SCM TRUST
Shelton BDC Income Fund
Supplement dated July 26, 2019
to the Prospectus dated May 1, 2019
Effective as of the date above, the “Example of Expenses” table within the “Fees and Expenses of the Fund” section on page 3 of the Fund’s prospectus is hereby deleted and replaced in its entirety with the following:
Example of Expenses
This example is intended to help you compare the cost 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 then redeem all of your shares at the end of those periods. This example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
| 1 year | 3 years | 5 years | 10 years | |
| LOAIX | $1,000 | $2,928 | $4,638 | $8,121 |
| LOANX | $1,023 | $2,985 | $4,717 | $8,211 |
Please retain this supplement with your Prospectus