A clutch assembly for a transmission having a pressurized fluid source includes selectively engageable clutch plates including an apply plate. A piston is movable between an apply position and a release position to respectively engage or release the clutch plates. An apply plate cover cooperates with the apply plate to at least partially form an annular cavity that is sealed to contain pressurized fluid provided by the pressurized fluid source when the piston is moved to the apply position, thereby allowing pressurized fluid flow radially inward across the engaged clutch plates. The annular cavity is opened to allow fluid to empty therefrom when the piston is moved to the released position, thereby allowing centrifugally pumped fluid to flow radially outward across the released clutch plates. A method of reversing cooling fluid flow across clutch plates is also provided.