POPFX Fees and Costs — Prospector Opportunity Fund
Data updated: 2026-03-12
The net expense ratio is 1.16%: a 1.00% management fee, a 0.08% 12b-1 fee plus 0.23% other expenses, less a 0.16% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2025 the fund paid $211K in broker commissions, 0.0834% of average net assets, and portfolio turnover was 27%.
POPFX Fees and Expenses
Annual operating expenses and sales charges of POPFX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.08% |
| Other expenses | 0.23% |
| Gross expense ratio | 1.32% |
| Fee waiver | −0.16% |
| Net expense ratio | 1.16% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
POPFX Costs Over Time
On $10,000 invested in POPFX, assuming 5% a year before costs, total costs come to $774 over 5 years, cutting the return by 1.31% 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 1.16%) | $122 | $379 | $656 |
| Trading costs (broker commissions) | $9 | $27 | $47 |
| Lost growth on money paid in costs | $0 | $20 | $71 |
| Total costs | $131 | $426 | $774 |
| Value after costs | $10,369 | $11,150 | $11,989 |
| Impact on return, per year | 1.31% | 1.31% | 1.31% |
POPFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0834%
- Total broker commissions: $211K
- Bought from dealers (principal trades, not a cost): $563.0M
- Portfolio turnover (prospectus): 27%
- Securities lending: none during the year
POPFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PERSHING LLC | $30K | 16.40% |
| MORGAN STANLEY & CO. LLC | $30K | 16.17% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $27K | 14.42% |
| RAYMOND JAMES & ASSOCIATES INC. | $25K | 13.23% |
| STIFEL NICOLAUS & CO. INC. | $24K | 12.87% |
| UBS SECURITIES LLC | $15K | 7.85% |
| JEFFERIES LLC | $13K | 7.06% |
| CITIGROUP GLOBAL MARKETS INC. | $11K | 6.19% |
| ROBERT W. BAIRD & CO. INCORPORATED | $6K | 3.14% |
| KEEFE BRUYETTE & WOODS INC. | $5K | 2.67% |
POPFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|
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.