Low Duration High Income Fund
Fund Overview
The Fund seeks high current income and capital appreciation consistent with the preservation of capital.
WHY INVEST IN THIS FUND
The CrossingBridge Low Duration High Income Fund (CBLDX) seeks high current income and capital appreciation consistent with the preservation of capital. The Fund is managed by Lead Portfolio Manager, David K. Sherman, and Assistant Portfolio Manager, T. Kirk Whitney.
The strategy focuses on purchasing high yield debt with an expected effective maturity of 3 years or less and a weighted average investment horizon of 0.75-2 years. Our goal is to limit credit risk and interest rate risk.
Within the high yield arena, unique opportunities exist to pursue the strategy because traditional high yield investors seek high total returns and longer investment horizons. Especially within a low duration portfolio, CrossingBridge stresses protecting principal rather than chasing yield. We manage the portfolio to mitigate risk and accept the yield of the market commensurate with maturity.
| Inception Date | 1/31/2018 |
| Ticker | CBLDX |
| CUSIP | 89834G604 |
| Distribution Frequency | Monthly |
| Gross Expense Ratio | 0.89% |
| Net Expense Ratio | 0.89% |
| SEC Yield Subsidized (as of 2/28/2025) | 5.95% |
| SEC Yield Unsubsidized (as of 2/28/2025) | 5.95% |
| Primary Benchmark | ICE BofA U.S. High Yield Index ex-Financials |
Fund Managers
DAVID K. SHERMAN
CIO
T. KIRK WHITNEY, CFA
Portfolio Manager
| Month-End as of February 28, 2025 | Annualized | |||||||
| 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception | |
| CBLDX | 0.55% | 1.63% | 3.37% | 1.30% | 6.95% | 5.61% | 5.59% | 4.67% |
| ICE BofA 0-3 Year U.S. High Yield Index ex-Financials | 0.68% | 2.16% | 5.02% | 1.91% | 10.34% | 7.01% | 5.89% | 5.24% |
| ICE BofA 1-3 Year Corporate Bond Index | 0.72% | 1.46% | 2.37% | 1.23% | 6.36% | 3.16% | 2.17% | 2.71% |
| ICE BofA 0-3 Year U.S. Treasury Index | 0.58% | 1.30% | 2.02% | 0.99% | 5.27% | 2.79% | 1.71% | 2.09% |
| Quarter-End as of December 31, 2024 | Annualized | |||||||
| 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception | |
| CBLDX | 0.33% | 1.28% | 3.29% | 7.18% | 7.18% | 5.23% | 5.33% | 4.59% |
| ICE BofA 0-3 Year U.S. High Yield Index ex-Financials | 0.24% | 1.34% | 5.95% | 9.38% | 9.38% | 5.90% | 5.27% | 5.08% |
| ICE BofA 1-3 Year Corporate Bond Index | 0.22% | 0.21% | 3.37% | 5.40% | 5.40% | 2.22% | 2.15% | 2.60% |
| ICE BofA 0-3 Year U.S. Treasury Index | 0.30% | 0.30% | 2.78% | 4.47% | 4.47% | 2.20% | 1.74% | 2.00% |
PERFORMANCE DISCLOSURES
The performance data quoted represents past performance. Past performance does not guarantee future results. All statistics are annualized except in the case of return performance where the length of performance history is less than 1 year. YTD denotes year to date total return.
The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. For the Institutional Share Class, the gross expense ratio is 0.89% and the net expense ratio is 0.89%. The Gross and Net Expense Ratios are as of the prospectus dated January 28, 2025. The net expense ratio per the prospectus is the fee applicable to the investor. Current performance may be lower or higher than the performance quoted. All performance data is net of fees and includes the reinvestment of dividends and capital gains, but does not include the effects of taxes on any capital gains or distributions.
The ICE BofA 0-3 Year US Treasury Index is tracks the performance of US dollar denominated sovereign debt publicly issued by the US government in its domestic market with maturities less than three years. The ICE BofA 1-3 Year US Corporate Index is a subset of the ICE BofA US Corporate Index including all securities with a remaining term to final maturity less than three years. The ICE BofA US Corporate Index tracks the performance of US dollar denominated investment grade corporate debt publicly issued in the US domestic market. The ICE BofA 0-3 Year US High Yield Excluding Financials Index tracks the performance of short maturity US dollar denominated below investment grade rating (based on an average of Moody’s, S&P, and Fitch), at least 18 months to final maturity at the time of issuance, at least one month but less than three years remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and minimum amount outstanding of $250 million.