C000104684 Fees and Costs — Grandeur Peak Global Opportunities Fund, Institutional Class
Data updated: 2023-09-28
The net expense ratio is 1.30%: a 1.25% management fee plus 0.11% other expenses, less a 0.06% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2023 the fund paid $322K in broker commissions, 0.0477% of average net assets, and portfolio turnover was 28%.
C000104684 Fees and Expenses
Annual operating expenses and sales charges of C000104684. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.36% |
| Fee waiver | −0.06% |
| Net expense ratio | 1.30% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000104684 Costs Over Time
On $10,000 invested in C000104684, assuming 5% a year before costs, total costs come to $837 over 5 years, cutting the return by 1.42% 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 1.30%) | $136 | $424 | $733 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $142 | $462 | $837 |
| Value after costs | $10,358 | $11,114 | $11,926 |
| Impact on return, per year | 1.42% | 1.42% | 1.42% |
C000104684 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0477%
- Total broker commissions: $322K
- Bought from dealers (principal trades, not a cost): $1.6M
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
C000104684 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $61K | 28.85% |
| LIQUIDNET, INC. | $28K | 13.46% |
| BLOOMBERG TRADEBOOK LLC | $27K | 12.68% |
| INVESTEC SECURITIES (US) LLC | $18K | 8.50% |
| GOLDMAN SACHS & CO. LLC | $16K | 7.36% |
| NUMIS SECURITIES INC. | $13K | 6.10% |
| MAYBANK KIM ENG SECURITIES USA INC. | $13K | 6.04% |
| BERENBERG CAPITAL MARKETS LLC | $12K | 5.90% |
| WILLIAM BLAIR | $12K | 5.62% |
| ITAU INTERNATIONAL SECURITIES INC. | $12K | 5.49% |
C000104684 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Cenkos Securities | $1.3M | 81.37% |
| NUMIS SECURITIES INC. | $299K | 18.62% |
| MAYBANK KIM ENG SECURITIES USA INC. | $98 | 0.01% |
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.