Advisors Series Trust
04/24/2026 | Press release | Distributed by Public on 04/24/2026 14:55
Summary Prospectus by Investment Company (Form 497K)
Filed Pursuant to Rule 497(k)
Registration No. 333-17391; 811-07959
Important Notice Regarding Change in Investment Policy
PZENA INTERNATIONAL VALUE FUND
Investor Class PZVNX
Institutional Class PZINX
(the "Fund")
A series of Advisors Series Trust (the "Trust")
Supplement dated April 24, 2026 to the
Summary Prospectus dated June 28, 2025
Effective, June 28, 2026, the Pzena International Value Fund's principal investment strategy will be revised to reflect a change in the Fund's 80% investment policy pursuant to Rule 35d-1 under the Investment Company Act of 1940.
Accordingly, effective on June 28, 2026, the following disclosures will be revised:
The first sentence in the first paragraph under the section titled "Principal Investment Strategies" on page 2 of the Fund's Summary Prospectus will be deleted and restated as follows:
Under normal market conditions the International Value Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in "value" stocks of Developed Market companies, not including U.S. companies.
Please retain this Supplement with your Summary Prospectus for future reference.
Advisors Series Trust published this content on April 24, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 24, 2026 at 20:55 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]