# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001398344-25-011820
**Filing Date:** 2025-6
**Character Count:** 2975
**Document Hash:** fe3e691959f2ab836a22567760779ba5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-011820.hdr.sgml**: 20250613

**ACCESSION NUMBER**: 0001398344-25-011820

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20250613

**DATE AS OF CHANGE**: 20250613

**EFFECTIVENESS DATE**: 20250613

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund III
- **CENTRAL INDEX KEY:** 0001593547

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-192858
- **FILM NUMBER:** 251046142

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** (800) 342-5734

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

## Series and Classes Contracts Data

### PENN MUTUAL AM STRATEGIC INCOME FUND (Series ID: S000061933)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| I Shares   | PMUBX         | C000200669 |

---

### PENN MUTUAL AM 1847 INCOME FUND (Series ID: S000069101)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| I Shares   | PMEFX         | C000220871 |

---

## Series and Classes Contracts Data

### PENN MUTUAL AM STRATEGIC INCOME FUND (Series ID: S000061933)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000200669 | I Shares     | PMUBX           |

### PENN MUTUAL AM 1847 INCOME FUND (Series ID: S000069101)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000220871 | I Shares     | PMEFX           |

**THE ADVISORS' INNER CIRCLE FUND III**

**Penn Mutual AM Strategic Income Fund** 

**Penn Mutual AM 1847 Income Fund**

**(the "Funds")**

**Supplement dated June 13, 2025 to the Funds' Prospectus and Statement of Additional Information, each dated May 1, 2025**

**This supplement provides new and additional information beyond that contained in the Prospectus and SAI, and should be read in conjunction with the Prospectus and SAI.**

Greg Zappin no longer serves as a portfolio manager for the Penn Mutual AM Strategic Income Fund or the Penn Mutual AM 1847 Income Fund, and George Cipolloni III no longer serves as a portfolio manager for the Penn Mutual AM 1847 Income Fund. Accordingly, all references to Mr. Zappin and Mr. Cipolloni contained in the Prospectus and SAI are hereby deleted.

In addition, the first sentence of the "Portfolio Managers" section of the Prospectus is hereby deleted and replaced with the following: "Information regarding the portfolio managers that are primarily responsible or jointly and primarily responsible for the day-to-day management of the Funds is set forth below. The Funds' portfolio managers are supported by a team of investment professionals at the Adviser."

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE**

PNN-SK-007-0100