LKSMX Fees and Costs — Lkcm Small-Mid Cap Equity Fund
Data updated: 2026-08-19
The net expense ratio is 1.01%: a 0.75% management fee plus 0.56% other expenses, less a 0.31% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $26K in broker commissions, 0.0636% of average net assets, and portfolio turnover was 44%.
LKSMX Fees and Expenses
Annual operating expenses and sales charges of LKSMX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.56% |
| Gross expense ratio | 1.32% |
| Fee waiver | −0.31% |
| Net expense ratio | 1.01% |
| 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 | No |
LKSMX Costs Over Time
On $10,000 invested in LKSMX, assuming 5% a year before costs, total costs come to $671 over 5 years, cutting the return by 1.13% 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 1.01%) | $106 | $331 | $573 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $0 | $17 | $62 |
| Total costs | $113 | $369 | $671 |
| Value after costs | $10,387 | $11,207 | $12,092 |
| Impact on return, per year | 1.13% | 1.13% | 1.13% |
LKSMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0636%
- Total broker commissions: $26K
- Bought from dealers (principal trades, not a cost): $1.3M
- Portfolio turnover (prospectus): 44%
- Securities lending: none during the year
LKSMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET LLC | $9K | 39.03% |
| CAPITAL INSTITUTIONAL SERVICES INC. | $4K | 15.89% |
| NEEDHAM & COMPANY LLC | $2K | 8.88% |
| TELSEY ADVISORY GROUP LLC | $2K | 8.29% |
| J.P. MORGAN SECURITIES LLC | $2K | 7.98% |
| KEEFE BRUYETTE & WOODS INC. | $1K | 5.23% |
| CRAIG-HALLUM CAPITAL GROUP LLC | $981 | 4.15% |
| ROTH CAPITAL PARTNERS LLC | $891 | 3.77% |
| KEYBANC CAPITAL MARKETS INC. | $819 | 3.47% |
| STEPHENS INC. | $780 | 3.30% |
LKSMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $1.3M | 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.