AISCX Fees and Costs — Acuitas International Small Cap Fund, Institutional Shares
Data updated: 2020-09-11
The net expense ratio is 1.50%: a 1.20% management fee plus 1.23% other expenses, less a 0.93% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2020 the fund paid $2K in broker commissions, 0.2202% of average net assets, and portfolio turnover was 105%.
AISCX Fees and Expenses
Annual operating expenses and sales charges of AISCX. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.23% |
| Gross expense ratio | 2.43% |
| Fee waiver | −0.93% |
| Net expense ratio | 1.50% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
AISCX Costs Over Time
On $10,000 invested in AISCX, assuming 5% a year before costs, total costs come to $1,061 over 5 years, cutting the return by 1.81% 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 1.50%) | $158 | $488 | $839 |
| Trading costs (broker commissions) | $23 | $72 | $123 |
| Lost growth on money paid in costs | $0 | $28 | $98 |
| Total costs | $181 | $587 | $1,061 |
| Value after costs | $10,319 | $10,989 | $11,702 |
| Impact on return, per year | 1.81% | 1.81% | 1.81% |
AISCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.2202%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 105%
- Securities lending: none during the year
AISCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MACQUARIE CAPITAL (USA) INC. | $373 | 21.22% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $325 | 18.47% |
| SOCIETE GENERALE SECURITIES | $296 | 16.85% |
| NESBITT BURNS SECURITIES INC. | $193 | 10.99% |
| ODDO BHF AKTIENGESELLSCHAFT | $136 | 7.72% |
| HANDELSBANKEN SECURITIES | $123 | 7.00% |
| NUMIS SECURITIES | $109 | 6.21% |
| MERRILL LYNCH PIERCE FENNER & SMITH INC | $95 | 5.42% |
| CIBC WORLD MARKETS CORP | $54 | 3.06% |
| INSTINET, LLC | $54 | 3.05% |
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.