Last week, the Board of Trustees of Trust for Professional Managers approved a reorganization of the Marketfield Fund, an equity and fixed income long/short mutual fund, into the MainStay Marketfield Fund, a newly created series of MainStay Funds Trust.

After the reorg, which is expected to take place on October 5, New York Life Investment Management LLC will serve as investment adviser for the new Fund and Marketfield Asset Management, LLC will serve as sub-adviser for fund.

Michael C. Aronstein, chief executive officer of Marketfield, has managed the fund since inception in July 2007. It sports a net expense ratio of 156 basis points.

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