PGSLX Fees and Costs — Global Listed Infrastructure Fund, Institutional Class
Data updated: 2026-07-24
The net expense ratio is 0.66%: a 0.75% management fee plus 0.19% other expenses, less a 0.29% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $96K in broker commissions, 0.2075% of average net assets, and portfolio turnover was 37%.
PGSLX Fees and Expenses
Annual operating expenses and sales charges of PGSLX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.19% |
| Gross expense ratio | 0.95% |
| Fee waiver | −0.29% |
| Net expense ratio | 0.66% |
| 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 | No |
PGSLX Costs Over Time
On $10,000 invested in PGSLX, assuming 5% a year before costs, total costs come to $544 over 5 years, cutting the return by 0.91% 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 0.66%) | $69 | $217 | $376 |
| Trading costs (broker commissions) | $22 | $68 | $118 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $91 | $299 | $544 |
| Value after costs | $10,409 | $11,278 | $12,219 |
| Impact on return, per year | 0.91% | 0.91% | 0.91% |
PGSLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2075%
- Total broker commissions: $96K
- Bought from dealers (principal trades, not a cost): $2K
- Portfolio turnover (prospectus): 37%
- Securities on loan, average value: $909K
- Net income from securities lending: $6K (0.014% of average net assets)
PGSLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $11K | 15.80% |
| CIBC WORLD MARKETS CORP | $9K | 13.62% |
| LIQUIDNET | $9K | 12.52% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $8K | 12.13% |
| JEFFERIES & COMPANY | $8K | 11.24% |
| STATE STREET FINANCIAL GLOBAL MARKETS | $7K | 9.58% |
| VIRTU FINANCIAL LLC | $6K | 8.33% |
| RBC DOMINION SECURITIES CORP. | $5K | 6.82% |
| CANACCORD ADAMS INC. | $4K | 5.16% |
| UBS SECURITIES LLC | $3K | 4.80% |
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.