https://www.sec.gov/Archives/edgar/data/1322252/000119312519180112/d765406d497.htm497 1 d765406d497.htm CRM ALL CAP VALUE FUND
CRM MUTUAL FUND TRUST
CRM Large Cap Opportunity Fund
CRM All Cap Value Fund
Supplement Dated June 24, 2019
to the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information
Dated October 26, 2018
This document should be read together with the Summary Prospectus, Prospectus or Statement of Additional Information (“SAI”), as applicable.
The Summary Prospectus, Prospectus and SAI are supplemented with the following information, which supersedes any contrary information:
COMPLETION OF REORGANIZATION OF CRM LARGE CAP OPPORTUNITY FUND
On June 20, 2019, shareholders of CRM Large Cap Opportunity Fund approved the reorganization of CRM Large Cap Opportunity Fund with and into CRM All Cap Value Fund. The reorganization was completed as of the close of business on June 21, 2019 and CRM Large Cap Opportunity Fund was dissolved. Accordingly, all references to CRM Large Cap Opportunity Fund are removed in their entirety from the Prospectus and SAI.
CHANGES TO INVESTMENT ADVISORY FEE AND EXPENSE CAPS FOR CRM ALL CAP VALUE FUND
Effective as of the close of business on June 21, 2019, CRM All Cap Value Fund’s investment advisory fee is reduced to 0.70% of the Fund’s average daily net assets. In addition, effective as of the close of business on June 21, 2019, the Fund’s contractual expense caps are reduced to 1.45% of the average daily net assets of Investor Shares of the Fund and 1.20% of the average daily net assets of Institutional Shares of the Fund.
The Annual Fund Operating Expenses table in the section titled “Fund Summaries - CRM All Cap Value Fund – Fees and Expenses” is replaced with the following table:...
