FIMUX Fees and Costs — Frost Municipal Bond Fund, Institutional Class
Data updated: 2024-10-11
The net expense ratio is 0.70%: a 0.25% management fee plus 0.45% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 17%.
FIMUX Fees and Expenses
Annual operating expenses and sales charges of FIMUX. Prospectus, as of November 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.45% |
| Gross expense ratio | 0.70% |
| Fee waiver | — |
| Net expense ratio | 0.70% |
| 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 | No |
FIMUX Costs Over Time
On $10,000 invested in FIMUX, assuming 5% a year before costs, total costs come to $440 over 5 years, cutting the return by 0.73% 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 0.70%) | $74 | $230 | $400 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $241 | $440 |
| Value after costs | $10,426 | $11,335 | $12,322 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
FIMUX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $3.7M
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
FIMUX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CHASE SECURITIES, INC. | $4.9M | 26.76% |
| RBC DAIN RAUSCHER INC. | $3.3M | 18.06% |
| WACHOVIA CAPITAL MARKETS | $2.3M | 12.53% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH | $1.8M | 9.61% |
| JEFFERIES LLC | $1.1M | 5.95% |
| MONTGOMERY/BANK OF AMERICA | $1.1M | 5.89% |
| GOLDMAN, SACHS & CO. | $1.0M | 5.70% |
| LIQUIDNET | $1.0M | 5.58% |
| US BANCORP INVESTMENTS INC. | $1.0M | 5.56% |
| BARCLAYS CAPITAL INC. | $797K | 4.35% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.