PMUBX Fees and Costs — Penn Mutual AM Strategic Income Fund, I Shares
Data updated: 2025-11-25
The net expense ratio is 0.73%: a 0.45% management fee plus 0.28% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $219 in broker commissions, 0.0002% of average net assets, and portfolio turnover was 63%.
PMUBX Fees and Expenses
Annual operating expenses and sales charges of PMUBX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.28% |
| Gross expense ratio | 0.73% |
| Fee waiver | — |
| Net expense ratio | 0.73% |
| 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 |
PMUBX Costs Over Time
On $10,000 invested in PMUBX, assuming 5% a year before costs, total costs come to $459 over 5 years, cutting the return by 0.77% 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 0.73%) | $77 | $240 | $417 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $77 | $252 | $459 |
| Value after costs | $10,423 | $11,325 | $12,304 |
| Impact on return, per year | 0.77% | 0.77% | 0.77% |
PMUBX 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): 0.0002%
- Total broker commissions: $219
- Bought from dealers (principal trades, not a cost): $66.4M
- Portfolio turnover (prospectus): 63%
- Securities lending: none during the year
PMUBX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO | $219 | 100.00% |
PMUBX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP | $20.7M | 33.55% |
| BNP PARIBAS | $9.0M | 14.56% |
| WELLS FARGO | $6.1M | 9.95% |
| GOLDMAN, SACHS & CO | $5.8M | 9.47% |
| MORGAN STANLEY & CO, INC | $5.4M | 8.75% |
| PERSHING LLC | $4.9M | 8.00% |
| MONTGOMERY/BANK OF AMERICA | $4.5M | 7.31% |
| J P MORGAN CHASE BANK | $2.0M | 3.25% |
| SOCIETE GENERALE | $1.7M | 2.72% |
| DEUTSCHE BANK SECURITIES, INC. | $1.5M | 2.44% |
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.