BTIFX Fees and Costs — Belmont Theta Income Fund, Institutional Class Shares
Data updated: 2025-09-29
The net expense ratio is 1.99%: a 1.75% management fee plus 1.29% other expenses, less a 1.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $7K in broker commissions, 0.0398% of average net assets, and portfolio turnover was 0%.
BTIFX Fees and Expenses
Annual operating expenses and sales charges of BTIFX. Prospectus, as of May 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.29% |
| Gross expense ratio | 3.04% |
| Fee waiver | −1.05% |
| Net expense ratio | 1.99% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
BTIFX Costs Over Time
On $10,000 invested in BTIFX, assuming 5% a year before costs, total costs come to $1,244 over 5 years, cutting the return by 2.13% 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 1.99%) | $209 | $645 | $1,106 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $33 | $115 |
| Total costs | $213 | $691 | $1,244 |
| Value after costs | $10,287 | $10,886 | $11,519 |
| Impact on return, per year | 2.13% | 2.13% | 2.13% |
BTIFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0398%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $12.6M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
BTIFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INTERACTIVE BROKERS LLC | $7K | 100.00% |
BTIFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Huntington National Bank | $12.6M | 99.78% |
| INTERACTIVE BROKERS LLC | $27K | 0.22% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.