KAUAX Fees and Costs — Federated Hermes Kaufmann Fund, Class A
Data updated: 2026-09-23
The net expense ratio is 1.96%: a 1.28% management fee, a 0.25% 12b-1 fee plus 0.43% other expenses. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2025 the fund paid $2.2M in broker commissions, 0.0436% of average net assets, and portfolio turnover was 28%.
KAUAX Fees and Expenses
Annual operating expenses and sales charges of KAUAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.28% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.43% |
| Gross expense ratio | 1.96% |
| Fee waiver | — |
| Net expense ratio | 1.96% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 | No |
KAUAX Costs Over Time
On $10,000 invested in KAUAX, assuming 5% a year before costs, total costs come to $1,863 over 5 years, cutting the return by 3.26% 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 | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.96%) | $194 | $601 | $1,030 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $28 | $117 | $259 |
| Total costs | $776 | $1,281 | $1,863 |
| Value after costs | $9,724 | $10,295 | $10,900 |
| Impact on return, per year | 7.76% | 4.03% | 3.26% |
KAUAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0436%
- Total broker commissions: $2.2M
- Bought from dealers (principal trades, not a cost): $2.2B
- Portfolio turnover (prospectus): 28%
- Securities on loan, average value: $18.4M
- Net income from securities lending: $390K (0.008% of average net assets)
KAUAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Nomura Securities International, Inc. | $356K | 25.00% |
| JonesTrading | $248K | 17.43% |
| TD Securities (USA) LLC | $168K | 11.80% |
| UBS Securities LLC | $131K | 9.21% |
| Goldman Sachs & Co. LLC | $121K | 8.54% |
| Jefferies LLC | $98K | 6.89% |
| Citigroup Global Markets Inc. | $92K | 6.48% |
| BofA Securities, Inc. | $82K | 5.80% |
| J.P. Morgan Securities LLC | $65K | 4.57% |
| State Street Global Markets, LLC | $61K | 4.27% |
KAUAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Federated Securities Corp. | $2.1B | 92.90% |
| Goldman Sachs & Co. LLC | $56.6M | 2.56% |
| Jefferies LLC | $29.4M | 1.33% |
| J.P. Morgan Securities LLC | $29.1M | 1.32% |
| Morgan Stanley & Co. LLC | $17.1M | 0.77% |
| Guggenheim Securities, LLC | $14.0M | 0.63% |
| TD Securities (USA) LLC | $10.5M | 0.47% |
| Barclays Capital Inc. | $184K | 0.01% |
Federated Hermes Kaufmann Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| KAUIX | Institutional Shares | 1.46% | none |
| KAUAX | Class A | 1.96% | 5.50% |
| KAUFX | Class R | 1.96% | none |
| KAUCX | Class C | 2.46% | 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.