CAMAX Fees and Costs — Cambiar Aggressive Value Fund, Investor Class
Data updated: 2023-03-31
The net expense ratio is 1.00%: a 0.90% management fee plus 0.32% other expenses, less a 0.22% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2022 the fund paid $77K in broker commissions, 0.1613% of average net assets, and portfolio turnover was 112%.
CAMAX Fees and Expenses
Annual operating expenses and sales charges of CAMAX. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | — |
| Other expenses | 0.32% |
| Gross expense ratio | 1.22% |
| Fee waiver | −0.22% |
| Net expense ratio | 1.00% |
| 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 |
CAMAX Costs Over Time
On $10,000 invested in CAMAX, assuming 5% a year before costs, total costs come to $724 over 5 years, cutting the return by 1.22% 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 1.00%) | $105 | $327 | $566 |
| Trading costs (broker commissions) | $17 | $53 | $91 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $122 | $399 | $724 |
| Value after costs | $10,378 | $11,178 | $12,039 |
| Impact on return, per year | 1.22% | 1.22% | 1.22% |
CAMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.1613%
- Total broker commissions: $77K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 112%
- Securities lending: none during the year
CAMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $8K | 14.21% |
| WACHOVIA CAPITAL MARKETS | $7K | 12.30% |
| SANFORD C. BERNSTEIN | $7K | 12.26% |
| GOLDMAN SACHS | $6K | 11.48% |
| RBC DAIN RAUSCHER | $5K | 9.63% |
| NOMURA SECURITIES | $5K | 9.33% |
| STRATEGAS SECURITIES | $5K | 9.25% |
| BARCLAYS CAPITAL | $4K | 8.11% |
| KEEFE BRUYETTE | $4K | 6.93% |
| RAYMOND JAMES | $3K | 6.51% |
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.