MUTUAL FUNDS

Our family of mutual funds offers investors a convenient option that fully leverages the Knights’ Catholic investment approach.

KNIGHTS OF COLUMBUS FUNDS - I SHARES

Fund	Benchmark	Gross Expense Ratio	*Net Expense Ratio	Ticker
Knights of Columbus Limited Duration - I Class	Bloomberg 1-3 Year U.S. Government/Credit Index Bloomberg 1-3 Year U.S. Government/Credit Index The U.S. Government/Credit Index is the non-securitized component of the U.S. Aggregate Index and was the first macro index launched by Barclays Capital. The U.S. Government/Credit Index includes Treasuries (i.e., public obligations of the U.S. Treasury that have remaining maturities of more than one year), government-related issues (i.e., agency, sovereign, supranational, and local authority debt), and corporates. The U.S. Government/Credit Index was launched on January 1, 1979, with index history backfilled to 1973, and is a subset of the U.S. Aggregate Index. The 1-3 year index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities of between 1 and 3 years and are publicly issued.	0.62 %	0.50 %	KCLIX
Knights of Columbus Core Bond - I Shares	Bloomberg U.S. Aggregate Bond Index Bloomberg U.S. Aggregate Bond Index The Bloomberg Barclays US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated,fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS and CMBS (agency and non-agency). Provided the necessary inclusion rules are met, US Aggregate eligible securities also contribute to the multi-currency Global Aggregate Index and the US Universal Index, which includes high yield and emerging markets debt. The US Aggregate Index was created in 1986 with history backfilled to January 1, 1976.	0.62 %	0.50 %	KCCIX
Knights of Columbus Large Cap Growth - I Class	Bloomberg US 1000 Growth Total Return Index Bloomberg US 1000 Growth Total Return Index Bloomberg US 1000 Growth Total Return Index provides exposure to companies with superior growth factor scores based on their earnings yield, valuation, dividend yield, and growth. The Index is constructed in a three-step process: (1) eligibility universe definition, (2) liquidity screening and (3) segmentation on the selection date. The Index is rebalanced following the selection date in March and September to ensure new and growing equities are included and that the represented companies continue to reflect growth characteristics. Additionally, Index constituents’ weights will be updated in June and December.	0.90 %	-	KCGIX
Knights of Columbus Large Cap Value - I Class	Bloomberg US 1000 Value Total Return Index Bloomberg US 1000 Value Total Return Index Bloomberg US 1000 Value Total Return Index provides exposure to companies with superior value factor scores based on their earnings yield, valuation, dividend yield, and growth. The Index is constructed in a three-step process: (1) eligibility universe definition, (2) liquidity screening and (3) segmentation on the selection date. The Index is rebalanced following the selection date in March and September to ensure new and growing equities are included and that the represented companies continue to reflect value characteristics. Additionally, Index constituents’ weights will be updated in June and December.	0.90 %	-	KCVIX
Knights of Columbus Small Cap - I Class	Bloomberg US 2000 Total Return Index Bloomberg US 2000 Total Return Index Bloomberg US 2000 Total Return Index is a float market-cap-weighted benchmark of the lower 2000 in capitalization of the Bloomberg US 3000 Index (B3000). The Index is constructed in a three-step process: (1) eligibility universe definition, (2) liquidity screening and (3) segmentation on the selection date. The Index is rebalanced following the selection date in March and September to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set. Additionally, Index constituents’ weights will be updated in June and December.	0.98 %	-	KCSIX
Knights of Columbus International Equity - I Class	Bloomberg World ex US Large & Mid Cap Total Return Index Bloomberg World ex US Large & Mid Cap Total Return Index Bloomberg World ex US Large & Mid Cap Total Return Index is one of several indexes designed to help investors benchmark their international investments. The index comprises Large and Mid-cap stocks providing coverage of Developed and Emerging Markets excluding the US. The Bloomberg World ex US Large & Mid Cap Total Return Index is a float market-cap-weighted equity benchmark that covers 85% market cap of the measured market.	1.13 %	1.10 %	KCIIX
Knights of Columbus Long/Short Equity Fund - I Class	HFRI EH: Equity Market Neutral Index HFRI EH: Equity Market Neutral Index The HFRI EH: Equity Market Neutral Index employs sophisticated quantitative techniques of analyzing price data to ascertain information about future price movement and relationships between securities, select securities for purchase and sale. These can include both Factor-based and Statistical Arbitrage/Trading Strategies.	2.05 %	2.03 %	KCEIX
Knights of Columbus U.S. All Cap Index Fund - I Class	The Knights of Columbus U.S. All Cap Index The Knights of Columbus U.S. All Cap Index The Knights of Columbus® U.S. All Cap Index consists of all common stocks and real estate investment trusts in the Solactive US Broad Market Index excluding companies that are determined by Institutional Shareholder Services to be involved with enterprises that conflict with the USCCB Guidelines. The Market Index includes the 3,000 U.S. companies with the largest free-float market capitalizations.	0.60 %	0.25 %	KCXIX
Knights of Columbus Real Estate Fund - I Class	Bloomberg US 3000 REIT Total Return Index Bloomberg US 3000 REIT Total Return Index Bloomberg US 3000 REIT Total Return Index USD is a float market-cap-weighted equity benchmark derived from membership of the Bloomberg US 3000 Index. Companies classified as per BICS with a level 3 sub-industry of REIT are eligible to be part of the Bloomberg REIT Indices. The US REIT Indices are maintained as per the Bloomberg US Domestic Corporate Actions methodology. IPOs classified as REIT are eligible for fast track additions to the US REIT Indices that include US large caps.	1.05 %	1.00 %	KCRIX
Fund	Knights of Columbus Limited Duration - I Class
Benchmark	Bloomberg 1-3 Year U.S. Government/Credit Index Bloomberg 1-3 Year U.S. Government/Credit Index The U.S. Government/Credit Index is the non-securitized component of the U.S. Aggregate Index and was the first macro index launched by Barclays Capital. The U.S. Government/Credit Index includes Treasuries (i.e., public obligations of the U.S. Treasury that have remaining maturities of more than one year), government-related issues (i.e., agency, sovereign, supranational, and local authority debt), and corporates. The U.S. Government/Credit Index was launched on January 1, 1979, with index history backfilled to 1973, and is a subset of the U.S. Aggregate Index. The 1-3 year index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities of between 1 and 3 years and are publicly issued.
Gross Expense Ratio	0.62 %
*Net Expense Ratio	0.50 %
Ticker	KCLIX
Fund	Knights of Columbus Core Bond - I Shares
Benchmark	Bloomberg U.S. Aggregate Bond Index Bloomberg U.S. Aggregate Bond Index The Bloomberg Barclays US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated,fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS and CMBS (agency and non-agency). Provided the necessary inclusion rules are met, US Aggregate eligible securities also contribute to the multi-currency Global Aggregate Index and the US Universal Index, which includes high yield and emerging markets debt. The US Aggregate Index was created in 1986 with history backfilled to January 1, 1976.
Gross Expense Ratio	0.62 %
*Net Expense Ratio	0.50 %
Ticker	KCCIX
Fund	Knights of Columbus Large Cap Growth - I Class
Benchmark	Bloomberg US 1000 Growth Total Return Index Bloomberg US 1000 Growth Total Return Index Bloomberg US 1000 Growth Total Return Index provides exposure to companies with superior growth factor scores based on their earnings yield, valuation, dividend yield, and growth. The Index is constructed in a three-step process: (1) eligibility universe definition, (2) liquidity screening and (3) segmentation on the selection date. The Index is rebalanced following the selection date in March and September to ensure new and growing equities are included and that the represented companies continue to reflect growth characteristics. Additionally, Index constituents’ weights will be updated in June and December.
Gross Expense Ratio	0.90 %
*Net Expense Ratio	-
Ticker	KCGIX
Fund	Knights of Columbus Large Cap Value - I Class
Benchmark	Bloomberg US 1000 Value Total Return Index Bloomberg US 1000 Value Total Return Index Bloomberg US 1000 Value Total Return Index provides exposure to companies with superior value factor scores based on their earnings yield, valuation, dividend yield, and growth. The Index is constructed in a three-step process: (1) eligibility universe definition, (2) liquidity screening and (3) segmentation on the selection date. The Index is rebalanced following the selection date in March and September to ensure new and growing equities are included and that the represented companies continue to reflect value characteristics. Additionally, Index constituents’ weights will be updated in June and December.
Gross Expense Ratio	0.90 %
*Net Expense Ratio	-
Ticker	KCVIX
Fund	Knights of Columbus Small Cap - I Class
Benchmark	Bloomberg US 2000 Total Return Index Bloomberg US 2000 Total Return Index Bloomberg US 2000 Total Return Index is a float market-cap-weighted benchmark of the lower 2000 in capitalization of the Bloomberg US 3000 Index (B3000). The Index is constructed in a three-step process: (1) eligibility universe definition, (2) liquidity screening and (3) segmentation on the selection date. The Index is rebalanced following the selection date in March and September to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set. Additionally, Index constituents’ weights will be updated in June and December.
Gross Expense Ratio	0.98 %
*Net Expense Ratio	-
Ticker	KCSIX
Fund	Knights of Columbus International Equity - I Class
Benchmark	Bloomberg World ex US Large & Mid Cap Total Return Index Bloomberg World ex US Large & Mid Cap Total Return Index Bloomberg World ex US Large & Mid Cap Total Return Index is one of several indexes designed to help investors benchmark their international investments. The index comprises Large and Mid-cap stocks providing coverage of Developed and Emerging Markets excluding the US. The Bloomberg World ex US Large & Mid Cap Total Return Index is a float market-cap-weighted equity benchmark that covers 85% market cap of the measured market.
Gross Expense Ratio	1.13 %
*Net Expense Ratio	1.10 %
Ticker	KCIIX
Fund	Knights of Columbus Long/Short Equity Fund - I Class
Benchmark	HFRI EH: Equity Market Neutral Index HFRI EH: Equity Market Neutral Index The HFRI EH: Equity Market Neutral Index employs sophisticated quantitative techniques of analyzing price data to ascertain information about future price movement and relationships between securities, select securities for purchase and sale. These can include both Factor-based and Statistical Arbitrage/Trading Strategies.
Gross Expense Ratio	2.05 %
*Net Expense Ratio	2.03 %
Ticker	KCEIX
Fund	Knights of Columbus U.S. All Cap Index Fund - I Class
Benchmark	The Knights of Columbus U.S. All Cap Index The Knights of Columbus U.S. All Cap Index The Knights of Columbus® U.S. All Cap Index consists of all common stocks and real estate investment trusts in the Solactive US Broad Market Index excluding companies that are determined by Institutional Shareholder Services to be involved with enterprises that conflict with the USCCB Guidelines. The Market Index includes the 3,000 U.S. companies with the largest free-float market capitalizations.
Gross Expense Ratio	0.60 %
*Net Expense Ratio	0.25 %
Ticker	KCXIX
Fund	Knights of Columbus Real Estate Fund - I Class
Benchmark	Bloomberg US 3000 REIT Total Return Index Bloomberg US 3000 REIT Total Return Index Bloomberg US 3000 REIT Total Return Index USD is a float market-cap-weighted equity benchmark derived from membership of the Bloomberg US 3000 Index. Companies classified as per BICS with a level 3 sub-industry of REIT are eligible to be part of the Bloomberg REIT Indices. The US REIT Indices are maintained as per the Bloomberg US Domestic Corporate Actions methodology. IPOs classified as REIT are eligible for fast track additions to the US REIT Indices that include US large caps.
Gross Expense Ratio	1.05 %
*Net Expense Ratio	1.00 %
Ticker	KCRIX

^*The net expense ratio presented represents the Fund’s Total Annual Fund Operating Expenses After Fee Reductions and/or Expense Reimbursements. Knights of Columbus Asset Advisors LLC has contractually agreed to waive fees and reimburse expenses to the extent necessary to keep Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses (collectively, “excluded expenses”)) from exceeding the percentage of the Fund’s Institutional Shares’ average daily net assets presented in the table until February 28, 2025 (the “contractual expense limit”).In addition, if at any point Total Annual Fund Operating Expenses (not including excluded expenses) are below the contractual expense limit, the Knights of Columbus Asset Advisors LLC may receive from a Fund the difference between the Total Annual Fund Operating Expenses (not including excluded expenses) and the contractual expense limit to recover all or a portion of its prior fee waivers or expense reimbursements made during the preceding three year period during which this agreement was in place. This agreement may be terminated: by the Board of Trustees (the “Board”) of The Advisors’ Inner Circle Fund III (the “Trust”), for any reason at any time; or (ii) by Knights of Columbus Asset Advisors LLC, upon ninety (90) days’ prior written notice to the Trust, effective as of the close of business on February 28, 2025.

TOP 10 HOLDINGS

View the top 10 holdings for each of our funds as of the most recent month end here.

Top 10 Holdings Report