PBMIX Fees and Costs — Polen U.S. SMID Company Growth Fund, Institutional Class
Data updated: 2025-09-23
The net expense ratio is 1.05%: a 1.00% management fee plus 1.09% other expenses, less a 1.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $9K in broker commissions, 0.0726% of average net assets, and portfolio turnover was 58%.
PBMIX Fees and Expenses
Annual operating expenses and sales charges of PBMIX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 1.09% |
| Gross expense ratio | 2.09% |
| Fee waiver | −1.04% |
| Net expense ratio | 1.05% |
| 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 |
PBMIX Costs Over Time
On $10,000 invested in PBMIX, assuming 5% a year before costs, total costs come to $700 over 5 years, cutting the return by 1.18% 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 1.05%) | $110 | $344 | $595 |
| Trading costs (broker commissions) | $8 | $24 | $41 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $118 | $386 | $700 |
| Value after costs | $10,382 | $11,191 | $12,062 |
| Impact on return, per year | 1.18% | 1.18% | 1.18% |
PBMIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0726%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 58%
- Securities lending: none during the year
PBMIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WILLIAM BLAIR & COMPANY, L.L.C. | $3K | 32.08% |
| Robert W. Baird & Co. Incorporated | $2K | 25.80% |
| Needham & Company, LLC | $954 | 11.21% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $883 | 10.37% |
| J.P. Morgan Securities LLC | $455 | 5.34% |
| PIPER SANDLER & CO. | $421 | 4.94% |
| VIRTU AMERICAS LLC | $303 | 3.56% |
| SANFORD C. BERNSTEIN & CO., LLC | $206 | 2.42% |
| JEFFERIES LLC | $194 | 2.28% |
| LIQUIDNET, INC. | $170 | 2.00% |
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.