ISMRX Fees and Costs — Lmcg International Small Cap Fund, Investor Shares
Data updated: 2021-06-11
The net expense ratio is 1.11%: a 0.70% management fee, a 0.25% 12b-1 fee plus 3.04% other expenses, less a 2.89% fee waiver. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $63K in broker commissions, 0.1802% of average net assets, and portfolio turnover was 70%.
ISMRX Fees and Expenses
Annual operating expenses and sales charges of ISMRX. Prospectus, as of July 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 3.04% |
| Gross expense ratio | 4.00% |
| Fee waiver | −2.89% |
| Net expense ratio | 1.11% |
| 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 |
ISMRX Costs Over Time
On $10,000 invested in ISMRX, assuming 5% a year before costs, total costs come to $802 over 5 years, cutting the return by 1.35% 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 1.11%) | $117 | $363 | $627 |
| Trading costs (broker commissions) | $19 | $59 | $102 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $135 | $442 | $802 |
| Value after costs | $10,365 | $11,134 | $11,960 |
| Impact on return, per year | 1.35% | 1.35% | 1.35% |
ISMRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.1802%
- Total broker commissions: $63K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 70%
- Securities lending: none during the year
ISMRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PAVILION GLOBAL MARKETS LTD. | $30K | 47.95% |
| CITIGROUP GLOBAL MARKETS INC. | $10K | 16.55% |
| J.P. MORGAN SECURITIES LLC | $10K | 16.30% |
| MACQUARIE CAPITAL (USA) INC. | $5K | 8.41% |
| ROBERT W. BAIRD & CO. INCORPORATED | $3K | 4.13% |
| WEEDEN & CO. L.P. | $2K | 2.57% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $1K | 2.13% |
| JEFFERIES LLC | $928 | 1.48% |
| COWEN AND COMPANY, LLC | $304 | 0.49% |
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.