MASCX Fees and Costs — Victory Munder Small Cap Growth Fund, Class A
Data updated: 2022-11-29
The net expense ratio is 1.40%: a 0.85% management fee, a 0.25% 12b-1 fee plus 1.29% other expenses, less a 0.99% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2022 the fund paid $12K in broker commissions, 0.0788% of average net assets, and portfolio turnover was 36%.
MASCX Fees and Expenses
Annual operating expenses and sales charges of MASCX. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.29% |
| Gross expense ratio | 2.39% |
| Fee waiver | −0.99% |
| Net expense ratio | 1.40% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
MASCX Costs Over Time
On $10,000 invested in MASCX, assuming 5% a year before costs, total costs come to $1,597 over 5 years, cutting the return by 2.77% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.40%) | $139 | $430 | $742 |
| Trading costs (broker commissions) | $8 | $24 | $42 |
| Lost growth on money paid in costs | $29 | $113 | $238 |
| Total costs | $750 | $1,143 | $1,597 |
| Value after costs | $9,750 | $10,434 | $11,165 |
| Impact on return, per year | 7.50% | 3.57% | 2.77% |
MASCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0788%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $861K
- Portfolio turnover (prospectus): 36%
- Securities on loan, average value: $1.4M
- Net income from securities lending: $19K (0.123% of average net assets)
MASCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Robert W. Baird & Co. Incorporated | $2K | 15.49% |
| EVERCORE GROUP L.L.C. | $1K | 14.90% |
| Cowen and Company, LLC | $1K | 12.83% |
| Raymond James & Associates, Inc. | $1K | 12.03% |
| Susquehanna Securities | $972 | 9.94% |
| STEPHENS INC. | $954 | 9.75% |
| KeyCorp | $773 | 7.89% |
| Credit Suisse Securities (USA) LLC | $628 | 6.41% |
| J.P. Morgan Securities LLC | $543 | 5.55% |
| Loop Capital Markets LLC | $510 | 5.21% |
MASCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $478K | 55.58% |
| Morgan Stanley & Co. LLC | $213K | 24.75% |
| J.P. Morgan Securities LLC | $169K | 19.67% |
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.