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Miller Opportunity Trust to change name and manager change

TheShadowTheShadow
in Fund Discussions
https://www.sec.gov/Archives/edgar/data/1261788/000089418922009103/milleropportunitytrusttap-.htm

497 1 milleropportunitytrusttap-.htm 497E

Trust for Advised Portfolios
December 19, 2022
Supplement to the Miller Opportunity Trust
Prospectus and Statement of Additional Information
dated April 30, 2022

Effective December 19, 2022, the name of the Miller Opportunity Trust (the “Fund”) will be changed to Opportunity Trust. The name change does not affect the investment objective or principal investment strategies of the Fund. All references to Miller Opportunity Trust in the Fund’s Prospectus and Statement of Additional Information are deleted and replaced with the name Opportunity Trust.

Effective December 30, 2022, Mr. Bill Miller III will no longer serve as a Portfolio Manager to the Fund. All references to Mr. Miller in the Fund’s Prospectus and Statement of Additional Information are deleted in their entirety.

Ms. Samantha McLemore, CFA, will continue to serve as Portfolio Manager to the Fund.

Comments

  • CrashCrash
    retirement? He's been around since forever. It seems to me he lost his mojo or juju, years back.
  • MarkMark
    LMOPX has been an odd little fund often found cruising around at or near the top of its category or the very bottom. Maybe it's one of those funds that one plays the timing game with but that's not for me. I did own it when it first came out however but not since.
  • David_Snowball
    When it launched, we referred to it as "Mr. Miller's retirement present from Legg Mason."

    He's collecting a 0.77% management fee on $1.1 billion in a fund that - per Morningstar - is in the 100th percentile for the past week.

    Month.

    Quarterly.

    Year.

    Three years.

    Five years.

    Fifteen years.

    - - - - -

    The key is the "alpha or omega" performance that Mark alludes to. The fund trails only 84% of its peers over the past decade buoyed by top tier performance in five of those years and anchored by three dead last years.
  • Baseball_Fan
    "Where are the customers' yachts"

    I seem to recall Mr Miller was touting that Amazon was 50% of his investible net worth and he as big on Bitcoin as well several months ago....but I don't think he is wondering how he is going to afford groceries next week either.
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