AINIX Fees and Costs — Ariel International Fund, Institutional Class
Data updated: 2026-08-20
The net expense ratio is 0.88%: a 0.80% management fee plus 0.25% other expenses, less a 0.17% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $432K in broker commissions, 0.1812% of average net assets, and portfolio turnover was 89%.
AINIX Fees and Expenses
Annual operating expenses and sales charges of AINIX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.25% |
| Gross expense ratio | 1.05% |
| Fee waiver | −0.17% |
| Net expense ratio | 0.88% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
AINIX Costs Over Time
On $10,000 invested in AINIX, assuming 5% a year before costs, total costs come to $663 over 5 years, cutting the return by 1.11% 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 0.88%) | $92 | $288 | $499 |
| Trading costs (broker commissions) | $19 | $59 | $103 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $111 | $365 | $663 |
| Value after costs | $10,389 | $11,212 | $12,100 |
| Impact on return, per year | 1.11% | 1.11% | 1.11% |
AINIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1812%
- Total broker commissions: $432K
- Bought from dealers (principal trades, not a cost): $162.1M
- Portfolio turnover (prospectus): 89%
- Securities lending: none during the year
AINIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NOMURA SECURITIES INTERNATIONAL INC | $71K | 23.30% |
| CAPITAL INSTITUTIONAL SERVICES, INC. | $56K | 18.52% |
| TD Securities USA LLC | $38K | 12.63% |
| UBS SECURITIES LLC | $26K | 8.51% |
| Sanford C. Bernstein & Co. LLC | $25K | 8.18% |
| J.P. Morgan Securities LLC | $24K | 7.80% |
| BARCLAYS CAPITAL INC | $19K | 6.19% |
| Citigroup Global Markets Inc. | $16K | 5.18% |
| WR Securities, LLC | $15K | 4.90% |
| Goldman Sachs & Co LLC | $15K | 4.80% |
AINIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $162.1M | 100.00% |
Ariel International Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AINIX | Institutional Class | 0.88% | none |
| AINTX | Investor Class | 1.13% | 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.