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ck0001141819:C000216769Member 2021-01-01 2021-12-31 0001141819 ck0001141819:S000067414Member ck0001141819:C000216769Member 2022-01-01 2022-12-31 0001141819 ck0001141819:S000067414Member ck0001141819:C000216769Member 2023-01-01 2023-12-31 0001141819 ck0001141819:S000067414Member ck0001141819:C000216769Member 2024-01-01 2024-12-31 0001141819 ck0001141819:S000067414Member ck0001141819:C000216769Member 2025-01-01 2025-12-31 iso4217:USD pure 485BPOS 0001141819 false -0.0938 0.1580 0.1508 -0.0892 0.2633 0.1476 0.2768 -0.1578 0.1857 0.0941 -0.0254 0.2400 -0.1754 0.1698 0.1001 0.0994 2026-09-25 N-1A TRUST FOR PROFESSIONAL MANAGERS 2026-09-30 Jensen Quality Mid Cap Fund Jensen Global Quality Growth Fund Investment Objective <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The objective of the Jensen Quality Mid Cap Fund (the “Quality Mid Cap Fund” or the “Fund”) is long-term capital appreciation.</span></div> Fees and Expenses of the Fund <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.</span></div> Shareholder Fees(fees paid directly from your investment) 0 0 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0065 0.0065 0.0065 0.0025 0 0 0 0.0002 0 0.0024 0.0024 0.0024 0.0114 0.0091 0.0089 -0.0009 -0.0009 -0.0009 0.0105 0.0082 0.0080 March 1, 2028 Example This Example is intended to help you compare the costs of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and either redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The operating expense limitation agreement discussed above is reflected only through March 1, 2028. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 107 107 353 353 619 619 1378 1378 84 84 281 281 495 495 1111 1111 82 82 275 275 484 484 1088 1088 Portfolio Turnover <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may generate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These transaction costs, and potentially higher taxes, which are not reflected in the Total Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the fiscal year ended May 31, 2026, the Fund’s portfolio turnover rate was 29% of the average value of its portfolio.</span></div> 0.29 Principal Investment Strategies <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s investment strategy seeks to identify companies the Adviser deems to be undervalued. To achieve its objective of long-term capital appreciation, the Fund invests in equity securities of companies that satisfy the investment criteria described below. Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowing for investment purposes) in equity securities of companies meeting the criteria for “quality” and “mid-capitalization” as determined by the Adviser. The Adviser considers a company to be a “mid-capitalization” company if it is listed in the MSCI U.S. Mid Cap 450 Index at the time that the Adviser creates the Fund’s investable universe. The Adviser considers a company to be a “quality” company if it possesses competitive advantages as evidenced by generating a return on equity of 15% or greater for at least ten consecutive fiscal years as determined by the Adviser. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Adviser determines the companies that qualify for inclusion in the Fund’s investable universe on at least an annual basis. These companies are selected from a universe of publicly traded U.S. companies that, as determined by the Adviser, have produced long-term records of consistently high returns on shareholder equity. In order to qualify for this universe, each company must meet the </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adviser’s definitions of “mid-capitalization” and “quality”, and may include companies with negative equity resulting from debt-financing of large share repurchases. These companies may have unique risk profiles depending on the amount of debt incurred relative to the company’s ability to repay that debt.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equity securities in which the Fund may invest as a principal strategy consist primarily of common stocks of mid-cap U.S. companies. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s investment strategy is based on applying fundamental analysis and valuation models to this select universe of companies in order to identify investment opportunities. Fundamental analysis includes assessment of the company’s industry, strategy, competitive advantages, business segments, geographic distribution, growth and profitability, financial statements (income statement, cash flow statement, balance sheet), and the company’s other financial reports. The valuation models are rooted in fundamentals-based investment principles and include discounted cash flow models (for example, determining the present value of expected future cash flows), relative valuation methods (for example, a company’s valuation relative to its own history, its industry peers, or the broader stock market), and ratio methods (for example, a company’s price-to-earnings ratios).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may sell all or part of its position in a company when the Adviser has determined that another qualifying security has a greater opportunity to achieve the Fund’s objective. In addition, the Fund generally sells its position in a company when the company no longer meets one or more of the Fund’s investment criteria described above for inclusion in the universe of companies in which the Fund may invest. In the event that the company no longer satisfies the investment criteria and the failure is due to an extraordinary situation that the Adviser believes will not have a material adverse impact on the company’s operating performance, the Fund may continue to hold and invest in the company. Examples of such extraordinary situations include a significant acquisition, divestiture, or accounting rule change that results in a significant change to a company’s equity balance and a non-meaningful return on equity number.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Adviser expects to include in the Fund’s investment portfolio at any time securities of approximately 30 to 50 primarily domestic companies. The Fund must always own the securities of a minimum of 25 different companies in its portfolio. The Fund strives to be fully invested at all times in publicly traded common stocks and other eligible equity securities issued by companies that meet the investment criteria described in this Prospectus. </span></div>A significant portion of the Fund’s portfolio may be invested in the equity securities of companies comprising one or more industry sectors (e.g., industrial sector) and such sectors favored by the Adviser will change during certain market environments. Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowing for investment purposes) in equity securities of companies meeting the criteria for “quality” and “mid-capitalization” as determined by the Adviser. Remember, in addition to possibly not achieving your investment goals, you could lose money by investing in the Fund. <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Stock Market Risk</span><div style="padding-left:18pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The market value of stocks held by the Fund may decline over a short, or even an extended period of time, resulting in a decrease in the value of a shareholder’s investment.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Management Risk</span><div style="padding-left:18pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The investment process used by the Adviser, including the Adviser’s valuation models, to select securities for the Fund’s investment portfolio may not prove effective, and the Adviser’s judgments about the attractiveness, value and potential appreciation of the Fund’s investments may prove to be incorrect in that the investments chosen by the Adviser may not perform as anticipated. Certain risks are inherent in the ownership of any security, and there is no assurance that the Fund’s investment objective will be achieved.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">General Market Risk</span><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain securities selected for the Fund’s portfolio may be worth less than the price originally paid for them, or less than they were worth at an earlier time.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Recent Market Events Risk</span>U.S. and international markets have experienced and may continue to experience significant periods of volatility in recent years and months due to a number of economic, political and global macro factors including uncertainty regarding inflation and central banks’ interest rate changes, the possibility of a national or global recession, trade tensions and tariffs, political events and geopolitical conflicts. As a result of continuing political tensions and armed conflicts, including the wars in Europe and the Middle East, markets have experienced increased volatility. Continuing market volatility as a result of recent market conditions or other events may have an adverse effect on the performance of the Fund. Company and Sector Risk<div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s investment strategy requires that a company selected for investment must, among other criteria and in the determination of the Adviser, have attained a return on equity of 15% or greater for at least ten consecutive fiscal years. Due to the relatively limited number of companies that meet this investment criteria and thereby qualify for investment consideration, at times the Fund is prohibited from investing in certain companies and sectors that are experiencing strong market appreciation, but have not attained the high level of consistent, long-term business performance that is required for investment consideration by the Fund. As a result, the Fund’s performance may trail the overall market over a short or extended period of time compared to what its performance may have been if the Fund was able to invest in such rapidly growing, non-qualifying companies.</span></div><div style="padding-left:18pt;text-align:justify"><span><br/></span></div><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further, a significant portion of the Fund’s portfolio may be invested in the equity securities of companies comprising one or </span></div><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">more industry sectors and such sectors favored by the Adviser will change during certain market environments. As of the Fund’s most recent fiscal year end, a significant portion of the Fund’s portfolio was invested in the following sector:</span></div><div style="padding-left:18pt;text-align:justify"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">◦</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.59pt">Industrials Sector Risk. </span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent that the Fund invests a significant portion of its assets in the industrials sector, the Fund will be sensitive to changes in, and its performance will depend to a greater extent on, the overall condition of the industrials sector. The industrials sector may be significantly affected by general economic trends, including such factors as import controls, commodity prices, and worldwide competition.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.59pt">Industrials Sector Risk. </span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent that the Fund invests a significant portion of its assets in the industrials sector, the Fund will be sensitive to changes in, and its performance will depend to a greater extent on, the overall condition of the industrials sector. The industrials sector may be significantly affected by general economic trends, including such factors as import controls, commodity prices, and worldwide competition.</span> Mid-Capitalization Company Risk<div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The Fund may invest substantially all of its assets in the stocks of mid-cap companies. Mid-cap companies may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, these mid-cap companies may pose additional risks, including liquidity risk, because these companies may have limited product lines, markets and financial resources, and may depend upon a relatively small management group. Therefore, mid-cap stocks may be more volatile than those of larger companies.</span></div> Regulatory Risk <div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Legal, tax and regulatory changes could occur that may </span></div><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">adversely affect the Fund’s ability to pursue its investment strategies and/or increase the costs of implementing such strategies.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Competitive Risk</span><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Individual companies may report poor results or be negatively affected by industry and/or economic trends and developments.</span></div> Performance <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The performance information below demonstrates the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual total returns for the one year, five year, ten year and since inception periods compare with those of a broad measure of market performance and a second more narrowly tailored index. The Fund’s past performance information, both before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available on the Fund’s website at www.jenseninvestment.com, or by calling the Fund toll-free at 800-992-4144.</span></div> The performance information below demonstrates the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual total returns for the one year, five year, ten year and since inception periods compare with those of a broad measure of market performance and a second more narrowly tailored index. The performance information below demonstrates the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual total returns for the one year, five year, ten year and since inception periods compare with those of a broad measure of market performance and a second more narrowly tailored index. The Fund’s past performance information, both before and after taxes, is not necessarily an indication of how the Fund will perform in the future. www.jenseninvestment.com 800-992-4144 Jensen Quality Mid Cap Fund - Class J Shares1Calendar Year Returns as of December 31 <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:15.7pt">The returns in the bar chart are for the Class J shares. Class I and Class Y shares would have substantially similar annual returns as Class J shares because the shares are invested in the same portfolio of securities and the annual returns would differ only to the extent that the classes have different expenses.</span> <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s calendar year-to-date return for Class J shares as of June 30, 2026 was -0.32%. During the period of time shown in the bar chart, the Fund’s highest quarterly return for Class J shares was 21.16% for the quarter ended June 30, 2020, and the lowest quarterly return for Class J shares was -23.33% for the quarter ended March 31, 2020.</span></div> year-to-date return 2026-06-30 -0.0032 highest quarterly return 0.2116 2020-06-30 lowest quarterly return -0.2333 2020-03-31 Average Annual Total ReturnsFor the Periods EndedDecember 31, 2025 2010-03-31 2010-03-31 2010-03-31 Return Before Taxes -0.0254 0.0634 0.0912 0.0898 Return After Taxes on Distributions -0.0489 0.0524 0.0810 0.0754 Return After Taxes on Distributions and Sale of Fund Shares 0.0019 0.0493 0.0730 0.0705 Return Before Taxes -0.0237 0.0657 0.0936 0.0920 Return Before Taxes -0.0230 0.0661 0.0939 0.0922 MSCI U.S. Mid Cap 450 Index(reflects no deductions for fees, expenses, or taxes) 0.1127 0.0899 0.1159 0.1212 MSCI U.S. Investable Market 2500 Index(reflects no deductions for fees, expenses, or taxes) (reflects no deductions for fees, expenses, or taxes) 0.1722 0.1330 0.1437 0.1369 <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Class Y shares commenced operations on January 15, 2020. Performance shown for Class Y shares prior to their inception (for the ten year and since inception columns) reflects the performance of the Class I shares, adjusted to reflect Class Y expenses.</span> <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on each investor’s individual tax situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred or other tax-advantaged arrangements such as 401(k) plans or individual retirement accounts (“IRAs”). After-tax returns are shown for the Class J shares only and after-tax returns for the Class I and Class Y shares will vary.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax benefit to the investor.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred or other tax-advantaged arrangements such as 401(k) plans or individual retirement accounts (“IRAs”). After-tax returns are shown for the Class J shares only and after-tax returns for the Class I and Class Y shares will vary. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax benefit to the investor. Investment Objective <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The objective of the Jensen Global Quality Growth Fund (the “Global Quality Growth Fund” or the “Fund”) is long-term capital appreciation.</span></div> Fees and Expenses of the Fund <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.</span></div> Shareholder Fees(fees paid directly from your investment) 0 0 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0075 0.0075 0.0075 0.0025 0 0 0 0.0002 0 0.0038 0.0038 0.0038 0.0138 0.0115 0.0113 -0.0013 -0.0013 -0.0013 0.0125 0.0102 0.0100 March 1, 2028 Example This Example is intended to help you compare the costs of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and either redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund operating expenses remain the same. The operating expense limitation agreement discussed above is reflected only through March 1, 2028. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 127 127 424 424 743 743 1646 1646 104 104 352 352 620 620 1386 1386 102 102 346 346 610 610 1363 1363 Portfolio Turnover <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may generate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These transaction costs, and potentially higher taxes, which are not reflected in the Total Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the fiscal year ended May 31, 2026, the Fund's portfolio turnover rate was 32% of the average value of its portfolio.</span></div> 0.32 Principal Investment Strategies <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s approach to investing focuses on companies determined by the Adviser to have a record of achieving a high level of business performance over the long term and which are, in the opinion of the Adviser, well positioned to maintain competitive advantages and continued high returns on equity and free cash flow. Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in U.S. and foreign equity securities of companies meeting the criteria for quality and growth as determined by the Adviser. The Adviser considers a company to be a “growth” company if it is determined by the Adviser to have above-average potential for growth in revenue, earnings, or cash flow. Additionally, the Adviser seeks companies that display positive performance in a variety of historical and future performance measurements, relative to the overall U.S. equity market, over a period of time. Examples of such characteristics include:</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.    Projected earnings growth based on expected five- to ten-year annual increase in operating earnings per share.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.    Trailing revenue growth based on annualized revenue growth for </span></div><div style="display:inline-block;vertical-align:top;width:46.666%"><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the previous five to ten years.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.    Trailing earnings growth based on annualized earnings per share growth for the previous five to ten years.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.    The company’s ability to grow its business from free cash flow over an extended period of time.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The list above is not exclusive and there is no single factor that is determinative of whether the Adviser considers a company to be a “growth” company. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Adviser considers a company to be a “quality” company if it possesses competitive advantages as evidenced by generating a return on equity of 15% or greater for at least ten consecutive fiscal years as determined by the Adviser.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund will invest in equity securities of approximately 25 to 40 U.S. and foreign companies that satisfy the Adviser’s investment criteria of “growth” and “quality”. Equity securities in which the Fund invests as a principal strategy consist of publicly traded companies around the world, including securities issued by corporations located in developing or emerging markets. Generally, each company in which the Fund invests must, as determined by the Adviser: (1) have consistently achieved a high return on equity over the prior ten fiscal years; (2) be in excellent financial condition; and (3) be capable of sustaining outstanding business performance. The Adviser determines on an annual basis the companies that qualify for inclusion in the Fund’s investable universe. These companies are selected from a universe of companies that, as determined by the Adviser, have produced long-term records of consistently high returns on shareholder equity. In order to qualify for this universe, each company must have a market capitalization of $1 billion or more.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund must always own the securities of a minimum of 15 different companies in its portfolio. The Fund strives to essentially be fully invested at all times in publicly traded common stocks and other eligible equity securities issued by companies that meet the investment criteria described in this Prospectus. The Fund’s investments in other eligible equity securities may include depositary receipts, such as American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”), Global Depositary Receipts (“GDRs”), or other forms of depositary receipts. The Fund typically invests in securities of issuers from at least three or more countries, including the United States, with at least 40% of the Fund’s net assets in foreign securities. In making a determination of whether an issuer will be classified as “domestic” or “foreign,” the Adviser will generally look to the location of the issuer’s primary stock listing and/or regulatory filings. However, in some cases, it may consider other factors, such as the location of the issuer’s headquarters and senior management.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may purchase securities when they are priced below their full values as determined by the Adviser. The Fund may sell all or part of its position in a company when the Adviser has determined that another qualifying security has a greater opportunity to achieve the Fund’s objective. In addition, the Fund generally sells its position in a company when the company no longer meets one or more of the Fund’s investment criteria. In the event that the company no longer </span></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">satisfies the investment criteria and the failure is due to an extraordinary situation that the Adviser believes will not have a material adverse impact on the company’s operating performance, the Fund may continue to hold and invest in the company.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A significant portion of the Fund’s portfolio may be invested in the equity securities of companies comprising one or more industry sectors (e.g., information technology sector) and such sectors favored by the Adviser will change during certain market environments. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund is non-diversified, which means that a relatively high percentage of its assets may be invested in a limited number of securities.</span></div> Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in U.S. and foreign equity securities of companies meeting the criteria for quality and growth as determined by the Adviser. Remember, in addition to possibly not achieving your investment goals, <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:700;line-height:120%">you could lose money by investing in the Fund</span>. Stock Market Risk<div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The market value of stocks held by the Fund may decline over a short, or even an extended period of time, resulting in a decrease in the value of a shareholder’s investment.</span></div> Management Risk<div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The investment process used by the Adviser, including the Adviser’s valuation models, to select securities for the Fund’s investment portfolio may not prove effective, and the Adviser’s judgments about the attractiveness, value and potential appreciation of the Fund’s investments may prove to be incorrect in that the investments chosen by the Adviser may not perform as anticipated. Certain risks are inherent in the ownership of any security, and there is no assurance that the Fund’s investment objective will be achieved.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">General Market Risk</span><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain securities selected for the Fund’s portfolio may be worth less than the price originally paid for them, or less than they were worth at an earlier time.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Recent Market Events Risk</span>U.S. and international markets have experienced and may continue to experience significant periods of volatility in recent years and months due to a number of economic, political and global macro factors including uncertainty regarding inflation and central banks’ interest rate changes, the possibility of a national or global recession, trade tensions and tariffs, political events and geopolitical conflicts. As a result of continuing political tensions and armed conflicts, including the wars in Europe and the Middle East, markets have experienced increased volatility. Continuing market volatility as a result of recent market conditions or other events may have an adverse effect on the performance of the Fund. Company and Sector Risk<div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s investment strategy requires that a company selected for investment must, among other criteria and in the determination of the Adviser, have attained a return on equity of 15% or greater for at least ten consecutive fiscal years. Due to the relatively limited number of companies that meet this investment criteria and thereby qualify for investment consideration, at times the Fund is prohibited from investing in certain companies and sectors that are experiencing strong market appreciation, but have not attained the high level of consistent, long-term business performance that is required for investment consideration by the Fund. As a result, the Fund’s performance may trail the overall market over a short or extended period of time compared to what its performance may have been if the Fund was able to invest in such rapidly growing, non-qualifying companies.</span></div><div style="padding-left:18pt;text-align:justify"><span><br/></span></div><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further, a significant portion of the Fund’s portfolio may be invested in the equity securities of companies comprising one or more industry sectors and such sectors favored by the Adviser will change during certain market environments. As of the Fund’s most recent fiscal year end, a significant portion of the Fund’s portfolio was invested in the following sector:</span></div><div style="padding-left:18pt;text-align:justify"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Courier New',serif;font-size:10pt;font-weight:400;line-height:120%">◦</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:12pt">Information Technology Sector Risk. </span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent the Fund invests a significant portion of its assets in the information technology sector, the Fund will be sensitive to changes in, and its performance will depend to a greater extent on, the overall condition of the information technology sector. Companies in the information technology sector and companies that rely heavily on technology are particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:12pt">Information Technology Sector Risk. </span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent the Fund invests a significant portion of its assets in the information technology sector, the Fund will be sensitive to changes in, and its performance will depend to a greater extent on, the overall condition of the information technology sector. Companies in the information technology sector and companies that rely heavily on technology are particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition.</span> Non-Diversification Risk<div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund is classified as a “non-diversified” investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). Therefore, the Fund may invest a relatively high percentage of its assets in a smaller number of issuers or may invest a larger proportion of its assets in the obligations of a single issuer. As a result, the gains and losses on a single investment may have a greater impact on the Fund’s net asset value (“NAV”) and may make the Fund more volatile than more diversified funds.</span></div> Foreign Securities and Currency Risk<div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-U.S. securities are subject to risks relating to political, social and economic developments abroad and differences between U.S. and foreign regulatory requirements and market practices, including fluctuations in foreign currencies. A change in the value of a foreign currency against the U.S. dollar will result in a corresponding change in value of securities denominated in that currency. Issuers of foreign securities may </span></div><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">not be required to provide operational or financial information that is as timely or reliable as those required for issuers of U.S. securities. The income or dividends earned on foreign securities may be subject to foreign withholding taxes. The securities of foreign companies are frequently denominated in foreign currencies. To the extent that a market is closed while the markets for the underlying currencies remain open, certain markets may not always reflect significant price and rate movements.</span></div> <div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Foreign companies also may be subject to significantly higher levels of taxation than U.S. companies, including potentially confiscatory levels of taxation, thereby reducing the earnings potential of such foreign companies. Amounts realized on sales of or distributions with respect to foreign securities may be subject to high and potentially confiscatory levels of foreign taxation and withholding when compared to comparable transactions in U.S. securities. For certain countries, the Fund will accrue for this potential expense, which will reduce its net asset value.</span></div> Emerging Markets Risk<div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Countries in emerging markets are generally more volatile and can have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues. Emerging market securities may be subject to relatively more abrupt and severe price declines due to the smaller securities markets, lower trading volumes and less government regulation of securities markets in emerging market countries compared to those in developed countries. Investments in emerging market securities generally are more illiquid and volatile and subject to a higher risk of settlement disruptions than investments in securities of issuers in developed countries.</span></div> Large-Capitalization Company Risk<div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Larger, more established companies may be unable to respond quickly to new competitive challenges such as changes in consumer tastes or innovative smaller competitors. Also, large-capitalization companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. The Adviser considers companies with market capitalizations in excess of $10 billion to be large-capitalization companies.</span></div> Growth Stock Risk<div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The prices of growth stocks may be more sensitive to changes in current or expected earnings than the prices of other stocks and may be out of favor with investors at different periods of time. Compared to value stocks, growth stocks may experience larger price swings.</span></div> Depositary Receipts Risk<div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Investments in depositary receipts may entail the special risks of foreign investing, including currency exchange fluctuations, </span></div><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">government regulations, and the potential for political and economic instability.</span></div> Regulatory Risk <div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Legal, tax and regulatory changes could occur that may adversely affect the Fund’s ability to pursue its investment strategies and/or increase the costs of implementing such strategies.</span></div> Competitive Risk<span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span>Individual companies may report poor results or be negatively affected by industry and/or economic trends and developments. Performance <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The performance information below demonstrates the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual total returns for the one year, five year and since inception periods compare with those of a broad measure of market performance. The Fund’s past performance information, both before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available on the Fund’s website at www.jenseninvestment.com, or by calling the Fund toll-free at 800-992-4144.</span></div> The performance information below demonstrates the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual total returns for the one year, five year and since inception periods compare with those of a broad measure of market performance. The Fund’s past performance information, both before and after taxes, is not necessarily an indication of how the Fund will perform in the future. www.jenseninvestment.com 800-992-4144 Jensen Global Quality Growth Fund - Class J Shares1Calendar Year Returns as of December 31 <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:15.7pt">The returns in the bar chart are for the Class J shares. Class I and Class Y shares would have substantially similar annual returns as Class J shares because the shares are invested in the same portfolio of securities and the annual returns would differ only to the extent that the classes have different expenses.</span> <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s calendar year-to-date return for Class J shares as of June 30, 2026 was 5.76%. During the period of time shown in the bar chart, the Fund’s highest quarterly return for Class J shares was 11.67% for the quarter ended December 31, 2021, and the lowest quarterly return for Class J shares was -12.77% for the quarter ended June 30, 2022.</span></div> year-to-date return 2026-06-30 0.0576 highest quarterly return 0.1167 2021-12-31 lowest quarterly return -0.1277 2022-06-30 Average Annual Total ReturnsFor the Periods EndedDecember 31, 2025 2020-04-15 2020-04-15 2020-04-15 Return Before Taxes 0.0994 0.0766 0.1175 Return After Taxes on Distributions 0.0994 0.0760 0.1168 Return After Taxes on Distributions and Sale of Fund Shares 0.0588 0.0602 0.0944 Return Before Taxes 0.1019 0.0790 0.1200 Return Before Taxes 0.1020 0.0793 0.1203 MSCI All Country World Index(reflects no deductions for fees, expenses, or taxes) (reflects no deductions for fees, expenses, or taxes) 0.2234 0.1119 0.1637 <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on each investor’s individual tax situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred or other tax-advantaged arrangements such as 401(k) plans or individual retirement accounts (“IRAs”). After-tax returns are shown for the Class J shares only and after-tax returns for the Class I and Class Y shares will vary.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred or other tax-advantaged arrangements such as 401(k) plans or individual retirement accounts (“IRAs”). After-tax returns are shown for the Class J shares only and after-tax returns for the Class I and Class Y shares will vary. The Trust’s Board of Trustees (the “Board of Trustees”) has authorized a shareholder servicing plan fee in the amount of 0.10% of the Fund’s average daily net assets for Class I shares. Currently, the shareholder servicing plan fee being charged is 0.02% of the Fund’s average daily net assets for Class I shares; however, the fee may be increased to 0.10% of the Fund’s average daily net assets for Class I shares at any time. Pursuant to an operating expense limitation agreement between the Fund’s investment adviser, Jensen Investment Management, Inc. (the “Adviser”), and the Trust, on behalf of the Fund, the Adviser has agreed to waive its management fees and/or reimburse expenses of the Fund to ensure that Total Annual Fund Operating Expenses (exclusive of front-end or contingent deferred loads, Rule 12b-1 plan fees, shareholder servicing plan fees, interest (including interest incurred in connection with bank and custody overdrafts), acquired fund fees and expenses, leverage (i.e., any expenses incurred in connection with borrowings made by the Fund), tax expenses, dividends and interest on short positions, brokerage commissions, merger or reorganization expenses and extraordinary expenses), do not exceed 0.80% of the Fund’s average daily net assets through March 1, 2028. This operating expense limitation agreement can be terminated only by, or with the consent of, the Board of Trustees. The Adviser may request recoupment of previously waived fees and paid expenses from the Fund up to three years from the date such fees and expenses were waived or paid, subject to the operating expense limitation agreement, if such reimbursement will not cause the Fund’s Total Annual Operating Expenses (after the amount of the reimbursement is taken into account) to exceed the lesser of: (1) the expense limitation in place at the time of the waiver and/or expense payment; or (2) the expense limitation in place at the time of the recoupment. The returns in the bar chart are for the Class J shares. Class I and Class Y shares would have substantially similar annual returns as Class J shares because the shares are invested in the same portfolio of securities and the annual returns would differ only to the extent that the classes have different expenses. *Class Y shares commenced operations on January 15, 2020. Performance shown for Class Y shares prior to their inception (for the ten year and since inception columns) reflects the performance of the Class I shares, adjusted to reflect Class Y expenses. The Trust’s Board of Trustees (the “Board of Trustees”) has authorized a shareholder servicing plan fee in the amount of 0.10% of the Fund’s average daily net assets for Class I shares. Currently, the shareholder servicing plan fee being charged is 0.02% of the Fund's average daily net assets for Class I shares; however, the fee may be increased to 0.10% of the Fund's average daily net assets for Class I shares at any time. Pursuant to an operating expense limitation agreement between the Fund’s investment adviser, Jensen Investment Management, Inc. (the “Adviser”), and the Trust, on behalf of the Fund, the Adviser has agreed to waive its management fees and/or reimburse expenses of the Fund to ensure that Total Annual Fund Operating Expenses (exclusive of front-end or contingent deferred sales loads, Rule 12b-1 plan fees, shareholder servicing plan fees, interest (including interest incurred in connection with bank and custody overdrafts), acquired fund fees and expenses, leverage (i.e., any expenses incurred in connection with borrowings made by the Fund), tax expenses, dividends and interest on short positions, brokerage commissions, merger or reorganization expenses and extraordinary expenses), do not exceed 1.00% of the Fund’s average daily net assets through March 1, 2028. This operating expense limitation agreement can be terminated only by, or with the consent of, the Board of Trustees. The Adviser may request recoupment of previously waived fees and paid expenses from the Fund up to three years from the date such fees and expenses were waived or paid, subject to the operating expense limitation agreement, if such reimbursement will not cause the Fund’s Total Annual Fund Operating Expenses (after the amount of the reimbursement is taken into account) to exceed the lesser of: (1) the expense limitation in place at the time of the waiver and/or expense payment; or (2) the expense limitation in place at the time of the recoupment. The returns in the bar chart are for the Class J shares. Class I and Class Y shares would have substantially similar annual returns as Class J shares because the shares are invested in the same portfolio of securities and the annual returns would differ only to the extent that the classes have different expenses.