PFPFX Fees and Costs — Poplar Forest Partners Fund, Class A
Data updated: 2026-08-28
The net expense ratio is 1.21%: a 0.80% management fee, a 0.25% 12b-1 fee plus 0.25% other expenses, less a 0.09% fee waiver. This share class carries a maximum front-end sales load of 5.00%. In fiscal 2024 the fund paid $115K in broker commissions, 0.0373% of average net assets, and portfolio turnover was 26%.
PFPFX Fees and Expenses
Annual operating expenses and sales charges of PFPFX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.25% |
| Gross expense ratio | 1.30% |
| Fee waiver | −0.09% |
| Net expense ratio | 1.21% |
| Sales charges | |
|---|---|
| Max front load | 5.00% |
| 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 |
PFPFX Costs Over Time
On $10,000 invested in PFPFX, assuming 5% a year before costs, total costs come to $1,376 over 5 years, cutting the return by 2.37% 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 | $500 | $500 | $500 |
| Fund expenses (net expense ratio 1.21%) | $121 | $376 | $650 |
| Trading costs (broker commissions) | $4 | $12 | $20 |
| Lost growth on money paid in costs | $25 | $98 | $206 |
| Total costs | $649 | $985 | $1,376 |
| Value after costs | $9,851 | $10,591 | $11,387 |
| Impact on return, per year | 6.49% | 3.07% | 2.37% |
PFPFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0373%
- Total broker commissions: $115K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 26%
- Securities lending: none during the year
PFPFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JONES TRADING INSTITUTIONAL SERVICES LLC | $43K | 36.78% |
| MORGAN STANLEY & CO. LLC | $17K | 14.89% |
| SANFORD C. BERNSTEIN & CO., LLC | $16K | 14.17% |
| EVERCORE GROUP L.L.C. | $14K | 11.65% |
| STIFEL NICOLAUS and COMPANY INCORPORATED | $8K | 7.16% |
| BARCLAYS CAPITAL INC. | $7K | 6.44% |
| UBS SECURITIES LLC | $5K | 4.54% |
| WELLS FARGO SECURITIES, LLC | $4K | 3.80% |
| BERNARD HEROLD & CO. INC. | $630 | 0.54% |
| UBS ASSET MANAGEMENT INC. | $25 | 0.02% |
Poplar Forest Partners Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| IPFPX | Institutional Class | 0.96% | none |
| PFPFX | Class A | 1.21% | 5.00% |
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.