MAHIX Fees and Costs — iMGP Low Duration Income Fund, Institutional Class
Data updated: 2026-08-26
The net expense ratio is 1.02% (1.14% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $5K in broker commissions, 0.0014% of average net assets, and portfolio turnover was 97%.
MAHIX Fees and Expenses
Annual operating expenses and sales charges of MAHIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.78% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.32% |
| Gross expense ratio | 1.14% |
| Fee waiver | −0.12% |
| Net expense ratio | 1.02% |
| 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 | Yes |
MAHIX Costs Over Time
On $10,000 invested in MAHIX, assuming 5% a year before costs, total costs come to $639 over 5 years, cutting the return by 1.07% 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 1.02%) | $107 | $334 | $579 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $107 | $351 | $639 |
| Value after costs | $10,393 | $11,225 | $12,124 |
| Impact on return, per year | 1.07% | 1.07% | 1.07% |
MAHIX 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): 0.0014%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $4.5B
- Portfolio turnover (prospectus): 97%
- Securities on loan, average value: $7.0M
- Net income from securities lending: $67K (0.021% of average net assets)
MAHIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $3K | 60.06% |
| BofA Securities, Inc. | $939 | 20.31% |
| UBS Securities LLC | $904 | 19.55% |
| Citigroup Global Markets Inc. | $1 | 0.03% |
| William Blair & Company, L.L.C. | $1 | 0.03% |
| J.P. Morgan Securities LLC | $1 | 0.02% |
MAHIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $3.8B | 87.78% |
| Morgan Stanley & Co. LLC | $93.7M | 2.15% |
| BofA Securities, Inc. | $86.6M | 1.98% |
| J.P. Morgan Securities LLC | $76.7M | 1.76% |
| Mizuho Securities USA LLC | $59.5M | 1.36% |
| Barclays Capital Inc. | $52.5M | 1.20% |
| BNY Capital Markets, LLC | $52.1M | 1.19% |
| Goldman Sachs & Co. LLC | $47.2M | 1.08% |
| Wells Fargo Securities, LLC | $44.5M | 1.02% |
| MarketAxess Corporation | $21.1M | 0.48% |
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.