The investment seeks current income and long-term capital appreciation.  The fund invests at least 80% of its net assets, plus borrowings for investment purposes, in high-dividend paying securities of companies across all capitalizations that are organized in, maintain at least 50% of their assets in, or derive at least 50% of their revenues from, emerging market countries. As a point of comparison, a high dividend paying common stock that the fund would invest in would generally have a dividend yield greater than the average dividend yield of the equity securities in the MSCI Emerging Markets Index.

Nasdaq

CEMFX

The investment seeks long-term capital appreciation and current income. The fund invests at least 80% of its net assets, plus borrowings for investment purposes, in dividend paying common stocks of medium-capitalization companies and large-capitalization companies. As a point of comparison, a high dividend common stock that the fund would invest in would generally have a dividend yield greater than the average dividend yield of the equity securities in the S&P 500 Index. It may invest up to 30% of its assets in foreign securities.

CHDEX

The fund invests at least 80% of its net assets, plus borrowings for investment purposes, in high dividend paying common stocks of medium- capitalization companies and large-capitalization companies headquartered outside the United States in common stocks traded on exchanges not located in the United States and in American Depositary Receipts ("ADRs"). As a point of comparison, a high dividend paying common stock that the fund would invest in would generally have a dividend yield greater than the average dividend yield of the equity securities in the MSCI EAFE Stock Index.

CIHIX

The fund invests at least 80% of its net assets, plus borrowings for investment purposes, in small-capitalization companies. It may invest up to 30% of its assets in securities of companies headquartered outside the United States. The advisor intends to invest in the securities of companies located in developed countries and, to a lesser extent, those located in emerging markets, and the advisor may consider investments in companies in any of the world's developed or emerging stock markets.

CUSIX

The investment seeks long-term capital appreciation and current income. The fund invests at least 80% of its net assets, plus borrowings for investment purposes, in common stocks of companies across all market capitalizations. It may invest up to 30% of its assets in foreign securities, including up to 10% of its assets in securities of emerging market issuers. The fund generally invests substantially all of its assets in common stocks and ADRs but may invest in other equity securities.

CVLVX

The fund invests at least 80% of its net assets, plus borrowings for investment purposes, in dividend paying common stocks of medium-capitalization companies (which are companies with a typical capitalization range of between $5 billion and $12 billion at the time of investment) and large-capitalization companies (which are companies with a typical capitalization range greater than $12 billion at the time of investment). It may invest up to 30% of its assets in foreign securities.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield
CEMFX	Cullen Emerging Markets High Dividend Fund	Emerging Markets Diversified	Aug 30, 2012	1.00%	9.86%	5.30%	3.86%
CHDEX	Cullen High Dividend Equity Fund	Large Cap Value Equities	Aug 1, 2003	1.00%	4.12%	7.09%	11.79%
CIHIX	Cullen International High Dividend Fund	Foreign Large Cap Equities	Dec 14, 2005	1.00%	5.75%	3.26%	3.86%
CUSIX	Cullen Small Cap Value Fund	Small Cap Value Equities	Oct 1, 2009	1.00%	-0.26%	5.14%	1.96%
CVLVX	Cullen Value Fund	Large Cap Value Equities	Aug 31, 2012	0.75%	5.45%	7.88%	8.92%
ENHNX	Cullen Enhanced Equity Income Fund	Derivative Income	Dec 14, 2015	0.75%	3.18%	—	6.23%

Cullen Funds Trust Mutual Funds List

Risk vs. Return Scatterplot