POLCX Fees and Costs — Polar Capital Emerging Markets Ex-China Stars Fund
Data updated: 2026-02-26
The net expense ratio is 1.00%: a 0.90% management fee plus 25.75% other expenses, less a 25.65% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $895 in broker commissions, 0.0781% of average net assets, and portfolio turnover was 47%.
POLCX Fees and Expenses
Annual operating expenses and sales charges of POLCX. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 25.75% |
| Gross expense ratio | 26.65% |
| Fee waiver | −25.65% |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
POLCX Costs Over Time
On $10,000 invested in POLCX, assuming 5% a year before costs, total costs come to $673 over 5 years, cutting the return by 1.13% 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 1.00%) | $105 | $327 | $567 |
| Trading costs (broker commissions) | $8 | $26 | $44 |
| Lost growth on money paid in costs | $0 | $17 | $62 |
| Total costs | $113 | $370 | $673 |
| Value after costs | $10,387 | $11,206 | $12,090 |
| Impact on return, per year | 1.13% | 1.13% | 1.13% |
POLCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0781%
- Total broker commissions: $895
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 47%
- Securities lending: none during the year
POLCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CLSA (UK) | $154 | 17.26% |
| JEFFERIES INTERNATIONAL LTD | $143 | 16.03% |
| MORGAN STANLEY & CO. INTERNATIONAL PLC | $132 | 14.78% |
| MAYBANK KIM ENG SECURITIES PTE LTD | $122 | 13.63% |
| UBS EUROPE SE | $94 | 10.48% |
| Merrill Lynch International | $71 | 7.89% |
| XP INVESTMENTS US, LLC | $62 | 6.93% |
| J.P. Morgan Securities PLC | $59 | 6.58% |
| ITAU BBA INTERNATIONAL PLC | $37 | 4.15% |
| GOLDMAN SACHS INTERNATIONAL | $20 | 2.26% |
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.