MRAGX Fees and Costs — Meridian Growth Fund, Class A
Data updated: 2026-09-03
The net expense ratio is 1.23%: a 0.76% management fee, a 0.25% 12b-1 fee plus 0.22% other expenses. This share class carries a maximum front-end sales load of 5.75% and a redemption fee of 2.00%. In fiscal 2026 the fund paid $770K in broker commissions, 0.1232% of average net assets, and portfolio turnover was 26%.
MRAGX Fees and Expenses
Annual operating expenses and sales charges of MRAGX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.76% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.22% |
| Gross expense ratio | 1.23% |
| Fee waiver | — |
| Net expense ratio | 1.23% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MRAGX Costs Over Time
On $10,000 invested in MRAGX, assuming 5% a year before costs, total costs come to $1,526 over 5 years, cutting the return by 2.64% 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 1.23%) | $122 | $378 | $654 |
| Trading costs (broker commissions) | $12 | $38 | $65 |
| Lost growth on money paid in costs | $29 | $111 | $232 |
| Total costs | $738 | $1,103 | $1,526 |
| Value after costs | $9,762 | $10,474 | $11,237 |
| Impact on return, per year | 7.38% | 3.45% | 2.64% |
MRAGX 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): 0.1232%
- Total broker commissions: $770K
- Bought from dealers (principal trades, not a cost): $660.3M
- Portfolio turnover (prospectus): 26%
- Securities on loan, average value: $39.8M
- Net income from securities lending: $215K (0.034% of average net assets)
MRAGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $256K | 37.29% |
| Raymond James & Associates, Inc. | $136K | 19.73% |
| TD SECURITIES (USA) LLC | $53K | 7.76% |
| WILLIAM BLAIR & COMPANY, L.L.C. | $53K | 7.75% |
| GOLDMAN SACHS & CO. LLC | $48K | 7.01% |
| PIPER SANDLER & CO. | $40K | 5.75% |
| MORGAN STANLEY & CO. LLC | $30K | 4.31% |
| Stephens, Inc. | $28K | 4.07% |
| Kaufman & Company, LLC | $22K | 3.22% |
| OPPENHEIMER & CO. INC. | $21K | 3.11% |
MRAGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs Financial Square Government Fund | $614.2M | 93.01% |
| JEFFERIES LLC | $16.2M | 2.46% |
| GOLDMAN SACHS & CO. LLC | $12.8M | 1.94% |
| MORGAN STANLEY & CO. LLC | $10.5M | 1.60% |
| BARCLAYS CAPITAL, INC. | $5.1M | 0.78% |
| PIPER SANDLER & CO. | $1.4M | 0.21% |
Meridian Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MRRGX | Institutional Class | 0.88% | none |
| MERDX | Legacy Class | 0.91% | none |
| MRIGX | Investor Class | 0.96% | none |
| MRAGX | Class A | 1.23% | 5.75% |
| MRCGX | Class C | 1.93% | 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.