Great Lakes Bond Fund launches with two share classes

By Toni Weeks

San Diego, Sept. 28 - Managed Portfolio Series announced it has launched the Great Lakes Bond Fund, according to an N-1A filing with the Securities and Exchange Commission.

The fund seeks total return with an emphasis on current income by investing at least 80% of its net assets, plus any borrowings for investment purposes, in bonds, with up to 30% of the total assets invested in high-yield bonds. The bonds may include fixed- and floating-rate corporate bonds, asset-backed and mortgage-backed securities, and securities issued, backed or guaranteed by the U.S. government or its agencies.

The fund is managed by the Great Lakes Fixed Income team, which is comprised of Stephen W. Rost, William N. Gregg, Emily Li, Patrick Morrissey and Richard M. Rokus.

The fund offers investor class and institutional class shares. They trade under the symbols "GLBDX" and "GLBNX," respectively.

Shareholder fees include a 3.75% maximum sales load for investor class shares.

Management fees are 0.4%. Taking into account the fee waiver agreement, the total annual fund operating expenses are expected to be 0.95% for investor class and 0.7% for institutional class shares.

Chicago-based Great Lakes Advisors, LLC serves as the investment adviser.

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