LSOFX Fees and Costs — LS Opportunity Fund, Institutional Class Shares
Data updated: 2026-09-28
The net expense ratio is 2.94% (3.04% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $253K in broker commissions, 0.1667% of average net assets, and portfolio turnover was 199%.
LSOFX Fees and Expenses
Annual operating expenses and sales charges of LSOFX. Prospectus, as of October 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.27% |
| Gross expense ratio | 3.04% |
| Fee waiver | −0.10% |
| Net expense ratio | 2.94% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| 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 |
LSOFX Costs Over Time
On $10,000 invested in LSOFX, 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 |
| Fund expenses (net expense ratio 2.94%) | $309 | $942 | $1,598 |
| Trading costs (broker commissions) | $18 | $53 | $91 |
| Lost growth on money paid in costs | $0 | $50 | $174 |
| Total costs | $326 | $1,046 | $1,863 |
| Value after costs | $10,174 | $10,531 | $10,900 |
| Impact on return, per year | 3.26% | 3.26% | 3.26% |
LSOFX 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): 0.1667%
- Total broker commissions: $253K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 199%
- Securities lending: none during the year
LSOFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co., LLC | $37K | 19.28% |
| JEFFERIES ELECTRONIC TRADING SOLUTIONS | $31K | 16.00% |
| Keefe, Bruyette, & Woods, Inc. | $31K | 15.97% |
| PIPER JAFFRAY & CO. | $28K | 14.59% |
| HOVDE GROUP | $12K | 6.47% |
| DAVIDSON & CO. INC. | $12K | 6.32% |
| RBC CAPITAL MARKETS | $12K | 6.28% |
| Dowling & Partners Securities, LLC | $11K | 5.61% |
| VIRTU AMERICAS LLC | $10K | 5.14% |
| Compass Point Research & Trading, LLC | $8K | 4.34% |
LSOFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|
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.