ENHNX Fees and Costs — Cullen Enhanced Equity Income Fund, Class I
Data updated: 2026-09-11
The net expense ratio is 0.75%: a 1.00% management fee plus 0.27% other expenses, less a 0.52% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $217K in broker commissions, 0.1490% of average net assets, and portfolio turnover was 150%.
ENHNX Fees and Expenses
Annual operating expenses and sales charges of ENHNX. Prospectus, as of October 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.27% |
| Fee waiver | −0.52% |
| Net expense ratio | 0.75% |
| 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 |
ENHNX Costs Over Time
On $10,000 invested in ENHNX, assuming 5% a year before costs, total costs come to $563 over 5 years, cutting the return by 0.94% 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 0.75%) | $79 | $246 | $427 |
| Trading costs (broker commissions) | $16 | $49 | $85 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $94 | $309 | $563 |
| Value after costs | $10,406 | $11,267 | $12,199 |
| Impact on return, per year | 0.94% | 0.94% | 0.94% |
ENHNX 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): 0.1490%
- Total broker commissions: $217K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 150%
- Securities lending: none during the year
ENHNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STONEX SECURITIES INC. | $54K | 26.63% |
| COWEN GROUP | $52K | 25.35% |
| GTS SECURITIES LLC | $22K | 10.61% |
| JANE STREET CAPITAL, LLC | $17K | 8.22% |
| BERENBERG CAPITAL MARKETS LLC | $14K | 6.79% |
| GOLDMAN SACHS | $10K | 4.96% |
| JPMORGAN CHASE | $10K | 4.68% |
| CANTOR FITZGERALD & CO. | $9K | 4.51% |
| EVERCORE GROUP LLC | $8K | 4.15% |
| KEEFE, BRUYETTE & WOODS, INC. | $8K | 4.08% |
Cullen Enhanced Equity Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ENHNX | Class I | 0.75% | — |
| ENHRX | Retail Class | 1.00% | — |
| ENHCX | Class C | 1.75% | — |
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.