PBIIX Fees and Costs — Polen International Small Company Growth Fund, Institutional Class
Data updated: 2023-09-27
The net expense ratio is 1.25%: a 1.00% management fee plus 0.60% other expenses, less a 0.35% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $12K in broker commissions, 0.0630% of average net assets, and portfolio turnover was 51%.
PBIIX Fees and Expenses
Annual operating expenses and sales charges of PBIIX. Prospectus, as of August 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.60% |
| Gross expense ratio | 1.60% |
| Fee waiver | −0.35% |
| Net expense ratio | 1.25% |
| 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 |
PBIIX Costs Over Time
On $10,000 invested in PBIIX, assuming 5% a year before costs, total costs come to $816 over 5 years, cutting the return by 1.38% 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 1.25%) | $131 | $408 | $706 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $450 | $816 |
| Value after costs | $10,362 | $11,126 | $11,947 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
PBIIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0630%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 51%
- Securities lending: none during the year
PBIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $5K | 44.37% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $2K | 17.57% |
| PERSHING LLC | $2K | 13.00% |
| INSTINET, LLC | $1K | 11.71% |
| BNP Paribas Securities Corp. | $346 | 2.98% |
| LIQUIDNET, INC. | $341 | 2.94% |
| Berenberg Capital Markets LLC | $338 | 2.92% |
| U.S. BANCORP INVESTMENTS, INC. | $285 | 2.46% |
| KB Securities Co., Ltd | $137 | 1.18% |
| MORGAN STANLEY & CO. LLC | $101 | 0.87% |
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.