MFCIX Fees and Costs — Meridian Contrarian Fund, Investor Class
Data updated: 2026-09-03
The net expense ratio is 1.21%: a 1.00% management fee plus 0.20% other expenses. This share class carries a redemption fee of 2.00%. In fiscal 2026 the fund paid $999K in broker commissions, 0.1626% of average net assets, and portfolio turnover was 38%.
MFCIX Fees and Expenses
Annual operating expenses and sales charges of MFCIX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.21% |
| Fee waiver | — |
| Net expense ratio | 1.21% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
MFCIX Costs Over Time
On $10,000 invested in MFCIX, assuming 5% a year before costs, total costs come to $852 over 5 years, cutting the return by 1.44% 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 1.21%) | $127 | $395 | $682 |
| Trading costs (broker commissions) | $17 | $53 | $92 |
| Lost growth on money paid in costs | $0 | $22 | $78 |
| Total costs | $144 | $470 | $852 |
| Value after costs | $10,356 | $11,106 | $11,911 |
| Impact on return, per year | 1.44% | 1.44% | 1.44% |
MFCIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1626%
- Total broker commissions: $999K
- Bought from dealers (principal trades, not a cost): $372.5M
- Portfolio turnover (prospectus): 38%
- Securities on loan, average value: $50.4M
- Net income from securities lending: $480K (0.078% of average net assets)
MFCIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $436K | 50.31% |
| Raymond James & Associates, Inc. | $88K | 10.19% |
| TD SECURITIES (USA) LLC | $84K | 9.72% |
| BOFA SECURITIES, INC. | $54K | 6.27% |
| Craig-Hallum Capital Group LLC | $43K | 5.01% |
| EVERCORE GROUP L.L.C. | $41K | 4.75% |
| PERSHING LLC | $40K | 4.56% |
| Kaufman & Company, LLC | $30K | 3.42% |
| WILLIAM BLAIR & COMPANY, L.L.C. | $25K | 2.92% |
| BARCLAYS CAPITAL, INC. | $25K | 2.85% |
MFCIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs Financial Square Government Fund | $365.3M | 98.07% |
| ArrowMark Colorado Holdings, LLC | $6.0M | 1.61% |
| MORGAN STANLEY & COMPANY LLC | $1.2M | 0.32% |
Meridian Contrarian Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MFCRX | C000132944 | 1.10% | none |
| MVALX | Legacy Class | 1.18% | none |
| MFCIX | Investor Class | 1.21% | none |
| MFCAX | Class A | 1.47% | 5.75% |
| MFCCX | Class C | 2.25% | 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.