Professional Managed Portfolios announces four Muzinich-advised funds

By Toni Weeks

San Diego, March 16 - Professional Managed Portfolios announced it has launched four new funds advised by Muzinich & Co., Inc., according to a 497 filing with the Securities and Exchange Commission.

The funds are the Muzinich Short Duration High Yield Corporate Debt Fund, the Muzinich High Income Floating Rate Fund, the Muzinich U.S. High Yield Corporate Bond Fund and the Muzinich Credit Opportunities Fund.

All four funds offer class A shares, institutional shares and supra institutional shares.

The Short Duration High Yield Corporate Debt Fund seeks to provide a high level of income with an emphasis on relative price stability and principal protection. It will invest at least 80% of its net assets in high-yield corporate bonds and loans, focusing on bonds with short durations.

David A. Bowen, Dennis V. Dowden and Michael L. McEachern are the portfolio managers.

Class A shares are subject to a 4.25% maximum front end sales charge. A redemption fee of 1% will be assessed for redemptions of shares from any share class occurring within 90 days of purchase.

Management fees will be 0.55%. Including other expenses and a fee waiver with the adviser, total annual fund operating expenses are expected to be 1% for class A, 0.65% for institutional and 0.55% for supra institutional class shares.

The High Income Floating Rate Fund will seek a high level of income with a focus on principal preservation and reduced exposure to changes in interest rates by investing at least 80% of its net assets in floating-rate bonds or loans.

David A. Bowen, Dennis V. Dowden and Michael L. McEachern are the portfolio managers.

Management fees will be 0.55%. A redemption fee of 1% will be assessed for redemptions of shares from any share class occurring within 90 days of purchase. Total annual fund operating expenses are expected to be 1.05% for class A, 0.7% for institutional and 0.6% for supra institutional class shares.

The U.S. High Yield Corporate Bond Fund will seek a high level of income on a risk-adjusted basis over a full market cycle by investing at least 80% of its net assets in high-yield bonds of U.S. corporations.

Clinton J. Comeaux and Bryan Petermann are the portfolio managers.

Total annual fund operating expenses are expected to be 1.05% for class A, 0.75% for institutional and 0.58% for supra institutional class shares.

The Muzinich Credit Opportunities Fund seeks primarily to provide high-yield income and capital appreciation by investing at least 80% of its net assets in below-investment-grade corporate bonds, bank loans and bank loan participations, including floating-rate loans, issued by U.S. and foreign corporations.

Clinton J. Comeaux and Bryan Petermann are the portfolio managers.

Management fees will be 0.55%. A redemption fee of 1% will be assessed for redemptions of shares from any share class occurring within 90 days of purchase. Total annual fund operating expenses are expected to be 2.05% for class A, 1.8% for institutional and 1.6% for supra institutional class shares.

Muzinich is based in New York.

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