OWLLX Fees and Costs — Channing Intrinsic Value Small-Cap Fund, Institutional Class
Data updated: 2026-09-29
The net expense ratio is 0.95%: a 0.70% management fee plus 2.47% other expenses, less a 2.22% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $8K in broker commissions, 0.0837% of average net assets, and portfolio turnover was 76%.
OWLLX Fees and Expenses
Annual operating expenses and sales charges of OWLLX. Prospectus, as of June 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 2.47% |
| Gross expense ratio | 3.17% |
| Fee waiver | −2.22% |
| Net expense ratio | 0.95% |
| 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 |
OWLLX Costs Over Time
On $10,000 invested in OWLLX, assuming 5% a year before costs, total costs come to $646 over 5 years, cutting the return by 1.09% 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 0.95%) | $100 | $311 | $539 |
| Trading costs (broker commissions) | $9 | $27 | $48 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $109 | $355 | $646 |
| Value after costs | $10,391 | $11,221 | $12,117 |
| Impact on return, per year | 1.09% | 1.09% | 1.09% |
OWLLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0837%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
OWLLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wall Street Access | $905 | 17.71% |
| Jefferies & Co. | $874 | 17.09% |
| Cabrera Capital Markets | $677 | 13.25% |
| Loop Capital Markets, LLC | $643 | 12.59% |
| KeyBanc Capital Markets Inc. | $570 | 11.15% |
| Raymond James & Associates, Inc. | $422 | 8.25% |
| Baird (Robert W.) & Company Inc. | $281 | 5.49% |
| STEPHENS INC. | $272 | 5.32% |
| PIPER SANDLER & CO | $242 | 4.73% |
| STIFEL NICOLAUS & COMPANY | $226 | 4.42% |
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.