KIFAX Fees and Costs — Westwood Real Estate Income Fund, A Class
Data updated: 2026-09-28
The net expense ratio is 1.14%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.19% other expenses. This share class carries a maximum front-end sales load of 3.00%. In fiscal 2025 the fund paid $185K in broker commissions, 0.0709% of average net assets, and portfolio turnover was 67%.
KIFAX Fees and Expenses
Annual operating expenses and sales charges of KIFAX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.19% |
| Gross expense ratio | 1.14% |
| Fee waiver | — |
| Net expense ratio | 1.14% |
| Sales charges | |
|---|---|
| Max front load | 3.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
KIFAX Costs Over Time
On $10,000 invested in KIFAX, assuming 5% a year before costs, total costs come to $1,114 over 5 years, cutting the return by 1.90% 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 | $300 | $300 | $300 |
| Fund expenses (net expense ratio 1.14%) | $116 | $361 | $625 |
| Trading costs (broker commissions) | $7 | $22 | $39 |
| Lost growth on money paid in costs | $15 | $66 | $150 |
| Total costs | $438 | $750 | $1,114 |
| Value after costs | $10,062 | $10,826 | $11,648 |
| Impact on return, per year | 4.38% | 2.32% | 1.90% |
KIFAX 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): 0.0709%
- Total broker commissions: $185K
- Bought from dealers (principal trades, not a cost): $2.0M
- Portfolio turnover (prospectus): 67%
- Securities lending: none during the year
KIFAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Northern Trust Securities, Inc. | $185K | 100.00% |
KIFAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Raymond James & Associates, Inc | $2.0M | 100.00% |
Westwood Real Estate Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| KIFYX | Institutional Class | 0.85% | none |
| KIFAX | A Class | 1.14% | 3.00% |
| KIFCX | C Class | 1.97% | 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.