CIHIX Fees and Costs — Cullen International High Dividend Fund, Class I
Data updated: 2026-09-11
The net expense ratio is 1.00%: a 1.00% management fee plus 0.22% other expenses, less a 0.22% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.0M in broker commissions, 0.2580% of average net assets, and portfolio turnover was 125%.
CIHIX Fees and Expenses
Annual operating expenses and sales charges of CIHIX. Prospectus, as of October 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.22% |
| Gross expense ratio | 1.22% |
| Fee waiver | −0.22% |
| Net expense ratio | 1.00% |
| 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 |
CIHIX Costs Over Time
On $10,000 invested in CIHIX, assuming 5% a year before costs, total costs come to $783 over 5 years, cutting the return by 1.32% 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 | $565 |
| Trading costs (broker commissions) | $27 | $84 | $146 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $132 | $431 | $783 |
| Value after costs | $10,368 | $11,145 | $11,980 |
| Impact on return, per year | 1.32% | 1.32% | 1.32% |
CIHIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.2580%
- Total broker commissions: $1.0M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 125%
- Securities lending: none during the year
CIHIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| COWEN GROUP | $390K | 46.05% |
| UBS SECURITIES LLC | $83K | 9.82% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $78K | 9.24% |
| AUERBACH GRAYSON & COMPANY LLC | $51K | 6.04% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $48K | 5.66% |
| HSBC SECURITIES (USA) INC. | $47K | 5.55% |
| WOOD (ARTHUR W.) COMPANY, INC. | $43K | 5.02% |
| BERENBERG CAPITAL MARKETS LLC | $41K | 4.81% |
| MORGAN STANLEY | $39K | 4.60% |
| ROBERT W. BAIRD & CO. INCORPORATED | $27K | 3.22% |
Cullen International High Dividend Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CIHIX | Class I | 1.00% | — |
| CIHDX | Retail Class | 1.25% | — |
| CIHCX | Class C | 2.00% | — |
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.