BVPIX Fees and Costs — Baywood Valueplus Fund, Institutional Shares
Data updated: 2026-08-21
The net expense ratio is 0.70%: a 0.50% management fee plus 3.60% other expenses, less a 3.40% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.0541% of average net assets, and portfolio turnover was 30%.
BVPIX Fees and Expenses
Annual operating expenses and sales charges of BVPIX. Prospectus, as of February 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 3.60% |
| Gross expense ratio | 4.10% |
| Fee waiver | −3.40% |
| Net expense ratio | 0.70% |
| 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 | Yes |
BVPIX Costs Over Time
On $10,000 invested in BVPIX, assuming 5% a year before costs, total costs come to $474 over 5 years, cutting the return by 0.79% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $6 | $18 | $31 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $260 | $474 |
| Value after costs | $10,421 | $11,316 | $12,289 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
BVPIX 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): 0.0541%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
BVPIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PIPER JAFFRAY & CO. | $2K | 60.84% |
| COWEN AND COMPANY, LLC | $1K | 39.09% |
| CAPITAL INSTITUTIONAL SERVICES, INC. | $2 | 0.07% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.