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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)567-1000
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, 2020
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Item 1. | Reports to Shareholders |
[INSERT SEMI-ANNUAL REPORT]
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Semiannual Report for thesix-month period ended April 30, 2020 (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 sincerely hope that this letter finds you healthy and well. While the novel coronavirus (COVID-19) has created new challenges and concerns, our commitment to helping you achieve your financial goals remains the same. Your fund family is operating efficiently and coping effectively with physical distancing and market dynamics.
The semiannual report of the Carillon Family of Funds for thesix-month period ending April 30, 2020 follows.
This period included the quickest “bear market” in history, driven by the actual and anticipated impacts of COVID-19. This was accompanied by unprecedented monetary and fiscal stimulus from the United States government, and governments globally. It has since been followed by a technical “bull market” as many equities and bonds made gains. As in last year’s letter, this is another reminder—if any was needed—that capital markets can be extremely volatile. The full impact of the COVID-19 pandemic is unknown at this time, but we can expect that the economic data will be extreme. Indeed, we are already seeing an exceptional spike in unemployment data, and the coming earnings seasons will likely reveal some extreme results.
We see opportunity in market volatility for our investment managers and their research-driven strategies. In a volatile market environment, experienced, research-based teams can consider specific investment opportunities. Carillon’s diverse array of strategies, including small-cap, mid-cap, large-cap, and international equities, fixed-income and tactical allocation, can help investors navigate current conditions and build toward long-term plans.
We believe investors should not let 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, risks, 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 we can continue to be a partner in helping you achieve your long-term financial goals.
Sincerely,
J. Cooper Abbott, CAIA, CFA
President
June 18, 2020
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 recent month-end, please call us at 800.421.4184 or visit our website at carillontower.com.
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 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
COMMON STOCKS—98.3% | Shares | Value | ||||||||||
Interactive media & services—7.6% | ||||||||||||
Alphabet, Inc., Class A* | 8,314 | $ 11,196,464 | ||||||||||
Alphabet, Inc., Class C* | 8,412 | 11,344,928 | ||||||||||
Facebook, Inc., Class A* | 60,500 | 12,384,955 | ||||||||||
Internet & direct marketing retail—6.5% | ||||||||||||
Amazon.com, Inc.* | 12,000 | 29,688,000 | ||||||||||
IT services—12.6% | ||||||||||||
Booz Allen Hamilton Holding Corp. | 31,800 | 2,335,392 | ||||||||||
Fidelity National Information Services, Inc. | 41,428 | 5,463,939 | ||||||||||
Fiserv, Inc.* | 62,000 | 6,389,720 | ||||||||||
FleetCor Technologies, Inc.* | 9,400 | 2,267,750 | ||||||||||
Global Payments, Inc. | 23,300 | 3,868,266 | ||||||||||
MasterCard, Inc., Class A | 47,730 | 13,124,318 | ||||||||||
PayPal Holdings, Inc.* | 71,600 | 8,806,800 | ||||||||||
Visa, Inc., Class A | 86,200 | 15,405,664 | ||||||||||
Life sciences tools & services—1.7% | ||||||||||||
Thermo Fisher Scientific, Inc. | 23,100 | 7,731,108 | ||||||||||
Machinery—0.7% | ||||||||||||
Cummins, Inc. | 11,400 | 1,863,900 | ||||||||||
Ingersoll Rand, Inc.* | 29,697 | 863,589 | ||||||||||
Otis Worldwide Corp.* | 11,750 | 598,192 | ||||||||||
Media—1.6% | ||||||||||||
Comcast Corp., Class A | 157,600 | 5,930,488 | ||||||||||
Discovery, Inc., Class A* | 69,208 | 1,551,643 | ||||||||||
Multiline retail—1.1% | ||||||||||||
Target Corp. | 44,200 | 4,850,508 | ||||||||||
Pharmaceuticals—3.6% | ||||||||||||
Bristol-Myers Squibb Co. | 116,700 | 7,096,527 | ||||||||||
Eli Lilly & Co. | 16,500 | 2,551,560 | ||||||||||
Merck & Co., Inc. | 84,900 | 6,735,966 | ||||||||||
Real estate management & development—0.8% |
| |||||||||||
CBRE Group, Inc., Class A* | 86,385 | 3,708,508 | ||||||||||
Semiconductors & semiconductor equipment—7.2% |
| |||||||||||
Broadcom, Inc. | 7,900 | 2,145,798 | ||||||||||
Intel Corp. | 40,000 | 2,399,200 | ||||||||||
KLA Corp. | 24,000 | 3,938,160 | ||||||||||
Lam Research Corp. | 11,300 | 2,884,664 | ||||||||||
Micron Technology, Inc.* | 49,600 | 2,375,344 | ||||||||||
NVIDIA Corp. | 25,900 | 7,570,052 | ||||||||||
QUALCOMM, Inc. | 38,300 | 3,013,061 | ||||||||||
Teradyne, Inc. | 70,800 | 4,427,832 | ||||||||||
Texas Instruments, Inc. | 38,100 | 4,422,267 | ||||||||||
Software—16.0% | ||||||||||||
Adobe, Inc.* | 22,800 | 8,062,992 | ||||||||||
Microsoft Corp. | 250,100 | 44,820,421 | ||||||||||
salesforce.com, Inc.* | 41,700 | 6,753,315 | ||||||||||
SS&C Technologies Holdings, Inc. | 42,900 | 2,366,364 | ||||||||||
Synopsys, Inc.* | 53,000 | 8,327,360 | ||||||||||
The Trade Desk, Inc., Class A* | 10,900 | 3,189,122 | ||||||||||
Specialty retail—3.4% | ||||||||||||
Advance Auto Parts, Inc. | 16,200 | 1,958,742 | ||||||||||
AutoZone, Inc.* | 3,500 | 3,571,120 | ||||||||||
The Home Depot, Inc. | 46,100 | 10,134,163 | ||||||||||
Technology hardware, storage & peripherals—8.6% |
| |||||||||||
Apple, Inc. | 134,866 | 39,623,631 |
2 | The accompanying notes are an integral part of the financial statements |
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Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON CLARIVEST CAPITAL APPRECIATION FUND(cont’d) | ||||||||||||
COMMON STOCKS—98.3% | Shares | Value | ||||||||||
Trading companies & distributors—0.7% | ||||||||||||
United Rentals, Inc.* | 25,700 | $ 3,302,450 | ||||||||||
Total common stocks (cost $248,674,025) | 451,691,190 | |||||||||||
Total investment portfolio (cost $248,674,025)—98.3% |
| 451,691,190 | ||||||||||
Other assets in excess of liabilities—1.7% | 7,776,937 | |||||||||||
Total net assets—100.0% | $459,468,127 |
*Non-income producing security
Sector allocation | ||||
Sector | Percent of net assets | |||
Information technology | 45.6% | |||
Health care | 16.2% | |||
Consumer discretionary | 12.1% | |||
Communication services | 10.6% | |||
Consumer staples | 6.3% | |||
Industrials | 3.9% | |||
Real estate | 3.0% | |||
Financials | 0.6% |
COMMON STOCKS—94.9% | Shares | Value | ||||||||||
France (cont’d) |
| |||||||||||
BNP Paribas S.A. | 1,452 | $ 45,617 | ||||||||||
Cie Generale des Etablissements Michelin | 782 | 75,558 | ||||||||||
Constellium SE* | 3,000 | 23,280 | ||||||||||
Eiffage S.A. | 946 | 77,309 | ||||||||||
ENGIE S.A. | 6,035 | 65,477 | ||||||||||
Pernod Ricard S.A. | 283 | 43,213 | ||||||||||
Peugeot S.A. | 4,995 | 70,808 | ||||||||||
Sanofi | 1,427 | 139,381 | ||||||||||
Societe Generale S.A. | 2,692 | 42,235 | ||||||||||
VINCI S.A. | 1,032 | 84,544 | ||||||||||
Germany—5.0% |
| |||||||||||
Allianz SE | 194 | 35,702 | ||||||||||
Bayer AG | 1,067 | 70,176 | ||||||||||
Deutsche Telekom AG | 2,727 | 39,868 | ||||||||||
HeidelbergCement AG | 1,102 | 52,247 | ||||||||||
Merck KGaA | 1,160 | 134,629 | ||||||||||
Muenchener Rueckversicherungs-Gesellschaft AG | 219 | 47,967 | ||||||||||
TAG Immobilien AG* | 2,442 | 53,489 | ||||||||||
Hong Kong—0.4% |
| |||||||||||
CK Hutchison Holdings Ltd. | 5,000 | 37,061 | ||||||||||
Israel—1.7% |
| |||||||||||
Israel Discount Bank Ltd., Class A | 29,031 | 94,186 | ||||||||||
Teva Pharmaceutical Industries Ltd., Sponsored ADR* | 5,000 | 53,700 | ||||||||||
Italy—3.8% |
| |||||||||||
Enel SpA | 31,388 | 214,395 | ||||||||||
Eni SpA | 4,766 | 45,403 | ||||||||||
Leonardo SpA | 10,312 | 71,216 | ||||||||||
Japan—28.2% |
| |||||||||||
Asahi Group Holdings Ltd. | 1,000 | 34,385 | ||||||||||
Central Glass Co. Ltd. | 1,700 | 29,135 | ||||||||||
Chubu Electric Power Co., Inc. | 3,500 | 47,334 | ||||||||||
Cosmo Energy Holdings Co. Ltd. | 1,100 | 16,525 | ||||||||||
FUJIFILM Holdings Corp. | 3,700 | 176,240 | ||||||||||
Fujitsu Ltd. | 800 | 77,719 | ||||||||||
Hitachi Ltd. | 4,400 | 130,589 | ||||||||||
Hokkaido Electric Power Co., Inc. | 5,700 | 21,813 | ||||||||||
Hoya Corp. | 900 | 82,074 | ||||||||||
ITOCHU Corp. | 9,700 | 190,170 | ||||||||||
Kajima Corp. | 3,300 | 34,290 | ||||||||||
KDDI Corp. | 8,600 | 249,093 | ||||||||||
Marubeni Corp. | 25,000 | 120,396 | ||||||||||
Mitsubishi Corp. | 2,300 | 48,778 | ||||||||||
Mitsubishi UFJ Financial Group, Inc. | 19,000 | 76,760 | ||||||||||
Mizuho Financial Group, Inc. | 32,700 | 38,077 | ||||||||||
Morinaga Milk Industry Co. Ltd. | 1,200 | 46,510 | ||||||||||
NEC Corp. | 4,400 | 168,849 | ||||||||||
Nichi-iko Pharmaceutical Co. Ltd. | 2,300 | 29,904 | ||||||||||
Nippon Telegraph & Telephone Corp. | 8,800 | 200,408 | ||||||||||
NTT DOCOMO, Inc. | 800 | 23,577 | ||||||||||
Olympus Corp. | 2,300 | 36,494 | ||||||||||
Ricoh Co. Ltd. | 5,900 | 40,217 | ||||||||||
Sawai Pharmaceutical Co. Ltd. | 1,100 | 60,065 | ||||||||||
Sekisui House Ltd. | 1,900 | 32,594 | ||||||||||
Sojitz Corp. | 25,900 | 59,941 | ||||||||||
Sony Corp. | 2,800 | 180,192 | ||||||||||
Sumitomo Corp. | 4,500 | 50,905 | ||||||||||
The Hiroshima Bank Ltd. | 4,700 | 19,528 |
The accompanying notes are an integral part of the financial statements | 3 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON CLARIVEST INTERNATIONAL STOCK FUND(cont’d) | ||||||||||||
COMMON STOCKS—94.9% | Shares | Value | ||||||||||
Japan (cont’d) |
| |||||||||||
Toyota Motor Corp. | 1,300 | $ 80,375 | ||||||||||
World Co. Ltd. | 2,100 | 24,637 | ||||||||||
Netherlands—7.5% | ||||||||||||
Aegon N.V. | 10,268 | 26,560 | ||||||||||
Akzo Nobel N.V. | 846 | 64,203 | ||||||||||
ASM International N.V. | 594 | 65,387 | ||||||||||
ASR Nederland N.V. | 725 | 19,505 | ||||||||||
Koninklijke Ahold Delhaize N.V. | 7,243 | 175,863 | ||||||||||
Koninklijke Philips N.V. | 1,420 | 61,901 | ||||||||||
NN Group N.V. | 4,358 | 126,067 | ||||||||||
NXP Semiconductors N.V. | 1,095 | 109,029 | ||||||||||
Norway—0.2% | ||||||||||||
Austevoll Seafood ASA | 2,323 | 18,096 | ||||||||||
Singapore—0.2% | ||||||||||||
Yanlord Land Group Ltd. | 21,400 | 15,997 | ||||||||||
Spain—2.6% | ||||||||||||
Almirall S.A. | 1,534 | 19,783 | ||||||||||
Banco Bilbao Vizcaya Argentaria S.A. | 7,291 | 23,833 | ||||||||||
Banco Santander S.A. | 10,740 | 23,997 | ||||||||||
Iberdrola S.A. | 8,762 | 87,163 | ||||||||||
Repsol S.A. | 2,211 | 20,069 | ||||||||||
Telefonica S.A. | 10,431 | 47,696 | ||||||||||
Sweden—1.6% | ||||||||||||
SSAB AB, Class B | 7,855 | 18,154 | ||||||||||
Swedish Match AB | 651 | 40,230 | ||||||||||
Telefonaktiebolaget LM Ericsson, Class B | 8,796 | 75,146 | ||||||||||
Switzerland—9.7% | ||||||||||||
Credit Suisse Group AG | 4,851 | 44,293 | ||||||||||
Nestle S.A. | 1,158 | 122,644 | ||||||||||
Novartis AG | 3,028 | 258,405 | ||||||||||
Roche Holding AG | 640 | 221,630 | ||||||||||
Swiss Life Holding AG | 219 | 77,662 | ||||||||||
UBS Group AG | 3,546 | 37,969 | ||||||||||
Zurich Insurance Group AG | 224 | 71,020 | ||||||||||
United Kingdom—13.3% | ||||||||||||
3i Group PLC | 7,716 | 75,801 | ||||||||||
AstraZeneca PLC | 1,283 | 134,191 | ||||||||||
Barclays PLC | 40,077 | 53,515 | ||||||||||
Bellway PLC | 797 | 26,669 | ||||||||||
BP PLC | 12,627 | 49,755 | ||||||||||
British American Tobacco PLC | 2,348 | 90,501 | ||||||||||
Coca-Cola European Partners PLC | 1,275 | 50,541 | ||||||||||
Computacenter PLC | 2,169 | 39,640 | ||||||||||
Dialog Semiconductor PLC* | 1,616 | 50,751 | ||||||||||
GlaxoSmithKline PLC | 4,357 | 90,898 | ||||||||||
Halma PLC | 2,166 | 56,945 | ||||||||||
Imperial Brands PLC | 4,088 | 86,005 | ||||||||||
Lloyds Banking Group PLC | 81,462 | 32,960 | ||||||||||
Redrow PLC | 4,219 | 24,514 | ||||||||||
Rio Tinto PLC | 1,351 | 62,711 | ||||||||||
Royal Dutch Shell PLC, Class B | 3,637 | 58,223 | ||||||||||
Standard Chartered PLC | 7,124 | 36,401 | ||||||||||
Tesco PLC | 42,056 | 124,393 | ||||||||||
Total common stocks (cost $8,778,558) | 8,177,334 |
PREFERRED STOCKS—1.3% | Shares | Value | ||||||||||
Germany—1.3% | ||||||||||||
Volkswagen AG | 824 | $ 114,644 | ||||||||||
Total preferred stocks (cost $141,780) | 114,644 | |||||||||||
EXCHANGE TRADED FUNDS—1.5% | ||||||||||||
United States—1.5% | ||||||||||||
iShares MSCI EAFE ETF | 2,300 | 130,111 | ||||||||||
Total exchange traded funds (cost $131,143) | 130,111 | |||||||||||
Total investment portfolio (cost $9,051,481)—97.7% | 8,422,089 | |||||||||||
Other assets in excess of liabilities—2.3% | 197,692 | |||||||||||
Total net assets—100.0% | $8,619,781 |
*Non-income producing security
ADR—American Depositary Receipt
ETF—Exchange Traded Fund
Sector allocation | ||||
Sector | Percent of net assets | |||
Health care | 18.8% | |||
Financials | 13.4% | |||
Consumer staples | 12.7% | |||
Information technology | 12.6% | |||
Industrials | 9.7% | |||
Consumer discretionary | 7.3% | |||
Communication services | 6.5% | |||
Utilities | 5.1% | |||
Materials | 5.0% | |||
Energy | 3.4% | |||
Real estate | 1.7% | |||
Exchange traded funds | 1.5% |
4 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON COUGAR TACTICAL ALLOCATION FUND(cont’d) | ||||||||||||
EXCHANGE TRADED FUNDS—92.9% (a) | Shares | Value | ||||||||||
Foreign—15.7% | ||||||||||||
Equity—15.7% | ||||||||||||
iShares Core MSCI EAFE ETF | 23,301 | $ 1,235,652 | ||||||||||
iShares Core MSCI Emerging Markets ETF | 55,170 | 2,408,722 | ||||||||||
Total foreign exchange traded funds (cost $4,269,600) |
| 3,644,374 | ||||||||||
Total exchange traded funds (cost $21,104,103) | 21,609,636 | |||||||||||
Total investment portfolio (cost $21,104,103)—92.9% |
| 21,609,636 | ||||||||||
Other assets in excess of liabilities—7.1% | 1,643,330 | |||||||||||
Total net assets—100.0% | $23,252,966 |
ETF—Exchange Traded Fund
*Non-income producing security
(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 | 56.3% | |||
Equity | 31.7% | |||
Commodity | 4.9% |
COMMON STOCKS—96.6% | Shares | Value | ||||||||||
Equity real estate investment trusts (REITs) (cont’d) |
| |||||||||||
Prologis, Inc. | 258,581 | $ 23,073,183 | ||||||||||
Food & staples retailing—2.1% | ||||||||||||
Sysco Corp. | 249,292 | 14,027,661 | ||||||||||
Health care equipment & supplies—4.9% | ||||||||||||
Abbott Laboratories | 140,287 | 12,919,030 | ||||||||||
Medtronic PLC | 208,090 | 20,315,827 | ||||||||||
Hotels, restaurants & leisure—3.6% | ||||||||||||
McDonald’s Corp. | 129,521 | 24,292,959 | ||||||||||
Household products—4.2% | ||||||||||||
The Procter & Gamble Co. | 239,815 | 28,266,994 | ||||||||||
Industrial conglomerates—2.6% | ||||||||||||
Honeywell International, Inc. | 122,916 | 17,441,780 | ||||||||||
Insurance—2.0% | ||||||||||||
Chubb Ltd. | 127,834 | 13,807,350 | ||||||||||
IT services—3.0% | ||||||||||||
Automatic Data Processing, Inc. | 138,068 | 20,253,195 | ||||||||||
Media—1.9% | ||||||||||||
Comcast Corp., Class A | 338,676 | 12,744,378 | ||||||||||
Oil, gas & consumable fuels—3.2% | ||||||||||||
Chevron Corp. | 234,589 | 21,582,188 | ||||||||||
Pharmaceuticals—11.3% | ||||||||||||
Eli Lilly & Co. | 111,481 | 17,239,422 | ||||||||||
Johnson & Johnson | 128,569 | 19,290,493 | ||||||||||
Merck & Co., Inc. | 243,288 | 19,302,470 | ||||||||||
Pfizer, Inc. | 534,734 | 20,512,396 | ||||||||||
Road & rail—2.5% | ||||||||||||
Union Pacific Corp. | 106,582 | 17,030,738 | ||||||||||
Semiconductors & semiconductor equipment—4.2% |
| |||||||||||
Maxim Integrated Products, Inc. | 122,346 | 6,726,583 | ||||||||||
Texas Instruments, Inc. | 188,701 | 21,902,525 | ||||||||||
Software—5.0% | ||||||||||||
Microsoft Corp. | 187,913 | 33,675,889 | ||||||||||
Specialty retail—4.3% | ||||||||||||
The Home Depot, Inc. | 131,083 | 28,815,976 | ||||||||||
Total common stocks (cost $487,197,395) | 651,803,527 | |||||||||||
Total investment portfolio (cost $487,197,395)—96.6% |
| 651,803,527 | ||||||||||
Other assets in excess of liabilities—3.4% | 22,660,644 | |||||||||||
Total net assets—100.0% | $674,464,171 |
Sector allocation | ||||
Sector | Percent of net assets | |||
Health care | 18.1% | |||
Information technology | 15.6% | |||
Consumer staples | 12.4% | |||
Industrials | 9.8% | |||
Financials | 9.3% | |||
Consumer discretionary | 7.9% |
The accompanying notes are an integral part of the financial statements | 5 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON EAGLE GROWTH & INCOME FUND(cont’d) | ||||
Sector allocation(cont’d) | ||||
Sector | Percent of net assets | |||
Real estate | 7.2% | |||
Communication services | 5.9% | |||
Utilities | 4.7% | |||
Energy | 3.2% | |||
Materials | 2.5% |
COMMON STOCKS—99.7% | Shares | Value | ||||||||||
Electronic equipment, instruments & components (cont’d) |
| |||||||||||
IPG Photonics Corp.* | 395,554 | $ 51,156,999 | ||||||||||
Keysight Technologies, Inc.* | 723,314 | 69,995,096 | ||||||||||
Energy equipment & services—0.8% |
| |||||||||||
Baker Hughes Co. | 1,855,932 | 25,890,252 | ||||||||||
National Oilwell Varco, Inc. | 1,311,460 | 16,576,854 | ||||||||||
Entertainment—1.0% |
| |||||||||||
Lions Gate Entertainment Corp., Class A*(a) | 1,840,488 | 13,141,084 | ||||||||||
Take-Two Interactive Software, Inc.* | 334,711 | 40,516,767 | ||||||||||
Equity real estate investment trusts (REITs)—3.1% |
| |||||||||||
SBA Communications Corp. | 574,985 | 166,699,651 | ||||||||||
Health care equipment & supplies—7.7% |
| |||||||||||
Align Technology, Inc.* | 234,386 | 50,357,832 | ||||||||||
DexCom, Inc.* | 261,748 | 87,737,929 | ||||||||||
IDEXX Laboratories, Inc.* | 267,606 | 74,287,426 | ||||||||||
Insulet Corp.* | 258,424 | 51,612,441 | ||||||||||
Masimo Corp.* | 317,034 | 67,816,743 | ||||||||||
Teleflex, Inc. | 157,767 | 52,915,052 | ||||||||||
West Pharmaceutical Services, Inc. | 151,472 | 28,667,591 | ||||||||||
Health care providers & services—2.6% |
| |||||||||||
Centene Corp.* | 1,117,837 | 74,425,587 | ||||||||||
Chemed Corp. | 100,708 | 41,951,932 | ||||||||||
Guardant Health, Inc.* | 335,487 | 25,819,080 | ||||||||||
Health care technology—2.0% |
| |||||||||||
Cerner Corp. | 378,995 | 26,298,463 | ||||||||||
Teladoc Health, Inc.* | 155,065 | 25,522,148 | ||||||||||
Veeva Systems, Inc., Class A* | 283,942 | 54,176,134 | ||||||||||
Hotels, restaurants & leisure—3.7% |
| |||||||||||
Caesars Entertainment Corp.* | 6,394,314 | 61,769,073 | ||||||||||
Chipotle Mexican Grill, Inc.* | 94,128 | 82,696,154 | ||||||||||
Planet Fitness, Inc., Class A* | 411,763 | 24,841,662 | ||||||||||
Vail Resorts, Inc. | 183,905 | 31,447,755 | ||||||||||
Household durables—0.8% |
| |||||||||||
Lennar Corp., Class A | 879,116 | 44,017,338 | ||||||||||
Interactive media & services—2.3% |
| |||||||||||
Pinterest, Inc., Class A* | 2,523,065 | 52,126,523 | ||||||||||
Twitter, Inc.* | 2,557,256 | 73,342,102 | ||||||||||
IT services—6.3% |
| |||||||||||
Fidelity National Information Services, Inc. | 452,798 | 59,719,528 | ||||||||||
FleetCor Technologies, Inc.* | 205,407 | 49,554,439 | ||||||||||
Global Payments, Inc. | 639,082 | 106,100,393 | ||||||||||
Perspecta, Inc. | 2,413,810 | 52,065,882 | ||||||||||
Shopify, Inc., Class A* | 110,255 | 69,713,134 | ||||||||||
Leisure products—0.5% |
| |||||||||||
Peloton Interactive, Inc., Class A*(a) | 922,670 | 29,064,105 | ||||||||||
Life sciences tools & services—1.0% |
| |||||||||||
IQVIA Holdings, Inc.* | 383,817 | 54,728,466 | ||||||||||
Machinery—0.9% |
| |||||||||||
Westinghouse Air Brake Technologies Corp. | 905,909 | 51,111,386 | ||||||||||
Media—1.2% |
| |||||||||||
Sirius XM Holdings, Inc. | 11,177,628 | 66,059,781 | ||||||||||
Multiline retail—0.7% |
| |||||||||||
Dollar Tree, Inc.* | 447,959 | 35,688,894 |
6 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON EAGLE MID CAP GROWTH FUND(cont’d) | ||||||||||||
COMMON STOCKS—99.7% | Shares | Value | ||||||||||
Oil, gas & consumable fuels—0.4% |
| |||||||||||
Diamondback Energy, Inc. | 557,151 | $ 24,258,355 | ||||||||||
Pharmaceuticals—1.1% |
| |||||||||||
Zoetis, Inc. | 470,538 | 60,845,269 | ||||||||||
Professional services—3.2% |
| |||||||||||
IHS Markit Ltd. | 1,199,214 | 80,707,102 | ||||||||||
TransUnion | 1,135,885 | 89,496,379 | ||||||||||
Road & rail—1.0% |
| |||||||||||
Old Dominion Freight Line, Inc. | 378,010 | 54,921,073 | ||||||||||
Semiconductors & semiconductor equipment—6.5% |
| |||||||||||
Advanced Micro Devices, Inc.* | 2,380,920 | 124,736,399 | ||||||||||
Marvell Technology Group Ltd. | 2,083,458 | 55,711,667 | ||||||||||
Maxim Integrated Products, Inc. | 1,044,067 | 57,402,804 | ||||||||||
Microchip Technology, Inc. | 765,999 | 67,201,092 | ||||||||||
Xilinx, Inc. | 502,433 | 43,912,644 | ||||||||||
Software—15.9% |
| |||||||||||
Citrix Systems, Inc. | 264,509 | 38,356,450 | ||||||||||
Crowdstrike Holdings, Inc., Class A* | 1,132,491 | 76,624,341 | ||||||||||
DocuSign, Inc.* | 278,982 | 29,223,365 | ||||||||||
Elastic N.V.* | 692,692 | 44,429,265 | ||||||||||
Fair Isaac Corp.* | 135,276 | 47,744,311 | ||||||||||
PTC, Inc.* | 523,916 | 36,281,183 | ||||||||||
RingCentral, Inc., Class A* | 499,851 | 114,230,949 | ||||||||||
ServiceNow, Inc.* | 120,159 | 42,240,695 | ||||||||||
Splunk, Inc.* | 746,320 | 104,753,475 | ||||||||||
Synopsys, Inc.* | 688,709 | 108,209,958 | ||||||||||
Tyler Technologies, Inc.* | 340,370 | 109,153,255 | ||||||||||
Workday, Inc., Class A* | 259,282 | 39,903,500 | ||||||||||
Zendesk, Inc.* | 868,891 | 66,800,340 | ||||||||||
Specialty retail—2.7% |
| |||||||||||
AutoZone, Inc.* | 58,238 | 59,421,396 | ||||||||||
Burlington Stores, Inc.* | 467,368 | 85,383,460 | ||||||||||
Textiles, apparel & luxury goods—1.6% |
| |||||||||||
Lululemon Athletica, Inc.* | 375,322 | 83,876,961 | ||||||||||
Trading companies & distributors—2.0% |
| |||||||||||
United Rentals, Inc.* | 302,220 | 38,835,270 | ||||||||||
W.W. Grainger, Inc. | 245,139 | 67,555,406 | ||||||||||
Total common stocks (cost $4,203,779,006) |
| 5,375,652,352 | ||||||||||
MONEY MARKET FUNDS—0.1% | ||||||||||||
First American Government Obligations Fund—Class X, 0.25%# | 4,334,635 | 4,334,635 | ||||||||||
Total money market funds (cost $4,334,635) | 4,334,635 | |||||||||||
Total investment portfolio (cost $4,208,113,641)—99.8% |
| 5,379,986,987 | ||||||||||
Other assets in excess of liabilities—0.2% | 10,864,784 | |||||||||||
Total net assets—100.0% | $5,390,851,771 |
*Non-income producing security
(a) All or a portion of this security was on loan as of the date of this report. The total market value of loaned securities was $4,061,358 or 0.1% of net assets as of the date of this report.
# Annualizedseven-day yield as of the date of this report. Investment made with cash collateral received for securities on loan.
Sector allocation | ||||
Sector | Percent of net assets | |||
Information technology | 33.9% | |||
Health care | 17.6% | |||
Industrials | 14.1% | |||
Consumer discretionary | 13.2% | |||
Financials | 6.5% | |||
Communication services | 4.6% | |||
Materials | 3.7% | |||
Real estate | 3.1% | |||
Consumer staples | 1.8% | |||
Energy | 1.2% | |||
Money market funds | 0.1% |
The accompanying notes are an integral part of the financial statements | 7 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON EAGLE SMALL CAP GROWTH FUND(cont’d) | ||||||||||||
COMMON STOCKS—99.6% | Shares | Value | ||||||||||
Communications equipment—1.5% |
| |||||||||||
Lumentum Holdings, Inc.* | 552,777 | $ 44,725,187 | ||||||||||
Construction materials—1.1% |
| |||||||||||
Summit Materials, Inc., Class A* | 2,180,026 | 32,940,193 | ||||||||||
Consumer finance—1.0% |
| |||||||||||
FirstCash, Inc. | 411,294 | 29,547,361 | ||||||||||
Distributors—0.8% |
| |||||||||||
Pool Corp. | 107,674 | 22,790,279 | ||||||||||
Diversified consumer services—1.0% | ||||||||||||
Chegg, Inc.* | 695,518 | 29,733,394 | ||||||||||
Electrical equipment—0.9% | ||||||||||||
Thermon Group Holdings, Inc.* | 1,616,313 | 24,697,263 | ||||||||||
Electronic equipment, instruments & components—5.3% |
| |||||||||||
Cognex Corp. | 1,015,312 | 56,085,835 | ||||||||||
Coherent, Inc.* | 324,206 | 41,456,221 | ||||||||||
II-VI, Inc.* | 650,000 | 22,373,000 | ||||||||||
IPG Photonics Corp.* | 251,516 | 32,528,564 | ||||||||||
Equity real estate investment trusts (REITs)—0.6% |
| |||||||||||
EastGroup Properties, Inc. | 155,416 | 16,474,096 | ||||||||||
Food & staples retailing—2.0% | ||||||||||||
Casey’s General Stores, Inc. | 216,261 | 32,744,078 | ||||||||||
Grocery Outlet Holding Corp.* | 783,367 | 26,062,620 | ||||||||||
Food products—1.8% | ||||||||||||
Freshpet, Inc.* | 509,275 | 38,404,428 | ||||||||||
The Simply Good Foods Co.* | 690,142 | 13,009,176 | ||||||||||
Health care equipment & supplies—9.9% | ||||||||||||
CONMED Corp. | 156,532 | 11,569,280 | ||||||||||
Haemonetics Corp.* | 344,772 | 39,228,158 | ||||||||||
Insulet Corp.* | 182,665 | 36,481,854 | ||||||||||
Novocure Ltd.* | 534,443 | 35,166,350 | ||||||||||
NuVasive, Inc.* | 385,457 | 23,466,622 | ||||||||||
Penumbra, Inc.* | 163,485 | 28,989,160 | ||||||||||
Quidel Corp.* | 397,803 | 55,294,617 | ||||||||||
Tandem Diabetes Care, Inc.* | 685,472 | 54,686,956 | ||||||||||
Health care providers & services—3.2% | ||||||||||||
Amedisys, Inc.* | 191,502 | 35,267,008 | ||||||||||
AMN Healthcare Services, Inc.* | 483,311 | 22,705,951 | ||||||||||
BioTelemetry, Inc.* | 293,057 | 13,688,692 | ||||||||||
HealthEquity, Inc.* | 210,034 | 11,818,613 | ||||||||||
LHC Group, Inc.* | 72,341 | 9,403,607 | ||||||||||
Health care technology—4.5% | ||||||||||||
Evolent Health, Inc., Class A* | 2,492,948 | 17,974,155 | ||||||||||
Omnicell, Inc.* | 342,460 | 24,965,334 | ||||||||||
Teladoc Health, Inc.* | 525,433 | 86,481,018 | ||||||||||
Hotels, restaurants & leisure—4.5% | ||||||||||||
DraftKings, Inc., Class A*(a) | 369,941 | 7,199,052 | ||||||||||
Everi Holdings, Inc.*(b) | 4,716,662 | 23,347,477 | ||||||||||
Penn National Gaming, Inc.* | 618,786 | 11,026,767 | ||||||||||
Planet Fitness, Inc., Class A* | 707,762 | 42,699,281 | ||||||||||
Wingstop, Inc. | 396,326 | 46,477,150 | ||||||||||
Household durables—2.5% | ||||||||||||
LGI Homes, Inc.* | 174,979 | 10,600,228 | ||||||||||
Universal Electronics, Inc.*(b) | 1,502,697 | 62,031,332 |
COMMON STOCKS—99.6% | Shares | Value | ||||||||||
Insurance—0.9% |
| |||||||||||
eHealth, Inc.* | 254,981 | $ 27,206,473 | ||||||||||
IT services—0.8% |
| |||||||||||
EVO Payments, Inc., Class A* | 1,124,737 | 22,393,514 | ||||||||||
Life sciences tools & services—2.7% |
| |||||||||||
NeoGenomics, Inc.* | 1,423,668 | 38,923,083 | ||||||||||
Repligen Corp.* | 340,745 | 39,577,532 | ||||||||||
Machinery—5.6% |
| |||||||||||
Chart Industries, Inc.* | 1,104,556 | 39,454,740 | ||||||||||
Graco, Inc. | 947,349 | 42,308,606 | ||||||||||
John Bean Technologies Corp. | 571,150 | 43,830,051 | ||||||||||
Woodward, Inc. | 617,721 | 37,409,184 | ||||||||||
Oil, gas & consumable fuels—0.6% |
| |||||||||||
Viper Energy Partners LP | 1,913,390 | 17,756,259 | ||||||||||
Pharmaceuticals—1.7% |
| |||||||||||
Horizon Therapeutics PLC* | 915,539 | 32,996,026 | ||||||||||
MyoKardia, Inc.* | 110,338 | 6,931,433 | ||||||||||
Odonate Therapeutics, Inc.* | 310,537 | 8,741,616 | ||||||||||
Road & rail—2.1% |
| |||||||||||
Landstar System, Inc. | 583,979 | 60,330,870 | ||||||||||
Semiconductors & semiconductor equipment—6.2% |
| |||||||||||
Cabot Microelectronics Corp. | 252,552 | 30,947,722 | ||||||||||
Entegris, Inc. | 1,968,127 | 106,731,527 | ||||||||||
Lattice Semiconductor Corp.* | 559,700 | 12,598,847 | ||||||||||
Silicon Laboratories, Inc.* | 306,961 | 29,842,749 | ||||||||||
Software—9.5% |
| |||||||||||
Everbridge, Inc.* | 364,669 | 40,616,833 | ||||||||||
Pegasystems, Inc. | 1,047,838 | 87,620,213 | ||||||||||
Proofpoint, Inc.* | 237,463 | 28,906,371 | ||||||||||
Q2 Holdings, Inc.* | 275,000 | 21,923,000 | ||||||||||
RealPage, Inc.* | 1,481,579 | 95,547,030 | ||||||||||
Specialty retail—2.0% |
| |||||||||||
Floor & Decor Holdings, Inc., Class A* | 610,553 | 25,887,447 | ||||||||||
Genesco, Inc.* | 448,823 | 8,496,219 | ||||||||||
MarineMax, Inc.*(b) | 1,715,026 | 24,713,525 | ||||||||||
Total common stocks (cost $2,167,084,559) |
| 2,879,896,019 | ||||||||||
MONEY MARKET FUNDS—0.2% | ||||||||||||
First American Government Obligations Fund—Class X, 0.25%# | 5,500,000 | 5,500,000 | ||||||||||
Total money market funds (cost $5,500,000) | 5,500,000 | |||||||||||
Total investment portfolio (cost $2,172,584,559)—99.8% |
| 2,885,396,019 | ||||||||||
Other assets in excess of liabilities—0.2% | 6,358,349 | |||||||||||
Total net assets—100.0% | $2,891,754,368 |
*Non-income producing security
(a) All or a portion of this security was on loan as of the date of this report. The total market value of loaned securities was $5,351,500 or 0.2% of net assets as of the date of this report.
(b) Affiliated issuer. See Note 4 in the Notes to Financial Statements.
# Annualizedseven-day yield as of the date of this report. Investment made with cash collateral received for securities on loan.
8 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON EAGLE SMALL CAP GROWTH FUND(cont’d) | ||||
Sector allocation | ||||
Sector | Percent of net assets | |||
Health care | 33.9% | |||
Information technology | 23.3% | |||
Industrials | 17.6% | |||
Consumer discretionary | 10.9% | |||
Materials | 4.8% | |||
Financials | 4.1% | |||
Consumer staples | 3.8% | |||
Energy | 0.6% | |||
Real estate | 0.6% | |||
Money market funds | 0.2% |
COMMON STOCKS—91.4% | Shares | Value | ||||||||||
Japan (cont’d) |
| |||||||||||
Nitto Denko Corp. | 116,249 | $ 5,807,037 | ||||||||||
ORIX Corp. | 727,494 | 8,560,785 | ||||||||||
SYSMEX Corp. | 70,562 | 4,874,934 | ||||||||||
Tokyo Electron Ltd. | 41,257 | 8,786,958 | ||||||||||
Mexico—3.6% |
| |||||||||||
Grupo Financiero Banorte S.A.B. de C.V., Class O | 3,958,851 | 10,837,932 | ||||||||||
Wal-Mart de Mexico S.A.B. de C.V., Sponsored ADR | 326,523 | 7,970,426 | ||||||||||
Norway—1.7% |
| |||||||||||
DNB ASA | 733,321 | 8,878,985 | ||||||||||
Singapore—2.3% |
| |||||||||||
Singapore Telecommunications Ltd. | 1,907,925 | 3,812,488 | ||||||||||
United Overseas Bank Ltd. | 570,313 | 8,149,269 | ||||||||||
South Africa—1.3% |
| |||||||||||
MTN Group Ltd. | 2,547,655 | 6,694,883 | ||||||||||
Spain—1.5% |
| |||||||||||
Banco Bilbao Vizcaya Argentaria S.A. | 2,319,359 | 7,581,510 | ||||||||||
Sweden—3.3% |
| |||||||||||
Essity AB, Class B | 241,117 | 7,810,594 | ||||||||||
Sandvik AB | �� | 608,280 | 9,357,428 | |||||||||
Switzerland—9.5% |
| |||||||||||
ABB Ltd. | 256,855 | 4,875,695 | ||||||||||
Adecco Group AG | 220,045 | 9,629,330 | ||||||||||
Coca-Cola HBC AG | 350,537 | 8,882,119 | ||||||||||
Givaudan S.A. | 1,834 | 6,149,925 | ||||||||||
Nestle S.A., Sponsored ADR | 63,497 | 6,673,535 | ||||||||||
Novartis AG, Sponsored ADR | 69,449 | 5,884,414 | ||||||||||
Roche Holding AG | 20,713 | 7,172,858 | ||||||||||
Taiwan—2.5% |
| |||||||||||
Largan Precision Co. Ltd. | 60,500 | 8,246,972 | ||||||||||
MediaTek, Inc. | 356,930 | 4,928,646 | ||||||||||
Turkey—1.3% |
| |||||||||||
Tupras Turkiye Petrol Rafinerileri AS* | 513,835 | 6,672,712 | ||||||||||
United Kingdom—12.9% |
| |||||||||||
British American Tobacco PLC | 158,438 | 6,106,842 | ||||||||||
Compass Group PLC | 558,832 | 9,403,646 | ||||||||||
Diageo PLC, Sponsored ADR | 55,638 | 7,714,209 | ||||||||||
Next PLC | 168,943 | 10,058,588 | ||||||||||
Prudential PLC, Sponsored ADR(a) | 390,024 | 11,022,078 | ||||||||||
Reckitt Benckiser Group PLC | 84,888 | 7,071,113 | ||||||||||
Royal Dutch Shell PLC, Class B, Sponsored ADR | 203,967 | 6,520,825 | ||||||||||
WPP PLC | 1,136,670 | 8,819,522 | ||||||||||
United States—5.3% |
| |||||||||||
Aflac, Inc. | 274,620 | 10,226,849 | ||||||||||
Credicorp Ltd. | 63,279 | 9,429,836 | ||||||||||
Mettler-Toledo International, Inc.* | 10,549 | 7,594,647 | ||||||||||
Total common stocks (cost $406,050,512) | 472,430,881 | |||||||||||
PREFERRED STOCKS —5.6% | ||||||||||||
Colombia—1.7% | ||||||||||||
Bancolombia S.A., Sponsored ADR | 326,911 | 8,532,377 | ||||||||||
Germany—3.9% |
| |||||||||||
Henkel AG & Co. KGaA, Sponsored ADR* | 347,711 | 7,689,629 | ||||||||||
Volkswagen AG | 89,889 | 12,506,421 | ||||||||||
Total preferred stocks (cost $23,458,824) | 28,728,427 |
The accompanying notes are an integral part of the financial statements | 9 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON SCOUT INTERNATIONAL FUND(cont’d) | ||||||||||||
MONEY MARKET FUNDS—3.4% | Shares | Value | ||||||||||
First American Government Obligations Fund—Class X, 0.25%# | 17,614,129 | $ 17,614,129 | ||||||||||
Total money market funds (cost $17,614,129) | 17,614,129 | |||||||||||
Total investment portfolio (cost $447,123,465)—100.4% |
| 518,773,437 | ||||||||||
Liabilities in excess of other assets—(0.4)% | (1,962,711 | ) | ||||||||||
Total net assets—100.0% | $516,810,726 |
ADR—American Depositary Receipt
(a) All or a portion of this security was on loan as of the date of this report. The total market value of loaned securities was $16,888,316 or 3.3% of net assets as of the date of this report.
*Non-income producing security
# Annualizedseven-day yield as of the date of this report. Investment made with cash collateral received for securities on loan.
Sector allocation | ||||
Sector | Percent of net assets | |||
Financials | 25.2% | |||
Consumer staples | 14.1% | |||
Industrials | 13.3% | |||
Health care | 10.7% | |||
Consumer discretionary | 9.4% | |||
Information technology | 7.5% | |||
Energy | 6.6% | |||
Materials | 6.5% | |||
Communication services | 3.7% | |||
Money market funds | 3.4% |
COMMON STOCKS—99.6% | Shares | Value | ||||||||||
Banks (cont’d) |
| |||||||||||
SVB Financial Group* | 137,925 | $ 26,642,972 | ||||||||||
Synovus Financial Corp. | 619,875 | 13,023,574 | ||||||||||
Biotechnology—0.8% |
| |||||||||||
BioMarin Pharmaceutical, Inc.* | 206,050 | 18,960,721 | ||||||||||
Building products—1.3% |
| |||||||||||
Masco Corp. | 109,925 | 4,511,322 | ||||||||||
Owens Corning | 555,325 | 24,078,892 | ||||||||||
Capital markets—1.7% |
| |||||||||||
Evercore, Inc., Class A | 478,350 | 24,682,860 | ||||||||||
MarketAxess Holdings, Inc. | 15,475 | 7,041,280 | ||||||||||
Moody’s Corp. | 27,725 | 6,762,127 | ||||||||||
Chemicals—1.6% |
| |||||||||||
Albemarle Corp. | 122,000 | 7,494,460 | ||||||||||
CF Industries Holdings, Inc. | 252,651 | 6,947,902 | ||||||||||
Huntsman Corp. | 1,091,075 | 18,340,971 | ||||||||||
Westlake Chemical Corp. | 87,575 | 3,805,134 | ||||||||||
Commercial services & supplies—0.7% |
| |||||||||||
Copart, Inc.* | 166,325 | 13,324,296 | ||||||||||
IAA, Inc.* | 51,675 | 1,994,655 | ||||||||||
Communications equipment—2.1% |
| |||||||||||
Arista Networks, Inc.* | 88,675 | 19,446,428 | ||||||||||
Lumentum Holdings, Inc.* | 315,475 | 25,525,082 | ||||||||||
Motorola Solutions, Inc. | 14,725 | 2,117,602 | ||||||||||
Construction materials—2.5% |
| |||||||||||
Eagle Materials, Inc. | 374,500 | 22,848,245 | ||||||||||
Martin Marietta Materials, Inc. | 80,573 | 15,327,402 | ||||||||||
Vulcan Materials Co. | 150,000 | 16,945,500 | ||||||||||
Consumer finance—1.3% |
| |||||||||||
Ally Financial, Inc. | 1,557,975 | 25,535,210 | ||||||||||
LendingTree, Inc.* | 16,175 | 4,033,560 | ||||||||||
Diversified financial services—0.6% |
| |||||||||||
Voya Financial, Inc. | 310,212 | 14,012,276 | ||||||||||
Electric utilities—1.9% |
| |||||||||||
Evergy, Inc. | 275,400 | 16,091,622 | ||||||||||
Portland General Electric Co. | 465,508 | 21,781,119 | ||||||||||
Xcel Energy, Inc. | 64,900 | 4,125,044 | ||||||||||
Electrical equipment—0.7% |
| |||||||||||
Generac Holdings, Inc.* | 158,725 | 15,466,164 | ||||||||||
Electronic equipment, instruments & components—1.3% |
| |||||||||||
Cognex Corp. | 65,000 | 3,590,600 | ||||||||||
Keysight Technologies, Inc.* | 92,800 | 8,980,256 | ||||||||||
Zebra Technologies Corp., Class A* | 73,500 | 16,880,010 | ||||||||||
Energy equipment & services—1.4% |
| |||||||||||
Baker Hughes Co. | 2,237,475 | 31,212,776 | ||||||||||
Entertainment—2.0% |
| |||||||||||
Roku, Inc.* | 152,675 | 18,508,790 | ||||||||||
Zynga, Inc., Class A* | 3,369,425 | 25,405,465 | ||||||||||
Equity real estate investment trusts (REITs)—6.0% |
| |||||||||||
Agree Realty Corp. | 132,175 | 8,605,914 | ||||||||||
Americold Realty Trust | 485,700 | 14,857,563 | ||||||||||
AvalonBay Communities, Inc. | 13,875 | 2,260,931 | ||||||||||
Cousins Properties, Inc. | 229,072 | 6,911,102 | ||||||||||
Healthcare Realty Trust, Inc. | 478,950 | 14,076,341 |
10 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON SCOUT MID CAP FUND(cont’d) | ||||||||||||
COMMON STOCKS—99.6% | Shares | Value | ||||||||||
Equity real estate investment trusts (REITs) (cont’d) |
| |||||||||||
Host Hotels & Resorts, Inc. | 1,794,484 | $ 22,090,098 | ||||||||||
Lamar Advertising Co., Class A | 125,725 | 7,248,046 | ||||||||||
Mid-America Apartment Communities, Inc. | 367,125 | 41,088,630 | ||||||||||
Prologis, Inc. | 194,425 | 17,348,543 | ||||||||||
Food & staples retailing—0.3% |
| |||||||||||
Casey’s General Stores, Inc. | 37,706 | 5,709,065 | ||||||||||
Food products—1.4% |
| |||||||||||
Darling Ingredients, Inc.* | 383,071 | 7,887,432 | ||||||||||
Lamb Weston Holdings, Inc. | 199,425 | 12,236,718 | ||||||||||
Tyson Foods, Inc., Class A | 168,532 | 10,481,005 | ||||||||||
Gas utilities—2.3% |
| |||||||||||
Atmos Energy Corp. | 245,274 | 25,010,590 | ||||||||||
ONE Gas, Inc. | 335,466 | 26,739,995 | ||||||||||
Health care equipment & supplies—4.6% |
| |||||||||||
ABIOMED, Inc.* | 24,050 | 4,599,562 | ||||||||||
Align Technology, Inc.* | 19,675 | 4,227,174 | ||||||||||
DexCom, Inc.* | 13,100 | 4,391,120 | ||||||||||
Edwards Lifesciences Corp.* | 74,025 | 16,100,437 | ||||||||||
IDEXX Laboratories, Inc.* | 14,900 | 4,136,240 | ||||||||||
Insulet Corp.* | 84,875 | 16,951,235 | ||||||||||
Masimo Corp.* | 70,825 | 15,150,176 | ||||||||||
Tandem Diabetes Care, Inc.* | 77,075 | 6,149,044 | ||||||||||
Teleflex, Inc. | 94,250 | 31,611,450 | ||||||||||
Health care providers & services—1.8% |
| |||||||||||
Centene Corp.* | 295,075 | 19,646,093 | ||||||||||
Humana, Inc. | 36,502 | 13,937,194 | ||||||||||
Molina Healthcare, Inc.* | 19,097 | 3,131,335 | ||||||||||
Universal Health Services, Inc., Class B | 41,875 | 4,425,769 | ||||||||||
Hotels, restaurants & leisure—4.6% |
| |||||||||||
Chipotle Mexican Grill, Inc.* | 14,341 | 12,599,286 | ||||||||||
Darden Restaurants, Inc. | 218,550 | 16,126,804 | ||||||||||
Las Vegas Sands Corp. | 185,425 | 8,904,108 | ||||||||||
Royal Caribbean Cruises Ltd. | 818,900 | 38,299,953 | ||||||||||
Texas Roadhouse, Inc. | 257,550 | 12,128,030 | ||||||||||
Vail Resorts, Inc. | 79,550 | 13,603,050 | ||||||||||
Household durables—2.4% |
| |||||||||||
D.R. Horton, Inc. | 692,925 | 32,719,919 | ||||||||||
Garmin Ltd. | 137,700 | 11,175,732 | ||||||||||
PulteGroup, Inc. | 374,000 | 10,572,980 | ||||||||||
Household products—1.0% |
| |||||||||||
The Clorox Co. | 118,700 | 22,130,428 | ||||||||||
Industrial conglomerates—0.2% |
| |||||||||||
Carlisle Cos, Inc. | 29,450 | 3,562,272 | ||||||||||
Insurance—4.3% |
| |||||||||||
Arch Capital Group Ltd.* | 274,825 | 6,604,045 | ||||||||||
Brown & Brown, Inc. | 529,475 | 19,013,447 | ||||||||||
Lincoln National Corp. | 377,479 | 13,389,180 | ||||||||||
Marsh & McLennan Cos, Inc. | 156,625 | 15,244,311 | ||||||||||
The Hanover Insurance Group, Inc. | 111,500 | 11,192,370 | ||||||||||
The Hartford Financial Services Group, Inc. | 372,525 | 14,152,225 | ||||||||||
W.R. Berkley Corp. | 139,375 | 7,526,250 | ||||||||||
White Mountains Insurance Group Ltd. | 9,650 | 9,389,450 | ||||||||||
Interactive media & services—1.1% |
| |||||||||||
Match Group, Inc.*(a) | 182,075 | 14,012,492 | ||||||||||
Twitter, Inc.* | 377,150 | 10,816,662 |
COMMON STOCKS—99.6% | Shares | Value | ||||||||||
Internet & direct marketing retail—2.1% |
| |||||||||||
Booking Holdings, Inc.* | 18,075 | $ 26,761,303 | ||||||||||
eBay, Inc. | 363,450 | 14,476,213 | ||||||||||
Expedia Group, Inc. | 83,142 | 5,901,419 | ||||||||||
IT services—1.9% |
| |||||||||||
Black Knight, Inc.* | 198,825 | 14,031,080 | ||||||||||
DXC Technology Co. | 812,850 | 14,736,971 | ||||||||||
Paychex, Inc. | 197,775 | 13,551,543 | ||||||||||
Leisure products—0.9% |
| |||||||||||
Brunswick Corp. | 405,675 | 19,358,811 | ||||||||||
Machinery—1.8% |
| |||||||||||
AGCO Corp. | 180,525 | 9,538,941 | ||||||||||
Allison Transmission Holdings, Inc. | 140,075 | 5,090,326 | ||||||||||
The Timken Co. | 212,000 | 7,966,960 | ||||||||||
Xylem, Inc. | 261,079 | 18,771,580 | ||||||||||
Metals & mining—2.2% |
| |||||||||||
Agnico Eagle Mines Ltd. | 335,050 | 19,660,734 | ||||||||||
Kirkland Lake Gold Ltd. | 500,396 | 20,726,402 | ||||||||||
Newmont Corp. | 147,525 | 8,774,787 | ||||||||||
Mortgage real estate investment trusts (REITs)—0.7% |
| |||||||||||
AGNC Investment Corp. | 1,283,000 | 15,934,860 | ||||||||||
Multiline retail—1.0% |
| |||||||||||
Dollar General Corp. | 121,575 | 21,312,098 | ||||||||||
Multi-utilities—2.1% |
| |||||||||||
CMS Energy Corp. | 327,450 | 18,694,120 | ||||||||||
WEC Energy Group, Inc. | 309,400 | 28,016,170 | ||||||||||
Oil, gas & consumable fuels—2.0% |
| |||||||||||
Cabot Oil & Gas Corp. | 312,975 | 6,766,520 | ||||||||||
EOG Resources, Inc. | 96,341 | 4,577,161 | ||||||||||
HollyFrontier Corp. | 80,175 | 2,648,982 | ||||||||||
Marathon Petroleum Corp. | 624,225 | 20,025,138 | ||||||||||
Valero Energy Corp. | 173,875 | 11,014,981 | ||||||||||
Pharmaceuticals—0.8% |
| |||||||||||
Horizon Therapeutics PLC* | 477,900 | 17,223,516 | ||||||||||
Professional services—3.9% |
| |||||||||||
CoStar Group, Inc.* | 24,900 | 16,141,674 | ||||||||||
FTI Consulting, Inc.* | 201,300 | 25,637,568 | ||||||||||
IHS Markit Ltd. | 228,700 | 15,391,510 | ||||||||||
Robert Half International, Inc. | 477,975 | 22,593,878 | ||||||||||
Verisk Analytics, Inc. | 41,075 | 6,277,492 | ||||||||||
Road & rail—2.5% |
| |||||||||||
AMERCO | 36,500 | 10,224,745 | ||||||||||
Kansas City Southern | 171,850 | 22,435,018 | ||||||||||
Knight-Swift Transportation Holdings, Inc. | 549,200 | 20,419,256 | ||||||||||
Old Dominion Freight Line, Inc. | 15,087 | 2,191,990 | ||||||||||
Semiconductors & semiconductor equipment—6.3% |
| |||||||||||
Advanced Micro Devices, Inc.* | 270,475 | 14,170,185 | ||||||||||
Analog Devices, Inc. | 75,300 | 8,252,880 | ||||||||||
KLA Corp. | 144,800 | 23,760,232 | ||||||||||
Lam Research Corp. | 49,500 | 12,636,360 | ||||||||||
Marvell Technology Group Ltd. | 494,200 | 13,214,908 | ||||||||||
Monolithic Power Systems, Inc. | 56,750 | 11,344,893 | ||||||||||
NXP Semiconductors N.V. | 57,325 | 5,707,850 | ||||||||||
ON Semiconductor Corp.* | 145,200 | 2,329,734 | ||||||||||
Skyworks Solutions, Inc. | 292,000 | 30,332,960 |
The accompanying notes are an integral part of the financial statements | 11 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON SCOUT MID CAP FUND(cont’d) | ||||||||||||
COMMON STOCKS—99.6% | Shares | Value | ||||||||||
Semiconductors & semiconductor equipment (cont’d) |
| |||||||||||
Universal Display Corp. | 60,800 | $ 9,127,296 | ||||||||||
Xilinx, Inc. | 102,925 | 8,995,645 | ||||||||||
Software—4.7% |
| |||||||||||
Crowdstrike Holdings, Inc., Class A* | 643,050 | 43,508,763 | ||||||||||
DocuSign, Inc.* | 157,725 | 16,521,694 | ||||||||||
Proofpoint, Inc.* | 25,509 | 3,105,210 | ||||||||||
ServiceNow, Inc.* | 17,487 | 6,147,380 | ||||||||||
Splunk, Inc.* | 115,575 | 16,222,107 | ||||||||||
The Trade Desk, Inc., Class A* | 23,250 | 6,802,485 | ||||||||||
Workday, Inc., Class A* | 42,000 | 6,463,800 | ||||||||||
Zscaler, Inc.* | 103,025 | 6,910,917 | ||||||||||
Specialty retail—2.7% |
| |||||||||||
American Eagle Outfitters, Inc. | 1,207,250 | 9,597,637 | ||||||||||
Best Buy Co., Inc. | 163,250 | 12,526,173 | ||||||||||
Floor & Decor Holdings, Inc., Class A* | 753,775 | 31,960,060 | ||||||||||
O’Reilly Automotive, Inc.* | 4,250 | 1,641,945 | ||||||||||
Tractor Supply Co. | 55,800 | 5,659,794 | ||||||||||
Technology hardware, storage & peripherals—1.2% |
| |||||||||||
Pure Storage, Inc., Class A* | 1,832,675 | 26,390,520 | ||||||||||
Textiles, apparel & luxury goods—0.4% |
| |||||||||||
Lululemon Athletica, Inc.* | 39,700 | 8,872,156 | ||||||||||
Trading companies & distributors—2.3% |
| |||||||||||
United Rentals, Inc.* | 151,150 | 19,422,775 | ||||||||||
W.W. Grainger, Inc. | 115,675 | 31,877,717 | ||||||||||
Total common stocks (cost $2,049,123,948) |
| 2,222,230,290 | ||||||||||
MONEY MARKET FUNDS—0.6% |
| |||||||||||
First American Government Obligations Fund—Class X, 0.25%# | 14,053,894 | 14,053,894 | ||||||||||
Total money market funds (cost $14,053,894) |
| 14,053,894 | ||||||||||
Total investment portfolio (cost $2,063,177,842)—100.2% |
| 2,236,284,184 | ||||||||||
Liabilities in excess of other assets—(0.2)% | (4,143,678 | ) | ||||||||||
Total net assets—100.0% | $2,232,140,506 |
*Non-income producing security
(a) All or a portion of this security was on loan as of the date of this report. The total market value of loaned securities was $13,311,848 or 0.6% of net assets as of the date of this report.
# Annualizedseven-day yield as of the date of this report. Investment made with cash collateral received for securities on loan.
Sector allocation | ||||
Sector | Percent of net assets | |||
Industrials | 18.0% | |||
Information technology | 17.5% | |||
Consumer discretionary | 16.8% | |||
Financials | 11.4% | |||
Health care | 8.1% | |||
Materials | 6.3% |
Sector allocation(cont’d) | ||||
Sector | Percent of net assets | |||
Utilities | 6.3% | |||
Real estate | 6.1% | |||
Energy | 3.4% | |||
Communication services | 3.1% | |||
Consumer staples | 2.6% | |||
Money market funds | 0.6% |
12 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON SCOUT SMALL CAP FUND(cont’d) | ||||||||||||
COMMON STOCKS—97.0% | Shares | Value | ||||||||||
Equity real estate investment trusts (REITs)—2.2% |
| |||||||||||
CareTrust REIT, Inc. | 123,699 | $ 2,038,560 | ||||||||||
QTS Realty Trust, Inc., Class A | 58,168 | 3,637,245 | ||||||||||
Food & staples retailing—1.5% |
| |||||||||||
Performance Food Group Co.* | 129,838 | 3,810,745 | ||||||||||
Health care equipment & supplies—8.2% |
| |||||||||||
Cantel Medical Corp. | 48,840 | 1,807,080 | ||||||||||
ICU Medical, Inc.* | 27,885 | 6,115,459 | ||||||||||
Integer Holdings Corp.* | 50,400 | 3,752,784 | ||||||||||
Quidel Corp.* | 52,600 | 7,311,400 | ||||||||||
Varex Imaging Corp.* | 100,729 | 2,632,049 | ||||||||||
Health care providers & services—10.2% |
| |||||||||||
AMN Healthcare Services, Inc.* | 86,827 | 4,079,132 | ||||||||||
BioTelemetry, Inc.* | 106,089 | 4,955,417 | ||||||||||
HealthEquity, Inc.* | 88,106 | 4,957,725 | ||||||||||
LHC Group, Inc.* | 48,058 | 6,247,059 | ||||||||||
Molina Healthcare, Inc.* | 14,927 | 2,447,580 | ||||||||||
U.S. Physical Therapy, Inc. | 54,151 | 4,088,400 | ||||||||||
Health care technology—3.8% |
| |||||||||||
HMS Holdings Corp.* | 115,302 | 3,306,285 | ||||||||||
Omnicell, Inc.* | 91,309 | 6,656,426 | ||||||||||
Hotels, restaurants & leisure—1.8% |
| |||||||||||
Cracker Barrel Old Country Store, Inc. | 22,013 | 2,144,066 | ||||||||||
Lindblad Expeditions Holdings, Inc.* | 164,305 | 1,097,557 | ||||||||||
The Cheesecake Factory, Inc. | 65,364 | 1,456,964 | ||||||||||
Household durables—3.3% |
| |||||||||||
Installed Building Products, Inc.* | 67,322 | 3,319,648 | ||||||||||
iRobot Corp.*(a) | 35,079 | 2,138,416 | ||||||||||
LGI Homes, Inc.* | 54,255 | 3,286,768 | ||||||||||
Insurance—0.8% |
| |||||||||||
CNO Financial Group, Inc. | 140,482 | 1,975,177 | ||||||||||
Internet & direct marketing retail—1.0% |
| |||||||||||
PetMed Express, Inc.(a) | 67,564 | 2,673,507 | ||||||||||
IT services—1.0% |
| |||||||||||
Virtusa Corp.* | 80,363 | 2,651,979 | ||||||||||
Life sciences tools & services—5.7% |
| |||||||||||
Bruker Corp. | 135,742 | 5,337,375 | ||||||||||
Medpace Holdings, Inc.* | 57,925 | 4,625,891 | ||||||||||
PRA Health Sciences, Inc.* | 51,786 | 4,997,349 | ||||||||||
Machinery—4.4% |
| |||||||||||
Albany International Corp., Class A | 59,755 | 3,055,871 | ||||||||||
Chart Industries, Inc.* | 86,222 | 3,079,850 | ||||||||||
Proto Labs, Inc.* | 52,734 | 5,357,247 | ||||||||||
Metals & mining—0.3% |
| |||||||||||
Carpenter Technology Corp. | 31,634 | 701,326 | ||||||||||
Pharmaceuticals—1.2% |
| |||||||||||
Supernus Pharmaceuticals, Inc.* | 136,535 | 3,194,919 | ||||||||||
Professional services—1.3% |
| |||||||||||
Insperity, Inc. | 73,674 | 3,514,987 | ||||||||||
Semiconductors & semiconductor equipment—8.3% |
| |||||||||||
Ambarella, Inc.* | 61,070 | 3,211,060 | ||||||||||
Entegris, Inc. | 83,943 | 4,552,229 | ||||||||||
Impinj, Inc.* | 74,882 | 1,681,850 | ||||||||||
Inphi Corp.* | 42,439 | 4,097,061 |
COMMON STOCKS—97.0% | Shares | Value | ||||||||||
Semiconductors & semiconductor equipment (cont’d) |
| |||||||||||
Power Integrations, Inc. | 35,783 | $ 3,662,390 | ||||||||||
Semtech Corp.* | 101,496 | 4,591,679 | ||||||||||
Software—11.3% |
| |||||||||||
Envestnet, Inc.* | 66,503 | 4,157,768 | ||||||||||
J2 Global, Inc. | 62,726 | 5,058,225 | ||||||||||
Pegasystems, Inc. | 79,013 | 6,607,067 | ||||||||||
Qualys, Inc.* | 41,700 | 4,396,848 | ||||||||||
The Descartes Systems Group, Inc.* | 101,516 | 4,271,793 | ||||||||||
Upland Software, Inc.* | 82,000 | 2,593,660 | ||||||||||
Verint Systems, Inc.* | 59,600 | 2,547,304 | ||||||||||
Specialty retail—1.8% |
| |||||||||||
Monro, Inc. | 84,271 | 4,676,198 | ||||||||||
Textiles, apparel & luxury goods—0.4% |
| |||||||||||
G-III Apparel Group Ltd.* | 85,101 | 964,194 | ||||||||||
Thrifts & mortgage finance—0.9% |
| |||||||||||
Axos Financial, Inc.* | 106,794 | 2,461,602 | ||||||||||
Trading companies & distributors—2.2% |
| |||||||||||
Applied Industrial Technologies, Inc. | 58,100 | 3,043,859 | ||||||||||
Systemax, Inc. | 141,675 | 2,813,665 | ||||||||||
Total common stocks (cost $186,400,897) | 254,522,702 | |||||||||||
MONEY MARKET FUNDS—1.8% | ||||||||||||
First American Government Obligations Fund—Class X, 0.25%# | 4,714,784 | 4,714,784 | ||||||||||
Total money market funds (cost $4,714,784) | 4,714,784 | |||||||||||
Total investment portfolio (cost $191,115,681)—98.8% |
| 259,237,486 | ||||||||||
Other assets in excess of liabilities—1.2% | 3,150,129 | |||||||||||
Total net assets—100.0% | $262,387,615 |
*Non-income producing security
(a) All or a portion of this security was on loan as of the date of this report. The total market value of loaned securities was $4,541,869 or 1.7% of net assets as of the date of this report.
# Annualizedseven-day yield as of the date of this report. Investment made with cash collateral received for securities on loan.
Sector allocation | ||||
Sector | Percent of net assets | |||
Health care | 31.9% | |||
Information technology | 26.1% | |||
Industrials | 14.4% | |||
Consumer discretionary | 10.4% | |||
Financials | 8.3% | |||
Real estate | 2.2% | |||
Materials | 1.9% | |||
Money market funds | 1.8% | |||
Consumer staples | 1.5% | |||
Energy | 0.3% |
The accompanying notes are an integral part of the financial statements | 13 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CORPORATE BONDS—55.2% | Principal Amount | Value | ||||||||||
Banks (cont’d) |
| |||||||||||
Wells Fargo & Co., (cont’d) | ||||||||||||
3.75%, 01/24/24 | $380,000 | $404,334 | ||||||||||
(Fixed until 04/04/30, then 3 Month LIBOR USD + 3.77%), 4.48%, 04/04/31 | 2,195,000 | 2,554,682 | ||||||||||
Beverages—2.1% |
| |||||||||||
Anheuser-Busch InBev Worldwide, Inc., | ||||||||||||
3.50%, 06/01/30 | 440,000 | 469,308 | ||||||||||
4.35%, 06/01/40 | 1,455,000 | 1,589,396 | ||||||||||
4.75%, 01/23/29 | 1,775,000 | 2,047,014 | ||||||||||
Biotechnology—0.6% |
| |||||||||||
AbbVie, Inc. (3 Month LIBOR USD + 0.46%), 144A, 2.15%, 11/19/21 | 1,120,000 | 1,110,902 | ||||||||||
Capital markets—2.4% |
| |||||||||||
Morgan Stanley, | ||||||||||||
(Fixed until 01/22/30, then SOFR + 1.14%), 2.70%, 01/22/31 | 750,000 | 767,664 | ||||||||||
(Fixed until 04/01/30, then SOFR + 3.12%), 3.62%, 04/01/31 | 1,060,000 | 1,165,184 | ||||||||||
The Goldman Sachs Group, Inc., | ||||||||||||
2.60%, 02/07/30 | 1,510,000 | 1,489,648 | ||||||||||
3.50%, 04/01/25 | 1,070,000 | 1,138,067 | ||||||||||
Containers & packaging—0.5% |
| |||||||||||
Sonoco Products Co., 3.13%, 05/01/30 | 1,035,000 | 1,033,862 | ||||||||||
Diversified financial services—0.2% | ||||||||||||
GE Capital International Funding Co., 4.42%, 11/15/35 | 340,000 | 353,644 | ||||||||||
Diversified telecommunication services—2.7% |
| |||||||||||
AT&T, Inc., 3.80%, 03/01/24 | 180,000 | 192,157 | ||||||||||
4.25%, 03/01/27 | 350,000 | 385,308 | ||||||||||
4.30%, 02/15/30 | 2,110,000 | 2,377,687 | ||||||||||
4.35%, 03/01/29 | 1,215,000 | 1,365,025 | ||||||||||
Verizon Communications, Inc., 4.33%, 09/21/28 | 705,000 | 834,056 | ||||||||||
Electric—0.4% | ||||||||||||
Consolidated Edison Co. of New York, Inc., 3.35%, 04/01/30 | 210,000 | 231,192 | ||||||||||
San Diego Gas & Electric Co., 3.32%, 04/15/50 | 450,000 | 488,248 | ||||||||||
Electric utilities—0.9% |
| |||||||||||
IPALCO Enterprises, Inc., 144A, 4.25%, 05/01/30 | 895,000 | 947,026 | ||||||||||
Wisconsin Power & Light Co., 3.65%, 04/01/50 | 750,000 | 867,644 | ||||||||||
Entertainment—0.4% |
| |||||||||||
The Walt Disney Co., | ||||||||||||
4.63%, 03/23/40 | 410,000 | 507,470 | ||||||||||
4.70%, 03/23/50 | 210,000 | 277,922 | ||||||||||
Equity real estate investment trusts (REITs)—2.0% |
| |||||||||||
Alexandria Real Estate Equities, Inc., 4.90%, 12/15/30 | 665,000 | 794,019 | ||||||||||
AvalonBay Communities, Inc., 2.30%, 03/01/30 | 1,640,000 | 1,623,649 | ||||||||||
Ventas Realty LP, 4.75%, 11/15/30 | 1,345,000 | 1,396,814 | ||||||||||
Food & staples retailing—0.7% |
| |||||||||||
Sysco Corp., 5.95%, 04/01/30 | 1,150,000 | 1,352,291 | ||||||||||
Food products—0.9% |
| |||||||||||
Archer-Daniels-Midland Co., 3.25%, 03/27/30 | 1,055,000 | 1,161,082 | ||||||||||
Campbell Soup Co. (3 Month LIBOR USD + 0.63%), 1.37%, 03/15/21 | 90,000 | 89,212 | ||||||||||
General Mills, Inc., 2.88%, 04/15/30 | 500,000 | 534,089 | ||||||||||
Health care providers & services—1.7% |
| |||||||||||
CVS Health Corp., | ||||||||||||
3.25%, 08/15/29 | 585,000 | 624,769 |
14 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON REAMS CORE BOND FUND(cont’d) | ||||||||||||
CORPORATE BONDS—55.2% | Principal Amount | Value | ||||||||||
Health care providers & services (cont’d) |
| |||||||||||
CVS Health Corp., (cont’d) | ||||||||||||
3.75%, 04/01/30 | $1,665,000 | $1,848,452 | ||||||||||
4.30%, 03/25/28 | 655,000 | 738,041 | ||||||||||
Hotels, restaurants & leisure—0.4% |
| |||||||||||
McDonald’s Corp., 3.60%, 07/01/30 | 750,000 | 845,316 | ||||||||||
Industrial conglomerates—1.0% |
| |||||||||||
3M Co., 3.05%, 04/15/30 | 145,000 | 158,218 | ||||||||||
General Electric Co., | ||||||||||||
3.63%, 05/01/30 | 780,000 | 782,463 | ||||||||||
4.25%, 05/01/40 | 1,030,000 | 1,027,894 | ||||||||||
Insurance—2.3% |
| |||||||||||
Aflac, Inc., 3.60%, 04/01/30 | 1,555,000 | 1,743,621 | ||||||||||
American International Group, Inc., 4.25%, 03/15/29 | 960,000 | 1,047,826 | ||||||||||
MetLife, Inc., 4.55%, 03/23/30 | 1,355,000 | 1,611,270 | ||||||||||
Machinery—0.2% |
| |||||||||||
Deere & Co., 3.10%, 04/15/30 | 345,000 | 380,853 | ||||||||||
Media—2.7% |
| |||||||||||
Comcast Corp., 3.40%, 04/01/30 | 1,045,000 | 1,167,985 | ||||||||||
Fox Corp., 3.50%, 04/08/30 | 1,020,000 | 1,095,045 | ||||||||||
ViacomCBS, Inc., 4.95%, 01/15/31 | 2,685,000 | 2,848,348 | ||||||||||
Multiline retail—1.0% |
| |||||||||||
Dollar General Corp., 3.50%, 04/03/30 | 1,190,000 | 1,305,343 | ||||||||||
Target Corp., 2.65%, 09/15/30 | 600,000 | 642,962 | ||||||||||
Multi-utilities—1.0% |
| |||||||||||
Dominion Energy, Inc., | ||||||||||||
144A, 2.45%, 01/15/23 | 1,040,000 | 1,066,992 | ||||||||||
3.38%, 04/01/30 | 690,000 | 749,094 | ||||||||||
Oil & gas—0.9% |
| |||||||||||
BP Capital Markets America, Inc., 3.63%, 04/06/30 | 1,625,000 | 1,750,360 | ||||||||||
Oil, gas & consumable fuels—2.6% | ||||||||||||
Equinor ASA, 3.13%, 04/06/30 | 1,815,000 | 1,946,566 | ||||||||||
Exxon Mobil Corp., 3.48%, 03/19/30 | 915,000 | 1,010,278 | ||||||||||
Tennessee Gas Pipeline Co. LLC, 144A, 2.90%, 03/01/30 | 1,515,000 | 1,437,541 | ||||||||||
TransCanada PipeLines Ltd., 4.10%, 04/15/30 | 575,000 | 621,758 | ||||||||||
Pipelines—0.2% | ||||||||||||
Enterprise Products Operating LLC, 2.80%, 01/31/30 | 320,000 | 314,275 | ||||||||||
Specialty retail—0.9% |
| |||||||||||
Lowe’s Cos, Inc., 4.50%, 04/15/30 | 760,000 | 896,256 | ||||||||||
The Home Depot, Inc., 2.70%, 04/15/30 | 850,000 | 906,710 | ||||||||||
Textiles, apparel & luxury goods—0.3% |
| |||||||||||
NIKE, Inc., | ||||||||||||
2.85%, 03/27/30 | 340,000 | 369,293 | ||||||||||
3.25%, 03/27/40 | 225,000 | 243,801 | ||||||||||
Transportation—0.7% |
| |||||||||||
Burlington Northern and Santa Fe Railway Co., Pass Through Trust, | ||||||||||||
Series2001-2, 6.46%, 01/15/21 | 8,510 | 8,531 | ||||||||||
Series2004-1, 4.58%, 01/15/21 | 37,465 | 38,106 | ||||||||||
CSX Transportation, Inc., 6.25%, 01/15/23 | 205,770 | 227,851 | ||||||||||
Union Pacific Railroad Co., Pass Through Trust, | ||||||||||||
Series 2004, 5.40%, 07/02/25 | 151,806 | 158,563 | ||||||||||
Series 2005, 5.08%, 01/02/29 | 382,958 | 411,185 | ||||||||||
Series 2006, 5.87%, 07/02/30 | 343,068 | 396,825 | ||||||||||
Total corporate bonds (cost $99,383,535) |
| 105,773,130 |
MORTGAGE AND ASSET-BACKED SECURITIES—16.5% | Principal Amount | Value | ||||||||||
Asset-backed securities—3.4% |
| |||||||||||
CarMax Auto Owner Trust, | ||||||||||||
Series2020-2, Class A3, 1.70%, 11/15/24 | $1,030,000 | $1,030,000 | ||||||||||
Series2020-2, Class A4, 2.05%, 05/15/25 | 490,000 | 489,461 | ||||||||||
Hertz Vehicle Financing II LP, | ||||||||||||
Series2016-4A, Class A, 144A, 2.65%, 07/25/22 | 670,000 | 628,549 | ||||||||||
Series2017-1A, Class A, 144A, 2.96%, 10/25/21 | 515,000 | 481,533 | ||||||||||
Series2019-1A, Class A, 144A, 3.71%, 03/25/23 | 830,000 | 801,047 | ||||||||||
Hyundai Auto Receivables Trust, | ||||||||||||
Series2020-A, Class A3, 1.41%, 11/15/24 | 585,000 | 585,000 | ||||||||||
Series2020-A, Class A4, 1.72%, 06/15/26 | 190,000 | 189,791 | ||||||||||
Nissan Auto Receivables Owner Trust, | ||||||||||||
Series2020-A, Class A3, 1.38%, 12/15/24 | 1,310,000 | 1,309,869 | ||||||||||
Series2020-A, Class A4, 1.70%, 05/15/27 | 410,000 | 409,951 | ||||||||||
Toyota Auto Receivables Owner Trust, | ||||||||||||
Series2020-B, Class A3, 1.36%, 08/15/24 | 445,000 | 448,221 | ||||||||||
Series2020-B, Class A4, 1.66%, 09/15/25 | 190,000 | 192,082 | ||||||||||
Commercial mortgage-backed securities—6.0% |
| |||||||||||
BANK, Series 2018-BN10, Class A1, 2.62%, 02/17/61 | 956,892 | 962,154 | ||||||||||
CFCRE Commercial Mortgage Trust, | ||||||||||||
Series2011-C2, Class A4, 3.83%, 12/17/47 | 1,533,797 | 1,562,327 | ||||||||||
Series2016-C3, Class A3, 3.87%, 01/10/48 | 1,105,000 | 1,174,808 | ||||||||||
COMM Mortgage Trust, | ||||||||||||
Series 2013-CCRE9, Class ASB, 3.83%, 07/12/45 | 422,791 | 435,848 | ||||||||||
Series 2013-CCRE11, Class ASB, 3.66%, 08/12/50 | 589,709 | 607,354 | ||||||||||
GS Mortgage Securities Trust, | ||||||||||||
Series 2012-GCJ7, Class A4, 3.38%, 05/12/45 | 737,557 | 742,262 | ||||||||||
Series 2013-GCJ14, Class AAB, 3.82%, 08/10/46 | 233,311 | 239,896 | ||||||||||
Series 2014-GCJ22, Class A5, 3.86%, 06/10/47 | 355,000 | 377,339 | ||||||||||
JP Morgan Chase Commercial Mortgage Securities Trust, Series2012-CBX, Class A4, 3.48%, 06/16/45 | 869,200 | 881,695 | ||||||||||
JPMDB Commercial Mortgage Securities Trust,Series 2017-C5, Class A4, 3.41%, 03/15/50 | 425,000 | 455,531 | ||||||||||
LSTAR Commercial Mortgage Trust, Series2016-4, Class A3, 144A, 2.81%, 03/12/49 | 460,000 | 468,649 | ||||||||||
Morgan Stanley Bank of America Merrill Lynch Trust,Series 2015-C26, Class A3, 3.21%, 10/19/48 | 1,072,140 | 1,110,456 | ||||||||||
UBS Commercial Mortgage Trust, Series2018-C11, Class A5, VR, 4.24%, 06/16/51 | 850,000 | 960,025 | ||||||||||
Wells Fargo Commercial Trust, Series2016-C36, Class A3, 2.81%, 11/18/59 | 1,100,000 | 1,124,617 | ||||||||||
WFRBS Commercial Mortgage Trust, | ||||||||||||
Series2014-C21, Class A3, 3.43%, 08/16/47 | 28,471 | 28,803 | ||||||||||
Series2014-C21, Class A4, 3.41%, 08/16/47 | 365,000 | 381,087 | ||||||||||
Federal agency mortgage-backed obligations—7.1% |
| |||||||||||
Fannie Mae Pool, | ||||||||||||
Series 0913, Class AE, VR, 4.15%, 09/01/20 | 504,447 | 506,205 | ||||||||||
Series 1614, Class AN, 2.47%, 06/01/26 | 2,785,000 | 2,883,221 | ||||||||||
Series 1671, Class AM, 2.10%, 12/01/27 | 830,832 | 867,866 | ||||||||||
Series 2793, Class AL, VR, 4.65%, 01/01/21 | 522,832 | 532,697 | ||||||||||
Series 4018, Class MA, 2.00%, 05/01/50 | 4,088,541 | 4,149,986 | ||||||||||
Series 5796, Class AN, 3.03%, 06/01/27 | 355,000 | 380,108 | ||||||||||
Series 5872, Class BL (1 Month LIBOR USD + 0.60%), 1.59%, 02/01/30 | 800,000 | 796,808 | ||||||||||
Series 387770, 3.63%, 07/01/28 | 455,000 | 508,090 | ||||||||||
Series 465468, 3.33%, 07/01/20 | 44,090 | 44,053 | ||||||||||
FannieMae-Aces, | ||||||||||||
Series2016-M3, Class ASQ2, 2.26%, 02/25/23 | 614,234 | 624,770 | ||||||||||
Series2016-M6, Class AB2, 2.40%, 05/25/26 | 595,345 | 625,384 |
The accompanying notes are an integral part of the financial statements | 15 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON REAMS CORE BOND FUND(cont’d) | ||||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—16.5% | Principal Amount | Value | ||||||||||
Federal agency mortgage-backed obligations (cont’d) |
| |||||||||||
Freddie Mac Gold Pool, Series 15226, Class G, 4.50%, 08/01/20 (fractional amount held) | $0 | $0 | ||||||||||
Freddie Mac REMIC, Series 3609, Class LA, 4.00%, 12/15/24 | 501 | 504 | ||||||||||
Ginnie Mae I Pool, | ||||||||||||
Series 0091, Class AD, 2.73%, 06/15/32 | 1,230,396 | 1,283,091 | ||||||||||
Series 2583, Class AB, 2.14%, 08/15/23 | 416,960 | 418,796 | ||||||||||
Total mortgage and asset-backed securities (cost $31,158,403) |
| 31,699,934 | ||||||||||
FOREIGN GOVERNMENT BONDS—0.5% |
| |||||||||||
Israel Government International Bond, 2.75%, 07/03/30 | 915,000 | 960,750 | ||||||||||
Total foreign government bonds (cost $915,000) |
| 960,750 | ||||||||||
SHORT-TERM INVESTMENTS—7.8% |
| |||||||||||
Money market funds—0.1% |
| |||||||||||
First American Government Obligations Fund—Class X, 0.25%# | 96,747 | 96,747 | ||||||||||
U.S. Treasury Bills—7.7% | ||||||||||||
ZCI, 0.09%, 06/23/20 | 6,700,000 | 6,699,014 | ||||||||||
ZCI, 0.11%, 07/30/20 | 8,025,000 | 8,022,919 | ||||||||||
Total short-term investments (cost $14,818,802) | 14,818,680 | |||||||||||
Total investment portfolio (cost $146,275,740)—80.0% |
| 153,252,494 | ||||||||||
Other assets in excess of liabilities—20.0% | 38,216,392 | |||||||||||
Total net assets—100.0% | $191,468,886 |
(a) All or a portion of this security was on loan as of the date of this report. The total market value of loaned securities was $89,303 or 0.1% of net assets as of the date of this report.
# Annualizedseven-day yield as of the date of this report. Investment made with cash collateral received for securities on loan.
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. Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. Rate shown is the rate in effect as of the date of this report.
REMIC—Real estate mortgage investment conduit
ZCI—Zero coupon instrument. Rate disclosed is yield to maturity as of the date of this report.
Credit quality breakdown* | ||||
Rating | Percent of net assets | |||
AAA/Aaa/AAA | 23.2% | |||
AA/Aa/AA | 5.7% | |||
A/A/A | 33.0% | |||
BBB/Baa/BBB | 17.9% | |||
BB/Ba/BB | 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/AAA for credit quality purposes.
SWAP CONTRACTS—CREDIT DEFAULT SWAPS | ||||||||||||||||||||||||||||||||||||
Central Clearing Party | Reference Entity | Rating of Reference Entity (Moody’s/S&P) | Buy/Sell(b) Protection | Pay/Receive Fixed Rate | Fixed Rate | Expiration Date | Notional Value(c) | Value(d) | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||
Intercontinental Exchange | CDX North American Investment Grade Index Series 34 | Baa2/BBB | Sell | Receive | 1%/Quarterly | 06/20/2025 | $25,000,000 | $161,073 | $161,073 | $— | ||||||||||||||||||||||||||
Total swap contracts | $25,000,000 | $161,073 | $161,073 | $— |
There is $913,167 of initial margin due from the Fund to the broker as of the date of this report.
(b) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation of underlying securities comprising the referenced index.
(c) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(d) The prices and resulting values for credit default swap agreements on credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
16 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CORPORATE BONDS—65.8% | Principal Amount | Value | ||||||||||
Banks (cont’d) |
| |||||||||||
JPMorgan Chase & Co., (cont’d) | ||||||||||||
(Fixed until 03/24/30, then SOFR + 3.79%), 4.49%, 03/24/31 | $7,595,000 | $8,984,024 | ||||||||||
Truist Financial Corp., 2.20%, 03/16/23 | 5,070,000 | 5,184,805 | ||||||||||
Wells Fargo & Co., | ||||||||||||
(3 Month LIBOR USD + 1.23%), 1.99%, 10/31/23 | 6,390,000 | 6,364,363 | ||||||||||
(Fixed until 02/11/30, then 3 Month LIBOR USD + 1.00%), 2.57%, 02/11/31 | 7,495,000 | 7,477,316 | ||||||||||
(Fixed until 04/04/30, then 3 Month LIBOR USD + 3.77%), 4.48%, 04/04/31 | 14,800,000 | 17,225,190 | ||||||||||
Beverages—2.2% |
| |||||||||||
Anheuser-Busch InBev Worldwide, Inc., | ||||||||||||
3.50%, 06/01/30 | 1,600,000 | 1,706,573 | ||||||||||
4.35%, 06/01/40 | 5,245,000 | 5,729,472 | ||||||||||
4.75%, 01/23/29 | 6,425,000 | 7,409,614 | ||||||||||
Biotechnology—0.9% |
| |||||||||||
AbbVie, Inc. (3 Month LIBOR USD + 0.46%), 144A, 2.15%, 11/19/21 | 6,485,000 | 6,432,318 | ||||||||||
Capital markets—2.5% |
| |||||||||||
Morgan Stanley, | ||||||||||||
(Fixed until 01/22/30, then SOFR + 1.14%), 2.70%, 01/22/31 | 2,715,000 | 2,778,942 | ||||||||||
(Fixed until 04/01/30, then SOFR + 3.12%), 3.62%, 04/01/31 | 3,905,000 | 4,292,495 | ||||||||||
The Goldman Sachs Group, Inc., | ||||||||||||
2.60%, 02/07/30 | 5,385,000 | 5,312,421 | ||||||||||
3.50%, 04/01/25 | 4,255,000 | 4,525,679 | ||||||||||
Containers & packaging—0.6% |
| |||||||||||
Sonoco Products Co., 3.13%, 05/01/30 | 3,825,000 | 3,820,795 | ||||||||||
Diversified financial services—0.2% |
| |||||||||||
GE Capital International Funding Co., 4.42%, 11/15/35 | 1,250,000 | 1,300,162 | ||||||||||
Diversified telecommunication services—1.8% |
| |||||||||||
AT&T, Inc., | ||||||||||||
3.80%, 03/01/24 | 1,445,000 | 1,542,592 | ||||||||||
4.25%, 03/01/27 | 2,170,000 | 2,388,913 | ||||||||||
4.35%, 03/01/29 | 4,375,000 | 4,915,214 | ||||||||||
Verizon Communications, Inc., 4.33%, 09/21/28 | 2,795,000 | 3,306,647 | ||||||||||
Electric—0.6% |
| |||||||||||
Consolidated Edison Co. of New York, Inc., 3.35%, 04/01/30 | 1,120,000 | 1,233,025 | ||||||||||
San Diego Gas & Electric Co., 3.32%, 04/15/50 | 2,360,000 | 2,560,590 | ||||||||||
Electric utilities—1.0% |
| |||||||||||
IPALCO Enterprises, Inc., 144A, 4.25%, 05/01/30 | 3,250,000 | 3,438,921 | ||||||||||
Wisconsin Power & Light Co., 3.65%, 04/01/50 | 2,600,000 | 3,007,833 | ||||||||||
Entertainment—0.6% |
| |||||||||||
The Walt Disney Co., | ||||||||||||
4.63%, 03/23/40 | 2,125,000 | 2,630,178 | ||||||||||
4.70%, 03/23/50 | 1,100,000 | 1,455,783 | ||||||||||
Equity real estate investment trusts (REITs)—2.2% |
| |||||||||||
Alexandria Real Estate Equities, Inc., 4.90%, 12/15/30 | 3,180,000 | 3,796,965 | ||||||||||
AvalonBay Communities, Inc., 2.30%, 03/01/30 | 5,525,000 | 5,469,914 | ||||||||||
Ventas Realty LP, 4.75%, 11/15/30 | 5,280,000 | 5,483,403 | ||||||||||
Food & staples retailing—0.7% |
| |||||||||||
Sysco Corp., 5.95%, 04/01/30 | 4,270,000 | 5,021,114 |
The accompanying notes are an integral part of the financial statements | 17 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON REAMS CORE PLUS BOND FUND(cont’d) | ||||||||||||
CORPORATE BONDS—65.8% | Principal Amount | Value | ||||||||||
Food products—1.0% |
| |||||||||||
Archer-Daniels-Midland Co., 3.25%, 03/27/30 | $3,845,000 | $4,231,620 | ||||||||||
Campbell Soup Co. (3 Month LIBOR USD + 0.63%), 1.37%, 03/15/21 | 545,000 | 540,231 | ||||||||||
General Mills, Inc., 2.88%, 04/15/30 | 1,840,000 | 1,965,447 | ||||||||||
Health care providers & services—2.1% |
| |||||||||||
CVS Health Corp., | ||||||||||||
3.25%, 08/15/29 | 3,660,000 | 3,908,811 | ||||||||||
3.75%, 04/01/30 | 6,000,000 | 6,661,088 | ||||||||||
4.30%, 03/25/28 | 3,410,000 | 3,842,321 | ||||||||||
Hotels, restaurants & leisure—1.3% |
| |||||||||||
Carnival Corp., 144A, 11.50%, 04/01/23 | 5,250,000 | 5,484,604 | ||||||||||
McDonald’s Corp., 3.60%, 07/01/30 | 2,780,000 | 3,133,305 | ||||||||||
Industrial conglomerates—1.1% |
| |||||||||||
3M Co., 3.05%, 04/15/30 | 715,000 | 780,179 | ||||||||||
General Electric Co., | ||||||||||||
3.63%, 05/01/30 | 2,675,000 | 2,683,447 | ||||||||||
4.25%, 05/01/40 | 4,065,000 | 4,056,687 | ||||||||||
Insurance—2.4% |
| |||||||||||
Aflac, Inc., 3.60%, 04/01/30 | 3,870,000 | 4,339,429 | ||||||||||
American International Group, Inc., 4.25%, 03/15/29 | 3,350,000 | 3,656,474 | ||||||||||
MetLife, Inc., 4.55%, 03/23/30 | 6,945,000 | 8,258,503 | ||||||||||
Machinery—0.3% |
| |||||||||||
Deere & Co., 3.10%, 04/15/30 | 1,705,000 | 1,882,184 | ||||||||||
Media—3.0% |
| |||||||||||
Comcast Corp., 3.40%, 04/01/30 | 5,010,000 | 5,599,620 | ||||||||||
Fox Corp., 3.50%, 04/08/30 | 3,755,000 | 4,031,270 | ||||||||||
ViacomCBS, Inc., 4.95%, 01/15/31 | 9,805,000 | 10,401,510 | ||||||||||
Multiline retail—1.1% |
| |||||||||||
Dollar General Corp., 3.50%, 04/03/30 | 3,560,000 | 3,905,061 | ||||||||||
Target Corp., 2.65%, 09/15/30 | 3,165,000 | 3,391,624 | ||||||||||
Multi-utilities—1.3% |
| |||||||||||
Dominion Energy, Inc., | ||||||||||||
144A, 2.45%, 01/15/23 | 6,475,000 | 6,643,053 | ||||||||||
3.38%, 04/01/30 | 2,135,000 | 2,317,848 | ||||||||||
Oil & gas—0.9% |
| |||||||||||
BP Capital Markets America, Inc., 3.63%, 04/06/30 | 5,875,000 | 6,328,227 | ||||||||||
Oil, gas & consumable fuels—7.1% | ||||||||||||
Apache Corp., | ||||||||||||
4.38%, 10/15/28 | 660,000 | 524,642 | ||||||||||
4.75%, 04/15/43 | 2,680,000 | 1,830,749 | ||||||||||
5.10%, 09/01/40 | 645,000 | 435,071 | ||||||||||
Devon Energy Corp., | ||||||||||||
4.75%, 05/15/42 | 980,000 | 762,345 | ||||||||||
5.00%, 06/15/45 | 1,935,000 | 1,577,105 | ||||||||||
Energy Transfer Operating LP, | ||||||||||||
3.75%, 05/15/30 | 580,000 | 525,554 | ||||||||||
4.05%, 03/15/25 | 2,205,000 | 2,163,589 | ||||||||||
Equinor ASA, 3.13%, 04/06/30 | 9,435,000 | 10,118,925 | ||||||||||
Exxon Mobil Corp., 3.48%, 03/19/30 | 4,790,000 | 5,288,778 | ||||||||||
Hess Corp., | ||||||||||||
4.30%, 04/01/27 | 9,395,000 | 8,508,073 | ||||||||||
5.60%, 02/15/41 | 2,450,000 | 2,138,533 | ||||||||||
Marathon Oil Corp., 6.60%, 10/01/37 | 1,965,000 | 1,555,029 | ||||||||||
Marathon Petroleum Corp., 3.80%, 04/01/28 | 1,310,000 | 1,213,259 |
CORPORATE BONDS—65.8% | Principal Amount | Value | ||||||||||
Oil, gas & consumable fuels (cont’d) | ||||||||||||
Occidental Petroleum Corp., | ||||||||||||
3.50%, 08/15/29 | $335,000 | $234,567 | ||||||||||
6.20%, 03/15/40 | 770,000 | 550,550 | ||||||||||
6.45%, 09/15/36 | 7,095,000 | 5,179,350 | ||||||||||
Tennessee Gas Pipeline Co. LLC, 144A, 2.90%, 03/01/30 | 2,390,000 | 2,267,804 | ||||||||||
TransCanada PipeLines Ltd., 4.10%, 04/15/30 | 2,875,000 | 3,108,792 | ||||||||||
Specialty retail—1.0% |
| |||||||||||
Lowe’s Cos, Inc., 4.50%, 04/15/30 | 3,015,000 | 3,555,540 | ||||||||||
The Home Depot Inc., 2.70%, 04/15/30 | 3,135,000 | 3,344,161 | ||||||||||
Textiles, apparel & luxury goods—0.5% |
| |||||||||||
NIKE, Inc., | ||||||||||||
2.85%, 03/27/30 | 1,805,000 | 1,960,513 | ||||||||||
3.25%, 03/27/40 | 1,205,000 | 1,305,690 | ||||||||||
Transportation—0.0% |
| |||||||||||
Burlington Northern and Santa Fe Railway Co., Pass Through Trust, | ||||||||||||
Series2001-2, 6.46%, 01/15/21 | 26,518 | 26,584 | ||||||||||
Series2005-4, 4.97%, 04/01/23 | 210,485 | 220,237 | ||||||||||
Total corporate bonds (cost $408,320,072) |
| 445,331,215 | ||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—16.6% |
| |||||||||||
Asset-backed securities—4.6% |
| |||||||||||
CarMax Auto Owner Trust, | ||||||||||||
Series2020-2, Class A3, 1.70%, 11/15/24 | 3,950,000 | 3,950,000 | ||||||||||
Series2020-2, Class A4, 2.05%, 05/15/25 | 1,890,000 | 1,887,921 | ||||||||||
Hertz Vehicle Financing II LP, | ||||||||||||
Series2015-3A, Class A, 144A, 2.67%, 09/25/21 | 1,810,000 | 1,729,705 | ||||||||||
Series2016-4A, Class A, 144A, 2.65%, 07/25/22 | 3,245,000 | 3,044,241 | ||||||||||
Series2017-1A, Class A, 144A, 2.96%, 10/25/21 | 3,010,000 | 2,814,401 | ||||||||||
Series2019-1A, Class A, 144A, 3.71%, 03/25/23 | 3,855,000 | 3,720,525 | ||||||||||
Home Equity Loan Trust, Series 2006-HSA2, Class AI3, VR, 5.55%, 11/25/27 | 303,646 | 134,564 | ||||||||||
Hyundai Auto Receivables Trust, | ||||||||||||
Series2020-A, Class A3, 1.41%, 11/15/24 | 2,900,000 | 2,900,000 | ||||||||||
Series2020-A, Class A4, 1.72%, 06/15/26 | 935,000 | 933,972 | ||||||||||
Nissan Auto Receivables Owner Trust, | ||||||||||||
Series2020-A, Class A3, 1.38%, 12/15/24 | 5,060,000 | 5,059,494 | ||||||||||
Series2020-A, Class A4, 1.70%, 05/15/27 | 1,580,000 | 1,579,810 | ||||||||||
RFMSII Trust, Series 2006-HSA1, Class A4, SB, 5.99%, 02/25/36 | 482,695 | 474,026 | ||||||||||
Toyota Auto Receivables Owner Trust, | ||||||||||||
Series2020-B, Class A3, 1.36%, 08/15/24 | 2,210,000 | 2,225,998 | ||||||||||
Series2020-B, Class A4, 1.66%, 09/15/25 | 945,000 | 955,356 | ||||||||||
Commercial mortgage-backed securities—3.3% |
| |||||||||||
CFCRE Commercial Mortgage Trust, Series2016-C3, Class A3, 3.87%, 01/10/48 | 4,375,000 | 4,651,391 | ||||||||||
COMM Mortgage Trust, | ||||||||||||
Series 2013-CCRE9, Class ASB, 3.83%, 07/12/45 | 2,684,385 | 2,767,288 | ||||||||||
Series 2014-UBS5, Class A4, 3.84%, 09/12/47 | 1,890,000 | 1,998,339 | ||||||||||
Series 2015-LC19, Class A4, 3.18%, 02/10/48 | 1,055,000 | 1,103,006 | ||||||||||
GS Mortgage Securities Trust, | ||||||||||||
Series 2012-GCJ7, Class A4, 3.38%, 05/12/45 | 3,916,815 | 3,941,802 | ||||||||||
Series 2013-GCJ14, Class AAB, 3.82%, 08/10/46 | 1,468,873 | 1,510,330 | ||||||||||
JPMDB Commercial Mortgage Securities Trust, | 2,200,000 | 2,358,044 | ||||||||||
Morgan Stanley Bank of America Merrill Lynch Trust, | 4,045,344 | 4,189,916 |
18 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON REAMS CORE PLUS BOND FUND(cont’d) | ||||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—16.6% | Principal Amount | Value | ||||||||||
Federal agency mortgage-backed obligations—8.7% |
| |||||||||||
Fannie Mae Pool, | ||||||||||||
Series 0913, Class AE, VR, 4.15%, 09/01/20 | $3,610,781 | $3,623,358 | ||||||||||
Series 1614, Class AN, 2.47%, 06/01/26 | 4,500,000 | 4,658,706 | ||||||||||
Series 1671, Class AM, 2.10%, 12/01/27 | 1,609,737 | 1,681,491 | ||||||||||
Series 2793, Class AL, VR, 4.65%, 01/01/21 | 3,740,263 | 3,810,830 | ||||||||||
Series 4018, Class MA, 2.0%, 05/01/50 | 12,225,000 | 12,408,726 | ||||||||||
Series 5796, Class AN, 3.03%, 06/01/27 | 2,045,000 | 2,189,637 | ||||||||||
Series 5872, Class BL (1 Month LIBOR USD + 0.60%), 1.59%, 02/01/30 | 4,440,000 | 4,422,282 | ||||||||||
Series 387770, 3.63%, 07/01/28 | 2,495,000 | 2,786,121 | ||||||||||
Series 465468, 3.33%, 07/01/20 | 93,954 | 93,876 | ||||||||||
FannieMae-Aces, | ||||||||||||
Series2016-M3, Class ASQ2, 2.26%, 02/25/23 | 2,357,409 | 2,397,844 | ||||||||||
Series2016-M6, Class AB2, 2.40%, 05/25/26 | 2,757,542 | 2,896,679 | ||||||||||
Series2016-M7, Class AV2, 2.16%, 10/25/23 | 9,330,587 | 9,614,410 | ||||||||||
Freddie Mac Gold Pool, Series 15226, Class G, 4.50%, 08/01/20 | 1 | 1 | ||||||||||
Freddie Mac REMIC, Series 3609, Class LA, 4.00%, 12/15/24 | 2,369 | 2,381 | ||||||||||
Ginnie Mae I Pool, | ||||||||||||
Series 0091, Class AD, 2.73%, 06/15/32 | 6,761,920 | 7,051,517 | ||||||||||
Series 2583, Class AB, 2.14%, 08/15/23 | 1,079,388 | 1,084,140 | ||||||||||
Total mortgage and asset-backed securities (cost $111,198,902) |
| 112,652,128 | ||||||||||
FOREIGN GOVERNMENT BONDS—0.7% |
| |||||||||||
Israel Government International Bond, 2.75%, 07/03/30 | 4,810,000 | 5,050,500 | ||||||||||
Total foreign government bonds (cost $4,810,000) |
| 5,050,500 | ||||||||||
MONEY MARKET FUNDS—0.1% |
| |||||||||||
First American Government Obligations Fund—Class X, 0.25%# | 544,813 | 544,813 | ||||||||||
Total money market funds (cost $544,813) | 544,813 | |||||||||||
Total investment portfolio (cost $524,873,787)—83.2% |
| 563,578,656 | ||||||||||
Other assets in excess of liabilities—16.8% | 113,920,957 | |||||||||||
Total net assets—100.0% | $677,499,613 |
(a) All or a portion of this security was on loan as of the date of this report. The total market value of loaned securities was $502,896 or 0.1% of net assets as of the date of this report.
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. Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. 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
# Annualizedseven-day yield as of the date of this report. Investment made with cash collateral received for securities on loan.
Credit quality breakdown* | ||||
Rating | Percent of net assets | |||
AAA/Aaa/AAA | 14.9% | |||
AA/Aa/AA | 6.9% | |||
A/A/A | 36.0% | |||
BBB/Baa/BBB | 24.0% | |||
BB/Ba/BB | 1.2% | |||
CCC/Caa/CCC | 0.0% | |||
CC/Ca/CC | 0.0% | |||
C/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/AAA for credit quality purposes.
The accompanying notes are an integral part of the financial statements | 19 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON REAMS CORE PLUS BOND FUND(cont’d) | ||||||||||||||||||
FUTURES CONTRACTS—SHORT | ||||||||||||||||||
Description | Expiration Date | Number of Contracts | Notional Value at Trade Date | Notional Value at April 30, 2020 | Unrealized Appreciation (Depreciation) | |||||||||||||
10-Year U.S. Treasury Note | 6/19/2020 | (335 | ) | $(46,663,609) | $(46,585,938) | $77,671 |
There is no variation margin due to or from the Fund as of the date of this report.
SWAP CONTRACTS—CREDIT DEFAULT SWAPS | ||||||||||||||||||||||||||||||||||||
Central Clearing Party | Reference Entity | Rating of Reference Entity (Moody’s/S&P) | Buy/Sell(b) Protection | Pay/Receive Fixed Rate | Fixed Rate | Expiration Date | Notional Value(c) | Value(d) | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||
Intercontinental Exchange | CDX North American High Yield Index Series 34 | B2/B | Sell | Receive | 5%/Quarterly | 6/20/2025 | $111,890,000 | $(5,824,510) | $(5,474,594) | $(349,916) | ||||||||||||||||||||||||||
Total swap contracts | $111,890,000 | $(5,824,510) | $(5,474,594) | $(349,916) |
There is $47,104 of variation margin due from the broker to the Fund as of the date of this report.
(b) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation of underlying securities comprising the referenced index.
(c) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(d) The prices and resulting values for credit default swap agreements on credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
FORWARD CONTRACTS | ||||||||||||||||||||||||
Currency to be Received | Currency to be Delivered | Settlement Date | Counterparty | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||
Mexican Peso | 300,000,000 | U.S. Dollar | 12,028,869 | 6/17/2020 | J.P. Morgan | $320,998 | ||||||||||||||||||
Total forward contracts |
| $320,998 |
20 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CORPORATE BONDS—67.2% | Principal Amount | Value | ||||||||||
Banks (cont’d) | ||||||||||||
Citigroup, Inc., |
| |||||||||||
(3 Month LIBOR USD + 0.95%), 1.97%, 07/24/23 | $1,415,000 | $1,395,407 | ||||||||||
(Fixed until 01/29/30, then SOFR + 1.15%), 2.67%, 01/29/31 | 15,680,000 | 15,686,245 | ||||||||||
(Fixed until 03/31/30, then SOFR + 3.91%), 4.41%, 03/31/31 | 8,360,000 | 9,601,154 | ||||||||||
(Fixed until 03/26/40, then SOFR + 4.55%), 5.32%, 03/26/41 | 8,525,000 | 10,944,196 | ||||||||||
Credit Suisse AG | 10,560,000 | 10,268,827 | ||||||||||
Deutsche Bank AG, | 2,910,000 | 2,906,855 | ||||||||||
JPMorgan Chase & Co., |
| |||||||||||
(Fixed until 10/15/29, then SOFR + 1.51%), 2.74%, 10/15/30 | 13,390,000 | 13,804,748 | ||||||||||
(Fixed until 03/24/30, then SOFR + 3.79%), 4.49%, 03/24/31 | 5,525,000 | 6,535,448 | ||||||||||
Wells Fargo & Co., |
| |||||||||||
(3 Month LIBOR USD + 1.23%), 1.99%, 10/31/23 | 7,225,000 | 7,196,013 | ||||||||||
(Fixed until 02/11/30, then 3 Month LIBOR USD + 1.00%), 2.57%, 02/11/31 | 4,805,000 | 4,793,663 | ||||||||||
(Fixed until 04/04/30, then 3 Month LIBOR USD + 3.77%), 4.48%, 04/04/31 | 18,025,000 | 20,978,651 | ||||||||||
Beverages—1.3% | ||||||||||||
Anheuser-Busch InBev Worldwide, Inc., | ||||||||||||
3.50%, 06/01/30 | 2,240,000 | 2,389,202 | ||||||||||
4.35%, 06/01/40 | 7,365,000 | 8,045,293 | ||||||||||
Capital markets—1.6% | ||||||||||||
Morgan Stanley | 11,190,000 | 12,300,388 | ||||||||||
Consumer finance—1.1% | ||||||||||||
Ally Financial, Inc., | 8,250,000 | 8,791,695 | ||||||||||
Diversified financial services—0.5% | ||||||||||||
AerCap Ireland Capital DAC, | 2,910,000 | 2,872,931 | ||||||||||
GE Capital International Funding Co., | 1,330,000 | 1,383,373 | ||||||||||
Electric—0.4% | ||||||||||||
Consolidated Edison Co. of New York, Inc., | ||||||||||||
3.35%, 04/01/30 | 1,230,000 | 1,354,125 | ||||||||||
3.95%, 04/01/50 | 1,625,000 | 1,932,405 | ||||||||||
Electric utilities—0.1% | ||||||||||||
Edison International, | 750,000 | 813,761 | ||||||||||
Entertainment—0.3% | ||||||||||||
The Walt Disney Co., | 1,900,000 | 2,351,689 | ||||||||||
Food products—0.2% | ||||||||||||
Campbell Soup Co. | 1,280,000 | 1,268,798 | ||||||||||
Health care equipment & supplies—0.8% | ||||||||||||
Becton Dickinson and Co., | 6,700,000 | 6,698,869 |
The accompanying notes are an integral part of the financial statements | 21 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON REAMS UNCONSTRAINED BOND FUND(cont’d) | ||||||||||||
CORPORATE BONDS—67.2% | Principal Amount | Value | ||||||||||
Health care providers & services—1.2% | ||||||||||||
CVS Health Corp., | $8,200,000 | $9,177,854 | ||||||||||
Hotels, restaurants & leisure—1.2% | ||||||||||||
Carnival Corp., | 9,360,000 | 9,778,265 | ||||||||||
Industrial conglomerates—1.9% | ||||||||||||
General Electric Co., | ||||||||||||
3.63%, 05/01/30 | 3,600,000 | 3,611,368 | ||||||||||
4.25%, 05/01/40 | 4,800,000 | 4,790,184 | ||||||||||
4.63%, 01/07/21 | 6,525,000 | 6,634,352 | ||||||||||
Insurance—1.3% | ||||||||||||
MetLife, Inc., | 8,325,000 | 9,899,501 | ||||||||||
Media—1.9% | ||||||||||||
ViacomCBS, Inc., | 14,150,000 | 15,010,848 | ||||||||||
Multi-utilities—2.4% | ||||||||||||
Dominion Energy, Inc., | 18,580,000 | 19,062,227 | ||||||||||
Oil & gas—1.3% | ||||||||||||
BP Capital Markets America, Inc., | 9,690,000 | 10,437,534 | ||||||||||
Oil, gas & consumable fuels—7.3% | ||||||||||||
Apache Corp., | ||||||||||||
4.25%, 01/15/44 | 1,750,000 | 1,132,063 | ||||||||||
4.38%, 10/15/28 | 1,960,000 | 1,558,028 | ||||||||||
4.75%, 04/15/43 | 2,215,000 | 1,513,101 | ||||||||||
5.10%, 09/01/40 | 1,400,000 | 944,339 | ||||||||||
5.35%, 07/01/49 (a) | 1,665,000 | 1,167,075 | ||||||||||
Devon Energy Corp., | ||||||||||||
4.75%, 05/15/42 | 1,445,000 | 1,124,071 | ||||||||||
5.00%, 06/15/45 | 2,140,000 | 1,744,188 | ||||||||||
Energy Transfer Operating LP, | 4,562,000 | 4,476,323 | ||||||||||
Equinor ASA, | 9,805,000 | 10,515,745 | ||||||||||
Exxon Mobil Corp., | 7,230,000 | 7,982,853 | ||||||||||
Hess Corp., | ||||||||||||
4.30%, 04/01/27 | 5,110,000 | 4,627,595 | ||||||||||
5.60%, 02/15/41 | 2,295,000 | 2,003,238 | ||||||||||
Marathon Oil Corp., | ||||||||||||
2.80%, 11/01/22 | 2,505,000 | 2,357,076 | ||||||||||
4.40%, 07/15/27 | 1,510,000 | 1,170,693 | ||||||||||
6.60%, 10/01/37 | 2,010,000 | 1,590,641 | ||||||||||
Marathon Petroleum Corp., | ||||||||||||
3.80%, 04/01/28 | 920,000 | 852,060 | ||||||||||
4.70%, 05/01/25 | 2,760,000 | 2,775,549 | ||||||||||
Occidental Petroleum Corp., | ||||||||||||
3.50%, 08/15/29 | 495,000 | 346,599 | ||||||||||
6.20%, 03/15/40 | 785,000 | 561,275 | ||||||||||
6.45%, 09/15/36 | 9,455,000 | 6,902,150 | ||||||||||
TransCanada PipeLines Ltd., | 2,585,000 | 2,795,209 |
CORPORATE BONDS—67.2% | Principal Amount | Value | ||||||||||
Pharmaceuticals—2.1% | ||||||||||||
Bayer US Finance II LLC, | $3,260,000 | $3,326,344 | ||||||||||
Mylan NV, | 13,290,000 | 13,369,193 | ||||||||||
Pipelines—0.3% | ||||||||||||
Enterprise Products Operating LLC, | 2,790,000 | 2,740,084 | ||||||||||
Road & rail—0.1% | ||||||||||||
CSX Corp., | 930,000 | 1,065,762 | ||||||||||
Software—1.1% | ||||||||||||
Oracle Corp., | ||||||||||||
2.95%, 04/01/30 | 3,325,000 | 3,628,809 | ||||||||||
3.60%, 04/01/40 | 4,375,000 | 4,919,942 | ||||||||||
Specialty retail—1.4% | ||||||||||||
Lowe’s Cos, Inc., | 4,355,000 | 5,135,780 | ||||||||||
The Home Depot, Inc., | 5,595,000 | 6,091,726 | ||||||||||
Textiles, apparel & luxury goods—0.6% | ||||||||||||
NIKE, Inc., | ||||||||||||
2.85%, 03/27/30 | 2,615,000 | 2,840,299 | ||||||||||
3.25%, 03/27/40 | 1,745,000 | 1,890,813 | ||||||||||
Tobacco—1.4% | ||||||||||||
Altria Group, Inc., | 9,810,000 | 10,953,216 | ||||||||||
Total corporate bonds (cost $500,495,300) | 534,034,273 | |||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—16.1% |
| |||||||||||
Asset-backed securities—8.6% | ||||||||||||
Avis Budget Rental Car Funding AESOP LLC, | ||||||||||||
Series 2015-2A, Class A, 144A, 2.63%, 12/20/21 | 4,395,000 | 4,131,267 | ||||||||||
Series 2019-1A, Class A, 144A, 3.45%, 03/20/23 | 5,520,000 | 5,359,840 | ||||||||||
CarMax Auto Owner Trust, | ||||||||||||
Series 2020-2, Class A3, 1.70%, 11/15/24 | 5,000,000 | 5,000,000 | ||||||||||
Series 2020-2, Class A4, 2.05%, 05/15/25 | 2,400,000 | 2,397,360 | ||||||||||
Countrywide Asset-Backed Certificates, | 880,787 | 829,452 | ||||||||||
Hertz Vehicle Financing II LP, | ||||||||||||
Series 2015-3A, Class A, 144A, 2.67%, 09/25/21 | 2,725,000 | 2,604,114 | ||||||||||
Series 2016-2A, Class A, 144A, 2.95%, 03/25/22 | 6,315,000 | 5,944,178 | ||||||||||
Series 2016-4A, Class A, 144A, 2.65%, 07/25/22 | 3,895,000 | 3,654,027 | ||||||||||
Series 2017-1A, Class A, 144A, 2.96%, 10/25/21 | 12,960,000 | 12,117,820 | ||||||||||
Series 2018-1A, Class A, 144A, 3.29%, 02/25/24 | 910,000 | 848,708 | ||||||||||
Series 2019-1A, Class A, 144A, 3.71%, 03/25/23 | 6,655,000 | 6,422,852 | ||||||||||
Home Equity Loan Trust, | 3,069,178 | 1,360,143 | ||||||||||
Hyundai Auto Receivables Trust, | ||||||||||||
Series 2020-A, Class A3, 1.41%, 11/15/24 | 3,710,000 | 3,710,000 | ||||||||||
Series 2020-A, Class A4, 1.72%, 06/15/26 | 1,200,000 | 1,198,680 | ||||||||||
Nissan Auto Receivables Owner Trust, | ||||||||||||
Series 2020-A, Class A3, 1.38%, 12/15/24 | 6,410,000 | 6,409,359 | ||||||||||
Series 2020-A, Class A4, 1.70%, 05/15/27 | 2,000,000 | 1,999,760 |
22 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON REAMS UNCONSTRAINED BOND FUND(cont’d) | ||||||||||||
MORTGAGE AND ASSET-BACKED SECURITIES—16.1% | Principal Amount | Value | ||||||||||
Asset-backed securities (cont’d) | ||||||||||||
Toyota Auto Receivables Owner Trust, | ||||||||||||
Series 2020-B, Class A3, 1.36%, 08/15/24 | $2,825,000 | $2,845,450 | ||||||||||
Series 2020-B, Class A4, 1.66%, 09/15/25 | 1,210,000 | 1,223,260 | ||||||||||
Commercial mortgage-backed securities—6.3% | ||||||||||||
Citigroup Commercial Mortgage Trust, | 1,025,000 | 1,043,364 | ||||||||||
COMM Mortgage Trust, | ||||||||||||
Series 2012-CCRE4, Class ASB, 2.44%, 10/17/45 | 5,149,067 | 5,184,831 | ||||||||||
Series 2013-CCRE10, Class ASB, 3.80%, 08/10/46 | 1,281,642 | 1,322,444 | ||||||||||
GS Mortgage Securities Trust, | ||||||||||||
Series 2013-GCJ12, Class A3, 2.86%, 06/12/46 | 2,120,000 | 2,119,784 | ||||||||||
Series 2013-GCJ14, Class AAB, 3.82%, 08/10/46 | 3,121,766 | 3,209,873 | ||||||||||
JP Morgan Chase Commercial Mortgage Securities Trust, | ||||||||||||
Series 2012-C6, Class A3, 3.51%, 05/17/45 | 4,511,121 | 4,610,028 | ||||||||||
Series 2012-LC9, Class ASB, 2.44%, 12/17/47 | 6,965,113 | 7,002,472 | ||||||||||
Series 2019-MFP, Class A (1 Month LIBOR USD + 0.96%), 144A, 1.77%, 07/15/36 | 3,945,000 | 3,688,934 | ||||||||||
JPMBB Commercial Mortgage Securities Trust, | 825,000 | 873,076 | ||||||||||
Wells Fargo Commercial Mortgage Trust, | 7,888,489 | 8,166,062 | ||||||||||
WFRBS Commercial Mortgage Trust, | ||||||||||||
Series 2012-C10, Class ASB, 2.45%, 12/15/45 | 3,652,077 | 3,680,132 | ||||||||||
Series 2013-C13, Class A3, 2.75%, 05/17/45 | 4,920,766 | 5,008,640 | ||||||||||
Series 2013-C15, Class ASB, 3.72%, 08/17/46 | 2,974,290 | 3,050,539 | ||||||||||
Series 2014-C21, Class A3, 3.43%, 08/16/47 | 952,588 | 963,670 | ||||||||||
Federal agency mortgage-backed obligations—1.2% | ||||||||||||
Fannie Mae Pool, | ||||||||||||
Series 5796, Class AN, 3.03%, 06/01/27 | 4,095,000 | 4,384,627 | ||||||||||
Series 387770, 3.63%, 07/01/28 | 4,760,000 | 5,315,405 | ||||||||||
Total mortgage and asset-backed securities (cost $129,698,760) |
| 127,680,151 | ||||||||||
FOREIGN GOVERNMENT BONDS—0.6% | ||||||||||||
Israel Government International Bond, | 4,560,000 | 5,043,816 | ||||||||||
Total foreign government bonds (cost $4,560,000) |
| 5,043,816 | ||||||||||
MONEY MARKET FUNDS—0.2% | ||||||||||||
First American Government Obligations Fund—Class X, 0.25%# | 1,869,208 | 1,869,208 | ||||||||||
Total money market funds (cost $1,869,208) |
| 1,869,208 | ||||||||||
Total investment portfolio (cost $636,623,268)—84.1% |
| 668,627,448 | ||||||||||
Other assets in excess of liabilities—15.9% |
| 126,406,769 | ||||||||||
Total net assets—100.0% |
| $795,034,217 |
(a) All or a portion of this security was on loan as of the date of this report. The total market value of loaned securities was $1,839,099 or 0.2% of net assets as of the date of this report.
# Annualized seven-day yield as of the date of this report. Investment made with cash collateral received for securities on loan.
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. Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. Rate shown is the rate in effect as of the date of this report.
Credit quality breakdown* | ||||
Rating | Percent of net assets | |||
AAA/Aaa/AAA | 11.3% | |||
AA/Aa/AA | 7.3% | |||
A/A/A | 34.4% | |||
BBB/Baa/BBB | 27.2% | |||
BB/Ba/BB | 3.4% | |||
CCC/Caa/CCC | 0.1% | |||
CC/Ca/CC | 0.2% | |||
C/C/C | 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/AAA for credit quality purposes.
The accompanying notes are an integral part of the financial statements | 23 |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON REAMS UNCONSTRAINED BOND FUND | ||||||||||||||||||||
FUTURES CONTRACTS—SHORT | ||||||||||||||||||||
Description | Expiration Date | Number of Contracts | Notional Value at Trade Date | Notional Value at April 30, 2020 | Unrealized Appreciation (Depreciation) | |||||||||||||||
5-Year U.S. Treasury Note | 6/30/2020 | (2,206 | ) | $(273,775,494 | ) | $(276,818,531 | ) | $(3,043,037 | ) | |||||||||||
10-Year U.S. Treasury Note | 6/19/2020 | (2,316 | ) | (319,112,718 | ) | (322,068,750 | ) | (2,956,032 | ) | |||||||||||
Long Bond U.S. Treasury Note | 6/19/2020 | (389 | ) | (68,447,228 | ) | (70,421,156 | ) | (1,973,928 | ) | |||||||||||
Total futures contracts | $(7,972,997) |
There is $238,532 of variation margin due to the broker from the Fund as of the date of this report.
SWAP CONTRACTS—CREDIT DEFAULT SWAPS |
| |||||||||||||||||||||||||||||||||
Central Clearing Party | Reference Entity | Rating of Reference Entity (Moody’s/S&P) | Buy/Sell(b) Protection | Pay/Receive Fixed Rate | Fixed Rate | Expiration Date | Notional Value(c) | Value(d) | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
Intercontinental Exchange | CDX North American High Yield Index Series 33 | B2/B | Sell | Receive | 5%/Quarterly | 12/20/2024 | $53,488,400 | $(2,954,584 | ) | $(4,493,447 | ) | $1,538,863 | ||||||||||||||||||||||
Intercontinental Exchange | CDX North American High Yield Index Series 34 | B2/B | Sell | Receive | 5%/Quarterly | 6/20/2025 | 256,570,000 | (13,374,192 | ) | (11,882,672 | ) | (1,491,520 | ) | |||||||||||||||||||||
Total swap contracts | $310,058,400 | $(16,328,776) | $(16,376,119) | $47,343 |
There is $125,460 of variation margin due from the broker to the Fund as of the date of this report.
(b) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation of underlying securities comprising the referenced index.
(c) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(d) The prices and resulting values for credit default swap agreements on credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
24 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Investment Portfolios
(UNAUDITED) | 04.30.2020 |
CARILLON REAMS UNCONSTRAINED BOND FUND | ||||||||||||||||||||
FORWARD CONTRACTS | ||||||||||||||||||||
Currency to be Received | Currency to be Delivered | Settlement Date | Counterparty | Unrealized Appreciation (Depreciation) | ||||||||||||||||
Australian Dollar | 55,625,000 | U.S. Dollar | 36,748,730 | 5/4/2020 | J.P. Morgan | $(500,454 | ) | |||||||||||||
U.S. Dollar | 36,906,909 | Australian Dollar | 55,625,000 | 5/4/2020 | J.P. Morgan | 658,633 | ||||||||||||||
Australian Dollar | 31,760,000 | U.S. Dollar | 18,407,718 | 6/17/2020 | J.P. Morgan | 2,291,696 | ||||||||||||||
U.S. Dollar | 20,427,714 | Australian Dollar | 31,760,000 | 6/17/2020 | J.P. Morgan | (271,699 | ) | |||||||||||||
British Pound Sterling | 7,005,000 | U.S. Dollar | 9,194,973 | 5/4/2020 | J.P. Morgan | (372,126 | ) | |||||||||||||
U.S. Dollar | 9,110,423 | British Pound Sterling | 7,005,000 | 5/4/2020 | J.P. Morgan | 287,576 | ||||||||||||||
Canadian Dollar | 20,525,000 | U.S. Dollar | 14,174,234 | 6/17/2020 | J.P. Morgan | 572,718 | ||||||||||||||
U.S. Dollar | 14,777,882 | Canadian Dollar | 20,525,000 | 6/17/2020 | J.P. Morgan | 30,929 | ||||||||||||||
Euro | 8,365,000 | U.S. Dollar | 9,283,979 | 5/4/2020 | J.P. Morgan | (116,554 | ) | |||||||||||||
U.S. Dollar | 9,485,157 | Euro | 8,365,000 | 5/4/2020 | J.P. Morgan | 317,732 | ||||||||||||||
Japanese Yen | 1,010,000,000 | U.S. Dollar | 9,326,635 | 5/7/2020 | J.P. Morgan | 85,734 | ||||||||||||||
U.S. Dollar | 9,620,789 | Japanese Yen | 1,010,000,000 | 5/7/2020 | J.P. Morgan | 208,419 | ||||||||||||||
Mexican Peso | 569,874,800 | U.S. Dollar | 25,105,943 | 6/17/2020 | J.P. Morgan | (1,646,350 | ) | |||||||||||||
Total forward contracts | $1,546,254 |
The accompanying notes are an integral part of the financial statements | 25 |
Table of Contents
Statements of Assets and Liabilities
(UNAUDITED) | 04.30.2020 |
Carillon ClariVest Capital Appreciation Fund | Carillon ClariVest International Stock Fund | Carillon Cougar Tactical Allocation Fund | Carillon Eagle Growth & Income Fund | |||||||||||||
Assets | ||||||||||||||||
Investments—unaffiliated, at value (a) | $451,691,190 | $8,422,089 | $21,609,636 | $651,803,527 | ||||||||||||
Cash | 2,378,883 | 443 | 1,602,116 | 22,292,810 | ||||||||||||
Foreign currency, at value (b) | — | 282 | — | — | ||||||||||||
Receivable for investments sold | 5,227,819 | 476,387 | — | — | ||||||||||||
Receivable for fund shares sold | 627,857 | 27,044 | 54,353 | 940,302 | ||||||||||||
Receivable for dividends and interest, net | 256,142 | 50,905 | 959 | 756,395 | ||||||||||||
Receivable for foreign tax reclaims | — | 75,436 | — | 121,170 | ||||||||||||
Receivable due from adviser, net | — | 22,799 | 13,530 | — | ||||||||||||
Prepaid expenses | 21,871 | 31,049 | 32,355 | 1,178 | ||||||||||||
Total assets | 460,203,762 | 9,106,434 | 23,312,949 | 675,915,382 | ||||||||||||
Liabilities | ||||||||||||||||
Payable for borrowing on line of credit | — | 4,000 | — | — | ||||||||||||
Payable for investments purchased | — | 379,023 | — | — | ||||||||||||
Payable for fund shares redeemed | 396,645 | 46,517 | 16,462 | 918,167 | ||||||||||||
Accrued custody fees | 2,761 | 7,066 | 168 | 3,146 | ||||||||||||
Accrued investment advisory fees, net | 142,257 | — | — | 246,271 | ||||||||||||
Accrued administrative fees | 35,378 | 691 | 1,861 | 53,371 | ||||||||||||
Accrued distribution fees | 42,274 | 2,130 | 1,937 | 113,363 | ||||||||||||
Accrued transfer agent and shareholder servicing fees | 64,434 | 4,304 | 3,315 | 52,144 | ||||||||||||
Accrued professional fees | 18,799 | 20,387 | 18,807 | 19,494 | ||||||||||||
Accrued internal audit fees | 781 | 782 | 782 | 781 | ||||||||||||
Accrued trustees and officers compensation | 15,197 | 15,197 | 15,196 | 15,197 | ||||||||||||
Other accrued expenses | 17,109 | 6,556 | 1,455 | 29,277 | ||||||||||||
Total liabilities | 735,635 | 486,653 | 59,983 | 1,451,211 | ||||||||||||
Net assets | 459,468,127 | 8,619,781 | 23,252,966 | 674,464,171 | ||||||||||||
Net assets consists of | ||||||||||||||||
Paid-in capital | 241,645,722 | 10,425,360 | 22,810,193 | 516,885,897 | ||||||||||||
Total distributable earnings (loss) | 217,822,405 | (1,805,579 | ) | 442,773 | 157,578,274 | |||||||||||
Net assets | 459,468,127 | 8,619,781 | 23,252,966 | 674,464,171 | ||||||||||||
Net assets, at market value | ||||||||||||||||
Class A | 164,598,290 | 2,523,573 | 1,590,919 | 150,330,039 | ||||||||||||
Class C | 13,838,492 | 1,618,165 | 2,009,931 | 104,191,158 | ||||||||||||
Class I | 274,443,155 | 3,509,953 | 19,606,051 | 410,664,001 | ||||||||||||
Class R-3 | 445,157 | 820,371 | 11,672 | 1,165,320 | ||||||||||||
Class R-5 | 4,693,205 | 2,978 | 11,950 | 5,998,540 | ||||||||||||
Class R-6 | 1,437,794 | 136,641 | 11,999 | 2,021,259 | ||||||||||||
Class Y | 12,034 | 8,100 | 10,444 | 93,854 | ||||||||||||
NAV, offering and redemption price per share (c) | ||||||||||||||||
Class A | $43.90 | $14.35 | $15.57 | $18.84 | ||||||||||||
Class A maximum offering price (d) | 46.09 | 15.07 | 16.35 | 19.78 | ||||||||||||
Class C | 30.19 | 14.11 | 15.33 | 17.93 | ||||||||||||
Class I | 46.31 | 14.32 | 15.56 | 18.79 | ||||||||||||
Class R-3 | 41.95 | 14.18 | 15.55 | 18.77 | ||||||||||||
Class R-5 | 46.15 | 14.34 | 15.59 | 18.81 | ||||||||||||
Class R-6 | 45.96 | 14.36 | 15.60 | 18.76 | ||||||||||||
Class Y | 46.23 | 14.29 | 15.54 | 18.76 | ||||||||||||
Shares of beneficial interest outstanding | ||||||||||||||||
Class A | 3,749,707 | 175,838 | 102,180 | 7,977,284 | ||||||||||||
Class C | 458,358 | 114,713 | 131,118 | 5,810,417 | ||||||||||||
Class I | 5,926,801 | 245,047 | 1,259,796 | 21,856,309 | ||||||||||||
Class R-3 | 10,612 | 57,840 | 751 | 62,100 | ||||||||||||
Class R-5 | 101,689 | 208 | 767 | 318,946 | ||||||||||||
Class R-6 | 31,283 | 9,514 | 769 | 107,741 | ||||||||||||
Class Y | 260 | 567 | 672 | 5,003 | ||||||||||||
(a) Identified cost | $248,674,025 | $9,051,481 | $21,104,103 | $487,197,395 | ||||||||||||
(b) Cost | $— | $279 | $— | $— |
(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.
26 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Statements of Assets and Liabilities
(UNAUDITED) | 04.30.2020 |
Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Small Cap Growth Fund | Carillon Scout International Fund | Carillon Scout Mid Cap Fund | |||||||||||||
Assets | ||||||||||||||||
Investments—unaffiliated, at value (a)(b) | $5,379,986,987 | $2,775,303,685 | $518,773,437 | $2,236,284,184 | ||||||||||||
Investments—affiliated, at value (c) | — | 110,092,334 | — | — | ||||||||||||
Cash | 11,783,282 | 19,243,874 | 10,839,057 | 319,415 | ||||||||||||
Receivable for investments sold | 29,201,341 | 348,858 | — | 19,719,989 | ||||||||||||
Receivable for fund shares sold | 6,453,418 | 3,357,334 | 136,381 | 3,509,890 | ||||||||||||
Receivable for dividends and interest, net | 411,977 | 400,676 | 2,446,578 | 1,356,469 | ||||||||||||
Receivable for foreign tax reclaims | — | — | 3,474,468 | 20,763 | ||||||||||||
Prepaid expenses | 14,914 | 28,077 | 1,188 | 3,171 | ||||||||||||
Total assets | 5,427,851,919 | 2,908,774,838 | 535,671,109 | 2,261,213,881 | ||||||||||||
Liabilities | ||||||||||||||||
Payable for securities lending collateral received | 4,334,635 | 5,500,000 | 17,614,129 | 14,053,894 | ||||||||||||
Payable for investments purchased | 21,169,818 | 4,241,697 | — | 9,210,262 | ||||||||||||
Payable for fund shares redeemed | 8,158,069 | 5,135,363 | 715,396 | 3,914,178 | ||||||||||||
Accrued custody fees | 22,705 | 13,055 | 15,769 | 10,656 | ||||||||||||
Accrued investment advisory fees, net | 2,103,221 | 1,168,272 | 313,934 | 1,279,996 | ||||||||||||
Accrued administrative fees | 408,349 | 221,360 | 40,583 | 171,147 | ||||||||||||
Accrued distribution fees | 231,323 | 117,171 | 259 | 19,706 | ||||||||||||
Accrued transfer agent and shareholder servicing fees | 388,523 | 432,042 | 54,185 | 248,575 | ||||||||||||
Accrued professional fees | 19,824 | 19,496 | 20,412 | 19,506 | ||||||||||||
Accrued internal audit fees | 782 | 781 | 781 | 781 | ||||||||||||
Accrued trustees and officers compensation | 15,196 | 15,196 | 15,197 | 15,197 | ||||||||||||
Other accrued expenses | 147,703 | 156,037 | 69,738 | 129,477 | ||||||||||||
Total liabilities | 37,000,148 | 17,020,470 | 18,860,383 | 29,073,375 | ||||||||||||
Net assets | 5,390,851,771 | 2,891,754,368 | 516,810,726 | 2,232,140,506 | ||||||||||||
Net assets consists of | ||||||||||||||||
Paid-in capital | 4,280,386,380 | 2,091,852,953 | 428,033,645 | 2,241,247,954 | ||||||||||||
Total distributable earnings (loss) | 1,110,465,391 | 799,901,415 | 88,777,081 | (9,107,448 | ) | |||||||||||
Net assets | 5,390,851,771 | 2,891,754,368 | 516,810,726 | 2,232,140,506 | ||||||||||||
Net assets, at market value | ||||||||||||||||
Class A | 659,448,365 | 307,813,139 | 733,404 | 16,533,642 | ||||||||||||
Class C | 121,865,570 | 50,582,637 | 144,791 | 15,894,893 | ||||||||||||
Class I | 1,261,075,268 | 751,448,523 | 511,662,572 | 2,080,434,252 | ||||||||||||
Class R-3 | 35,979,436 | 52,893,348 | 8,254 | 2,175,824 | ||||||||||||
Class R-5 | 676,206,020 | 210,337,855 | 8,366 | 1,900,323 | ||||||||||||
Class R-6 | 2,632,512,748 | 1,518,664,088 | 4,243,824 | 96,003,929 | ||||||||||||
Class Y | 3,764,364 | 14,778 | 9,515 | 19,197,643 | ||||||||||||
NAV, offering and redemption price per share (d) | ||||||||||||||||
Class A | $61.30 | $43.04 | $14.50 | $16.12 | ||||||||||||
Class A maximum offering price (e) | 64.36 | 45.19 | 15.22 | 16.92 | ||||||||||||
Class C | 47.49 | 27.44 | 14.44 | 15.96 | ||||||||||||
Class I | 65.28 | 46.36 | 14.58 | 16.19 | ||||||||||||
Class R-3 | 59.01 | 40.89 | 14.57 | 16.06 | ||||||||||||
Class R-5 | 65.09 | 46.64 | 14.58 | 16.10 | ||||||||||||
Class R-6 | 65.83 | 47.28 | 14.56 | 16.17 | ||||||||||||
Class Y | 64.75 | 45.80 | 14.56 | 16.11 | ||||||||||||
Shares of beneficial interest outstanding | ||||||||||||||||
Class A | 10,758,498 | 7,151,285 | 50,575 | 1,025,591 | ||||||||||||
Class C | 2,565,981 | 1,843,558 | 10,027 | 995,728 | ||||||||||||
Class I | 19,316,802 | 16,207,674 | 35,091,110 | 128,534,169 | ||||||||||||
Class R-3 | 609,668 | 1,293,474 | 567 | 135,514 | ||||||||||||
Class R-5 | 10,388,843 | 4,510,280 | 574 | 118,059 | ||||||||||||
Class R-6 | 39,989,018 | 32,122,794 | 291,497 | 5,937,219 | ||||||||||||
Class Y | 58,141 | 323 | 653 | 1,191,560 | ||||||||||||
(a) Identified cost | $4,208,113,641 | $2,059,642,281 | $447,123,465 | $2,063,177,842 | ||||||||||||
(b) Includes securities on loan, at value | $4,061,358 | $5,351,500 | $16,888,316 | $13,311,848 | ||||||||||||
(c) Identified cost | $— | $112,942,278 | $— | $— |
(d) NAV amounts may not recalculate due to rounding of net assets and / or shares outstanding.
(e) The maximum offering price is computed as 100/95.25 of NAV.
The accompanying notes are an integral part of the financial statements | 27 |
Table of Contents
Statements of Assets and Liabilities
(UNAUDITED) | 04.30.2020 |
Carillon Scout Small Cap Fund | Carillon Reams Core Bond Fund | Carillon Reams Core Plus Bond Fund | Carillon Reams Unconstrained Bond Fund | |||||||||||||
Assets | ||||||||||||||||
Investments—unaffiliated, at value (a)(b) | $259,237,486 | $153,252,494 | $563,578,656 | $668,627,448 | ||||||||||||
Premiums paid—open swap contracts | — | 161,073 | — | — | ||||||||||||
Unrealized appreciation—open swap contracts | — | — | — | 1,538,863 | ||||||||||||
Unrealized appreciation—open futures contracts | — | — | 77,671 | — | ||||||||||||
Unrealized appreciation—open forward contracts | — | — | 320,998 | 4,453,437 | ||||||||||||
Cash | 1,484,446 | 45,892,211 | 69,048,743 | 64,832,210 | ||||||||||||
Deposit at broker—open swap contracts | — | 721,777 | 18,155,714 | 50,750,505 | ||||||||||||
Deposit at broker—open futures contracts | — | — | 628,358 | 17,626,723 | ||||||||||||
Segregated cash—TBA transactions | — | 310,000 | 2,797,000 | 11,217,000 | ||||||||||||
Variation margin receivable—open swap contracts | — | — | 47,104 | 125,460 | ||||||||||||
Receivable for investments sold | 507,666 | 44,803,383 | 221,402,877 | 444,118,708 | ||||||||||||
Receivable for fund shares sold | 6,552,657 | 5,402,672 | 41,058,656 | 3,057,357 | ||||||||||||
Receivable for dividends and interest, net | 9,598 | 567,121 | 2,618,304 | 4,142,732 | ||||||||||||
Receivable due from adviser, net | — | 3,630 | — | — | ||||||||||||
Prepaid expenses | 732 | 8,000 | 5,117 | 1,773 | ||||||||||||
Total assets | 267,792,585 | 251,122,361 | 919,739,198 | 1,270,492,216 | ||||||||||||
Liabilities | ||||||||||||||||
Premiums received—open swap contracts | — | — | 5,474,594 | 16,376,119 | ||||||||||||
Unrealized depreciation—open swap contracts | — | — | 349,916 | 1,491,520 | ||||||||||||
Unrealized depreciation—open futures contracts | — | — | — | 7,972,997 | ||||||||||||
Unrealized depreciation—forward contracts | — | — | — | 2,907,183 | ||||||||||||
Initial margin payable—open swap contracts | — | 913,167 | — | — | ||||||||||||
Variation margin payable—open futures contracts | — | — | — | 238,532 | ||||||||||||
Payable for securities lending collateral received | 4,714,784 | 96,747 | 544,813 | 1,869,208 | ||||||||||||
Payable for investments purchased | — | 58,436,643 | 235,583,094 | 441,127,819 | ||||||||||||
Payable for fund shares redeemed | 448,973 | 132,112 | 43,853 | 2,980,301 | ||||||||||||
Accrued custody fees | 3,029 | 1,058 | 4,020 | 4,631 | ||||||||||||
Accrued investment advisory fees, net | 104,690 | — | 74,847 | 186,211 | ||||||||||||
Accrued administrative fees | 18,985 | 11,273 | 50,783 | 64,976 | ||||||||||||
Accrued distribution fees | 5,977 | 1,517 | 3,547 | 4,720 | ||||||||||||
Accrued transfer agent and shareholder servicing fees | 57,657 | 20,996 | 64,902 | 141,198 | ||||||||||||
Accrued professional fees | 19,795 | 19,453 | 19,553 | 19,553 | ||||||||||||
Accrued internal audit fees | 781 | 781 | 781 | 781 | ||||||||||||
Accrued trustees and officers compensation | 15,196 | 15,196 | 15,196 | 15,197 | ||||||||||||
Other accrued expenses | 15,103 | 4,532 | 9,686 | 57,053 | ||||||||||||
Total liabilities | 5,404,970 | 59,653,475 | 242,239,585 | 475,457,999 | ||||||||||||
Net assets | 262,387,615 | 191,468,886 | 677,499,613 | 795,034,217 | ||||||||||||
Net assets consists of | ||||||||||||||||
Paid-in capital | 193,582,693 | 181,268,394 | 628,767,907 | 809,307,106 | ||||||||||||
Total distributable earnings (loss) | 68,804,922 | 10,200,492 | 48,731,706 | (14,272,889 | ) | |||||||||||
Net assets | 262,387,615 | 191,468,886 | 677,499,613 | 795,034,217 | ||||||||||||
Net assets, at market value | ||||||||||||||||
Class A | 9,848,412 | 1,367,231 | 574,178 | 591,309 | ||||||||||||
Class C | 5,480,892 | 697,186 | 522,310 | 398,786 | ||||||||||||
Class I | 238,243,237 | 184,120,075 | 644,271,998 | 735,716,094 | ||||||||||||
Class R-3 | 127,861 | 11,826 | 11,707 | 10,755 | ||||||||||||
Class R-5 | 61,102 | 11,985 | 11,866 | 10,900 | ||||||||||||
Class R-6 | 8,499,635 | 12,015 | 11,895 | 37,275,391 | ||||||||||||
Class Y | 126,476 | 5,248,568 | 32,095,659 | 21,030,982 | ||||||||||||
NAV, offering and redemption price per share (c) | ||||||||||||||||
Class A | $24.39 | $12.73 | $35.01 | $12.22 | ||||||||||||
Class A maximum offering price (d) | 25.61 | 13.23 | 36.37 | 12.70 | ||||||||||||
Class C | 23.91 | 12.72 | 35.04 | 12.21 | ||||||||||||
Class I | 24.54 | 12.74 | 35.09 | 12.22 | ||||||||||||
Class R-3 | 24.20 | 12.74 | 35.07 | 12.22 | ||||||||||||
Class R-5 | 24.54 | 12.74 | 35.09 | 12.22 | ||||||||||||
Class R-6 | 24.61 | 12.74 | 35.09 | 12.22 | ||||||||||||
Class Y | 24.35 | 12.74 | 35.06 | 12.28 | ||||||||||||
Shares of beneficial interest outstanding | ||||||||||||||||
Class A | 403,869 | 107,432 | 16,401 | 48,377 | ||||||||||||
Class C | 229,242 | 54,821 | 14,907 | 32,667 | ||||||||||||
Class I | 9,707,287 | 14,451,297 | 18,362,578 | 60,192,836 | ||||||||||||
Class R-3 | 5,284 | 928 | 334 | 880 | ||||||||||||
Class R-5 | 2,489 | 941 | 338 | 892 | ||||||||||||
Class R-6 | 345,328 | 943 | 339 | 3,050,215 | ||||||||||||
Class Y | 5,193 | 412,086 | 915,444 | 1,712,200 | ||||||||||||
(a) Identified cost | $191,115,681 | $146,275,740 | $524,873,787 | $636,623,268 | ||||||||||||
(b) Includes securities on loan, at value | $4,541,869 | $89,303 | $502,896 | $1,839,099 |
(c) NAV amounts may not recalculate due to rounding of net assets and / or shares outstanding.
(d) 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.
28 | The accompanying notes are an integral part of the financial statements |
Table of Contents
(UNAUDITED) | 11.01.2019 to 04.30.2020 |
Carillon ClariVest Capital Appreciation Fund | Carillon ClariVest International Stock Fund | Carillon Cougar Tactical Allocation Fund | Carillon Eagle Growth & Income Fund | |||||||||||||
Investment income | ||||||||||||||||
Dividends—unaffiliated | $3,052,511 | $149,485 | $292,011 | $10,954,318 | ||||||||||||
Less: foreign taxes withheld | — | (15,752 | ) | — | (39,822 | ) | ||||||||||
Interest | 27,447 | 618 | 6,903 | 114,971 | ||||||||||||
Securities lending, net (Note 7) | 1,264 | 15 | 2,824 | — | ||||||||||||
Total investment income | 3,081,222 | 134,366 | 301,738 | 11,029,467 | ||||||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 1,517,587 | 38,795 | 71,879 | 1,758,942 | ||||||||||||
Administrative fees: | ||||||||||||||||
Class A | 84,480 | 1,704 | 721 | 81,337 | ||||||||||||
Class C | 7,297 | 944 | 1,081 | 60,733 | ||||||||||||
Class I | 151,467 | 2,365 | 10,779 | 237,508 | ||||||||||||
Class R-3 | 290 | 447 | 6 | 775 | ||||||||||||
Class R-5 | 3,039 | 2 | 12 | 2,595 | ||||||||||||
Class R-6 | 6,351 | 75 | 6 | 7,009 | ||||||||||||
Class Y | 6 | 5 | 5 | 51 | ||||||||||||
Distribution and service fees: | ||||||||||||||||
Class A | 211,201 | 4,260 | 1,802 | 203,343 | ||||||||||||
Class C | 72,970 | 9,443 | 10,808 | 607,331 | ||||||||||||
Class R-3 | 1,450 | 2,236 | 29 | 3,877 | ||||||||||||
Class Y | 16 | 11 | 13 | 127 | ||||||||||||
Transfer agent and shareholder servicing fees: | ||||||||||||||||
Class A | 82,359 | 4,341 | 1,273 | 79,058 | ||||||||||||
Class C | 8,421 | 2,717 | 1,809 | 69,577 | ||||||||||||
Class I | 153,389 | 5,393 | 16,156 | 191,774 | ||||||||||||
Class R-3 | 1,113 | 1,201 | 39 | 1,215 | ||||||||||||
Class R-5 | 3,462 | 36 | 57 | 2,030 | ||||||||||||
Class R-6 | 502 | 139 | 36 | 541 | ||||||||||||
Class Y | 38 | 47 | 45 | 108 | ||||||||||||
Custodian fees | 8,438 | 17,025 | 442 | 10,750 | ||||||||||||
Professional fees | 47,434 | 50,072 | 46,155 | 47,783 | ||||||||||||
State registration fees | 52,677 | 46,917 | 47,041 | 66,771 | ||||||||||||
Trustees and officers compensation | 35,891 | 35,891 | 35,891 | 35,891 | ||||||||||||
Internal audit fees | 4,857 | 4,857 | 4,857 | 4,857 | ||||||||||||
Interest expense on line of credit | 16,826 | 179 | — | 635 | ||||||||||||
Other expenses | 59,560 | 27,619 | 19,969 | 81,178 | ||||||||||||
Total expenses before adjustments | 2,531,121 | 256,721 | 270,911 | 3,555,796 | ||||||||||||
Fees and expenses waived | (435,281 | ) | (175,561 | ) | (147,648 | ) | — | |||||||||
Total expenses after adjustments | 2,095,840 | 81,160 | 123,263 | 3,555,796 | ||||||||||||
Net investment income (loss) | 985,382 | 53,206 | 178,475 | 7,473,671 | ||||||||||||
Realized and unrealized gain (loss) | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments—unaffiliated | 17,091,488 | (233,500 | ) | (78,500 | ) | (7,603,989 | ) | |||||||||
Foreign currency transactions | — | 197 | — | — | ||||||||||||
Net realized gain (loss) | 17,091,488 | (233,303 | ) | (78,500 | ) | (7,603,989 | ) | |||||||||
Net change in unrealized appreciation (depreciation) on investments—unaffiliated and foreign currency translations | 3,009,460 | (1,749,428 | ) | (923,366 | ) | (80,839,808 | ) | |||||||||
Net gain (loss) on investments | 20,100,948 | (1,982,731 | ) | (1,001,866 | ) | (88,443,797 | ) | |||||||||
Net increase (decrease) in assets resulting from operations | 21,086,330 | (1,929,525 | ) | (823,391 | ) | (80,970,126 | ) |
The accompanying notes are an integral part of the financial statements | 29 |
Table of Contents
Statements of Operations
(UNAUDITED) | 11.01.2019 to 04.30.2020 |
Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Small Cap Growth Fund | Carillon Scout International Fund | Carillon Scout Mid Cap Fund | |||||||||||||
Investment income | ||||||||||||||||
Dividends—unaffiliated | $16,193,888 | $7,179,113 | $10,405,204 | $20,849,836 | ||||||||||||
Less: foreign taxes withheld | (158,650 | ) | (86,219 | ) | (935,570 | ) | (12,439 | ) | ||||||||
Interest | 287,288 | 56,179 | 57,117 | 198,751 | ||||||||||||
Securities lending, net (Note 7) | 94,573 | 103,305 | 43,411 | 171,574 | ||||||||||||
Total investment income | 16,417,099 | 7,252,378 | 9,570,162 | 21,207,722 | ||||||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 14,484,084 | 9,524,515 | 2,576,584 | 9,624,936 | ||||||||||||
Administrative fees: | ||||||||||||||||
Class A | 347,922 | 180,228 | 436 | 9,616 | ||||||||||||
Class C | 65,635 | 30,706 | 80 | 9,299 | ||||||||||||
Class I | 654,697 | 467,588 | 319,896 | 1,222,385 | ||||||||||||
Class R-3 | 20,002 | 30,124 | 5 | 1,251 | ||||||||||||
Class R-5 | 362,191 | 159,517 | 5 | 905 | ||||||||||||
Class R-6 | 1,369,883 | 962,144 | 1,647 | 49,377 | ||||||||||||
Class Y | 1,896 | 6 | 5 | 11,119 | ||||||||||||
Distribution and service fees: | ||||||||||||||||
Class A | 869,805 | 450,570 | 1,089 | 24,040 | ||||||||||||
Class C | 656,355 | 307,056 | 798 | 92,989 | ||||||||||||
Class R-3 | 100,010 | 150,621 | 24 | 6,256 | ||||||||||||
Class Y | 4,739 | 15 | 13 | 27,798 | ||||||||||||
Transfer agent and shareholder servicing fees: | ||||||||||||||||
Class A | 571,766 | 379,162 | 858 | 7,673 | ||||||||||||
Class C | 70,620 | 39,609 | 150 | 11,026 | ||||||||||||
Class I | 618,180 | 674,418 | 352,002 | 1,320,546 | ||||||||||||
Class R-3 | 36,900 | 55,739 | 32 | 1,690 | ||||||||||||
Class R-5 | 405,508 | 197,766 | 32 | 512 | ||||||||||||
Class R-6 | 70,881 | 50,756 | 280 | 2,993 | ||||||||||||
Class Y | 2,161 | 43 | 46 | 16,908 | ||||||||||||
Custodian fees | 75,451 | 50,680 | 62,621 | 40,677 | ||||||||||||
Professional fees | 47,995 | 47,789 | 49,762 | 47,814 | ||||||||||||
State registration fees | 90,234 | 70,212 | 48,109 | 83,345 | ||||||||||||
Trustees and officers compensation | 35,891 | 35,891 | 35,891 | 35,891 | ||||||||||||
Internal audit fees | 4,857 | 4,857 | 4,857 | 4,857 | ||||||||||||
Interest expense on line of credit | 16,795 | 98,429 | 2,594 | 13,267 | ||||||||||||
Other expenses | 440,701 | 359,209 | 264,859 | 294,507 | ||||||||||||
Total expenses before adjustments | 21,425,159 | 14,327,650 | 3,722,675 | 12,961,677 | ||||||||||||
Fees and expenses waived | — | (21 | ) | (18,295 | ) | — | ||||||||||
Total expenses after adjustments | 21,425,159 | 14,327,629 | 3,704,380 | 12,961,677 | ||||||||||||
Net investment income (loss) | (5,008,060 | ) | (7,075,251 | ) | 5,865,782 | 8,246,045 | ||||||||||
Realized and unrealized gain (loss) | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments—unaffiliated | (39,700,236 | ) | 129,244,774 | 37,912,333 | (148,346,631 | ) | ||||||||||
Investments—affiliated | — | (779,309 | ) | — | — | |||||||||||
Foreign currency transactions | — | — | 64,056 | — | ||||||||||||
Net realized gain (loss) | (39,700,236 | ) | 128,465,465 | 37,976,389 | (148,346,631 | ) | ||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments—unaffiliated and foreign currency translations | (14,246,408 | ) | (208,521,162 | ) | (159,530,413 | ) | (177,512,202 | ) | ||||||||
Investments —affiliated | — | (41,388,680 | ) | — | — | |||||||||||
Net change in unrealized appreciation (depreciation) | (14,246,408 | ) | (249,909,842 | ) | (159,530,413 | ) | (177,512,202 | ) | ||||||||
Net gain (loss) on investments | (53,946,644 | ) | (121,444,377 | ) | (121,554,024 | ) | (325,858,833 | ) | ||||||||
Net increase (decrease) in assets resulting from operations | (58,954,704 | ) | (128,519,628 | ) | (115,688,242 | ) | (317,612,788 | ) |
30 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Statements of Operations
(UNAUDITED) | 11.01.2019 to 04.30.2020 |
Carillon Scout Small Cap Fund | Carillon Reams Core Bond Fund | Carillon Reams Core Plus Bond Fund | Carillon Reams Unconstrained Bond Fund | |||||||||||||
Investment income | ||||||||||||||||
Dividends—unaffiliated | $1,116,880 | $— | $— | $— | ||||||||||||
Less: foreign taxes withheld | (1,733 | ) | — | — | — | |||||||||||
Interest | 8,681 | 1,321,988 | 7,377,404 | 10,487,845 | ||||||||||||
Securities lending, net (Note 7) | 14,741 | 364 | 1,844 | 1,219 | ||||||||||||
Total investment income | 1,138,569 | 1,322,352 | 7,379,248 | 10,489,064 | ||||||||||||
Expenses | ||||||||||||||||
Investment advisory fees | 900,351 | 230,611 | 1,238,908 | 2,656,974 | ||||||||||||
Administrative fees: | ||||||||||||||||
Class A | 5,777 | 587 | 218 | 232 | ||||||||||||
Class C | 3,378 | 361 | 170 | 165 | ||||||||||||
Class I | 138,148 | 55,845 | 302,469 | 413,698 | ||||||||||||
Class R-3 | 92 | 5 | 5 | 5 | ||||||||||||
Class R-5 | 33 | 6 | 6 | 5 | ||||||||||||
Class R-6 | 2,579 | 6 | 6 | 17,718 | ||||||||||||
Class Y | 51 | 844 | 6,853 | 11,005 | ||||||||||||
Distribution and service fees: | ||||||||||||||||
Class A | 14,443 | 1,467 | 545 | 581 | ||||||||||||
Class C | 33,782 | 3,609 | 1,705 | 1,653 | ||||||||||||
Class R-3 | 460 | 28 | 27 | 26 | ||||||||||||
Class Y | 128 | 2,109 | 17,133 | 27,514 | ||||||||||||
Transfer agent and shareholder servicing fees: | ||||||||||||||||
Class A | 7,459 | 551 | 306 | 208 | ||||||||||||
Class C | 5,721 | 460 | 372 | 257 | ||||||||||||
Class I | 183,432 | 69,687 | 285,867 | 470,021 | ||||||||||||
Class R-3 | 357 | 33 | 32 | 32 | ||||||||||||
Class R-5 | 70 | 33 | 32 | 32 | ||||||||||||
Class R-6 | 668 | 35 | 32 | 1,106 | ||||||||||||
Class Y | 92 | 1,390 | 10,916 | 29,131 | ||||||||||||
Custodian fees | 9,941 | 4,041 | 10,985 | 14,048 | ||||||||||||
Professional fees | 47,926 | 50,514 | 50,564 | 50,564 | ||||||||||||
State registration fees | 47,697 | 46,222 | 48,095 | 52,389 | ||||||||||||
Trustees and officers compensation | 35,891 | 35,891 | 35,891 | 35,891 | ||||||||||||
Internal audit fees | 4,857 | 4,857 | 4,857 | 4,857 | ||||||||||||
Interest expense on line of credit | 11 | — | — | — | ||||||||||||
Other expenses | 50,261 | 33,430 | 61,478 | 65,034 | ||||||||||||
Total expenses before adjustments | 1,493,605 | 542,622 | 2,077,472 | 3,853,146 | ||||||||||||
Fees and expenses waived | (19,470 | ) | (302,097 | ) | (808,278 | ) | (1,621,241 | ) | ||||||||
Total expenses after adjustments | 1,474,135 | 240,525 | 1,269,194 | 2,231,905 | ||||||||||||
Net investment income (loss) | (335,566 | ) | 1,081,827 | 6,110,054 | 8,257,159 | |||||||||||
Realized and unrealized gain (loss) on investments | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments—unaffiliated | 1,999,231 | 4,108,060 | 19,717,883 | 15,213,291 | ||||||||||||
Swap contracts | — | (920,036 | ) | (9,087,860 | ) | (26,325,987 | ) | |||||||||
Futures contracts | — | — | (494,815 | ) | (2,036,705 | ) | ||||||||||
Net realized gain (loss) | 1,999,231 | 3,188,024 | 10,135,208 | (13,149,401 | ) | |||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments—unaffiliated | (35,403,613 | ) | 5,919,167 | 31,738,089 | 24,780,755 | |||||||||||
Swap contracts | — | (31,198 | ) | (808,034 | ) | (728,014 | ) | |||||||||
Futures contracts | — | — | 77,671 | (7,972,997 | ) | |||||||||||
Forward contracts | — | — | 320,998 | 1,546,254 | ||||||||||||
Net change in unrealized appreciation (depreciation) | (35,403,613 | ) | 5,887,969 | 31,328,724 | 17,625,998 | |||||||||||
Net gain (loss) on investments | (33,404,382 | ) | 9,075,993 | 41,463,932 | 4,476,597 | |||||||||||
Net increase (decrease) in assets resulting from operations | (33,739,948 | ) | 10,157,820 | 47,573,986 | 12,733,756 |
The accompanying notes are an integral part of the financial statements | 31 |
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 | |||||||||||||||||||||||||||||
11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | 11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | 11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | 11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | |||||||||||||||||||||||||
Net assets, beginning of period | $552,809,713 | $452,343,541 | $12,352,406 | $17,491,910 | $25,553,104 | $23,810,421 | $850,678,567 | $592,140,185 | ||||||||||||||||||||||||
Increase (decrease) in net assets from operations | ||||||||||||||||||||||||||||||||
Net investment income (loss) | 985,382 | 2,523,269 | 53,206 | 222,009 | 178,475 | 271,819 | 7,473,671 | 14,911,761 | ||||||||||||||||||||||||
Net realized gain (loss) | 17,091,488 | 4,505,900 | (233,303 | ) | (851,392 | ) | (78,500 | ) | 17,336 | (7,603,989 | ) | 24,773,723 | ||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 3,009,460 | 52,288,810 | (1,749,428 | ) | 983,171 | (923,366 | ) | 954,295 | (80,839,808 | ) | 47,967,429 | |||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 21,086,330 | 59,317,979 | (1,929,525 | ) | 353,788 | (823,391 | ) | 1,243,450 | (80,970,126 | ) | 87,652,913 | |||||||||||||||||||||
Distributions to shareholders from earnings | (9,404,632 | ) | (38,346,397 | ) | (264,615 | ) | (226,694 | ) | (337,380 | ) | (971,271 | ) | (32,359,985 | ) | (57,617,605 | ) | ||||||||||||||||
Fund share transactions | ||||||||||||||||||||||||||||||||
Proceeds from shares sold-Class A | 2,062,852 | 5,995,063 | 190,436 | 423,485 | 271,927 | 921,462 | 16,441,985 | 43,252,391 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 2,701,879 | 14,420,308 | 82,285 | 62,051 | 15,097 | 62,281 | 6,127,022 | 12,430,046 | ||||||||||||||||||||||||
Cost of shares redeemed-Class A | (13,138,480 | ) | (30,212,063 | ) | (949,882 | ) | (1,707,774 | ) | (63,347 | ) | (888,350 | ) | (19,782,671 | ) | (35,852,999 | ) | ||||||||||||||||
Proceeds from shares sold-Class C | 923,978 | 1,315,907 | 60,800 | 237,888 | 150,850 | 561,491 | 7,331,517 | 33,380,533 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 283,954 | 2,149,574 | 31,319 | 6,532 | 9,536 | 72,560 | 3,450,529 | 8,829,180 | ||||||||||||||||||||||||
Cost of shares redeemed-Class C | (2,700,663 | ) | (7,479,457 | ) | (131,614 | ) | (898,057 | ) | (384,263 | ) | (410,332 | ) | (22,810,997 | ) | (40,692,709 | ) | ||||||||||||||||
Proceeds from shares sold-Class I | 47,567,332 | 155,541,570 | 203,467 | 697,228 | 3,976,196 | 9,391,942 | 89,638,154 | 273,711,615 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 5,798,006 | 16,869,014 | 127,407 | 142,992 | 311,171 | 829,258 | 15,788,432 | 22,258,860 | ||||||||||||||||||||||||
Cost of shares redeemed-Class I | (98,738,755 | ) | (78,934,381 | ) | (1,226,089 | ) | (4,265,472 | ) | (5,400,404 | ) | (9,072,825 | ) | (114,202,035 | ) | (97,370,486 | ) | ||||||||||||||||
Proceeds from shares sold-ClassR-3 | 33,371 | 132,432 | 50,532 | 111,137 | — | — | 127,181 | 510,803 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-3 | 10,905 | 121,423 | 18,661 | 10,790 | 104 | 389 | 50,999 | 139,639 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-3 | (394,505 | ) | (865,530 | ) | (4,891 | ) | (111,988 | ) | — | — | (420,728 | ) | (913,152 | ) | ||||||||||||||||||
Proceeds from shares sold-ClassR-5 | 387,840 | 695,534 | — | — | — | — | 3,216,785 | 3,200,340 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-5 | 132,614 | 617,839 | 86 | 55 | 522 | 1,386 | 196,387 | 93,954 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-5 | (3,320,723 | ) | (1,564,900 | ) | — | — | (25,525 | ) | — | (295,926 | ) | (235,829 | ) | |||||||||||||||||||
Proceeds from shares sold-ClassR-6 | 2,217,488 | 5,764,310 | 13,407 | 93,880 | — | — | 1,195,059 | 7,467,358 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-6 | 21,772 | 3,552,645 | 3,942 | 2,790 | 182 | 464 | 89,841 | 4,010,119 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-6 | (48,872,421 | ) | (8,625,540 | ) | (8,525 | ) | (49,457 | ) | — | — | (49,028,072 | ) | (5,755,881 | ) | ||||||||||||||||||
Proceeds from shares sold-Class Y | 1,526 | — | — | — | — | 358 | — | 34,263 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 213 | 842 | 174 | 527 | 113 | 420 | 4,140 | 6,433 | ||||||||||||||||||||||||
Cost of shares redeemed-Class Y | (1,467 | ) | — | — | (23,205 | ) | (1,526 | ) | — | (1,887 | ) | (1,404 | ) | |||||||||||||||||||
Net increase (decrease) from fund share transactions | (105,023,284 | ) | 79,494,590 | (1,538,485 | ) | (5,266,598 | ) | (1,139,367 | ) | 1,470,504 | (62,884,285 | ) | 228,503,074 | |||||||||||||||||||
Increase (decrease) in net assets | (93,341,586 | ) | 100,466,172 | (3,732,625 | ) | (5,139,504 | ) | (2,300,138 | ) | 1,742,683 | (176,214,396 | ) | 258,538,382 | |||||||||||||||||||
Net assets, end of period | 459,468,127 | 552,809,713 | 8,619,781 | 12,352,406 | 23,252,966 | 25,553,104 | 674,464,171 | 850,678,567 | ||||||||||||||||||||||||
Shares issued and redeemed | ||||||||||||||||||||||||||||||||
Shares sold-Class A | 48,261 | 150,187 | 11,164 | 25,697 | 17,135 | 58,779 | 812,382 | 2,103,271 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 59,697 | 418,344 | 4,651 | 4,085 | 943 | 4,386 | 296,474 | 655,237 | ||||||||||||||||||||||||
Shares redeemed-Class A | (304,028 | ) | (749,991 | ) | (60,899 | ) | (103,178 | ) | (4,003 | ) | (57,846 | ) | (991,298 | ) | (1,735,153 | ) | ||||||||||||||||
Shares sold-Class C | 32,495 | 50,273 | 3,796 | 15,003 | 9,818 | 36,690 | 376,421 | 1,706,254 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 9,095 | 89,491 | 1,796 | 436 | 603 | 5,172 | 172,960 | 491,799 | ||||||||||||||||||||||||
Shares redeemed-Class C | (90,139 | ) | (270,123 | ) | (8,492 | ) | (55,550 | ) | (24,709 | ) | (26,808 | ) | (1,189,754 | ) | (2,062,943 | ) | ||||||||||||||||
Shares sold-Class I | 1,048,227 | 3,816,356 | 12,375 | 42,739 | 252,283 | 607,814 | 4,414,357 | 13,591,459 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 121,577 | 464,967 | 7,223 | 9,445 | 19,460 | 58,481 | 765,061 | 1,164,921 | ||||||||||||||||||||||||
Shares redeemed-Class I | (2,143,625 | ) | (1,883,557 | ) | (82,822 | ) | (268,953 | ) | (373,775 | ) | (600,008 | ) | (6,071,634 | ) | (4,704,516 | ) | ||||||||||||||||
Shares sold-ClassR-3 | 818 | 3,429 | 3,548 | 6,764 | — | — | 6,260 | 24,802 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-3 | 252 | 3,683 | 1,066 | 717 | 7 | 27 | 2,463 | 7,441 | ||||||||||||||||||||||||
Shares redeemed-ClassR-3 | (8,766 | ) | (22,762 | ) | (323 | ) | (6,702 | ) | — | — | (23,660 | ) | (44,225 | ) | ||||||||||||||||||
Shares sold-ClassR-5 | 9,194 | 16,366 | — | — | — | — | 149,720 | 158,948 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-5 | 2,790 | 17,086 | 5 | 4 | 33 | 97 | 9,728 | 4,693 | ||||||||||||||||||||||||
Shares redeemed-ClassR-5 | (69,767 | ) | (36,977 | ) | — | — | (1,589 | ) | — | (15,485 | ) | (11,165 | ) | |||||||||||||||||||
Shares sold-ClassR-6 | 47,648 | 134,360 | 879 | 5,634 | — | — | 56,450 | 359,577 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-6 | 460 | 98,794 | 223 | 184 | 11 | 33 | 4,389 | 211,987 | ||||||||||||||||||||||||
Shares redeemed-ClassR-6 | (1,020,356 | ) | (204,614 | ) | (481 | ) | (2,943 | ) | — | — | (2,214,705 | ) | (277,991 | ) | ||||||||||||||||||
Shares sold-Class Y | 32 | — | — | — | — | 24 | — | 1,710 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 4 | 23 | 10 | 35 | 7 | 30 | 201 | 339 | ||||||||||||||||||||||||
Shares redeemed-Class Y | (32 | ) | — | — | (1,411 | ) | (95 | ) | — | (91 | ) | (66 | ) | |||||||||||||||||||
Shares issued and redeemed | (2,256,163 | ) | 2,095,335 | (106,281 | ) | (327,994 | ) | (103,871 | ) | 86,871 | (3,439,761 | ) | 11,646,379 |
(†) The data for fiscal periods ending after October 31, 2019 is unaudited.
32 | The accompanying notes are an integral part of the financial statements |
Table of Contents
Statements of Changes in Net Assets
Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Small Cap Growth Fund | Carillon Scout International Fund | Carillon Scout Mid Cap Fund | |||||||||||||||||||||||||||||
11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | 11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | 11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | 11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | |||||||||||||||||||||||||
Net assets, beginning of period | $5,675,842,664 | $4,288,006,813 | $4,117,406,587 | $4,690,834,343 | $715,148,809 | $824,165,611 | $2,862,557,939 | $2,473,689,157 | ||||||||||||||||||||||||
Increase (decrease) in net assets from operations | ||||||||||||||||||||||||||||||||
Net investment income (loss) | (5,008,060 | ) | (8,591,625 | ) | (7,075,251 | ) | (15,150,904 | ) | 5,865,782 | 15,169,395 | 8,246,045 | 20,151,083 | ||||||||||||||||||||
Net realized gain (loss) on investments | (39,700,236 | ) | 123,317,339 | 128,465,465 | 248,591,626 | 37,976,389 | 37,690,423 | (148,346,631 | ) | 3,783,838 | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | (14,246,408 | ) | 655,109,300 | (249,909,842 | ) | (72,462,599 | ) | (159,530,413 | ) | 27,132,087 | (177,512,202 | ) | 193,088,500 | |||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | (58,954,704 | ) | 769,835,014 | (128,519,628 | ) | 160,978,123 | (115,688,242 | ) | 79,991,905 | (317,612,788 | ) | 217,023,421 | ||||||||||||||||||||
Distributions to shareholders from earnings | (123,370,282 | ) | (115,636,951 | ) | (247,721,477 | ) | (819,288,090 | ) | (54,505,922 | ) | (79,149,615 | ) | (21,249,113 | ) | (174,260,790 | ) | ||||||||||||||||
Fund share transactions | ||||||||||||||||||||||||||||||||
Proceeds from shares sold-Class A | 67,863,775 | 149,870,260 | 37,818,223 | 82,875,477 | 121,970 | 605,683 | 3,997,158 | 17,372,240 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 15,165,127 | 16,656,129 | 23,572,114 | 88,342,880 | 71,457 | 39,756 | 119,596 | 680,334 | ||||||||||||||||||||||||
Cost of shares redeemed-Class A | (121,769,530 | ) | (220,452,039 | ) | (108,390,668 | ) | (239,113,443 | ) | (172,091 | ) | (121,010 | ) | (6,282,546 | ) | (4,532,454 | ) | ||||||||||||||||
Proceeds from shares sold-Class C | 5,063,089 | 15,417,218 | 1,988,049 | 6,865,364 | 28,090 | 76,977 | 2,352,565 | 12,452,237 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 3,676,590 | 4,521,836 | 5,954,687 | 24,802,823 | 12,118 | 6,071 | 12,987 | 634,558 | ||||||||||||||||||||||||
Cost of shares redeemed-Class C | (17,468,216 | ) | (45,413,694 | ) | (16,411,564 | ) | (49,091,124 | ) | (606 | ) | (1,757 | ) | (4,120,838 | ) | (2,283,129 | ) | ||||||||||||||||
Proceeds from shares sold-Class I | 156,763,727 | 319,640,361 | 79,811,457 | 233,491,705 | 20,254,178 | 32,665,725 | 279,939,423 | 937,504,332 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 25,368,163 | 25,270,730 | 49,532,802 | 184,393,203 | 53,198,974 | 77,119,092 | 18,594,321 | 156,438,374 | ||||||||||||||||||||||||
Cost of shares redeemed-Class I | (201,482,794 | ) | (314,949,731 | ) | (318,951,381 | ) | (547,561,594 | ) | (103,325,478 | ) | (220,685,962 | ) | (585,922,842 | ) | (865,852,084 | ) | ||||||||||||||||
Proceeds from shares sold-ClassR-3 | 4,599,679 | 17,221,529 | 4,553,450 | 9,836,552 | — | — | 219,872 | 1,330,563 | ||||||||||||||||||||||||
Issued as reinvestment ofdistributions-Class R-3 | 971,697 | 1,120,588 | 4,243,529 | 14,806,775 | 730 | 851 | 10,274 | 105,258 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-3 | (13,366,916 | ) | (13,886,923 | ) | (15,349,409 | ) | (30,926,085 | ) | — | — | (445,110 | ) | (291,022 | ) | ||||||||||||||||||
Proceeds from shares sold-ClassR-5 | 84,684,458 | 286,083,806 | 30,679,803 | 83,728,573 | — | — | 362,362 | 1,400,239 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-5 | 15,871,744 | 18,246,315 | 21,905,962 | 72,168,324 | 788 | 906 | 16,330 | 50,544 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-5 | (162,657,106 | ) | (284,656,227 | ) | (165,789,838 | ) | (176,886,905 | ) | — | — | (259,633 | ) | (203,270 | ) | ||||||||||||||||||
Proceeds from shares sold-ClassR-6 | 415,173,979 | 1,122,124,295 | 144,477,420 | 496,286,719 | 2,267,518 | 466,748 | 45,246,343 | 86,049,187 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-6 | 56,868,257 | 44,732,630 | 126,082,974 | 372,738,335 | 277,069 | 280,424 | 562,662 | 978,574 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-6 | (438,352,487 | ) | (410,926,375 | ) | (755,142,939 | ) | (541,821,604 | ) | (879,789 | ) | (314,128 | ) | (44,600,703 | ) | (15,093,366 | ) | ||||||||||||||||
Proceeds from shares sold-Class Y | 800,070 | 3,466,375 | 3,460 | 360 | 300 | 600 | 1,713,703 | 21,322,462 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 81,660 | 9,465 | 755 | 14,071 | 853 | 932 | 122,653 | 177,896 | ||||||||||||||||||||||||
Cost of shares redeemed-Class Y | (520,873 | ) | (458,760 | ) | — | (68,195 | ) | — | — | (3,194,109 | ) | (2,135,322 | ) | |||||||||||||||||||
Net increase (decrease) from fund share transactions | (102,665,907 | ) | 733,637,788 | (849,411,114 | ) | 84,882,211 | (28,143,919 | ) | (109,859,092 | ) | (291,555,532 | ) | 346,106,151 | |||||||||||||||||||
Increase (decrease) in net assets | (284,990,893 | ) | 1,387,835,851 | (1,225,652,219 | ) | (573,427,756 | ) | (198,338,083 | ) | (109,016,802 | ) | (630,417,433 | ) | 388,868,782 | ||||||||||||||||||
Net assets, end of period | 5,390,851,771 | 5,675,842,664 | 2,891,754,368 | 4,117,406,587 | 516,810,726 | 715,148,809 | 2,232,140,506 | 2,862,557,939 | ||||||||||||||||||||||||
Shares issued and redeemed | ||||||||||||||||||||||||||||||||
Shares sold-Class A | 1,120,206 | 2,573,310 | 829,735 | 1,709,879 | 7,770 | 34,920 | 234,695 | 1,001,989 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 232,025 | 341,244 | 479,303 | 2,178,079 | 3,840 | 2,537 | 6,348 | 43,527 | ||||||||||||||||||||||||
Shares redeemed-Class A | (1,984,338 | ) | (3,761,254 | ) | (2,331,556 | ) | (4,913,621 | ) | (11,674 | ) | (6,781 | ) | (345,888 | ) | (269,259 | ) | ||||||||||||||||
Shares sold-Class C | 103,484 | 341,110 | 66,442 | 224,070 | 1,506 | 4,628 | 133,066 | 718,346 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 72,417 | 117,725 | 189,459 | 918,283 | 652 | 387 | 694 | 40,755 | ||||||||||||||||||||||||
Shares redeemed-Class C | (368,260 | ) | (989,884 | ) | (556,907 | ) | (1,534,614 | ) | (32 | ) | (102 | ) | (246,788 | ) | (130,549 | ) | ||||||||||||||||
Shares sold-Class I | 2,409,404 | 5,153,503 | 1,688,682 | 4,541,370 | 1,212,868 | 1,846,546 | 16,683,363 | 52,828,057 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 364,852 | 488,890 | 936,171 | 4,257,520 | 2,844,865 | 4,905,795 | 984,347 | 9,983,304 | ||||||||||||||||||||||||
Shares redeemed-Class I | (3,131,669 | ) | (5,068,053 | ) | (6,557,738 | ) | (10,631,906 | ) | (6,268,206 | ) | (12,492,475 | ) | (34,598,459 | ) | (48,811,854 | ) | ||||||||||||||||
Shares sold-ClassR-3 | 76,775 | 308,444 | 108,326 | 212,369 | — | — | 13,873 | 73,791 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-3 | 15,426 | 23,736 | 90,751 | 381,815 | 39 | 54 | 547 | 6,743 | ||||||||||||||||||||||||
Shares redeemed-ClassR-3 | (220,208 | ) | (240,471 | ) | (344,080 | ) | (649,392 | ) | — | — | (25,876 | ) | (16,330 | ) | ||||||||||||||||||
Shares sold-ClassR-5 | 1,283,376 | 4,712,937 | 623,990 | 1,592,680 | — | — | 22,989 | 76,441 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-5 | 228,930 | 353,954 | 411,611 | 1,657,518 | 43 | 57 | 869 | 3,240 | ||||||||||||||||||||||||
Shares redeemed-ClassR-5 | (2,461,189 | ) | (4,669,976 | ) | (3,496,509 | ) | (3,331,120 | ) | — | — | (14,774 | ) | (10,999 | ) | ||||||||||||||||||
Shares sold-ClassR-6 | 6,158,509 | 18,089,177 | 2,864,429 | 9,347,746 | 157,552 | 25,977 | 2,507,131 | 4,766,178 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-6 | 811,360 | 859,416 | 2,337,900 | 8,463,631 | 14,848 | 17,862 | 29,818 | 62,529 | ||||||||||||||||||||||||
Shares redeemed-ClassR-6 | (6,854,190 | ) | (6,448,150 | ) | (14,673,712 | ) | (10,139,830 | ) | (48,872 | ) | (17,299 | ) | (2,469,215 | ) | (830,850 | ) | ||||||||||||||||
Shares sold-Class Y | 13,092 | 56,218 | 78 | 7 | 17 | 34 | 103,763 | 1,293,956 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 1,183 | 184 | 14 | 327 | 46 | 59 | 6,514 | 11,389 | ||||||||||||||||||||||||
Shares redeemed-Class Y | (8,789 | ) | (6,965 | ) | — | (1,383 | ) | — | — | (205,085 | ) | (118,999 | ) | |||||||||||||||||||
Shares issued and redeemed | (2,137,604 | ) | 12,235,095 | (17,333,611 | ) | 4,283,428 | (2,084,738 | ) | (5,677,801 | ) | (17,178,068 | ) | 20,721,405 |
(†) The data for fiscal periods ending after October 31, 2019 is unaudited.
The accompanying notes are an integral part of the financial statements | 33 |
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 | |||||||||||||||||||||||||||||
11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | 11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | 11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | 11/1/19 to 4/30/20 (†) | 11/1/18 to 10/31/19 | |||||||||||||||||||||||||
Net assets, beginning of period | $323,732,772 | $318,969,196 | $108,352,118 | $107,564,645 | $649,680,517 | $624,870,862 | $964,643,184 | $1,249,199,294 | ||||||||||||||||||||||||
Increase (decrease) in net assets from operations | ||||||||||||||||||||||||||||||||
Net investment income (loss) | (335,566 | ) | (320,862 | ) | 1,081,827 | 2,394,550 | 6,110,054 | 14,271,092 | 8,257,159 | 23,930,110 | ||||||||||||||||||||||
Net realized gain (loss) on investments | 1,999,231 | 12,479,345 | 3,188,024 | 5,768,160 | 10,135,208 | 36,923,017 | (13,149,401 | ) | 28,456,765 | |||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | (35,403,613 | ) | 1,002,226 | 5,887,969 | 3,393,104 | 31,328,724 | 23,166,614 | 17,625,998 | 41,096,541 | |||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | (33,739,948 | ) | 13,160,709 | 10,157,820 | 11,555,814 | 47,573,986 | 74,360,723 | 12,733,756 | 93,483,416 | |||||||||||||||||||||||
Distributions to shareholders from earnings | (12,635,960 | ) | (657,924 | ) | (3,401,385 | ) | (2,463,393 | ) | (19,808,077 | ) | (14,343,374 | ) | (13,114,703 | ) | (24,665,538 | ) | ||||||||||||||||
Fund share transactions | ||||||||||||||||||||||||||||||||
Proceeds from shares sold-Class A | 502,260 | 7,411,050 | 578,163 | 571,422 | 155,301 | 187,050 | 316,980 | 324,405 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 476,303 | 31,811 | 34,632 | 17,697 | 11,640 | 5,045 | 5,492 | 4,566 | ||||||||||||||||||||||||
Cost of shares redeemed-Class A | (1,728,940 | ) | (7,527,063 | ) | (480,909 | ) | (131,777 | ) | (8,586 | ) | (37,717 | ) | (106,064 | ) | (62,239 | ) | ||||||||||||||||
Proceeds from shares sold-Class C | 117,653 | 1,350,532 | 143,950 | 1,121,581 | 175,488 | 312,688 | 315,300 | 459,641 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 285,548 | 27,270 | 18,019 | 5,896 | 7,491 | 3,235 | 3,892 | 1,157 | ||||||||||||||||||||||||
Cost of shares redeemed-Class C | (1,723,961 | ) | (8,147,278 | ) | (194,478 | ) | (775,179 | ) | (45,259 | ) | (183,659 | ) | (414,903 | ) | (19,997 | ) | ||||||||||||||||
Proceeds from shares sold-Class I | 28,651,573 | 54,088,211 | 91,536,658 | 23,571,860 | 104,586,118 | 112,444,658 | 158,358,519 | 295,156,955 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 11,185,863 | 565,176 | 3,300,905 | 2,400,119 | 15,802,476 | 11,126,545 | 10,971,825 | 21,289,450 | ||||||||||||||||||||||||
Cost of shares redeemed-Class I | (55,042,152 | ) | (56,296,076 | ) | (22,353,932 | ) | (34,559,030 | ) | (138,507,805 | ) | (153,849,611 | ) | (340,533,549 | ) | (657,106,310 | ) | ||||||||||||||||
Proceeds from shares sold-ClassR-3 | 13,992 | 37,892 | — | — | — | �� | — | — | — | |||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-3 | 8,966 | 488 | 298 | 174 | 308 | 165 | 121 | 160 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-3 | (134,835 | ) | (98,300 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Proceeds from shares sold-ClassR-5 | — | 3,002 | — | — | — | — | — | — | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-5 | 2,651 | 134 | 331 | 233 | 342 | 223 | 152 | 218 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-5 | (120 | ) | (3,311 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Proceeds from shares sold-ClassR-6 | 5,203,088 | 2,777,859 | — | — | — | — | 6,896,483 | 22,626,297 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-6 | 231,607 | 11,144 | 337 | 244 | 348 | 233 | 509,554 | 970,352 | ||||||||||||||||||||||||
Cost of shares redeemed-ClassR-6 | (3,055,318 | ) | (1,965,342 | ) | — | — | — | — | (3,833,611 | ) | (21,639,898 | ) | ||||||||||||||||||||
Proceeds from shares sold-Class Y | 35,300 | 3,600 | 3,892,912 | 193,117 | 18,833,852 | 593,484 | 3,639,551 | 2,927,850 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 3,252 | 182 | 39,909 | 33,109 | 394,387 | 277,388 | 285,003 | 493,361 | ||||||||||||||||||||||||
Cost of shares redeemed-Class Y | (1,979 | ) | (10,190 | ) | (156,462 | ) | (754,414 | ) | (1,352,914 | ) | (6,087,421 | ) | (5,642,765 | ) | (18,799,956 | ) | ||||||||||||||||
Net increase (decrease) from fund share transactions | (14,969,249 | ) | (7,739,209 | ) | 76,360,333 | (8,304,948 | ) | 53,187 | (35,207,694 | ) | (169,228,020 | ) | (353,373,988 | ) | ||||||||||||||||||
Increase (decrease) in net assets | (61,345,157 | ) | 4,763,576 | 83,116,768 | 787,473 | 27,819,096 | 24,809,655 | (169,608,967 | ) | (284,556,110 | ) | |||||||||||||||||||||
Net assets, end of period | 262,387,615 | 323,732,772 | 191,468,886 | 108,352,118 | 677,499,613 | 649,680,517 | 795,034,217 | 964,643,184 | ||||||||||||||||||||||||
Shares issued and redeemed | ||||||||||||||||||||||||||||||||
Shares sold-Class A | 19,166 | 279,787 | 49,050 | 49,914 | 4,613 | 5,751 | 26,410 | 27,717 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class A | 16,813 | 1,330 | 2,944 | 1,529 | 357 | 157 | 459 | 385 | ||||||||||||||||||||||||
Shares redeemed-Class A | (75,327 | ) | (293,490 | ) | (40,450 | ) | (11,334 | ) | (259 | ) | (1,148 | ) | (8,689 | ) | (5,333 | ) | ||||||||||||||||
Shares sold-Class C | 4,383 | 51,424 | 12,044 | 98,165 | 5,049 | 9,788 | 26,275 | 38,241 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class C | 10,249 | 1,149 | 1,535 | 512 | 230 | 102 | 325 | 97 | ||||||||||||||||||||||||
Shares redeemed-Class C | (66,014 | ) | (300,548 | ) | (16,479 | ) | (68,221 | ) | (1,364 | ) | (5,767 | ) | (34,429 | ) | (1,692 | ) | ||||||||||||||||
Shares sold-Class I | 1,094,664 | 1,925,338 | 7,293,690 | 2,027,255 | 3,085,913 | 3,513,449 | 13,173,895 | 24,964,493 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class I | 392,624 | 23,549 | 280,089 | 208,199 | 483,680 | 348,300 | 914,413 | 1,808,310 | ||||||||||||||||||||||||
Shares redeemed-Class I | (2,251,028 | ) | (2,030,634 | ) | (1,853,867 | ) | (2,998,974 | ) | (4,199,357 | ) | (4,800,994 | ) | (28,747,540 | ) | (55,435,030 | ) | ||||||||||||||||
Shares sold-ClassR-3 | 530 | 1,461 | — | — | — | — | — | — | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-3 | 319 | 20 | 25 | 15 | 10 | 5 | 10 | 13 | ||||||||||||||||||||||||
Shares redeemed-ClassR-3 | (4,783 | ) | (3,478 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Shares sold-ClassR-5 | — | 103 | — | — | — | — | — | — | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-5 | 93 | 6 | 29 | 20 | 10 | 7 | 13 | 18 | ||||||||||||||||||||||||
Shares redeemed-ClassR-5 | (5 | ) | (112 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Shares sold-ClassR-6 | 227,340 | 97,225 | — | — | — | — | 570,712 | 1,949,189 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-ClassR-6 | 8,109 | 464 | 29 | 21 | 11 | 7 | 42,532 | 82,237 | ||||||||||||||||||||||||
Shares redeemed-ClassR-6 | (109,455 | ) | (69,710 | ) | — | — | — | — | (332,669 | ) | (1,801,962 | ) | ||||||||||||||||||||
Shares sold-Class Y | 1,662 | 131 | 306,956 | 16,714 | 539,435 | 18,488 | 303,109 | 245,994 | ||||||||||||||||||||||||
Issued as reinvestment of distributions-Class Y | 115 | 8 | 3,389 | 2,876 | 12,084 | 8,716 | 23,649 | 41,785 | ||||||||||||||||||||||||
Shares redeemed-Class Y | (69 | ) | (350 | ) | (12,668 | ) | (64,335 | ) | (40,768 | ) | (190,593 | ) | (486,847 | ) | (1,596,829 | ) | ||||||||||||||||
Shares issued and redeemed | (730,614 | ) | (316,327 | ) | 6,026,316 | (737,644 | ) | (110,356 | ) | (1,093,732 | ) | (14,528,372 | ) | (29,682,367 | ) |
(†) The data for fiscal periods ending after October 31, 2019 is unaudited.
34 | The accompanying notes are an integral part of the financial statements |
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | $43.14 | $0.04 | $1.44 | $1.48 | $ | (0.13 | ) | $ | (0.59 | ) | $— | $ | (0.72 | ) | $43.90 | 1.00 | 1.14 | 0.20 | 11 | 3.38 | $165 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 42.91 | 0.14 | 3.75 | 3.89 | (0.06 | ) | (3.60 | ) | — | (3.66 | ) | 43.14 | 1.00 | 1.14 | 0.34 | 49 | 11.23 | 170 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 29.87 | (0.08 | ) | 0.99 | 0.91 | — | (0.59 | ) | — | (0.59 | ) | 30.19 | 1.75 | 1.91 | (0.55 | ) | 11 | 2.98 | 14 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 31.12 | (0.11 | ) | 2.46 | 2.35 | — | (3.60 | ) | — | (3.60 | ) | 29.87 | 1.75 | 1.90 | (0.39 | ) | 49 | 10.38 | 15 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 45.52 | 0.12 | 1.52 | 1.64 | (0.26 | ) | (0.59 | ) | — | (0.85 | ) | 46.31 | 0.70 | 0.89 | 0.51 | 11 | 3.55 | 274 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 45.09 | 0.26 | 3.97 | 4.23 | (0.20 | ) | (3.60 | ) | — | (3.80 | ) | 45.52 | 0.70 | 0.90 | 0.61 | 49 | 11.54 | 314 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 41.18 | (0.01 | ) | 1.37 | 1.36 | — | (0.59 | ) | — | (0.59 | ) | 41.95 | 1.25 | 1.67 | (0.04 | ) | 11 | 3.26 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 41.17 | 0.05 | 3.56 | 3.61 | — | (3.60 | ) | — | (3.60 | ) | 41.18 | 1.25 | 1.58 | 0.12 | 49 | 10.96 | 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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 45.37 | 0.11 | 1.52 | 1.63 | (0.26 | ) | (0.59 | ) | — | (0.85 | ) | 46.15 | 0.70 | 0.90 | 0.50 | 11 | 3.53 | 5 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 44.97 | 0.27 | 3.94 | 4.21 | (0.21 | ) | (3.60 | ) | — | (3.81 | ) | 45.37 | 0.70 | 0.90 | 0.64 | 49 | 11.53 | 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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 45.16 | 0.23 | 1.46 | 1.69 | (0.30 | ) | (0.59 | ) | — | (0.89 | ) | 45.96 | 0.60 | 0.78 | 1.00 | 11 | 3.69 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 44.77 | 0.31 | 3.93 | 4.24 | (0.25 | ) | (3.60 | ) | — | (3.85 | ) | 45.16 | 0.60 | 0.80 | 0.73 | 49 | 11.67 | 45 | |||||||||||||||||||||||||||||||||||||||||||||
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 45.42 | 0.05 | 1.50 | 1.55 | (0.15 | ) | (0.59 | ) | — | (0.74 | ) | 46.23 | 1.00 | 1.59 | 0.20 | 11 | 3.36 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 44.90 | 0.14 | 3.99 | 4.13 | (0.01 | ) | (3.60 | ) | — | (3.61 | ) | 45.42 | 1.00 | 1.73 | 0.33 | 49 | 11.23 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 17.47 | 0.07 | (2.81 | ) | (2.74 | ) | (0.38 | ) | — | — | (0.38 | ) | 14.35 | 1.45 | 4.58 | 0.88 | 33 | (16.11 | ) | 3 | |||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 16.92 | 0.28 | 0.49 | 0.77 | (0.22 | ) | — | — | (0.22 | ) | 17.47 | 1.45 | 4.12 | 1.67 | 43 | 4.74 | 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 |
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 ClariVest International Stock Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | $ 17.14 | $ 0.02 | $ | (2.78 | ) | $ | (2.76 | ) | $ | (0.27 | ) | $ — | $ — | $ | (0.27 | ) | $ 14.11 | 2.20 | 5.40 | 0.28 | 33 | (16.42 | ) | $ 2 | |||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 16.53 | 0.15 | 0.51 | 0.66 | (0.05 | ) | — | — | (0.05 | ) | 17.14 | 2.20 | 4.91 | 0.90 | 43 | 4.01 | 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 | |||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 17.46 | 0.11 | (2.83 | ) | (2.72 | ) | (0.42 | ) | — | — | (0.42 | ) | 14.32 | 1.15 | 4.32 | 1.29 | 33 | (16.02 | ) | 4 | |||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 16.92 | 0.31 | 0.51 | 0.82 | (0.28 | ) | — | — | (0.28 | ) | 17.46 | 1.15 | 3.82 | 1.88 | 43 | 5.07 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 17.27 | 0.07 | (2.81 | ) | (2.74 | ) | (0.35 | ) | — | — | (0.35 | ) | 14.18 | 1.70 | 4.89 | 0.83 | 33 | (16.26 | ) | 1 | |||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 16.74 | 0.24 | 0.49 | 0.73 | (0.20 | ) | — | — | (0.20 | ) | 17.27 | 1.70 | 4.49 | 1.44 | 43 | 4.54 | 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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 17.48 | 0.11 | (2.83 | ) | (2.72 | ) | (0.42 | ) | — | — | (0.42 | ) | 14.34 | 1.15 | 6.20 | 1.34 | 33 | (15.99 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 16.94 | 0.33 | 0.49 | 0.82 | (0.28 | ) | — | — | (0.28 | ) | 17.48 | 1.15 | 6.06 | 1.99 | 43 | 5.06 | 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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 17.51 | 0.12 | (2.83 | ) | (2.71 | ) | (0.44 | ) | — | — | (0.44 | ) | 14.36 | 1.05 | 4.30 | 1.45 | 33 | (15.95 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 16.97 | 0.34 | 0.49 | 0.83 | (0.29 | ) | — | — | (0.29 | ) | 17.51 | 1.05 | 3.90 | 2.02 | 43 | 5.16 | 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 | |||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 17.34 | 0.08 | (2.82 | ) | (2.74 | ) | (0.31 | ) | — | — | (0.31 | ) | 14.29 | 1.45 | 5.39 | 1.05 | 33 | (16.13 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 16.86 | 0.35 | 0.40 | 0.75 | (0.27 | ) | — | — | (0.27 | ) | 17.34 | 1.45 | 4.35 | 2.10 | 43 | 4.70 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 15.98 | 0.09 | (0.32 | ) | (0.23 | ) | (0.16 | ) | (0.02 | ) | — | (0.18 | ) | 15.57 | 1.17 | 2.33 | 1.20 | 32 | (1.50 | ) | 2 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 15.73 | 0.16 | 0.67 | 0.83 | (0.08 | ) | (0.50 | ) | — | (0.58 | ) | 15.98 | 1.17 | 2.50 | 1.03 | 139 | 5.74 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 15.69 | 0.04 | (0.33 | ) | (0.29 | ) | (0.05 | ) | (0.02 | ) | — | (0.07 | ) | 15.33 | 1.92 | 3.06 | 0.49 | 32 | (1.89 | ) | 2 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 15.52 | 0.04 | 0.66 | 0.70 | (0.03 | ) | (0.50 | ) | — | (0.53 | ) | 15.69 | 1.92 | 3.26 | 0.29 | 139 | 4.91 | 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 |
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 Cougar Tactical Allocation Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | $ 16.00 | $ 0.12 | $ | (0.33 | ) | $ | (0.21 | ) | $ | (0.21 | ) | $ | (0.02 | ) | $ — | $ | (0.23 | ) | $ 15.56 | 0.87 | 2.04 | 1.52 | 32 | (1.37 | ) | $ 20 | |||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 15.76 | 0.21 | 0.66 | 0.87 | (0.13 | ) | (0.50 | ) | — | (0.63 | ) | 16.00 | 0.87 | 2.24 | 1.33 | 139 | 6.02 | 22 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 15.94 | 0.08 | (0.33 | ) | (0.25 | ) | (0.12 | ) | (0.02 | ) | — | (0.14 | ) | 15.55 | 1.42 | 3.06 | 0.98 | 32 | (1.60 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 15.70 | 0.12 | 0.66 | 0.78 | (0.04 | ) | (0.50 | ) | — | (0.54 | ) | 15.94 | 1.42 | 3.26 | 0.80 | 139 | 5.40 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 16.02 | 0.13 | (0.33 | ) | (0.20 | ) | (0.21 | ) | (0.02 | ) | — | (0.23 | ) | 15.59 | 0.87 | 2.35 | 1.63 | 32 | (1.32 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 15.77 | 0.21 | 0.66 | 0.87 | (0.12 | ) | (0.50 | ) | — | (0.62 | ) | 16.02 | 0.87 | 2.43 | 1.35 | 139 | 6.04 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 16.04 | 0.13 | (0.33 | ) | (0.20 | ) | (0.22 | ) | (0.02 | ) | — | (0.24 | ) | 15.60 | 0.77 | 2.47 | 1.63 | 32 | (1.28 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 15.79 | 0.22 | 0.67 | 0.89 | (0.14 | ) | (0.50 | ) | — | (0.64 | ) | 16.04 | 0.77 | 2.72 | 1.45 | 139 | 6.15 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 15.95 | 0.10 | (0.34 | ) | (0.24 | ) | (0.15 | ) | (0.02 | ) | — | (0.17 | ) | 15.54 | 1.17 | 2.97 | 1.24 | 32 | (1.54 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 15.71 | 0.16 | 0.66 | 0.82 | (0.08 | ) | (0.50 | ) | — | (0.58 | ) | 15.95 | 1.17 | 3.12 | 1.05 | 139 | 5.68 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 21.70 | 0.19 | (2.19 | ) | (2.00 | ) | (0.20 | ) | (0.66 | ) | — | (0.86 | ) | 18.84 | 0.96 | 0.96 | 1.86 | 20 | (9.55 | ) | 150 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 21.44 | 0.41 | 1.74 | 2.15 | (0.39 | ) | (1.50 | ) | — | (1.89 | ) | 21.70 | 0.97 | 0.97 | 1.98 | 25 | 11.47 | 171 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 20.68 | 0.11 | (2.08 | ) | (1.97 | ) | (0.12 | ) | (0.66 | ) | — | (0.78 | ) | 17.93 | 1.73 | 1.73 | 1.10 | 20 | (9.88 | ) | 104 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 20.52 | 0.24 | 1.66 | 1.90 | (0.24 | ) | (1.50 | ) | — | (1.74 | ) | 20.68 | 1.72 | 1.72 | 1.23 | 25 | 10.66 | 133 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 21.64 | 0.22 | (2.18 | ) | (1.96 | ) | (0.23 | ) | (0.66 | ) | — | (0.89 | ) | 18.79 | 0.70 | 0.70 | 2.12 | 20 | (9.40 | ) | 411 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 21.39 | 0.46 | 1.74 | 2.20 | (0.45 | ) | (1.50 | ) | — | (1.95 | ) | 21.64 | 0.70 | 0.70 | 2.21 | 25 | 11.76 | 492 | |||||||||||||||||||||||||||||||||||||||||||||
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 |
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 Eagle Growth & Income Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | $ 21.61 | $ 0.16 | $ | (2.17 | ) | $ | (2.01 | ) | $ | (0.17 | ) | $ | (0.66 | ) | $ — | $ | (0.83 | ) | $ 18.77 | 1.27 | 1.27 | 1.55 | 20 | (9.65 | ) | $ 1 | |||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 21.35 | 0.34 | 1.74 | 2.08 | (0.32 | ) | (1.50 | ) | — | (1.82 | ) | 21.61 | 1.30 | 1.30 | 1.66 | 25 | 11.12 | 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 | |||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 21.66 | 0.21 | (2.17 | ) | (1.96 | ) | (0.23 | ) | (0.66 | ) | — | (0.89 | ) | 18.81 | 0.70 | 0.70 | 2.12 | 20 | (9.39 | ) | 6 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 21.41 | 0.47 | 1.73 | 2.20 | (0.45 | ) | (1.50 | ) | — | (1.95 | ) | 21.66 | 0.72 | 0.72 | 2.23 | 25 | 11.73 | 4 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 21.59 | 0.28 | (2.30 | ) | (2.02 | ) | (0.15 | ) | (0.66 | ) | — | (0.81 | ) | 18.76 | 0.61 | 0.61 | 2.65 | 20 | (9.64 | ) | 2 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 21.34 | 0.48 | 1.73 | 2.21 | (0.46 | ) | (1.50 | ) | — | (1.96 | ) | 21.59 | 0.63 | 0.63 | 2.31 | 25 | 11.87 | 49 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 21.60 | 0.18 | (2.17 | ) | (1.99 | ) | (0.19 | ) | (0.66 | ) | — | (0.85 | ) | 18.76 | 1.08 | 1.08 | 1.74 | 20 | (9.57 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 21.35 | 0.38 | 1.74 | 2.12 | (0.37 | ) | (1.50 | ) | — | (1.87 | ) | 21.60 | 1.10 | 1.07 | 1.82 | 25 | 11.35 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 63.14 | (0.15 | ) | (0.25 | ) | (0.40 | ) | — | (1.44 | ) | — | (1.44 | ) | 61.30 | 1.05 | 1.05 | (0.47 | ) | 12 | (0.77 | ) | 659 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 56.19 | (0.26 | ) | 8.71 | 8.45 | — | (1.50 | ) | — | (1.50 | ) | 63.14 | 1.05 | 1.05 | (0.44 | ) | 32 | 15.81 | 719 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 49.40 | (0.28 | ) | (0.19 | ) | (0.47 | ) | — | (1.44 | ) | — | (1.44 | ) | 47.49 | 1.75 | 1.75 | (1.16 | ) | 12 | (1.13 | ) | 122 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 44.61 | (0.52 | ) | 6.81 | 6.29 | — | (1.50 | ) | — | (1.50 | ) | 49.40 | 1.74 | 1.74 | (1.12 | ) | 32 | 15.05 | 136 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 67.06 | (0.05 | ) | (0.29 | ) | (0.34 | ) | — | (1.44 | ) | — | (1.44 | ) | 65.28 | 0.73 | 0.73 | (0.15 | ) | 12 | (0.63 | ) | 1,261 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 59.38 | (0.08 | ) | 9.26 | 9.18 | — | (1.50 | ) | — | (1.50 | ) | 67.06 | 0.74 | 0.74 | (0.12 | ) | 32 | 16.20 | 1,319 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 60.92 | (0.22 | ) | (0.25 | ) | (0.47 | ) | — | (1.44 | ) | — | (1.44 | ) | 59.01 | 1.32 | 1.32 | (0.73 | ) | 12 | (0.91 | ) | 36 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 54.42 | (0.42 | ) | 8.42 | 8.00 | — | (1.50 | ) | — | (1.50 | ) | 60.92 | 1.34 | 1.34 | (0.73 | ) | 32 | 15.49 | 45 | ||||||||||||||||||||||||||||||||||||||||||||
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 |
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 Eagle Mid Cap Growth Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | $ 66.87 | $ | (0.05 | ) | $ | (0.29 | ) | $ | (0.34 | ) | $ — | $ | (1.44 | ) | $ — | $ | (1.44 | ) | $ 65.09 | 0.75 | 0.75 | (0.16 | ) | 12 | (0.63 | ) | $ 676 | ||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 59.22 | (0.09 | ) | 9.24 | 9.15 | — | (1.50 | ) | — | (1.50 | ) | 66.87 | 0.75 | 0.75 | (0.14 | ) | 32 | 16.19 | 758 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 67.58 | (0.02 | ) | (0.29 | ) | (0.31 | ) | — | (1.44 | ) | — | (1.44 | ) | 65.83 | 0.64 | 0.64 | (0.06 | ) | 12 | (0.58 | ) | 2,633 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 59.78 | (0.03 | ) | 9.33 | 9.30 | — | (1.50 | ) | — | (1.50 | ) | 67.58 | 0.65 | 0.65 | (0.04 | ) | 32 | 16.30 | 2,695 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 66.60 | (0.14 | ) | (0.27 | ) | (0.41 | ) | — | (1.44 | ) | — | (1.44 | ) | 64.75 | 1.00 | 1.00 | (0.43 | ) | 12 | (0.74 | ) | 4 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 59.14 | (0.29 | ) | 9.25 | 8.96 | — | (1.50 | ) | — | (1.50 | ) | 66.60 | 1.01 | 1.01 | (0.44 | ) | 32 | 15.89 | 4 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Carillon Eagle Small Cap Growth Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 48.23 | (0.17 | ) | (1.75 | ) | (1.92 | ) | — | (3.27 | ) | — | (3.27 | ) | 43.04 | 1.12 | 1.12 | (0.72 | ) | 5 | (4.83 | ) | 308 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 59.15 | (0.32 | ) | 0.39 | 0.07 | — | (10.99 | ) | — | (10.99 | ) | 48.23 | 1.08 | 1.08 | (0.65 | ) | 26 | 3.64 | 394 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class C* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 31.93 | (0.21 | ) | (1.01 | ) | (1.22 | ) | — | (3.27 | ) | — | (3.27 | ) | 27.44 | 1.79 | 1.79 | (1.39 | ) | 5 | (5.12 | ) | 51 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 43.65 | (0.44 | ) | (0.29 | ) | (0.73 | ) | — | (10.99 | ) | — | (10.99 | ) | 31.93 | 1.76 | 1.76 | (1.32 | ) | 26 | 2.92 | 68 | ||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 51.64 | (0.10 | ) | (1.91 | ) | (2.01 | ) | — | (3.27 | ) | — | (3.27 | ) | 46.36 | 0.80 | 0.80 | (0.41 | ) | 5 | (4.68 | ) | 751 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 62.28 | (0.17 | ) | 0.52 | 0.35 | — | (10.99 | ) | — | (10.99 | ) | 51.64 | 0.76 | 0.76 | (0.33 | ) | 26 | 3.96 | 1,040 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 46.02 | (0.21 | ) | (1.65 | ) | (1.86 | ) | — | (3.27 | ) | — | (3.27 | ) | 40.89 | 1.34 | 1.34 | (0.95 | ) | 5 | (4.93 | ) | 53 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 57.14 | (0.43 | ) | 0.30 | (0.13 | ) | — | (10.99 | ) | — | (10.99 | ) | 46.02 | 1.34 | 1.34 | (0.90 | ) | 26 | 3.37 | 66 | |||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-5* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 51.92 | (0.10 | ) | (1.91 | ) | (2.01 | ) | — | (3.27 | ) | — | (3.27 | ) | 46.64 | 0.78 | 0.78 | (0.38 | ) | 5 | (4.65 | ) | 210 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 62.56 | (0.18 | ) | 0.53 | 0.35 | — | (10.99 | ) | — | (10.99 | ) | 51.92 | 0.77 | 0.77 | (0.34 | ) | 26 | 3.94 | 362 | ||||||||||||||||||||||||||||||||||||||||||||
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 |
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 Eagle Small Cap Growth Fund (cont’d) |
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Class R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | $ 52.56 | $ | (0.07 | ) | $ | (1.94 | ) | $ | (2.01 | ) | $ — | $ | (3.27 | ) | $ — | $ | (3.27 | ) | $ 47.28 | 0.66 | 0.66 | (0.27 | ) | 5 | (4.59 | ) | $ 1,519 | ||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 63.11 | (0.12 | ) | 0.56 | 0.44 | — | (10.99 | ) | — | (10.99 | ) | 52.56 | 0.65 | 0.65 | (0.23 | ) | 26 | 4.07 | 2,186 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 51.16 | (0.21 | ) | (1.88 | ) | (2.09 | ) | — | (3.27 | ) | — | (3.27 | ) | 45.80 | 1.25 | 1.60 | (0.86 | ) | 5 | (4.88 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 62.03 | (0.33 | ) | 0.45 | 0.12 | — | (10.99 | ) | — | (10.99 | ) | 51.16 | 1.17 | 1.37 | (0.61 | ) | 26 | 3.53 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 18.93 | 0.13 | (3.12 | ) | (2.99 | ) | (0.39 | ) | (1.05 | ) | — | (1.44 | ) | 14.50 | 1.45 | 1.49 | 1.53 | 11 | (17.50 | ) | 1 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 19.02 | 0.35 | 1.50 | 1.85 | (0.66 | ) | (1.28 | ) | — | (1.94 | ) | 18.93 | 1.44 | 1.51 | 1.97 | 20 | 11.82 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 18.83 | 0.07 | (3.12 | ) | (3.05 | ) | (0.29 | ) | (1.05 | ) | — | (1.34 | ) | 14.44 | 2.20 | 2.24 | 0.82 | 11 | (17.80 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 18.89 | 0.20 | 1.52 | 1.72 | (0.50 | ) | (1.28 | ) | — | (1.78 | ) | 18.83 | 2.19 | 2.21 | 1.15 | 20 | 10.99 | 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 | ||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 19.06 | 0.16 | (3.15 | ) | (2.99 | ) | (0.44 | ) | (1.05 | ) | — | (1.49 | ) | 14.58 | 1.15 | 1.16 | 1.82 | 11 | (17.41 | ) | 512 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 19.07 | 0.37 | 1.56 | 1.93 | (0.66 | ) | (1.28 | ) | — | (1.94 | ) | 19.06 | 1.10 | 1.10 | 2.05 | 20 | 12.24 | 711 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 18.99 | 0.11 | (3.14 | ) | (3.03 | ) | (0.34 | ) | (1.05 | ) | — | (1.39 | ) | 14.57 | 1.70 | 2.18 | 1.31 | 11 | (17.60 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 18.97 | 0.26 | 1.56 | 1.82 | (0.52 | ) | (1.28 | ) | — | (1.80 | ) | 18.99 | 1.70 | 2.18 | 1.48 | 20 | 11.53 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 19.05 | 0.16 | (3.14 | ) | (2.98 | ) | (0.44 | ) | (1.05 | ) | — | (1.49 | ) | 14.58 | 1.15 | 1.67 | 1.86 | 11 | (17.39 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 19.06 | 0.36 | 1.55 | 1.91 | (0.64 | ) | (1.28 | ) | — | (1.92 | ) | 19.05 | 1.15 | 1.68 | 2.03 | 20 | 12.10 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 19.04 | 0.18 | (3.15 | ) | (2.97 | ) | (0.46 | ) | (1.05 | ) | — | (1.51 | ) | 14.56 | 1.05 | 1.06 | 2.08 | 11 | (17.34 | ) | 4 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 19.08 | 0.39 | 1.54 | 1.93 | (0.69 | ) | (1.28 | ) | — | (1.97 | ) | 19.04 | 1.02 | 1.02 | 2.20 | 20 | 12.27 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 19.01 | 0.13 | (3.14 | ) | (3.01 | ) | (0.39 | ) | (1.05 | ) | — | (1.44 | ) | 14.56 | 1.45 | 2.13 | 1.57 | 11 | (17.54 | ) | 0 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 19.01 | 0.31 | 1.55 | 1.86 | (0.58 | ) | (1.28 | ) | — | (1.86 | ) | 19.01 | 1.45 | 2.19 | 1.73 | 20 | 11.79 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 18.38 | 0.04 | (2.19 | ) | (2.15 | ) | (0.10 | ) | (0.01 | ) | — | (0.11 | ) | 16.12 | 1.21 | 1.21 | 0.41 | 77 | (11.79 | ) | 17 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 18.37 | 0.09 | 1.20 | 1.29 | (0.09 | ) | (1.19 | ) | — | (1.28 | ) | 18.38 | 1.20 | 1.20 | 0.50 | 170 | 8.31 | 21 | |||||||||||||||||||||||||||||||||||||||||||||
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 18.17 | (0.03 | ) | (2.17 | ) | (2.20 | ) | — | (0.01 | ) | — | (0.01 | ) | 15.96 | 2.00 | 2.00 | (0.37 | ) | 77 | (12.10 | ) | 16 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 18.26 | (0.05 | ) | 1.18 | 1.13 | (0.03 | ) | (1.19 | ) | — | (1.22 | ) | 18.17 | 1.99 | 1.99 | (0.28 | ) | 170 | 7.34 | 20 | |||||||||||||||||||||||||||||||||||||||||||
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 |
40 | 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 Mid Cap Fund (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | $ 18.46 | $ 0.06 | $ | (2.19 | ) | $ | (2.13 | ) | $ | (0.13 | ) | $ | (0.01 | ) | $ — | $ | (0.14 | ) | $ 16.19 | 0.99 | 0.99 | 0.64 | 77 | (11.64 | ) | $ 2,080 | |||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 18.41 | 0.13 | 1.20 | 1.33 | (0.09 | ) | (1.19 | ) | — | (1.28 | ) | 18.46 | 0.98 | 0.98 | 0.75 | 170 | 8.48 | 2,685 | |||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 18.29 | 0.01 | (2.17 | ) | (2.16 | ) | (0.06 | ) | (0.01 | ) | — | (0.07 | ) | 16.06 | 1.51 | 1.51 | 0.11 | 77 | (11.87 | ) | 2 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 18.32 | 0.03 | 1.19 | 1.22 | (0.06 | ) | (1.19 | ) | — | (1.25 | ) | 18.29 | 1.56 | 1.56 | 0.16 | 170 | 7.87 | 3 | |||||||||||||||||||||||||||||||||||||||||||||
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 18.37 | 0.06 | (2.18 | ) | (2.12 | ) | (0.14 | ) | (0.01 | ) | — | (0.15 | ) | 16.10 | 0.94 | 0.94 | 0.68 | 77 | (11.62 | ) | 2 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 18.35 | 0.13 | 1.19 | 1.32 | (0.11 | ) | (1.19 | ) | — | (1.30 | ) | 18.37 | 1.00 | 1.00 | 0.72 | 170 | 8.47 | 2 | |||||||||||||||||||||||||||||||||||||||||||||
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 18.45 | 0.06 | (2.18 | ) | (2.12 | ) | (0.15 | ) | (0.01 | ) | — | (0.16 | ) | 16.17 | 0.88 | 0.88 | 0.73 | 77 | (11.61 | ) | 96 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 18.41 | 0.15 | 1.19 | 1.34 | (0.11 | ) | (1.19 | ) | — | (1.30 | ) | 18.45 | 0.88 | 0.88 | 0.82 | 170 | 8.60 | 108 | |||||||||||||||||||||||||||||||||||||||||||||
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 18.36 | 0.03 | (2.19 | ) | (2.16 | ) | (0.08 | ) | (0.01 | ) | — | (0.09 | ) | 16.11 | 1.28 | 1.28 | 0.35 | 77 | (11.81 | ) | 19 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 18.37 | 0.08 | 1.20 | 1.28 | (0.10 | ) | (1.19 | ) | — | (1.29 | ) | 18.36 | 1.26 | 1.26 | 0.45 | 170 | 8.20 | 24 | |||||||||||||||||||||||||||||||||||||||||||||
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 28.20 | (0.06 | ) | (2.65 | ) | (2.71 | ) | — | (1.10 | ) | — | (1.10 | ) | 24.39 | 1.21 | 1.21 | (0.45 | ) | 8 | (10.14 | ) | 10 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 27.10 | (0.07 | ) | 1.23 | 1.16 | — | (0.06 | ) | — | (0.06 | ) | 28.20 | 1.16 | 1.16 | (0.27 | ) | 21 | 4.30 | 13 | ||||||||||||||||||||||||||||||||||||||||||||
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 27.78 | (0.16 | ) | (2.61 | ) | (2.77 | ) | — | (1.10 | ) | — | (1.10 | ) | 23.91 | 2.00 | 2.00 | (1.24 | ) | 8 | (10.52 | ) | 5 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 26.89 | (0.25 | ) | 1.20 | 0.95 | — | (0.06 | ) | — | (0.06 | ) | 27.78 | 1.92 | 1.92 | (0.92 | ) | 21 | 3.55 | 8 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 28.34 | (0.03 | ) | (2.67 | ) | (2.70 | ) | — | (1.10 | ) | — | (1.10 | ) | 24.54 | 0.95 | 0.96 | (0.19 | ) | 8 | (10.05 | ) | 238 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 27.17 | (0.02 | ) | 1.25 | 1.23 | — | (0.06 | ) | — | (0.06 | ) | 28.34 | 0.95 | 0.94 | (0.06 | ) | 21 | 4.55 | 297 | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 28.03 | (0.09 | ) | (2.64 | ) | (2.73 | ) | — | (1.10 | ) | — | (1.10 | ) | 24.20 | 1.50 | 1.72 | (0.71 | ) | 8 | (10.28 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 27.02 | (0.16 | ) | 1.23 | 1.07 | — | (0.06 | ) | — | (0.06 | ) | 28.03 | 1.50 | 1.55 | (0.56 | ) | 21 | 3.98 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 28.34 | (0.03 | ) | (2.67 | ) | (2.70 | ) | — | (1.10 | ) | — | (1.10 | ) | 24.54 | 0.95 | 1.05 | (0.20 | ) | 8 | (10.05 | ) | 0 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 27.17 | (0.02 | ) | 1.25 | 1.23 | — | (0.06 | ) | — | (0.06 | ) | 28.34 | 0.95 | 0.99 | (0.07 | ) | 21 | 4.55 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 28.41 | (0.02 | ) | (2.68 | ) | (2.70 | ) | — | (1.10 | ) | — | (1.10 | ) | 24.61 | 0.85 | 0.86 | (0.12 | ) | 8 | (10.03 | ) | 8 | |||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 27.20 | — | (d) | 1.27 | 1.27 | — | (0.06 | ) | — | (0.06 | ) | 28.41 | 0.84 | 0.84 | 0.01 | 21 | 4.69 | 6 | |||||||||||||||||||||||||||||||||||||||||||||
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 |
The accompanying notes are an integral part of the financial statements | 41 |
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 Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | $ 28.17 | $ | (0.07 | ) | $ | (2.65 | ) | $ | (2.72 | ) | $ — | $ | (1.10 | ) | $ — | $ | (1.10 | ) | $ 24.35 | 1.25 | 1.27 | (0.54 | ) | 8 | (10.19 | ) | $ 0 | ||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 27.09 | (0.10 | ) | 1.24 | 1.14 | — | (0.06 | ) | — | (0.06 | ) | 28.17 | 1.25 | 1.23 | (0.36 | ) | 21 | 4.23 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.02 | 0.09 | 0.97 | 1.06 | (0.11 | ) | (0.24 | ) | — | (0.35 | ) | 12.73 | 0.80 | 1.15 | 1.50 | 314 | 9.02 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.03 | 0.22 | 0.99 | 1.21 | (0.22 | ) | — | — | (0.22 | ) | 12.02 | 0.80 | 1.20 | 1.85 | 409 | 11.12 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.01 | 0.04 | 0.97 | 1.01 | (0.06 | ) | (0.24 | ) | — | (0.30 | ) | 12.72 | 1.55 | 1.93 | 0.73 | 314 | 8.61 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.02 | 0.13 | 0.99 | 1.12 | (0.13 | ) | — | — | (0.13 | ) | 12.01 | 1.55 | 2.00 | 1.09 | 409 | 10.25 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.04 | 0.11 | 0.96 | 1.07 | (0.13 | ) | (0.24 | ) | — | (0.37 | ) | 12.74 | 0.40 | 0.93 | 1.89 | 314 | 9.13 | 184 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.04 | 0.26 | 1.01 | 1.27 | (0.27 | ) | — | — | (0.27 | ) | 12.04 | 0.40 | 0.98 | 2.28 | 409 | 11.64 | 105 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.03 | 0.07 | 0.97 | 1.04 | (0.09 | ) | (0.24 | ) | — | (0.33 | ) | 12.74 | 1.05 | 1.89 | 1.24 | 314 | 8.87 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.04 | 0.19 | 0.99 | 1.18 | (0.19 | ) | — | — | (0.19 | ) | 12.03 | 1.05 | 1.97 | 1.61 | 409 | 10.82 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.04 | 0.11 | 0.95 | 1.06 | (0.12 | ) | (0.24 | ) | — | (0.36 | ) | 12.74 | 0.50 | 1.38 | 1.79 | 314 | 9.07 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.05 | 0.25 | 1.00 | 1.25 | (0.26 | ) | — | — | (0.26 | ) | 12.04 | 0.50 | 1.46 | 2.17 | 409 | 11.42 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.04 | 0.11 | 0.96 | 1.07 | (0.13 | ) | (0.24 | ) | — | (0.37 | ) | 12.74 | 0.40 | 1.41 | 1.89 | 314 | 9.13 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.05 | 0.26 | 1.00 | 1.26 | (0.27 | ) | — | — | (0.27 | ) | 12.04 | 0.40 | 1.46 | 2.26 | 409 | 11.53 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.03 | 0.09 | 0.97 | 1.06 | (0.11 | ) | (0.24 | ) | — | (0.35 | ) | 12.74 | 0.80 | 1.21 | 1.53 | 314 | 9.00 | 5 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.04 | 0.22 | 0.99 | 1.21 | (0.22 | ) | — | — | (0.22 | ) | 12.03 | 0.80 | 1.26 | 1.89 | 409 | 11.09 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
Carillon Reams Core Plus Bond Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 33.43 | 0.27 | 2.29 | 2.56 | (0.37 | ) | (0.61 | ) | — | (0.98 | ) | 35.01 | 0.80 | 0.96 | 1.62 | 295 | 7.92 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 30.44 | 0.58 | 3.01 | 3.59 | (0.60 | ) | — | — | (0.60 | ) | 33.43 | 0.80 | 0.98 | 1.79 | 413 | 11.89 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 33.38 | 0.14 | 2.36 | 2.50 | (0.23 | ) | (0.61 | ) | — | (0.84 | ) | 35.04 | 1.55 | 1.79 | 0.84 | 295 | 7.70 | 1 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 30.41 | 0.34 | 3.00 | 3.34 | (0.37 | ) | — | — | (0.37 | ) | 33.38 | 1.55 | 1.78 | 1.05 | 413 | 11.06 | 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 |
42 | 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 (cont’d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | $ 33.45 | $ 0.33 | $ 2.36 | $ 2.69 | $ | (0.44 | ) | $ | (0.61 | ) | $ — | $ | (1.05 | ) | $ 35.09 | 0.40 | 0.66 | 1.98 | 295 | 8.31 | $ 644 | ||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 30.46 | 0.72 | 2.99 | 3.71 | (0.72 | ) | — | — | (0.72 | ) | 33.45 | 0.40 | 0.66 | 2.23 | 413 | 12.32 | 635 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 33.43 | 0.22 | 2.36 | 2.58 | (0.33 | ) | (0.61 | ) | — | (0.94 | ) | 35.07 | 1.05 | 1.62 | 1.34 | 295 | 7.96 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 30.44 | 0.50 | 3.00 | 3.50 | (0.51 | ) | — | — | (0.51 | ) | 33.43 | 1.05 | 1.68 | 1.57 | 413 | 11.60 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 33.45 | 0.31 | 2.36 | 2.67 | (0.42 | ) | (0.61 | ) | — | (1.03 | ) | 35.09 | 0.50 | 1.10 | 1.89 | 295 | 8.25 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 30.46 | 0.68 | 3.00 | 3.68 | (0.69 | ) | — | — | (0.69 | ) | 33.45 | 0.50 | 1.18 | 2.12 | 413 | 12.20 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 33.45 | 0.33 | 2.36 | 2.69 | (0.44 | ) | (0.61 | ) | — | (1.05 | ) | 35.09 | 0.40 | 1.10 | 1.99 | 295 | 8.31 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 30.46 | 0.71 | 3.00 | 3.71 | (0.72 | ) | — | — | (0.72 | ) | 33.45 | 0.40 | 1.18 | 2.22 | 413 | 12.32 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 33.43 | 0.27 | 2.34 | 2.61 | (0.37 | ) | (0.61 | ) | — | (0.98 | ) | 35.06 | 0.80 | 0.98 | 1.60 | 295 | 8.06 | 32 | |||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 30.44 | 0.59 | 2.99 | 3.58 | (0.59 | ) | — | — | (0.59 | ) | 33.43 | 0.80 | 0.97 | 1.84 | 413 | 11.87 | 14 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||
Carillon Reams Unconstrained Bond Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.13 | 0.10 | 0.15 | 0.25 | (0.16 | ) | — | — | (0.16 | ) | 12.22 | 0.80 | 1.09 | 1.63 | 354 | 2.06 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.45 | 0.21 | 0.69 | 0.90 | (0.22 | ) | — | — | (0.22 | ) | 12.13 | 0.80 | 1.14 | 1.74 | 289 | 7.92 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.10 | 0.05 | 0.16 | 0.21 | (0.10 | ) | — | — | (0.10 | ) | 12.21 | 1.55 | 1.90 | 0.86 | 354 | 1.79 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.42 | 0.11 | 0.71 | 0.82 | (0.14 | ) | — | — | (0.14 | ) | 12.10 | 1.55 | 1.96 | 0.92 | 289 | 7.19 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.12 | 0.11 | 0.16 | 0.27 | (0.17 | ) | — | — | (0.17 | ) | 12.22 | 0.50 | 0.86 | 1.87 | 354 | 2.28 | 736 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.43 | 0.24 | 0.70 | 0.94 | (0.25 | ) | — | — | (0.25 | ) | 12.12 | 0.50 | 0.85 | 2.07 | 289 | 8.31 | 907 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||
Class R-3* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.11 | 0.08 | 0.17 | 0.25 | (0.14 | ) | — | — | (0.14 | ) | 12.22 | 1.05 | 1.82 | 1.34 | 354 | 2.08 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.43 | 0.18 | 0.69 | 0.87 | (0.19 | ) | — | — | (0.19 | ) | 12.11 | 1.05 | 1.80 | 1.51 | 289 | 7.63 | 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* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.12 | 0.11 | 0.16 | 0.27 | (0.17 | ) | — | — | (0.17 | ) | 12.22 | 0.50 | 1.32 | 1.89 | 354 | 2.28 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.43 | 0.24 | 0.70 | 0.94 | (0.25 | ) | — | — | (0.25 | ) | 12.12 | 0.50 | 1.37 | 2.06 | 289 | 8.31 | 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 |
The accompanying notes are an integral part of the financial statements | 43 |
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 R-6* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | $ 12.12 | $ 0.12 | $ 0.16 | $ 0.28 | $ | (0.18 | ) | $ — | $ — | $ | (0.18 | ) | $ 12.22 | 0.40 | 0.75 | 2.00 | 354 | 2.33 | $ 37 | ||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.43 | 0.26 | 0.69 | 0.95 | (0.26 | ) | — | — | (0.26 | ) | 12.12 | 0.40 | 0.76 | 2.17 | 289 | 8.42 | 34 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||
Class Y* | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/01/19 | 04/30/20 | 12.18 | 0.09 | 0.16 | 0.25 | (0.15 | ) | — | — | (0.15 | ) | 12.28 | 0.80 | 1.26 | 1.58 | 354 | 2.11 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||
11/01/18 | 10/31/19 | 11.49 | 0.21 | 0.69 | 0.90 | (0.21 | ) | — | — | (0.21 | ) | 12.18 | 0.80 | 1.15 | 1.77 | 289 | 7.93 | 23 | ||||||||||||||||||||||||||||||||||||||||||||||
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 |
* Information for periods beginning after October 31, 2019 is unaudited. Per share amounts have been calculated using the daily average share method.
(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.
44 | The accompanying notes are an integral part of the financial statements |
Table of Contents
(UNAUDITED) | 04.30.2020 |
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, 2020, 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 C shares automatically convert to Class A shares for all purchases that have surpassed their10-year anniversary date. |
• | 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. 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, 2020, only the Core Plus Bond Fund and Unconstrained Bond Fund held futures. None of the Funds held options during the period ended April 30, 2020. |
• | 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, 2020, only the Core Bond Fund, Core Plus Bond Fund and Unconstrained Bond Fund held credit default swaps. |
• | Forward contracts | Forward contracts are valued daily at current forward rates provided by an independent pricing service. 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, 2020 only the Core Plus Bond Fund and Unconstrained Bond Fund held forwards. |
• | 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, 2020:
Level 1 | Level 2 | Level 3 | ||||||||||
Capital Appreciation Fund | ||||||||||||
Common stocks (a) | $451,691,190 | $— | $— | |||||||||
Total investment portfolio | $451,691,190 | $— | $— | |||||||||
International Stock Fund | ||||||||||||
Common stocks (a): | ||||||||||||
Australia | $— | $575,140 | $— | |||||||||
Austria | — | 84,216 | — | |||||||||
Belgium | — | 50,094 | — | |||||||||
Denmark | — | 235,599 | — | |||||||||
Finland | — | 53,362 | — | |||||||||
France | 23,280 | 761,314 | — | |||||||||
Germany | — | 434,078 | — | |||||||||
Hong Kong | — | 37,061 | — | |||||||||
Israel | 53,700 | 94,186 | — | |||||||||
Italy | — | 331,014 | — | |||||||||
Japan | — | 2,427,574 | — | |||||||||
Netherlands | 109,029 | 539,486 | — | |||||||||
Norway | — | 18,096 | — | |||||||||
Singapore | — | 15,997 | — | |||||||||
Spain | — | 222,541 | — | |||||||||
Sweden | — | 133,530 | — | |||||||||
Switzerland | — | 833,623 | — | |||||||||
United Kingdom | 50,541 | 1,093,873 | — | |||||||||
Preferred stocks | — | 114,644 | — | |||||||||
Exchange traded funds | 130,111 | — | — | |||||||||
Total investment portfolio | $366,661 | $8,055,428 | $— | |||||||||
Tactical Allocation Fund | ||||||||||||
Domestic exchange traded funds | $17,965,262 | $— | $— | |||||||||
Foreign exchange traded funds | 3,644,374 | — | — | |||||||||
Total investment portfolio | $21,609,636 | $— | $— | |||||||||
Growth & Income Fund | ||||||||||||
Common stocks (a) | $651,803,527 | $— | $— | |||||||||
Total investment portfolio | $651,803,527 | $— | $— |
Level 1 | Level 2 | Level 3 | ||||||||||
Mid Cap Growth Fund | ||||||||||||
Common stocks (a) | $5,375,652,352 | $— | $— | |||||||||
Money market funds | 4,334,635 | — | — | |||||||||
Total investment portfolio | $5,379,986,987 | $— | $— | |||||||||
Small Cap Growth Fund | ||||||||||||
Common stocks (a) | $2,879,896,019 | $— | $— | |||||||||
Money market funds | 5,500,000 | — | — | |||||||||
Total investment portfolio | $2,885,396,019 | $— | $— | |||||||||
International Fund | ||||||||||||
Common stocks (a): | ||||||||||||
Australia | $9,218,251 | $14,690,365 | $— | |||||||||
Canada | 5,604,776 | 9,152,867 | — | |||||||||
Denmark | 7,039,826 | — | — | |||||||||
France | — | 50,673,374 | — | |||||||||
Germany | 16,458,188 | 39,730,229 | — | |||||||||
Hong Kong | — | 5,164,797 | — | |||||||||
Ireland | 10,381,344 | 6,674,305 | — | |||||||||
Japan | — | 63,464,683 | — | |||||||||
Mexico | 18,808,358 | — | — | |||||||||
Norway | — | 8,878,985 | — | |||||||||
Singapore | — | 11,961,757 | — | |||||||||
South Africa | — | 6,694,883 | — | |||||||||
Spain | — | 7,581,510 | — | |||||||||
Sweden | — | 17,168,022 | — | |||||||||
Switzerland | 12,557,949 | 36,709,927 | — | |||||||||
Taiwan | — | 13,175,618 | — | |||||||||
Turkey | — | 6,672,712 | — | |||||||||
United Kingdom | 25,257,112 | 41,459,711 | — | |||||||||
United States | 27,251,332 | — | — | |||||||||
Preferred stocks: | ||||||||||||
Colombia | 8,532,377 | — | — | |||||||||
Germany | 7,689,629 | 12,506,421 | — | |||||||||
Money market funds | 17,614,129 | — | — | |||||||||
Total investment portfolio | $166,413,271 | $352,360,166 | $— |
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Level 1 | Level 2 | Level 3 | ||||||||||
Mid Cap Fund | ||||||||||||
Common stocks (a) | $2,222,230,290 | $— | $— | |||||||||
Money market funds | 14,053,894 | — | — | |||||||||
Total investment portfolio | $2,236,284,184 | $— | $— | |||||||||
Small Cap Fund | ||||||||||||
Common stocks (a) | $254,522,702 | $— | $— | |||||||||
Money market funds | 4,714,784 | — | — | |||||||||
Total investment portfolio | $259,237,486 | $— | $— | |||||||||
Core Bond Fund | ||||||||||||
Corporate bonds (a) | $— | $105,773,130 | $— | |||||||||
Mortgage and asset-backed securities | — | 31,699,934 | — | |||||||||
Foreign government bonds | — | 960,750 | — | |||||||||
Short-term investments | 96,747 | 14,721,933 | — | |||||||||
Total investment portfolio | $96,747 | $153,155,747 | $— | |||||||||
Credit default swaps | $— | $161,073 | $— | |||||||||
Core Plus Bond Fund | ||||||||||||
Corporate bonds (a) | $— | $445,331,215 | $— | |||||||||
Mortgage and asset-backed securities | — | 112,652,128 | — | |||||||||
Foreign government bonds | — | 5,050,500 | — | |||||||||
Money market funds | 544,813 | — | — | |||||||||
Total investment portfolio | $544,813 | $563,033,843 | $— | |||||||||
Futures contracts—short (b) | $77,671 | $— | $— | |||||||||
Credit default swaps | $— | ($5,824,510 | ) | $— | ||||||||
Forward contracts (b) | $— | $320,998 | $— |
Level 1 | Level 2 | Level 3 | ||||||||||
Unconstrained Bond Fund | ||||||||||||
Corporate bonds (a) | $— | $534,034,273 | $— | |||||||||
Mortgage and asset-backed securities | — | 127,680,151 | — | |||||||||
Foreign government bonds | — | 5,043,816 | — | |||||||||
Money market funds | 1,869,208 | — | — | |||||||||
Total investment portfolio | $1,869,208 | $666,758,240 | $— | |||||||||
Futures contracts—short (b) | ($7,972,997 | ) | $— | $— | ||||||||
Credit default swaps | $— | ($16,328,776 | ) | $— | ||||||||
Forward contracts (b) | $— | $ 1,546,254 | $— | |||||||||
(a) Please see the investment portfolio for details. |
| |||||||||||
(b) Amounts presented for Futures Contracts and Forward Contracts represent total unrealized appreciation (depreciation) as of the date of this report. |
|
At April 30, 2020, 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. Details of Forward Contracts, if any, at period end are included in the Investment Portfolios under the caption “Forward Contracts.” Refer to Note 6 for additional information. |
• | 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 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 |
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the term of the agreement, which typically is between one month and five years, provided that no credit event occurs. As the seller, a Fund would effectively add leverage to its portfolio because, in addition to its total net assets, a Fund would be subject to investment exposure on the notional value of the swap. If a Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) pay to the buyer of protection an amount equal to the notional value of the swap and take delivery of the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional value of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. If a credit event occurs, the maximum payout amount for a sale contract is limited to the notional value of the swap contract (“Maximum Payout Amount”). Recovery values are estimated by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value. Credit default swap agreements on credit indices involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising the credit index. A credit index is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. These indices are made up of reference credits that are judged by a poll of dealers to be the most liquid entities in the credit default swap market based on the sector of the index. Components of the indices may include, but are not limited to, investment grade securities, high yield securities, asset-backed securities, emerging markets, and/or various credit ratings within each sector. Credit indices are traded using credit default swaps with standardized terms including a fixed spread and standard maturity dates. An index credit default swap references all the names in the index, and if there is a default, the credit event is settled based on that name’s weight in the index. The composition of the indices changes periodically, usually every six months, and for most indices, each name has an equal weight in the index. A Fund may use credit default swaps on credit indices to hedge a portfolio of credit default swaps or bonds, which is less expensive than it would be to buy many credit default swaps to achieve a similar effect. 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, 2020, the average ofmonth-end derivative positions (notional value in U.S. dollars) were as follows:
Credit Default Swap Contracts | Futures Contracts – Long | Futures Short | Forward | Forward Contracts – USD Delivered | ||||||||||||||||
Core Bond Fund | $10,632,857 | $— | $— | $— | $— | |||||||||||||||
Core Plus Bond Fund | 96,819,414 | — | (20,707,634 | ) | — | 1,718,410 | ||||||||||||||
Unconstrained Bond Fund | 202,284,486 | 8,750,121 | (218,278,290 | ) | 23,636,022 | 50,731,645 |
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, or cash equivalents, set aside in an amount equal to the price of the 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
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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” liquid 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, 2020, 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.
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 | 11/1/19 to 4/30/20 | $2,779,692 | $292,099 | $6,162,243 | $10,905 | $132,614 | $26,866 | $213 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 14,814,793 | 2,225,038 | 17,013,818 | 121,423 | 617,839 | 3,552,644 | 842 | |||||||||||||||||||||||
International Stock Fund | 11/1/19 to 4/30/20 | 83,026 | 31,319 | 127,407 | 18,661 | 86 | 3,942 | 174 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 62,730 | 6,585 | 143,217 | 10,790 | 55 | 2,790 | 527 | |||||||||||||||||||||||
Tactical Allocation Fund | 11/1/19 to 4/30/20 | 15,096 | 9,536 | 311,827 | 104 | 522 | 182 | 113 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 63,410 | 72,560 | 832,642 | 389 | 1,386 | 464 | 420 | |||||||||||||||||||||||
Growth & Income Fund | 11/1/19 to 4/30/20 | 6,667,261 | 4,911,882 | 20,426,402 | 64,015 | 196,444 | 89,841 | 4,140 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 13,263,144 | 11,192,138 | 28,892,434 | 159,383 | 93,954 | 4,010,119 | 6,433 | |||||||||||||||||||||||
Mid Cap Growth Fund | 11/1/19 to 4/30/20 | 16,175,457 | 3,914,655 | 28,228,453 | 987,471 | 16,305,816 | 57,676,770 | 81,660 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 17,751,954 | 4,769,705 | 28,112,071 | 1,165,639 | 18,599,152 | 45,228,966 | 9,464 | |||||||||||||||||||||||
Small Cap Growth Fund | 11/1/19 to 4/30/20 | 25,518,949 | 6,601,964 | 62,069,451 | 4,391,236 | 21,928,897 | 127,210,225 | 755 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 96,913,223 | 27,054,499 | 230,547,503 | 15,646,019 | 73,349,310 | 375,763,465 | 14,071 |
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Distributions from earnings (cont’d) | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | |||||||||||||||||||||||
International Fund | 11/1/19 to 4/30/20 | $71,457 | $12,118 | $54,142,906 | $730 | $789 | $277,069 | $853 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 39,756 | 6,071 | 78,820,675 | 851 | 906 | 280,424 | 932 | |||||||||||||||||||||||
Mid Cap Fund | 11/1/19 to 4/30/20 | 127,632 | 15,137 | 20,175,464 | 10,274 | 16,330 | 781,591 | 122,685 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 691,968 | 704,999 | 169,659,120 | 105,258 | 50,544 | 2,868,920 | 179,981 | |||||||||||||||||||||||
Small Cap Fund | 11/1/19 to 4/30/20 | 479,806 | 290,056 | 11,618,569 | 9,420 | 2,651 | 231,607 | 3,851 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 32,573 | 27,569 | 585,642 | 650 | 134 | 11,144 | 212 | |||||||||||||||||||||||
Core Bond Fund | 11/1/19 to 4/30/20 | 34,643 | 18,019 | 3,307,848 | 298 | 331 | 337 | 39,909 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 17,697 | 5,896 | 2,406,030 | 174 | 233 | 243 | 33,120 | |||||||||||||||||||||||
Core Plus Bond Fund | 11/1/19 to 4/30/20 | 11,788 | 8,453 | 19,385,004 | 308 | 342 | 348 | 401,834 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 5,088 | 3,282 | 14,048,025 | 165 | 223 | 233 | 286,358 | |||||||||||||||||||||||
Unconstrained Bond Fund | 11/1/19 to 4/30/20 | 5,580 | 3,892 | 12,309,941 | 121 | 152 | 509,553 | 285,464 | ||||||||||||||||||||||
11/1/18 to 10/31/19 | 4,566 | 1,157 | 23,194,466 | 160 | 218 | 970,353 | 494,618 |
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, 2020, 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 | $54,786,084 | $3,583,485 | $7,638,750 | $151,119,154 | $690,400,371 | $167,361,257 | ||||||||||||||||||
Sales | 170,549,175 | 5,468,180 | 9,442,423 | 237,722,126 | 895,663,725 | 1,286,098,519 | ||||||||||||||||||
International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | Core Plus Bond Fund | Unconstrained Bond Fund | |||||||||||||||||||
Purchases | $67,631,640 | $1,967,269,609 | $22,629,301 | $229,116,982 | $1,070,042,164 | $1,533,886,912 | ||||||||||||||||||
Purchases - U.S. Treasury securities | — | — | — | 145,909,500 | 746,602,740 | 948,476,746 | ||||||||||||||||||
Sales | 147,016,279 | 2,273,723,154 | 58,243,188 | 164,444,427 | 924,918,560 | 1,361,321,136 | ||||||||||||||||||
Sales - U.S. Treasury securities | — | — | — | 193,404,324 | 1,046,923,105 | 1,124,698,384 |
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. Carillon Tower may receive payments from the subadvisers for certain marketing and related expenses. 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. |
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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, except the Capital Appreciation Fund and the Growth & Income Fund, 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.
Sales charges | During the period ended April 30, 2020, 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 | $21,212 | $859 | $2,679 | $79,569 | $109,426 | $31,180 | ||||||||||||||||||
CDSC - Class A | — | — | — | — | — | — | ||||||||||||||||||
CDSC - Class C | 235 | 29 | — | 6,005 | 225 | 1,008 | ||||||||||||||||||
International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | Core Plus Bond Fund | Unconstrained Bond Fund | |||||||||||||||||||
Front-end sales charges - Class A | $3,983 | $23,319 | $3,350 | $181 | $988 | $431 | ||||||||||||||||||
CDSC - Class A | — | — | — | — | — | — | ||||||||||||||||||
CDSC - Class C | — | 789 | — | 21 | — | — |
The Distributor paid commissions to salespersons from these fees and incurred other distribution costs.
Agency commissions | During the period ended April 30, 2020, 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 | $39,334 | $4,527 | $2,908 | $108,300 | $547,908 | $992,513 | ||||||||||||||||||
Paid to RJA | — | — | — | — | 25,790 | 65,957 | ||||||||||||||||||
International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | Core Plus Bond Fund | Unconstrained Bond Fund | |||||||||||||||||||
Total agency brokerage commissions | $222,532 | $1,648,163 | $40,036 | $— | $— | $— | ||||||||||||||||||
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 was not paid any fees for shareholder servicing during the period.
Transactions with affiliates | An issuer in which a Fund’s holdings represent 5% or more of the outstanding voting securities of the issuer is an “affiliated” issuer as defined in the 1940 Act. A schedule of Small Cap Growth Fund’s investments in securities of affiliated issuers is set forth below:
Value at 10/31/19 | Purchases | Sales | Net Realized Gain (Loss) | Net Change in Unrealized Appreciation (Depreciation) | Value at 4/30/20 | Dividend Income | Shares owned at 4/30/20 | |||||||||||||||||||||||||
Everi Holdings, Inc. | $45,437,620 | $2,250,000 | $ — | $ — | $ | (24,340,143 | ) | $23,347,477 | $— | 4,716,662 | ||||||||||||||||||||||
MarineMax, Inc. | 28,762,570 | — | (2,510,434 | ) | (779,309 | ) | (759,302 | ) | 24,713,525 | — | 1,715,026 | |||||||||||||||||||||
Universal Electronics, Inc. | 78,320,567 | — | — | — | (16,289,235 | ) | 62,031,332 | — | 1,502,697 | |||||||||||||||||||||||
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Total | $152,520,757 | $2,250,000 | $ | (2,510,434 | ) | $ | (779,309 | ) | $ | (41,388,680 | ) | $110,092,334 | $— | |||||||||||||||||||
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Expense limitations | Carillon Tower has contractually agreed to reduce its fees and/or reimburse expenses to each class of the Funds through February 28, 2021 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 11/1/19 to 4/30/20 | Fund Level | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | ||||||||||||||||||||||||
Capital Appreciation Fund | $225,682 | $40,119 | $4,772 | $153,389 | $969 | $3,463 | $6,853 | $34 | ||||||||||||||||||||||||
International Stock Fund | 163,162 | 3,489 | 2,245 | 5,393 | 977 | 36 | 214 | 45 | ||||||||||||||||||||||||
Tactical Allocation Fund | 129,134 | 913 | 1,269 | 16,156 | 36 | 57 | 41 | 42 | ||||||||||||||||||||||||
Growth & Income Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Mid Cap Growth Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Growth Fund | — | — | — | — | — | — | — | 21 | ||||||||||||||||||||||||
International Fund | — | 186 | 30 | 17,817 | 23 | 25 | 177 | 37 | ||||||||||||||||||||||||
Mid Cap Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Fund | — | — | — | 19,020 | 200 | 32 | 209 | 9 | ||||||||||||||||||||||||
Core Bond Fund | 174,958 | 257 | 279 | 125,532 | 30 | 33 | 40 | 968 | ||||||||||||||||||||||||
Core Plus Bond Fund | 211,870 | 197 | 287 | 588,336 | 30 | 32 | 37 | 7,489 | ||||||||||||||||||||||||
Unconstrained Bond Fund | 1,108,441 | 91 | 174 | 470,021 | 30 | 32 | 18,824 | 23,628 |
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 fiscalyear-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. Carillon Tower receives payments from the Funds’ subadvisers for amounts waived and/or reimbursed under each contractual fee waiver and expense reimbursement agreement and provides to the subadvisers any recoupment that Carillon Tower receives from the Funds. The following tables show the amounts that Carillon Tower maybe allowed to recover by class of shares and the dates that these amounts will expire:
Recoverable expenses - 10/31/2022 | Fund Level | Class A | Class C | Class I | Class R-3 | Class R-5 | Class R-6 | Class Y | ||||||||||||||||||||||||
Capital Appreciation Fund | $225,682 | $40,119 | $4,772 | $153,389 | $969 | $3,463 | $6,853 | $34 | ||||||||||||||||||||||||
International Stock Fund | 163,162 | 3,489 | 2,245 | 5,393 | 977 | 36 | 214 | 45 | ||||||||||||||||||||||||
Tactical Allocation Fund | 129,134 | 913 | 1,269 | 16,156 | 36 | 57 | 41 | 42 | ||||||||||||||||||||||||
Growth & Income Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Mid Cap Growth Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Growth Fund | — | — | — | — | — | — | — | 21 | ||||||||||||||||||||||||
International Fund | — | 186 | 30 | 17,817 | 23 | 25 | 177 | 37 | ||||||||||||||||||||||||
Mid Cap Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Fund | — | — | — | 19,020 | 200 | 32 | 209 | 9 | ||||||||||||||||||||||||
Core Bond Fund | 174,958 | 257 | 279 | 125,532 | 30 | 33 | 40 | 968 | ||||||||||||||||||||||||
Core Plus Bond Fund | 211,870 | 197 | 287 | 588,336 | 30 | 32 | 37 | 7,489 | ||||||||||||||||||||||||
Unconstrained Bond Fund | 1,108,441 | 91 | 174 | 470,021 | 30 | 32 | 18,824 | 23,628 |
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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 | $448,383 | $82,911 | $10,397 | $296,016 | $2,680 | $8,041 | $44,904 | $70 | ||||||||||||||||||||||||
International Stock Fund | 338,713 | 6,893 | 4,245 | 12,210 | 2,140 | 78 | 431 | 118 | ||||||||||||||||||||||||
Tactical Allocation Fund | 271,104 | 1,740 | 2,518 | 30,113 | 72 | 121 | 85 | 84 | ||||||||||||||||||||||||
Growth & Income Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Mid Cap Growth Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Growth Fund | — | — | — | — | — | — | — | 56 | ||||||||||||||||||||||||
International Fund | — | 548 | 29 | — | 45 | 49 | — | 74 | ||||||||||||||||||||||||
Mid Cap Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Fund | — | — | — | — | 150 | 25 | — | — | ||||||||||||||||||||||||
Core Bond Fund | 364,609 | 520 | 557 | 237,974 | 60 | 65 | 75 | 2,052 | ||||||||||||||||||||||||
Core Plus Bond Fund | 447,010 | 310 | 491 | 1,183,283 | 59 | 64 | 74 | 14,732 | ||||||||||||||||||||||||
Unconstrained Bond Fund | 2,953,926 | 212 | 192 | 1,030,620 | 51 | 64 | 46,567 | 25,048 | ||||||||||||||||||||||||
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 | — | — | 13 | — | 44 | 49 | — | 69 | ||||||||||||||||||||||||
Mid Cap Fund | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Small Cap Fund | — | — | — | — | 172 | 104 | — | 77 | ||||||||||||||||||||||||
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 |
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, 2016 to October 31, 2019 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, 2016, June 30, 2017, and October 31, 2017 to October 31, 2019) 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, 2020 is estimated):
Capital Appreciation Fund | International Stock Fund | Tactical Allocation Fund | Growth & Income Fund | Mid Cap Growth Fund | Small Cap Growth Fund | |||||||||||||||||||||||
Ordinary Income | 11/1/19 to 4/30/20 | $2,454,844 | $264,615 | $310,392 | $9,141,017 | $ — | $ — | |||||||||||||||||||||
11/1/18 to 10/31/19 | 1,421,956 | 226,694 | 240,950 | 15,033,842 | 11,158,308 | — | ||||||||||||||||||||||
Long-term capital gain | 11/1/19 to 4/30/20 | 6,949,788 | — | 26,988 | 23,218,968 | 123,370,282 | 247,721,477 | |||||||||||||||||||||
11/1/18 to 10/31/19 | 36,924,441 | — | 730,321 | 42,583,763 | 104,478,643 | 819,288,090 |
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International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | Core Plus Bond Fund | Unconstrained Bond Fund | |||||||||||||||||||||||
Ordinary Income | 11/1/19 to 4/30/20 | $18,073,784 | $19,148,632 | $ — | $3,401,385 | $19,808,077 | $13,114,703 | |||||||||||||||||||||
11/1/18 to 10/31/19 | 32,961,534 | 11,985,517 | 370,922 | 2,463,393 | 14,343,374 | 24,665,538 | ||||||||||||||||||||||
Long-term capital gain | 11/1/19 to 4/30/20 | 36,432,138 | 2,100,481 | 12,635,960 | — | — | — | |||||||||||||||||||||
11/1/18 to 10/31/19 | 46,188,081 | 162,275,273 | 287,002 | — | — | — |
At October 31, 2019, 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 | $350,472,790 | $11,251,894 | $23,029,782 | $581,585,927 | $4,530,034,643 | $3,253,892,025 | ||||||||||||||||||
Gross unrealized appreciation | 207,165,548 | 1,695,585 | 1,430,665 | 250,139,431 | 1,403,111,508 | 1,229,302,177 | ||||||||||||||||||
Gross unrealized depreciation | (10,274,469 | ) | (655,787 | ) | (45,272 | ) | (4,870,764 | ) | (224,689,439 | ) | (269,892,837 | ) | ||||||||||||
Net unrealized appreciation/(depreciation) | 196,891,079 | 1,039,798 | 1,385,393 | 245,268,667 | 1,178,422,069 | 959,409,340 | ||||||||||||||||||
Undistributed ordinary income | 2,299,938 | 264,615 | 191,168 | 2,423,085 | — | — | ||||||||||||||||||
Undistributed long-term gain | 6,949,690 | — | 26,983 | 23,218,907 | 123,272,391 | 247,184,524 | ||||||||||||||||||
Total undistributed earnings | 9,249,628 | 264,615 | 218,151 | 25,641,992 | 123,272,391 | 247,184,524 | ||||||||||||||||||
Other accumulated losses | — | (915,852 | ) | — | (2,274 | ) | (8,904,083 | ) | (30,451,344 | ) | ||||||||||||||
Total distributable earnings (loss) | $206,140,707 | $388,561 | $1,603,544 | $270,908,385 | $1,292,790,377 | $1,176,142,520 | ||||||||||||||||||
International Fund | Mid Cap Fund | Small Cap Fund | Core Bond Fund | Core Plus Bond Fund | Unconstrained Bond Fund | |||||||||||||||||||
Cost of investments | $497,252,598 | $2,551,086,427 | $223,307,711 | $117,796,805 | $706,262,982 | $989,013,951 | ||||||||||||||||||
Gross unrealized appreciation | 258,483,326 | 398,072,218 | 123,546,194 | 1,302,517 | 8,508,887 | 8,618,615 | ||||||||||||||||||
Gross unrealized depreciation | (42,099,911 | ) | (85,740,654 | ) | (20,560,071 | ) | (359,893 | ) | (2,257,623 | ) | (1,395,190 | ) | ||||||||||||
Net unrealized appreciation/(depreciation) | 216,383,415 | 312,331,564 | 102,986,123 | 942,624 | 6,251,264 | 7,223,425 | ||||||||||||||||||
Undistributed ordinary income | 6,250,167 | 15,322,785 | — | 2,501,433 | 14,714,533 | 6,586,652 | ||||||||||||||||||
Undistributed long-term gain | 36,431,895 | 2,100,074 | 12,539,896 | — | — | — | ||||||||||||||||||
Total undistributed earnings | 42,682,062 | 17,422,859 | 12,539,896 | 2,501,433 | 14,714,533 | 6,586,652 | ||||||||||||||||||
Other accumulated losses | (94,232 | ) | 30 | (345,189 | ) | — | — | (27,702,019 | ) | |||||||||||||||
Total distributable earnings (loss) | $258,971,245 | $329,754,453 | $115,180,830 | $3,444,057 | $20,965,797 | $(13,891,942 | ) |
At October 31, 2019, the difference between book-basis andtax-basis unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses from wash sales and differences in the accounting treatment fornon-REIT returns of capital, investments in passive foreign investment companies and swaps.
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NOTE 6 | Other Derivative Information | At April 30, 2020, 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 | Premiums paid - open swap contracts | $161,073 | N/A | ||||||||
|
| |||||||||||
Total | $161,073 | N/A | ||||||||||
|
| |||||||||||
Core Plus Bond Fund | Credit | Premiumsreceived - open swap contracts | N/A | $5,474,594 | ||||||||
Credit | Unrealizeddepreciation - open swap contracts | N/A | 349,916 | |||||||||
Interest rate | Unrealizedappreciation - open futures contracts | $77,671 | N/A | |||||||||
Currency | Unrealizedappreciation - open forward contracts | 320,998 | N/A | |||||||||
|
| |||||||||||
Total | $398,669 | $5,824,510 | ||||||||||
|
| |||||||||||
Unconstrained Bond Fund | Credit | Premiumsreceived - open swap contracts | N/A | $16,376,119 | ||||||||
Credit | Unrealizedappreciation - open swap contracts | $1,538,863 | N/A | |||||||||
Credit | Unrealizeddepreciation - open swap contracts | N/A | 1,491,520 | |||||||||
Interest rate | Unrealizeddepreciation - open futures contracts | N/A | 7,972,997 | |||||||||
Currency | Unrealizedappreciation - open forward contracts | 4,453,437 | N/A | |||||||||
Currency | Unrealizeddepreciation - open forward contracts | N/A | 2,907,183 | |||||||||
|
| |||||||||||
Total | $5,992,300 | $28,747,819 | ||||||||||
|
|
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, 2020, 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, 2020, 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 | Swap contracts | $(920,036 | ) | $(31,198 | ) | ||||||
|
| |||||||||||
Total | $(920,036 | ) | $(31,198 | ) | ||||||||
|
| |||||||||||
Core Plus Bond Fund | Credit | Swap contracts | $(9,087,860 | ) | $(808,034 | ) | ||||||
Interest rate | Futures contracts | (494,815 | ) | 77,671 | ||||||||
Currency | Forward contracts | — | 320,998 | |||||||||
|
| |||||||||||
Total | $(9,582,675 | ) | $(409,365 | ) | ||||||||
|
| |||||||||||
Unconstrained Bond Fund | Credit | Swap contracts | $(26,325,987 | ) | $(728,014 | ) | ||||||
Interest rate | Futures contracts | (2,036,705 | ) | (7,972,997 | ) | |||||||
Currency | Forward contracts | — | 1,546,254 | |||||||||
|
| |||||||||||
Total | $(28,362,692 | ) | $(7,154,757 | ) | ||||||||
|
|
Refer to Note 2 for additional information regarding investments in derivatives.
NOTE 7 | Securities lending | To earn additional income, each Fund may loan portfolio securities to qualified broker dealers. The primary objective of securities lending is to supplement a Fund’s income through investment of the cash collateral in short-term interest bearing obligations. The collateral for a Fund’s loans will bemarked-to-market daily so that at all times the collateral exceeds 100% of the value of the loan. A Fund may terminate such loans at any time and the market risk applicable to any security loaned remains its risk. Although voting rights, or rights to consent, with respect to the loaned securities pass to the borrower, a Fund retains the right to call the loans at any time on reasonable notice, and it may choose to do so in order that the securities may be voted by it if the holders of such securities are asked to vote upon or consent to matters materially affecting the investment. A Fund also may call such loans in order to sell the securities involved. The borrower must add to the collateral whenever the market value of the securities rises above the level of such collateral. While securities are on loan, the Funds continue to receive certain income associated with that security and any gain or loss in the market price that may occur during the term of the loan. In the case of domestic equities, the value of any dividend is received in the form of a substitute payment approximately equal to the dividend. In the case of foreign securities, a negotiated amount may be received that is less than the actual dividend, but higher than the dividend amount minus the foreign tax that the Funds would be subject to on the dividend. Securities loans involve some risk. There is a risk that a borrower may default on its obligations to return loaned securities; however, the funds’ securities lending agent may indemnify a Fund against that risk. A Fund could incur a loss if the borrower should fail financially at a time when
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the value of the loaned securities is greater than the collateral, and a Fund could lose rights in the collateral should the borrower fail financially. The securities in which the collateral is invested may not perform sufficiently to cover the return collateral payments owed to borrowers. In addition, delays may occur in the recovery of securities from borrowers, which could interfere with a fund’s ability to vote proxies or to settle transactions. A Fund will also be responsible for the risks associated with the investment of cash collateral. In any case in which the loaned securities are not returned to a Fund before anex-dividend date, the payment in lieu of the dividend that a fund receives from the securities’ borrower would not be treated as a dividend for federal income tax purposes and thus would not qualify for treatment as “qualified dividend income.”
Each security on loan as of the date of this report is footnoted on each Fund’s Investment Portfolio, along with the total value of all securities on loan. Cash collateral received for securities on loan has been invested in the First American Government Obligations Fund Class X (the “money market fund”). The money market fund is included in each respective Fund’s Investment Portfolio and is footnoted as having been purchased with cash collateral received for securities on loan. The value of the money market fund is included as an asset on the Statements of Assets and Liabilities as part of “Investments – unaffiliated, at value.” A liability of equal value to the cash collateral received and subsequently invested in the money market fund is included on the Statements of Assets and Liabilities as “Payable for securities lending collateral received.” Income earned from securities lending, net of applicable fees, is shown on the Statement of Operations as income from “Securities lending, net.”
NOTE 8 | Line of Credit | As of April 30, 2020, 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, 2020 was 2.25% (prime rate of 3.25% minus 1.00%). The following table shows the details of the Funds’ borrowing activity during the period ended April 30, 2020. 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 | $39,441,000 | $899,951 | $16,826 | 3.70 | % | |||||||||||
International Stock Fund | 234,000 | 12,115 | 179 | 2.92 | ||||||||||||
Growth & Income Fund | 3,334,000 | 33,500 | 635 | 3.75 | ||||||||||||
Mid Cap Growth Fund | 23,244,000 | 1,286,484 | 16,795 | 2.58 | ||||||||||||
Small Cap Growth Fund | 63,878,000 | 5,898,126 | 98,429 | 3.30 | ||||||||||||
International Fund | 5,499,000 | 196,566 | 2,594 | 2.61 | ||||||||||||
Mid Cap Fund | 11,374,000 | 750,060 | 13,267 | 3.50 | ||||||||||||
Small Cap Fund | 104,000 | 571 | 11 | 3.75 |
As of April 30, 2020, International Stock Fund had outstanding borrowings of $4,000 under the line of credit.
NOTE 9 | Other Matters | An outbreak of infectious respiratory illness caused by a novel coronavirus known as COVID-19 was first detected in China in December 2019 and has subsequently spread globally. This coronavirus has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, and lower consumer demand, as well as general concern and uncertainty. The impact of COVID-19, and other infectious illness outbreaks that may arise in the future, could adversely affect the economies of many nations or the entire global economy, individual issuers and capital markets in ways that cannot necessarily be foreseen. The effects may impact the value and performance of the Funds, their ability to buy and sell investments at appropriate valuations and their ability to achieve their investment objectives.
NOTE 10 | Subsequent events | The Manager has evaluated subsequent events through June 18, 2020, 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.
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Understanding Your Ongoing Costs
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As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges on purchases, contingent deferred sales charges, or redemption fees; and (2) ongoing costs, including investment advisory fees, distribution (12b-1) fees, and other fund expenses. The following sections are intended to help you understand your ongoing costs (in dollars) of investing in each Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect one-time transaction expenses, such as sales charges or redemption fees. Therefore, if these transactional costs were included, your costs would have been higher. For more information, see your Fund’s prospectus or contact your financial adviser.
Actual expenses | The table below shows the actual expenses you would have paid on a $1,000 investment made in each Fund on November 1, 2019 and held through April 30, 2020. 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, 2019 through April 30, 2020 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 | $1,033.80 | $5.06 | $1,019.89 | $5.02 | 1.00 | % | |||||||||||||||||
Class C | 1,000.00 | 1,029.80 | 8.83 | 1,016.16 | 8.77 | 1.75 | ||||||||||||||||||
Class I | 1,000.00 | 1,035.50 | 3.54 | 1,021.38 | 3.52 | 0.70 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,032.60 | 6.32 | 1,018.65 | 6.27 | 1.25 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,035.30 | 3.54 | 1,021.38 | 3.52 | 0.70 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,036.90 | 3.04 | 1,021.88 | 3.02 | 0.60 | ||||||||||||||||||
Class Y | 1,000.00 | 1,033.60 | 5.06 | 1,019.89 | 5.02 | 1.00 | ||||||||||||||||||
International Stock Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 837.80 | 6.63 | 1,017.65 | 7.27 | 1.45 | ||||||||||||||||||
Class C | 1,000.00 | 835.30 | 10.04 | 1,013.92 | 11.02 | 2.20 | ||||||||||||||||||
Class I | 1,000.00 | 839.20 | 5.26 | 1,019.14 | 5.77 | 1.15 | ||||||||||||||||||
Class R-3 | 1,000.00 | 836.80 | 7.76 | 1,016.41 | 8.52 | 1.70 | ||||||||||||||||||
Class R-5 | 1,000.00 | 839.50 | 5.26 | 1,019.14 | 5.77 | 1.15 | ||||||||||||||||||
Class R-6 | 1,000.00 | 839.90 | 4.80 | 1,019.64 | 5.27 | 1.05 | ||||||||||||||||||
Class Y | 1,000.00 | 838.10 | 6.63 | 1,017.65 | 7.27 | 1.45 | ||||||||||||||||||
Tactical Allocation Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 985.00 | 5.77 | 1,019.05 | 5.87 | 1.17 | ||||||||||||||||||
Class C | 1,000.00 | 981.10 | 9.46 | 1,015.32 | 9.62 | 1.92 | ||||||||||||||||||
Class I | 1,000.00 | 986.30 | 4.30 | 1,020.54 | 4.37 | 0.87 | ||||||||||||||||||
Class R-3 | 1,000.00 | 984.00 | 7.00 | 1,017.80 | 7.12 | 1.42 | ||||||||||||||||||
Class R-5 | 1,000.00 | 986.80 | 4.30 | 1,020.54 | 4.37 | 0.87 | ||||||||||||||||||
Class R-6 | 1,000.00 | 987.20 | 3.80 | 1,021.03 | 3.87 | 0.77 | ||||||||||||||||||
Class Y | 1,000.00 | 984.60 | 5.77 | 1,019.05 | 5.87 | 1.17 | ||||||||||||||||||
Growth & Income Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 904.50 | 4.55 | 1,020.09 | 4.82 | 0.96 | ||||||||||||||||||
Class C | 1,000.00 | 901.20 | 8.18 | 1,016.26 | 8.67 | 1.73 | ||||||||||||||||||
Class I | 1,000.00 | 906.00 | 3.32 | 1,021.38 | 3.52 | 0.70 | ||||||||||||||||||
Class R-3 | 1,000.00 | 903.50 | 6.01 | 1,018.55 | 6.37 | 1.27 | ||||||||||||||||||
Class R-5 | 1,000.00 | 906.10 | 3.32 | 1,021.38 | 3.52 | 0.70 | ||||||||||||||||||
Class R-6 | 1,000.00 | 903.60 | 2.89 | 1,021.83 | 3.07 | 0.61 | ||||||||||||||||||
Class Y | 1,000.00 | 904.30 | 5.11 | 1,019.49 | 5.42 | 1.08 | ||||||||||||||||||
Mid Cap Growth Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 992.20 | 5.20 | 1,019.64 | 5.27 | 1.05 | ||||||||||||||||||
Class C | 1,000.00 | 988.70 | 8.65 | 1,016.16 | 8.77 | 1.75 | ||||||||||||||||||
Class I | 1,000.00 | 993.70 | 3.62 | 1,021.23 | 3.67 | 0.73 | ||||||||||||||||||
Class R-3 | 1,000.00 | 990.90 | 6.53 | 1,018.30 | 6.62 | 1.32 | ||||||||||||||||||
Class R-5 | 1,000.00 | 993.70 | �� | 3.72 | 1,021.13 | 3.77 | 0.75 | |||||||||||||||||
Class R-6 | 1,000.00 | 994.20 | 3.17 | 1,021.68 | 3.22 | 0.64 | ||||||||||||||||||
Class Y | 1,000.00 | 992.40 | 4.95 | 1,019.89 | 5.02 | 1.00 |
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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 | $951.70 | $5.43 | $1,019.29 | $5.62 | 1.12 | % | |||||||||||||||||
Class C | 1,000.00 | 948.80 | 8.67 | 1,015.96 | 8.97 | 1.79 | ||||||||||||||||||
Class I | 1,000.00 | 953.20 | 3.89 | 1,020.89 | 4.02 | 0.80 | ||||||||||||||||||
Class R-3 | 1,000.00 | 950.70 | 6.50 | 1,018.20 | 6.72 | 1.34 | ||||||||||||||||||
Class R-5 | 1,000.00 | 953.50 | 3.79 | 1,020.98 | 3.92 | 0.78 | ||||||||||||||||||
Class R-6 | 1,000.00 | 954.10 | 3.21 | 1,021.58 | 3.32 | 0.66 | ||||||||||||||||||
Class Y | 1,000.00 | 951.20 | 6.06 | 1,018.65 | 6.27 | 1.25 | ||||||||||||||||||
International Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 825.00 | 6.58 | 1,017.65 | 7.27 | 1.45 | ||||||||||||||||||
Class C | 1,000.00 | 822.00 | 9.97 | 1,013.92 | 11.02 | 2.20 | ||||||||||||||||||
Class I | 1,000.00 | 825.90 | 5.22 | 1,019.14 | 5.77 | 1.15 | ||||||||||||||||||
Class R-3 | 1,000.00 | 824.00 | 7.71 | 1,016.41 | 8.52 | 1.70 | ||||||||||||||||||
Class R-5 | 1,000.00 | 826.60 | 5.22 | 1,019.14 | 5.77 | 1.15 | ||||||||||||||||||
Class R-6 | 1,000.00 | 826.60 | 4.77 | 1,019.64 | 5.27 | 1.05 | ||||||||||||||||||
Class Y | 1,000.00 | 825.20 | 6.58 | 1,017.65 | 7.27 | 1.45 | ||||||||||||||||||
Mid Cap Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 882.10 | 5.66 | 1,018.85 | 6.07 | 1.21 | ||||||||||||||||||
Class C | 1,000.00 | 879.00 | 9.34 | 1,014.92 | 10.02 | 2.00 | ||||||||||||||||||
Class I | 1,000.00 | 883.60 | 4.64 | 1,019.94 | 4.97 | 0.99 | ||||||||||||||||||
Class R-3 | 1,000.00 | 881.30 | 7.06 | 1,017.35 | 7.57 | 1.51 | ||||||||||||||||||
Class R-5 | 1,000.00 | 883.80 | 4.40 | 1,020.19 | 4.72 | 0.94 | ||||||||||||||||||
Class R-6 | 1,000.00 | 883.90 | 4.12 | 1,020.49 | 4.42 | 0.88 | ||||||||||||||||||
Class Y | 1,000.00 | 881.90 | 5.99 | 1,018.50 | 6.42 | 1.28 | ||||||||||||||||||
Small Cap Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 898.60 | 5.71 | 1,018.85 | 6.07 | 1.21 | ||||||||||||||||||
Class C | 1,000.00 | 894.80 | 9.42 | 1,014.92 | 10.02 | 2.00 | ||||||||||||||||||
Class I | 1,000.00 | 899.50 | 4.49 | 1,020.14 | 4.77 | 0.95 | ||||||||||||||||||
Class R-3 | 1,000.00 | 897.20 | 7.08 | 1,017.40 | 7.52 | 1.50 | ||||||||||||||||||
Class R-5 | 1,000.00 | 899.50 | 4.49 | 1,020.14 | 4.77 | 0.95 | ||||||||||||||||||
Class R-6 | 1,000.00 | 899.70 | 4.01 | 1,020.64 | 4.27 | 0.85 | ||||||||||||||||||
Class Y | 1,000.00 | 898.10 | 5.90 | 1,018.65 | 6.27 | 1.25 | ||||||||||||||||||
Core Bond Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,090.20 | 4.16 | 1,020.89 | 4.02 | 0.80 | ||||||||||||||||||
Class C | 1,000.00 | 1,086.10 | 8.04 | 1,017.16 | 7.77 | 1.55 | ||||||||||||||||||
Class I | 1,000.00 | 1,091.30 | 2.08 | 1,022.87 | 2.01 | 0.40 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,088.70 | 5.45 | 1,019.64 | 5.27 | 1.05 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,091.60 | 2.60 | 1,022.38 | 2.51 | 0.50 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,092.10 | 2.08 | 1,022.87 | 2.01 | 0.40 | ||||||||||||||||||
Class Y | 1,000.00 | 1,090.00 | 4.16 | 1,020.89 | 4.02 | 0.80 | ||||||||||||||||||
Core Plus Bond Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,079.20 | 4.14 | 1,020.89 | 4.02 | 0.80 | ||||||||||||||||||
Class C | 1,000.00 | 1,077.00 | 8.00 | 1,017.16 | 7.77 | 1.55 | ||||||||||||||||||
Class I | 1,000.00 | 1,083.10 | 2.07 | 1,022.87 | 2.01 | 0.40 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,079.60 | 5.43 | 1,019.64 | 5.27 | 1.05 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,082.50 | 2.59 | 1,022.38 | 2.51 | 0.50 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,083.10 | 2.07 | 1,022.87 | 2.01 | 0.40 | ||||||||||||||||||
Class Y | 1,000.00 | 1,080.60 | 4.14 | 1,020.89 | 4.02 | 0.80 | ||||||||||||||||||
Unconstrained Bond Fund | ||||||||||||||||||||||||
Class A | 1,000.00 | 1,020.60 | 4.02 | 1,020.89 | 4.02 | 0.80 | ||||||||||||||||||
Class C | 1,000.00 | 1,017.90 | 7.78 | 1,017.16 | 7.77 | 1.55 | ||||||||||||||||||
Class I | 1,000.00 | 1,022.80 | 2.51 | 1,022.38 | 2.51 | 0.50 | ||||||||||||||||||
Class R-3 | 1,000.00 | 1,020.80 | 5.28 | 1,019.64 | 5.27 | 1.05 | ||||||||||||||||||
Class R-5 | 1,000.00 | 1,022.80 | 2.51 | 1,022.38 | 2.51 | 0.50 | ||||||||||||||||||
Class R-6 | 1,000.00 | 1,023.30 | 2.01 | 1,022.87 | 2.01 | 0.40 | ||||||||||||||||||
Class Y | 1,000.00 | 1,021.10 | 4.02 | 1,020.89 | 4.02 | 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 (182), and then dividing that result by the actual number of days in the fiscal year (366).
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Risk | Carillon ClariVest Capital Appreciation Fund | Carillon Fund | Carillon Fund | Carillon Eagle Growth & Income Fund | Carillon Eagle Mid Cap Growth Fund | Carillon Eagle Small Cap Growth Fund | ||||||||||||||||||
Allocation | X | |||||||||||||||||||||||
Call | X | |||||||||||||||||||||||
Commodities | X | |||||||||||||||||||||||
Credit | X | |||||||||||||||||||||||
Credit ratings | X | |||||||||||||||||||||||
Dividend paying stocks | X | |||||||||||||||||||||||
Emerging markets | X | |||||||||||||||||||||||
Equity securities | X | X | X | X | X | 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, Fixed Income 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 | ||||||||||||||||||||||
Recent Market Events | X | X | X | X | X | X | ||||||||||||||||||
Redemptions | X | |||||||||||||||||||||||
Sectors | X | X | X | |||||||||||||||||||||
Securities Lending | X | X | X | X | X | X | ||||||||||||||||||
Small-cap companies | X | X | X | |||||||||||||||||||||
United Kingdom securities | X | |||||||||||||||||||||||
U.S. Government securities and Government sponsored enterprises | X | |||||||||||||||||||||||
U.S. Treasury obligations | X | |||||||||||||||||||||||
Value stocks | X | X |
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Risk | Carillon Scout International Fund | Carillon Scout Mid Cap Fund | Carillon Scout Small Cap Fund | Carillon Reams Core Bond Fund | Carillon Reams Core Plus Bond Fund | Carillon Reams Unconstrained Bond Fund | ||||||||||||||||||
Credit | X | X | X | |||||||||||||||||||||
Credit ratings | X | X | X | |||||||||||||||||||||
Derivatives | X | X | X | |||||||||||||||||||||
Emerging markets | X | X | X | X | ||||||||||||||||||||
Equity securities | 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 | |||||||||||||||||||||
Libor | X | |||||||||||||||||||||||
Liquidity | X | X | X | X | ||||||||||||||||||||
Market, Fixed Income Market and Stock Market | X | X | X | 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 | |||||||||||||||||||
Recent Market Events | X | X | X | X | X | X | ||||||||||||||||||
Redemptions | X | X | X | |||||||||||||||||||||
Sectors | X | |||||||||||||||||||||||
Securities Lending | X | X | X | X | X | X | ||||||||||||||||||
Short sales | X | |||||||||||||||||||||||
Small-cap companies | X | X | ||||||||||||||||||||||
United Kingdom securities | X | |||||||||||||||||||||||
U.S. Government securities and Government sponsored enterprises | X | X | X | |||||||||||||||||||||
U.S. Treasury obligations | X | X | X | |||||||||||||||||||||
Valuation | X | X | X | |||||||||||||||||||||
Value stocks | X | X | X |
Allocation | Allocation risk means that a fund is subject to different levels and combinations of risk based on its actual allocation among the various asset classes. The potential impact of the risks related to an asset class depends on the size of a fund’s investment allocation to it. Also, a fund’ssub-adviser may not allocate among the asset classes in a way that produces the intended result.
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.
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Credit | A fund could lose money if the issuer of a fixed income security is unable or unwilling, or is perceived as unable or unwilling (whether by market participants, ratings agencies, pricing services or otherwise) to meet its financial obligations or goes bankrupt. Securities are subject to varying degrees of credit risk, which are often reflected in their credit ratings. The downgrade of the credit rating of a security held by a fund may decrease its value. Credit risk usually applies to most fixed income securities. U.S. government securities, especially those that are not backed by the full faith and credit of the U.S. Treasury, such as securities supported only by the credit of the issuing governmental agency or government-sponsored enterprise, carry at least some risk of nonpayment, and the maximum potential liability of the issuers of such securities may greatly exceed their current resources. There is no assurance that the U.S. government would provide financial support to the issuing entity if not obligated to do so by law. Further, any government guarantees on U.S. government securities that a fund owns extend only to the timely payment of interest and the repayment of principal on the securities themselves and do not extend to the market value of the securities themselves or to shares of the fund.
Credit Ratings | Ratings by nationally recognized rating agencies represent the agencies’ opinion of the credit quality of an issuer. However, these ratings are not absolute standards of quality and do not guarantee the creditworthiness of an issuer. Ratings do not necessarily address market risk and may not be revised quickly enough to reflect changes in an issuer’s financial condition.
Derivatives | Derivatives, such as options, futures contracts, currency forwards or swap agreements, may involve greater risks than if a fund had invested in the reference obligation directly. Derivatives are subject to general market risks, liquidity risks, interest rate risk, and credit risks. Derivatives also present the risk that the other party to the transaction will fail to perform. Derivatives also involve an increased risk of mispricing or improper valuation of the derivative instrument, and imperfect correlation between the value of the derivative and the underlying instrument so that a fund may not realize the intended benefits. When used for hedging, changes in the value of the derivative may also not correlate perfectly with the underlying asset, rate or index. Derivatives risk may be more significant when derivatives are used to enhance fund returns, increase liquidity, manage the duration of a fund’s portfolio and/or gain exposure to certain instruments or markets, rather than solely to hedge the risk of a position held by the fund. Derivatives can cause a fund to participate in losses (as well as gains) in an amount that significantly exceeds the fund’s initial investment. Also, suitable derivative transactions may not be available in all circumstances and there can be no assurance that a fund will engage in these transactions to reduce exposure to other risks when that would be beneficial. The regulation of cleared and uncleared swap agreements, as well as other derivatives, is a rapidly changing area of law and is subject to modification by government and judicial action. It is not possible to predict fully the effects of current or future regulation. Changes in government regulation of various types of derivatives instruments may make derivatives more costly or limit the availability of derivatives, which may limit or prevent a fund from using certain types of derivative instruments as part of its investment strategy; may affect the character, timing of recognition and amount of a fund’s taxable income or recognized gains or losses; or may otherwise adversely affect the value or performance of derivatives. Compared to other types of investments, derivatives may also be less tax efficient. A fund’s use of derivatives may be limited by the requirements for taxation of the fund as a regulated investment company.
• | Swap Agreements. Swaps can involve greater risks than a direct investment in an underlying asset, because swaps typically include a certain amount of embedded leverage and as such are subject to leveraging risk. If swaps are used as a hedging strategy, a fund is subject to the risk that the hedging strategy may not eliminate the risk that it is intended to offset, due to, among other reasons, a lack of correlation between the swaps and the portfolio of assets that the swaps are designed |
to hedge or replace. Swaps also may be difficult to value. Swaps may be subject to liquidity risk and counterparty risk. Swaps that are tradedover-the-counter are not subject to standardized clearing requirements and may involve greater liquidity and counterparty risks. Credit default swaps may be subject to credit risk and the risks associated with the purchase and sale of credit protection. With respect to a credit default swap, if a fund is selling credit protection, there is a risk a fund is subject to many of the same risks it would be if it were holding debt obligations of the issuer; however, a fund would not have any recourse against such issuer and would not benefit from any collateral securing such issuer’s debt obligations. Therefore, when selling protection, a fund could be forced to liquidate other assets upon the occurrence of a credit event in order to pay the counterparty. There is also the risk that the transaction may beclosed-out at a time when the credit quality of the underlying investment has deteriorated, in which case a fund may need to make an early termination payment. If a fund is buying credit protection, there is the risk that no credit event will occur and a fund will receive no benefit (other than any hedging benefit) for the premium paid. There is also the risk that the transaction may beclosed-out at a time when the credit quality of the underlying investment has improved, in which case a fund may need to make an early termination payment. |
• | Futures and Forward Contracts. Futures and forward contracts are derivative instruments pursuant to a contract where the parties agree to a fixed price for an agreed amount of securities or other underlying assets at an agreed date or to buy or sell a specific currency at a future date at a price set at the time of the contract. There may at times be an imperfect correlation between the movement in the prices of futures contracts and the value of their underlying instruments or indexes. There are no limitations on daily price movements of forward contracts. There can be no assurance that any strategy used will succeed. Not all forward contracts require a counterparty to post collateral, which may expose a fund to greater losses in the event of a default by a counterparty. There may not be a liquid secondary market for the futures contracts. Forward currency transactions include the risks associated with fluctuations in currency. Interest rate and Treasury futures contracts expose a fund to price fluctuations resulting from changes in interest rates. A fund could suffer a loss if interest rates rise after a fund has purchased an interest rate futures contract or fall after a fund has sold an interest rate futures contract. Similarly, Treasury futures contracts expose a fund to potential losses if interest rates do not move as expected. Fixed income index futures contracts expose the fund to volatility in an underlying securities index. |
• | Options. The movements experienced by a fund between the prices of options and prices of the assets (or indices) underlying such options, may differ from expectations, and may cause a fund to not achieve its objective. The seller (writer) of a call option that is covered (i.e., the writer holds the underlying security) assumes the risk of a decline in the market price of the underlying security below the purchase price of the underlying security less the premium received, and gives up the opportunity for gain on the underlying assets above the exercise price of the option. The seller of an uncovered call option assumes the risk of a theoretically unlimited increase in the market price of the underlying assets above the exercise price of the option. The securities necessary to satisfy the exercise of the call option may be unavailable for purchase by such writer except at much higher prices. Purchasing securities to satisfy the exercise of the call option can itself cause the price of the securities to rise further, sometimes by a significant amount, thereby exacerbating the loss. The buyer of a call option assumes the risk of losing its entire investment in the call option. The seller (writer) of a put option that is covered (i.e., the writer has a short position in the underlying assets) assumes the risk of an increase in the market price of the underlying assets above the sales price (in establishing the short position) of the underlying assets plus the premium received, and |
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gives up the opportunity for gain on the underlying assets below the exercise price of the option. The seller of an uncovered put option assumes the risk of a decline in the market price of the underlying assets below the exercise price of the option. The buyer of a put option assumes the risk of losing its entire investment in the put option. In the event that an option on futures is exercised, the parties will be subject to all the risks associated with the trading of futures contracts, such as payment of variation margin deposits. In addition, the writer of an option, unlike the holder, generally is subject to initial and variation margin requirements on the option position. There can be no guarantee that the use of options will increase a fund’s return or income. In addition, there may be an imperfect correlation between the movement in prices of options and the securities underlying them, and there may at times not be a liquid secondary market for options. |
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. |
• | 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. |
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
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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 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 rate | 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 eight years, a 1% increase in interest rates could be expected to result in a 8% decrease in the value of the bond. The Federal Reserve has raised and lowered the federal funds rate several times since December 2015 and may increase or decrease 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
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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.
LIBOR | Certain of the instruments identified in a fund’s principal investment strategies have variable or floating coupon rates that are based on the LIBOR, Euro Interbank Offered Rate and other similar types of reference rates (each, a “Reference Rate”). In June 2017, the Alternative Reference Rates Committee, a group of large U.S. banks working with the Federal Reserve, announced its selection of a new SOFR, which is intended to be a broad measure of overnight U.S. Treasury repurchase agreement rates, as an appropriate replacement for U.S. dollar LIBOR. The Federal Reserve Bank of New York began publishing the SOFR in 2018, with the expectation that it could be used on a voluntary basis in new instruments and transactions. Bank working groups and regulators in other countries have suggested other alternatives for their markets to replace sterling LIBOR. On July 27, 2017, the Chief Executive of the FCA, which regulates LIBOR, announced that the FCA will no longer persuade nor require banks to submit rates for the calculation of LIBOR and certain other Reference Rates after 2021. Such announcement indicates that the continuation of LIBOR and other Reference Rates on the current basis cannot and will not be guaranteed after 2021. This announcement and any additional regulatory or market changes may have an adverse impact on a fund or its investments, including increased volatility or illiquidity in markets for instruments that rely on LIBOR.
In advance of 2021, regulators and market participants are working together to identify or develop successor Reference Rates. Additionally, prior to 2021, it is expected that market participants will focus on the transition mechanisms by which the Reference Rates in existing contracts or instruments may be amended, whether through marketwide protocols, fallback contractual provisions, bespoke negotiations or amendments or otherwise. Nonetheless, the termination of certain Reference Rates presents risks to the fund. At this time, it is not possible to completely identify or predict the effect of any such changes, any establishment of alternative Reference Rates or any other reforms to Reference Rates that may be enacted in the UK or elsewhere. The elimination of a Reference Rate or any other changes or reforms to the determination or supervision of Reference Rates could have an adverse impact on the market for or value of any securities or payments linked to those Reference Rates and other financial obligations held by a fund or on its overall financial condition or results of operations. In addition, any substitute Reference Rate and any pricing adjustments imposed by a regulator or by counterparties or otherwise may adversely affect the fund’s performance and/or NAV.
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, Fixed Income Market and Stock Market | Markets may at times be volatile and the value of a fund’s stock and fixed income holdings—and the income generated by a fund’s fixed income holdings—may decline, sometimes significantly and/or rapidly, because of adverse issuer-specific conditions or general market conditions, including a broad stock market decline, which are not specifically related to a particular issuer, such as real or perceived adverse political, regulatory, market, economic or other developments, such as natural disasters, public health crises, pandemics, regional or global economic instability (including terrorism and geopolitical risks) and interest and currency rate fluctuations, that may cause broad changes in market value, changes in the general outlook for corporate earnings, public perceptions concerning these developments or adverse investment sentiment generally. 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. Adverse market conditions may be prolonged and may not have the same impact on all types of securities. Changes in value may be temporary or may last for extended periods. Even when securities markets perform well, there is no assurance that the investments held by a fund will increase in value along with the broader market.
The increasing interconnectedness of markets around the world may result in many markets being affected by events in a single country or events affecting a single or small number of issuers. Events such as natural disasters, public health crises, pandemics, governments’ reactions to and public perceptions concerning these developments, and adverse investor sentiment could cause uncertainty in the markets and may adversely affect the performance of the global economy. Terrorism and related geopolitical risks, including tensions or open conflict between nations, or political or economic dysfunction within some nations that are major players on the world stage or major producers of oil 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. Likewise, systemic market dislocations of the kind that occurred during the financial crisis in 2008, if repeated, would be highly disruptive to economies and markets, adversely affecting individual companies and industries, securities markets, interest rates, credit ratings, inflation, investor sentiment and other factors affecting the value of a fund’s investments.
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
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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.
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. Asub-adviser’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.
Recent Market Events | Prices in many financial markets have increased significantly over the last decade, but there have also been periods of adverse market and financial developments and cyclical change during that timeframe, which have resulted in unusually high levels of volatility in domestic and foreign financial markets that has caused losses for investors and may occur again in the future, particularly if markets enter a period of uncertainty or economic weakness. Periods of unusually high volatility in the financial markets and restrictive credit conditions, sometimes limited to a particular sector or geographic region, continue to recur. Decisions by the Federal Reserve System (also known as “the Fed”) regarding interest rate and monetary policy, which can be difficult to predict and sometimes change direction suddenly in response to economic and market events, continue to have a significant impact on securities prices as well as the overall strength of the U.S. economy. The Fed has spent hundreds of billions of dollars to keep credit flowing through short-term money markets sincemid-September 2019 when a shortage of liquidity caused a spike in overnight borrowing rates. The Fed has signaled that it plans to maintain its interventions at an elevated level. Amid the Fed’s ongoing efforts, concerns about the markets’ dependence on the Fed’s daily doses of liquidity have grown.
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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. A rise in protectionist trade policies, slowing global economic growth, risks associated with ongoing trade negotiations with China, risks associated with the United Kingdom’s departure from the European Union on January 31, 2020 and trade agreement negotiations during the transition period, and the possibility of changes to some international trade agreements, could affect the economies of many nations, including the United States, in ways that cannot necessarily be foreseen at the present time. 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.
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.
An epidemic outbreak and governments’ reactions to such a public health crisis could cause uncertainty in the markets and may adversely affect the performance of the global economy. Certain illnesses spread rapidly and have the potential to significantly and adversely affect the global economy. An outbreak of infectious respiratory illness caused by a novel coronavirus known asCOVID-19 was first detected in China in December 2019 and has now been detected globally. This coronavirus has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, and lower consumer demand, as well as general concern and uncertainty. The impact ofCOVID-19, and other infectious illness outbreaks that may arise in the future, could adversely affect the economies of many nations or the entire global economy, individual issuers and capital markets in ways that cannot necessarily be foreseen. In addition, the impact of infectious illnesses in emerging market countries may be greater due to generally less established healthcare systems. Public health crises caused by theCOVID-19 outbreak may exacerbate otherpre-existing political, social and economic risks in certain countries or globally. The duration of theCOVID-19 outbreak and its effects cannot be determined with certainty. The effect of recent efforts undertaken by the Fed to address the economic impact of theCOVID-19 pandemic, such as the reduction of the federal funds target rate, and other monetary and fiscal actions that may be taken by the U.S. federal government to stimulate the U.S. economy, are not yet known. In addition,COVID-19 could cause the need for employees and vendors at various businesses, including Carillon Towers Advisers, Inc. (“Carillon Tower”) or a fund’ssub-adviser, to work at external locations, and extensive medical absences. Carillon Tower and the funds’sub-advisers have policies and procedures to address known situations, but because a large epidemic may create significant market and business uncertainties and disruptions, not all events that could affect the business of Carillon Tower or a fund’ssub-adviser can be determined and addressed in advance.
Economists and others have expressed increasing concern about the potential effects of global climate change on property and security values. A rise in sea levels, an increase in powerful windstorms and/or a climate-driven increase in sea levels or flooding could cause coastal properties to lose value or become unmarketable altogether. Economists warn that, unlike previous declines in the
real estate market, properties in affected coastal zones may not ever recover their value. Large wildfires driven by high winds and prolonged drought may devastate businesses and entire communities and may be very costly to any business found to be responsible for the fire. Regulatory changes and divestment movements tied to concerns about climate change could adversely affect the value of certain land and the viability of industries whose activities or products are seen as accelerating climate change. These losses could adversely affect corporate issuers and mortgage lenders, the value of mortgage-backed securities, the bonds of municipalities that depend on tax or other revenues and tourist dollars generated by affected properties, and insurers of the property and/or of corporate, municipal or mortgage-backed securities. Since property and security values are driven largely by buyers’ perceptions, it is difficult to know the time period over which these market effects might unfold.
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 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
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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.
Securities Lending | A fund may lend its portfolio securities to brokers, dealers and financial institutions to seek income. There is a risk that a borrower may default on its obligations to return loaned securities; however, a fund’s securities lending agent may indemnify the fund against that risk. There is a risk that the assets of a fund’s securities lending agent may be insufficient to satisfy any contractual indemnification requirements to the fund. Borrowers of a fund’s securities typically provide collateral in the form of cash that is reinvested in securities. A fund will be responsible for the risks associated with the investment of cash collateral, including any collateral invested in an affiliated money market fund. A fund may lose money on its investment of cash collateral or may fail to earn sufficient income on its investment to meet obligations to the borrower. In addition, delays may occur in the recovery of securities from borrowers, which could interfere with a fund’s ability to vote proxies or to settle transactions and there is the risk of possible loss of rights in the collateral should the borrower fail financially. In any case in which the loaned securities are not returned to a fund before anex-dividend date, the payment in lieu of the dividend that the fund receives from the securities’ borrower would not be treated as a dividend for federal income tax purposes and thus would not qualify for treatment as “qualified dividend income.”
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.
United Kingdom securities | A fund’s exposure to issuers located in, or with economic ties to, the United Kingdom, could expose the fund to risks associated with investments in the United Kingdom to a greater extent than more geographically diverse funds. Investments in United Kingdom issuers may subject a fund to regulatory, political, currency, security, and economic risks specific to the United Kingdom. The United Kingdom has one of the largest economies in Europe, and the United States and other European countries are substantial trading partners of the United Kingdom. As a result, the United Kingdom economy may be impacted by changes to the economic condition of the United States and other European countries. The United Kingdom’s economy relies heavily on the export of financial services to the United States and other European countries. A prolonged slowdown in the financial services sector may have a negative impact on the United Kingdom’s economy. The United Kingdom economy, along with certain other European Union economies, experienced a significant economic slowdown during the recent financial crisis; certain United Kingdom financial institutions suffered significant losses, were
severely under-capitalized and required government intervention to survive. In the past, the United Kingdom has been a target of terrorism. Acts of terrorism in the United Kingdom or against United Kingdom interests may cause uncertainty in the United Kingdom’s financial markets and adversely affect the performance of the issuers to which a fund has exposure.
On June 23, 2016, the United Kingdom voted via referendum to leave the European Union, commonly referred to as Brexit, which immediately led to significant market volatility around the world, as well as political, economic, and legal uncertainty. On January 31, 2020, the United Kingdom left the European Union and on this date the United Kingdom entered into a transition period scheduled to end on December 31, 2020. There is still considerable uncertainty relating to the potential consequences of the exit, including with respect to the negotiations of new trade agreements during the transition period, whether Brexit will have a negative impact on the United Kingdom or the broader global economy or the value of the British pound, and whether the United Kingdom’s exit will increase the likelihood of other countries also departing the European Union. United Kingdom businesses are increasingly preparing for a disorderly Brexit as there is a risk trade negotiations between the United Kingdom and the European Union may not be completed by the end of the transition period or the outcomes are undesirable. During this period of uncertainty, the negative impact on not only the United Kingdom and European economies, but also the broader global economy, could be significant, potentially resulting in increased volatility in exchange rates and interest rates, illiquidity, and lower economic growth for companies that rely significantly on Europe for their business activities and revenues. The United Kingdom may be less stable than it has been in recent years, and investments in the United Kingdom may be difficult to value, or subject to greater or more frequent rises and falls in value. Brexit could adversely affect European or worldwide political, regulatory, economic or market conditions and could contribute to instability in global political institutions, regulatory agencies and financial markets. Brexit could also lead to legal uncertainty and politically divergent national laws and regulations as a new relationship between the United Kingdom and European Union is defined and the United Kingdom determines which European Union laws to replace or replicate. Any further exits from the European Union, or the possibility of such exits, would likely cause additional market disruption globally and introduce new legal and regulatory uncertainties. Any of these effects of Brexit could adversely affect any of the companies to which a fund has exposure and any other assets that a fund invests in.
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 interest rate risk, credit risk and market risk.
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U.S. Treasury Obligations | Securities issued or guaranteed by the U.S. Treasury are backed by the “full faith and credit” of the United States; however, the U.S. government guarantees the securities only as to the timely payment of interest and principal when held to maturity, and the market prices of such securities may fluctuate. The value of U.S. Treasury obligations may vary due to changes in interest rates. In addition, changes to the financial condition or credit rating of the U.S. government may cause the value of a fund’s investments in obligations issued by the U.S. Treasury to decline. Certain political events in the U.S., such as a prolonged government shut down, may also cause investors to lose confidence in the U.S. government and may cause the value of U.S. Treasury obligations to decline. Because U.S. Treasury securities trade actively outside the United States, their prices may also rise and fall as changes in global economic conditions affect the demand for these securities.
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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Please consider the investment objectives, risks, charges and expenses of any fund carefully before investing. Contact Carillon Fund Services 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-PORT. 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, 2020. |
(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)(3) Not applicable to the Trust.
(a)(4) Not applicable to the Trust
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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 19, 2020 | ||||||
/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 19, 2020 | /s/ Susan L. Walzer | |||||
Susan L. Walzer | ||||||
Principal Executive Officer | ||||||
Date:June 19, 2020 | /s/ Carolyn Gill | |||||
Carolyn Gill | ||||||
Principal Financial Officer |