AATIX Fees and Costs — Ancora/Thelen Small-Mid Cap Fund, Class I
Data updated: 2026-08-28
The net expense ratio is 1.20%: a 1.00% management fee plus 0.20% other expenses. This share class carries a redemption fee of 2.00%. In fiscal 2025 the fund paid $380K in broker commissions, 0.1874% of average net assets, and portfolio turnover was 95%.
AATIX Fees and Expenses
Annual operating expenses and sales charges of AATIX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.20% |
| Fee waiver | — |
| Net expense ratio | 1.20% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
AATIX Costs Over Time
On $10,000 invested in AATIX, assuming 5% a year before costs, total costs come to $861 over 5 years, cutting the return by 1.46% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.20%) | $126 | $392 | $676 |
| Trading costs (broker commissions) | $20 | $61 | $106 |
| Lost growth on money paid in costs | $0 | $22 | $79 |
| Total costs | $146 | $475 | $861 |
| Value after costs | $10,354 | $11,101 | $11,902 |
| Impact on return, per year | 1.46% | 1.46% | 1.46% |
AATIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1874%
- Total broker commissions: $380K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 95%
- Securities lending: none during the year
AATIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jonestrading Institutional Services LLC | $79K | 28.60% |
| Jefferies, LLC | $68K | 24.87% |
| BTIG, LLC | $23K | 8.19% |
| PIPER SANDLER & CO. | $21K | 7.67% |
| ROTH CAPITAL PARTNERS, LLC | $17K | 6.19% |
| CJS Securities, Inc. | $16K | 5.83% |
| GREAT PACIFIC SECURITIES | $14K | 5.04% |
| LIQUIDNET, INC. | $13K | 4.84% |
| SEAPORT GLOBAL SECURITIES LLC | $12K | 4.50% |
| D.A. Davidson & Co. | $12K | 4.26% |
Ancora/Thelen Small-Mid Cap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AATSX | Class S | 1.00% | none |
| AATIX | Class I | 1.20% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.