Two Phase Tactical funds plan launch with two share classes for April

By Toni Weeks

San Diego, Feb. 15 - The Trust for Professional Managers announced in an N-1A filing with the Securities and Exchange Commission that it is planning two new funds.

The Phase Tactical 500 Fund and the Phase Tactical 2000 Fund will both launch with class A and institutional class shares. Ticker symbols have not yet been determined.

The Phase Tactical 500 fund will seek long-term capital appreciation. It will aim to deliver improved risk-adjusted returns and more consistent volatility than that of the S&P 500 index over the course of a market cycle by allocating its assets among equity index futures contracts and investments in U.S. Treasury securities. The fund expects to invest up to 20% of its total net assets in S&P 500 index futures, with the balance invested in U.S. Treasury securities.

Shareholder fees consist of a 1% redemption fee for shares held 30 days or less. Management fees will be 1.25%. Including other fees, and taking into account an operating expense limitation agreement with the adviser, total annual fund operating expenses are expected to be 2.62% and 2.87% for institutional class and class A shares, respectively.

The Phase Tactical 2000 fund will also seek long-term capital appreciation and will seek to deliver improved risk-adjust returns and more consistent volatility with respect to the Russell 2000 index over the course of a market cycle by allocating its assets among equity index futures contracts and investments in U.S. Treasury securities. The fund expects to invest up to 20% of the fund's total net assets in Russell 2000 index futures and the balance in U.S. Treasury securities.

Shareholder fees consist of a 1% redemption fee for shares held 30 days or less. Management fees will be 1.25%. Including other fees and the operating expense limitation agreement with the adviser, total annual fund operating expenses are expected to be 2.61% and 2.86% for institutional class and class A shares, respectively.

John Donahue and Geoffrey Gooddell will serve as the portfolio managers for both funds.

Boston-based Phase Capital LP is the investment adviser.

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