Morningstar Rating

As of 12/31/22 (Foreign Large Blend Category)

Overall

3 Year

5 Year

N/A

10 Year

N/A

As of 12/31/22, there were 744 Funds in the Large Foreign Blend Category for the Overall, 704 Funds for the 3 year period. Overall Morningstar Ratings are derived from a weighted average of the fund’s three- and ten-year (if applicable) risk adjusted returns measure.

LKCM International Equity Fund Performance

As of December 31, 2022

	YTD	1YR	3YR	5YR	10YR	Since Inception
LKCM International Equity Fund	-20.51%	-20.51%	2.39%	N/A	N/A	4.37%
Lipper International Large Cap Core Index	-13.45%	-13.45%	0.65%	N/A	N/A	2.44%
Morningstar Allocation — Foreign Large Blend		-15.84%	0.55%	N/A	N/A	N/A
Morningstar Percentile Rank		91%	14%	N/A	N/A	N/A
Number of Funds in Category		744	704	N/A	N/A	N/A

Investment Objective

The Fund seeks to maximize long-term capital appreciation.

Fact Sheet

Inception Date: 5/1/2019

Net Expense Ratio: 1.00% net* 1.40% Gross

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Fund performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained by calling 1-800-688-LKCM. The fund imposes a 1.00% redemption fee on shares held less than 30 days, and if reflected, the fee would reduce the performance shown.

Portfolio Managers

Mason D. King, CFA

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J. Luther King, Jr., CFA, CIC

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Brittny G. Allred, CFA

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The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The Funds’ summary and statutory prospectuses contain this and other important information about the Funds. Please read the summary and statutory prospectuses carefully before investing. To obtain a hardcopy, please call 1-800-688-LKCM. Read carefully before investing.

Mutual fund investing involves risk; Principal loss is possible. International funds typically carry additional risks, since smaller companies generally have a higher risk of failure, and, historically, their stocks have experienced a greater degree of market volatility than stocks on average.

*Luther King Capital Management has contractually agreed to waive all or a portion of its management fee and/or reimburse the Fund through May 1, 2023. Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced.

The Lipper International Large-Cap Core Funds Index is an unmanaged index that is generally considered representative of international large-cap core mutual funds tracked by Lipper, Inc. You cannot invest directly in an index.

For more information or a prospectus, see Fund Literature or call 1-800-588-LKCM.

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LKCM Funds distributed by Quasar Distributors, LLC