C000104685 Fees and Costs — Grandeur Peak International Opportunities Fund, Investor Class
Data updated: 2023-09-28
The net expense ratio is 1.55%: a 1.25% management fee, a 0.24% 12b-1 fee plus 0.11% other expenses, less a 0.05% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2023 the fund paid $306K in broker commissions, 0.0480% of average net assets, and portfolio turnover was 28%.
C000104685 Fees and Expenses
Annual operating expenses and sales charges of C000104685. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.24% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.60% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.55% |
| 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 |
C000104685 Costs Over Time
On $10,000 invested in C000104685, assuming 5% a year before costs, total costs come to $988 over 5 years, cutting the return by 1.68% 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 1.55%) | $163 | $505 | $870 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $26 | $91 |
| Total costs | $168 | $546 | $988 |
| Value after costs | $10,332 | $11,030 | $11,775 |
| Impact on return, per year | 1.68% | 1.68% | 1.68% |
C000104685 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): 0.0480%
- Total broker commissions: $306K
- Bought from dealers (principal trades, not a cost): $1.4M
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
C000104685 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $39K | 21.80% |
| LIQUIDNET, INC. | $25K | 14.01% |
| GOLDMAN SACHS & CO. LLC | $25K | 13.93% |
| UOB KAY HIAN (U.S.) INC. | $20K | 11.16% |
| MACQUARIE CAPITAL (USA) INC. | $14K | 7.99% |
| INVESTEC SECURITIES (US) LLC | $14K | 7.70% |
| BERENBERG CAPITAL MARKETS LLC | $13K | 7.04% |
| NUMIS SECURITIES INC. | $10K | 5.67% |
| JEFFERIES LLC | $10K | 5.36% |
| BLOOMBERG TRADEBOOK LLC | $10K | 5.34% |
C000104685 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Cenkos Securities | $1.2M | 87.88% |
| NUMIS SECURITIES INC. | $167K | 12.11% |
| MAYBANK KIM ENG SECURITIES USA INC. | $49 | 0.00% |
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.