MVEBX Fees and Costs — Meritage Value Equity Fund, Institutional Shares
Data updated: 2020-07-27
The net expense ratio is 1.04% (1.76% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $35K in broker commissions, 0.2173% of average net assets, and portfolio turnover was 166%.
MVEBX Fees and Expenses
Annual operating expenses and sales charges of MVEBX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.97% |
| Gross expense ratio | 1.76% |
| Fee waiver | −0.72% |
| Net expense ratio | 1.04% |
| 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 |
MVEBX Costs Over Time
On $10,000 invested in MVEBX, assuming 5% a year before costs, total costs come to $782 over 5 years, cutting the return by 1.32% 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 1.04%) | $109 | $340 | $588 |
| Trading costs (broker commissions) | $23 | $71 | $123 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $132 | $431 | $782 |
| Value after costs | $10,368 | $11,145 | $11,980 |
| Impact on return, per year | 1.32% | 1.32% | 1.32% |
MVEBX 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): 0.2173%
- Total broker commissions: $35K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 166%
- Securities lending: none during the year
MVEBX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| FIS BROKERAGE and SECURITIES SERVICES | $17K | 50.23% |
| INSTINET LLC | $10K | 28.39% |
| CREDIT SUISSE SECURITIES LLC | $5K | 14.52% |
| JEFFERIES and CO. | $2K | 5.44% |
| WEEDEN and CO. | $491 | 1.42% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.