HMIIX Fees and Costs — Hancock Horizon Microcap Fund, Institutional Class
Data updated: 2021-08-26
The net expense ratio is 1.30%: a 0.80% management fee plus 0.74% other expenses, less a 0.24% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $164K in broker commissions, 1.5769% of average net assets, and portfolio turnover was 137%.
HMIIX Fees and Expenses
Annual operating expenses and sales charges of HMIIX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | — |
| Other expenses | 0.74% |
| Gross expense ratio | 1.54% |
| Fee waiver | −0.24% |
| Net expense ratio | 1.30% |
| 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 |
HMIIX Costs Over Time
On $10,000 invested in HMIIX, assuming 5% a year before costs, total costs come to $1,733 over 5 years, cutting the return by 3.02% 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 1.30%) | $136 | $418 | $710 |
| Trading costs (broker commissions) | $166 | $507 | $861 |
| Lost growth on money paid in costs | $0 | $46 | $162 |
| Total costs | $302 | $971 | $1,733 |
| Value after costs | $10,198 | $10,606 | $11,030 |
| Impact on return, per year | 3.02% | 3.02% | 3.02% |
HMIIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 1.5769%
- Total broker commissions: $164K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 137%
- Securities lending: none during the year
HMIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ITGI | $164K | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.