PMEFX Fees and Costs — Penn Mutual Am 1847 Income Fund, I Shares
Data updated: 2025-11-25
The net expense ratio is 0.65%: a 0.45% management fee plus 0.47% other expenses, less a 0.27% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $19K in broker commissions, 0.0362% of average net assets.
PMEFX Fees and Expenses
Annual operating expenses and sales charges of PMEFX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.47% |
| Gross expense ratio | 0.92% |
| Fee waiver | −0.27% |
| Net expense ratio | 0.65% |
| 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 |
PMEFX Costs Over Time
On $10,000 invested in PMEFX, assuming 5% a year before costs, total costs come to $432 over 5 years, cutting the return by 0.72% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $72 | $237 | $432 |
| Value after costs | $10,428 | $11,340 | $12,331 |
| Impact on return, per year | 0.72% | 0.72% | 0.72% |
PMEFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0362%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $22.1M
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
PMEFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BAML | $13K | 67.67% |
| ABEL NOSER CORPORATION | $5K | 24.56% |
| NATIONAL FINANCIAL SERVICES CORPORATION | $1K | 7.46% |
| EUROPEAN AMERICAN SECURITIES INC. | $60 | 0.31% |
PMEFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP | $5.4M | 25.59% |
| WELLS FARGO | $3.5M | 16.37% |
| PERSHING LLC | $3.0M | 13.99% |
| JEFFERIES LLC | $2.7M | 12.66% |
| RBC CAPITAL | $1.8M | 8.29% |
| MONTGOMERY/BANK OF AMERICA | $1.5M | 7.07% |
| BAIRD, ROBERT W., & CO., INCORPORATED | $1.4M | 6.60% |
| MKM PARTNERS | $911K | 4.30% |
| US BANCORP INVESTMENTS INC. | $639K | 3.01% |
| BAML | $450K | 2.12% |
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.