GAKIX Fees and Costs — AXS Merger Fund, Class I
Data updated: 2024-12-12
The net expense ratio is 1.88%: a 1.25% management fee plus 1.14% other expenses, less a 0.51% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2024 the fund paid $15K in broker commissions, 0.0666% of average net assets, and portfolio turnover was 303%.
GAKIX Fees and Expenses
Annual operating expenses and sales charges of GAKIX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.14% |
| Gross expense ratio | 2.39% |
| Fee waiver | −0.51% |
| Net expense ratio | 1.88% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
GAKIX Costs Over Time
On $10,000 invested in GAKIX, assuming 5% a year before costs, total costs come to $1,195 over 5 years, cutting the return by 2.04% 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 1.88%) | $197 | $610 | $1,047 |
| Trading costs (broker commissions) | $7 | $22 | $37 |
| Lost growth on money paid in costs | $0 | $31 | $111 |
| Total costs | $204 | $663 | $1,195 |
| Value after costs | $10,296 | $10,913 | $11,568 |
| Impact on return, per year | 2.04% | 2.04% | 2.04% |
GAKIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0666%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $4K
- Portfolio turnover (prospectus): 303%
- Securities lending: none during the year
GAKIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ALLIANCE GLOBAL PART | $8K | 52.69% |
| SEAPORT GLOBAL SECURITIES LLC | $5K | 34.43% |
| ROTHSCHILD & CO US INC. | $1K | 8.36% |
| FBN Securities, Inc | $441 | 2.93% |
| BTIG, LLC | $240 | 1.59% |
GAKIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ALLIANCE GLOBAL PART | $4K | 88.83% |
| SEAPORT GLOBAL SECURITIES LLC | $474 | 11.17% |
AXS Merger Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GAKIX | Class I | 1.88% | none |
| GAKAX | Investor Class | 2.13% | none |
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.