GBPAX Fees and Costs — Global Allocation Fund, Adviser Class
Data updated: 2026-08-05
The net expense ratio is 1.67%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $19K in broker commissions, 0.0491% of average net assets, and portfolio turnover was 233%.
GBPAX Fees and Expenses
Annual operating expenses and sales charges of GBPAX. Prospectus, as of May 14, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.79% |
| Gross expense ratio | 1.67% |
| Fee waiver | — |
| Net expense ratio | 1.67% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
GBPAX Costs Over Time
On $10,000 invested in GBPAX, assuming 5% a year before costs, total costs come to $1,060 over 5 years, cutting the return by 1.81% 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 1.67%) | $175 | $543 | $935 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $28 | $98 |
| Total costs | $181 | $587 | $1,060 |
| Value after costs | $10,319 | $10,989 | $11,703 |
| Impact on return, per year | 1.81% | 1.81% | 1.81% |
GBPAX 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): 0.0491%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 233%
- Securities lending: none during the year
GBPAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $17K | 93.64% |
| CLEAR STREET LLC | $1K | 5.87% |
| TD COWEN | $92 | 0.49% |
Global Allocation Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GBPIX | Institutional Class | 1.61% | — |
| GBPAX | Adviser Class | 1.67% | — |
| FLFGX | Retail Class | 2.00% | — |
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.