Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

CrossingBridge lowers initial minimum for institutional share class

RiverPark Strategic Income Fund:
https://www.sec.gov/Archives/edgar/data/1141819/000089418923005490/riverpark497e81023.htm


CrossingBridge Low Duration High Yield Fund;
CrossingBridge Ultra-Short Duration Fund;
CrossingBridge Responsible Credit Fund:
https://www.sec.gov/Archives/edgar/data/1141819/000089418923005489/crossingbridgefunds497e810.htm

Comments

  • That's exceptionally good news.
  • Would be good to learn the reasons for the change. I will be surprised if there is no educational value beyond the numbers.
  • Good news, yes, but I believe institutional funds all have a transfer fee to buy. At least that's the case at Schwab.
  • Lowering from $50k to $5k is indeed very good news for retail investors. CrossBridge funds are on transaction fee fund platform at many brokerages. Fidelity customers can use their automatic investment features for additional purchases for $5; no fee for selling. Other brokerages charge fee on both ends of transaction.
  • Thank [email protected]

    The majority of our clients are institutional investors. But, various folks (including my son) have complained the minimum was exclusionary. Therefore, we felt those who appreciate our approach and offerings (ideally, by doing their own research and due diligence) should have the ability to access the funds to their portfolio in an appropriate allocation.

    What has come out of this? A lot more than just lowering our minimums. A number of the comments on the Board have mentioned that there still are transactions fees. As it pertains to Schwab/Fidelity/TD:
    - Schwab/TD: Only opened up their No-Transaction Fee (NTF) platform to a select list of fund companies. We anticipate Schwab/TD will allow NTF platform for institutional class shares sometime in 2024 for the broader funs community in which we hope to participate.

    - Fidelity: Good News/Bad News: We just moved all of our Funds to NTF on Fidelity’s platform. Good News: All of our funds now trade without any transaction fees at Fidelity. Bad News: This is only for institutional investors/advisors purchasing on behalf of their clients, and is not available for retail investors.

    - Vanguard: Now this is great news. There are now NO TRANSACTION FEES for any investor that purchases through their retail platform.
  • I just put in a dummy trade at Vanguard for additional shares of RPHIX and their system wants to charge $20 transaction fee.

    They also continue to list it as closed to new investors.
  • edited August 2023
    Thank you, @davidsherman.

    I think someone mentioned in this forum about No transactions fees for mutual funds at Firstrade: retail or institutional class. Good to know that the big brokerages are leaning that way too. Definitely helps those that had lowered fees at TD and worry about migration to Schwab.
  • Fidelity still has a $50,000 minimum.
Sign In or Register to comment.