Shareholder Report | 12 Months Ended |
Sep. 30, 2024 USD ($) $ / shares |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | Trust for Professional Managers |
Entity Central Index Key | 0001141819 |
Entity Investment Company Type | N-1A |
Document Period End Date | Sep. 30, 2024 |
Institutional Class | |
Shareholder Report [Line Items] | |
Fund Name | CrossingBridge Low Duration High Income Fund |
Class Name | Institutional Class |
Trading Symbol | CBLDX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the CrossingBridge Low Duration High Income Fund (the “Fund”) for the period of October 1, 2023 to September 30, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.crossingbridgefunds.com/low-duration-high-income-fund . You can also request this information by contacting us at 1-888-898-2780 . |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund. |
Additional Information Phone Number | 1-888-898-2780 |
Additional Information Website | https://www.crossingbridgefunds.com/low-duration-high-income-fund |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Institutional Class $90 0.86% |
Expenses Paid, Amount | $ 90 |
Expense Ratio, Percent | 0.86% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? During the fiscal year, the Fund gained 8.51% on its Institutional Class shares while the ICE BofA 0-3 Year U.S. High Yield Excluding Financials Index gained 11.82%, the ICE BofA 1-3 Year U.S. Corporate Bond Index gained 8.37% and the ICE BofA 0-3 Year U.S. Treasury Index gained 6.40%. The Bloomberg U.S. Aggregate Bond Index, the Fund’s broad based securities market index, gained 11.57% over the same period. Monthly investment results for the fiscal year ranged from 0.13% in June 2024 to 1.17% in December 2023. The Fund generated positive returns all twelve months during the fiscal year. The median monthly return for the period was 0.73% with an annualized standard deviation of 2.79%. The Fund had positive contributions from interest income and had realized and unrealized gains during the fiscal year. 100% of the income was distributed for a 1-year dividend yield of 7.30%. The Fund’s subsidized 30-day SEC yield was 7.77% and unsubsidized 30-day SEC yield was 7.77%. The total return for the fiscal year was positive. The Fund’s NAV increased from $9.66 on September 30, 2023 to $9.75 on September 30, 2024, this was offset by the Fund distributing $0.71 in income during the fiscal year. As we have made reference to in all four CrossingBridge quarterly commentaries we published this past fiscal year (available on our website), credit spreads, both investment grade and high yield, have continued grinding tighter, recently hitting their tightest levels in 15 years. Even in the face of tight credit spreads and a highly uncertain interest rate market, we remain opportunistic and continue to pursue four main themes: 1) Floating rate debt – continuing to take advantage of the inverted yield curve 2) Foreign issuers – better credit characteristics with higher yields than U.S. counterparts 3) Event-driven debt – catalysts hold potential for higher rates of return 4) Higher credit quality issuers – leaning into investment grade opportunities With this backdrop, throughout the fiscal year we had remained (and continue to remain) more defensively positioned, aiming to maintain attractive yields while leaning more toward investment grade debt. At the same time, we have maintained low durations and continue holding significant “dry powder” (cash/cash equivalents/pre-merger SPACs/maturities of 90 days or less) to 1) help protect capital while generating what we believe to be relatively attractive yields with the inverted yield curve, and 2) take advantage of opportunities as they arise. As of September 30, 2024, the Fund’s net assets were weighted by category as follows: 31.6% in Short Term Securities, 4.6% in Event Driven, 16.9% in Interest Rate Sensitive, 34.9% in Core Value, 4.8% in Credit Opportunities, with the remaining 7.2% in cash and cash equivalents. |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. |
Line Graph [Table Text Block] | |
Average Annual Return [Table Text Block] | ANNUAL AVERAGE TOTAL RETURN (%) 1 Year 5 Year Since Inception (01/31/2018) Institutional Class 8.51 5.16 4.57 Bloomberg U.S. Aggregate Bond Index 11.57 0.33 1.67 ICE BofA 0-3 Year U.S. High Yield Excluding Financials Index 11.82 5.34 5.06 ICE BofA 0-3 Year U.S. Treasury Index 6.40 1.78 2.02 ICE BofA 1-3 Year U.S. Corporate Bond Index 8.37 2.29 2.66 |
No Deduction of Taxes [Text Block] | The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Material Change Date | Oct. 18, 2024 |
Updated Performance Information Location [Text Block] | Visit https://www.crossingbridgefunds.com/low-duration-high-income-fund for more recent performance information. Visit https://www.crossingbridgefunds.com/low-duration-high-income-fund for recent performance information. |
Net Assets | $ 1,036,014,423 |
Holdings Count | $ / shares | 135 |
Advisory Fees Paid, Amount | $ 5,145,427 |
Investment Company Portfolio Turnover | 124.47% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of September 30, 2024) Net Assets $1,036,014,423 Number of Holdings 135 Net Advisory Fee $5,145,427 Portfolio Turnover 124.47% |
Holdings [Text Block] | Top 10 Issuers First American Treasury Obligations Fund 4.5% Connect Finco SARL 3.4% BX Trust 3.4% AbbVie, Inc. 2.7% Ford Motor Credit Co. LLC 2.6% Jabil, Inc. 2.2% Infrabuild Australia Pty Ltd. 2.2% Forum Energy Technologies, Inc. 2.2% Sizzling Platter LLC 2.2% TPC Group, Inc. 2.0% Security Type Corporate Bonds 57.0% Bank Loans 10.0% Commercial Paper 9.4% Mortgage-Backed Securities 4.9% Asset-Backed Securities 4.6% Money Market Funds 4.5% Convertible Bonds 3.7% Preferred Stocks 1.0% Special Purpose Acquisition Companies (SPACs) 0.4% Other 4.5% |
Material Fund Change [Text Block] | How has the Fund changed? This is a summary of certain changes to the Fund. For more complete information, you may review the Fund’s prospectus. Effective October 18, 2024 , the Fund changed its name from the CrossingBridge Low Duration High Yield Fund to the CrossingBridge Low Duration High Income Fund. In connection with the name change, the Fund incorporated into its principal investment strategies a revised investment policy of investing at least 80% of its net assets (plus any borrowings for investment purposes) in portfolio of income producing fixed income securities. The Fund made additional changes to its principal investment strategies with respect to the types of fixed income instruments the Fund may invest in under its 80% policy and the target duration of the Fund’s fixed income portfolio. |
Updated Prospectus Web Address | https://www.crossingbridgefunds.com/low-duration-high-income-fund |
Institutional Class | |
Shareholder Report [Line Items] | |
Fund Name | CrossingBridge Responsible Credit Fund |
Class Name | Institutional Class |
Trading Symbol | CBRDX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the CrossingBridge Responsible Credit Fund (the “Fund”) for the period of October 1, 2023 to September 30, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.crossingbridgefunds.com/responsible-credit-fund . You can also request this information by contacting us at 1-888-898-2780 . |
Additional Information Phone Number | 1-888-898-2780 |
Additional Information Website | https://www.crossingbridgefunds.com/responsible-credit-fund |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Institutional Class $93 0.90% |
Expenses Paid, Amount | $ 93 |
Expense Ratio, Percent | 0.90% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? During this fiscal year, the Fund gained 7.74% on its Institutional Class shares while the ICE BofA U.S. High Yield Total Return Index gained 15.66%, the ICE BofA U.S. Corporate Bond Index gained 14.13% and the ICE BofA 3-7 Year U.S. Treasury Index gained 9.07%. The Bloomberg U.S. Aggregate Bond Index, the Fund’s broad based securities market index, gained 11.57% over the same period. Monthly investment results for the fiscal year ranged from -0.50% in June 2024 to 1.70% in December 2023. The Fund generated positive returns for eleven out of the twelve months during the fiscal year. The median monthly return for the fiscal year was 0.62% with an annualized standard deviation of 2.69%. The Fund had positive contributions from interest income and had realized capital gains and unrealized losses during the period. 100% of the income was distributed for a 1-year dividend yield of 7.89%. The Fund’s subsidized 30-day SEC yield was 8.14% and unsubsidized 30-day SEC yield was 7.48%. The total return for the period was positive. Although the Fund’s NAV decreased from $9.36 on September 30, 2023 to $9.33 on September 30, 2024, that decrease was more than offset as the Fund distributed $0.74 in income during the fiscal year. As we have made reference to in all four CrossingBridge quarterly commentaries we published this past fiscal year (available on our website), credit spreads, both investment grade and high yield, have continued grinding tighter, recently hitting their tightest levels in 15 years. Even in the face of tight credit spreads and a highly uncertain interest rate market, we remain opportunistic and continue to pursue four main themes: 1) Floating rate debt – continuing to take advantage of the inverted yield curve 2) Foreign issuers – better credit characteristics with higher yields than U.S. counterparts 3) Event-driven debt – catalysts hold potential for higher rates of return 4) Higher credit quality issuers – leaning into investment grade opportunities With this backdrop, throughout the fiscal year we had remained (and continue to remain) more defensively positioned, aiming to maintain attractive yields while leaning more toward investment grade debt. At the same time, we have maintained low durations and continue holding significant “dry powder” (cash/cash equivalents/pre-merger SPACs/maturities of 90 days or less) to 1) help protect capital while generating what we believe to be relatively attractive yields with the inverted yield curve, and 2) take advantage of opportunities as they arise. As of September 30, 2024, the Fund’s net assets were weighted by category as follows: 16.96% in Short Term Securities, 7.18% in Event Driven, 25.84% in Interest Rate Sensitive, 38.17% in Core Value, 4.62% in Credit Opportunities, with the remaining 7.23% in cash and cash equivalents. |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. |
Line Graph [Table Text Block] | |
Average Annual Return [Table Text Block] | ANNUAL AVERAGE TOTAL RETURN (%) 1 Year Since Inception (06/30/2021) Institutional Class 7.74 4.93 Bloomberg U.S. Aggregate Bond Index 11.57 -1.27 ICE BofA U.S. High Yield Total Return Index 15.66 3.14 ICE BofA U.S. Corporate Bond Index 14.13 -0.92 ICE BofA 3-7 Year U.S. Treasury Index 9.07 -0.62 |
No Deduction of Taxes [Text Block] | The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Visit https://www.crossingbridgefunds.com/responsible-credit-fund for more recent performance information. Visit https://www.crossingbridgefunds.com/responsible-credit-fund for recent performance information. |
Net Assets | $ 40,698,309 |
Holdings Count | $ / shares | 67 |
Advisory Fees Paid, Amount | $ 18,314 |
Investment Company Portfolio Turnover | 151.44% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of September 30, 2024) Net Assets $40,698,309 Number of Holdings 67 Net Advisory Fee $18,314 Portfolio Turnover 151.44% |
Holdings [Text Block] | Top 10 Issuers Forum Energy Technologies, Inc. 4.5% First American Treasury Obligations Fund 4.3% Uber Technologies, Inc. 3.7% Ford Motor Credit Co. LLC 2.9% Chobani LLC 2.9% Connect Finco SARL 2.9% Novedo Holding AB 2.8% General Motors Financial Co., Inc. 2.7% Expedia Group, Inc. 2.6% Icahn Enterprises LP 2.6% Security Type Corporate Bonds 51.7% Bank Loans 23.3% Commercial Paper 10.3% Money Market Funds 5.9% Convertible Bonds 2.3% Asset-Backed Securities 2.1% Preferred Stocks 1.1% Common Stocks 0.5% Real Estate Investment Trusts 0.4% Other 2.4% |
Updated Prospectus Web Address | https://www.crossingbridgefunds.com/responsible-credit-fund |
Institutional Class | |
Shareholder Report [Line Items] | |
Fund Name | CrossingBridge Ultra-Short Duration Fund |
Class Name | Institutional Class |
Trading Symbol | CBUDX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the CrossingBridge Ultra-Short Duration Fund (the “Fund”) for the period of October 1, 2023 to September 30, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https:// www.crossingbridgefunds.com/ultra-short-duration-fund . You can also request this information by contacting us at 1-888-898-2780 . |
Additional Information Phone Number | 1-888-898-2780 |
Additional Information Website | https://www.crossingbridgefunds.com/ultra-short-duration-fund |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Institutional Class $93 0.90% |
Expenses Paid, Amount | $ 93 |
Expense Ratio, Percent | 0.90% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? During this fiscal year, the Fund gained 6.23% on its Institutional Class shares while the ICE BofA 0-1 Year U.S. Corporate Bond Index gained 6.33%, the ICE BofA 0-1 Year U.S. Treasury Index gained 5.65% and the ICE BofA 0-3 Year U.S. Fixed Rate Asset Backed Securities Index gained 7.35%. The Bloomberg U.S. Aggregate Bond Index, the Fund’s broad based securities market index, gained 11/57% over the same period. Monthly investment results for the fiscal year ranged from 0.27% in June 2024 to 0.81% in November 2023. The Fund generated positive returns for all twelve months during the fiscal year. The median monthly return for the fiscal year was 0.51% with an annualized standard deviation of 0.84%. The Fund had positive contributions from interest income and had realized gains and unrealized losses during the fiscal year. 100% of the income was distributed for a 1-year dividend yield of 5.74%. The Fund’s subsidized 30-day SEC yield was 5.80% and unsubsidized 30-day SEC yield was 5.76%. The total return for the fiscal year was positive. The Fund’s NAV increased from $9.91 on September 30, 2023 to $9.94 on September 30, 2024. The Fund distributed $0.57 of income during the fiscal year. As we have made reference to in all four CrossingBridge quarterly commentaries we published this past fiscal year (available on our website), credit spreads, both investment grade and high yield, have continued grinding tighter, recently hitting their tightest levels in 15 years. Even in the face of tight credit spreads and a highly uncertain interest rate market, we remain opportunistic and continue to pursue four main themes: 1) Floating rate debt – continuing to take advantage of the inverted yield curve 2) Foreign issuers – better credit characteristics with higher yields than U.S. counterparts 3) Event-driven debt – catalysts hold potential for higher rates of return 4) Higher credit quality issuers – leaning into investment grade opportunities With this backdrop, throughout the fiscal year we had remained (and continue to remain) more defensively positioned, aiming to maintain attractive yields while leaning more toward investment grade debt. At the same time, we have maintained low durations and continue holding significant “dry powder” (cash/cash equivalents/pre-merger SPACs/maturities of 90 days or less) to 1) help protect capital while generating what we believe to be relatively attractive yields with the inverted yield curve, and 2) take advantage of opportunities as they arise. As of September 30, 2024, the Fund’s net assets were weighted by category as follows: 47.8% in Short Term Securities, 6.8% in Event Driven, 12.9% in Interest Rate Sensitive, 26.0% in Core Value, 1.9% in Credit Opportunities, with the remaining 4.6% in cash and cash equivalents. |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. |
Line Graph [Table Text Block] | |
Average Annual Return [Table Text Block] | ANNUAL AVERAGE TOTAL RETURN (%) 1 Year Since Inception (06/30/2021) Institutional Class 6.23 3.93 Bloomberg U.S. Aggregate Bond Index 11.57 -1.27 ICE BofA 0-1 Year U.S. Corporate Bond Index 6.33 3.14 ICE BofA 0-1 Year U.S. Treasury Index 5.65 2.99 ICE BofA 0-3 Year U.S. Fixed Rate Asset Backed Securities Index 7.35 2.53 |
No Deduction of Taxes [Text Block] | The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Visit https://www.crossingbridgefunds.com/ultra-short-duration-fund for more recent performance information. Visit https://www.crossingbridgefunds.com/ultra-short-duration-fund for recent performance information. |
Net Assets | $ 169,216,727 |
Holdings Count | $ / shares | 82 |
Advisory Fees Paid, Amount | $ 646,681 |
Investment Company Portfolio Turnover | 154.21% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of September 30, 2024) Net Assets $169,216,727 Number of Holdings 82 Net Advisory Fee $646,681 Portfolio Turnover 154.21% |
Holdings [Text Block] | Top 10 Issuers BX Trust 5.8% Carlisle Cos., Inc. 2.9% Hewlett Packard Enterprise Co. 2.7% Clear Channel International 2.6% Qorvo, Inc. 2.6% Uber Technologies, Inc. 2.5% Zimmer Biomet Holdings, Inc. 2.5% Sonoco Products Co. 2.5% Connect Finco SARL 2.5% First American Treasury Obligations Fund 2.5% Security Type Corporate Bonds 65.9% Mortgage-Backed Securities 8.7% Bank Loans 5.3% Commercial Paper 4.8% Asset-Backed Securities 4.6% Municipal Bonds 2.5% Money Market Funds 2.5% Convertible Bonds 2.2% Warrants 0.0% Other 3.5% |
Updated Prospectus Web Address | https://www.crossingbridgefunds.com/ultra-short-duration-fund |
CrossingBridge Pre-Merger SPAC ETF | |
Shareholder Report [Line Items] | |
Fund Name | CrossingBridge Pre-Merger SPAC ETF |
Class Name | CrossingBridge Pre-Merger SPAC ETF |
Trading Symbol | SPC |
Security Exchange Name | NASDAQ |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the CrossingBridge Pre-Merger SPAC ETF (the “Fund”) for the period of October 1, 2023 to September 30, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.crossingbridgefunds.com/spac-etf . You can also request this information by contacting us at 1-888-898-2780 . |
Additional Information Phone Number | 1-888-898-2780 |
Additional Information Website | https://www.crossingbridgefunds.com/spac-etf |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment) Fund Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment CrossingBridge Pre-Merger SPAC ETF $89 0.87% |
Expenses Paid, Amount | $ 89 |
Expense Ratio, Percent | 0.87% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? During this fiscal year, the Fund had a NAV return of 4.54% and a market return of 4.40%. The Fund’s market return of 4.40% underperformed the ICE BofA 0-3 Year U.S. Treasury Index’s gain of 6.40% for the fiscal year, however, the Fund has outperformed the Index by 2.69% per year (annualized) since inception. The Bloomberg U.S. Aggregate Bond Index, the Fund’s broad-based securities market index, gained 11/57% during the fiscal year. The Fund had realized and unrealized gains during the fiscal year. The total return for the period was positive. Although the share price decreased from $20.72 on September 30, 2023 to $21.54 on September 30, 2024 and the NAV decreased from $21.69 to $21.54 for the fiscal year, this was more than offset by the distribution of $0.79 of income during the fiscal year. Special Purpose Acquisition Companies (SPACs) behave like floating rate fixed income securities due to their IPO proceeds being placed in a trust account typically invested in ultra-short term U.S. government securities for the benefit of SPAC shareholders. As both short-term & longer-term U.S. Treasury rates fell over the fiscal year, pre-merger SPACs lagged both the short-term ICE BofA 0-3 Year U.S. Treasury Index, which is comprised of fixed rate Treasury securities with a slightly longer duration than the Fund, and the Bloomberg U.S. Aggregate Bond Index, which would be expected as the Bloomberg U.S. Aggregate Bond Index would benefit from having a significantly longer duration than the Fund. In addition, in this part of the cycle comprised of tight spreads and falling short-term Treasury rates, new deals have been being priced with less attractive terms then we have seen over the past few years. |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. |
Line Graph [Table Text Block] | |
Average Annual Return [Table Text Block] | ANNUAL AVERAGE TOTAL RETURN (%) 1 Year Since Inception (09/20/2021) CrossingBridge Pre-Merger SPAC ETF NAV 4.54 4.63 Bloomberg U.S. Aggregate Bond Index 11.57 -1.72 ICE BofA 0-3 Year U.S. Treasury Index 6.40 1.93 |
No Deduction of Taxes [Text Block] | The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Visit https://www.crossingbridgefunds.com/spac-etf for more recent performance information. Visit https://www.crossingbridgefunds.com/spac-etf for recent performance information. |
Net Assets | $ 68,932,710 |
Holdings Count | $ / shares | 51 |
Advisory Fees Paid, Amount | $ 559,345 |
Investment Company Portfolio Turnover | 92.91% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of September 30, 2024) Net Assets $68,932,710 Number of Holdings 51 Net Advisory Fee $559,345 Portfolio Turnover 92.91% |
Holdings [Text Block] | Top 10 Issuers Cartesian Growth Corp. II 5.2% ESH Acquisition Corp. 5.1% Iron Horse Acquisitions Corp. 4.8% Bowen Acquisition Corp. 4.7% IB Acquisition Corp. 4.6% AlphaVest Acquisition Corp. 4.5% Slam Corp. 4.4% Oak Woods Acquisition Corp. 4.0% Keen Vision Acquisition Corp. 4.0% Nabors Energy Transition Corp. II 3.7% Security Type Special Purpose Acquisition Companies (SPACs) 96.8% Money Market Funds 1.5% Commercial Paper 1.4% Rights 0.2% Warrants 0.1% Other 0.0% |
Updated Prospectus Web Address | https://www.crossingbridgefunds.com/spac-etf |
Retail Class | |
Shareholder Report [Line Items] | |
Fund Name | Riverpark Strategic Income Fund |
Class Name | Retail Class |
Trading Symbol | RSIVX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the Riverpark Strategic Income Fund (the “Fund”) for the period of October 1, 2023 to September 30, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.crossingbridgefunds.com/riverpark-strategic-income-fund . You can also request this information by contacting us at 1-888-898-2780 . |
Additional Information Phone Number | 1-888-898-2780 |
Additional Information Website | https://www.crossingbridgefunds.com/riverpark-strategic-income-fund |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Retail Class $135 1.29% |
Expenses Paid, Amount | $ 135 |
Expense Ratio, Percent | 1.29% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? During this fiscal year, the Fund gained 9.48% on its Retail Class shares while the ICE BofA U.S. High Yield Total Return Index gained 15.66%, the ICE BofA U.S. Corporate Bond Index gained 14.13% and the ICE BofA 3-7 Year U.S. Treasury Index gained 9.07%. The Bloomberg U.S. Aggregate Bond Index, the Fund’s broad based securities market index, gained 11.57% over the same period. Monthly investment results for the fiscal year for the Retail Class shares ranged from 0.15% in April 2024 to 1.50% in December 2023. The Retail Class shares generated positive returns all twelve months during the fiscal year. For the Retail Class shares, the median monthly return for the fiscal year was 0.76% with an annualized standard deviation of 5.03%. The Fund had positive contributions from interest income and had realized losses and unrealized gains during the fiscal year. 100% of the income was distributed for a 1-year dividend yield of 7.36% for Retail Class shares. For the Retail Class shares, the subsidized 30-day SEC yield was 7.81% and unsubsidized 30-day SEC yield was 7.81%. For the Retail Class shares, the total return for the fiscal year was positive. The Retail Class shares NAV increased from $8.56 on September 30, 2023 to $8.71 on September 30, 2024, while also distributing $0.63 in income during the fiscal year. As we have made reference to in all four CrossingBridge quarterly commentaries we published this past fiscal year (available on our website), credit spreads, both investment grade and high yield, have continued grinding tighter, recently hitting their tightest levels in 15 years. Even in the face of tight credit spreads and a highly uncertain interest rate market, we remain opportunistic and continue to pursue four main themes: 1) Floating rate debt – continuing to take advantage of the inverted yield curve 2) Foreign issuers – better credit characteristics with higher yields than U.S. counterparts 3) Event-driven debt – catalysts hold potential for higher rates of return 4) Higher credit quality issuers – leaning into investment grade opportunities With this backdrop, throughout the fiscal year we had remained (and continue to remain) more defensively positioned, aiming to maintain attractive yields while leaning more toward investment grade debt. At the same time, we have maintained low durations and continue holding significant “dry powder” (cash/cash equivalents/pre-merger SPACs/maturities of 90 days or less) to 1) help protect capital while generating what we believe to be relatively attractive yields with the inverted yield curve, and 2) take advantage of opportunities as they arise. As of September 30, 2024, the Fund’s net assets were weighted by category as follows: 13.8% in Short Term Securities, 25.9% in Buy & Hold (“Money Good”), 6.2% in Priority Based (“Above the Fray”), 8.7% in (“Off the Beaten Path”), 27.0% in Interest Rate Resets (Floating Rate Debt, Cushion Bonds), 6.6% in Asset Backed Securities (ABS), 2.1% in Stressed, 1.2% in Distressed, 0.3% in Equity, -1.9% in Hedges, with the remaining 10.1% in cash and cash equivalents. Terms used such as “Money Good”, “Off the Beaten Path”, and “Above the Fray” are internal terms used by the Adviser to categorize certain investments.” Money Good are securities that CrossingBridge believes hold limited credit risk and provide above market yields. Off the Beaten Path are securities that may be smaller issues, not widely followed issuers, or less liquid. Above the Fray are securities of issuers experiencing industry and/or credit stress, with restructuring a distinct longer-term possibility. |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. |
Line Graph [Table Text Block] | |
Average Annual Return [Table Text Block] | ANNUAL AVERAGE TOTAL RETURN (%) 1 Year 5 Year 10 Year Retail Class 9.48 5.34 3.97 Bloomberg U.S. Aggregate Bond Index 11.57 0.33 1.84 ICE BofA U.S. High Yield Total Return Index 15.66 4.55 4.95 ICE BofA 3-7 Year U.S. Treasury Index 9.07 0.64 1.61 ICE BofA U.S. Corporate Bond Index 14.13 1.29 2.96 |
No Deduction of Taxes [Text Block] | The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Visit https://www.crossingbridgefunds.com/riverpark-strategic-income-fund for more recent performance information. Visit https://www.crossingbridgefunds.com/riverpark-strategic-income-fund for recent performance information. |
Net Assets | $ 503,670,897 |
Holdings Count | $ / shares | 127 |
Advisory Fees Paid, Amount | $ 2,713,125 |
Investment Company Portfolio Turnover | 116.98% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of September 30, 2024) Net Assets $503,670,897 Number of Holdings 127 Net Advisory Fee $2,713,125 Portfolio Turnover 116.98% |
Holdings [Text Block] | Top 10 Issuers First American Treasury Obligations Fund 4.4% Connect Finco SARL 3.7% Ford Motor Credit Co. LLC 2.6% Forum Energy Technologies, Inc. 2.6% First American Government Obligations Fund 2.5% Bell Telephone Company of Canada 2.4% United States Treasury Note/Bond 2.4% Mangrove Luxco III Sarl 2.3% Icahn Enterprises LP 2.2% Expedia Group, Inc. 2.2% Security Type Corporate Bonds 46.7% Bank Loans 19.6% Commercial Paper 7.1% Money Market Funds 6.8% Mortgage-Backed Securities 5.1% Convertible Bonds 4.6% U.S. Treasury Securities 3.6% Asset-Backed Securities 1.5% Common Stocks 1.5% Other 3.5% |
Updated Prospectus Web Address | https://www.crossingbridgefunds.com/riverpark-strategic-income-fund |
Institutional Class | |
Shareholder Report [Line Items] | |
Fund Name | Riverpark Strategic Income Fund |
Class Name | Institutional Class |
Trading Symbol | RSIIX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the Riverpark Strategic Income Fund (the “Fund”) for the period of October 1, 2023 to September 30, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.crossingbridgefunds.com/riverpark-strategic-income-fund . You can also request this information by contacting us at 1-888-898-2780 . |
Additional Information Phone Number | 1-888-898-2780 |
Additional Information Website | https://www.crossingbridgefunds.com/riverpark-strategic-income-fund |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Institutional Class $110 1.05% |
Expenses Paid, Amount | $ 110 |
Expense Ratio, Percent | 1.05% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? During this fiscal year, the Fund gained 9.76% on its Institutional Class shares while the ICE BofA U.S. High Yield Total Return Index gained 15.66%, the ICE BofA U.S. Corporate Bond Index gained 14.13% and the ICE BofA 3-7 Year U.S. Treasury Index gained 9.07%. The Bloomberg U.S. Aggregate Bond Index, the Fund’s broad based securities market index, gained 11.57% over the same period. Monthly investment results for the fiscal year for the Institutional Class shares ranged from 0.17% in April 2024 to 1.52% in December 2023. The Institutional Class shares generated positive returns all twelve months during the fiscal year. For the Institutional Class shares, the median monthly return for the fiscal year was 0.79% with an annualized standard deviation of 5.03%. The Fund had positive contributions from interest income and had realized losses and unrealized gains during the fiscal year. 100% of the income was distributed for a 1-year dividend yield of 7.85% for the Institutional Class shares. For the Institutional Class shares, the subsidized 30-day SEC yield was 8.06% and unsubsidized 30-day SEC yield was 8.06%. For the Institutional Class shares, the total return for the fiscal year was positive. The Institutional Class shares NAV increased from $8.54 on September 30, 2023 to $8.67 on September 30, 2024, while also distributing $0.67 in income during the fiscal year. As we have made reference to in all four CrossingBridge quarterly commentaries we published this past fiscal year (available on our website), credit spreads, both investment grade and high yield, have continued grinding tighter, recently hitting their tightest levels in 15 years. Even in the face of tight credit spreads and a highly uncertain interest rate market, we remain opportunistic and continue to pursue four main themes: 1) Floating rate debt – continuing to take advantage of the inverted yield curve 2) Foreign issuers – better credit characteristics with higher yields than U.S. counterparts 3) Event-driven debt – catalysts hold potential for higher rates of return 4) Higher credit quality issuers – leaning into investment grade opportunities With this backdrop, throughout the fiscal year we had remained (and continue to remain) more defensively positioned, aiming to maintain attractive yields while leaning more toward investment grade debt. At the same time, we have maintained low durations and continue holding significant “dry powder” (cash/cash equivalents/pre-merger SPACs/maturities of 90 days or less) to 1) help protect capital while generating what we believe to be relatively attractive yields with the inverted yield curve, and 2) take advantage of opportunities as they arise. As of September 30, 2024, the Fund’s net assets were weighted by category as follows: 13.8% in Short Term Securities, 25.9% in Buy & Hold (“Money Good”), 6.2% in Priority Based (“Above the Fray”), 8.7% in (“Off the Beaten Path”), 27.0% in Interest Rate Resets (Floating Rate Debt, Cushion Bonds), 6.6% in Asset Backed Securities (ABS), 2.1% in Stressed, 1.2% in Distressed, 0.3% in Equity, -1.9% in Hedges, with the remaining 10.1% in cash and cash equivalents. Terms used such as “Money Good”, “Off the Beaten Path”, and “Above the Fray” are internal terms used by the Adviser to categorize certain investments.” Money Good are securities that CrossingBridge believes hold limited credit risk and provide above market yields. Off the Beaten Path are securities that may be smaller issues, not widely followed issuers, or less liquid. Above the Fray are securities of issuers experiencing industry and/or credit stress, with restructuring a distinct longer-term possibility. |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. |
Line Graph [Table Text Block] | |
Average Annual Return [Table Text Block] | ANNUAL AVERAGE TOTAL RETURN (%) 1 Year 5 Year 10 Year Institutional Class 9.76 5.55 4.22 Bloomberg U.S. Aggregate Bond Index 11.57 0.33 1.84 ICE BofA U.S. High Yield Total Return Index 15.66 4.55 4.95 ICE BofA 3-7 Year U.S. Treasury Index 9.07 0.64 1.61 ICE BofA U.S. Corporate Bond Index 14.13 1.29 2.96 |
No Deduction of Taxes [Text Block] | The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Visit https://www.crossingbridgefunds.com/riverpark-strategic-income-fund for more recent performance information. Visit https://www.crossingbridgefunds.com/riverpark-strategic-income-fund for recent performance information. |
Net Assets | $ 503,670,897 |
Holdings Count | $ / shares | 127 |
Advisory Fees Paid, Amount | $ 2,713,125 |
Investment Company Portfolio Turnover | 116.98% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of September 30, 2024) Net Assets $503,670,897 Number of Holdings 127 Net Advisory Fee $2,713,125 Portfolio Turnover 116.98% |
Holdings [Text Block] | Top 10 Issuers First American Treasury Obligations Fund 4.4% Connect Finco SARL 3.7% Ford Motor Credit Co. LLC 2.6% Forum Energy Technologies, Inc. 2.6% First American Government Obligations Fund 2.5% Bell Telephone Company of Canada 2.4% United States Treasury Note/Bond 2.4% Mangrove Luxco III Sarl 2.3% Icahn Enterprises LP 2.2% Expedia Group, Inc. 2.2% Security Type Corporate Bonds 46.7% Bank Loans 19.6% Commercial Paper 7.1% Money Market Funds 6.8% Mortgage-Backed Securities 5.1% Convertible Bonds 4.6% U.S. Treasury Securities 3.6% Asset-Backed Securities 1.5% Common Stocks 1.5% Other 3.5% |
Updated Prospectus Web Address | https://www.crossingbridgefunds.com/riverpark-strategic-income-fund |