Advisors Inner Circle Fund III
03/19/2026 | Press release | Distributed by Public on 03/19/2026 12:41
Summary Prospectus by Investment Company (Form 497K)
The Advisors' Inner Circle Fund III
Redwheel Global Emerging Equity Fund
(the "Fund")
Supplement Dated March 19, 2026 to the Fund's
Summary Prospectus and Prospectus,
each dated January 28, 2026
This supplement provides new and additional information beyond that contained in the Summary Prospectus and Prospectus, and should be read in conjunction with the Summary Prospectus and Prospectus.
| I. | Effective immediately, the advisory fee for the Fund is reduced as follows: |
| Current Advisory Fee | New Advisory Fee |
| 0.90% | 0.75% |
Accordingly, effective immediately, the Summary Prospectus and Prospectus are hereby amended and supplemented as follows:
1. In the "Fund Fees and Expenses" section of the Summary Prospectus and the Prospectus, the "Annual Fund Operating Expenses" table and the "Example" are hereby deleted and replaced with the following:
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
| Class N Shares | Class I Shares | Institutional Class Shares | ||||
| Management Fees1 | 0.75% | 0.75% | 0.75% | |||
| Distribution and Service (12b-1) Fees | 0.25% | None | None | |||
| Other Expenses | 0.49% | 0.49% | 0.34% | |||
| Shareholder Servicing Fee | 0.15% | 0.15% | None | |||
| Previously Waived Fees and/or Reimbursed Expenses Recovered2 | 0.03% | 0.03% | 0.03% | |||
| Other Operating Expenses | 0.31% | 0.31% | 0.31% | |||
| Total Annual Fund Operating Expenses | 1.49% | 1.24% | 1.09% | |||
| 1 | Management fees have been restated to reflect current fees. |
| 2 | Until January 29, 2024, RWC Asset Advisors (US) LLC ("RWC US"), the investment adviser to the Fund, had contractually agreed to waive its fees and/or reimburse expenses to the extent necessary to keep total annual Fund operating expenses (excluding certain excluded expenses) from exceeding 1.25% of the average daily net assets of each of the Fund's share classes. This agreement was terminated by RWC US effective as of January 29, 2024. Pursuant to the terms of the agreement, RWC US has the ability to recoup all or a portion of its prior fee waivers or expense reimbursements made during the three-year period preceding the recoupment subject to certain terms and conditions. The amounts above reflect previously waived fees and/or reimbursed expensed recovered by RWC US from the Fund during the fiscal year ended September 30, 2025. |
Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
| 1 Year | 3 Years | 5 Years | 10 Years | |
| Class N Shares | $152 | $471 | $806 | $1,754 |
| Class I Shares | $126 | $393 | $674 | $1,474 |
| Institutional Class Shares | $111 | $347 | $594 | $1,303 |
2. In the "Investment Advisers" section of the Prospectus, the third paragraph under the "Global Emerging Equity Fund" heading is hereby deleted and replaced with the following:
For its services to the Global Emerging Equity Fund, RWC US is entitled to a fee, which is calculated daily and paid monthly, at an annual rate of 0.75% of the average daily net assets of the Fund.
| II. | The minimum initial investment amount for Institutional Shares of the Fund has been reduced from $10,000,000 to $1,000,000. Accordingly, effective immediately, the Summary Prospectus and Prospectus are hereby amended and supplemented as followed: |
1. In the "Purchase, Sale and Exchange of Fund Shares" section of the Summary Prospectus and the Prospectus, the first sentence of the second paragraph is hereby deleted and replaced with the following:
To purchase shares of the Global Emerging Equity Fund for the first time, you must invest at least $2,500 for Class N Shares, $250,000 for Class I Shares, or $1,000,000 for Institutional Class Shares.
2. In the "Purchasing, Selling and Exchanging Fund Shares" section of the Prospectus, the row relating to Institutional Class Shares in the table under "How to Choose a Share Class" is hereby deleted and replaced with the following:
| Class Name | Investment Minimums | Fees |
| Institutional Class Shares |
Initial - $1,000,000 Subsequent - None |
No Rule 12b-1 Fee or Shareholder Servicing Fee |
3. In the "How to Purchase Fund Shares" section of the Prospectus, the first sentence of the first paragraph under the "Minimum Purchases" heading is hereby deleted and replaced with the following:
To purchase shares of the Global Emerging Equity Fund for the first time, you must invest at least $2,500 for Class N Shares, $250,000 for Class I Shares, or $1,000,000 for Institutional Class Shares.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
RWC-SK-009-0100
2
Advisors Inner Circle Fund III published this content on March 19, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on March 19, 2026 at 18:41 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]