FUND PROFILE Q32018 I SHARES

Catholic Investor Large Cap Value Fund This domestic equity fund is designed for faith-based investors and invests in accordance with the guidelines of the U.S. Conference of Catholic Bishops (USCCB).

INVESTMENT OBJECTIVE Broad Universe (Liquidity Screen) The Large Cap Value Fund pursues long- Regime Model Defines Investment Environment term capital appreciation by investing Quantitative Stock Selection Model Ranks Stocks in undervalued stocks of quality, U.S. Valuation Investor Sentiment Growth & Earnings Quality Industry Group companies. The Large Cap Value Profitability Specific - Fund team strives to capitalize on the Validation of Model Buy/Sell Candidates and Industry Rankings

inefficiencies in the equity market by using Funda mental robust, quantitative stock selection models Catholic Screening to identify undervalued companies that Portfolio Construction have attractive risk/return profiles. Stocks are ranked Typically 75-100 +/-3-5% Sector and 70-100% Risk Mgmt 1-10. We typically holdings Industry Weights Turnover Quantitative/ INVESTMENT PROCESS Fundamental buy 1s & 2s Sell 7-10s. The investment process begins with proprietary, quantitative research and PERFORMANCE (As of 9/30/2018, inception date: 2/27/2015) modeling that help us define the market environment, analyze the investment Annualized Returns universe and rank stocks from most to least QTR 1-Year 2-Year 3-Year Since Inception attractive. The portfolio team incorporates Large Cap Value Fund 5.41% 12.75% 16.55% 14.24% 8.81% a fundamental overlay to the process by reviewing buy/sell candidates and industry Russell 1000 Value Index 5.70% 9.45% 12.25% 13.55% 8.14% rankings to validate and interpret model Lipper Multi-Cap Value Class. 4.54% 9.47% 13.14% 12.85% 7.43% rankings. Catholic screens are applied to ensure that all purchase candidates meet The performance data quoted represents past performance. Past performance is not a guarantee of future results. The investment return and principal value of an investment will the USCCB investment guidelines. fluctuate so that an investor’s shares, when redeemed, may be worth less than their original cost and current performance may be higher or lower than the performance quoted. For performance data current to the most recent month end, please call 1-844-KC-FUNDS.

ABOUT THE PORTFOLIO MANAGEMENT TEAM

Boston Advisors, LLC is the sub-advisor for the Knights of Columbus equity strategies. Established in 1982, Boston Advisors is known for its hybrid investment approach, combining sophisticated, proprietary quantitative modeling with a fundamental overlay. Knights of Columbus owns 19.9% of Boston Advisors.

Boston Advisors Investment Team:

Michael J. Vogelzang, CFA David A. Hanna Douglas Riley, CFA James W. Gaul, CFA President, SVP, Director of Institutional SVP, Director of Growth Equity VP, Portfolio Manager Chief Investment Officer Portfolio Management Investing Started with firm: 2005 Started with firm: 1997 Started with firm: 2006 Started with firm: 1992 Started in industry: 1998 Started in industry: 1984 Started in industry: 1987 Started in industry: 1992

www.KofCAssetAdvisors.org 844-KC-FUNDS (844-523-8637) FUND PROFILE Catholic Investor Large Cap Value Fund Q32018

FUND INFORMATION TOP 10 HOLDINGS TOP 5 ACTIVE WEIGHTS (Excluding cash, as of 9/30/2018) (Excluding cash, as of 9/30/2018) SHARE CLASS I Shares TICKER SYMBOL KCVIX JPMorgan Chase & Co. 4.7% ICON Plc 2.6% INCEPTION DATE February 27, 2015 Bank of America Corp 3.3% Amedisys, Inc. 2.3% BENCHMARK Russell 1000 Value Chevron Corporation 3.3% Corporation 2.2% NUMBER OF HOLDINGS 69 Verizon Communications Inc. 3.1% ConocoPhillips 2.1% MINIMUM INVESTMENT $25,000 ConocoPhillips 2.7% Hershey Company 2.0% GROSS EXPENSE RATIO 1.33% Intel Corporation 2.7% BOTTOM 5 ACTIVE WEIGHTS ICON Plc 2.6% NET EXPENSE RATIO 0.90% (As of 9/30/2018) Waivers are contractual and in effect until CVS Health Corporation 2.5% February 28, 2019. In the absence of current Amedisys, Inc. 2.3% Berkshire Hathaway Inc. Class B -2.7% fee waivers, performance would be reduced. Encompass Health Corporation 2.2% Johnson & Johnson -2.2% Exxon Mobil Corporation -2.0% TOTAL 29.3% Pfizer Inc. -1.9% Holdings are subject to change. Procter & Gamble Company -1.5%

SECTOR UNDER/OVER WEIGHTS (Excluding cash, as of 9/30/2018)

Information Technology Consumer Discretionary Industrials Consumer Staples Financials Utilities Energy Real Estate Communication Services Materials -3.00% -2.00% -1.00% 0.00% 1.00% 2.00% 3.00%

ABOUT KNIGHTS OF COLUMBUS ASSET ADVISORS

Knights of Columbus Asset Advisors is the investment arm of Knights of Columbus, the world’s largest Catholic fraternal organization. We manage the Knights’ insurance assets, totaling $24 billion as of 9/30/2018. We also offer a suite of faith-based investment solutions that are managed in accordance to the USCCB investment guidelines. To learn more about our investment capabilities, please call our investor guidance line at (844) 493-4010.

Russell 1000 Value Index — The Russell 1000 Value Index measures the performance of the large-cap value segment of the U.S. equity universe. Lipper Multi-Cap Value — Funds that, by portfolio practice, invest in a variety of market capitalization ranges without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Knights of Columbus Asset Advisors serves as the investment adviser to the fund and oversees the activities of Boston Advisors as the fund’s investment sub advisor. This material must be preceded or accompanied by a current prospectus. Investors should read it carefully before investing or sending money. Investing involves risk, including possible loss of principal. There is no guarantee that the investment objective will be achieved. The Catholic Investor Funds are distributed by SEI Investments Distribution Co. (1 Freedom Valley Dr., Oaks, PA 19456), which is not affiliated with Knights of Columbus Asset Advisors or Boston Advisors, LLC. © 2018 Knights of Columbus Asset Advisors. All rights reserved. Knights of Columbus Asset Advisors, 1 Columbus Plaza, New Haven, CT 06510 APPV (10/18) www.KofCAssetAdvisors.org 844-KC-FUNDS (844-523-8637)