APMAX Fees and Costs — Yorktown Master Allocation Fund, Institutional Class
Data updated: 2023-09-29
The net expense ratio is 2.72%. There are no sales loads or redemption fees. Portfolio turnover was 35%.
APMAX Fees and Expenses
Annual operating expenses and sales charges of APMAX. Prospectus, as of May 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.38% |
| Gross expense ratio | 2.72% |
| Fee waiver | — |
| Net expense ratio | 2.72% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
APMAX Costs Over Time
On $10,000 invested in APMAX, assuming 5% a year before costs, total costs come to $1,644 over 5 years, cutting the return by 2.86% 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 2.72%) | $286 | $875 | $1,491 |
| Lost growth on money paid in costs | $0 | $44 | $153 |
| Total costs | $286 | $919 | $1,644 |
| Value after costs | $10,214 | $10,657 | $11,119 |
| Impact on return, per year | 2.86% | 2.86% | 2.86% |
APMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $9.9M
- Portfolio turnover (prospectus): 35%
- Securities lending: none during the year
APMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Yorktown Capital Appreciation Fund | $4.1M | 41.68% |
| Yorktown Growth Fund | $3.1M | 31.18% |
| Yorktown Smal Cap Fund | $2.7M | 27.14% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.