Gas, Inc. | 272,606 | 24,131,083 | ||||||||||
Health care equipment & supplies—3.4% | ||||||||||||
ABIOMED, Inc.* | 100,125 | 27,775,676 | ||||||||||
Align Technology, Inc.* | 53,425 | 17,346,029 | ||||||||||
Edwards Lifesciences Corp.* | 83,000 | 14,613,810 | ||||||||||
Masimo Corp.* | 201,450 | 26,218,717 | ||||||||||
Teleflex, Inc. | 47,975 | 13,729,486 | ||||||||||
Health care providers & services—0.5% | ||||||||||||
Centene Corp.* | 186,425 | 9,612,073 | ||||||||||
Molina Healthcare, Inc.* | 44,522 | 5,771,387 | ||||||||||
Hotels, restaurants & leisure—2.4% | ||||||||||||
Darden Restaurants, Inc. | 147,600 | 17,357,760 | ||||||||||
Hilton Grand Vacations, Inc.* | 484,950 | 15,537,798 | ||||||||||
Royal Caribbean Cruises Ltd. | 70,275 | 8,499,059 | ||||||||||
Six Flags Entertainment Corp. | 246,450 | 13,084,030 | ||||||||||
Texas Roadhouse, Inc. | 62,244 | 3,361,798 | ||||||||||
Vail Resorts, Inc. | 50,450 | 11,545,483 | ||||||||||
Household durables—1.7% | ||||||||||||
D.R. Horton, Inc. | 355,775 | 15,764,390 | ||||||||||
Garmin Ltd. | 214,200 | 18,365,508 | ||||||||||
PulteGroup, Inc. | 476,100 | 14,978,106 | ||||||||||
Household products—0.4% | ||||||||||||
The Clorox Co. | 68,050 | 10,869,627 | ||||||||||
Insurance—4.1% | ||||||||||||
Arch Capital Group Ltd.* | 439,875 | 14,858,978 | ||||||||||
Lincoln National Corp. | 599,900 | 40,025,328 | ||||||||||
The Hanover Insurance Group, Inc. | 104,250 | 12,573,592 | ||||||||||
The Hartford Financial Services Group, Inc. | 165,100 | 8,636,381 |
The accompanying notes are an integral part of the financial statements. | 11 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON SCOUT MID CAP FUND(cont’d) | ||||||||||||
COMMON STOCKS—98.7% | Shares | Value | ||||||||||
Insurance (cont’d) | ||||||||||||
W.R. Berkley Corp. | 452,775 | $27,755,107 | ||||||||||
White Mountains Insurance Group Ltd. | 16,650 | 15,635,016 | ||||||||||
Interactive media & services—1.0% | ||||||||||||
IAC/InterActiveCorp* | 87,575 | 19,690,363 | ||||||||||
Match Group, Inc. | 184,500 | 11,143,800 | ||||||||||
Internet & direct marketing retail—1.2% | ||||||||||||
eBay, Inc. | 599,925 | 23,247,094 | ||||||||||
Expedia Group, Inc. | 99,875 | 12,967,770 | ||||||||||
IT services—2.4% | ||||||||||||
DXC Technology Co. | 494,675 | 32,519,934 | ||||||||||
Jack Henry & Associates, Inc. | 99,325 | 14,805,385 | ||||||||||
Paychex, Inc. | 138,775 | 11,700,120 | ||||||||||
Science Applications International Corp. | 142,908 | 10,710,955 | ||||||||||
Leisure products—0.2% | ||||||||||||
Polaris Industries, Inc. | 63,375 | 6,109,350 | ||||||||||
Machinery—2.7% | ||||||||||||
Allison Transmission Holdings, Inc. | 216,550 | 10,147,533 | ||||||||||
Parker-Hannifin Corp. | 75,350 | 13,644,378 | ||||||||||
The Timken Co. | 420,725 | 20,173,764 | ||||||||||
Xylem, Inc. | 402,650 | 33,581,010 | ||||||||||
Marine—0.3% | ||||||||||||
Kirby Corp.* | 126,150 | 10,308,978 | ||||||||||
Metals & mining—1.5% | ||||||||||||
Kirkland Lake Gold Ltd. | 643,350 | 20,793,072 | ||||||||||
Newmont Mining Corp. | 402,050 | 12,487,673 | ||||||||||
Steel Dynamics, Inc. | 352,200 | 11,157,696 | ||||||||||
Mortgage real estate investment trusts (REITs)—2.1% | ||||||||||||
AGNC Investment Corp. | 3,423,375 | 60,901,841 | ||||||||||
Multi-utilities—2.5% | ||||||||||||
CMS Energy Corp. | 435,225 | 24,176,749 | ||||||||||
WEC Energy Group, Inc. | 619,425 | 48,581,503 | ||||||||||
Oil, gas & consumable fuels—3.8% | ||||||||||||
Diamondback Energy, Inc. | 142,875 | 15,200,471 | ||||||||||
Encana Corp. | 3,103,406 | 21,506,604 | ||||||||||
Parsley Energy, Inc., Class A* | 407,873 | 8,141,145 | ||||||||||
PBF Energy, Inc., Class A | 290,875 | 9,767,583 | ||||||||||
Pioneer Natural Resources Co. | 65,002 | 10,820,233 | ||||||||||
Valero Energy Corp. | 417,717 | 37,870,223 | ||||||||||
WPX Energy, Inc.* | 483,300 | 6,713,037 | ||||||||||
Pharmaceuticals—0.7% | ||||||||||||
Jazz Pharmaceuticals PLC* | 61,925 | 8,036,007 | ||||||||||
Supernus Pharmaceuticals, Inc.* | 365,325 | 13,418,388 | ||||||||||
Professional services—0.5% | ||||||||||||
Robert Half International, Inc. | 233,175 | 14,477,836 | ||||||||||
Road & rail—0.5% | ||||||||||||
Norfolk Southern Corp. | 48,800 | 9,956,176 | ||||||||||
Old Dominion Freight Line, Inc. | 36,625 | 5,467,380 | ||||||||||
Semiconductors & semiconductor equipment—4.3% | ||||||||||||
Analog Devices, Inc. | 65,000 | 7,555,600 | ||||||||||
Lam Research Corp. | 123,225 | 25,560,562 | ||||||||||
ON Semiconductor Corp.* | 660,225 | 15,224,788 | ||||||||||
Skyworks Solutions, Inc. | 287,075 | 25,314,273 | ||||||||||
Universal Display Corp. | 51,050 | 8,147,580 | ||||||||||
Xilinx, Inc. | 360,675 | 43,331,495 |
COMMON STOCKS—98.7% | Shares | Value | ||||||||||
Software—8.3% | ||||||||||||
Aspen Technology, Inc.* | 81,400 | $9,923,474 | ||||||||||
Palo Alto Networks, Inc.* | 85,650 | 21,312,290 | ||||||||||
Proofpoint, Inc.* | 252,684 | 31,691,627 | ||||||||||
RealPage, Inc.* | 323,375 | 21,087,284 | ||||||||||
ServiceNow, Inc.* | 252,100 | 68,447,671 | ||||||||||
Splunk, Inc.* | 313,750 | 43,310,050 | ||||||||||
Workday, Inc., Class A* | 221,300 | 45,505,919 | ||||||||||
Specialty retail—4.7% | ||||||||||||
American Eagle Outfitters, Inc. | 814,575 | 19,370,593 | ||||||||||
Best Buy Co., Inc. | 359,575 | 26,755,976 | ||||||||||
Floor & Decor Holdings, Inc., Class A* | 488,925 | 23,478,178 | ||||||||||
Foot Locker, Inc. | 220,950 | 12,640,550 | ||||||||||
O’Reilly Automotive, Inc.* | 55,325 | 20,944,385 | ||||||||||
Tractor Supply Co. | 191,225 | 19,791,788 | ||||||||||
Ulta Beauty, Inc.* | 44,500 | 15,529,610 | ||||||||||
Textiles, apparel & luxury goods—1.1% | ||||||||||||
Lululemon Athletica, Inc.* | 65,700 | 11,586,195 | ||||||||||
Ralph Lauren Corp. | 117,075 | 15,404,729 | ||||||||||
Tapestry, Inc. | 152,475 | 4,920,368 | ||||||||||
Thrifts & mortgage finance—0.4% | ||||||||||||
LendingTree, Inc.* | 29,350 | 11,294,467 | ||||||||||
Trading companies & distributors—2.5% | ||||||||||||
United Rentals, Inc.* | 411,200 | 57,946,304 | ||||||||||
W.W. Grainger, Inc. | 54,016 | 15,232,512 | ||||||||||
Water utilities—0.2% | ||||||||||||
American Water Works Co., Inc. | 49,050 | 5,306,719 | ||||||||||
Wireless telecommunication services—0.7% | ||||||||||||
Sprint Corp.* | 3,908,249 | 21,808,029 | ||||||||||
Total common stocks (cost $2,439,975,983) | 2,881,326,422 | |||||||||||
Total investment portfolio (cost $2,439,975,983)—98.7% |
| 2,881,326,422 | ||||||||||
Other assets in excess of liabilities—1.3% | 37,039,332 | |||||||||||
Total net assets—100.0% | $2,918,365,754 |
*Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Information technology | 22.1% | |||
Financials | 16.3% | |||
Industrials | 13.6% | |||
Consumer discretionary | 12.9% | |||
Real estate | 8.7% | |||
Utilities | 5.6% | |||
Materials | 5.2% | |||
Health care | 5.0% | |||
Energy | 4.8% | |||
Communication services | 3.2% | |||
Consumer staples | 1.3% |
12 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
COMMON STOCKS—99.3% | Shares | Value | ||||||||||
Hotels, restaurants & leisure—4.6% |
| |||||||||||
Cracker Barrel Old Country Store, Inc. | 25,088 | $4,233,349 | ||||||||||
Dave & Buster’s Entertainment, Inc. | 87,350 | 4,964,974 | ||||||||||
Lindblad Expeditions Holdings, Inc.* | 190,680 | 3,090,923 | ||||||||||
The Cheesecake Factory, Inc. | 74,964 | 3,719,714 | ||||||||||
Household durables—3.5% |
| |||||||||||
Installed Building Products, Inc.* | 77,697 | 3,731,787 | ||||||||||
iRobot Corp.* | 40,329 | 4,175,665 | ||||||||||
LGI Homes, Inc.* | 62,455 | 4,328,756 | ||||||||||
Insurance—0.8% |
| |||||||||||
CNO Financial Group, Inc. | 162,907 | 2,696,111 | ||||||||||
Internet & direct marketing retail—1.0% |
| |||||||||||
PetMed Express, Inc. | 79,164 | 1,729,733 | ||||||||||
Stamps.com, Inc.* | 22,375 | 1,919,775 | ||||||||||
IT services—2.3% |
| |||||||||||
Carbonite, Inc.* | 181,190 | 4,444,591 | ||||||||||
Virtusa Corp.* | 66,713 | 3,705,907 | ||||||||||
Life sciences tools & services—5.6% |
| |||||||||||
Bruker Corp. | 171,542 | 6,621,521 | ||||||||||
Cambrex Corp.* | 84,580 | 3,638,632 | ||||||||||
Medpace Holdings, Inc.* | 59,250 | 3,328,072 | ||||||||||
PRA Health Sciences, Inc.* | 59,736 | 5,783,640 | ||||||||||
Machinery—4.6% |
| |||||||||||
Albany International Corp., Class A | 68,680 | 5,080,260 | ||||||||||
Chart Industries, Inc.* | 50,697 | 4,475,024 | ||||||||||
Proto Labs, Inc.* | 60,484 | 6,640,538 | ||||||||||
Metals & mining—0.5% |
| |||||||||||
Carpenter Technology Corp. | 36,359 | 1,805,952 | ||||||||||
Pharmaceuticals—1.7% |
| |||||||||||
Supernus Pharmaceuticals, Inc.* | 158,035 | 5,804,626 | ||||||||||
Professional services—3.7% |
| |||||||||||
Insperity, Inc. | 73,799 | 8,823,408 | ||||||||||
WageWorks, Inc.* | 84,133 | 4,104,849 | ||||||||||
Semiconductors & semiconductor equipment—7.5% |
| |||||||||||
Ambarella, Inc.* | 70,045 | 3,510,655 | ||||||||||
Entegris, Inc. | 110,718 | 4,523,938 | ||||||||||
Impinj, Inc.* | 86,607 | 2,534,987 | ||||||||||
Inphi Corp.* | 68,364 | 3,121,500 | ||||||||||
Power Integrations, Inc. | 56,008 | 4,425,752 | ||||||||||
Semtech Corp.* | 146,871 | 7,911,941 | ||||||||||
Software—9.9% |
| |||||||||||
Envestnet, Inc.* | 84,653 | 6,009,516 | ||||||||||
j2 Global, Inc. | 77,101 | 6,755,590 | ||||||||||
Pegasystems, Inc. | 93,638 | 7,023,786 | ||||||||||
The Descartes Systems Group, Inc.* | 118,866 | 4,752,263 | ||||||||||
The Trade Desk, Inc., Class A* | 30,412 | 6,735,650 | ||||||||||
Verint Systems, Inc.* | 56,100 | 3,387,879 | ||||||||||
Specialty retail—2.4% |
| |||||||||||
Monro, Inc. | 101,571 | 8,514,697 | ||||||||||
Technology hardware, storage & peripherals—0.9% |
| |||||||||||
Electronics For Imaging, Inc.* | 82,211 | 3,057,427 | ||||||||||
Textiles, apparel & luxury goods—1.2% |
| |||||||||||
G-III Apparel Group Ltd.* | 98,851 | 4,265,421 |
The accompanying notes are an integral part of the financial statements. | 13 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON SCOUT SMALL CAP FUND(cont’d) | ||||||||||||
COMMON STOCKS—99.3% | Shares | Value | ||||||||||
Thrifts & mortgage finance—3.4% |
| |||||||||||
Axos Financial, Inc.* | 124,794 | $4,083,260 | ||||||||||
LendingTree, Inc.* | 20,038 | 7,711,023 | ||||||||||
Trading companies & distributors—0.9% |
| |||||||||||
Systemax, Inc. | 133,200 | 3,024,972 | ||||||||||
Total common stocks (cost $212,079,584) |
| 346,547,023 | ||||||||||
Total investment portfolio (cost $212,079,584)—99.3% |
| 346,547,023 | ||||||||||
Other assets in excess of liabilities—0.7% |
| 2,304,217 | ||||||||||
Total net assets—100.0% |
| $348,851,240 |
*Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Health care | 26.8% | |||
Information technology | 25.8% | |||
Industrials | 15.5% | |||
Consumer discretionary | 15.1% | |||
Financials | 9.6% | |||
Materials | 2.1% | |||
Consumer staples | 1.8% | |||
Real estate | 1.7% | |||
Energy | 0.9% |
CORPORATE BONDS—21.2% | Principal Amount | Value | ||||||||||
Banks (cont’d) | ||||||||||||
Citibank NA, 3.40%, 07/23/21 | $895,000 | $908,156 | ||||||||||
JPMorgan Chase & Co., | ||||||||||||
2.55%, 03/01/21 | 540,000 | 538,561 | ||||||||||
2.75%, 06/23/20 | 320,000 | 320,262 | ||||||||||
(3 Month LIBOR USD + 0.55%), 3.15%, 03/09/21 | 1,880,000 | 1,884,017 | ||||||||||
UBS AG, 144A, 2.45%, 12/01/20 | 415,000 | 412,773 | ||||||||||
U.S. Bank NA, 3.15%, 04/26/21 | 1,130,000 | 1,141,252 | ||||||||||
Wells Fargo & Co., | ||||||||||||
2.60%, 07/22/20 | 795,000 | 793,720 | ||||||||||
3.75%, 01/24/24 | 380,000 | 391,441 | ||||||||||
(3 Month LIBOR USD + 1.23%), 3.81%, 10/31/23 | 1,475,000 | 1,503,747 | ||||||||||
Chemicals—0.3% | ||||||||||||
The Sherwin-Williams Co., 2.25%, 05/15/20 | 315,000 | 313,302 | ||||||||||
Consumer finance—1.2% | ||||||||||||
American Express Co., 2.20%, 10/30/20 | 665,000 | 659,987 | ||||||||||
American Express Credit Corp., 2.60%, 09/14/20 | 540,000 | 539,284 | ||||||||||
Diversified telecommunication services—0.5% | ||||||||||||
AT&T, Inc., | ||||||||||||
3.80%, 03/01/24 | 280,000 | 288,787 | ||||||||||
4.25%, 03/01/27 | 245,000 | 253,780 | ||||||||||
Food products—0.1% | ||||||||||||
Campbell Soup Co. (3 Month LIBOR USD + 0.63%), | 90,000 | 89,646 | ||||||||||
Health care providers & services—1.8% | ||||||||||||
Cigna Corp., 144A, 3.20%, 09/17/20 | 1,420,000 | 1,424,787 | ||||||||||
CVS Health Corp., 3.70%, 03/09/23 | 460,000 | 466,229 | ||||||||||
Insurance—1.7% | ||||||||||||
American International Group, Inc., 6.40%, 12/15/20 | 535,000 | 564,491 | ||||||||||
MassMutual Global Funding II, 144A, 1.95%, 09/22/20 | 875,000 | 867,402 | ||||||||||
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20 | 385,000 | 383,852 | ||||||||||
Transportation—1.5% | ||||||||||||
Burlington Northern and Santa Fe Railway Co., Pass Through Trust, | ||||||||||||
Series2001-2, 6.46%, 01/15/21 | 58,863 | 60,182 | ||||||||||
Series2004-1, 4.58%, 01/15/21 | 109,839 | 111,518 | ||||||||||
CSX Transportation, Inc., 6.25%, 01/15/23 | 226,287 | 244,842 | ||||||||||
Union Pacific Railroad Co., Pass Through Trust, | ||||||||||||
Series 2004, 5.40%, 07/02/25 | 224,252 | 235,327 | ||||||||||
Series 2005, 5.08%, 01/02/29 | 475,204 | 508,295 | ||||||||||
Series 2006, 5.87%, 07/02/30 | 401,855 | 446,292 | ||||||||||
Total corporate bonds (cost $21,957,027) | 22,170,712 | |||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—37.9% |
| |||||||||||
Asset-backed securities—1.2% | ||||||||||||
Hertz Vehicle Financing II LP, | ||||||||||||
Series2016-4A, Class A, 144A, 2.65%, 07/25/22 | 670,000 | 661,916 | ||||||||||
Series2019-1A, Class A, 144A, 3.71%, 03/25/23 | 635,000 | 643,336 | ||||||||||
Commercial mortgage-backed securities—6.8% | ||||||||||||
CFCRE Commercial Mortgage Trust, | ||||||||||||
Series2011-C2, Class A4, 3.83%, 12/17/47 | 1,785,000 | 1,817,236 | ||||||||||
Series2016-C3, Class A3, 3.87%, 01/10/48 | 800,000 | 829,048 | ||||||||||
COMM Mortgage Trust, | ||||||||||||
Series 2013-CCRE9, Class ASB, 3.83%, 07/12/45 | 543,877 | 555,595 | ||||||||||
Series 2013-CCRE11, Class ASB, 3.66%, 08/12/50 | 752,879 | 767,388 |
14 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON REAMS CORE BOND FUND(cont’d) | ||||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—37.9% | Principal Amount | Value | ||||||||||
Commercial mortgage-backed securities (cont’d) | ||||||||||||
GS Mortgage Securities Trust, | ||||||||||||
Series 2012-GCJ7, Class A4, 3.38%, 05/12/45 | $803,697 | $812,090 | ||||||||||
Series 2013-GCJ14, Class AAB, 3.82%, 08/10/46 | 307,248 | 313,906 | ||||||||||
JP Morgan Chase Commercial Mortgage Securities Trust, | 745,000 | 755,896 | ||||||||||
Morgan Stanley Bank of America Merrill Lynch Trust, | 955,000 | 964,482 | ||||||||||
WFRBS Commercial Mortgage Trust, | 295,000 | 296,584 | ||||||||||
Federal agency mortgage-backed obligations—29.9% |
| |||||||||||
Fannie Mae Pool, | ||||||||||||
Series 0913, Class AE, 4.15%, 09/01/20 | 950,303 | 963,401 | ||||||||||
Series 1313, Class MA, 2.00%, 01/01/23 | 217,511 | 216,207 | ||||||||||
Series 1614, Class AN, 2.47%, 06/01/26 | 2,785,000 | 2,739,502 | ||||||||||
Series 1671, Class AM, 2.10%, 12/01/27 | 923,076 | 892,231 | ||||||||||
Series 2793, Class AL, 4.54%, 01/01/21 | 884,807 | 900,078 | ||||||||||
Series 2822, Class AB, 2.50%, 03/01/26 | 201,904 | 200,931 | ||||||||||
Series 5796, Class AN, 3.03%, 06/01/27 | 355,000 | 352,461 | ||||||||||
Series 6090, Class AB, 2.50%, 09/01/22 | 217,852 | 216,023 | ||||||||||
Series 8744, Class AB, 2.00%, 03/01/23 | 93,330 | 92,766 | ||||||||||
Series 8874, Class AB, 2.00%, 04/01/23 | 93,465 | 92,901 | ||||||||||
Series 9180, Class AB, 2.00%, 05/01/23 | 284,222 | 282,507 | ||||||||||
Series 9550, Class AL, 2.50%, 07/01/25 | 291,606 | 289,141 | ||||||||||
Series 387770, 3.63%, 07/01/28 | 455,000 | 468,316 | ||||||||||
Series 465468, 3.33%, 07/01/20 | 193,432 | 193,924 | ||||||||||
TBA, 3.00%, 06/15/49 | 4,915,000 | 4,853,274 | ||||||||||
TBA, 3.50%, 06/15/49 | 4,865,000 | 4,905,900 | ||||||||||
TBA, 4.50%, 06/15/49 | 5,140,000 | 5,344,741 | ||||||||||
TBA, 5.00%, 06/15/49 | 1,025,000 | 1,079,513 | ||||||||||
FannieMae-Aces, | ||||||||||||
Series2014-M13, Class AB2, VR, 2.95%, 08/25/24 | 45,231 | 46,362 | ||||||||||
Series2016-M2, Class ABV2, 2.13%, 01/25/23 | 132,575 | 131,012 | ||||||||||
Series2016-M3, Class ASQ2, 2.26%, 02/25/23 | 958,947 | 945,906 | ||||||||||
Series2016-M6, Class AB2, 2.40%, 05/25/26 | 976,142 | 960,723 | ||||||||||
Series2016-M7, Class AV2, 2.16%, 10/25/23 | 2,495,000 | 2,458,798 | ||||||||||
Freddie Mac Gold Pool, | ||||||||||||
Series 14660, Class G, 2.00%, 01/01/28 | 926,574 | 908,400 | ||||||||||
Series 15226, Class G, 4.50%, 08/01/20 | 209 | 213 | ||||||||||
Freddie Mac REMIC, | 3,557 | 3,558 | ||||||||||
Ginnie Mae I Pool, | ||||||||||||
Series 0091, Class AD, 2.73%, 06/15/32 | 1,313,080 | 1,255,788 | ||||||||||
Series 2583, Class AB, 2.14%, 08/15/23 | 535,583 | 520,857 | ||||||||||
Total mortgage and asset-backed securities (cost $39,782,828) |
| 39,732,911 | ||||||||||
U.S. TREASURIES—45.4% | ||||||||||||
U.S. Treasury Bonds, | ||||||||||||
2.75%, 08/15/47 | 4,060,000 | 3,913,935 | ||||||||||
3.00%, 08/15/48 | 4,535,000 | 4,590,271 | ||||||||||
U.S. Treasury Notes, | ||||||||||||
2.25%, 11/15/27 | 11,510,000 | 11,315,769 | ||||||||||
2.50%, 01/31/24 | 3,965,000 | 4,002,482 | ||||||||||
2.50%, 01/31/25 | 6,045,000 | 6,100,491 | ||||||||||
2.63%, 12/31/25 | 2,980,000 | 3,023,652 | ||||||||||
2.63%, 02/15/29 | 9,305,000 | 9,400,958 | ||||||||||
2.88%, 04/30/25 | 5,020,000 | 5,167,462 | ||||||||||
Total U.S. Treasuries (cost $46,670,676) | 47,515,020 | |||||||||||
Total investment portfolio (cost $108,410,531)—104.5% |
| 109,418,643 | ||||||||||
Liabilities in excess of other assets—(4.5)% | (4,729,783 | ) | ||||||||||
Total net assets—100.0% | $104,688,860 |
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 as of the date of this report.
REMIC—Real estate mortgage investment conduit
Credit quality breakdown* | ||||
Rating | Percent of net assets | |||
AAA/Aaa | 83.4% | |||
AA/Aa | 7.0% | |||
A/A | 11.3% | |||
BBB/Baa | 2.8% | |||
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/Aaa for credit quality purposes.
The accompanying notes are an integral part of the financial statements. | 15 |
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Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON REAMS CORE BOND FUND(cont’d) | ||||||||||||||||||||||||||||||||||||
SWAP CONTRACTS—CREDIT DEFAULT SWAPS | ||||||||||||||||||||||||||||||||||||
Exchange | Reference Entity | Rating of Reference Entity (Moody’s/S&P) | Buy/Sell(a) Protection | Pay/Receive Fixed Rate | Fixed Rate | Expiration Date | Notional Value(b) | Value(c) | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||
Intercontinental Exchange | CDX North America Investment Grade Index Series 31 | Baa2/BBB | Sell | Receive | 1%/Quarterly | 12/20/2023 | $10,610,000 | $241,502 | $44,209 | $197,293 | ||||||||||||||||||||||||||
Total swap contracts | $10,610,000 | $241,502 | $44,209 | $197,293 |
There is $746 of variation margin due from the broker to the Fund as of April 30, 2019.
(a) 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.
(b) 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.
(c) 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.
16 | The accompanying notes are an integral part of the financial statements. |
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(UNAUDITED) | 04.30.2019 |
CORPORATE BONDS—22.3% | Principal Amount | Value | ||||||||||
Insurance (cont’d) |
| |||||||||||
MassMutual Global Funding II, 144A, 1.95%, 09/22/20 | $5,920,000 | $5,868,595 | ||||||||||
Metropolitan Life Global Funding I (3 Month LIBOR USD + 0.23%), 144A, 2.82%, 01/08/21 | 7,515,000 | 7,508,142 | ||||||||||
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20 | 2,050,000 | 2,043,886 | ||||||||||
Oil, gas & consumable fuels—0.4% |
| |||||||||||
Energy Transfer Operating LP, 4.05%, 03/15/25 | 2,205,000 | 2,239,579 | ||||||||||
Tobacco—0.6% |
| |||||||||||
Philip Morris International, Inc., 2.00%, 02/21/20 | 4,130,000 | 4,107,441 | ||||||||||
Transportation—0.1% |
| |||||||||||
Burlington Northern and Santa Fe Railway Co., Pass Through Trust, | ||||||||||||
Series2001-2, 6.46%, 01/15/21 | 183,435 | 187,545 | ||||||||||
Series2005-4, 4.97%, 04/01/23 | 260,045 | 269,060 | ||||||||||
Total corporate bonds (cost $138,332,103) |
| 139,910,100 | ||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—31.8% |
| |||||||||||
Asset-backed securities—1.3% |
| |||||||||||
Hertz Vehicle Financing II LP, | ||||||||||||
Series2016-4A, Class A, 144A, 2.65%, 07/25/22 | 3,245,000 | 3,205,847 | ||||||||||
Series2019-1A, Class A, 144A, 3.71%, 03/25/23 | 3,855,000 | 3,905,610 | ||||||||||
Home Equity Loan Trust, Series 2006-HSA2, Class AI3, VR, 5.55%, 11/25/27 | 330,436 | 161,593 | ||||||||||
RFMSII Trust, Series 2006-HSA1, Class A4, SB, 5.99%, 02/25/36 | 658,539 | 645,943 | ||||||||||
Commercial mortgage-backed securities—3.1% |
| |||||||||||
CFCRE Commercial Mortgage Trust, Series2016-C3, Class A3, 3.87%, 01/10/48 | 5,600,000 | 5,803,338 | ||||||||||
COMM Mortgage Trust, Series2013-CCRE9, Class ASB, 3.83%, 07/12/45 | 3,453,190 | 3,527,586 | ||||||||||
GS Mortgage Securities Trust, | ||||||||||||
Series 2012-GCJ7, Class A4, 3.38%, 05/12/45 | 4,268,053 | 4,312,623 | ||||||||||
Series 2013-GCJ14, Class AAB, 3.82%, 08/10/46 | 1,934,365 | 1,976,283 | ||||||||||
Morgan Stanley Bank of America Merrill Lynch Trust,Series 2015-C26, Class A3, 3.21%, 10/19/48 | 4,075,000 | 4,115,459 | ||||||||||
Federal agency mortgage-backed obligations—27.4% |
| |||||||||||
Fannie Mae Pool, | ||||||||||||
Series 0913, Class AE, 4.15%, 09/01/20 | 6,802,167 | 6,895,924 | ||||||||||
Series 1313, Class MA, 2.00%, 01/01/23 | 947,072 | 941,393 | ||||||||||
Series 1500, Class MA, 2.00%, 07/01/23 | 869,096 | 859,076 | ||||||||||
Series 1614, Class AN, 2.47%, 06/01/26 | 4,500,000 | 4,426,485 | ||||||||||
Series 1671, Class AM, 2.10%, 12/01/27 | 1,788,460 | 1,728,697 | ||||||||||
Series 2182, Class AM, 2.16%, 01/01/23 | 6,474,178 | 6,399,485 | ||||||||||
Series 2793, Class AL, 4.54%, 01/01/21 | 6,329,770 | 6,439,018 | ||||||||||
Series 2822, Class AB, 2.50%, 03/01/26 | 421,043 | 419,015 | ||||||||||
Series 5796, Class AN, 3.03%, 06/01/27 | 2,045,000 | 2,030,373 | ||||||||||
Series 6090, Class AB, 2.50%, 09/01/22 | 1,039,640 | 1,030,911 | ||||||||||
Series 8744, Class AB, 2.00%, 03/01/23 | 409,983 | 407,509 | ||||||||||
Series 8874, Class AB, 2.00%, 04/01/23 | 410,386 | 407,912 | ||||||||||
Series 9180, Class AB, 2.00%, 05/01/23 | 1,328,238 | 1,320,222 | ||||||||||
Series 9550, Class AL, 2.50%, 07/01/25 | 1,378,714 | 1,367,056 | ||||||||||
Series 387770, 3.63%, 07/01/28 | 2,495,000 | 2,568,015 | ||||||||||
Series 465468, 3.33%, 07/01/20 | 412,194 | 413,243 | ||||||||||
Series 466284, 3.33%, 10/01/20 | 3,197,782 | 3,227,479 | ||||||||||
Series 466319, 3.23%, 11/01/20 | 3,099,657 | 3,126,452 | ||||||||||
TBA, 3.00%, 06/15/49 | 29,810,000 | 29,435,624 | ||||||||||
TBA, 3.50%, 06/15/49 | 28,080,000 | 28,316,072 |
The accompanying notes are an integral part of the financial statements. | 17 |
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Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON REAMS CORE PLUS BOND FUND(cont’d) | ||||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—31.8% | Principal Amount | Value | ||||||||||
Federal agency mortgage-backed obligations (cont’d) |
| |||||||||||
Fannie Mae Pool, (cont’d) | ||||||||||||
TBA, 4.50%, 06/15/49 | $30,840,000 | $32,068,445 | ||||||||||
TBA, 5.00%, 06/15/49 | 6,455,000 | 6,798,300 | ||||||||||
FannieMae-Aces, | ||||||||||||
Series2014-M13, Class AB2, VR, 2.95%, 08/25/24 | 223,642 | 229,234 | ||||||||||
Series2016-M2, Class ABV2, 2.13%, 01/25/23 | 518,914 | 512,797 | ||||||||||
Series2016-M3, Class ASQ2, 2.26%, 02/25/23 | 3,680,402 | 3,630,353 | ||||||||||
Series2016-M6, Class AB2, 2.40%, 05/25/26 | 4,521,336 | 4,449,915 | ||||||||||
Series2016-M7, Class AV2, 2.16%, 10/25/23 | 9,610,000 | 9,470,561 | ||||||||||
Freddie Mac Gold Pool, | ||||||||||||
Series 14660, Class G, 2.00%, 01/01/28 | 4,955,951 | 4,858,747 | ||||||||||
Series 15226, Class G, 4.50%, 08/01/20 | 921 | 940 | ||||||||||
Freddie Mac REMIC, Series 3609, Class LA, 4.00%, 12/15/24 | 16,808 | 16,811 | ||||||||||
Ginnie Mae I Pool, | ||||||||||||
Series 0091, Class AD, 2.73%, 06/15/32 | 7,216,331 | 6,901,465 | ||||||||||
Series 2583, Class AB, 2.14%, 08/15/23 | 1,386,470 | 1,348,347 | ||||||||||
Total mortgage and asset-backed securities (cost $199,787,016) |
| 199,700,158 | ||||||||||
U.S. TREASURIES—52.5% |
| |||||||||||
U.S. Treasury Bonds, |
| |||||||||||
2.75%, 08/15/47 | 23,665,000 | 22,813,614 | ||||||||||
3.00%, 08/15/48 | 27,860,000 | 28,199,544 | ||||||||||
U.S. Treasury Notes, |
| |||||||||||
1.63%, 10/31/23 | 16,775,000 | 16,309,756 | ||||||||||
2.25%, 11/15/27 | 66,805,000 | 65,677,666 | ||||||||||
2.50%, 12/31/20 | 3,575,000 | 3,586,312 | ||||||||||
2.50%, 01/31/24 | 35,755,000 | 36,092,996 | ||||||||||
2.50%, 01/31/25 | 35,725,000 | 36,052,944 | ||||||||||
2.63%, 12/31/25 | 30,290,000 | 30,733,701 | ||||||||||
2.63%, 02/15/29 | 59,240,000 | 59,850,913 | ||||||||||
2.88%, 04/30/25 | 30,025,000 | 30,906,984 | ||||||||||
Total U.S. Treasuries (cost $324,853,184) |
| 330,224,430 | ||||||||||
Total investment portfolio (cost $662,972,303)—106.6% |
| 669,834,688 | ||||||||||
Liabilities in excess of other assets—(6.6)% | (41,530,013 | ) | ||||||||||
Total net assets—100.0% | $628,304,675 |
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 as of the date of this report.
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 the date of this report.
REMIC—Real estate mortgage investment conduit
Credit quality breakdown* | ||||
Rating | Percent of net assets | |||
AAA/Aaa | 84.3% | |||
AA/Aa | 8.3% | |||
A/A | 10.7% | |||
BBB/Baa | 3.2% | |||
BB/Ba | 0.0% | |||
Caa/CCC | 0.0% | |||
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/Aaa for credit quality purposes.
18 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
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, 2019 | Unrealized Appreciation (Depreciation) | |||||||||||||
10-Year U.S. Treasury Note | 6/19/2019 | 1,876 | $230,122,223 | $232,008,438 | $1,886,215 | |||||||||||||
FUTURES CONTRACTS—SHORT | ||||||||||||||||||
Description | Expiration Date | Number of Contracts | Notional Value at Trade Date | Notional Value at April 30, 2019 | Unrealized Appreciation (Depreciation) | |||||||||||||
Euro-Bond Futures^ | 6/6/2019 | (738 | ) | $(134,929,226 | ) | $(136,834,362 | ) | $(1,905,136 | ) | |||||||||
Total futures contracts | $(18,921) |
^ Euro-Bond futures contracts are denominated in Euro. Notional Value at Trade Date, Notional Value at April 30, 2019 and Unrealized Appreciation (Depreciation) have been translated into U.S. Dollars as of April 30, 2019.
There is $784,567 of variation margin due from the broker to the Fund as of April 30, 2019.
SWAP CONTRACTS—CREDIT DEFAULT SWAPS | ||||||||||||||||||||||||||||||||||||
Exchange | Reference Entity | Rating of Reference Entity (Moody’s/S&P) | Buy/Sell(a) Protection | Pay/Receive Fixed Rate | Fixed Rate | Expiration Date | Notional Value(b) | Value(c) | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||
Intercontinental Exchange | CDX North America High Yield Index Series 32 | B2/B | Sell | Receive | 5%/Quarterly | 6/20/2024 | $12,280,000 | $968,756 | $884,418 | $84,338 | ||||||||||||||||||||||||||
Intercontinental Exchange | CDX North American Investment Grade Index Series 31 | Baa2/BBB | Sell | Receive | 1%/Quarterly | 12/20/2023 | 48,680,000 | 1,108,038 | 201,157 | 906,881 | ||||||||||||||||||||||||||
Total swap contracts | $60,960,000 | $2,076,794 | $1,085,575 | $991,219 |
There is $44,417 of variation margin due from the broker to the Fund as of April 30, 2019.
(a) 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.
(b) 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.
(c) 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. | 19 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CORPORATE BONDS—21.2% | Principal Amount | Value | ||||||||||
Oil, gas & consumable fuels—0.6% | ||||||||||||
Energy Transfer Operating LP, 4.05%, 03/15/25 | $6,392,000 | $6,492,240 | ||||||||||
Total corporate bonds (cost $244,874,401) | 247,755,838 | |||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—18.2% |
| |||||||||||
Asset-backed securities—2.1% | ||||||||||||
Avis Budget Rental Car Funding AESOP LLC,Series 2019-1A, Class A, 144A, 3.45%, 03/20/23 | 5,520,000 | 5,587,663 | ||||||||||
Countrywide Asset-Backed Certificates,Series 2006-S10, Class A3 (1 Month LIBOR USD + 0.32%), 2.80%, 10/25/36 | 1,158,896 | 1,111,758 | ||||||||||
Hertz Vehicle Financing II LP, | ||||||||||||
Series2016-2A, Class A, 144A, 2.95%, 03/25/22 | 6,315,000 | 6,288,203 | ||||||||||
Series2016-4A, Class A, 144A, 2.65%, 07/25/22 | 3,530,000 | 3,487,409 | ||||||||||
Series2019-1A, Class A, 144A, 3.71%, 03/25/23 | 6,655,000 | 6,742,369 | ||||||||||
Home Equity Loan Trust, Series 2006-HSA2, Class AI3, VR, 5.55%, 11/25/27 | 3,339,966 | 1,633,342 | ||||||||||
Commercial mortgage-backed securities—7.3% | ||||||||||||
Citigroup Commercial Mortgage Trust,Series 2018-B2, Class A1, 2.86%, 03/10/51 | 2,593,556 | 2,602,512 | ||||||||||
COMM Mortgage Trust, | ||||||||||||
Series2012-CCRE4, Class ASB, 2.44%, 10/17/45 | 7,200,583 | 7,156,990 | ||||||||||
Series 2013-CCRE10, Class ASB, 3.80%, 08/10/46 | 1,625,873 | 1,663,125 | ||||||||||
GS Mortgage Securities Trust, | ||||||||||||
Series 2013-GCJ14, Class AAB, 3.82%, 08/10/46 | 4,111,066 | 4,200,155 | ||||||||||
Series 2014-GC22, Class A3, 3.52%, 06/12/47 | 14,456,635 | 14,692,819 | ||||||||||
JP Morgan Chase Commercial Mortgage Securities Trust,Series 2012-LC9, Class ASB, 2.44%, 12/17/47 | 9,516,607 | 9,470,664 | ||||||||||
UBS Commercial Mortgage Trust,Series 2018-C11, Class A1, 3.21%, 06/16/51 | 4,418,734 | 4,461,520 | ||||||||||
Wells Fargo Commercial Mortgage Trust,Series 2013-LC12, Class ASB, VR, 3.93%, 07/17/46 | 9,705,579 | 9,986,362 | ||||||||||
WFRBS Commercial Mortgage Trust, | ||||||||||||
Series2012-C10, Class ASB, 2.45%, 12/15/45 | 4,911,166 | 4,884,596 | ||||||||||
Series2013-C13, Class A3, 2.75%, 05/17/45 | 5,293,726 | 5,290,456 | ||||||||||
Series2013-C15, Class ASB, 3.72%, 08/17/46 | 3,685,510 | 3,752,299 | ||||||||||
Series2013-C18, Class A3, 3.65%, 12/17/46 | 7,315,000 | 7,386,822 | ||||||||||
Series2014-C21, Class A3, 3.43%, 08/16/47 | 9,870,000 | 9,922,992 | ||||||||||
Federal agency mortgage-backed obligations—8.8% |
| |||||||||||
Fannie Mae Pool, | ||||||||||||
Series 3961, Class AN, 3.16%, 12/01/31 | 3,579,271 | 3,543,703 | ||||||||||
Series 5796, Class AN, 3.03%, 06/01/27 | 4,095,000 | 4,065,710 | ||||||||||
Series 387770, 3.63%, 07/01/28 | 4,760,000 | 4,899,300 | ||||||||||
TBA, 3.00%, 06/15/49 | 18,035,000 | 17,808,503 | ||||||||||
TBA, 4.50%, 06/15/49 | 57,820,000 | 60,123,136 | ||||||||||
TBA, 5.00%, 06/15/49 | 11,565,000 | 12,180,068 | ||||||||||
Total mortgage and asset-backed securities (cost $212,533,477) | 212,942,476 | |||||||||||
U.S. TREASURIES—56.5% | ||||||||||||
U.S. Treasury Bonds, 3.00%, 02/15/49 | 13,955,000 | 14,137,614 | ||||||||||
U.S. Treasury Notes | ||||||||||||
2.00%, 12/31/21 | 82,640,000 | 82,152,553 | ||||||||||
2.25%, 08/15/27 | 48,025,000 | 47,274,609 | ||||||||||
2.25%, 11/15/27 | 62,505,000 | 61,450,228 | ||||||||||
2.63%, 12/15/21 | 105,715,000 | 106,751,503 |
20 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON REAMS UNCONSTRAINED BOND FUND(cont’d) | ||||||||||||
U.S. TREASURIES—56.5% | Principal Amount | Value | ||||||||||
U.S. Treasury Notes (cont’d) | ||||||||||||
2.63%, 01/31/26 | $160,590,000 | $162,860,842 | ||||||||||
2.63%, 02/15/29 | 117,950,000 | 119,166,360 | ||||||||||
2.75%, 02/28/25 | 63,845,000 | 65,279,019 | ||||||||||
Total U.S. Treasuries (cost $653,027,016) | 659,072,728 | |||||||||||
Total investment portfolio (cost $1,110,434,894)—95.9% |
| 1,119,771,042 | ||||||||||
Other assets in excess of liabilities—4.1% | 47,924,198 | |||||||||||
Total net assets—100.0% | $1,167,695,240 |
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.
VR—Variable rate security. Interest rate adjusts periodically based on changes in current interest rates. Rate shown is the rate in effect as of the date of this report.
TBA—To-be-announced security. Securities are being used in dollar roll transactions.
Credit quality breakdown* | ||||
Rating | Percent of net assets | |||
AAA/Aaa | 74.4% | |||
AA/Aa | 3.4% | |||
A/A | 12.2% | |||
BBB/Baa | 5.7% | |||
BB/Ba | 0.0% | |||
Caa/CCC | 0.1% | |||
Ca/CC | 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/Aaa for credit quality purposes.
FUTURES CONTRACTS—LONG | ||||||||||||||||||
Description | Expiration Date | Number of Contracts | Notional Value at Trade Date | Notional Value at April 30, 2019 | Unrealized Appreciation (Depreciation) | |||||||||||||
5-Year U.S. Treasury Note | 6/28/2019 | 2,745 | $314,665,492 | $317,433,516 | $2,768,024 | |||||||||||||
10-Year U.S. Treasury Note | 6/19/2019 | 1,338 | 163,970,689 | 165,472,969 | 1,502,280 | |||||||||||||
FUTURES CONTRACTS—SHORT | ||||||||||||||||||
Description | Expiration Date | Number of Contracts | Notional Value at Trade Date | Notional Value at April 30, 2019 | Unrealized Appreciation (Depreciation) | |||||||||||||
Euro-Bond Futures^ | 6/6/2019 | (2,405 | ) | $(439,655,245 | ) | $(445,916,855 | ) | $(6,261,610 | ) | |||||||||
Total futures contracts | $(1,991,306) |
^ Euro-Bond futures contracts are denominated in Euro. Notional Value at Trade Date, Notional Value at April 30, 2019 and Unrealized Appreciation (Depreciation) have been translated into U.S. Dollars as of April 30, 2019.
There is $1,319,430 of variation margin due to the Fund from the broker as of April 30, 2019.
The accompanying notes are an integral part of the financial statements. | 21 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2019 |
CARILLON REAMS UNCONSTRAINED BOND FUND(cont’d) |
SWAP CONTRACTS—CREDIT DEFAULT SWAPS | ||||||||||||||||||||||||||||||||||||
Exchange | Reference Entity | Rating of Reference Entity (Moody’s/S&P) | Buy/Sell(a) Protection | Pay/Receive Fixed Rate | Fixed Rate | Expiration Date | Notional Value(b) | Value(c) | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||
Intercontinental Exchange | CDX North America High Yield Index Series 32 | B2/B | Sell | Receive | 5%/Quarterly | 6/20/2024 | $27,250,000 | $2,149,722 | $1,962,571 | $187,151 | ||||||||||||||||||||||||||
Intercontinental Exchange | CDX North America Investment Grade Index Series 31 | Baa2/BBB | Sell | Receive | 1%/Quarterly | 12/20/2023 | 73,895,000 | 1,681,973 | 343,515 | 1,338,458 | ||||||||||||||||||||||||||
Total swap contracts | $101,145,000 | $3,831,695 | $2,306,086 | $1,525,609 |
There is $24,792 of variation margin due to the Fund from the broker as of April 30, 2019.
(a) 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.
(b) 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.
(c) 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.
22 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Statements of Assets and Liabilities
(UNAUDITED) | 04.30.2019 |
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) | $546,277,499 | $13,540,373 | $19,708,248 | $769,568,627 | ||||||||||||
Cash | 4,600,648 | 654 | 395,573 | 44,483,736 | ||||||||||||
Foreign currency, at value (b) | — | 232 | — | — | ||||||||||||
Receivable for investments sold | — | — | — | 2,649,070 | ||||||||||||
Receivable for fund shares sold | 861,999 | 3,843 | 600 | 1,928,319 | ||||||||||||
Receivable for dividends and interest, net | 219,240 | 144,235 | 737 | 944,223 | ||||||||||||
Receivable due from adviser, net | — | 22,686 | 16,556 | — | ||||||||||||
Prepaid expenses | 23,640 | 37,481 | 37,621 | 22,228 | ||||||||||||
Total assets | 551,983,026 | 13,749,504 | 20,159,335 | 819,596,203 | ||||||||||||
Liabilities | ||||||||||||||||
Payable for investments purchased | — | — | — | 15,877,097 | ||||||||||||
Payable for fund shares redeemed | 771,059 | 65,012 | 64,894 | 1,317,709 | ||||||||||||
Accrued custody fees | 1,195 | 1,662 | 85 | 3,063 | ||||||||||||
Accrued investment advisory fees, net | 201,111 | — | — | 289,151 | ||||||||||||
Accrued administrative fees | 44,595 | 1,133 | 1,655 | 64,068 | ||||||||||||
Accrued distribution fees | 50,663 | 3,095 | 2,101 | 142,955 | ||||||||||||
Accrued transfer agent and shareholder servicing fees | 58,095 | 5,357 | 3,751 | 39,648 | ||||||||||||
Accrued internal audit fees | 775 | 775 | 775 | 775 | ||||||||||||
Accrued trustees and officers compensation | 15,246 | 15,247 | 15,247 | 15,246 | ||||||||||||
Other accrued expenses | 28,248 | 24,395 | 17,070 | 26,836 | ||||||||||||
Total liabilities | 1,170,987 | 116,676 | 105,578 | 17,776,548 | ||||||||||||
Net assets | 550,812,039 | 13,632,828 | 20,053,757 | 801,819,655 | ||||||||||||
Net assets consists of | ||||||||||||||||
Paid-in capital | 359,098,575 | 13,421,584 | 18,941,289 | 552,735,267 | ||||||||||||
Total distributable earnings (loss) | 191,713,464 | 211,244 | 1,112,468 | 249,084,388 | ||||||||||||
Net assets | 550,812,039 | 13,632,828 | 20,053,757 | 801,819,655 | ||||||||||||
Net assets, at market value | ||||||||||||||||
Class A | 178,626,356 | 4,352,068 | 1,205,676 | 162,832,946 | ||||||||||||
Class C | 17,061,404 | 2,116,655 | 2,294,391 | 135,292,247 | ||||||||||||
Class I | 303,036,969 | 6,064,389 | 16,481,782 | 451,655,423 | ||||||||||||
Class R-3 | 1,099,015 | 922,377 | 11,655 | 1,849,184 | ||||||||||||
Class R-5 | 7,387,878 | 3,483 | 36,458 | 3,310,092 | ||||||||||||
Class R-6 | 43,589,070 | 140,248 | 11,903 | 46,785,055 | ||||||||||||
Class Y | 11,347 | 33,608 | 11,892 | 94,708 | ||||||||||||
NAV, offering and redemption price per share (c) | ||||||||||||||||
Class A | $42.05 | $17.20 | $15.68 | $21.13 | ||||||||||||
Class A maximum offering price (d) | 44.15 | 18.06 | 16.46 | 22.18 | ||||||||||||
Class C | 29.22 | 16.93 | 15.45 | 20.15 | ||||||||||||
Class I | 44.30 | 17.15 | 15.67 | 21.07 | ||||||||||||
Class R-3 | 40.19 | 17.01 | 15.66 | 21.04 | ||||||||||||
Class R-5 | 44.16 | 17.17 | 15.69 | 21.10 | ||||||||||||
Class R-6 | 43.93 | 17.20 | 15.70 | 21.02 | ||||||||||||
Class Y | 44.27 | 17.07 | 15.65 | 21.04 | ||||||||||||
Shares of beneficial interest outstanding | ||||||||||||||||
Class A | 4,248,430 | 253,096 | 76,906 | 7,705,998 | ||||||||||||
Class C | 583,839 | 125,027 | 148,529 | 6,714,361 | ||||||||||||
Class I | 6,839,833 | 353,506 | 1,051,694 | 21,431,570 | ||||||||||||
Class R-3 | 27,349 | 54,217 | 744 | 87,899 | ||||||||||||
Class R-5 | 167,300 | 203 | 2,323 | 156,894 | ||||||||||||
Class R-6 | 992,268 | 8,155 | 758 | 2,225,386 | ||||||||||||
Class Y | 256 | 1,968 | 760 | 4,501 | ||||||||||||
(a) Identified cost | $358,140,883 | $12,525,703 | $18,229,992 | $543,235,325 | ||||||||||||
(b) Cost | — | 231 | — | — |
(c) NAV amounts may not recalculate due to rounding of net assets and / or shares outstanding.
(d) The maximum offering price is computed as 100/95.25 of NAV.
The accompanying notes are an integral part of the financial statements. | 23 |
Table of Contents
Statements of Assets and Liabilities
(UNAUDITED) | 04.30.2019 |
Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Small Cap Growth Fund | Carillon Scout International Fund | Carillon Scout Mid Cap Fund | |||||||||||||
Assets | ||||||||||||||||
Investments, at value (a) | $5,360,776,922 | $4,636,021,957 | $758,335,727 | $2,881,326,422 | ||||||||||||
Cash | 83,659,840 | 96,775,397 | 9,798,762 | 9,986,269 | ||||||||||||
Receivable for investments sold | 11,044,651 | — | — | 15,955,529 | ||||||||||||
Receivable for fund shares sold | 15,719,471 | 3,105,429 | 245,037 | 13,489,942 | ||||||||||||
Receivable for dividends and interest, net | 390,348 | 597,659 | 7,236,088 | 2,657,219 | ||||||||||||
Prepaid expenses | 17,966 | 59,038 | 15,705 | 11,750 | ||||||||||||
Total assets | 5,471,609,198 | 4,736,559,480 | 775,631,319 | 2,923,427,131 | ||||||||||||
Liabilities | ||||||||||||||||
Payable for investments purchased | — | 8,275,902 | — | — | ||||||||||||
Payable for fund shares redeemed | 9,876,584 | 9,573,654 | 613,712 | 2,798,685 | ||||||||||||
Accrued custody fees | 23,229 | 22,593 | 22,255 | 13,983 | ||||||||||||
Accrued investment advisory fees, net | 2,252,984 | 1,981,052 | 509,367 | 1,737,707 | ||||||||||||
Accrued administrative fees | 438,268 | 383,883 | 63,673 | 236,502 | ||||||||||||
Accrued distribution fees | 290,052 | 210,471 | 289 | 23,394 | ||||||||||||
Accrued transfer agent and shareholder servicing fees | 246,711 | 427,018 | 122,070 | 170,142 | ||||||||||||
Accrued internal audit fees | 774 | 775 | 775 | 775 | ||||||||||||
Accrued trustees and officers compensation | 15,247 | 15,247 | 15,246 | 15,247 | ||||||||||||
Other accrued expenses | 100,677 | 203,061 | 48,465 | 64,942 | ||||||||||||
Total liabilities | 13,244,526 | 21,093,656 | 1,395,852 | 5,061,377 | ||||||||||||
Net assets | 5,458,364,672 | 4,715,465,824 | 774,235,467 | 2,918,365,754 | ||||||||||||
Net assets consists of | ||||||||||||||||
Paid-in capital | 4,284,566,148 | 3,274,170,820 | 535,846,644 | 2,540,125,134 | ||||||||||||
Total distributable earnings (loss) | 1,173,798,524 | 1,441,295,004 | 238,388,823 | 378,240,620 | ||||||||||||
Net assets | 5,458,364,672 | 4,715,465,824 | 774,235,467 | 2,918,365,754 | ||||||||||||
Net assets, at market value | ||||||||||||||||
Class A | 753,401,545 | 507,201,743 | 855,480 | 18,801,189 | ||||||||||||
Class C | 145,327,947 | 88,305,671 | 137,831 | 18,058,854 | ||||||||||||
Class I | 1,295,065,870 | 1,254,169,687 | 770,003,248 | 2,775,778,445 | ||||||||||||
Class R-3 | 47,101,254 | 82,379,155 | 9,730 | 2,071,539 | ||||||||||||
Class R-5 | 780,324,832 | 402,132,025 | 9,807 | 843,594 | ||||||||||||
Class R-6 | 2,435,230,457 | 2,381,265,353 | 3,208,794 | 80,992,564 | ||||||||||||
Class Y | 1,912,767 | 12,190 | 10,577 | 21,819,569 | ||||||||||||
NAV, offering and redemption price per share (b) | ||||||||||||||||
Class A | $61.89 | $51.26 | $18.36 | $18.71 | ||||||||||||
Class A maximum offering price (c) | 64.98 | 53.82 | 19.28 | 19.64 | ||||||||||||
Class C | 48.59 | 34.05 | 18.34 | 18.58 | ||||||||||||
Class I | 65.62 | 54.80 | 18.45 | 18.77 | ||||||||||||
Class R-3 | 59.81 | 48.98 | 18.44 | 18.66 | ||||||||||||
Class R-5 | 65.44 | 55.10 | 18.45 | 18.70 | ||||||||||||
Class R-6 | 66.10 | 55.75 | 18.43 | 18.76 | ||||||||||||
Class Y | 65.28 | 54.42 | 18.44 | 18.70 | ||||||||||||
Shares of beneficial interest outstanding | ||||||||||||||||
Class A | 12,172,873 | 9,894,451 | 46,582 | 1,004,669 | ||||||||||||
Class C | 2,991,172 | 2,593,184 | 7,516 | 971,763 | ||||||||||||
Class I | 19,735,341 | 22,886,749 | 41,731,635 | 147,847,630 | ||||||||||||
Class R-3 | 787,468 | 1,682,049 | 528 | 110,990 | ||||||||||||
Class R-5 | 11,923,551 | 7,298,634 | 531 | 45,124 | ||||||||||||
Class R-6 | 36,841,433 | 42,716,551 | 174,131 | 4,318,262 | ||||||||||||
Class Y | 29,301 | 224 | 574 | 1,166,579 | ||||||||||||
(a) Identified cost | $4,197,882,553 | $3,258,336,822 | $514,359,823 | $2,439,975,983 |
(b) NAV amounts may not recalculate due to rounding of net assets and / or shares outstanding.
(c) The maximum offering price is computed as 100/95.25 of NAV.
24 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Statements of Assets and Liabilities
(UNAUDITED) | 04.30.2019 |
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) | $346,547,023 | $109,418,643 | $669,834,688 | $1,119,771,042 | ||||||||||||
Premiums paid—open swap contracts | — | 44,209 | 1,085,575 | 2,306,086 | ||||||||||||
Unrealized appreciation—open swap contracts | — | 197,293 | 991,219 | 1,525,609 | ||||||||||||
Unrealized appreciation—open futures contracts | — | — | 1,886,215 | 4,270,304 | ||||||||||||
Cash | 2,217,359 | 6,195,287 | 17,470,339 | 64,103,232 | ||||||||||||
Cash deposit at broker—open futures contracts | — | — | 4,478,473 | 12,610,020 | ||||||||||||
Variation margin receivable—open swap contracts | — | 746 | 44,417 | 24,792 | ||||||||||||
Variation margin receivable—open futures contracts | — | — | 784,567 | 1,319,430 | ||||||||||||
Receivable for investments sold | — | 14,723,373 | 91,497,700 | 46,969,999 | ||||||||||||
Receivable for fund shares sold | 857,059 | 3,213 | 501,550 | 24,581,957 | ||||||||||||
Receivable for dividends and interest, net | 76,900 | 548,424 | 3,220,626 | 6,545,366 | ||||||||||||
Receivable due from adviser, net | — | 14,244 | — | — | ||||||||||||
Prepaid expenses | 16,576 | 15,591 | 19,585 | 6,734 | ||||||||||||
Total assets | 349,714,917 | 131,161,023 | 791,814,954 | 1,284,034,571 | ||||||||||||
Liabilities | ||||||||||||||||
Unrealized depreciation—open futures contracts | — | — | 1,905,136 | 6,261,610 | ||||||||||||
Cash collateral received from broker—open swap contracts | — | 38,788 | 611,168 | 1,101,260 | ||||||||||||
Payable for investments purchased | — | 26,333,092 | 160,621,189 | 107,879,174 | ||||||||||||
Payable for fund shares redeemed | 561,779 | 37,233 | 183,470 | 487,931 | ||||||||||||
Accrued custody fees | 3,402 | 747 | 3,914 | 5,632 | ||||||||||||
Accrued investment advisory fees, net | 175,271 | — | 54,055 | 239,470 | ||||||||||||
Accrued administrative fees | 28,130 | 8,599 | 53,781 | 96,445 | ||||||||||||
Accrued distribution fees | 10,943 | 901 | 3,367 | 5,210 | ||||||||||||
Accrued transfer agent and shareholder servicing fees | 41,674 | 12,801 | 25,297 | 171,783 | ||||||||||||
Accrued internal audit fees | 724 | 775 | 775 | 775 | ||||||||||||
Accrued trustees and officers compensation | 15,247 | 15,247 | 15,247 | 15,247 | ||||||||||||
Other accrued expenses | 26,507 | 23,980 | 32,880 | 74,794 | ||||||||||||
Total liabilities | 863,677 | 26,472,163 | 163,510,279 | 116,339,331 | ||||||||||||
Net assets | 348,851,240 | 104,688,860 | 628,304,675 | 1,167,695,240 | ||||||||||||
Net assets consists of | ||||||||||||||||
Paid-in capital | 216,478,053 | 105,735,379 | 636,412,374 | 1,207,955,356 | ||||||||||||
Total distributable earnings (loss) | 132,373,187 | (1,046,519 | ) | (8,107,699 | ) | (40,260,116 | ) | |||||||||
Net assets | 348,851,240 | 104,688,860 | 628,304,675 | 1,167,695,240 | ||||||||||||
Net assets, at market value | ||||||||||||||||
Class A | 14,316,981 | 855,840 | 244,913 | 270,356 | ||||||||||||
Class C | 9,721,478 | 416,802 | 257,523 | 85,769 | ||||||||||||
Class I | 317,192,399 | 101,530,340 | 612,853,236 | 1,094,381,794 | ||||||||||||
Class R-3 | 269,738 | 10,330 | 10,290 | 10,218 | ||||||||||||
Class R-5 | 74,765 | 10,413 | 10,372 | 10,299 | ||||||||||||
Class R-6 | 7,162,488 | 10,428 | 10,387 | 48,248,081 | ||||||||||||
Class Y | 113,391 | 1,854,707 | 14,917,954 | 24,688,723 | ||||||||||||
NAV, offering and redemption price per share (b) | ||||||||||||||||
Class A | $29.68 | $11.52 | $31.96 | $11.85 | ||||||||||||
Class A maximum offering price (c) | 31.16 | 11.97 | 33.21 | 12.31 | ||||||||||||
Class C | 29.34 | 11.51 | 31.92 | 11.83 | ||||||||||||
Class I | 29.80 | 11.53 | 31.98 | 11.84 | ||||||||||||
Class R-3 | 29.55 | 11.53 | 31.97 | 11.83 | ||||||||||||
Class R-5 | 29.80 | 11.54 | 31.98 | 11.84 | ||||||||||||
Class R-6 | 29.85 | 11.54 | 31.98 | 11.84 | ||||||||||||
Class Y | 29.66 | 11.53 | 31.96 | 11.90 | ||||||||||||
Shares of beneficial interest outstanding | ||||||||||||||||
Class A | 482,407 | 74,282 | 7,663 | 22,810 | ||||||||||||
Class C | 331,285 | 36,205 | 8,068 | 7,253 | ||||||||||||
Class I | 10,645,341 | 8,803,699 | 19,160,780 | 92,422,769 | ||||||||||||
Class R-3 | 9,127 | 896 | 322 | 864 | ||||||||||||
Class R-5 | 2,509 | 903 | 324 | 870 | ||||||||||||
Class R-6 | 239,969 | 904 | 325 | 4,075,781 | ||||||||||||
Class Y | 3,822 | 160,893 | 466,751 | 2,075,269 | ||||||||||||
(a) Identified cost | $212,079,584 | $108,410,531 | $662,972,303 | $1,110,434,894 |
(b) NAV amounts may not recalculate due to rounding of net assets and / or shares outstanding.
(c) The maximum offering price for the Carillon Scout Small Cap Fund is computed as 100/95.25 of NAV. The maximum offering price for the Carillon Reams Core Bond Fund, Carillon Reams Core Plus Bond Fund and Carillon Reams Unconstrained Bond Fund is computed as 100/96.25 of NAV.
The accompanying notes are an integral part of the financial statements. | 25 |
Table of Contents
(UNAUDITED) | 11.01.2018 to 04.30.2019 |
Carillon ClariVest Capital Appreciation Fund | Carillon ClariVest International Stock Fund | Carillon Cougar Tactical Allocation Fund | Carillon Eagle Growth & Income Fund | |||||||||||||
Investment income | ||||||||||||||||
Dividends | $3,400,682 | $228,881 | $209,144 | $10,452,195 | ||||||||||||
Less: foreign taxes withheld | — | (21,448 | ) | — | (148,967 | ) | ||||||||||
Interest | 64,258 | 2,227 | 6,670 | 368,958 | ||||||||||||
Total investment income | 3,464,940 | 209,660 | 215,814 | 10,672,186 | ||||||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 1,414,517 | 51,735 | 63,142 | 1,546,300 | ||||||||||||
Administrative fees: | ||||||||||||||||
Class A | 83,479 | 2,269 | 766 | 74,615 | ||||||||||||
Class C | 8,844 | 1,140 | 1,072 | 64,811 | ||||||||||||
Class I | 119,208 | 3,454 | 9,206 | 174,388 | ||||||||||||
Class R-3 | 590 | 437 | 6 | 925 | ||||||||||||
Class R-5 | 3,465 | 2 | 17 | 787 | ||||||||||||
Class R-6 | 20,161 | 73 | 6 | 21,421 | ||||||||||||
Class Y | 5 | 16 | 6 | 39 | ||||||||||||
Distribution and service fees: | ||||||||||||||||
Class A | 208,697 | 5,673 | 1,914 | 186,539 | ||||||||||||
Class C | 88,444 | 11,396 | 10,720 | 648,112 | ||||||||||||
Class R-3 | 2,948 | 2,185 | 28 | 4,623 | ||||||||||||
Class Y | 13 | 40 | 14 | 97 | ||||||||||||
Transfer agent and shareholder servicing fees: | ||||||||||||||||
Class A | 85,816 | 5,036 | 1,252 | 72,145 | ||||||||||||
Class C | 10,857 | 2,833 | 1,659 | 62,684 | ||||||||||||
Class I | 118,132 | 7,334 | 14,585 | 122,523 | ||||||||||||
Class R-3 | 1,420 | 935 | 40 | 1,536 | ||||||||||||
Class R-5 | 2,290 | 39 | 62 | 376 | ||||||||||||
Class R-6 | 1,659 | 112 | 37 | 1,510 | ||||||||||||
Class Y | 40 | 55 | 44 | 53 | ||||||||||||
Custodian fees | 9,365 | 18,019 | 478 | 9,393 | ||||||||||||
Professional fees | 47,154 | 48,841 | 45,291 | 46,956 | ||||||||||||
State registration fees | 53,138 | 44,256 | 44,713 | 53,359 | ||||||||||||
Trustees and officers compensation | 34,698 | 34,698 | 34,698 | 34,698 | ||||||||||||
Internal audit fees | 4,831 | 4,831 | 4,831 | 4,831 | ||||||||||||
Interest expense on line of credit | 4,274 | 1,853 | 520 | — | ||||||||||||
Other expenses | 56,859 | 30,333 | 20,012 | 66,078 | ||||||||||||
Total expenses before adjustments | 2,380,904 | 277,595 | 255,119 | 3,198,799 | ||||||||||||
Fees and expenses waived | (404,234 | ) | (171,450 | ) | (145,150 | ) | — | |||||||||
Recovered fees previously waived by Manager | — | — | — | 26 | ||||||||||||
Total expenses after adjustments | 1,976,670 | 106,145 | 109,969 | 3,198,825 | ||||||||||||
Net investment income (loss) | 1,488,270 | 103,515 | 105,845 | 7,473,361 | ||||||||||||
Realized and unrealized gain (loss) | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments | 2,984,743 | (799,579 | ) | (357,123 | ) | 21,848,138 | ||||||||||
Foreign currency transactions | — | (3,150 | ) | — | (1,810 | ) | ||||||||||
Net realized gain (loss) | 2,984,743 | (802,729 | ) | (357,123 | ) | 21,846,328 | ||||||||||
Net change in unrealized appreciation (depreciation) on | ||||||||||||||||
investments and foreign currency translations | 40,417,721 | 875,685 | 1,003,652 | 28,855,028 | ||||||||||||
Net gain (loss) on investments | 43,402,464 | 72,956 | 646,529 | 50,701,356 | ||||||||||||
Net increase (decrease) in assets resulting from operations | 44,890,734 | 176,471 | 752,374 | 58,174,717 |
26 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Statements of Operations
(UNAUDITED) | 11.01.2018 to 04.30.2019 |
Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Small Cap Growth Fund | Carillon Scout International Fund | Carillon Scout Mid Cap Fund | |||||||||||||
Investment income | ||||||||||||||||
Dividends | $14,573,771 | $10,982,413 | $11,123,762 | $25,354,100 | ||||||||||||
Less: foreign taxes withheld | (124,416 | ) | (77,597 | ) | (934,233 | ) | (12,304 | ) | ||||||||
Interest | 1,022,685 | 539,602 | 179,723 | 546,300 | ||||||||||||
Total investment income | 15,472,040 | 11,444,418 | 10,369,252 | 25,888,096 | ||||||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 12,103,206 | 11,595,695 | 3,034,620 | 9,565,854 | ||||||||||||
Administrative fees: | ||||||||||||||||
Class A | 340,691 | 247,875 | 298 | 6,814 | ||||||||||||
Class C | 70,010 | 47,797 | 51 | 6,691 | ||||||||||||
Class I | 574,830 | 613,708 | 377,578 | 1,248,798 | ||||||||||||
Class R-3 | 21,084 | 40,318 | 5 | 815 | ||||||||||||
Class R-5 | 351,350 | 204,787 | 5 | 373 | ||||||||||||
Class R-6 | 987,752 | 1,090,248 | 1,386 | 25,359 | ||||||||||||
Class Y | 541 | 21 | 5 | 6,859 | ||||||||||||
Distribution and service fees: | ||||||||||||||||
Class A | 851,728 | 619,687 | 745 | 17,036 | ||||||||||||
Class C | 700,100 | 477,971 | 510 | 66,913 | ||||||||||||
Class R-3 | 105,419 | 201,593 | 22 | 4,073 | ||||||||||||
Class Y | 1,352 | 53 | 12 | 17,147 | ||||||||||||
Transfer agent and shareholder servicing fees: | ||||||||||||||||
Class A | 535,323 | 461,119 | 495 | 2,753 | ||||||||||||
Class C | 71,033 | 59,675 | 74 | 3,978 | ||||||||||||
Class I | 544,742 | 749,900 | 461,287 | 1,208,159 | ||||||||||||
Class R-3 | 34,081 | 76,517 | 32 | 911 | ||||||||||||
Class R-5 | 338,358 | 263,676 | 32 | 212 | ||||||||||||
Class R-6 | 47,656 | 56,751 | 258 | 1,494 | ||||||||||||
Class Y | 199 | 72 | 47 | 1,838 | ||||||||||||
Custodian fees | 64,302 | 62,928 | 69,517 | 41,765 | ||||||||||||
Professional fees | 46,705 | 46,614 | 48,486 | 47,304 | ||||||||||||
State registration fees | 96,592 | 61,112 | 45,089 | 93,644 | ||||||||||||
Trustees and officers compensation | 34,697 | 34,698 | 34,698 | 34,698 | ||||||||||||
Internal audit fees | 4,832 | 4,831 | 4,831 | 4,831 | ||||||||||||
Interest expense on line of credit | — | 21,855 | 387 | — | ||||||||||||
Other expenses | 358,570 | 419,976 | 172,229 | 260,590 | ||||||||||||
Total expenses before adjustments | 18,285,153 | 17,459,477 | 4,252,699 | 12,668,909 | ||||||||||||
Fees and expenses waived | — | (19 | ) | (85 | ) | — | ||||||||||
Recovered fees previously waived by Manager | — | — | 13 | — | ||||||||||||
Total expenses after adjustments | 18,285,153 | 17,459,458 | 4,252,627 | 12,668,909 | ||||||||||||
Net investment income (loss) | (2,813,113 | ) | (6,015,040 | ) | 6,116,625 | 13,219,187 | ||||||||||
Realized and unrealized gain (loss) | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments | 21,772,355 | 91,398,431 | 13,406,594 | (31,530,122 | ) | |||||||||||
Foreign currency transactions | — | — | 30,545 | 65 | ||||||||||||
Net realized gain (loss) | 21,772,355 | 91,398,431 | 13,437,139 | (31,530,057 | ) | |||||||||||
Net change in unrealized appreciation (depreciation) on | ||||||||||||||||
investments and foreign currency translations | 631,883,915 | 342,501,234 | 39,855,719 | 283,820,456 | ||||||||||||
Net gain (loss) on investments | 653,656,270 | 433,899,665 | 53,292,858 | 252,290,399 | ||||||||||||
Net increase (decrease) in assets resulting from operations |
| 650,843,157 |
| 427,884,625 | 59,409,483 | 265,509,586 |
The accompanying notes are an integral part of the financial statements. | 27 |
Table of Contents
Statements of Operations
(UNAUDITED) | 11.01.2018 to 04.30.2019 |
Carillon Scout Small Cap Fund | Carillon Reams Core Bond Fund | Carillon Reams Core Plus Bond Fund | Carillon Reams Unconstrained Bond Fund | |||||||||||||
Investment income | ||||||||||||||||
Dividends | $1,906,183 | $— | $— | $— | ||||||||||||
Less: foreign taxes withheld | — | — | — | — | ||||||||||||
Interest | 23,671 | 1,484,452 | 8,812,461 | 15,637,054 | ||||||||||||
Total investment income | 1,929,854 | 1,484,452 | 8,812,461 | 15,637,054 | ||||||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 953,945 | 210,507 | 1,266,290 | 3,588,840 | ||||||||||||
Administrative fees: | ||||||||||||||||
Class A | 6,185 | 394 | 114 | 102 | ||||||||||||
Class C | 5,755 | 257 | 142 | 30 | ||||||||||||
Class I | 143,964 | 51,092 | 308,412 | 561,213 | ||||||||||||
Class R-3 | 146 | 5 | 5 | 5 | ||||||||||||
Class R-5 | 33 | 5 | 5 | 5 | ||||||||||||
Class R-6 | 2,856 | 5 | 5 | 21,751 | ||||||||||||
Class Y | 52 | 868 | 7,889 | 15,034 | ||||||||||||
Distribution and service fees: | ||||||||||||||||
Class A | 15,462 | 986 | 286 | 256 | ||||||||||||
Class C | 57,545 | 2,573 | 1,422 | 305 | ||||||||||||
Class R-3 | 732 | 25 | 25 | 25 | ||||||||||||
Class Y | 129 | 2,170 | 19,721 | 37,585 | ||||||||||||
Transfer agent and shareholder servicing fees: | ||||||||||||||||
Class A | 6,911 | 361 | 160 | 86 | ||||||||||||
Class C | 7,322 | 289 | 234 | 87 | ||||||||||||
Class I | 155,079 | 52,928 | 219,117 | 542,723 | ||||||||||||
Class R-3 | 342 | 32 | 32 | 35 | ||||||||||||
Class R-5 | 53 | 33 | 32 | 32 | ||||||||||||
Class R-6 | 207 | 32 | 32 | 1,034 | ||||||||||||
Class Y | 50 | 1,580 | 14,107 | 30,686 | ||||||||||||
Custodian fees | 7,888 | 2,417 | 10,944 | 17,611 | ||||||||||||
Professional fees | 47,447 | 50,061 | 50,039 | 49,220 | ||||||||||||
State registration fees | 46,174 | 42,755 | 47,456 | 47,680 | ||||||||||||
Trustees and officers compensation | 34,697 | 34,698 | 34,698 | 34,698 | ||||||||||||
Internal audit fees | 4,856 | 4,831 | 4,831 | 4,831 | ||||||||||||
Interest expense on line of credit | — | — | — | 988 | ||||||||||||
Other expenses | 50,605 | 33,150 | 65,813 | 168,533 | ||||||||||||
Total expenses before adjustments | 1,548,435 | 492,054 | 2,051,811 | 5,123,395 | ||||||||||||
Fees and expenses waived | (89 | ) | (273,501 | ) | (751,836 | ) | (2,108,690 | ) | ||||||||
Recovered fees previously waived by Manager | 31,378 | — | — | — | ||||||||||||
Total expenses after adjustments | 1,579,724 | 218,553 | 1,299,975 | 3,014,705 | ||||||||||||
Net investment income (loss) | 350,130 | 1,265,899 | 7,512,486 | 12,622,349 | ||||||||||||
Realized and unrealized gain (loss) on investments | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments | (1,941,311 | ) | 923,206 | 4,409,239 | 1,516,599 | |||||||||||
Foreign currency transactions | — | — | 162,699 | 650,987 | ||||||||||||
Swap contracts | — | 180,948 | 2,915,493 | 7,931,504 | ||||||||||||
Futures contracts | — | — | (297,719 | ) | (9,333,916 | ) | ||||||||||
Net realized gain (loss) | (1,941,311 | ) | 1,104,154 | 7,189,712 | 765,174 | |||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments and foreign currency translations | 31,944,247 | 3,312,431 | 20,701,822 | 37,375,838 | ||||||||||||
Swap contracts | — | 197,293 | 923,077 | 1,388,041 | ||||||||||||
Futures contracts | — | — | 1,951,500 | 3,204,338 | ||||||||||||
Net change in unrealized appreciation (depreciation) | 31,944,247 | 3,509,724 | 23,576,399 | 41,968,217 | ||||||||||||
Net gain (loss) on investments | 30,002,936 | 4,613,878 | 30,766,111 | 42,733,391 | ||||||||||||
Net increase (decrease) in assets resulting from operations | 30,353,066 | 5,879,777 | 38,278,597 | 55,355,740 |
28 | The accompanying notes are an integral part of the financial statements. |
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 | |||||||||||||||||||||||||||||
11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | 11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | 11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | 11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | |||||||||||||||||||||||||
Net assets, beginning of period | $452,343,541 | $390,895,027 | $17,491,910 | $18,837,745 | $23,810,421 | $17,248,864 | $592,140,185 | $604,140,235 | ||||||||||||||||||||||||
Increase (decrease) in net assets from operations | ||||||||||||||||||||||||||||||||
Net investment income (loss) | 1,488,270 | 1,200,732 | 103,515 | 253,880 | 105,845 | 150,861 | 7,473,361 | 11,271,217 | ||||||||||||||||||||||||
Net realized gain (loss) | 2,984,743 | 36,674,734 | (802,729 | ) | 661,743 | (357,123 | ) | 800,208 | 21,846,328 | 42,111,759 | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 40,417,721 | (14,784,125 | ) | 875,685 | (2,632,476 | ) | 1,003,652 | (632,361 | ) | 28,855,028 | 3,264,320 | |||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 44,890,734 | 23,091,341 | 176,471 | (1,716,853 | ) | 752,374 | 318,708 | 58,174,717 | 56,647,296 | |||||||||||||||||||||||
Distributions to shareholders from earnings | (38,346,395 | ) | (25,472,949 | ) | (226,694 | ) | (206,971 | ) | (971,271 | ) | (446,042 | ) | (49,963,406 | ) | (26,272,595 | ) | ||||||||||||||||
Fund share transactions | ||||||||||||||||||||||||||||||||
Proceeds from shares sold-Class A | 4,013,177 | 49,558,565 | 286,283 | 3,706,159 | 616,893 | 411,667 | 26,279,964 | 38,687,158 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 14,420,308 | 9,810,169 | 62,052 | 53,718 | 62,281 | 35,648 | 11,046,861 | 6,144,566 | ||||||||||||||||||||||||
Cost of shares redeemed-Class A | (15,595,276 | ) | (44,356,804 | ) | (1,031,329 | ) | (2,620,004 | ) | (755,955 | ) | (715,369 | ) | (20,684,735 | ) | (52,947,759 | ) | ||||||||||||||||
Proceeds from shares sold-Class C | 1,047,596 | 2,871,775 | 189,129 | 520,399 | 353,475 | 715,621 | 20,702,246 | 9,892,575 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 2,149,571 | 5,106,005 | 6,532 | 28,462 | 72,560 | 36,455 | 8,273,501 | 5,072,430 | ||||||||||||||||||||||||
Cost of shares redeemed-Class C | (5,006,948 | ) | (51,131,138 | ) | (726,438 | ) | (2,863,251 | ) | (154,408 | ) | (596,293 | ) | (22,222,791 | ) | (61,909,752 | ) | ||||||||||||||||
Proceeds from shares sold-Class I | 115,055,956 | 118,549,302 | 439,283 | 2,881,277 | 3,248,774 | 12,887,704 | 190,191,719 | 65,439,163 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 16,869,014 | 7,117,568 | 142,992 | 115,509 | 829,258 | 366,673 | 18,578,413 | 8,964,349 | ||||||||||||||||||||||||
Cost of shares redeemed-Class I | (41,061,128 | ) | (40,782,238 | ) | (3,234,169 | ) | (1,528,823 | ) | (7,813,662 | ) | (6,466,185 | ) | (38,330,665 | ) | (61,303,674 | ) | ||||||||||||||||
Proceeds from sharessold-Class R-3 | 72,525 | 413,599 | 93,535 | 159,179 | — | — | 324,698 | 222,408 | ||||||||||||||||||||||||
Issued as reinvestment ofdistributions-Class R-3 | 121,423 | 80,730 | 10,790 | 7,995 | 389 | 262 | 130,095 | 80,464 | ||||||||||||||||||||||||
Cost of sharesredeemed-Class R-3 | (442,829 | ) | (301,074 | ) | (82,953 | ) | (16,478 | ) | — | — | (491,386 | ) | (870,732 | ) | ||||||||||||||||||
Proceeds from sharessold-Class R-5 | 373,516 | 7,695,419 | — | — | — | — | 2,658,456 | 32,918 | ||||||||||||||||||||||||
Issued as reinvestment ofdistributions-Class R-5 | 617,839 | 195,042 | 55 | 45 | 1,386 | 978 | 57,216 | 20,226 | ||||||||||||||||||||||||
Cost of sharesredeemed-Class R-5 | (896,141 | ) | (3,469,801 | ) | — | — | — | — | (43,541 | ) | (13,106 | ) | ||||||||||||||||||||
Proceeds from sharessold-Class R-6 | 2,281,387 | 6,027,841 | 71,594 | 100,072 | — | — | 4,051,833 | 5,641,896 | ||||||||||||||||||||||||
Issued as reinvestment ofdistributions-Class R-6 | 3,552,645 | 2,575,449 | 2,790 | 177 | 464 | 333 | 3,501,021 | 1,918,066 | ||||||||||||||||||||||||
Cost of sharesredeemed-Class R-6 | (5,649,318 | ) | (6,141,206 | ) | (39,532 | ) | (91 | ) | — | — | (2,585,905 | ) | (7,508,808 | ) | ||||||||||||||||||
Proceeds from shares sold-Class Y | — | 17,500 | — | 33,500 | 358 | 11,108 | 25,610 | 62,300 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 842 | 619 | 527 | 144 | 420 | 289 | 5,549 | 561 | ||||||||||||||||||||||||
Cost of shares redeemed-Class Y | — | (7,200 | ) | — | — | — | — | — | — | |||||||||||||||||||||||
Net increase (decrease) from fund share transactions | 91,924,159 | 63,830,122 | (3,808,859 | ) | 577,989 | (3,537,767 | ) | 6,688,891 | 201,468,159 | (42,374,751 | ) | |||||||||||||||||||||
Increase (decrease) in net assets | 98,468,498 | 61,448,514 | (3,859,082 | ) | (1,345,835 | ) | (3,756,664 | ) | 6,561,557 | 209,679,470 | (12,000,050 | ) | ||||||||||||||||||||
Net assets, end of period | 550,812,039 | 452,343,541 | 13,632,828 | 17,491,910 | 20,053,757 | 23,810,421 | 801,819,655 | 592,140,185 | ||||||||||||||||||||||||
Shares issued and redeemed | ||||||||||||||||||||||||||||||||
Shares sold-Class A | 102,172 | 1,108,742 | 17,522 | 195,834 | 39,162 | 25,051 | 1,300,777 | 1,824,095 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 418,344 | 232,303 | 4,085 | 2,847 | 4,386 | 2,213 | 590,440 | 291,946 | ||||||||||||||||||||||||
Shares redeemed-Class A | (399,323 | ) | (1,004,030 | ) | (62,829 | ) | (141,686 | ) | (49,428 | ) | (43,477 | ) | (1,021,590 | ) | (2,486,963 | ) | ||||||||||||||||
Shares sold-Class C | 41,000 | 88,835 | 12,057 | 27,750 | 23,284 | 43,374 | 1,081,872 | 482,826 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 89,491 | 165,618 | 435 | 1,534 | 5,172 | 2,280 | 464,499 | 251,402 | ||||||||||||||||||||||||
Shares redeemed-Class C | (183,918 | ) | (1,568,891 | ) | (45,189 | ) | (154,641 | ) | (10,279 | ) | (36,418 | ) | (1,147,690 | ) | (3,048,515 | ) | ||||||||||||||||
Shares sold-Class I | 2,899,379 | 2,573,878 | 27,147 | 155,026 | 217,761 | 814,535 | 9,659,627 | 3,076,647 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 464,967 | 160,777 | 9,444 | 6,138 | 58,481 | 22,774 | 991,973 | 426,255 | ||||||||||||||||||||||||
Shares redeemed-Class I | (1,027,369 | ) | (869,401 | ) | (208,125 | ) | (83,556 | ) | (520,089 | ) | (392,283 | ) | (1,916,691 | ) | (2,893,264 | ) | ||||||||||||||||
Sharessold-Class R-3 | 1,914 | 9,805 | 5,707 | 8,580 | — | — | 16,039 | 10,457 | ||||||||||||||||||||||||
Issued as reinvestment ofdistributions-Class R-3 | 3,683 | 1,988 | 717 | 427 | 27 | 16 | 6,992 | 3,837 | ||||||||||||||||||||||||
Sharesredeemed-Class R-3 | (12,206 | ) | (7,235 | ) | (4,977 | ) | (903 | ) | — | — | (24,151 | ) | (41,853 | ) | ||||||||||||||||||
Sharessold-Class R-5 | 8,991 | 167,340 | — | — | — | — | 133,542 | 1,539 | ||||||||||||||||||||||||
Issued as reinvestment ofdistributions-Class R-5 | 17,086 | 4,418 | 4 | 2 | 97 | 61 | 2,969 | 961 | ||||||||||||||||||||||||
Sharesredeemed-Class R-5 | (21,774 | ) | (76,355 | ) | — | — | — | — | (2,124 | ) | (608 | ) | ||||||||||||||||||||
Sharessold-Class R-6 | 54,983 | 130,821 | 4,307 | 5,366 | — | — | 198,143 | 265,422 | ||||||||||||||||||||||||
Issued as reinvestment ofdistributions-Class R-6 | 98,794 | 58,640 | 184 | 9 | 33 | 21 | 188,002 | 91,436 | ||||||||||||||||||||||||
Sharesredeemed-Class R-6 | (136,500 | ) | (133,602 | ) | (2,354 | ) | (5 | ) | — | — | (128,793 | ) | (355,727 | ) | ||||||||||||||||||
Shares sold-Class Y | — | 378 | — | 1,925 | 24 | 688 | 1,294 | 2,884 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 23 | 14 | 35 | 8 | 30 | 18 | 297 | 26 | ||||||||||||||||||||||||
Shares redeemed-Class Y | — | (159 | ) | — | — | — | — | — | — | |||||||||||||||||||||||
Shares issued and redeemed | 2,419,737 | 1,043,884 | (241,830 | ) | 24,655 | (231,339 | ) | 438,853 | 10,395,427 | (2,097,197 | ) |
(†) The data for fiscal periods ending after October 31, 2018 is unaudited.
The accompanying notes are an integral part of the financial statements. | 29 |
Table of Contents
Statements of Changes in Net Assets
Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Small Cap Growth Fund | Carillon Scout International Fund | Carillon Scout Mid Cap Fund | |||||||||||||||||||||||||||||
11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | 11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | 11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | 11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | |||||||||||||||||||||||||
Net assets, beginning of period | $4,288,006,813 | $2,375,246,768 | $4,690,834,343 | $5,071,793,231 | $824,165,611 | $1,160,877,255 | $2,473,689,157 | $1,675,214,198 | ||||||||||||||||||||||||
Increase (decrease) in net assets from operations | ||||||||||||||||||||||||||||||||
Net investment income (loss) | (2,813,113 | ) | (8,361,804 | ) | (6,015,040 | ) | (19,129,070 | ) | 6,116,625 | 17,665,860 | 13,219,187 | 8,635,695 | ||||||||||||||||||||
Net realized gain (loss) on investments | 21,772,355 | 214,018,556 | 91,398,431 | 842,608,510 | 13,437,139 | 69,849,343 | (31,530,057 | ) | 139,695,786 | |||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 631,883,915 | (187,637,581 | ) | 342,501,234 | (624,220,253 | ) | 39,855,719 | (179,307,662 | ) | 283,820,456 | (184,593,371 | ) | ||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 650,843,157 | 18,019,171 | 427,884,625 | 199,259,187 | 59,409,483 | (91,792,459 | ) | 265,509,586 | (36,261,890 | ) | ||||||||||||||||||||||
Distributions to shareholders from earnings | (115,636,947 | ) | (158,724,314 | ) | (819,288,090 | ) | (381,398,349 | ) | (79,149,615 | ) | (177,685,091 | ) | (174,260,788 | ) | (138,762,254 | ) | ||||||||||||||||
Fund share transactions | ||||||||||||||||||||||||||||||||
Proceeds from shares sold-Class A | 96,135,554 | 290,123,467 | 55,237,165 | 146,346,713 | 430,671 | 449,120 | 13,777,856 | 7,430,873 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 16,656,129 | 24,654,672 | 88,342,880 | 44,021,081 | 39,756 | 1,591 | 680,334 | 3,347 | ||||||||||||||||||||||||
Cost of shares redeemed-Class A | (117,670,544 | ) | (221,781,650 | ) | (128,162,433 | ) | (258,789,196 | ) | (22,110 | ) | (25,020 | ) | (3,229,020 | ) | (435,440 | ) | ||||||||||||||||
Proceeds from shares sold-Class C | 9,409,317 | 39,467,799 | 5,230,584 | 12,169,837 | 70,011 | 65,498 | 8,926,052 | 9,580,393 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 4,521,831 | 8,528,282 | 24,802,823 | 15,524,267 | 6,071 | 1,583 | 634,556 | 1,837 | ||||||||||||||||||||||||
Cost of shares redeemed-Class C | (28,020,709 | ) | (70,094,544 | ) | (32,833,559 | ) | (76,758,455 | ) | (1,647 | ) | — | (1,213,460 | ) | (181,801 | ) | |||||||||||||||||
Proceeds from shares sold-Class I | 182,179,813 | 566,665,458 | 148,719,386 | 333,391,456 | 21,186,819 | 60,189,648 | 613,759,912 | 1,317,744,550 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 25,270,730 | 40,420,186 | 184,393,203 | 103,735,532 | 77,119,092 | 171,813,988 | 156,438,374 | 127,201,107 | ||||||||||||||||||||||||
Cost of shares redeemed-Class I | (173,495,753 | ) | (267,949,969 | ) | (318,997,845 | ) | (722,667,447 | ) | (129,569,611 | ) | (302,805,384 | ) | (497,597,080 | ) | (530,416,882 | ) | ||||||||||||||||
Proceeds from shares sold-ClassR-3 | 12,617,076 | 12,945,227 | 5,930,696 | 17,082,373 | — | 10,000 | 432,100 | 1,649,875 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-3 | 1,120,588 | 1,661,600 | 14,806,775 | 7,176,466 | 851 | 1,588 | 105,258 | 770 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-3 | (6,245,090 | ) | (11,050,282 | ) | (15,684,290 | ) | (31,495,675 | ) | — | — | (46,982 | ) | (14,805 | ) | ||||||||||||||||||
Proceeds from shares sold-ClassR-5 | 209,263,692 | 559,748,449 | 50,248,294 | 110,789,186 | — | 10,000 | 77,878 | 1,153,765 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-5 | 18,246,315 | 23,700,917 | 72,168,324 | 34,589,597 | 906 | 1,594 | 50,544 | 775 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-5 | (168,730,375 | ) | (194,371,904 | ) | (126,716,465 | ) | (154,481,135 | ) | — | — | (52,183 | ) | (345,533 | ) | ||||||||||||||||||
Proceeds from shares sold-ClassR-6 | 686,179,314 | 1,175,594,466 | 295,347,555 | 730,103,437 | 351,224 | 3,303,278 | 45,121,787 | 38,476,930 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-6 | 44,732,630 | 52,993,487 | 372,738,335 | 147,039,395 | 280,423 | 1,594 | 978,574 | 775 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-6 | (178,483,717 | ) | (221,850,346 | ) | (279,482,358 | ) | (656,682,217 | ) | (83,700 | ) | (265,263 | ) | (2,583,295 | ) | (323,638 | ) | ||||||||||||||||
Proceeds from shares sold-Class Y | 1,563,399 | 199,790 | — | 84,326 | 300 | 10,500 | 17,391,762 | 2,041,705 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 9,465 | 739 | 14,071 | 733 | 932 | 1,591 | 177,896 | 1,692 | ||||||||||||||||||||||||
Cost of shares redeemed-Class Y | (108,016 | ) | (2,845 | ) | (68,195 | ) | — | — | — | (403,064 | ) | (71,192 | ) | |||||||||||||||||||
Proceeds from shares issued-fund reorganization | N/A | 243,862,189 | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
Net increase (decrease) from fund share transactions | 635,151,649 | 2,053,465,188 | 416,034,946 | (198,819,726 | ) | (30,190,012 | ) | (67,234,094 | ) | 353,427,799 | 973,499,103 | |||||||||||||||||||||
Increase (decrease) in net assets | 1,170,357,859 | 1,912,760,045 | 24,631,481 | (380,958,888 | ) | (49,930,144 | ) | (336,711,644 | ) | 444,676,597 | 798,474,959 | |||||||||||||||||||||
Net assets, end of period | 5,458,364,672 | 4,288,006,813 | 4,715,465,824 | 4,690,834,343 | 774,235,467 | 824,165,611 | 2,918,365,754 | 2,473,689,157 | ||||||||||||||||||||||||
Shares issued and redeemed | ||||||||||||||||||||||||||||||||
Shares sold-Class A | 1,718,129 | 4,805,747 | 1,144,883 | 2,291,711 | 25,335 | 21,081 | 804,829 | 376,289 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 341,244 | 416,693 | 2,178,079 | 737,495 | 2,537 | 75 | 43,527 | 175 | ||||||||||||||||||||||||
Shares redeemed-Class A | (2,123,805 | ) | (3,704,313 | ) | (2,627,977 | ) | (4,101,199 | ) | (1,253 | ) | (1,193 | ) | (197,866 | ) | (22,285 | ) | ||||||||||||||||
Shares sold-Class C | 219,437 | 820,256 | 173,607 | 261,415 | 4,237 | 2,914 | 521,915 | 489,371 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 117,725 | 181,436 | 918,283 | 350,356 | 387 | 74 | 40,755 | 96 | ||||||||||||||||||||||||
Shares redeemed-Class C | (635,379 | ) | (1,435,017 | ) | (1,035,531 | ) | (1,622,667 | ) | (96 | ) | — | (71,111 | ) | (9,263 | ) | |||||||||||||||||
Shares sold-Class I | 3,097,501 | 8,951,579 | 2,917,796 | 5,007,733 | 1,209,502 | 2,723,323 | 35,000,546 | 67,125,594 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 488,890 | 648,183 | 4,257,520 | 1,654,738 | 4,905,795 | 8,047,494 | 9,983,304 | 6,663,233 | ||||||||||||||||||||||||
Shares redeemed-Class I | (2,950,925 | ) | (4,242,627 | ) | (6,262,142 | ) | (10,634,607 | ) | (7,425,379 | ) | (13,828,645 | ) | (28,601,631 | ) | (27,037,515 | ) | ||||||||||||||||
Shares sold-ClassR-3 | 232,806 | 222,557 | 129,888 | 275,083 | — | 399 | 24,141 | 83,463 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-3 | 23,736 | 28,995 | 381,815 | 124,160 | 54 | 75 | 6,742 | 40 | ||||||||||||||||||||||||
Shares redeemed-ClassR-3 | (115,040 | ) | (190,624 | ) | (323,339 | ) | (517,058 | ) | — | — | (2,659 | ) | (737 | ) | ||||||||||||||||||
Shares sold-ClassR-5 | 3,559,544 | 8,819,967 | 964,240 | 1,658,538 | — | 399 | 4,429 | 57,573 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-5 | 353,954 | 379,950 | 1,657,518 | 549,303 | 57 | 75 | 3,240 | 41 | ||||||||||||||||||||||||
Shares redeemed-ClassR-5 | (2,930,758 | ) | (3,067,438 | ) | (2,375,234 | ) | (2,327,766 | ) | — | — | (2,838 | ) | (17,321 | ) | ||||||||||||||||||
Shares sold-ClassR-6 | 11,595,324 | 18,433,936 | 5,535,190 | 10,906,856 | 19,563 | 154,129 | 2,529,014 | 1,887,914 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-6 | 859,417 | 838,973 | 8,463,631 | 2,317,041 | 17,861 | 75 | 62,529 | 41 | ||||||||||||||||||||||||
Shares redeemed-ClassR-6 | (2,986,204 | ) | (3,504,133 | ) | (5,204,900 | ) | (9,719,866 | ) | (4,722 | ) | (12,775 | ) | (144,909 | ) | (16,327 | ) | ||||||||||||||||
Shares sold-Class Y | 27,639 | 3,045 | — | 1,268 | 17 | 423 | 1,078,184 | 103,503 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 184 | 12 | 327 | 12 | 60 | 74 | 11,389 | 89 | ||||||||||||||||||||||||
Shares redeemed-Class Y | (1,740 | ) | (47 | ) | (1,383 | ) | — | — | — | (23,016 | ) | (3,570 | ) | |||||||||||||||||||
Shares issued-fund reorganization | N/A | 4,000,263 | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
Shares issued and redeemed | 10,891,679 | 32,407,393 | 10,892,271 | (2,787,454 | ) | (1,246,045 | ) | (2,892,003 | ) | 21,070,514 | 49,680,404 | |||||||||||||||||||||
(†) The data for fiscal periods ending after October 31, 2018 is unaudited. |
|
30 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Statements of Changes in Net Assets
Carillon Scout Small Cap Fund | Carillon Reams Core Bond Fund | Carillon Reams Core Plus Bond Fund | Carillon Reams Unconstrained Bond Fund | |||||||||||||||||||||||||||||
11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | 11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | 11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | 11/1/18 to 4/30/19(†) | 11/1/17 to 10/31/18 | |||||||||||||||||||||||||
Net assets, beginning of period | $318,969,196 | $270,531,036 | $107,564,645 | $143,842,579 | $624,870,862 | $768,561,795 | $1,249,199,294 | $1,591,781,787 | ||||||||||||||||||||||||
Increase (decrease) in net assets from operations | ||||||||||||||||||||||||||||||||
Net investment income (loss) | 350,130 | (1,528,104 | ) | 1,265,899 | 2,484,780 | 7,512,486 | 14,717,296 | 12,622,349 | 27,891,490 | |||||||||||||||||||||||
Net realized gain (loss) on investments | (1,941,311 | ) | 22,581,767 | 1,104,154 | (1,404,466 | ) | 7,189,712 | (14,497,236 | ) | 765,174 | (18,733,508 | ) | ||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 31,944,247 | (784,842 | ) | 3,509,724 | (2,482,372 | ) | 23,576,399 | (15,680,729 | ) | 41,968,217 | (34,251,016 | ) | ||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 30,353,066 | 20,268,821 | 5,879,777 | (1,402,058 | ) | 38,278,597 | (15,460,669 | ) | 55,355,740 | (25,093,034 | ) | |||||||||||||||||||||
Distributions to shareholders from earnings | (657,924 | ) | (46,763,407 | ) | (1,277,932 | ) | (2,307,527 | ) | (7,334,742 | ) | (13,372,045 | ) | (12,906,036 | ) | (26,231,399 | ) | ||||||||||||||||
Fund share transactions | ||||||||||||||||||||||||||||||||
Proceeds from shares sold-Class A | 6,806,346 | 1,257,331 | 260,418 | 619,013 | 26,994 | 225,876 | 237,449 | 234,199 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 31,811 | 11,163 | 7,891 | 5,814 | 2,194 | 2,400 | 1,699 | 848 | ||||||||||||||||||||||||
Cost of shares redeemed-Class A | (5,819,724 | ) | (2,425,430 | ) | (62,066 | ) | (2,383 | ) | (6,427 | ) | (12,300 | ) | (60,921 | ) | (148,617 | ) | ||||||||||||||||
Proceeds from shares sold-Class C | 1,153,666 | 379,686 | 775,734 | 512,094 | 163,381 | 230,768 | 50,463 | 71,637 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 27,270 | 10,951 | 3,082 | 2,454 | 1,712 | 1,315 | 343 | 253 | ||||||||||||||||||||||||
Cost of shares redeemed-Class C | (6,535,561 | ) | (2,307,193 | ) | (682,140 | ) | (208,754 | ) | (129,330 | ) | (18,277 | ) | (11,130 | ) | (26,851 | ) | ||||||||||||||||
Proceeds from shares sold-Class I | 30,724,072 | 56,513,638 | 10,959,035 | 23,273,667 | 64,921,066 | 94,150,257 | 165,374,171 | 469,850,335 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 565,176 | 45,114,741 | 1,245,989 | 2,251,072 | 5,623,716 | 10,111,364 | 11,226,554 | 23,015,289 | ||||||||||||||||||||||||
Cost of shares redeemed-Class I | (28,094,533 | ) | (69,534,464 | ) | (20,008,507 | ) | (58,375,035 | ) | (94,954,514 | ) | (209,835,364 | ) | (305,578,045 | ) | (781,026,245 | ) | ||||||||||||||||
Proceeds from shares sold-ClassR-3 | 30,469 | 24,210 | — | 10,000 | — | 10,000 | — | 10,000 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-3 | 488 | 1,741 | 89 | 139 | 84 | 135 | 79 | 132 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-3 | (93,220 | ) | (8,490 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Proceeds from shares sold-ClassR-5 | 3,001 | 10,000 | — | 10,000 | — | 10,000 | — | 10,000 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-5 | 134 | 1,741 | 117 | 186 | 112 | 182 | 107 | 179 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-5 | (119 | ) | (65 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Proceeds from shares sold-ClassR-6 | 2,046,475 | 5,549,041 | — | 10,000 | — | 10,000 | 20,187,764 | 41,307,294 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-6 | 11,144 | 216,374 | 122 | 195 | 117 | 191 | 462,859 | 290,370 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-6 | (673,451 | ) | (378,155 | ) | — | — | — | — | (2,913,026 | ) | (12,128,000 | ) | ||||||||||||||||||||
Proceeds from shares sold-Class Y | 3,300 | 92,700 | 118,295 | 178,750 | 258,152 | 2,415,673 | 1,610,979 | 10,068,156 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 182 | 1,764 | 17,556 | 33,728 | 150,301 | 343,230 | 279,460 | 815,539 | ||||||||||||||||||||||||
Cost of shares redeemed-Class Y | (24 | ) | — | (113,245 | ) | (889,289 | ) | (3,567,600 | ) | (12,503,669 | ) | (14,822,563 | ) | (43,602,578 | ) | |||||||||||||||||
Proceeds from shares issued-fund reorganization | N/A | 40,401,462 | N/A | N/A | N/A | N/A | N/A | |||||||||||||||||||||||||
Net increase (decrease) from fund share transactions | 186,902 | 74,932,746 | (7,477,630 | ) | (32,568,349 | ) | (27,510,042 | ) | (114,858,219 | ) | (123,953,758 | ) | (291,258,060 | ) | ||||||||||||||||||
Increase (decrease) in net assets | 29,882,044 | 48,438,160 | (2,875,785 | ) | (36,277,934 | ) | 3,433,813 | (143,690,933 | ) | (81,504,054 | ) | (342,582,493 | ) | |||||||||||||||||||
Net assets, end of period | 348,851,240 | 318,969,196 | 104,688,860 | 107,564,645 | 628,304,675 | 624,870,862 | 1,167,695,240 | 1,249,199,294 | ||||||||||||||||||||||||
Shares issued and redeemed | ||||||||||||||||||||||||||||||||
Shares sold-Class A | 258,474 | 42,461 | 23,283 | 55,471 | 864 | 7,252 | 20,460 | 20,176 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 1,330 | 387 | 700 | 521 | 71 | 78 | 146 | 73 | ||||||||||||||||||||||||
Shares redeemed-Class A | (232,987 | ) | (86,553 | ) | (5,480 | ) | (213 | ) | (202 | ) | (400 | ) | (5,224 | ) | (12,821 | ) | ||||||||||||||||
Shares sold-Class C | 44,223 | 13,233 | 69,038 | 45,751 | 5,231 | 7,414 | 4,329 | 6,127 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 1,150 | 381 | 274 | 220 | 55 | 42 | 30 | 22 | ||||||||||||||||||||||||
Shares redeemed-Class C | (242,687 | ) | (78,343 | ) | (60,372 | ) | (18,706 | ) | (4,087 | ) | (587 | ) | (956 | ) | (2,299 | ) | ||||||||||||||||
Shares sold-Class I | 1,105,921 | 1,911,641 | 970,618 | 2,068,956 | 2,065,511 | 3,015,596 | 14,155,495 | 40,214,342 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 23,549 | 1,580,008 | 110,725 | 200,883 | 180,775 | 324,975 | 967,908 | 1,975,490 | ||||||||||||||||||||||||
Shares redeemed-Class I | (1,036,903 | ) | (2,436,745 | ) | (1,772,549 | ) | (5,167,715 | ) | (3,017,093 | ) | (6,745,419 | ) | (26,214,929 | ) | (67,050,826 | ) | ||||||||||||||||
Shares sold-ClassR-3 | 1,195 | 843 | — | 876 | — | 315 | — | 846 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-3 | 20 | 61 | 8 | 12 | 3 | 4 | 7 | 11 | ||||||||||||||||||||||||
Shares redeemed-ClassR-3 | (3,303 | ) | (289 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Shares sold-ClassR-5 | 103 | 337 | — | 875 | — | 315 | — | 846 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-5 | 6 | 61 | 11 | 17 | 3 | 6 | 9 | 15 | ||||||||||||||||||||||||
Shares redeemed-ClassR-5 | (4 | ) | (2 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Shares sold-ClassR-6 | 72,189 | 183,537 | — | 876 | — | 315 | 1,746,202 | 3,564,946 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-6 | 464 | 7,460 | 11 | 17 | 4 | 6 | 39,838 | 25,134 | ||||||||||||||||||||||||
Shares redeemed-ClassR-6 | (24,039 | ) | (13,563 | ) | — | — | — | — | (250,435 | ) | (1,049,904 | ) | ||||||||||||||||||||
Shares sold-Class Y | 119 | 3,236 | 10,357 | 15,863 | 8,229 | 77,458 | 136,990 | 856,445 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 8 | 62 | 1,560 | 3,010 | 4,840 | 11,028 | 24,009 | 69,660 | ||||||||||||||||||||||||
Shares redeemed-Class Y | (1 | ) | — | (10,178 | ) | (79,271 | ) | (114,400 | ) | (401,555 | ) | (1,267,069 | ) | (3,717,322 | ) | |||||||||||||||||
Shares issued-fund reorganization | N/A | 1,393,774 | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
Shares issued and redeemed | (31,173 | ) | 2,521,987 | (661,994 | ) | (2,872,557 | ) | (870,196 | ) | (3,703,157 | ) | (10,643,190 | ) | (25,099,039 | ) | |||||||||||||||||
(†) The data for fiscal periods ending after October 31, 2018 is unaudited. |
The accompanying notes are an integral part of the financial statements. | 31 |
Table of Contents
Fiscal period | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | $42.91 | $0.09 | $2.71 | $2.80 | $ | (0.06 | ) | $ | (3.60 | ) | $— | $ | (3.66 | ) | $42.05 | 1.00 | 1.14 | 0.48 | 25 | 8.42 | $179 | ||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 43.14 | 0.07 | 2.40 | 2.47 | — | (2.70 | ) | — | (2.70 | ) | 42.91 | 1.02 | 1.12 | 0.15 | 45 | 5.83 | 177 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 31.12 | (0.03 | ) | 1.73 | 1.70 | — | (3.60 | ) | — | (3.60 | ) | 29.22 | 1.75 | 1.91 | (0.25 | ) | 25 | 7.98 | 17 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 32.23 | (0.17 | ) | 1.76 | 1.59 | — | (2.70 | ) | — | (2.70 | ) | 31.12 | 1.80 | 1.90 | (0.53 | ) | 45 | 5.02 | 20 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 45.09 | 0.16 | 2.85 | 3.01 | (0.20 | ) | (3.60 | ) | — | (3.80 | ) | 44.30 | 0.70 | 0.89 | 0.76 | 25 | 8.55 | 303 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 45.13 | 0.21 | 2.51 | 2.72 | (0.06 | ) | (2.70 | ) | — | (2.76 | ) | 45.09 | 0.72 | 0.88 | 0.46 | 45 | 6.15 | 203 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 41.17 | 0.05 | 2.57 | 2.62 | — | (3.60 | ) | — | (3.60 | ) | 40.19 | 1.25 | 1.53 | 0.25 | 25 | 8.29 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 41.60 | (0.04 | ) | 2.31 | 2.27 | — | (2.70 | ) | — | (2.70 | ) | 41.17 | 1.29 | 1.47 | (0.11 | ) | 45 | 5.56 | 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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 44.97 | 0.16 | 2.84 | 3.00 | (0.21 | ) | (3.60 | ) | — | (3.81 | ) | 44.16 | 0.70 | 0.86 | 0.78 | 25 | 8.56 | 7 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 44.97 | 0.18 | 2.53 | 2.71 | (0.01 | ) | (2.70 | ) | — | (2.71 | ) | 44.97 | 0.72 | 0.86 | 0.38 | 45 | 6.14 | 7 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 44.77 | 0.18 | 2.83 | 3.01 | (0.25 | ) | (3.60 | ) | — | (3.85 | ) | 43.93 | 0.60 | 0.80 | 0.88 | 25 | 8.63 | 44 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 44.82 | 0.26 | 2.48 | 2.74 | (0.09 | ) | (2.70 | ) | — | (2.79 | ) | 44.77 | 0.63 | 0.79 | 0.55 | 45 | 6.23 | 44 | |||||||||||||||||||||||||||||||||||||||||||||
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 44.90 | 0.10 | 2.88 | 2.98 | (0.01 | ) | (3.60 | ) | — | (3.61 | ) | 44.27 | 1.00 | 1.81 | 0.48 | 25 | 8.41 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 45.64 | 0.08 | 2.00 | 2.08 | (0.12 | ) | (2.70 | ) | — | (2.82 | ) | 44.90 | 1.01 | 1.55 | 0.18 | 45 | 4.67 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Carillon ClariVest International Stock Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 16.92 | 0.12 | 0.38 | 0.50 | (0.22 | ) | — | — | (0.22 | ) | 17.20 | 1.45 | 3.76 | 1.44 | 19 | 3.12 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 18.71 | 0.28 | (1.86 | ) | (1.58 | ) | (0.21 | ) | — | — | (0.21 | ) | 16.92 | 1.45 | 2.85 | 1.50 | 49 | (8.56 | ) | 5 | |||||||||||||||||||||||||||||||||||||||||||
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 |
32 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Financial Highlights
Fiscal period | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | $ 16.53 | $ 0.05 | $ 0.40 | $ 0.45 | $ (0.05 | ) | $ — | $ — | $ (0.05 | ) | $ 16.93 | 2.20 | 4.53 | 0.68 | 19 | 2.74 | $ 2 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 18.32 | 0.04 | (1.73 | ) | (1.69 | ) | (0.10 | ) | — | — | (0.10 | ) | 16.53 | 2.20 | 3.68 | 0.21 | 49 | (9.28 | ) | 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 | ||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 16.92 | 0.13 | 0.38 | 0.51 | (0.28 | ) | — | — | (0.28 | ) | 17.15 | 1.15 | 3.47 | 1.62 | 19 | 3.21 | 6 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 18.70 | 0.30 | (1.82 | ) | (1.52 | ) | (0.26 | ) | — | — | (0.26 | ) | 16.92 | 1.15 | 2.59 | 1.60 | 49 | (8.29 | ) | 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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 16.74 | 0.10 | 0.37 | 0.47 | (0.20 | ) | — | — | (0.20 | ) | 17.01 | 1.70 | 4.02 | 1.26 | 19 | 2.97 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 18.53 | 0.19 | (1.80 | ) | (1.61 | ) | (0.18 | ) | — | — | (0.18 | ) | 16.74 | 1.70 | 3.17 | 1.01 | 49 | (8.80 | ) | 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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 16.94 | 0.15 | 0.36 | 0.51 | (0.28 | ) | — | — | (0.28 | ) | 17.17 | 1.15 | 5.71 | 1.81 | 19 | 3.20 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 18.69 | 0.29 | (1.81 | ) | (1.52 | ) | (0.23 | ) | — | — | (0.23 | ) | 16.94 | 1.15 | 4.65 | 1.56 | 49 | (8.26 | ) | 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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 16.97 | 0.15 | 0.37 | 0.52 | (0.29 | ) | — | — | (0.29 | ) | 17.20 | 1.05 | 3.48 | 1.84 | 19 | 3.30 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 18.75 | 0.29 | (1.80 | ) | (1.51 | ) | (0.27 | ) | — | — | (0.27 | ) | 16.97 | 1.05 | 2.81 | 1.55 | 49 | (8.21 | ) | 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 | ||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 16.86 | 0.12 | 0.36 | 0.48 | (0.27 | ) | — | — | (0.27 | ) | 17.07 | 1.45 | 3.91 | 1.52 | 19 | 3.07 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 18.54 | 0.21 | (1.62 | ) | (1.41 | ) | (0.27 | ) | — | — | (0.27 | ) | 16.86 | 1.45 | 3.59 | 1.20 | 49 | (7.77 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Carillon Cougar Tactical Allocation Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 15.73 | 0.06 | 0.47 | 0.53 | (0.08 | ) | (0.50 | ) | — | (0.58 | ) | 15.68 | 1.17 | 2.44 | 0.75 | 99 | 3.76 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 16.05 | 0.13 | (0.05 | ) | 0.08 | (0.11 | ) | (0.29 | ) | — | (0.40 | ) | 15.73 | 1.17 | 2.62 | 0.79 | 88 | 0.44 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 15.52 | (— | ) | 0.46 | 0.46 | (0.03 | ) | (0.50 | ) | — | (0.53 | ) | 15.45 | 1.92 | 3.21 | (— | ) | 99 | 3.31 | 2 | |||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 15.87 | — | (d) | (0.03 | ) | (0.03 | ) | (0.03 | ) | (0.29 | ) | — | (0.32 | ) | 15.52 | 1.92 | 3.40 | 0.02 | 88 | (0.29 | ) | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 15.76 | 0.08 | 0.46 | 0.54 | (0.13 | ) | (0.50 | ) | — | (0.63 | ) | 15.67 | 0.87 | 2.18 | 1.08 | 99 | 3.83 | 16 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 16.09 | 0.17 | (0.04 | ) | 0.13 | (0.17 | ) | (0.29 | ) | — | (0.46 | ) | 15.76 | 0.87 | 2.42 | 1.03 | 88 | 0.74 | 20 | ||||||||||||||||||||||||||||||||||||||||||||
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. | 33 |
Table of Contents
Financial Highlights
Fiscal period | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | $ 15.70 | $ 0.04 | $ 0.46 | $ 0.50 | $ | (0.04 | ) | $ | (0.50 | ) | $ — | $ | (0.54 | ) | $ 15.66 | 1.42 | 3.26 | 0.50 | 99 | 3.55 | $ 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 16.03 | 0.09 | (0.04 | ) | 0.05 | (0.09 | ) | (0.29 | ) | — | (0.38 | ) | 15.70 | 1.42 | 3.49 | 0.52 | 88 | 0.21 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 15.77 | 0.08 | 0.46 | 0.54 | (0.12 | ) | (0.50 | ) | — | (0.62 | ) | 15.69 | 0.87 | 2.41 | 1.05 | 99 | 3.86 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 16.09 | 0.18 | (0.05 | ) | 0.13 | (0.16 | ) | (0.29 | ) | — | (0.45 | ) | 15.77 | 0.87 | 2.60 | 1.07 | 88 | 0.76 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 15.79 | 0.09 | 0.46 | 0.55 | (0.14 | ) | (0.50 | ) | — | (0.64 | ) | 15.70 | 0.77 | 2.71 | 1.15 | 99 | 3.90 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 16.12 | 0.19 | (0.05 | ) | 0.14 | (0.18 | ) | (0.29 | ) | — | (0.47 | ) | 15.79 | 0.77 | 2.92 | 1.17 | 88 | 0.82 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 15.71 | 0.06 | 0.46 | 0.52 | (0.08 | ) | (0.50 | ) | — | (0.58 | ) | 15.65 | 1.17 | 3.08 | 0.74 | 99 | 3.69 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 16.11 | 0.13 | (0.06 | ) | 0.07 | (0.18 | ) | (0.29 | ) | — | (0.47 | ) | 15.71 | 1.17 | 3.32 | 0.82 | 88 | 0.34 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Growth & Income Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 21.44 | 0.22 | 1.17 | 1.39 | (0.20 | ) | (1.50 | ) | — | (1.70 | ) | 21.13 | 0.97 | 0.97 | 2.21 | 7 | 7.57 | 163 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 20.39 | 0.40 | 1.57 | 1.97 | (0.42 | ) | (0.50 | ) | — | (0.92 | ) | 21.44 | 0.98 | 0.98 | 1.91 | 10 | 9.76 | 147 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 20.52 | 0.14 | 1.12 | 1.26 | (0.13 | ) | (1.50 | ) | — | (1.63 | ) | 20.15 | 1.72 | 1.72 | 1.46 | 7 | 7.20 | 135 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 19.54 | 0.24 | 1.49 | 1.73 | (0.25 | ) | (0.50 | ) | — | (0.75 | ) | 20.52 | 1.73 | 1.73 | 1.16 | 10 | 8.94 | 130 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class I* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 21.39 | 0.25 | 1.16 | 1.41 | (0.23 | ) | (1.50 | ) | — | (1.73 | ) | 21.07 | 0.69 | 0.69 | 2.46 | 7 | 7.70 | 452 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 20.34 | 0.46 | 1.56 | 2.02 | (0.47 | ) | (0.50 | ) | — | (0.97 | ) | 21.39 | 0.72 | 0.72 | 2.16 | 10 | 10.06 | 272 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 21.35 | 0.19 | 1.17 | 1.36 | (0.17 | ) | (1.50 | ) | — | (1.67 | ) | 21.04 | 1.29 | 1.29 | 1.89 | 7 | 7.43 | 2 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 20.30 | 0.33 | 1.56 | 1.89 | (0.34 | ) | (0.50 | ) | — | (0.84 | ) | 21.35 | 1.31 | 1.31 | 1.59 | 10 | 9.40 | 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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-5* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 21.41 | 0.28 | 1.14 | 1.42 | (0.23 | ) | (1.50 | ) | — | (1.73 | ) | 21.10 | 0.67 | 0.67 | 2.73 | 7 | 7.73 | 3 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 20.36 | 0.45 | 1.56 | 2.01 | (0.46 | ) | (0.50 | ) | — | (0.96 | ) | 21.41 | 0.78 | 0.78 | 2.10 | 10 | 9.99 | 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 |
34 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Financial Highlights
Fiscal period | 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* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | $ 21.34 | $ 0.26 | $ 1.16 | $ 1.42 | $ (0.24 | ) | $ (1.50 | ) | $ — | $ (1.74 | ) | $ 21.02 | 0.63 | 0.63 | 2.54 | 7 | 7.75 | $ 47 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 20.30 | 0.47 | 1.56 | 2.03 | (0.49 | ) | (0.50 | ) | — | (0.99 | ) | 21.34 | 0.64 | 0.64 | 2.24 | 10 | 10.12 | 42 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class Y* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 21.35 | 0.21 | 1.17 | 1.38 | (0.19 | ) | (1.50 | ) | — | (1.69 | ) | 21.04 | 1.07 | 1.01 | 2.09 | 7 | 7.55 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 20.48 | 0.28 | 1.49 | 1.77 | (0.40 | ) | (0.50 | ) | — | (0.90 | ) | 21.35 | 1.25 | 1.43 | 1.35 | 10 | 8.74 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Mid Cap Growth Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 56.19 | (0.11 | ) | 7.31 | 7.20 | — | (1.50 | ) | — | (1.50 | ) | 61.89 | 1.05 | 1.05 | (0.38 | ) | 10 | 13.52 | 753 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 56.41 | (0.28 | ) | 3.06 | 2.78 | — | (3.00 | ) | — | (3.00 | ) | 56.19 | 1.05 | 1.05 | (0.46 | ) | 44 | 4.75 | 688 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 44.61 | (0.23 | ) | 5.71 | 5.48 | — | (1.50 | ) | — | (1.50 | ) | 48.59 | 1.74 | 1.74 | (1.07 | ) | 10 | 13.16 | 145 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 45.67 | (0.55 | ) | 2.49 | 1.94 | — | (3.00 | ) | — | (3.00 | ) | 44.61 | 1.74 | 1.74 | (1.14 | ) | 44 | 4.00 | 147 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 59.38 | (0.02 | ) | 7.76 | 7.74 | — | (1.50 | ) | — | (1.50 | ) | 65.62 | 0.74 | 0.74 | (0.07 | ) | 10 | 13.71 | 1,295 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 59.29 | (0.10 | ) | 3.19 | 3.09 | — | (3.00 | ) | — | (3.00 | ) | 59.38 | 0.75 | 0.75 | (0.16 | ) | 44 | 5.05 | 1,134 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 44.30 | (0.11 | ) | 15.10 | 14.99 | — | (d) | — | — | — | (d) | 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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 54.42 | (0.17 | ) | 7.06 | 6.89 | — | (1.50 | ) | — | (1.50 | ) | 59.81 | 1.30 | 1.30 | (0.64 | ) | 10 | 13.39 | 47 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 54.88 | (0.42 | ) | 2.96 | 2.54 | — | (3.00 | ) | — | (3.00 | ) | 54.42 | 1.32 | 1.32 | (0.72 | ) | 44 | 4.43 | 35 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 59.22 | (0.02 | ) | 7.74 | 7.72 | — | (1.50 | ) | — | (1.50 | ) | 65.44 | 0.74 | 0.74 | (0.08 | ) | 10 | 13.71 | 780 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 59.14 | (0.11 | ) | 3.19 | 3.08 | — | (3.00 | ) | — | (3.00 | ) | 59.22 | 0.75 | 0.75 | (0.18 | ) | 44 | 5.04 | 648 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/16 | 10/31/17 | 44.19 | (0.11 | ) | 15.06 | 14.95 | — | (d) | — | — | — | (d) | 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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 59.78 | — | (d) | 7.82 | 7.82 | — | (1.50 | ) | — | (1.50 | ) | 66.10 | 0.65 | 0.65 | 0.01 | 10 | 13.75 | 2,435 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 59.62 | (0.06 | ) | 3.22 | 3.16 | — | (3.00 | ) | — | (3.00 | ) | 59.78 | 0.66 | 0.66 | (0.09 | ) | 44 | 5.14 | 1,636 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 59.14 | (0.10 | ) | 7.74 | 7.64 | — | (1.50 | ) | — | (1.50 | ) | 65.28 | 0.93 | 0.93 | (0.33 | ) | 10 | 13.59 | 2 | ||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 60.71 | (0.44 | ) | 1.87 | 1.43 | — | (3.00 | ) | — | (3.00 | ) | 59.14 | 1.13 | 1.13 | (0.72 | ) | 44 | 2.18 | 0 |
The accompanying notes are an integral part of the financial statements. | 35 |
Table of Contents
Financial Highlights
Fiscal period | 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 |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | $ 59.15 | $ | (0.14 | ) | $ 3.24 | $ 3.10 | $ — | $ (10.99) | $ — | $ (10.99) | $ 51.26 | 1.08 | 1.08 | (0.57 | ) | 7 | 10.15 | $ 507 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 62.31 | (0.40 | ) | 2.07 | 1.67 | — | (4.83) | — | (4.83) | 59.15 | 1.05 | 1.05 | (0.63 | ) | 35 | 2.61 | 544 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class C* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 43.65 | (0.21 | ) | 1.60 | 1.39 | — | (10.99) | — | (10.99) | 34.05 | 1.77 | 1.77 | (1.25 | ) | 7 | 9.75 | 88 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 47.51 | (0.62 | ) | 1.59 | 0.97 | — | (4.83) | — | (4.83) | 43.65 | 1.75 | 1.75 | (1.31 | ) | 35 | 1.89 | 111 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class I* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 62.28 | (0.07 | ) | 3.58 | 3.51 | — | (10.99) | — | (10.99) | 54.80 | 0.77 | 0.77 | (0.25 | ) | 7 | 10.32 | 1,254 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 65.18 | (0.22 | ) | 2.15 | 1.93 | — | (4.83) | — | (4.83) | 62.28 | 0.75 | 0.75 | (0.33 | ) | 35 | 2.91 | 1,369 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 57.14 | (0.20 | ) | 3.03 | 2.83 | — | (10.99) | — | (10.99) | 48.98 | 1.34 | 1.34 | (0.82 | ) | 7 | 10.02 | 82 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 60.51 | (0.55 | ) | 2.01 | 1.46 | — | (4.83) | — | (4.83) | 57.14 | 1.32 | 1.32 | (0.90 | ) | 35 | 2.32 | 85 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-5* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 62.56 | (0.07 | ) | 3.60 | 3.53 | — | (10.99) | — | (10.99) | 55.10 | 0.77 | 0.77 | (0.26 | ) | 7 | 10.31 | 402 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 65.45 | (0.22 | ) | 2.16 | 1.94 | — | (4.83) | — | (4.83) | 62.56 | 0.75 | 0.75 | (0.33 | ) | 35 | 2.92 | 441 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-6* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 63.11 | (0.04 | ) | 3.67 | 3.63 | — | (10.99) | — | (10.99) | 55.75 | 0.65 | 0.65 | (0.15 | ) | 7 | 10.39 | 2,381 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 65.92 | (0.16 | ) | 2.18 | 2.02 | — | (4.83) | — | (4.83) | 63.11 | 0.65 | 0.65 | (0.24 | ) | 35 | 3.02 | 2,141 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class Y* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 62.03 | (0.14 | ) | 3.52 | 3.38 | — | (10.99) | — | (10.99) | 54.42 | 1.15 | 1.23 | (0.51 | ) | 7 | 10.13 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 65.89 | (0.50 | ) | 1.47 | 0.97 | — | (4.83) | — | (4.83) | 62.03 | 1.12 | 1.12 | (0.77 | ) | 35 | 1.40 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
Carillon Scout International Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 19.02 | 0.16 | 1.12 | 1.28 | (0.66 | ) | (1.28) | — | (1.94) | 18.36 | 1.42 | 1.42 | 1.83 | 10 | 8.45 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 25.05 | 0.21 | (2.26 | ) | (2.05 | ) | (0.22 | ) | (3.76) | — | (3.98) | 19.02 | 1.31 | 1.31 | 1.05 | 13 | (9.90 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Class C* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 18.89 | 0.08 | 1.15 | 1.23 | (0.50 | ) | (1.28) | — | (1.78) | 18.34 | 2.17 | 2.15 | 0.95 | 10 | 8.10 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 25.05 | 0.18 | (2.38 | ) | (2.20 | ) | (0.20 | ) | (3.76) | — | (3.96) | 18.89 | 2.20 | 2.23 | 0.87 | 13 | (10.59 | ) | 0 |
36 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Financial Highlights
Fiscal period | 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 International Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | $ 19.07 | $ 0.14 | $ 1.18 | $ 1.32 | $ (0.66 | ) | $ (1.28 | ) | $ — | $ (1.94 | ) | $ 18.45 | 1.12 | 1.12 | 1.61 | 10 | 8.64 | $ 770 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 25.18 | 0.38 | (2.51 | ) | (2.13 | ) | (0.22 | ) | (3.76 | ) | — | (3.98 | ) | 19.07 | 1.06 | 1.06 | 1.73 | 13 | (10.12 | ) | 821 | ||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 18.97 | 0.10 | 1.17 | 1.27 | (0.52 | ) | (1.28 | ) | — | (1.80 | ) | 18.44 | 1.70 | 2.20 | 1.10 | 10 | 8.30 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 25.05 | 0.23 | (2.33 | ) | (2.10 | ) | (0.22 | ) | (3.76 | ) | — | (3.98 | ) | 18.97 | 1.70 | 2.16 | 1.14 | 13 | (10.16 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
Class R-5* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 19.06 | 0.14 | 1.17 | 1.31 | (0.64 | ) | (1.28 | ) | — | (1.92 | ) | 18.45 | 1.15 | 1.70 | 1.65 | 10 | 8.56 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 25.05 | 0.34 | (2.34 | ) | (2.00 | ) | (0.23 | ) | (3.76 | ) | — | (3.99 | ) | 19.06 | 1.15 | 1.66 | 1.69 | 13 | (9.68 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
Class R-6* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 19.08 | 0.16 | 1.16 | 1.32 | (0.69 | ) | (1.28 | ) | — | (1.97 | ) | 18.43 | 1.02 | 1.02 | 1.83 | 10 | 8.67 | 3 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 25.05 | 0.32 | (2.30 | ) | (1.98 | ) | (0.23 | ) | (3.76 | ) | — | (3.99 | ) | 19.08 | 0.99 | 0.99 | 1.60 | 13 | (9.59 | ) | 3 | ||||||||||||||||||||||||||||||||||||||||||
Class Y* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 19.01 | 0.12 | 1.17 | 1.29 | (0.58 | ) | (1.28 | ) | — | (1.86 | ) | 18.44 | 1.45 | 2.23 | 1.37 | 10 | 8.43 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 25.05 | 0.28 | (2.34 | ) | (2.06 | ) | (0.22 | ) | (3.76 | ) | — | (3.98 | ) | 19.01 | 1.45 | 2.16 | 1.39 | 13 | (9.94 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
Carillon Scout Mid Cap Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 18.37 | 0.07 | 1.55 | 1.62 | (0.09 | ) | (1.19 | ) | — | (1.28 | ) | 18.71 | 1.17 | 1.17 | 0.82 | 74 | 10.25 | 19 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 20.18 | 0.05 | (0.30 | ) | (0.25 | ) | (0.02 | ) | (1.54 | ) | — | (1.56 | ) | 18.37 | 1.19 | 1.19 | 0.28 | 106 | (1.51 | ) | 7 | ||||||||||||||||||||||||||||||||||||||||||
Class C* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 18.26 | — | (d) | 1.54 | 1.54 | (0.03 | ) | (1.19 | ) | — | (1.22 | ) | 18.58 | 1.94 | 1.94 | 0.05 | 74 | 9.77 | 18 | ||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 20.18 | (0.09 | ) | (0.28 | ) | (0.37 | ) | (0.01 | ) | (1.54 | ) | — | (1.55 | ) | 18.26 | 1.94 | 1.94 | (0.47 | ) | 106 | (2.16 | ) | 9 | ||||||||||||||||||||||||||||||||||||||||
Class I* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 18.41 | 0.09 | 1.55 | 1.64 | (0.09 | ) | (1.19 | ) | — | (1.28 | ) | 18.77 | 0.97 | 0.97 | 1.03 | 74 | 10.30 | 2,776 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 19.77 | 0.08 | 0.12 | 0.20 | (0.02 | ) | (1.54 | ) | — | (1.56 | ) | 18.41 | 0.97 | 0.97 | 0.40 | 106 | 0.74 | 2,420 | |||||||||||||||||||||||||||||||||||||||||||||
07/01/17 | 10/31/17 | 18.11 | — | (d) | 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 | — | (d) | 3.99 | 3.99 | — | (d) | (0.95 | ) | — | (0.95 | ) | 18.79 | 1.02 | 1.02 | 0.01 | 134 | 25.75 | 2,538 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-3* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 18.32 | 0.04 | 1.55 | 1.59 | (0.06 | ) | (1.19 | ) | — | (1.25 | ) | 18.66 | 1.49 | 1.49 | 0.50 | 74 | 10.05 | 2 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 20.18 | 0.01 | (0.32 | ) | (0.31 | ) | (0.01 | ) | (1.54 | ) | — | (1.55 | ) | 18.32 | 1.44 | 1.44 | 0.04 | 106 | (1.83 | ) | 2 | ||||||||||||||||||||||||||||||||||||||||||
Class R-5* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 18.35 | 0.09 | 1.56 | 1.65 | (0.11 | ) | (1.19 | ) | — | (1.30 | ) | 18.70 | 0.93 | 0.93 | 1.07 | 74 | 10.42 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 20.18 | 0.10 | (0.36 | ) | (0.26 | ) | (0.03 | ) | (1.54 | ) | — | (1.57 | ) | 18.35 | 0.99 | 0.99 | 0.53 | 106 | (1.62 | ) | 1 | ||||||||||||||||||||||||||||||||||||||||||
Class R-6* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 18.41 | 0.10 | 1.55 | 1.65 | (0.11 | ) | (1.19 | ) | — | (1.30 | ) | 18.76 | 0.88 | 0.88 | 1.08 | 74 | 10.43 | 81 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 20.18 | 0.12 | (0.32 | ) | (0.20 | ) | (0.03 | ) | (1.54 | ) | — | (1.57 | ) | 18.41 | 0.90 | 0.90 | 0.62 | 106 | (1.29 | ) | 34 | ||||||||||||||||||||||||||||||||||||||||||
Class Y* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 18.37 | 0.07 | 1.55 | 1.62 | (0.10 | ) | (1.19 | ) | — | (1.29 | ) | 18.70 | 1.15 | 1.15 | 0.84 | 74 | 10.21 | 22 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 20.18 | 0.07 | (0.32 | ) | (0.25 | ) | (0.02 | ) | (1.54 | ) | — | (1.56 | ) | 18.37 | 1.19 | 1.19 | 0.36 | 106 | (1.51 | ) | 2 | ||||||||||||||||||||||||||||||||||||||||||
Carillon Scout Small Cap Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 27.10 | 0.01 | 2.63 | 2.64 | — | (0.06 | ) | — | (0.06 | ) | 29.68 | 1.18 | 1.18 | 0.04 | 9 | 9.78 | 14 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 29.63 | (0.26 | ) | 2.68 | 2.42 | — | (4.95 | ) | — | (4.95 | ) | 27.10 | 1.23 | 1.23 | (0.95 | ) | 22 | 8.00 | 12 | ||||||||||||||||||||||||||||||||||||||||||||
Class C* |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 26.89 | (0.08 | ) | 2.59 | 2.51 | — | (0.06 | ) | — | (0.06 | ) | 29.34 | 1.95 | 1.95 | (0.62 | ) | 9 | 9.37 | 10 | ||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 29.63 | (0.47 | ) | 2.68 | 2.21 | — | (4.95 | ) | — | (4.95 | ) | 26.89 | 1.97 | 1.97 | (1.69 | ) | 22 | 7.21 | 14 |
The accompanying notes are an integral part of the financial statements. | 37 |
Table of Contents
Financial Highlights
Fiscal period | 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 Small Cap Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | $27.17 | $0.04 | $2.65 | $2.69 | $ — | $ | (0.06 | ) | $ — | $ | (0.06 | ) | $29.80 | 0.95 | 0.93 | 0.26 | 9 | 9.93 | $317 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 29.33 | (0.14 | ) | 2.93 | 2.79 | — | (4.95 | ) | — | (4.95 | ) | 27.17 | 0.95 | 0.97 | (0.49 | ) | 22 | 9.36 | 287 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 27.02 | (0.03 | ) | 2.62 | 2.59 | — | (0.06 | ) | — | (0.06 | ) | 29.55 | 1.50 | 1.55 | (0.24 | ) | 9 | 9.62 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 29.63 | (0.33 | ) | 2.67 | 2.34 | — | (4.95 | ) | — | (4.95 | ) | 27.02 | 1.50 | 1.67 | (1.20 | ) | 22 | 7.70 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 27.17 | 0.03 | 2.66 | 2.69 | — | (0.06 | ) | — | (0.06 | ) | 29.80 | 0.95 | 0.98 | 0.25 | 9 | 9.93 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 29.63 | (0.17 | ) | 2.66 | 2.49 | — | (4.95 | ) | — | (4.95 | ) | 27.17 | 0.95 | 1.32 | (0.60 | ) | 22 | 8.26 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 27.20 | 0.05 | 2.66 | 2.71 | — | (0.06 | ) | — | (0.06 | ) | 29.85 | 0.83 | 0.83 | 0.34 | 9 | 10.00 | 7 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 29.63 | (0.13 | ) | 2.65 | 2.52 | — | (4.95 | ) | — | (4.95 | ) | 27.20 | 0.85 | 0.86 | (0.47 | ) | 22 | 8.37 | 5 | ||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 27.09 | (0.01 | ) | 2.64 | 2.63 | — | (0.06 | ) | — | (0.06 | ) | 29.66 | 1.25 | 1.17 | (0.04 | ) | 9 | 9.74 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 29.63 | (0.24 | ) | 2.65 | 2.41 | — | (4.95 | ) | — | (4.95 | ) | 27.09 | 1.25 | 1.59 | (0.87 | ) | 22 | 7.96 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
Carillon Reams Core Bond Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.03 | 0.11 | 0.49 | 0.60 | (0.11 | ) | — | — | (0.11 | ) | 11.52 | 0.80 | 1.16 | 2.02 | 133 | 5.51 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 11.42 | 0.20 | (0.40 | ) | (0.20 | ) | (0.19 | ) | — | — | (0.19 | ) | 11.03 | 0.80 | 1.16 | 1.88 | 278 | (1.78 | ) | 1 | |||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.02 | 0.07 | 0.49 | 0.56 | (0.07 | ) | — | — | (0.07 | ) | 11.51 | 1.55 | 1.93 | 1.22 | 133 | 5.07 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 11.42 | 0.12 | (0.40 | ) | (0.28 | ) | (0.12 | ) | — | — | (0.12 | ) | 11.02 | 1.55 | 1.99 | 1.11 | 278 | (2.43 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.04 | 0.14 | 0.49 | 0.63 | (0.14 | ) | — | — | (0.14 | ) | 11.53 | 0.40 | 0.92 | 2.42 | 133 | 5.71 | 102 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 11.40 | 0.24 | (0.38 | ) | (0.14 | ) | (0.22 | ) | — | — | (0.22 | ) | 11.04 | 0.40 | 0.87 | 2.12 | 278 | (1.23 | ) | 105 | |||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.04 | 0.10 | 0.49 | 0.59 | (0.10 | ) | — | — | (0.10 | ) | 11.53 | 1.05 | 1.96 | 1.76 | 133 | 5.37 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 11.42 | 0.16 | (0.38 | ) | (0.22 | ) | (0.16 | ) | — | — | (0.16 | ) | 11.04 | 1.05 | 2.02 | 1.51 | 278 | (1.96 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.05 | 0.13 | 0.49 | 0.62 | (0.13 | ) | — | — | (0.13 | ) | 11.54 | 0.50 | 1.45 | 2.31 | 133 | 5.65 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 11.42 | 0.22 | (0.38 | ) | (0.16 | ) | (0.21 | ) | — | — | (0.21 | ) | 11.05 | 0.50 | 1.52 | 2.06 | 278 | (1.40 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.05 | 0.14 | 0.49 | 0.63 | (0.14 | ) | — | — | (0.14 | ) | 11.54 | 0.40 | 1.45 | 2.41 | 133 | 5.70 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 11.42 | 0.23 | (0.38 | ) | �� | (0.15 | ) | (0.22 | ) | — | — | (0.22 | ) | 11.05 | 0.40 | 1.52 | 2.16 | 278 | (1.32 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.04 | 0.11 | 0.49 | 0.60 | (0.11 | ) | — | — | (0.11 | ) | 11.53 | 0.80 | 1.25 | 2.02 | 133 | 5.50 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 11.40 | 0.19 | (0.37 | ) | (0.18 | ) | (0.18 | ) | — | — | (0.18 | ) | 11.04 | 0.80 | 1.19 | 1.71 | 278 | (1.60 | ) | 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 |
38 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
Financial Highlights
Fiscal period | 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 Plus Bond Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | $ 30.44 | $ 0.31 | $ 1.51 | $ 1.82 | $ (0.30 | ) | $ — | $ — | $ | (0.30 | ) | $ 31.96 | 0.80 | 0.96 | 1.98 | 130 | 6.01 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 31.76 | 0.54 | (1.36 | ) | (0.82 | ) | (0.50 | ) | — | — | (0.50 | ) | 30.44 | 0.80 | 0.97 | 1.85 | 292 | (2.60 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 30.41 | 0.19 | 1.52 | 1.71 | (0.20 | ) | — | — | (0.20 | ) | 31.92 | 1.55 | 1.73 | 1.22 | 130 | 5.65 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 31.76 | 0.32 | (1.36 | ) | (1.04 | ) | (0.31 | ) | — | — | (0.31 | ) | 30.41 | 1.55 | 1.85 | 1.09 | 292 | (3.31 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 30.46 | �� | 0.37 | 1.51 | 1.88 | (0.36 | ) | — | — | (0.36 | ) | 31.98 | 0.40 | 0.64 | 2.38 | 130 | 6.22 | 613 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 31.74 | 0.66 | (1.34 | ) | (0.68 | ) | (0.60 | ) | — | — | (0.60 | ) | 30.46 | 0.40 | 0.60 | 2.11 | 292 | (2.17 | ) | 607 | |||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 30.44 | 0.27 | 1.52 | 1.79 | (0.26 | ) | — | — | (0.26 | ) | 31.97 | 1.05 | 1.70 | 1.73 | 130 | 5.91 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 31.76 | 0.45 | (1.34 | ) | (0.89 | ) | (0.43 | ) | — | — | (0.43 | ) | 30.44 | 1.05 | 1.77 | 1.51 | 292 | (2.84 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 30.46 | 0.35 | 1.52 | 1.87 | (0.35 | ) | — | — | (0.35 | ) | 31.98 | 0.50 | 1.20 | 2.28 | 130 | 6.16 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 31.76 | 0.61 | (1.34 | ) | (0.73 | ) | (0.57 | ) | — | — | (0.57 | ) | 30.46 | 0.50 | 1.27 | 2.07 | 292 | (2.31 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 30.46 | 0.37 | 1.51 | 1.88 | (0.36 | ) | — | — | (0.36 | ) | 31.98 | 0.40 | 1.20 | 2.38 | 130 | 6.22 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 31.76 | 0.64 | (1.34 | ) | (0.70 | ) | (0.60 | ) | — | — | (0.60 | ) | 30.46 | 0.40 | 1.27 | 2.17 | 292 | (2.23 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 30.44 | 0.31 | 1.51 | 1.82 | (0.30 | ) | — | — | (0.30 | ) | 31.96 | 0.80 | 1.00 | 1.98 | 130 | 6.01 | 15 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 31.73 | 0.53 | (1.34 | ) | (0.81 | ) | (0.48 | ) | — | — | (0.48 | ) | 30.44 | 0.80 | 0.96 | 1.70 | 292 | (2.56 | ) | 17 | |||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Carillon Reams Unconstrained Bond Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.45 | 0.10 | 0.41 | 0.51 | (0.11 | ) | — | — | (0.11 | ) | 11.85 | 0.80 | 1.09 | 1.78 | 84 | 4.47 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 11.83 | 0.21 | (0.41 | ) | (0.20 | ) | (0.18 | ) | — | — | (0.18 | ) | 11.45 | 0.80 | 1.20 | 1.85 | 139 | (1.71 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.42 | 0.06 | 0.42 | 0.48 | (0.07 | ) | — | — | (0.07 | ) | 11.83 | 1.55 | 2.04 | 1.05 | 84 | 4.19 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 11.83 | 0.11 | (0.41 | ) | (0.30 | ) | (0.11 | ) | — | — | (0.11 | ) | 11.42 | 1.55 | 2.42 | 0.99 | 139 | (2.55 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.43 | 0.12 | 0.41 | 0.53 | (0.12 | ) | — | — | (0.12 | ) | 11.84 | 0.50 | 0.85 | 2.11 | 84 | 4.70 | 1,094 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 11.85 | 0.22 | (0.43 | ) | (0.21 | ) | (0.21 | ) | — | — | (0.21 | ) | 11.43 | 0.50 | 0.83 | 1.90 | 139 | (1.79 | ) | 1,183 | |||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.43 | 0.09 | 0.40 | 0.49 | (0.09 | ) | — | — | (0.09 | ) | 11.83 | 1.05 | 1.96 | 1.56 | 84 | 4.33 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 11.83 | 0.15 | (0.39 | ) | (0.24 | ) | (0.16 | ) | — | — | (0.16 | ) | 11.43 | 1.05 | 2.25 | 1.40 | 139 | (2.09 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.43 | 0.12 | 0.41 | 0.53 | (0.12 | ) | — | — | (0.12 | ) | 11.84 | 0.50 | 1.39 | 2.11 | 84 | 4.70 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 11.83 | 0.21 | (0.40 | ) | (0.19 | ) | (0.21 | ) | — | — | (0.21 | ) | 11.43 | 0.50 | 1.45 | 1.95 | 139 | (1.62 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | 11.43 | 0.13 | 0.41 | 0.54 | (0.13 | ) | — | — | (0.13 | ) | 11.84 | 0.40 | 0.76 | 2.20 | 84 | 4.75 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||
11/20/17 | 10/31/18 | 11.83 | 0.25 | (0.43 | ) | (0.18 | ) | (0.22 | ) | — | — | (0.22 | ) | 11.43 | 0.40 | 0.76 | 2.32 | 139 | (1.53 | ) | 29 |
The accompanying notes are an integral part of the financial statements. | 39 |
Table of Contents
Financial Highlights
Fiscal period | 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 Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 04/30/19 | $ 11.49 | $ 0.10 | $ 0.42 | $ 0.52 | $ | (0.11 | ) | $ — | $ — | $ | (0.11 | ) | $ 11.90 | 0.80 | 1.21 | 1.81 | 84 | 4.51 | $ 25 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/17 | 10/31/18 | 11.90 | 0.18 | (0.41 | ) | (0.23 | ) | (0.18 | ) | — | — | (0.18 | ) | 11.49 | 0.80 | 1.14 | 1.58 | 139 | (1.97 | ) | 37 | |||||||||||||||||||||||||||||||||||||||||||
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 | — | (d) | 0.01 | (0.01 | ) | (0.07 | ) | — | (0.08 | ) | 11.64 | 0.78 | 1.12 | 0.12 | 422 | 0.12 | 555 |
* Per share amounts have been calculated using the daily average share method. The data for fiscal periods ending after October 31, 2018 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 eitherfront-end or contingent deferred sales charges.
(d) Per share amount is less than $0.005.
40 | The accompanying notes are an integral part of the financial statements. |
Table of Contents
(UNAUDITED) | 04.30.2019 |
NOTE 1 | Organization and investment objective | 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 anopen-end diversified management investment company. The Trust offers shares in the following series (each a “Fund” and collectively the “Funds”), each of which is advised by Carillon Tower Advisers, Inc. (“Carillon Tower” or “Manager”):
• | Carillon ClariVest Capital Appreciation Fund (“Capital Appreciation Fund”) seeks long-term capital appreciation, |
• | Carillon ClariVest International Stock Fund (“International Stock Fund”) seeks capital appreciation, |
• | Carillon Cougar Tactical Allocation Fund* (“Tactical Allocation Fund”) seeks long-term capital appreciation, |
• | Carillon Eagle Growth & Income Fund (“Growth & Income Fund”) primarily seeks long-term capital appreciation and, secondarily, seeks current income, |
• | Carillon Eagle Mid Cap Growth Fund (“Mid Cap Growth Fund”) seeks long-term capital appreciation, |
• | Carillon Eagle Small Cap Growth Fund (“Small Cap Growth Fund”) seeks long-term capital appreciation, |
• | Carillon Scout International Fund (“International Fund”) seeks long-term growth of capital and income, |
• | Carillon Scout Mid Cap Fund (“Mid Cap Fund”) seeks long-term growth of capital, |
• | Carillon Scout Small Cap Fund (“Small Cap Fund”) seeks long-term growth of capital, |
• | Carillon Reams Core Bond Fund (“Core Bond Fund”) seeks a high level of total return consistent with the preservation of capital, |
• | Carillon Reams Core Plus Bond Fund (“Core Plus Bond Fund”) seeks a high level of total return consistent with the preservation of capital, and |
• | Carillon Reams Unconstrained Bond Fund (“Unconstrained Bond Fund”) seeks to maximize total return consistent with the preservation of capital. |
* Tactical Allocation Fund is a “fund of funds” that seeks to achieve its investment objective by investing its assets primarily in exchange-traded funds (“ETFs”).
Class offerings | As of April 30, 2019, 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 maximumfront-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 maximumfront-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 less than one year after purchase. |
• | Class I,Class R-3,Class R-5,Class R-6 and Class Y shares are each sold without afront-end sales charge or a CDSC. |
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 that may cause the last market quotation to be unreliable 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 oversight by the Trust’s 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 valuesmall-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.
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Pursuant to the Procedures, the Board has delegated theday-to-day responsibility for applying and administering the Procedures to a valuation committee (“Valuation Committee”), comprised of certain officers of the Trust 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 thenext-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 each 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 look-back 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 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 the trading of a particular security ends in a foreign market 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, it will price the security 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. Fund 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 portfolio 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), 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 and appropriate methodologies that have been considered by the Board such asinstitution-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, 2019, only the Core Plus Bond Fund and Unconstrained Bond Fund held futures. None of the Funds held options during the period ended April 30, 2019. |
• | 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, 2019, only the Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund held credit default swaps. |
• | Investment companies and exchange-traded funds (ETFs) | Investments in otheropen-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 inclosed-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.
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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. 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, 2019:
Level 1 | Level 2 | Level 3 | ||||||||||
Capital Appreciation Fund | ||||||||||||
Common stocks (a) | $546,277,499 | $— | $— | |||||||||
Total investment portfolio | $546,277,499 | $— | $— | |||||||||
International Stock Fund | ||||||||||||
Common stocks (a): | ||||||||||||
Australia | $— | $252,188 | $— | |||||||||
Belgium | — | 88,246 | — | |||||||||
Denmark | — | 221,032 | — | |||||||||
Finland | — | 139,119 | — | |||||||||
France | — | 1,538,983 | — | |||||||||
Germany | — | 767,399 | — | |||||||||
Hong Kong | — | 239,001 | — | |||||||||
Israel | 121,760 | 212,501 | — | |||||||||
Italy | — | 527,974 | — | |||||||||
Japan | — | 3,461,427 | — | |||||||||
Netherlands | 221,802 | 523,816 | — | |||||||||
Norway | — | 123,689 | — | |||||||||
Singapore | — | 34,159 | — | |||||||||
Spain | — | 317,129 | — | |||||||||
Sweden | — | 618,161 | — | |||||||||
Switzerland | 48,202 | 1,717,718 | — | |||||||||
United Kingdom | — | 2,205,258 | — | |||||||||
Preferred stocks: | ||||||||||||
Germany | — | 160,809 | — | |||||||||
Total investment portfolio | $391,764 | $13,148,609 | $— | |||||||||
Tactical Allocation Fund | ||||||||||||
Domestic exchange traded funds | $15,699,711 | $— | $— | |||||||||
Foreign exchange traded funds | 4,008,537 | — | — | |||||||||
Total investment portfolio | $19,708,248 | $— | $— | |||||||||
Growth & Income Fund | ||||||||||||
Common stocks (a) | $769,568,627 | $— | $— | |||||||||
Total investment portfolio | $769,568,627 | $— | $— | |||||||||
Mid Cap Growth Fund | ||||||||||||
Common stocks (a) | $5,360,776,922 | $— | $— | |||||||||
Total investment portfolio | $5,360,776,922 | $— | $— |
Level 1 | Level 2 | Level 3 | ||||||||||
Small Cap Growth Fund | ||||||||||||
Common stocks (a) | $4,636,021,957 | $— | $— | |||||||||
Total investment portfolio | $4,636,021,957 | $— | $— | |||||||||
International Fund | ||||||||||||
Common stocks (a): | ||||||||||||
Australia | $10,374,811 | $50,447,117 | $— | |||||||||
Canada | 9,328,163 | — | — | |||||||||
Denmark | 11,459,077 | — | — | |||||||||
France | — | 63,894,323 | — | |||||||||
Germany | 24,192,002 | 61,624,060 | — | |||||||||
Hong Kong | — | 12,865,680 | — | |||||||||
Ireland | 14,930,871 | 10,063,280 | — | |||||||||
Japan | — | 96,425,332 | — | |||||||||
Mexico | 28,793,644 | — | — | |||||||||
Norway | — | 13,420,681 | — | |||||||||
Singapore | — | 9,738,273 | — | |||||||||
South Africa | — | 7,418,296 | — | |||||||||
Spain | — | 14,197,781 | — | |||||||||
Sweden | — | 26,543,607 | — | |||||||||
Switzerland | 18,522,643 | 56,523,682 | — | |||||||||
Taiwan | — | 19,272,801 | — | |||||||||
Turkey | — | 23,184,598 | — | |||||||||
United Kingdom | 36,633,912 | 61,558,288 | — | |||||||||
United States | 36,432,858 | — | — | |||||||||
Preferred stocks: | ||||||||||||
Colombia | 10,617,268 | — | — | |||||||||
Germany | 12,125,703 | 17,746,976 | — | |||||||||
Total investment portfolio | $213,410,952 | $544,924,775 | $— | |||||||||
Mid Cap Fund | ||||||||||||
Common stocks (a) | $2,881,326,422 | $— | $— | |||||||||
Total investment portfolio | $2,881,326,422 | $— | $— | |||||||||
Small Cap Fund | ||||||||||||
Common stocks (a) | $346,547,023 | $— | $— | |||||||||
Total investment portfolio | $346,547,023 | $— | $— |
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Level 1 | Level 2 | Level 3 | ||||||||||
Core Bond Fund | ||||||||||||
Corporate bonds (a) | $— | $22,170,712 | $— | |||||||||
Mortgage and asset-backed securities | — | 39,732,911 | — | |||||||||
U.S. Treasuries | — | 47,515,020 | — | |||||||||
Total investment portfolio | $— | $109,418,643 | $— | |||||||||
Credit default swaps | $— | $241,502 | $— | |||||||||
Core Plus Bond Fund | ||||||||||||
Corporate bonds (a) | $— | $139,910,100 | $— | |||||||||
Mortgage and asset-backed securities | — | 199,700,158 | — | |||||||||
U.S. Treasuries | — | 330,224,430 | — | |||||||||
Total investment portfolio | $— | $669,834,688 | $— | |||||||||
Futures contracts - long (b) | $1,886,215 | $— | $— | |||||||||
Futures contracts - short (b) | $(1,905,136 | ) | $— | $— |
Level 1 | Level 2 | Level 3 | ||||||||||
Core Plus Bond Fund (cont’d) |
| |||||||||||
Credit default swaps | $— | $2,076,794 | $— | |||||||||
Unconstrained Bond Fund | ||||||||||||
Corporate bonds (a) | $— | $247,755,838 | $— | |||||||||
Mortgage and asset-backed securities | — | 212,942,476 | — | |||||||||
U.S. Treasuries | — | 659,072,728 | — | |||||||||
Total investment portfolio | $— | $1,119,771,042 | $— | |||||||||
Futures contracts - long (b) | $4,270,304 | $— | $— | |||||||||
Futures contracts - short (b) | $(6,261,610 | ) | $— | $— | ||||||||
Credit default swaps | $— | $3,831,695 | $— | |||||||||
(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, 2019. |
|
At April 30, 2019, the Funds did not hold any Level 3 investments.
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, 2019, 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 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 |
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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 aremarked-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.” Refer to Note 6 for additional information. |
• | 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 themarked-to-market value of the Futures. The account ismarked-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.” Refer to Note 6 for additional information. |
During the period ended April 30, 2019, the average ofmonth-end derivative positions (notional value in U.S. dollars) were as follows:
Credit Default Swap Contracts | Futures Contracts – Long | Futures Contracts – Short | ||||||||||
Core Bond Fund | $9,410,000 | $— | $— | |||||||||
Core Plus Bond Fund | 75,679,486 | 194,971,205 | (140,797,425 | ) | ||||||||
Unconstrained Bond Fund | 156,610,029 | 356,907,803 | (474,183,021 | ) |
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 intoto-be-announced securities. Ato-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 adopted by the Board equal to the value of the TBA, markedto-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’ fiscalyear-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, 2019, 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 theex-dividend date. Interest income is recorded on an accrual basis.
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Notes to Financial Statements
(UNAUDITED) | 04.30.2019 |
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 record 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. If a fund is involved in a reorganization wherein it acquires the net assets of another fund, or has its net assets acquired by another fund, a separate and additional distribution of net investment income and / or net realized gains may be made prior to such reorganization. Each Fund uses the identified cost method for determining realized gain or loss on investments for both financial and federal income tax reporting purposes.
Distributions made to shareholders from earnings were as follows:
Distributions from earnings | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | |||||||||||||||||||||||||
Capital Appreciation Fund | 11/1/18 to 4/30/19 | $14,814,793 | $2,225,036 | $17,013,818 | $121,423 | $617,839 | $3,552,644 | $842 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 10,158,703 | 5,182,715 | 7,279,691 | 80,730 | 195,042 | 2,575,449 | 619 | |||||||||||||||||||||||||
International Stock Fund | 11/1/18 to 4/30/19 | 62,730 | 6,585 | 143,217 | 10,790 | 55 | 2,790 | 527 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 54,124 | 28,696 | 115,789 | 7,995 | 45 | 177 | 145 | |||||||||||||||||||||||||
Tactical Allocation Fund | 11/1/18 to 4/30/19 | 63,410 | 72,560 | 832,642 | 389 | 1,386 | 464 | 420 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 38,585 | 36,455 | 369,140 | 262 | 978 | 333 | 289 | |||||||||||||||||||||||||
Growth & Income Fund | 11/1/18 to 4/30/19 | 11,766,328 | 10,413,393 | 24,071,881 | 148,018 | 57,216 | 3,501,021 | 5,549 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 6,621,319 | 5,933,158 | 11,688,591 | 90,673 | 20,226 | 1,918,067 | 561 | |||||||||||||||||||||||||
Mid Cap Growth Fund | 11/1/18 to 4/30/19 | 17,751,954 | 4,769,700 | 28,112,072 | 1,165,639 | 18,599,152 | 45,228,966 | 9,464 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 26,571,373 | 8,923,843 | 44,360,044 | 1,786,131 | 24,087,214 | 52,994,970 | 739 | |||||||||||||||||||||||||
Small Cap Growth Fund | 11/1/18 to 4/30/19 | 96,913,223 | 27,054,499 | 230,547,503 | 15,646,019 | 73,349,310 | 375,763,465 | 14,071 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 48,179,886 | 16,819,785 | 124,152,495 | 7,662,535 | 35,062,954 | 149,519,961 | 733 | |||||||||||||||||||||||||
International Fund | 11/1/18 to 4/30/19 | 39,756 | 6,071 | 78,820,675 | 851 | 906 | 280,424 | 932 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 1,591 | 1,583 | 177,675,550 | 1,588 | 1,594 | 1,594 | 1,591 | |||||||||||||||||||||||||
Mid Cap Fund | 11/1/18 to 4/30/19 | 691,969 | 704,996 | 169,659,120 | 105,258 | 50,544 | 2,868,920 | 179,981 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 3,347 | 1,837 | 138,752,902 | 770 | 775 | 775 | 1,848 | |||||||||||||||||||||||||
Small Cap Fund | 11/1/18 to 4/30/19 | 32,573 | 27,569 | 585,642 | 649 | 134 | 11,144 | 213 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 11,163 | 10,951 | 46,518,857 | 1,741 | 1,741 | 216,374 | 2,580 | |||||||||||||||||||||||||
Core Bond Fund | 11/1/18 to 4/30/19 | 7,891 | 3,082 | 1,249,075 | 89 | 117 | 122 | 17,556 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 5,814 | 2,454 | 2,264,998 | 139 | 187 | 195 | 33,740 | |||||||||||||||||||||||||
Core Plus Bond Fund | 11/1/18 to 4/30/19 | 2,194 | 1,715 | 7,174,943 | 84 | 112 | 117 | 155,577 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 2,399 | 1,317 | 13,013,527 | 135 | 182 | 190 | 354,295 | |||||||||||||||||||||||||
Unconstrained Bond Fund | 11/1/18 to 4/30/19 | 1,699 | 343 | 12,160,543 | 80 | 107 | 462,859 | 280,405 | ||||||||||||||||||||||||
11/1/17 to 10/31/18 | 1,119 | 253 | 25,119,317 | 132 | 179 | 290,370 | 820,029 |
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(UNAUDITED) | 04.30.2019 |
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 | During the period ended April 30, 2019, purchases and sales of investment securities (excluding short-term obligations) were as follows:
Capital Appreciation Fund | International Stock Fund | Tactical Allocation Fund | Growth & Income Fund | Mid Cap Growth Fund | Small Cap Growth Fund | |||||||||||||||||||
Purchases | $172,426,855 | $2,859,020 | $21,450,712 | $189,356,348 | $1,050,748,546 | $330,982,990 | ||||||||||||||||||
Sales | 120,761,796 | 6,373,066 | 25,323,720 | 45,251,981 | 488,608,899 | 793,111,059 | ||||||||||||||||||
International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | Core Plus Bond Fund | Unconstrained Bond Fund | |||||||||||||||||||
Purchases | $78,269,533 | $2,151,231,405 | $27,767,338 | $81,338,454 | $439,771,535 | $277,916,473 | ||||||||||||||||||
Purchases - U.S. Treasury securities | — | — | — | 67,358,648 | 417,481,424 | 698,668,053 | ||||||||||||||||||
Sales | 170,733,504 | 1,914,602,446 | 28,607,384 | 72,503,870 | 382,191,453 | 159,945,733 | ||||||||||||||||||
Sales - U.S. Treasury securities | — | — | — | 83,774,688 | 489,274,473 | 953,603,934 |
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 $100 million to $500 million Over $500 million | | 0.60 0.45 0.40 | % % % |
Investment advisory fee rate schedule (cont’d) | Breakpoint | Investment advisory fee | ||||
Mid Cap Growth Fund, Small Cap Growth Fund, Small Cap Fund | First $500 million $500 million to $1 billion Over $1 billion | | 0.60 0.55 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 Over $3 billion | | 0.60 0.55 | % % |
Subadvisory fees | The Manager has entered into subadvisory agreements with certain parties (the “subadviser” or “subadvisers”) to provide investment advice, portfolio management services (including the placement of brokerage orders), certain compliance and other services to the Funds. Under these agreements, Carillon Tower pays the subadvisers, each an affiliate of Carillon Tower, annualized rates identical to those disclosed in the investment advisory fee rate schedule. The subadvisers for the Funds are as follows:
• | ClariVest Asset Management LLC (“ClariVest”) serves as subadviser for the Capital Appreciation Fund and the International Stock Fund, |
• | Cougar Global Investments Limited serves as subadviser for the Tactical Allocation Fund, |
• | Eagle Asset Management, Inc. serves as subadviser for the Growth & Income Fund, Mid Cap Growth Fund, and Small Cap Growth Fund, and |
• | Scout Investments, Inc. serves as subadviser for the International Fund, Mid Cap Fund, Small Cap Fund, Core Bond Fund, Core Plus Bond Fund, and Unconstrained Bond Fund. |
Administrative fees | 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.
Distribution and service fees | Pursuant to the Class A, Class C,Class R-3 and Class Y Distribution plans and in accordance with Rule12b-1 of the Investment Company Act of 1940, as amended (“Rule12b-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% forClass 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 orClass 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 orClass R-6 shares, from its own resources.
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(UNAUDITED) | 04.30.2019 |
Sales charges | During the period ended April 30, 2019, totalfront-end sales charges and contingent deferred sales charges (“CDSC”) paid to the Distributor were as follows:
Capital Appreciation Fund | International Stock Fund | Tactical Allocation Fund | Growth & Income Fund | Mid Cap Growth Fund | Small Cap Growth Fund | |||||||||||||||||||
Front-end sales charges - Class A | $19,147 | $662 | $5,133 | $141,770 | $157,521 | $58,294 | ||||||||||||||||||
CDSC - Class A | 31 | — | — | — | — | — | ||||||||||||||||||
CDSC - Class C | 250 | 36 | 14 | 1,510 | 1,912 | 824 | ||||||||||||||||||
International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | Core Plus Bond Fund | Unconstrained Bond Fund | |||||||||||||||||||
Front-end sales charges - Class A | $14,470 | $104,404 | $32,387 | $4 | $29 | $— | ||||||||||||||||||
CDSC - Class A | — | — | — | — | — | — | ||||||||||||||||||
CDSC - Class C | — | 1,066 | 65 | — | 13 | — |
The Distributor paid commissions to salespersons from these fees and incurred other distribution costs.
Agency commissions | During the period ended April 30, 2019, 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:
Capital Appreciation Fund | International Stock Fund | Tactical Allocation Fund | Growth & Income Fund | Mid Cap Growth Fund | Small Cap Growth Fund | |||||||||||||||||||
Total agency brokerage commissions | $46,723 | $4,625 | $4,886 | $52,312 | $595,839 | $409,262 | ||||||||||||||||||
Paid to RJA | — | — | — | 3,181 | 52,339 | 328 | ||||||||||||||||||
International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | Core Plus Bond Fund | Unconstrained Bond Fund | |||||||||||||||||||
Total agency brokerage commissions | $168,681 | $1,450,043 | $39,831 | $— | $9,188 | $22,270 | ||||||||||||||||||
Paid to RJA | — | — | — | — | — | — |
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 apro-rata basis of each Fund’s relative total net assets. During the period ended April 30, 2019, the amount of shareholder servicing fees charged to the Funds were as follows:
Shareholder servicing fees | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | |||||||||||||||||||||
Capital Appreciation Fund | $1,344 | $141 | $1,993 | $9 | $56 | $— | $— | |||||||||||||||||||||
International Stock Fund | 36 | 18 | 52 | 7 | — | — | — | |||||||||||||||||||||
Tactical Allocation Fund | 12 | 17 | 145 | — | — | — | — | |||||||||||||||||||||
Growth & Income Fund | 1,208 | 1,047 | 2,953 | 15 | 15 | — | 1 | |||||||||||||||||||||
Mid Cap Growth Fund | 5,540 | 1,128 | 9,371 | 348 | 5,767 | — | 10 | |||||||||||||||||||||
Small Cap Growth Fund | 3,959 | 752 | 9,755 | 647 | 3,272 | — | — | |||||||||||||||||||||
International Fund | 5 | 1 | 6,002 | — | — | — | — | |||||||||||||||||||||
Mid Cap Fund | 118 | 114 | 20,253 | 13 | 6 | — | 129 | |||||||||||||||||||||
Small Cap Fund | 100 | 89 | 2,340 | 2 | 1 | — | 1 | |||||||||||||||||||||
Core Bond Fund | 6 | 4 | 819 | — | — | — | 14 | |||||||||||||||||||||
Core Plus Bond Fund | 2 | 2 | 4,917 | — | — | — | 125 | |||||||||||||||||||||
Unconstrained Bond Fund | 2 | 1 | 8,899 | — | — | — | 229 |
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(UNAUDITED) | 04.30.2019 |
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 the average daily net assets of each class of shares.
Expense limitations rate schedule | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | |||||||||||||||||||||
Capital Appreciation Fund | 1.00 | % | 1.75 | % | 0.70 | % | 1.25 | % | 0.70 | % | 0.60 | % | 1.00 | % | ||||||||||||||
International Stock Fund | 1.45 | % | 2.20 | % | 1.15 | % | 1.70 | % | 1.15 | % | 1.05 | % | 1.45 | % | ||||||||||||||
Tactical Allocation Fund | 1.17 | % | 1.92 | % | 0.87 | % | 1.42 | % | 0.87 | % | 0.77 | % | 1.17 | % | ||||||||||||||
Growth & Income Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % | 0.95 | % | 0.85 | % | 1.25 | % | ||||||||||||||
Mid Cap Growth Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % | 0.95 | % | 0.85 | % | 1.25 | % | ||||||||||||||
Small Cap Growth Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % | 0.95 | % | 0.85 | % | 1.25 | % | ||||||||||||||
International Fund | 1.45 | % | 2.20 | % | 1.15 | % | 1.70 | % | 1.15 | % | 1.05 | % | 1.45 | % | ||||||||||||||
Mid Cap Fund | 1.45 | % | 2.20 | % | 1.15 | % | 1.70 | % | 1.15 | % | 1.05 | % | 1.45 | % | ||||||||||||||
Small Cap Fund | 1.25 | % | 2.00 | % | 0.95 | % | 1.50 | % | 0.95 | % | 0.85 | % | 1.25 | % | ||||||||||||||
Core Bond Fund | 0.80 | % | 1.55 | % | 0.40 | % | 1.05 | % | 0.50 | % | 0.40 | % | 0.80 | % | ||||||||||||||
Core Plus Bond Fund | 0.80 | % | 1.55 | % | 0.40 | % | 1.05 | % | 0.50 | % | 0.40 | % | 0.80 | % | ||||||||||||||
Unconstrained Bond Fund | 0.80 | % | 1.55 | % | 0.50 | % | 1.05 | % | 0.50 | % | 0.40 | % | 0.80 | % |
Fees and expenses waived and/or reimbursed based on the expense rate limitation schedule were as follows:
Expenses waived and/or reimbursed 11/1/18 to 4/30/19 | Fund Level | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | ||||||||||||||||||||||||
Capital Appreciation Fund | $210,318 | $44,076 | $6,435 | $118,132 | $1,125 | $2,290 | $21,821 | $37 | ||||||||||||||||||||||||
International Stock Fund | 156,962 | 3,902 | 2,264 | 7,334 | 716 | 39 | 186 | 47 | ||||||||||||||||||||||||
Tactical Allocation Fund | 128,390 | 869 | 1,123 | 14,585 | 37 | 62 | 43 | 41 | ||||||||||||||||||||||||
Growth & Income Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Mid Cap Growth Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Growth Fund | — | — | — | — | — | — | — | 19 | ||||||||||||||||||||||||
International Fund | — | — | — | — | 23 | 25 | — | 37 | ||||||||||||||||||||||||
Mid Cap Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Fund | — | — | — | — | 78 | 11 | — | — | ||||||||||||||||||||||||
Core Bond Fund | 167,911 | 164 | 160 | 104,020 | 30 | 33 | 37 | 1,146 | ||||||||||||||||||||||||
Core Plus Bond Fund | 213,780 | 103 | 163 | 527,529 | 29 | 32 | 37 | 10,163 | ||||||||||||||||||||||||
Unconstrained Bond Fund | 1,519,842 | 35 | 72 | 542,723 | 33 | 32 | 22,784 | 23,169 |
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A portion or all of a Fund’s fees and expenses waived and/or reimbursed by the Manager in prior fiscal years may be recoverable by Carillon Tower prior to their expiration date. Any previously waived and/or reimbursed fees and expenses are recoverable by Carillon Tower only from the same class of shares and within two years from the Fund’s fiscal year-end during which the fees and expenses were originally waived and/or reimbursed. Previously waived and/or reimbursed fees and expenses are recovered by Carillon Tower within the following two fiscal years when fees and expenses in the current fiscal year fall below the lesser of the current expense cap or the expense cap in effect at the time of the waiver and/or reimbursement. The following tables show the amounts that Carillon Tower may be allowed to recover by class of shares and the dates that these amounts will expire:
Recoverable expenses - 10/31/2021 | Fund Level | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | ||||||||||||||||||||||||
Capital Appreciation Fund | $210,318 | $44,076 | $6,435 | $118,132 | $1,125 | $2,290 | $21,821 | $37 | ||||||||||||||||||||||||
International Stock Fund | 156,962 | 3,902 | 2,264 | 7,334 | 716 | 39 | 186 | 47 | ||||||||||||||||||||||||
Tactical Allocation Fund | 128,390 | 869 | 1,123 | 14,585 | 37 | 62 | 43 | 41 | ||||||||||||||||||||||||
Growth & Income Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Mid Cap Growth Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Growth Fund | — | — | — | — | — | — | — | 19 | ||||||||||||||||||||||||
International Fund | — | — | — | — | 23 | 25 | — | 37 | ||||||||||||||||||||||||
Mid Cap Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Fund | — | — | — | — | 78 | 11 | — | — | ||||||||||||||||||||||||
Core Bond Fund | 167,911 | 164 | 160 | 104,020 | 30 | 33 | 37 | 1,146 | ||||||||||||||||||||||||
Core Plus Bond Fund | 213,780 | 103 | 163 | 527,529 | 29 | 32 | 37 | 10,163 | ||||||||||||||||||||||||
Unconstrained Bond Fund | 1,519,842 | 35 | 72 | 542,723 | 33 | 32 | 22,784 | 23,169 | ||||||||||||||||||||||||
Recoverable expenses - 10/31/2020 | Fund Level | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | ||||||||||||||||||||||||
Capital Appreciation Fund | $314,098 | $63,195 | $14,943 | $174,217 | $1,515 | $3,459 | $41,017 | $75 | ||||||||||||||||||||||||
International Stock Fund | 256,931 | 7,421 | 6,236 | 14,261 | 1,657 | 84 | 153 | 81 | ||||||||||||||||||||||||
Tactical Allocation Fund | 227,556 | 1,613 | 2,336 | 26,647 | 84 | 135 | 96 | 82 | ||||||||||||||||||||||||
Growth & Income Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Mid Cap Growth Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Growth Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
International Fund | — | — | — | — | 44 | 49 | — | 69 | ||||||||||||||||||||||||
Mid Cap Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Fund | — | — | — | 9,905 | 172 | 104 | — | 55 | ||||||||||||||||||||||||
Core Bond Fund | 289,738 | 304 | 337 | 245,255 | 66 | 72 | 81 | 3,063 | ||||||||||||||||||||||||
Core Plus Bond Fund | 362,422 | 168 | 321 | 966,207 | 64 | 69 | 78 | 24,090 | ||||||||||||||||||||||||
Unconstrained Bond Fund | 3,540,247 | 95 | 141 | 1,170,586 | 92 | 69 | 14,497 | 54,356 | ||||||||||||||||||||||||
Recoverable expenses - 10/31/2019 | Fund Level | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | ||||||||||||||||||||||||
Capital Appreciation Fund | $— | $— | $— | $— | $424 | $— | $— | N/A | ||||||||||||||||||||||||
International Stock Fund | 318,472 | 5,471 | 8,001 | 7,594 | 1,682 | 49 | 74 | N/A | ||||||||||||||||||||||||
Tactical Allocation Fund | 278,988 | 2,731 | 2,441 | 19,305 | 11 | 64 | 16 | N/A | ||||||||||||||||||||||||
Growth & Income Fund | — | — | — | — | — | — | — | N/A | ||||||||||||||||||||||||
Mid Cap Growth Fund | — | — | — | — | — | — | — | N/A | ||||||||||||||||||||||||
Small Cap Growth Fund | — | — | — | — | — | — | — | N/A | ||||||||||||||||||||||||
International Fund* | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
Mid Cap Fund* | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
Small Cap Fund* | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
Core Bond Fund* | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
Core Plus Bond Fund* | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
Unconstrained Bond Fund* | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
* Fees waived and/or reimbursed 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 and/or reimbursed in the International Fund, Mid Cap Fund or Small Cap Fund prior to the reorganization on November 20, 2017. |
|
50 |
Table of Contents
Notes to Financial Statements
(UNAUDITED) | 04.30.2019 |
The Manager recovered previously waived expenses during the period ended April 30, 2019 as follows:
Recovered fees previously waived | Fund Level | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | ||||||||||||||||||||||||
Capital Appreciation Fund | $— | $— | $— | $— | $— | $— | $— | $— | ||||||||||||||||||||||||
International Stock Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Tactical Allocation Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Growth & Income Fund | — | — | — | — | — | — | — | 26 | ||||||||||||||||||||||||
Mid Cap Growth Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Growth Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
International Fund | — | — | 13 | — | — | — | — | — | ||||||||||||||||||||||||
Mid Cap Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Fund | — | — | — | 31,212 | — | — | 123 | 43 | ||||||||||||||||||||||||
Core Bond Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Core Plus Bond Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Unconstrained Bond Fund | — | — | — | — | — | — | — | — |
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 reasonableout-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.
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, 2015 to October 31, 2018 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, 2015 to June 30, 2017, October 31, 2017 and October 31, 2018) 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 andnon-REIT return of capital.
For income tax purposes, distributions paid during the fiscal periods indicated were as follows (tax character for the period ended April 30, 2019 is estimated):
Capital Appreciation Fund | International Stock Fund | Tactical Allocation Fund | Growth & Income Fund | Mid Cap Growth Fund | Small Cap Growth Fund | |||||||||||||||||||||||
Ordinary Income | 11/1/18 to 4/30/19 | $1,421,956 | $226,694 | $240,950 | $7,379,643 | $11,409,532 | $— | |||||||||||||||||||||
11/1/17 to 10/31/18 | 236,305 | 206,971 | 410,930 | 11,609,719 | — | — | ||||||||||||||||||||||
Long-term capital gain | 11/1/18 to 4/30/19 | 36,924,439 | — | 730,321 | 42,583,763 | 104,227,415 | 819,288,090 | |||||||||||||||||||||
11/1/17 to 10/31/18 | 25,236,644 | — | 35,112 | 14,662,876 | 158,724,314 | 381,398,349 | ||||||||||||||||||||||
International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | Core Plus Bond Fund | Unconstrained Bond Fund | |||||||||||||||||||||||
Ordinary Income | 11/1/18 to 4/30/19 | $32,961,533 | $11,985,514 | $442,863 | $1,277,932 | $7,334,742 | $12,906,036 | |||||||||||||||||||||
11/1/17 to 10/31/18 | 13,650,008 | 39,970,028 | 1,482,156 | 2,307,527 | 13,372,045 | 26,231,399 | ||||||||||||||||||||||
Long-term capital gain | 11/1/18 to 4/30/19 | 46,188,082 | 162,275,274 | 215,061 | — | — | — | |||||||||||||||||||||
11/1/17 to 10/31/18 | 164,035,083 | 98,792,226 | 45,281,251 | — | — | — |
51 |
Table of Contents
Notes to Financial Statements
(UNAUDITED) | 04.30.2019 |
At October 31, 2018, the components of distributable earnings (losses) on a tax basis were as follows:
Capital Appreciation Fund | International Stock Fund | Tactical Allocation Fund | Growth & Income Fund | Mid Cap Growth Fund | Small Cap Growth Fund | |||||||||||||||||||
Cost of investments | $304,394,611 | $16,927,741 | $22,493,976 | $377,515,161 | $3,621,460,988 | $3,634,344,758 | ||||||||||||||||||
Gross unrealized appreciation | 157,989,717 | 1,591,043 | 733,771 | 201,022,834 | 776,378,592 | 1,345,019,872 | ||||||||||||||||||
Gross unrealized depreciation | (10,943,580 | ) | (1,525,590 | ) | (293,020 | ) | (3,703,696 | ) | (252,832,793 | ) | (314,020,795 | ) | ||||||||||||
Net unrealized appreciation/(depreciation) | 147,046,137 | 65,453 | 440,751 | 197,319,138 | 523,545,799 | 1,030,999,077 | ||||||||||||||||||
Undistributed ordinary income | 1,198,625 | 226,693 | 160,299 | 974,236 | 10,819,279 | — | ||||||||||||||||||
Undistributed long-term gain | 36,924,363 | — | 730,315 | 42,583,590 | 104,227,236 | 818,753,850 | ||||||||||||||||||
Total distributable earnings | 38,122,988 | 226,693 | 890,614 | 43,557,826 | 115,046,515 | 818,753,850 | ||||||||||||||||||
Other accumulated losses | — | (30,679 | ) | — | (3,887 | ) | — | (17,054,458 | ) | |||||||||||||||
Total accumulated gains (losses) | $185,169,125 | $261,467 | $1,331,365 | $240,873,077 | $638,592,314 | $1,832,698,469 | ||||||||||||||||||
International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | Core Plus Bond Fund | Unconstrained Bond Fund | |||||||||||||||||||
Cost of investments | $608,062,310 | $2,274,862,488 | $215,273,659 | $116,497,607 | $681,038,800 | $1,277,175,362 | ||||||||||||||||||
Gross unrealized appreciation | 258,660,948 | 276,815,386 | 122,939,229 | 87,050 | 1,216,963 | 1,561,117 | ||||||||||||||||||
Gross unrealized depreciation | (69,216,036 | ) | (159,188,884 | ) | (20,822,929 | ) | (2,685,271 | ) | (17,891,264 | ) | (31,410,128 | ) | ||||||||||||
Net unrealized appreciation/(depreciation) | 189,444,912 | 117,626,502 | 102,116,300 | (2,598,221 | ) | (16,674,301 | ) | (29,849,011 | ) | |||||||||||||||
Undistributed ordinary income | 22,614,737 | 7,090,325 | 356,978 | 224,038 | 1,117,464 | 2,268,829 | ||||||||||||||||||
Undistributed long-term gain | 46,187,760 | 162,274,995 | 215,038 | — | — | — | ||||||||||||||||||
Total distributable earnings | 68,802,497 | 169,365,320 | 572,016 | 224,038 | 1,117,464 | 2,268,829 | ||||||||||||||||||
Other accumulated losses | (118,454 | ) | — | (10,271 | ) | (3,274,181 | ) | (23,494,717 | ) | (55,129,638 | ) | |||||||||||||
Total accumulated gains (losses) | $258,128,955 | $286,991,822 | $102,678,045 | $(5,648,364 | ) | $(39,051,554 | ) | $(82,709,820 | ) |
At October 31, 2018, the difference between book-basis and tax-basis unrealized appreciation (depreciation) was attributable primarily to the tax deferral of losses from wash sales and differences in the accounting treatment for non-REIT returns of capital and investments in passive foreign investment companies.
NOTE 6 | Other Derivative Information | At April 30, 2019, 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 Bond Fund | Credit contracts | Premiums paid - open swap contracts | $44,209 | N/A | ||||||||
Unrealized appreciation - open swap contracts | 197,293 | N/A | ||||||||||
|
| |||||||||||
Total | $241,502 | N/A | ||||||||||
|
| |||||||||||
Core Plus Bond Fund | Credit contracts | Premiums paid - open swap contracts | $1,085,575 | N/A | ||||||||
Unrealized appreciation - open swap contracts | 991,219 | N/A | ||||||||||
Interest rate contracts* | Unrealized appreciation - open futures contracts | 1,886,215 | N/A | |||||||||
Unrealized depreciation - open futures contracts | N/A | $1,905,136 | ||||||||||
|
| |||||||||||
Total | $3,963,009 | $1,905,136 | ||||||||||
|
| |||||||||||
Unconstrained Bond Fund | Credit contracts | Premiums paid - open swap contracts | $2,306,086 | N/A | ||||||||
Unrealized appreciation - open swap contracts | 1,525,609 | N/A | ||||||||||
Interest rate contracts* | Unrealized appreciation - open futures contracts | 4,270,304 | N/A | |||||||||
Unrealized depreciation - open futures contracts | N/A | $6,261,610 | ||||||||||
|
| |||||||||||
Total | $8,101,999 | $6,261,610 | ||||||||||
|
| |||||||||||
* Some of these futures contracts are denominated in Euro, which also gives the Fund exposure to foreign currency risk. |
|
52 |
Table of Contents
Notes to Financial Statements
(UNAUDITED) | 04.30.2019 |
Financial Accounting Standards Board Accounting Update2011-11, Disclosures about Offsetting Assets and Liabilities requires an entity that has financial instruments that are either 1) offset or 2) subject to an enforceable master netting arrangement or similar agreement to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. As of April 30, 2019, the Funds did not hold any financial or derivative instruments that are offset or subject to enforceable master netting agreements (or related arrangements).
For the period ended April 30, 2019, the effect of derivative contracts on the Funds’ Statements of Operations is as follows:
Risk Exposure Category | Derivative Instrument | Net Realized Gains (Losses) | Net Change in Unrealized Appreciation (Depreciation) | |||||||||
Core Bond Fund | Credit contracts | Swap contracts | $180,948 | $197,293 | ||||||||
|
| |||||||||||
Total | $180,948 | $197,293 | ||||||||||
|
| |||||||||||
Core Plus Bond Fund | Credit contracts | Swap contracts | $2,915,493 | $923,077 | ||||||||
Interest rate contracts* | Future contracts | (297,719 | ) | 1,951,500 | ||||||||
|
| |||||||||||
Total | $2,617,774 | $2,874,577 | ||||||||||
|
| |||||||||||
Unconstrained Bond Fund | Credit contracts | Swap contracts | $7,931,504 | $1,388,041 | ||||||||
Interest rate contracts* | Future contracts | (9,333,916 | ) | 3,204,338 | ||||||||
|
| |||||||||||
Total | $(1,402,412 | ) | $4,592,379 | |||||||||
|
| |||||||||||
* Some of these futures contracts were denominated in Euro, which also gave the Fund exposure to foreign currency risk. |
|
Refer to Note 2 for additional information regarding investments in derivatives.
NOTE 7 | Line of Credit | As of April 30, 2019, the Trust has a secured line of credit of up to $350,000,000 with U.S. Bank N.A, secured by a first priority lien on the Trust’s 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 $350,000,000 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, 2019 was 4.50% (prime rate of 5.50% minus 1.00%). The following table shows the details of the Funds’ borrowing activity during the period ended April 30, 2019. 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 Annual Interest Rate | |||||||||||||
Capital Appreciation Fund | $7,185,000 | $190,580 | $4,274 | 4.46% | ||||||||||||
International Stock Fund | 1,766,000 | 81,878 | 1,853 | 4.50 | ||||||||||||
Tactical Allocation Fund | 3,398,000 | 22,978 | 520 | 4.50 | ||||||||||||
Small Cap Growth Fund | 27,852,000 | 965,978 | 21,855 | 4.50 | ||||||||||||
International Fund | 3,282,000 | 18,133 | 387 | 4.25 | ||||||||||||
Unconstrained Bond Fund | 3,560,000 | 46,221 | 988 | 4.25 |
As of April 30, 2019, none of the Funds had any amounts outstanding under the line of credit.
NOTE 8 | Subsequent events | The Manager has evaluated subsequent events through June 19, 2019, 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.
53 |
Table of Contents
Understanding Your Ongoing Costs
(UNAUDITED) | 04.30.2019 |
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 reflectone-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, 2018 and held through April 30, 2019. 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 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, 2018 through April 30, 2019 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 | $1,084.20 | $5.17 | $1,019.84 | $5.01 | 1.00 | % | |||||||||||||||||
Class C | 1,000.00 | 1,079.80 | 9.02 | 1,016.12 | 8.75 | 1.75 | ||||||||||||||||||
Class I | 1,000.00 | 1,085.50 | 3.62 | 1,021.32 | 3.51 | 0.70 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,082.90 | 6.46 | 1,018.60 | 6.26 | 1.25 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,085.60 | 3.62 | 1,021.32 | 3.51 | 0.70 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,086.30 | 3.10 | 1,021.82 | 3.01 | 0.60 | ||||||||||||||||||
Class Y | 1,000.00 | 1,084.10 | 5.17 | 1,019.84 | 5.01 | 1.00 | ||||||||||||||||||
International Stock Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,031.20 | 7.30 | 1,017.60 | 7.25 | 1.45 | ||||||||||||||||||
Class C | 1,000.00 | 1,027.40 | 11.06 | 1,013.88 | 10.99 | 2.20 | ||||||||||||||||||
Class I | 1,000.00 | 1,032.10 | 5.79 | 1,019.09 | 5.76 | 1.15 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,029.70 | 8.56 | 1,016.36 | 8.50 | 1.70 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,032.00 | 5.79 | 1,019.09 | 5.76 | 1.15 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,033.00 | 5.29 | 1,019.59 | 5.26 | 1.05 | ||||||||||||||||||
Class Y | 1,000.00 | 1,030.70 | 7.30 | 1,017.60 | 7.25 | 1.45 | ||||||||||||||||||
Tactical Allocation Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,037.60 | 5.91 | 1,018.99 | 5.86 | 1.17 | ||||||||||||||||||
Class C | 1,000.00 | 1,033.10 | 9.68 | 1,015.27 | 9.59 | 1.92 | ||||||||||||||||||
Class I | 1,000.00 | 1,038.30 | 4.40 | 1,020.48 | 4.36 | 0.87 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,035.50 | 7.17 | 1,017.75 | 7.10 | 1.42 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,038.60 | 4.40 | 1,020.48 | 4.36 | 0.87 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,039.00 | 3.89 | 1,020.98 | 3.86 | 0.77 | ||||||||||||||||||
Class Y | 1,000.00 | 1,036.90 | 5.91 | 1,018.99 | 5.86 | 1.17 | ||||||||||||||||||
Growth & Income Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,075.70 | 4.99 | 1,019.98 | 4.86 | 0.97 | ||||||||||||||||||
Class C | 1,000.00 | 1,072.00 | 8.84 | 1,016.27 | 8.60 | 1.72 | ||||||||||||||||||
Class I | 1,000.00 | 1,077.00 | 3.55 | 1,021.37 | 3.46 | 0.69 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,074.30 | 6.63 | 1,018.40 | 6.46 | 1.29 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,077.30 | 3.45 | 1,021.47 | 3.36 | 0.67 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,077.50 | 3.25 | 1,021.67 | 3.16 | 0.63 | ||||||||||||||||||
Class Y | 1,000.00 | 1,075.50 | 5.51 | 1,019.49 | 5.36 | 1.07 | ||||||||||||||||||
Mid Cap Growth Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,135.20 | 5.56 | 1,019.59 | 5.26 | 1.05 | ||||||||||||||||||
Class C | 1,000.00 | 1,131.60 | 9.20 | 1,016.17 | 8.70 | 1.74 | ||||||||||||||||||
Class I | 1,000.00 | 1,137.10 | 3.92 | 1,021.12 | 3.71 | 0.74 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,133.90 | 6.88 | 1,018.35 | 6.51 | 1.30 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,136.90 | 3.92 | 1,021.12 | 3.71 | 0.74 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,137.50 | 3.44 | 1,021.57 | 3.26 | 0.65 | ||||||||||||||||||
Class Y | 1,000.00 | 1,135.90 | 4.93 | 1,020.18 | 4.66 | 0.93 |
54 |
Table of Contents
Understanding Your Ongoing Costs
(UNAUDITED) | 04.30.2019 |
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 | |||||||||||||||||||
Small Cap Growth Fund | ||||||||||||||||||||||||
Class A | $1,000.00 | $1,101.50 | $5.63 | $1,019.44 | $5.41 | 1.08 | % | |||||||||||||||||
Class C | 1,000.00 | 1,097.50 | 9.21 | 1,016.02 | 8.85 | 1.77 | ||||||||||||||||||
Class I | 1,000.00 | 1,103.20 | 4.02 | 1,020.98 | 3.86 | 0.77 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,100.20 | 6.98 | 1,018.15 | 6.71 | 1.34 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,103.10 | 4.02 | 1,020.98 | 3.86 | 0.77 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,103.90 | 3.39 | 1,021.57 | 3.26 | 0.65 | ||||||||||||||||||
Class Y | 1,000.00 | 1,101.30 | 5.99 | 1,019.09 | 5.76 | 1.15 | ||||||||||||||||||
International Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,084.50 | 7.34 | 1,017.75 | 7.10 | 1.42 | ||||||||||||||||||
Class C | 1,000.00 | 1,081.00 | 11.20 | 1,014.03 | 10.84 | 2.17 | ||||||||||||||||||
Class I | 1,000.00 | 1,086.40 | 5.79 | 1,019.24 | 5.61 | 1.12 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,083.00 | 8.78 | 1,016.36 | 8.50 | 1.70 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,085.60 | 5.95 | 1,019.09 | 5.76 | 1.15 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,086.70 | 5.28 | 1,019.74 | 5.11 | 1.02 | ||||||||||||||||||
Class Y | 1,000.00 | 1,084.30 | 7.49 | 1,017.60 | 7.25 | 1.45 | ||||||||||||||||||
Mid Cap Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,101.90 | 6.10 | 1,018.99 | 5.86 | 1.17 | ||||||||||||||||||
Class C | 1,000.00 | 1,097.70 | 10.09 | 1,015.17 | 9.69 | 1.94 | ||||||||||||||||||
Class I | 1,000.00 | 1,102.40 | 5.06 | 1,019.98 | 4.86 | 0.97 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,099.90 | 7.76 | 1,017.41 | 7.45 | 1.49 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,103.60 | 4.85 | 1,020.18 | 4.66 | 0.93 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,103.70 | 4.59 | 1,020.43 | 4.41 | 0.88 | ||||||||||||||||||
Class Y | 1,000.00 | 1,101.50 | 5.99 | 1,019.09 | 5.76 | 1.15 | ||||||||||||||||||
Small Cap Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,097.80 | 6.14 | 1,018.94 | 5.91 | 1.18 | ||||||||||||||||||
Class C | 1,000.00 | 1,093.70 | 10.12 | 1,015.12 | 9.74 | 1.95 | ||||||||||||||||||
Class I | 1,000.00 | 1,099.30 | 4.94 | 1,020.08 | 4.76 | 0.95 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,096.20 | 7.80 | 1,017.36 | 7.50 | 1.50 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,099.30 | 4.94 | 1,020.08 | 4.76 | 0.95 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,100.00 | 4.32 | 1,020.68 | 4.16 | 0.83 | ||||||||||||||||||
Class Y | 1,000.00 | 1,097.40 | 6.50 | 1,018.60 | 6.26 | 1.25 | ||||||||||||||||||
Core Bond Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,055.10 | 4.08 | 1,020.83 | 4.01 | 0.80 | ||||||||||||||||||
Class C | 1,000.00 | 1,050.70 | 7.88 | 1,017.11 | 7.75 | 1.55 | ||||||||||||||||||
Class I | 1,000.00 | 1,057.10 | 2.04 | 1,022.81 | 2.01 | 0.40 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,053.70 | 5.35 | 1,019.59 | 5.26 | 1.05 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,056.50 | 2.55 | 1,022.32 | 2.51 | 0.50 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,057.00 | 2.04 | 1,022.81 | 2.01 | 0.40 | ||||||||||||||||||
Class Y | 1,000.00 | 1,055.00 | 4.08 | 1,020.83 | 4.01 | 0.80 | ||||||||||||||||||
Core Plus Bond Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,060.10 | 4.09 | 1,020.83 | 4.01 | 0.80 | ||||||||||||||||||
Class C | 1,000.00 | 1,056.50 | 7.90 | 1,017.11 | 7.75 | 1.55 | ||||||||||||||||||
Class I | 1,000.00 | 1,062.50 | 2.05 | 1,022.81 | 2.01 | 0.40 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,059.10 | 5.36 | 1,019.59 | 5.26 | 1.05 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,061.60 | 2.56 | 1,022.32 | 2.51 | 0.50 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,062.50 | 2.05 | 1,022.81 | 2.01 | 0.40 | ||||||||||||||||||
Class Y | 1,000.00 | 1,060.10 | 4.09 | 1,020.83 | 4.01 | 0.80 | ||||||||||||||||||
Unconstrained Bond Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,044.70 | 4.06 | 1,020.83 | 4.01 | 0.80 | ||||||||||||||||||
Class C | 1,000.00 | 1,041.90 | 7.85 | 1,017.11 | 7.75 | 1.55 | ||||||||||||||||||
Class I | 1,000.00 | 1,047.00 | 2.54 | 1,022.32 | 2.51 | 0.50 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,043.30 | 5.32 | 1,019.59 | 5.26 | 1.05 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,047.00 | 2.54 | 1,022.32 | 2.51 | 0.50 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,047.50 | 2.03 | 1,022.81 | 2.01 | 0.40 | ||||||||||||||||||
Class Y | 1,000.00 | 1,045.10 | 4.06 | 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).
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Approval of Subadvisory Agreement
(UNAUDITED) |
At a meeting held on November 16, 2018, the Board of Trustees of the Carillon Series Trust (the “Trust”), including the independent trustees (together, the “Board” or the “Trustees”), considered the approval of a new Subadvisory Agreement between Carillon Tower Advisers, Inc. (“Carillon”) and ClariVest Asset Management LLC (“ClariVest”) with respect to the Carillon ClariVest Capital Appreciation Fund and Carillon ClariVest International Stock Fund (each, a “Fund” and together, the “Funds”), each a series of the Trust (the “New Agreement”). The Board was advised that ClariVest was expected to undergo a change of control during the first quarter of 2019 as a result of an increase in Eagle Asset Management, Inc.’s ownership interest in ClariVest from 45% to 100%. The Board was further advised that the change of control would result in an assignment and the automatic termination of the existing Subadvisory Agreement between Carillon and ClariVest with respect to the Funds (the “Existing Agreement”).
Prior to the meetings, information was provided to the Board regarding the change of control and the New Agreement. The Board considered that it had received and reviewed information from Carillon and ClariVest at a meeting held on August 17, 2018, in connection with the review of the Existing Agreement. The Board considered Carillon’s representation that, other than certain internal changes at ClariVest associated with the change of control,
there would be no material changes to the information regarding ClariVest that the Board reviewed at its August 2018 meeting and no information would be materially different with respect to the Funds as a result of the change of control. In connection with its consideration of the New Agreement, the Board considered that: (i) ClariVest’s principal business activities would not be affected by the change of control; (ii) the New Agreement would contain the same terms and conditions as the Existing Agreement; and (iii) the services provided by ClariVest to the Funds and the fee rates paid by Carillon to ClariVest with respect to the Funds would remain unchanged. The Board also considered that it was expected that the individuals who currently provide portfolio management services to the Funds would remain the same after the change of control, except that ClariVest’s Chief Executive Officer and Chief Investment Officer, who currently serves on each Fund’s portfolio management team, would assume the position of Senior Adviser at ClariVest and may no longer serve as a portfolio manager of the Funds.
Based on the foregoing considerations, the Board, including a majority of Trustees who are not “interested persons” of the Funds, Carillon or ClariVest, as that term is defined in the Investment Company Act of 1940, as amended, concluded that the approval of the New Agreement was in the best interests of each Fund and approved the New Agreement.
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(UNAUDITED)
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 Small Cap Growth Fund | ||||||||||||||||||
Call | X | |||||||||||||||||||||||
Commodities | X | |||||||||||||||||||||||
Credit | X | |||||||||||||||||||||||
Credit ratings | X | |||||||||||||||||||||||
Emerging markets | X | |||||||||||||||||||||||
Equity securities | X | X | X | X | X | X | ||||||||||||||||||
Fixed income market | X | |||||||||||||||||||||||
Focused holdings | X | X | ||||||||||||||||||||||
Foreign securities | X | X | X | |||||||||||||||||||||
Fund of funds | X | |||||||||||||||||||||||
Growth stocks | X | X | X | X | X | X | ||||||||||||||||||
High-yield securities | X | |||||||||||||||||||||||
Inflation | X | |||||||||||||||||||||||
Initial public offerings | X | |||||||||||||||||||||||
Interest rate | X | |||||||||||||||||||||||
Japan | X | |||||||||||||||||||||||
Liquidity | X | X | ||||||||||||||||||||||
Market and Stock Market | X | X | X | X | X | X | ||||||||||||||||||
Market timing | X | X | X | |||||||||||||||||||||
Mid-cap companies | X | X | X | X | X | |||||||||||||||||||
Mortgage and asset-backed securities | X | |||||||||||||||||||||||
Municipal securities | X | |||||||||||||||||||||||
Other investment companies, including ETFs | X | X | ||||||||||||||||||||||
Portfolio turnover | X | |||||||||||||||||||||||
Quantitative Strategy | X | X | ||||||||||||||||||||||
Redemptions | X | |||||||||||||||||||||||
Sectors | X | X | X | |||||||||||||||||||||
Small-cap companies | X | X | X | |||||||||||||||||||||
U.S. Government securities and Government sponsored enterprises | X | |||||||||||||||||||||||
Value stocks | X | X |
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Principal Risks
(UNAUDITED)
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 | ||||||||||||||||||
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 securities | X | X | X | X | X | X | ||||||||||||||||||
Growth stocks | X | X | X | |||||||||||||||||||||
High-yield securities | X | X | ||||||||||||||||||||||
Income | X | X | X | |||||||||||||||||||||
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 | |||||||||||||||||||||
Portfolio turnover | X | X | X | X | ||||||||||||||||||||
Redemptions | X | X | X | |||||||||||||||||||||
Sectors | X | |||||||||||||||||||||||
Short sales | 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 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
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Principal Risks
(UNAUDITED)
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 itsnon-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 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. |
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Principal Risks
(UNAUDITED)
• | 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. |
• | Dividend-Paying Stocks. Securities of companies that have historically paid a high dividend yield may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other investment strategies or the overall stock market. Changes to the dividend policies of companies in which a fund invests and the capital resources available for dividend payment at such companies may harm fund performance. A fund may also be harmed by changes to the favorable federal income tax treatment generally afforded to dividends. |
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.
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. Foreign securities may be less liquid than domestic securities and there may be delays in transaction settlement in some foreign markets. 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.
The precise details and the resulting impact of the United Kingdom’s vote to leave the European Union (the “EU”), commonly referred to as “Brexit,” are not yet known. The effect on the United Kingdom’s economy will likely depend on the nature of trade relations with the EU and other major economies following its exit, which are matters to be negotiated. The outcomes may cause increased volatility and have a significant adverse impact on world financial markets, other international trade agreements, and the United Kingdom and European economies, as well as the broader global economy for some time, which could significantly adversely affect the value of a fund’s investments in the United Kingdom and Europe.
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 thesub-adviser considers prudent, or thesub-adviser may have to select an investment other than that which thesub-adviser 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.
Initial public offerings | The market value of shares sold in an initial public offering (“IPO”) may fluctuate considerably due to factors such as the absence of a prior public market, unseasoned trading, the small number of shares available for trading and limited information about the issuer. In addition, the prices of securities sold in IPOs may be highly volatile or may decline shortly after the IPO. The purchase of IPO shares may also involve high transaction
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Principal Risks
(UNAUDITED)
costs. These offerings may produce gains that positively affect Fund performance during any given period, but such securities may not be available during other periods, or, even if they are available, may not be available in sufficient quantity to have a meaningful impact on Fund performance. They may also produce losses.
Interest rates | Investments in investment grade andnon-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 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 may continue to increase rates in the 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 amongnon-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.
Japan | A significant portion of a fund’s total assets may be invested in the securities of Japanese issuers, in accordance with the fund’s benchmark. Japan, like many Asian countries, is still heavily dependent upon international trade and may be adversely affected by protectionist trade policies, competition from Asia’s otherlow-cost emerging economies, the economic conditions of its trading partners, strength of the yen, and regional and global conflicts. The domestic Japanese economy faces several concerns, including large government deficits, a shrinking workforce, and, in some cases, companies with poor corporate governance. Japan has in the past intervened in the currency markets, which could cause the value of the yen to fluctuate sharply and unpredictably. Japan is located in a part of the world that has historically been prone to natural disasters such as earthquakes and tsunamis. Relations with its neighbors, particularly China, North Korea, South Korea and Russia, have at times been strained due to territorial disputes, historical animosities and defense concerns. Japan is also heavily dependent on oil and other commodity imports, and higher commodity prices could therefore have a negative impact on the Japanese economy. These and other factors could have a negative impact on a fund’s performance and increase the volatility of an investment in a fund.
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. The fund may be required to dispose of investments at unfavorable times or prices to satisfy obligations, which may result in losses or may be costly to the fund. For example, liquidity risk may be magnified in rising interest rate environments due to higher than normal redemption rates.
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.
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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 inmid-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 ofmid-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 inmid-cap companies should expect that the value of the fund’s shares will be more volatile than a fund that invests exclusively inlarge-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 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. In ato-be-announced (“TBA”) mortgage-backed transaction, a fund and the seller agree upon the issuer, interest rate and terms of the underlying mortgages. However, the seller does not identify the specific underlying mortgages until it issues the security. TBA mortgage-backed securities increase interest rate risks because the underlying mortgages may be less favorable than anticipated by a fund.
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.
Quantitative Strategy Risk | The success of a fund’s investment strategy may depend in part on the effectiveness of asub-adviser’s quantitative tools for screening securities. Securities selected using quantitative analysis can react differently to issuer, political, market, and economic developments than the market as a whole or securities selected using only fundamental analysis, which could adversely affect their value. A subadviser’s quantitative tools may use factors that may not be predictive of a security’s value, and any changes over time in the factors that affect a security’s value may not be reflected in the quantitative model. Thesub-adviser’s stock selection can be adversely affected if it relies on insufficient, erroneous or outdated data or flawed models or computer systems.
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.
Health care sector | The health care sector may be affected by government regulations and government health care programs, restrictions on government reimbursement for medical expenses, increases or decreases in the cost of medical products and services and
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product liability claims, among other factors. Many health care companies are (i) heavily dependent on patent protection and intellectual property rights and the expiration of a patent may adversely affect their profitability, (ii) subject to extensive litigation based on product liability and similar claims, and (iii) subject to competitive forces that may make it difficult to raise prices and, may result in price discounting. Many health care products and services may be subject to regulatory approvals. The process of obtaining such approvals may be long and costly, and delays in or failure to receive such approvals may negatively impact the business of such companies. Additional or more stringent laws and regulations enacted in the future could have a material adverse effect on such companies in the health care sector.
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 insmall-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 insmall-cap companies should expect that the value of the fund’s shares will be more volatile than a fund that invests exclusively inmid-cap orlarge-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 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
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Please consider the investment objectives, risks, charges and expenses of any fund carefully before investing. Contact Carillon at 800.421.4184 or www.carillontower.com or your financial advisor 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 FormN-Q orN-PORT (available for filings after March 31, 2019 ). These filings are available on the Commission’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 for the most recent12-month period ending June 30th of that year, 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.
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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 Trust.
Item 6. Schedule of Investments
Included as part of report to shareholders under Item 1.
Item 7. Disclosure of Proxy Voting Policies and Procedures forClosed-End Management Investment Companies
Not applicable to the Trust.
Item 8. Portfolio Managers ofClosed-End Management Investment Companies
Not applicable to the Trust.
Item 9. Purchases of Equity Securities byClosed-End Management Investment Company and Affiliated Purchasers
Not applicable to the Trust.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the Trust’s Nominating Committee Charter, which sets forth 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.
Item 11. Controls and Procedures
(a) | Based on an evaluation of the disclosure controls and procedures (as defined in Rule30a-3(c) under the Investment Company Act of 1940, as amended), the Principal Executive Officer and Principal Financial Officer of the Trust have concluded that such disclosure controls and procedures are effective as ofJune 20, 2019. |
(b) | There was no change in the internal controls over financial reporting (as defined in Rule30a-3(d) under the Investment Company Act of 1940, as amended) of the Trust that 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. |
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Item 12. Disclosure of Securities Lending Activities forClosed-End Management Investment Companies.
Not applicable to the Trust.
Item 13. Exhibits
(a)(1) Not applicable to semi-annual reports.
(a)(2) The certifications required by Rule30a-2(a) of the Investment Company Act of 1940, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 are filed and attached hereto as Exhibit 99.CERT.
(a)(3) Not applicable to the Trust.
(a)(4) Not applicable to the Trust
(b) The certification required by Rule30a-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 Trust has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CARILLON SERIES TRUST | ||||||
Date: June 20, 2019 | ||||||
/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 Trust and in the capacities and on the dates indicated.
CARILLON SERIES TRUST | ||||||
Date: June 20, 2019 | /s/ Susan L. Walzer | |||||
Susan L. Walzer | ||||||
Principal Executive Officer |
Date: June 20, 2019 | /s/ Carolyn Gill | |||||
Carolyn Gill | ||||||
Principal Financial Officer |