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CrossingBridge Nordic High Income Bond Fund in registration
My Schwab account says $30 but "cannot process order at this time"
Fido says cannot be traded at all
I talked with a Schwab rep and said the problem as I suspected was the 0 for the price. The mutual fund department said they would have a price before market close and we would be able to place a trade. We shall see.
Edit -Still show 0 for nav but was able to place a trade.
My PCA custodial account at Schwab is via a state run plan, so maybe the access is different. But NRDCX is now available in this portal. So it should be there soon for all Schwab customers.
Fido shows that this fund exists now, but not traded there yet.
@FD1000 Was this a test order or the real thing. If so , hard to believe you would throw your dough into an untested fund ! Seems you're rolling the dice. Added : Was a fee part of the purchase ?
I was able to place a trade but didn't do it. I always wait several weeks to see the performance of a new fund. We drove today to Johnson City TN and tried to hike in 2 places but they were closed. I don't understand why because these places were not flooded. Maybe they are muddy.
I was able to place a trade but didn't do it. I always wait several weeks to see the performance of a new fund. We drove today to Johnson City TN and tried to hike in 2 places but they were closed. I don't understand why because these places were not flooded. Maybe they are muddy.
Small world. One of my hiking groups is out of Johnson City. Great town and even greater people.
@FD1000: my daughter, who lives in W-S NC, not a storm-ravaged area, encountered closed hiking areas not far from town, for no apparent reason. Maybe authorities have not had time to inspect their local trails.
Good morning everyone – I’ve read through the discussion board and wanted to provide a couple of updates:
1) Although the prospectus was dated 9/27, first day of trading was 10/1 (that’s why some of you experienced some issues on 9/30) 2) We are fully up & running on Schwab. I was in contact with both Fidelity & Vanguard yesterday and should be available to trade on both platforms by early next week, with the possibility that they are available before the weekend. 3) Limited information is currently available on the website, with a full presentation and fact sheet available mid-November (after first full month of operation). 4) We are planning on having a webinar on the Nordic market in the near future, and will keep the Board updated.
fyi- if you enroll with the fund's direct agent the minimum is $50k. I spoke to a rep yesterday who spoke to a manager and you cannot bypass the minimum via enrolling in the AIP (which is $100 per month). Unsure if Fidelity or Schwab have minimum purchase requirements. Side note, good to see you around still FD1000. I recall your name from the early 2000s on M* discussions. Still miss Copie. GLTA. GranTorino
FWIW, I asked Google, "are bonds in Nordic areas a good investment"
Answer:
It found that in the 20 years through 2022, Nordic companies “have outperformed their global peers on value creation, delivering an average annual total shareholder return of 11.6%, surpassing the global average of 9.4%.”Aug 4, 2024
The initial investment minimum is supposed to be $5K through transfer agent. I had a problem with them when I filed an application for the Low Duration High Yield Fund. They told me I needed $50K until I told them about the SEC filing where the initial minimum was lowered to $5K..
Schwab wants $2,500 initial minimum for a Nordic account plus trade fee.
In Schwab the min is $2500 + $49.95. Most times I don't pay this. Even if I pay for it, it's meaningless compared to the amounts I invest. Most investors do too much analysis. If I know the manager and the uptrend is good and smooth I will buy, and will switch when it is not or I find a better fund. I am far from a weekly trader. I have owned 2 funds for months now. Of course, on the first sign of volatility that looks subnormal I will sell. I'm going into hibernation about what is my next move. I like to own small AUM funds, especially when they are new.
Today we hike at Laurel Falls Trail. Wow, no wonder it ranks 4.7 out of 5. Amazing beautiful trail with a river, hills, a fall, and rocks. Several trees fell and we had to go above/under them. We love to hike in TN which is very similar to North GA
The initial investment minimum is supposed to be$5K through transfer agent. I had a problem with them when I filed an application for the Low Duration High Yield Fund. They told me I needed $50K until I told them about the SEC filing where the initial minimum was lowered to $5K..
Schwab wants $2,500 initial minimum for a Nordic account plus trade fee.
Thanks for the heads up on this and sorry for the confusion/inconvenience. I spoke w/ U.S. Bank today and all is fixed. Correct minimum through the transfer agent, as well as on the platforms, is $5k.
Does this fund anticipate making distributions monthly, quarterly, or annually? (I think all the CrossingBridge funds pay distributions monthly.))
Does this fund accrue dividends daily into investor account or does the NAV decrease by the amount of distribution on ex-dividend date (similar to other CrossingBridge managed funds)?
Sorry for the trouble if the info is already in the prospectus.
I thought I would post the answer rather than bother John:
From the prospectus:
Distributions
The Fund will make distributions of net investment income, if any, at least monthly. The Fund will make distributions of net capital gain, if any, at least annually, typically during the month of December. The Fund may make additional distributions if deemed to be desirable at another time during the year.
"Any distribution paid by the Fund reduces the Fund’s NAV per share on the date paid by the amount of the distribution per share. Accordingly, a distribution paid shortly after a purchase of shares by a shareholder would represent, in substance, a partial return of capital (to the extent it is paid on the shares so purchased), even though it would be subject to federal income taxes."
So, the income doesn't accrue, but flows through the NAV.
My two cents about showing the manager or Trustee’s ownership of the fund. This info is normally in the SAI (currently shows zero $), which does not come out often for investors to know the inside ownership info in real time. Some funds’ managers disclose their ownership and changes also via SEC Form 4. I strongly recommend CrossingBridge do the same.
Mutual fund investors routinely look to Managers’ ownership of the fund to see if their interests are aligned. Morningstar also promotes this criterion and weighs it in their fund rating.
Comments
My Schwab account says $30 but "cannot process order at this time"
Fido says cannot be traded at all
Edit -Still show 0 for nav but was able to place a trade.
Fido shows that this fund exists now, but not traded there yet.
Added : Was a fee part of the purchase ?
Fido still says unavailable to trade
I always wait several weeks to see the performance of a new fund.
We drove today to Johnson City TN and tried to hike in 2 places but they were closed. I don't understand why because these places were not flooded. Maybe they are muddy.
1) Although the prospectus was dated 9/27, first day of trading was 10/1 (that’s why some of you experienced some issues on 9/30)
2) We are fully up & running on Schwab. I was in contact with both Fidelity & Vanguard yesterday and should be available to trade on both platforms by early next week, with the possibility that they are available before the weekend.
3) Limited information is currently available on the website, with a full presentation and fact sheet available mid-November (after first full month of operation).
4) We are planning on having a webinar on the Nordic market in the near future, and will keep the Board updated.
As always, we are here as a resource.
Answer:
Schwab wants $2,500 initial minimum for a Nordic account plus trade fee.
Even if I pay for it, it's meaningless compared to the amounts I invest.
Most investors do too much analysis. If I know the manager and the uptrend is good and smooth I will buy, and will switch when it is not or I find a better fund. I am far from a weekly trader. I have owned 2 funds for months now.
Of course, on the first sign of volatility that looks subnormal I will sell.
I'm going into hibernation about what is my next move. I like to own small AUM funds, especially when they are new.
Today we hike at Laurel Falls Trail. Wow, no wonder it ranks 4.7 out of 5. Amazing beautiful trail with a river, hills, a fall, and rocks.
Several trees fell and we had to go above/under them. We love to hike in TN which is very similar to North GA
Does this fund anticipate making distributions monthly, quarterly, or annually? (I think all the CrossingBridge funds pay distributions monthly.))
Does this fund accrue dividends daily into investor account or does the NAV decrease by the amount of distribution on ex-dividend date (similar to other CrossingBridge managed funds)?
Sorry for the trouble if the info is already in the prospectus.
From the prospectus:
Distributions
The Fund will make distributions of net investment income, if any, at least monthly. The Fund will make distributions of net capital gain, if any, at least annually, typically during the month of December. The Fund may make additional distributions if deemed to be desirable at another time during the year.
"Any distribution paid by the Fund reduces the Fund’s NAV per share on the date paid by the amount of the distribution per share. Accordingly, a distribution paid shortly after a purchase of shares by a shareholder would represent, in substance, a partial return of capital (to the extent it is paid on the shares so purchased), even though it would be subject to federal income taxes."
So, the income doesn't accrue, but flows through the NAV.
Why isn't this info in the Prospectus?
Like the idea that they earn 2% - 4% more than US HY bonds on average, but with only slightly more volatility. Good stuff.
@JConn_CrossingBridge,
My two cents about showing the manager or Trustee’s ownership of the fund. This info is normally in the SAI (currently shows zero $), which does not come out often for investors to know the inside ownership info in real time. Some funds’ managers disclose their ownership and changes also via SEC Form 4. I strongly recommend CrossingBridge do the same.
Mutual fund investors routinely look to Managers’ ownership of the fund to see if their interests are aligned. Morningstar also promotes this criterion and weighs it in their fund rating.
Will let you know if trade at Schwab goes through