PICMX Fees and Costs — Virtus KAR Mid-Cap Growth Fund, Class I
Data updated: 2026-08-28
The net expense ratio is 1.03%: a 0.74% management fee plus 0.29% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $991K in broker commissions, 0.0679% of average net assets, and portfolio turnover was 27%.
PICMX Fees and Expenses
Annual operating expenses and sales charges of PICMX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.74% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.29% |
| Gross expense ratio | 1.03% |
| Fee waiver | — |
| Net expense ratio | 1.03% |
| 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 | Yes |
PICMX Costs Over Time
On $10,000 invested in PICMX, assuming 5% a year before costs, total costs come to $685 over 5 years, cutting the return by 1.15% 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 1.03%) | $108 | $337 | $584 |
| Trading costs (broker commissions) | $7 | $22 | $38 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $115 | $377 | $685 |
| Value after costs | $10,385 | $11,199 | $12,077 |
| Impact on return, per year | 1.15% | 1.15% | 1.15% |
PICMX 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): 0.0679%
- Total broker commissions: $991K
- Bought from dealers (principal trades, not a cost): $2.5M
- Portfolio turnover (prospectus): 27%
- Securities lending: none during the year
PICMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $693K | 71.90% |
| Raymond James & Associates, Inc. | $53K | 5.49% |
| LIQUIDNET, INC. | $36K | 3.73% |
| SANFORD C. BERNSTEIN & CO., LLC | $36K | 3.69% |
| JEFFERIES LLC | $29K | 2.97% |
| BOFA SECURITIES, INC. | $28K | 2.94% |
| GOLDMAN SACHS & CO. LLC | $27K | 2.79% |
| BARCLAYS CAPITAL, INC. | $23K | 2.40% |
| WELLS FARGO SECURITIES, LLC | $22K | 2.32% |
| WILLIAM BLAIR | $17K | 1.77% |
PICMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $2.5M | 100.00% |
Virtus KAR Mid-Cap Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VRMGX | Class R6 | 0.83% | none |
| PICMX | Class I | 1.03% | none |
| PHSKX | Class A | 1.26% | 5.50% |
| PSKCX | Class C | 2.04% | 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.