GPMCX Fees and Costs — Grandeur Peak Global Micro Cap Fund, Institutional Class
Data updated: 2026-09-29
The net expense ratio is 2.00%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $36K in broker commissions, 0.0787% of average net assets, and portfolio turnover was 51%.
GPMCX Fees and Expenses
Annual operating expenses and sales charges of GPMCX. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.50% |
| Gross expense ratio | — |
| Fee waiver | — |
| Net expense ratio | 2.00% |
| 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 | Yes |
GPMCX Costs Over Time
On $10,000 invested in GPMCX, assuming 5% a year before costs, total costs come to $1,272 over 5 years, cutting the return by 2.18% 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 2.00%) | $210 | $648 | $1,111 |
| Trading costs (broker commissions) | $8 | $25 | $44 |
| Lost growth on money paid in costs | $0 | $34 | $118 |
| Total costs | $218 | $707 | $1,272 |
| Value after costs | $10,282 | $10,869 | $11,490 |
| Impact on return, per year | 2.18% | 2.18% | 2.18% |
GPMCX 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): 0.0787%
- Total broker commissions: $36K
- Bought from dealers (principal trades, not a cost): $283K
- Portfolio turnover (prospectus): 51%
- Securities lending: none during the year
GPMCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO., LLC | $11K | 29.42% |
| GOLDMAN, SACHS & CO. | $8K | 20.63% |
| Macquarie Capital (USA) Inc. | $5K | 12.88% |
| LIQUIDNET, INC. | $3K | 8.65% |
| CANACCORD WEALTH MANAGEMENT (USA), INC. | $3K | 7.63% |
| BERENBERG CAPITAL MARKETS LLC | $2K | 4.49% |
| CARNEGIE, INC. | $2K | 4.25% |
| BTIG LLC | $2K | 4.20% |
| RAYMOND JAMES & ASSOCIATES, INC. | $1K | 3.97% |
| WILLIAM BLAIR & COMPANY LLC | $1K | 3.88% |
GPMCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| PARETO SECURITIES, INC. | $283K | 100.00% |
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.