Muzinich Short Duration High Yield Corporate Debt Fund to liquidate

By Toni Weeks

San Diego, Jan. 3 - The board of trustees of Professionally Managed Portfolios has approved the liquidation and termination of the Muzinich Short Duration High Yield Corporate Debt Fund, according to a 497 filing with the Securities and Exchange Commission.

The recommendation was due to the unfavorable economies of operating a small fund with no realistic prospect for future growth, the filing noted.

The liquidation is expected to occur after close of business on Feb. 4.

Effective immediately, the fund will no longer accept purchases of new shares.

New York-based Muzinich & Co., Inc. is the adviser to the fund.

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