C000013256 Fees and Costs — FPA Queens Road Value Fund, Queens Road Value Fund
Data updated: 2023-08-08
The net expense ratio is 0.65%: a 0.95% management fee plus 1.00% other expenses, less a 1.30% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $100 in broker commissions, 0.0003% of average net assets, and portfolio turnover was 4%.
C000013256 Fees and Expenses
Annual operating expenses and sales charges of C000013256. Prospectus, as of May 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.00% |
| Gross expense ratio | 1.95% |
| Fee waiver | −1.30% |
| Net expense ratio | 0.65% |
| 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 |
C000013256 Costs Over Time
On $10,000 invested in C000013256, assuming 5% a year before costs, total costs come to $410 over 5 years, cutting the return by 0.68% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $11 | $37 |
| Total costs | $68 | $224 | $410 |
| Value after costs | $10,432 | $11,352 | $12,353 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
C000013256 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0003%
- Total broker commissions: $100
- Bought from dealers (principal trades, not a cost): $5.2M
- Portfolio turnover (prospectus): 4%
- Securities lending: none during the year
C000013256 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TradeStation Securities, Inc. | $100 | 100.00% |
C000013256 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $5.2M | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.