ORILX Fees and Costs — North Square Multi Strategy Fund, Class A
Data updated: 2026-09-25
The net expense ratio is 1.53%. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2026 the fund paid $747 in broker commissions, 0.0019% of average net assets, and portfolio turnover was 16%.
ORILX Fees and Expenses
Annual operating expenses and sales charges of ORILX. Prospectus, as of September 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | — |
| Other expenses | 0.54% |
| Gross expense ratio | 1.53% |
| Fee waiver | — |
| Net expense ratio | 1.53% |
| 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 |
ORILX Costs Over Time
On $10,000 invested in ORILX, assuming 5% a year before costs, total costs come to $1,627 over 5 years, cutting the return by 2.83% 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 1.53%) | $151 | $470 | $810 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $29 | $114 | $241 |
| Total costs | $755 | $1,159 | $1,627 |
| Value after costs | $9,745 | $10,417 | $11,135 |
| Impact on return, per year | 7.55% | 3.63% | 2.83% |
ORILX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0019%
- Total broker commissions: $747
- Bought from dealers (principal trades, not a cost): $7.7M
- Portfolio turnover (prospectus): 16%
- Securities lending: none during the year
ORILX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PERSHING LLC | $461 | 61.73% |
| J.P. MORGAN SECURITIES LLC | $286 | 38.27% |
ORILX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS, INC. | $7.7M | 100.00% |
North Square Multi Strategy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PORYX | Class I | 1.34% | none |
| ORILX | Class A | 1.53% | 5.75% |
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.