The folks at a nine-year-old, $2.3-billion-AUM, 14-person fixed income shop in Georgia (per a form ADV filed last week) are preparing to roll out their third mutual fund.

Today, the Holbrook Holdings, Inc. team filed to launch the Holbrook Total Return Fund. Atlanta-based Holbrook would serve as the new, actively managed, open end fund's investment advisor. The filing does not specify a planned launch date, but it does indicate that the Holbrook team plans to debut the fund this year, i.e. in 2025.

The filing indicates that the Holbrook team still has to choose at least one service provider for the planned fun; no independent accounting firm is listed.

Per the filing, the Holbrook team plans to offer three flavors: A shares (HOTAX), with up to 225 basis points in up-front load, 25bps in 12b-1 fees, and a minimum initial investment of $2,500; investor shares (HOTEX), with no load and a minimum initial investment of $2,500; and I shares (HOTIX), with no load and a minimum initial investment of $100,000. Total expense ratios and fee waivers (which would be promised through some time in 2027) are not listed, but all three share classes' expense ratios will bake in a 65bps management fee.

The PM team for Holbrook Total Return Fund will include: Scott Carmack, CEO and principal owner of Holbrook; Ethan Lai, portfolio manager; and Daniel Toomey, PM.

The Holbrook Total Return Fund will be a diversified series of the Two Roads Shared Trust. The planned fund's other service providers will include: Blank Rome LLP as counsel; U.S. Bank, N.A. as custodian; Ultimus Fund Solutions, LLC as dividend disbursing agent, shareholder servicing agent, and transfer agent; Ultimus' Northern Lights Compliance Services, LLC (NLCS) as chief compliance officer provider; and Ultimus' Northern Lights Distributors, LLC as distributor. 

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