JOPSX Fees and Costs — JOHCM International Opportunities Fund, Institutional Shares
Data updated: 2026-08-27
The net expense ratio is 0.51%: a 0.75% management fee plus 0.18% other expenses, less a 0.43% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $169K in broker commissions, 0.1268% of average net assets, and portfolio turnover was 45%.
JOPSX Fees and Expenses
Annual operating expenses and sales charges of JOPSX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 0.94% |
| Fee waiver | −0.43% |
| Net expense ratio | 0.51% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
JOPSX Costs Over Time
On $10,000 invested in JOPSX, assuming 5% a year before costs, total costs come to $401 over 5 years, cutting the return by 0.67% 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 0.51%) | $54 | $168 | $292 |
| Trading costs (broker commissions) | $13 | $42 | $73 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $67 | $220 | $401 |
| Value after costs | $10,433 | $11,357 | $12,362 |
| Impact on return, per year | 0.67% | 0.67% | 0.67% |
JOPSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1268%
- Total broker commissions: $169K
- Bought from dealers (principal trades, not a cost): $501.2M
- Portfolio turnover (prospectus): 45%
- Securities lending: none during the year
JOPSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JP Morgan Securities PLC | $32K | 22.11% |
| Jefferies International Limited | $31K | 21.62% |
| HSBC Bank PLC | $19K | 13.21% |
| UBS AG | $12K | 8.48% |
| BNP Paribas | $12K | 8.44% |
| Citigroup Global Markets Ltd | $11K | 7.74% |
| Barclays Capital Securities Limited | $9K | 5.84% |
| RBC Europe Limited | $8K | 5.61% |
| Liquidnet Europe Limited | $6K | 4.22% |
| Daiwa Capital Markets Hong Kong Limited | $4K | 2.73% |
JOPSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $501.2M | 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.