LBETX Fees and Costs — LGM Risk Managed Total Return Fund, Institutional Class Shares
Data updated: 2026-09-23
The net expense ratio is 2.65%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0106% of average net assets, and portfolio turnover was 426%.
LBETX Fees and Expenses
Annual operating expenses and sales charges of LBETX. Prospectus, as of September 23, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 1.62% |
| Gross expense ratio | 2.65% |
| Fee waiver | — |
| Net expense ratio | 2.65% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
LBETX Costs Over Time
On $10,000 invested in LBETX, assuming 5% a year before costs, total costs come to $1,610 over 5 years, cutting the return by 2.79% 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 2.65%) | $278 | $853 | $1,454 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $43 | $150 |
| Total costs | $279 | $900 | $1,610 |
| Value after costs | $10,221 | $10,677 | $11,153 |
| Impact on return, per year | 2.79% | 2.79% | 2.79% |
LBETX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0106%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 426%
- Securities lending: none during the year
LBETX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Stonex Financial | $2K | 100.00% |
LGM Risk Managed Total Return Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LBTTX | Investor Class Shares | 1.93% | none |
| LBETX | Institutional Class Shares | 2.65% | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.