MPGEX Fees and Costs — Meritage Growth Equity Fund, Investor Shares
Data updated: 2020-07-31
The net expense ratio is 1.28% (1.78% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $17K in broker commissions, 0.0607% of average net assets, and portfolio turnover was 70%.
MPGEX Fees and Expenses
Annual operating expenses and sales charges of MPGEX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.75% |
| Gross expense ratio | 1.78% |
| Fee waiver | −0.50% |
| Net expense ratio | 1.28% |
| 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 |
MPGEX Costs Over Time
On $10,000 invested in MPGEX, assuming 5% a year before costs, total costs come to $833 over 5 years, cutting the return by 1.41% 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 1.28%) | $134 | $418 | $722 |
| Trading costs (broker commissions) | $6 | $20 | $34 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $141 | $459 | $833 |
| Value after costs | $10,359 | $11,117 | $11,930 |
| Impact on return, per year | 1.41% | 1.41% | 1.41% |
MPGEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0607%
- Total broker commissions: $17K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 70%
- Securities lending: none during the year
MPGEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET LLC | $10K | 58.48% |
| FIS BROKERAGE and SECURITIES SERVICES | $3K | 18.41% |
| CREDIT SUISSE SECURITIES LLC | $3K | 15.01% |
| WEEDEN and CO. | $829 | 4.83% |
| JEFFERIES and CO. | $563 | 3.28% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.