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CrossingBridge Low Duration High Income Fund (retail share class available 10/31)

TheShadowTheShadow
in Fund Discussions
https://www.sec.gov/Archives/edgar/data/1141819/000089418924006512/crossingbridge497e103024.htm

497 1 crossingbridge497e103024.htm CROSSINGBRIDGE 497E
Filed pursuant to Rule 497(e)
Registration Nos. 333-62298; 811-10401
CrossingBridge Low Duration High Income Fund
(f/k/a CrossingBridge Low Duration High Yield Fund) (the “Fund”)
a series of Trust for Professional Managers

Institutional Class Shares (CBLDX)
Retail Class Shares (CBLVX)

Supplement dated October 30, 2024 to the
Summary Prospectus, Prospectus and Statement of Additional Information (“SAI”),
each dated October 18, 2024


Effective October 31, 2024, Retail Class shares (trading symbol: CBLVX) of the Fund will be available for purchase.

Effective on the same date, the Summary Prospectus, Prospectus and SAI will be amended to remove all statements to the effect that the Retail Class shares are not currently available for purchase.



Please retain this supplement with your Summary Prospectus, Prospectus and SAI.

Comments

  • fred495
    edited October 31
    Message from Fidelity on 10/31/24 re. CBLVX: "This Fund cannot be traded at Fidelity".
    I'll try again tomorrow.
  • fred495
    Checked again today and CBLVX is still not available at Fidelity or Vanguard.
  • Mona
    The minimum initial investment for CBLDX (ER of 0.91%) at Vanguard is $5,000. Morningstar shows the minimum initial investment for CBLVX (ER of 1.16%) is $2,500. The minimum initial investment spread seems very narrow.
  • fred495
    Anybody know at which brokerage firm CBLVX is available?
  • CrashCrash
    @fred495 Schwab looks like it would allow the purchase. But I just don't have enough free, idle cash sitting around with which to do it. That's why they won't let me proceed. Give it a try.
  • goliath
    I succeeded in buying CBLVX at Schwab yesterday. On previous atttempts I was told it was available to institutional investors only.
  • Bobpa
    What makes more sense? $50,000 (plus $49.95 fee) into CBLDX (ER of 0.91%), or $50,000 (no fee) into CBLVX (ER of 1.16%). Probably would be a long holding time. The advantage of CBLVX would allow additional investments without a fee. The bottom line is, does the extra .25 expense mean that much?
  • Roy
    Over the course of a year the extra .25 ER amounts to an additional $125 in fees.

    Buy the $50,000 in institutional shares and smaller amounts in the retail shares and then down the road look to convert the money in the retail shares to the institutional shares. Is it worth the bit of extra work? Personal decision, I guess.
  • TheShadowTheShadow
    edited November 7
    Just to set the record straight, the initial minimum for Crossingbridge's I share class is $5K. It used to be $50K.

    https://www.sec.gov/Archives/edgar/data/1141819/000089418923005489/crossingbridgefunds497e810.htm
  • msf
    Is it worth the bit of extra work? Personal decision, I guess.

    That applies to any mechanism or platform. If you're willing to use Firstrade, CBLDX is available ($5K min, $100 additional) without a fee. Or you could invest directly with CrossingBridge.

    Is it worth the effort? Up to you.
  • Bobpa
    I went with Roy’s suggestion. Thank you to all for your suggestions.
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