Liquidation: Manager Directed Portfolios

Form Type: 497

Filing Date: 2025-01-28

Corporate Action: Liquidation

Type: New

Accession Number: 000089418925000501

Filing Summary: The Board of Trustees of Manager Directed Portfolios has determined to close and liquidate the Mar Vista Strategic Growth Fund. The Fund will be closed to new purchases effective February 14, 2025, and will be liquidated by February 28, 2025. A Plan of Liquidation has been approved, which specifies that after the Closing Date, the Fund's assets may be invested in cash or cash equivalents. Distributions declared after the Closing Date will automatically reinvest unless a specific request is made for cash payment. Shareholders can redeem their shares until the Liquidation Date. If no redemption request is received by the Liquidation Date, shares will be redeemed automatically, and shareholders will receive proceeds from the fund's net assets after any liabilities are settled. The Advisor will cover all expenses related to the liquidation process.