Fund Overview
The CrossingBridge Responsible Credit Fund seeks high current income and capital appreciation consistent with the preservation of capital.
WHY INVEST IN THIS FUND
The Fund’s strategy is focused on investing in corporate credit of issuers that portray a mindfulness toward impactful environmental, social, and governance (ESG) practices, while excluding those that are primarily engaged in an activity on our Exclusionary List. The Fund is focused on bottom-up investing opportunities, taking into consideration an issuer's business model, quantitative and qualitative factors, as well as our internal responsible investing criteria. The Fund will generally pursue a duration of 2 to 4 under normal market conditions. Further, the Fund is non-diversified under the 1940 act, therefore allowing the fund to be more concentrated than a diversified fund.
We believe that material environmental, social and governance (ESG) factors can influence the investment risk-return profile and quality of companies and investments. By integrating ESG assessments into our investment processes for the CrossingBridge Responsible Credit Fund, we believe that it can provide many benefits that affect the valuation of securities, such as better controlling the risk of our portfolio and helping companies improve over the long-term. The CrossingBridge Responsible Credit Fund utilizes a proprietary ESG Matrix where an issuer’s ESG criteria can be ranked either positively or negatively and assigned a numerical score. For an issuer to meet to the primary objective of the Fund, their score must meet our internal threshold.
| Inception Date | 6/30/2021 |
| Ticker | CBRDX |
| CUSIP | 89834G810 |
| Distribution Frequency | Monthly |
| Gross Expense Ratio | 1.71% |
| Net Expense Ratio | 0.91% |
| SEC Yield Subsidized (as of 4/30/2024) | 7.98% |
| SEC Yield Unsubsidized (as of 4/30/2024) | 7.42% |
| Primary Index | Bloomberg U.S. Aggregate Bond Index |
Fund Managers
DAVID K. SHERMAN
Founder, President & Portfolio Manager
T. KIRK WHITNEY, CFA
Assistant Portfolio Manager
| Month-End as of April 30, 2024 | ||||||
| 1 Month | 3 Month | 6 Month | YTD | 1 Year | Since Inception | |
| CBRDX | 0.60% | 2.39% | 5.33% | 3.05% | 8.57% | 4.94% |
| ICE BofA U.S. High Yield Index | -1.00% | 0.48% | 8.94% | 0.50% | 8.88% | 1.00% |
| ICE BofA U.S. Corporate Index | -2.33% | -2.55% | 7.27% | -2.41% | 1.40% | -3.82% |
| ICE BofA 3-7 Year U.S. Treasury Index | -1.71% | -2.58% | 2.63% | -2.29% | -1.24% | -3.02% |
| Quarter-End as of March 31, 2024 | ||||||
| 1 Month | 3 Month | 6 Month | YTD | 1 Year | Since Inception | |
| CBRDX | 0.68% | 2.43% | 4.97% | 2.43% | 8.51% | 4.86% |
| ICE BofA U.S. High Yield Index | 1.19% | 1.51% | 8.68% | 1.51% | 11.04% | 1.40% |
| ICE BofA U.S. Corporate Index | 1.19% | -0.08% | 7.83% | -0.08% | 4.70% | -3.11% |
| ICE BofA 3-7 Year U.S. Treasury Index | 0.47% | -0.59% | 3.85% | -0.59% | 1.19% | -2.49% |
PERFORMANCE DISCLOSURES
Definitions: YTD denotes year to date total return.
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.
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 1.71% and the net expense ratio is 0.91%. For the Institutional Share Class, there is a 0.80% expense cap in place through January 31, 2025. The Gross and Net Expense Ratios are as of the prospectus dated January 28, 2024. Investment performance reflects contractual fee waivers in effect through January 31, 2025. In the absence of such fee waivers, total return would be reduced. 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 U.S. High Yield Index tracks the performance of U.S. dollar denominated below investment grade corporate debt publicly issued in the U.S. domestic market.
The ICE BofA U.S. Corporate Index tracks the performance of U.S. dollar denominated investment grade corporate debt publicly issued in the U.S. domestic market.
The ICE BofA 3-7 Year U.S. Treasury Index is a subset of ICE BofA U.S. Treasury Index including all securities with a remaining term to final maturity greater than or equal to 3 years and less than 7 years.