# EDGAR Filing Document

**Accession Number:** 0000890540
**File Stem:** 0001398344-23-000175
**Filing Date:** 2023-1
**Character Count:** 25372
**Document Hash:** f1df16f4f3e06f7ea1e0c8615a3343c1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-23-000175.hdr.sgml**: 20230104

**ACCESSION NUMBER**: 0001398344-23-000175

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20230104

**DATE AS OF CHANGE**: 20230104

**EFFECTIVENESS DATE**: 20230104

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVISORS' INNER CIRCLE FUND
- **CENTRAL INDEX KEY:** 0000878719
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-42484
- **FILM NUMBER:** 23508066

**BUSINESS ADDRESS:**
- **STREET 1:** 1 FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19087
- **BUSINESS PHONE:** 8009327781

**MAIL ADDRESS:**
- **STREET 1:** 1 FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19087

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ADVISORS INNER CIRCLE FUND
- **DATE OF NAME CHANGE:** 19920929
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund II
- **CENTRAL INDEX KEY:** 0000890540
- **IRS NUMBER:** 233040006
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-50718
- **FILM NUMBER:** 23508067

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** 6106761000

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Advisors Inner Circle Fund II
- **DATE OF NAME CHANGE:** 20041029

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARBOR FUND
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### RICE HALL JAMES MICRO CAP PORTFOLIO (Series ID: S000005702)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INSTITUTIONAL CLASS SHARES | RHJSX         | C000015666 |

---

### RICE HALL JAMES SMALL CAP PORTFOLIO (Series ID: S000005703)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INSTITUTIONAL CLASS SHARES | RHJMX         | C000015667 |

---

### ACADIAN EMERGING MARKETS PORTFOLIO (Series ID: S000005712)

---

|  |  |  |
|:---|:---|:---|
| Class Name            | Ticker Symbol | Class ID   |
| INVESTOR CLASS SHARES | AEMGX         | C000015706 |
| Y Class Shares        | AEMVX         | C000174812 |
| I Class Shares        | AEMZX         | C000174813 |

---

### CAMBIAR OPPORTUNITY FUND (Series ID: S000005783)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INSTITUTIONAL CLASS SHARES | CAMWX         | C000015896 |
| INVESTOR CLASS SHARES      | CAMOX         | C000015897 |

---

### CAMBIAR INTERNATIONAL EQUITY FUND (Series ID: S000005784)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INVESTOR CLASS SHARES      | CAMIX         | C000015898 |
| INSTITUTIONAL CLASS SHARES | CAMYX         | C000070601 |

---

### CAMBIAR SMALL CAP FUND (Series ID: S000005785)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INVESTOR CLASS SHARES      | CAMSX         | C000015899 |
| INSTITUTIONAL CLASS SHARES | CAMZX         | C000070602 |

---

### LSV VALUE EQUITY FUND (Series ID: S000006448)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | LSVEX         | C000017646 |
| Investor Class Shares      | LVAEX         | C000142889 |

---

### MCKEE INTERNATIONAL EQUITY PORTFOLIO (Series ID: S000006449)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INSTITUTIONAL CLASS SHARES | MKIEX         | C000017647 |

---

### HAVERFORD QUALITY GROWTH STOCK FUND (Series ID: S000011835)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Haverford Quality Growth Stock Fund | HAVGX         | C000032337 |

---

### EDGEWOOD GROWTH FUND (Series ID: S000011838)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INSTITUTIONAL CLASS SHARES | EGFIX         | C000032340 |
| RETAIL CLASS SHARES        | EGFFX         | C000032341 |
| Service Shares             | EGFSX         | C000180120 |

---

### LSV CONSERVATIVE VALUE EQUITY FUND (Series ID: S000016708)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | LSVVX         | C000046678 |
| Investor Class Shares      | LVAVX         | C000142890 |

---

### Cambiar Aggressive Value Fund (Series ID: S000018774)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INVESTOR CLASS SHARES      | CAMAX         | C000051940 |
| INSTITUTIONAL CLASS SHARES | nan           | C000070603 |

---

### LSV Global Value Fund (Series ID: S000023533)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | LSVGX         | C000069244 |
| Investor Class Shares      | LVAGX         | C000142760 |

---

### SANDS CAPITAL GLOBAL GROWTH FUND (Series ID: S000028356)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INSTITUTIONAL CLASS SHARES | SCMGX         | C000086650 |
| INVESTOR CLASS SHARES      | SCGVX         | C000086651 |

---

### LOOMIS SAYLES FULL DISCRETION INSTITUTIONAL SECURITIZED FUND (Series ID: S000032046)

---

|  |  |
|:---|:---|
| Class Name                 | Class ID   |
| INSTITUTIONAL CLASS SHARES | C000099791 |

---

### CAMBIAR SMID FUND (Series ID: S000032898)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INVESTOR CLASS SHARES      | CAMMX         | C000101540 |
| INSTITUTIONAL CLASS SHARES | CAMUX         | C000148331 |

---

### Hamlin High Dividend Equity Fund (Series ID: S000036634)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | HHDFX         | C000111998 |
| Investor Class Shares      | HHDVX         | C000111999 |

---

### LSV Small Cap Value Fund (Series ID: S000039922)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | LSVQX         | C000123807 |
| Investor Class Shares      | LVAQX         | C000142891 |

---

### Sarofim Equity Fund (Series ID: S000041278)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Sarofim Equity Fund | SRFMX         | C000127983 |

---

### CIBC Atlas Disciplined Equity Fund (Series ID: S000041987)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | AWEIX         | C000130396 |
| Investor Class Shares      | AWEVX         | C000130397 |

---

### CIBC Atlas Mid Cap Equity Fund (Series ID: S000042153)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | AWMIX         | C000130893 |
| Investor Class      | AWMVX         | C000130894 |

---

### CIBC Atlas Income Opportunities Fund (Series ID: S000042154)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | AWIIX         | C000130895 |
| Investor Class      | AWIVX         | C000130896 |

---

### LSV U.S. MANAGED VOLATILITY FUND (Series ID: S000045798)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | LSVMX         | C000142756 |
| Investor Class Shares      | LVAMX         | C000142757 |

---

### LSV GLOBAL MANAGED VOLATILITY FUND (Series ID: S000045799)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | LSVFX         | C000142758 |
| Investor Class Shares      | LVAFX         | C000142759 |

---

### CAMBIAR INTERNATIONAL SMALL CAP FUND (Series ID: S000047296)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INSTITUTIONAL CLASS SHARES | CAMFX         | C000148333 |

---

### CIBC ATLAS EQUITY INCOME FUND (Series ID: S000059859)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | AWYIX         | C000195839 |
| Investor Class Shares      | AWYVX         | C000195840 |

---

### CIBC ATLAS ALL CAP GROWTH FUND (Series ID: S000059860)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | AWGIX         | C000195841 |
| Investor Class Shares      | AWGVX         | C000195842 |

---

### LSV Emerging Markets Equity Fund (Series ID: S000062890)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | LSVZX         | C000203678 |
| Investor Class Shares      | LVAZX         | C000203679 |

---

### CIBC ATLAS INTERNATIONAL GROWTH FUND (Series ID: S000065635)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | AWWIX         | C000212351 |
| Investor Class Shares      | AWWVX         | C000212352 |

---

### Cambiar Aggressive Value ETF (Series ID: S000077620)

---

|  |  |  |
|:---|:---|:---|
| Class Name                   | Ticker Symbol | Class ID   |
| Cambiar Aggressive Value ETF | CAMX          | C000238108 |

---

### CHAMPLAIN SMALL COMPANY FUND (Series ID: S000005803)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| ADVISOR SHARES             | CIPSX         | C000015937 |
| Institutional Class Shares | CIPNX         | C000173316 |

---

### REAVES INFRASTRUCTURE FUND (Series ID: S000006467)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| INSTITUTIONAL CLASS SHARES | RSRFX         | C000017675 |

---

### CHAMPLAIN MID CAP FUND (Series ID: S000022606)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| ADVISOR SHARES       | CIPMX         | C000065363 |
| INSTITUTIONAL SHARES | CIPIX         | C000096284 |

---

### WESTFIELD CAPITAL DIVIDEND GROWTH FUND (Series ID: S000041661)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | WDIVX         | C000129343 |
| Investor Class Shares      | WCDGX         | C000129344 |

---

### KOPERNIK GLOBAL ALL-CAP FUND (Series ID: S000042718)

---

|  |  |  |
|:---|:---|:---|
| Class Name     | Ticker Symbol | Class ID   |
| CLASS A SHARES | KGGAX         | C000132088 |
| CLASS I SHARES | KGGIX         | C000132089 |

---

### Cardinal Small Cap Value Fund (Series ID: S000044747)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | CCMSX         | C000139045 |

---

### KOPERNIK INTERNATIONAL FUND (Series ID: S000049911)

---

|  |  |  |
|:---|:---|:---|
| Class Name            | Ticker Symbol | Class ID   |
| INVESTOR CLASS SHARES | KGIRX         | C000157592 |
| CLASS I SHARES        | KGIIX         | C000157593 |

---

### CHAMPLAIN EMERGING MARKETS FUND (Series ID: S000051071)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Advisor Shares       | CIPDX         | C000160896 |
| Institutional Shares | CIPQX         | C000160897 |

---

### RQSI GAA SYSTEMATIC GLOBAL MACRO FUND (Series ID: S000060897)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| INSTITUTIONAL SHARES | RQSGX         | C000197724 |
| Retail Shares        | RQSRX         | C000198418 |

---

### Sprucegrove International Equity Fund (Series ID: S000071199)

---

|  |  |  |
|:---|:---|:---|
| Class Name                 | Ticker Symbol | Class ID   |
| Institutional Class Shares | SPRNX         | C000225987 |
| Advisor Class Shares       | SPRDX         | C000234396 |
| Investor Class Shares      | SPRVX         | C000234397 |

---

### PMV Adaptive Risk Parity ETF (Series ID: S000079261)

---

|  |  |  |
|:---|:---|:---|
| Class Name                   | Ticker Symbol | Class ID   |
| PMV Adaptive Risk Parity ETF | ARP           | C000240238 |

---

## Series and Classes Contracts Data

### RICE HALL JAMES MICRO CAP PORTFOLIO (Series ID: S000005702)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000015666 | INSTITUTIONAL CLASS SHARES | RHJSX           |

### RICE HALL JAMES SMALL CAP PORTFOLIO (Series ID: S000005703)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000015667 | INSTITUTIONAL CLASS SHARES | RHJMX           |

### ACADIAN EMERGING MARKETS PORTFOLIO (Series ID: S000005712)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000015706 | INVESTOR CLASS SHARES | AEMGX           |
| C000174812 | Y Class Shares        | AEMVX           |
| C000174813 | I Class Shares        | AEMZX           |

### CAMBIAR OPPORTUNITY FUND (Series ID: S000005783)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000015896 | INSTITUTIONAL CLASS SHARES | CAMWX           |
| C000015897 | INVESTOR CLASS SHARES      | CAMOX           |

### CAMBIAR INTERNATIONAL EQUITY FUND (Series ID: S000005784)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000015898 | INVESTOR CLASS SHARES      | CAMIX           |
| C000070601 | INSTITUTIONAL CLASS SHARES | CAMYX           |

### CAMBIAR SMALL CAP FUND (Series ID: S000005785)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000015899 | INVESTOR CLASS SHARES      | CAMSX           |
| C000070602 | INSTITUTIONAL CLASS SHARES | CAMZX           |

### LSV VALUE EQUITY FUND (Series ID: S000006448)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000017646 | Institutional Class Shares | LSVEX           |
| C000142889 | Investor Class Shares      | LVAEX           |

### MCKEE INTERNATIONAL EQUITY PORTFOLIO (Series ID: S000006449)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000017647 | INSTITUTIONAL CLASS SHARES | MKIEX           |

### HAVERFORD QUALITY GROWTH STOCK FUND (Series ID: S000011835)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000032337 | Haverford Quality Growth Stock Fund | HAVGX           |

### EDGEWOOD GROWTH FUND (Series ID: S000011838)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000032340 | INSTITUTIONAL CLASS SHARES | EGFIX           |
| C000032341 | RETAIL CLASS SHARES        | EGFFX           |
| C000180120 | Service Shares             | EGFSX           |

### LSV CONSERVATIVE VALUE EQUITY FUND (Series ID: S000016708)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000046678 | Institutional Class Shares | LSVVX           |
| C000142890 | Investor Class Shares      | LVAVX           |

### Cambiar Aggressive Value Fund (Series ID: S000018774)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000051940 | INVESTOR CLASS SHARES      | CAMAX           |
| C000070603 | INSTITUTIONAL CLASS SHARES |  |

### LSV Global Value Fund (Series ID: S000023533)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000069244 | Institutional Class Shares | LSVGX           |
| C000142760 | Investor Class Shares      | LVAGX           |

### SANDS CAPITAL GLOBAL GROWTH FUND (Series ID: S000028356)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000086650 | INSTITUTIONAL CLASS SHARES | SCMGX           |
| C000086651 | INVESTOR CLASS SHARES      | SCGVX           |

### LOOMIS SAYLES FULL DISCRETION INSTITUTIONAL SECURITIZED FUND (Series ID: S000032046)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000099791 | INSTITUTIONAL CLASS SHARES |  |

### CAMBIAR SMID FUND (Series ID: S000032898)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000101540 | INVESTOR CLASS SHARES      | CAMMX           |
| C000148331 | INSTITUTIONAL CLASS SHARES | CAMUX           |

### Hamlin High Dividend Equity Fund (Series ID: S000036634)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000111998 | Institutional Class Shares | HHDFX           |
| C000111999 | Investor Class Shares      | HHDVX           |

### LSV Small Cap Value Fund (Series ID: S000039922)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000123807 | Institutional Class Shares | LSVQX           |
| C000142891 | Investor Class Shares      | LVAQX           |

### Sarofim Equity Fund (Series ID: S000041278)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000127983 | Sarofim Equity Fund | SRFMX           |

### CIBC Atlas Disciplined Equity Fund (Series ID: S000041987)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000130396 | Institutional Class Shares | AWEIX           |
| C000130397 | Investor Class Shares      | AWEVX           |

### CIBC Atlas Mid Cap Equity Fund (Series ID: S000042153)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000130893 | Institutional Class | AWMIX           |
| C000130894 | Investor Class      | AWMVX           |

### CIBC Atlas Income Opportunities Fund (Series ID: S000042154)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000130895 | Institutional Class | AWIIX           |
| C000130896 | Investor Class      | AWIVX           |

### LSV U.S. MANAGED VOLATILITY FUND (Series ID: S000045798)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000142756 | Institutional Class Shares | LSVMX           |
| C000142757 | Investor Class Shares      | LVAMX           |

### LSV GLOBAL MANAGED VOLATILITY FUND (Series ID: S000045799)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000142758 | Institutional Class Shares | LSVFX           |
| C000142759 | Investor Class Shares      | LVAFX           |

### CAMBIAR INTERNATIONAL SMALL CAP FUND (Series ID: S000047296)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000148333 | INSTITUTIONAL CLASS SHARES | CAMFX           |

### CIBC ATLAS EQUITY INCOME FUND (Series ID: S000059859)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000195839 | Institutional Class Shares | AWYIX           |
| C000195840 | Investor Class Shares      | AWYVX           |

### CIBC ATLAS ALL CAP GROWTH FUND (Series ID: S000059860)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000195841 | Institutional Class Shares | AWGIX           |
| C000195842 | Investor Class Shares      | AWGVX           |

### LSV Emerging Markets Equity Fund (Series ID: S000062890)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000203678 | Institutional Class Shares | LSVZX           |
| C000203679 | Investor Class Shares      | LVAZX           |

### CIBC ATLAS INTERNATIONAL GROWTH FUND (Series ID: S000065635)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000212351 | Institutional Class Shares | AWWIX           |
| C000212352 | Investor Class Shares      | AWWVX           |

### Cambiar Aggressive Value ETF (Series ID: S000077620)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000238108 | Cambiar Aggressive Value ETF | CAMX            |

### CHAMPLAIN SMALL COMPANY FUND (Series ID: S000005803)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000015937 | ADVISOR SHARES             | CIPSX           |
| C000173316 | Institutional Class Shares | CIPNX           |

### REAVES INFRASTRUCTURE FUND (Series ID: S000006467)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000017675 | INSTITUTIONAL CLASS SHARES | RSRFX           |

### CHAMPLAIN MID CAP FUND (Series ID: S000022606)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000065363 | ADVISOR SHARES       | CIPMX           |
| C000096284 | INSTITUTIONAL SHARES | CIPIX           |

### WESTFIELD CAPITAL DIVIDEND GROWTH FUND (Series ID: S000041661)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000129343 | Institutional Class Shares | WDIVX           |
| C000129344 | Investor Class Shares      | WCDGX           |

### KOPERNIK GLOBAL ALL-CAP FUND (Series ID: S000042718)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000132088 | CLASS A SHARES | KGGAX           |
| C000132089 | CLASS I SHARES | KGGIX           |

### Cardinal Small Cap Value Fund (Series ID: S000044747)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000139045 | Institutional Class Shares | CCMSX           |

### KOPERNIK INTERNATIONAL FUND (Series ID: S000049911)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000157592 | INVESTOR CLASS SHARES | KGIRX           |
| C000157593 | CLASS I SHARES        | KGIIX           |

### CHAMPLAIN EMERGING MARKETS FUND (Series ID: S000051071)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000160896 | Advisor Shares       | CIPDX           |
| C000160897 | Institutional Shares | CIPQX           |

### RQSI GAA SYSTEMATIC GLOBAL MACRO FUND (Series ID: S000060897)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000197724 | INSTITUTIONAL SHARES | RQSGX           |
| C000198418 | Retail Shares        | RQSRX           |

### Sprucegrove International Equity Fund (Series ID: S000071199)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000225987 | Institutional Class Shares | SPRNX           |
| C000234396 | Advisor Class Shares       | SPRDX           |
| C000234397 | Investor Class Shares      | SPRVX           |

### PMV Adaptive Risk Parity ETF (Series ID: S000079261)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000240238 | PMV Adaptive Risk Parity ETF | ARP             |

**THE ADVISORS' INNER CIRCLE FUND**

**THE ADVISORS' INNER CIRCLE FUND II**

**(the "Trusts")**

**Supplement dated January 4, 2023**

**to the Statements of Additional Information (the "SAIs") of each Trust**

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

In accordance with the Trusts' retirement policy, Mitchell A. Johnson has resigned from the Board of Trustees of the Trusts (the "Board"), having dutifully served on the Board since 2005.

In connection with Mr. Johnson's resignation from the Board, each SAI is hereby amended and supplemented as follows:

*I. In the "Trustees and Officers of the Trust" section, under the heading "Members of the Board," the first paragraph is hereby deleted and replaced with the following:*

**Members of the Board.** There are eight members of the Board, six of whom are not interested persons of the Trust, as that term is defined in the 1940 Act ("independent Trustees"). Robert Nesher, an interested person of the Trust, serves as Chairman of the Board. Joseph T. Grause, Jr., an independent Trustee, serves as the lead independent Trustee. The Trust has determined its leadership structure is appropriate given the specific characteristics and circumstances of the Trust. The Trust made this determination in consideration of, among other things, the fact that the independent Trustees constitute a super majority (75%) of the Board, the fact that the chairperson of each Committee of the Board is an independent Trustee, the amount of assets under management in the Trust, and the number of funds (and classes of shares) overseen by the Board. The Board also believes that its leadership structure facilitates the orderly and efficient flow of information to the independent Trustees from fund management.

*II. In the "Trustees and Officers of the Trust" section, under the heading "Board Compensation," the information with respect to Mr. Johnson should be retained and the following footnote is hereby added with respect to Mr. Johnson:*

\* In accordance with the Trust's retirement policy, Mr. Johnson retired from the Board effective December 31, 2022, after having dutifully served on the Board since 2005.

*III. All other references to Mr. Johnson are hereby deleted.*

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE**