# EDGAR Filing Document

**Accession Number:** 0001141819
**File Stem:** 0000894189-23-002347
**Filing Date:** 2023-3
**Character Count:** 10025
**Document Hash:** aa7cac419e2afb949cd8505f8b5e8101
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-23-002347.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0000894189-23-002347

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**EFFECTIVENESS DATE**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUST FOR PROFESSIONAL MANAGERS
- **CENTRAL INDEX KEY:** 0001141819
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-62298
- **FILM NUMBER:** 23783689

**BUSINESS ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4147655067

**MAIL ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZODIAC TRUST
- **DATE OF NAME CHANGE:** 20010601

## Series and Classes Contracts Data

### Performance Trust Credit Fund (Series ID: S000070558)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                          | Ticker Symbol | Class ID   |
| Performance Trust Credit Fund - Institutional Class | PTCRX         | C000224122 |

---

## Series and Classes Contracts Data

### Performance Trust Credit Fund (Series ID: S000070558)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000224122 | Performance Trust Credit Fund - Institutional Class | PTCRX           |

Filed pursuant to Rule 497(e)

Registration Nos. 333-62298; 811-10401

**Supplement dated March 31, 2023**

**to the**

**Performance Trust Credit Fund (the "Fund")**

**Summary Prospectus and Prospectus**

**dated December 29, 2022**

Effective March 31, 2023, Mr. Michael Isroff has been added as a portfolio manager of the Fund.

Accordingly, the following disclosures in the Fund's Summary Prospectus and Prospectus, each dated December 29, 2022, are hereby amended to reflect the addition of Mr. Isroff as a portfolio manager:

***<u>Summary Prospectus and Prospectus</u>***

**The disclosure under the section titled "Management – Portfolio Manager" on page 8 of the Summary Prospectus and page 19 of the Prospectus is amended to read as follows:**

**Portfolio Managers**

The following individuals serve as portfolio managers of the Fund:

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| | | |
|:---|:---|:---|
| **<u>Name</u>** | **<u>Primary Title</u>** | **<u>Year Service Began</u>** |
| Anthony J. Harris, CPA | Senior Portfolio Manager | 2021 |
| G. Michael Plaiss, CFA | Senior Portfolio Manager | 2021 |
| Lars Anderson, CFA | Portfolio Manager | 2021 |
| Michael Isroff | Portfolio Manager | 2023 |

---

***<u>Prospectus</u>***

**The disclosure under the section titled "Management of the Funds – Portfolio Managers" beginning on page 31 is amended to include the following:**

*Michael Isroff*

Mr. Isroff serves as a member of the Adviser's portfolio management team. He joined the Adviser in March 2015 and became a Portfolio Manager in March 2023. Mr. Isroff is responsible for portfolio construction and security selection with an emphasis on commercial mortgage-backed securities. Prior to joining the Adviser, Mr. Isroff was a Senior Manager for Deloitte where he advised clients on commercial real estate acquisitions, real estate mergers and loan workouts. From 2003 to 2008, he was a member of the acquisitions team for Pearlmark Real Estate Partners (formerly Transwestern Investment Company), a real estate private equity firm based in Chicago. In total, Mr. Isroff has been directly involved, as both a principal and an advisor, in the closing of over $3.0B in commercial real estate transactions across all major property types. Mr. Isroff earned a Bachelor of Science degree from University of Kansas and received his Juris Doctorate from DePaul University College of Law.

**Please retain this supplement with your Summary Prospectus and** 

**Prospectus dated December 29, 2022.**

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Filed pursuant to Rule 497(e)

Registration Nos. 333-62298; 811-10401

**Supplement dated March 31, 2023**

**to the**

**Performance Trust Credit Fund (the "Fund")**

**Statement of Additional Information ("SAI")**

**dated December 29, 2022, as supplemented**

Effective March 31, 2023, Mr. Michael Isroff has been added as a portfolio manager of the Fund.

Accordingly, the following disclosures in the Fund's SAI dated December 29, 2022, as amended are hereby supplemented to reflect the addition of Mr. Isroff as a portfolio manager:

**The section titled "Management of the Funds – Portfolio Managers," beginning on page 42 is amended to read as follows:**

**Portfolio Managers**

As stated in the Prospectus, G. Michael Plaiss and Mark Peiler are the Portfolio Managers for the Municipal Bond Fund, Anthony J. Harris and G. Michael Plaiss are the Senior Portfolio Managers for the Strategic Bond Fund and Anthony J. Harris and G. Michael Plaiss are the Senior Portfolio Managers for the Credit Fund and Lars Anderson and Michael Isroff are Portfolio Managers for the Credit Fund (collectively, the "Portfolio Managers"). Mr. Plaiss and Mr. Peiler are jointly responsible for the day-to-day management of the Municipal Bond Fund's investment portfolio. Mr. Harris and Mr. Plaiss are jointly responsible for the day-to-day management of the Strategic Bond Fund's investment portfolio. Mr. Harris, Mr. Plaiss, Mr. Anderson and Mr. Isroff are jointly responsible for the day-to-day management of the Credit Fund's investment portfolio.

*Other Accounts Managed*

The following provides information regarding other accounts managed by the Portfolio Managers as of August 31, 2022:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Category of Account** | **Total Number of Accounts Managed** | **Total Assets in Accounts Managed** | **Number of Accounts for which Advisory Fee is Based on Performance** | **Assets in Accounts for which Advisory Fee is Based on Performance** |
| &nbsp;&nbsp;**<u>Anthony J. Harris</u>** | | | | |
| &nbsp;&nbsp;Other Registered Investment Companies | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;Other Pooled Investment Vehicles | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;Other Accounts | 1 | $16631852 | 0 | $0 |
| &nbsp;&nbsp;**<u>G. Michael Plaiss</u>** |  |  |  |  |
| &nbsp;&nbsp;Other Registered Investment Companies | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;Other Pooled Investment Vehicles | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;Other Accounts | 2 | $17486792 | 0 | $0 |
| &nbsp;&nbsp;**<u>Lars Anderson</u>** |  |  |  |  |
| &nbsp;&nbsp;Other Registered Investment Companies | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;Other Pooled Investment Vehicles | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;Other Accounts | 0 | $0 | 0 | $0 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| **Category of Account** | **Total Number of Accounts Managed** | **Total Assets in Accounts Managed** | **Number of Accounts for which Advisory Fee is Based on Performance** | **Assets in Accounts for which Advisory Fee is Based on Performance** |
| &nbsp;&nbsp;**<u>Mark Peiler</u>** | | | | |
| &nbsp;&nbsp;Other Registered Investment Companies | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;Other Pooled Investment Vehicles | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;Other Accounts | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;**<u>Michael Isroff\*</u>** |  |  |  |  |
| &nbsp;&nbsp;Other Registered Investment Companies | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;Other Pooled Investment Vehicles | 0 | $0 | 0 | $0 |
| &nbsp;&nbsp;Other Accounts | 0 | $0 | 0 | $0 |

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\*&nbsp;&nbsp;&nbsp;&nbsp;Information for Mr. Isroff is provided as of March 31, 2023.

*Material Conflicts of Interest*

The Portfolio Managers' management of "other accounts" may give rise to potential conflicts of interest in connection with the management of the Funds' investments, on the one hand, and the investments of the other accounts, on the other. The other accounts may have the same investment objective as the Funds. Therefore, a potential conflict of interest may arise as a result of the identical investment objectives, whereby the Portfolio Managers could favor one account over another. Another potential conflict could include the Portfolio Managers' knowledge about the size, timing and possible market impact of Fund trades, whereby the Portfolio Managers could use this information to the advantage of other accounts and to the disadvantage of the Funds. However, the Adviser has established policies and procedures to ensure that the purchase and sale of securities among all accounts it manages are fairly and equitably allocated.

*Portfolio Manager Compensation*

The Adviser compensates the Portfolio Managers for their management of the Funds. Portfolio Managers are compensated with a cash salary based on industry standards, and a discretionary bonus. The bonus incentives are tied primarily to investment performance and related goals.

*Ownership of Securities in the Funds by the Portfolio Managers*

As of August 31, 2022, the Portfolio Managers beneficially owned securities in the Funds as shown below:

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| | | | |
|:---|:---|:---|:---|
| | **Dollar Range of Equity Securities in the Funds** | **Dollar Range of Equity Securities in the Funds** | **Dollar Range of Equity Securities in the Funds** |
| **<u>Name of Portfolio Manager</u>** | **<u>Strategic Bond Fund</u>** | **<u>Municipal Bond Fund</u>** | **<u>Credit Fund</u>** |
| Anthony J. Harris | $50001 - $100000 | $10001 - $50000 | $10001 - $50000 |
| G. Michael Plaiss | $50001 - $100000 |  |  |
| Lars Anderson |  |  |  |
| Mark Peiler | $100001 - $500000 | $10001 - $50000 | $10001 - $50000 |
| Michael Isroff\* | $50001 - $100000 |  |  |

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\*&nbsp;&nbsp;&nbsp;&nbsp;Information for Mr. Isroff is provided as of March 31, 2023.

**Please retain this supplement with your SAI dated December 29, 2022.**

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