IPOCX Fees and Costs — Nomura Systematic Emerging Markets Equity Fund, Class C
Data updated: 2026-08-26
The net expense ratio is 1.78%: a 0.96% management fee, a 1.00% 12b-1 fee plus 0.29% other expenses, less a 0.47% fee waiver. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2026 the fund paid $446K in broker commissions, 0.0662% of average net assets, and portfolio turnover was 39%.
IPOCX Fees and Expenses
Annual operating expenses and sales charges of IPOCX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.96% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.29% |
| Gross expense ratio | 2.25% |
| Fee waiver | −0.47% |
| Net expense ratio | 1.78% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
IPOCX Costs Over Time
On $10,000 invested in IPOCX, assuming 5% a year before costs, total costs come to $1,135 over 5 years, cutting the return by 1.94% 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 | $103 | $0 | $0 |
| Fund expenses (net expense ratio 1.78%) | $187 | $578 | $993 |
| Trading costs (broker commissions) | $7 | $21 | $37 |
| Lost growth on money paid in costs | $0 | $30 | $105 |
| Total costs | $297 | $629 | $1,135 |
| Value after costs | $10,203 | $10,947 | $11,627 |
| Impact on return, per year | 2.97% | 1.94% | 1.94% |
IPOCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0662%
- Total broker commissions: $446K
- Bought from dealers (principal trades, not a cost): $2.1M
- Portfolio turnover (prospectus): 39%
- Securities lending: none during the year
IPOCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $163K | 38.51% |
| J.P. Morgan Securities LLC | $86K | 20.37% |
| HSBC SECURITIES (USA) INC. | $58K | 13.79% |
| BOFA SECURITIES, INC. | $44K | 10.33% |
| UBS Securities LLC | $21K | 4.95% |
| JEFFERIES LLC | $19K | 4.44% |
| GOLDMAN SACHS & CO. LLC | $10K | 2.27% |
| WOOD & Company Financial Services, a.s. | $9K | 2.07% |
| MORGAN STANLEY & CO. LLC | $9K | 2.03% |
| CLSA INDIA PRIVATE LIMITED | $5K | 1.24% |
IPOCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $2.1M | 100.00% |
Nomura Systematic Emerging Markets Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| IMEGX | Class R6 | 0.64% | none |
| IPOIX | Institutional Class | 0.78% | none |
| IPOAX | Class A | 1.03% | 5.75% |
| IPOYX | Class Y | 1.03% | none |
| IYPCX | Class R | 1.28% | none |
| IPOCX | Class C | 1.78% | 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.