C000232936 Fees and Costs — Grandeur Peak Global Explorer Fund, Institutional Class
Data updated: 2023-09-28
The net expense ratio is 1.25%: a 1.10% management fee plus 2.87% other expenses, less a 2.72% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2023 the fund paid $10K in broker commissions, 0.0986% of average net assets, and portfolio turnover was 38%.
C000232936 Fees and Expenses
Annual operating expenses and sales charges of C000232936. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.00% |
| Other expenses | 2.87% |
| Gross expense ratio | 3.97% |
| Fee waiver | −2.72% |
| Net expense ratio | 1.25% |
| 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 |
C000232936 Costs Over Time
On $10,000 invested in C000232936, assuming 5% a year before costs, total costs come to $838 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 1.25%) | $131 | $408 | $705 |
| Trading costs (broker commissions) | $10 | $32 | $56 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $142 | $462 | $838 |
| Value after costs | $10,358 | $11,114 | $11,925 |
| Impact on return, per year | 1.42% | 1.42% | 1.42% |
C000232936 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): 0.0986%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $19K
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
C000232936 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $3K | 37.58% |
| BLOOMBERG TRADEBOOK LLC | $1K | 16.40% |
| GOLDMAN SACHS & CO. LLC | $907 | 12.53% |
| BERENBERG CAPITAL MARKETS LLC | $536 | 7.41% |
| Concordia International Forwarding Pty Ltd | $409 | 5.65% |
| UBS SECURITIES LLC | $363 | 5.02% |
| AUERBACH GRAYSON & COMPANY LLC | $330 | 4.56% |
| UOB KAY HIAN (U.S.) INC. | $308 | 4.26% |
| MACQUARIE CAPITAL (USA) INC. | $273 | 3.77% |
| ITAU INTERNATIONAL SECURITIES INC. | $204 | 2.82% |
C000232936 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $12K | 65.82% |
| NUMIS SECURITIES INC. | $3K | 17.26% |
| Cenkos Securities | $3K | 16.91% |
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.