CIPRX Fees and Costs — Champlain Strategic Focus Fund
Data updated: 2026-08-28
The net expense ratio is 1.10%: a 0.80% management fee, a 0.25% 12b-1 fee plus 1.49% other expenses, less a 1.44% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $803 in broker commissions, 0.0208% of average net assets, and portfolio turnover was 55%.
CIPRX Fees and Expenses
Annual operating expenses and sales charges of CIPRX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.49% |
| Gross expense ratio | 2.54% |
| Fee waiver | −1.44% |
| Net expense ratio | 1.10% |
| 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 |
CIPRX Costs Over Time
On $10,000 invested in CIPRX, assuming 5% a year before costs, total costs come to $699 over 5 years, cutting the return by 1.18% 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 1.10%) | $116 | $360 | $623 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $118 | $385 | $699 |
| Value after costs | $10,382 | $11,191 | $12,063 |
| Impact on return, per year | 1.18% | 1.18% | 1.18% |
CIPRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0208%
- Total broker commissions: $803
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 55%
- Securities lending: none during the year
CIPRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| LIQUIDNET | $246 | 32.58% |
| BLAIR, WILLIAM, & COMPANY, L.L.C. | $127 | 16.86% |
| DIRECT TRADING INSTITUTIONAL INC | $98 | 13.00% |
| STATE STREET | $96 | 12.67% |
| INSTINET | $69 | 9.10% |
| STIFEL NICOLAUS & CO., INC. | $40 | 5.35% |
| PIPER SANDLER | $23 | 3.10% |
| LUMINEX | $20 | 2.66% |
| J P MORGAN CHASE BANK | $20 | 2.64% |
| SG COWEN | $15 | 2.04% |
Champlain Strategic Focus Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CIPTX | Institutional Shares | 0.85% | — |
| CIPRX | C000245656 | 1.10% | — |
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.