CAMMX Fees and Costs — Cambiar SMID Fund, Investor Class
Data updated: 2026-09-28
The net expense ratio is 0.95%: a 0.80% management fee plus 0.39% other expenses, less a 0.24% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $62K in broker commissions, 0.1134% of average net assets, and portfolio turnover was 71%.
CAMMX Fees and Expenses
Annual operating expenses and sales charges of CAMMX. Prospectus, as of March 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | — |
| Other expenses | 0.39% |
| Gross expense ratio | 1.19% |
| Fee waiver | −0.24% |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
CAMMX Costs Over Time
On $10,000 invested in CAMMX, assuming 5% a year before costs, total costs come to $664 over 5 years, cutting the return by 1.12% 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 0.95%) | $100 | $311 | $539 |
| Trading costs (broker commissions) | $12 | $37 | $64 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $112 | $365 | $664 |
| Value after costs | $10,388 | $11,211 | $12,098 |
| Impact on return, per year | 1.12% | 1.12% | 1.12% |
CAMMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1134%
- Total broker commissions: $62K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 71%
- Securities lending: none during the year
CAMMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wachovia Capital Markets | $18K | 27.57% |
| Raymond James and Associates | $17K | 25.71% |
| Jefferies LLC | $14K | 21.61% |
| Barclays Bank | $7K | 11.55% |
| Societe Generale | $3K | 4.60% |
| Strategas Securities LLC | $1K | 2.23% |
| Liquidnet | $1K | 2.21% |
| Keefe Bruyette | $1K | 2.05% |
| Instinet | $1K | 1.73% |
| Evolution Group | $480 | 0.74% |
Cambiar SMID Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CAMUX | Institutional Class | 0.85% | — |
| CAMMX | Investor Class | 0.95% | — |
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.