HCMEX Fees and Costs — HCM Multi-Asset Plus Fund, Class A
Data updated: 2026-09-11
The net expense ratio is 1.64%. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2026 the fund paid $167K in broker commissions, 0.0208% of average net assets, and portfolio turnover was 187%.
HCMEX Fees and Expenses
Annual operating expenses and sales charges of HCMEX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.13% |
| Gross expense ratio | 1.64% |
| Fee waiver | — |
| Net expense ratio | 1.64% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
HCMEX Costs Over Time
On $10,000 invested in HCMEX, assuming 5% a year before costs, total costs come to $1,700 over 5 years, cutting the return by 2.96% 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 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.64%) | $162 | $503 | $866 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $29 | $116 | $248 |
| Total costs | $768 | $1,200 | $1,700 |
| Value after costs | $9,732 | $10,376 | $11,063 |
| Impact on return, per year | 7.68% | 3.76% | 2.96% |
HCMEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0208%
- Total broker commissions: $167K
- Bought from dealers (principal trades, not a cost): $10.0M
- Portfolio turnover (prospectus): 187%
- Securities lending: none during the year
HCMEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mischler Financial Group, Inc. | $104K | 62.52% |
| Wallachbeth Capital, LLC | $63K | 37.48% |
HCMEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $10.0M | 100.00% |
HCM Multi-Asset Plus Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HCMLX | Class I | 1.39% | none |
| HCMEX | Class A | 1.64% | 5.75% |
| HCMKX | Investor Class | 2.39% | 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.