# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001398344-25-018760
**Filing Date:** 2025-10
**Character Count:** 1988
**Document Hash:** b9a8fe3d41ee1f9b89893f66f55e6b16
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-018760.hdr.sgml**: 20251001

**ACCESSION NUMBER**: 0001398344-25-018760

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20251001

**DATE AS OF CHANGE**: 20251001

**EFFECTIVENESS DATE**: 20251001

**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:** 251365427

**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 |

---

## Series and Classes Contracts Data

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

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

**THE ADVISORS' INNER CIRCLE FUND III**

**Penn Mutual AM Strategic Income Fund**

**(the "Fund")**

**Supplement dated October 1, 2025 to the Fund's Prospectus and Statement of Additional Information, each dated May 1, 2025, as supplemented**

**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.**

Mark Heppenstall no longer serves as a portfolio manager for the Fund. Accordingly, all references to Mr. Heppenstall contained in the Prospectus and SAI are hereby deleted.

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE**

PNN-SK-009-0100