BMPEX Fees and Costs — Beck, Mack & Oliver Partners Fund
Data updated: 2026-08-17
The net expense ratio is 1.00%: a 1.00% management fee plus 0.55% other expenses, less a 0.55% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $4K in broker commissions, 0.0049% of average net assets, and portfolio turnover was 6%.
BMPEX Fees and Expenses
Annual operating expenses and sales charges of BMPEX. Prospectus, as of August 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.55% |
| Gross expense ratio | 1.55% |
| Fee waiver | −0.55% |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
BMPEX Costs Over Time
On $10,000 invested in BMPEX, assuming 5% a year before costs, total costs come to $629 over 5 years, cutting the return by 1.06% 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 1.00%) | $105 | $328 | $568 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $106 | $345 | $629 |
| Value after costs | $10,394 | $11,231 | $12,134 |
| Impact on return, per year | 1.06% | 1.06% | 1.06% |
BMPEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0049%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 6%
- Securities lending: none during the year
BMPEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INC | $1K | 26.35% |
| KNIGHT SECURITIES, L.P. | $680 | 17.92% |
| MORGAN STANLEY & CO. LLC | $640 | 16.86% |
| ALGORITHM TRADING | $400 | 10.54% |
| LIQUIDNET, INC. | $400 | 10.54% |
| WOLFE RESEARCH SECURITIES | $340 | 8.96% |
| SANFORD C BERNSTEIN & CO INC | $255 | 6.73% |
| DOWLING & PARTNERS SECURITIES | $80 | 2.11% |
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.