CIPSX Fees and Costs — Champlain Small Company Fund, Advisor Class
Data updated: 2026-08-28
The net expense ratio is 1.24%: a 0.81% management fee, a 0.25% 12b-1 fee plus 0.18% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $976K in broker commissions, 0.0570% of average net assets, and portfolio turnover was 51%.
CIPSX Fees and Expenses
Annual operating expenses and sales charges of CIPSX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.81% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.18% |
| Gross expense ratio | 1.24% |
| Fee waiver | — |
| Net expense ratio | 1.24% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
CIPSX Costs Over Time
On $10,000 invested in CIPSX, assuming 5% a year before costs, total costs come to $806 over 5 years, cutting the return by 1.36% 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 1.24%) | $130 | $405 | $700 |
| Trading costs (broker commissions) | $6 | $19 | $32 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $136 | $445 | $806 |
| Value after costs | $10,364 | $11,132 | $11,956 |
| Impact on return, per year | 1.36% | 1.36% | 1.36% |
CIPSX 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): 0.0570%
- Total broker commissions: $976K
- Bought from dealers (principal trades, not a cost): $7.8M
- Portfolio turnover (prospectus): 51%
- Securities lending: none during the year
CIPSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| LIQUIDNET | $159K | 22.04% |
| INSTINET | $121K | 16.74% |
| DIRECT TRADING INSTITUTIONAL INC | $116K | 16.03% |
| STATE STREET | $80K | 11.14% |
| JEFFERIES LLC | $69K | 9.59% |
| BLAIR, WILLIAM, & COMPANY, L.L.C. | $43K | 5.98% |
| KEEFE BRUYETTE AND WOODS INC. | $42K | 5.81% |
| MORGAN STANLEY & CO, INC | $32K | 4.42% |
| STIFEL NICOLAUS & CO., INC. | $32K | 4.37% |
| GOLDMAN, SACHS & CO. | $28K | 3.90% |
CIPSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO, INC | $7.2M | 92.13% |
| DIRECT TRADING INSTITUTIONAL INC | $616K | 7.87% |
Champlain Small Company Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CIPNX | Institutional Class | 0.99% | — |
| CIPSX | Advisor Class | 1.24% | — |
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.