GPIIX Fees and Costs — Grandeur Peak International Opportunities Fund, Institutional Class
Data updated: 2026-09-29
The net expense ratio is 1.46%: a 1.25% management fee plus 0.21% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $249K in broker commissions, 0.1010% of average net assets, and portfolio turnover was 41%.
GPIIX Fees and Expenses
Annual operating expenses and sales charges of GPIIX. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.46% |
| Fee waiver | — |
| Net expense ratio | 1.46% |
| 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 |
GPIIX Costs Over Time
On $10,000 invested in GPIIX, assuming 5% a year before costs, total costs come to $966 over 5 years, cutting the return by 1.64% 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 1.46%) | $153 | $476 | $820 |
| Trading costs (broker commissions) | $11 | $33 | $57 |
| Lost growth on money paid in costs | $0 | $25 | $89 |
| Total costs | $164 | $534 | $966 |
| Value after costs | $10,336 | $11,043 | $11,797 |
| Impact on return, per year | 1.64% | 1.64% | 1.64% |
GPIIX 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): 0.1010%
- Total broker commissions: $249K
- Bought from dealers (principal trades, not a cost): $5.2M
- Portfolio turnover (prospectus): 41%
- Securities lending: none during the year
GPIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO., LLC | $48K | 19.21% |
| Macquarie Capital (USA) Inc. | $38K | 15.29% |
| INVESTEC SECURITIES, LLC | $35K | 13.97% |
| BERENBERG CAPITAL MARKETS LLC | $27K | 10.84% |
| LIQUIDNET, INC. | $24K | 9.71% |
| GOLDMAN, SACHS & CO. | $21K | 8.54% |
| UOB KAY HIAN (HONG KONG) LIMITED | $20K | 8.11% |
| AAUERBACH GRAYSON | $15K | 6.05% |
| CARNEGIE, INC. | $11K | 4.52% |
| DAIWA CAPITAL MARKETS AMERICA, INC. | $9K | 3.76% |
GPIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS, INC (WAS SSB) | $2.7M | 51.50% |
| GOLDMAN, SACHS & CO. | $1.3M | 26.07% |
| PARETO SECURITIES, INC. | $1.2M | 22.43% |
Grandeur Peak International Opportunities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GPIIX | Institutional Class | 1.46% | — |
| GPIOX | Investor Class | 1.71% | — |
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.