PAXGX Fees and Costs — Impax Global Opportunities Fund, Investor Class
Data updated: 2026-08-19
The net expense ratio is 1.23%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.28% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $82K in broker commissions, 0.0639% of average net assets, and portfolio turnover was 49%.
PAXGX Fees and Expenses
Annual operating expenses and sales charges of PAXGX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.28% |
| Gross expense ratio | 1.23% |
| Fee waiver | — |
| Net expense ratio | 1.23% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 | No |
PAXGX Costs Over Time
On $10,000 invested in PAXGX, assuming 5% a year before costs, total costs come to $805 over 5 years, cutting the return by 1.36% 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 1.23%) | $129 | $402 | $695 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $136 | $444 | $805 |
| Value after costs | $10,364 | $11,133 | $11,958 |
| Impact on return, per year | 1.36% | 1.36% | 1.36% |
PAXGX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0639%
- Total broker commissions: $82K
- Bought from dealers (principal trades, not a cost): $79.3M
- Portfolio turnover (prospectus): 49%
- Securities on loan, average value: $1.4M
- Net income from securities lending: $2K (0.002% of average net assets)
PAXGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $22K | 26.84% |
| Morgan Stanley & Co. LLC | $21K | 25.98% |
| BofA Securities, Inc. | $17K | 21.21% |
| Barclays Capital, Inc. | $10K | 12.33% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $4K | 4.50% |
| Goldman Sachs & Co. LLC | $2K | 2.83% |
| ABN AMRO Clearing Chicago LLC | $2K | 2.71% |
| Liquidnet, Inc. | $987 | 1.23% |
| Optiver V.O.F. | $962 | 1.20% |
| ROBERT W. BAIRD & CO. INCORPORATED | $946 | 1.18% |
PAXGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $79.3M | 100.00% |
Impax Global Opportunities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PXGOX | Institutional Class | 0.98% | none |
| PAXGX | Investor Class | 1.23% | 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.