GPGEX Fees and Costs — Grandeur Peak Global Explorer Fund, Institutional Class
Data updated: 2026-09-29
The net expense ratio is 1.10%: a 0.80% management fee plus 1.32% other expenses, less a 1.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $21K in broker commissions, 0.1657% of average net assets, and portfolio turnover was 153%.
GPGEX Fees and Expenses
Annual operating expenses and sales charges of GPGEX. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.32% |
| Gross expense ratio | 2.12% |
| Fee waiver | −1.02% |
| Net expense ratio | 1.10% |
| 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 |
GPGEX Costs Over Time
On $10,000 invested in GPGEX, assuming 5% a year before costs, total costs come to $788 over 5 years, cutting the return by 1.33% 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 1.10%) | $116 | $359 | $621 |
| Trading costs (broker commissions) | $17 | $54 | $94 |
| Lost growth on money paid in costs | $0 | $21 | $72 |
| Total costs | $133 | $434 | $788 |
| Value after costs | $10,367 | $11,142 | $11,975 |
| Impact on return, per year | 1.33% | 1.33% | 1.33% |
GPGEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1657%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): $179K
- Portfolio turnover (prospectus): 153%
- Securities lending: none during the year
GPGEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UOB KAY HIAN (HONG KONG) LIMITED | $5K | 23.24% |
| MORGAN STANLEY & CO., LLC | $5K | 23.20% |
| GOLDMAN, SACHS & CO. | $4K | 18.19% |
| INVESTEC SECURITIES, LLC | $2K | 8.29% |
| Macquarie Capital (USA) Inc. | $1K | 6.18% |
| JEFFERIES LLC | $1K | 5.16% |
| BERENBERG CAPITAL MARKETS LLC | $968 | 4.54% |
| CANACCORD WEALTH MANAGEMENT (USA), INC. | $943 | 4.43% |
| UBS SECURITIES LLC | $811 | 3.81% |
| CARNEGIE, INC. | $632 | 2.97% |
GPGEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS, INC (WAS SSB) | $106K | 58.86% |
| GOLDMAN, SACHS & CO. | $61K | 34.10% |
| MORGAN STANLEY & CO., LLC | $13K | 7.03% |
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.