CFSMX Fees and Costs — Clarkston Partners Fund, Founders Class
Data updated: 2026-08-26
The net expense ratio is 0.85%: a 0.80% management fee plus 0.09% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $638K in broker commissions, 0.0602% of average net assets, and portfolio turnover was 28%.
CFSMX Fees and Expenses
Annual operating expenses and sales charges of CFSMX. Prospectus, as of February 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.89% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.85% |
| 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 |
CFSMX Costs Over Time
On $10,000 invested in CFSMX, assuming 5% a year before costs, total costs come to $570 over 5 years, cutting the return by 0.96% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $6 | $20 | $34 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $96 | $313 | $570 |
| Value after costs | $10,404 | $11,263 | $12,192 |
| Impact on return, per year | 0.96% | 0.96% | 0.96% |
CFSMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0602%
- Total broker commissions: $638K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
CFSMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $609K | 95.53% |
| JPMORGAN DISTRIBUTION SERVICES, INC. | $18K | 2.74% |
| CJS SECURITIES, INC. | $10K | 1.53% |
| Piper Sandler | $1K | 0.20% |
Clarkston Partners Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CFSMX | Founders Class | 0.85% | — |
| CISMX | Institutional Class | 1.00% | — |
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.