PPQMX Fees and Costs — MidCap Growth Fund III, Class R-3
Data updated: 2025-09-24
The net expense ratio is 1.37%: a 0.81% management fee, a 0.25% 12b-1 fee plus 0.33% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $411K in broker commissions, 0.0409% of average net assets, and portfolio turnover was 55%.
PPQMX Fees and Expenses
Annual operating expenses and sales charges of PPQMX. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.81% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.33% |
| Gross expense ratio | 1.39% |
| Fee waiver | −0.02% |
| Net expense ratio | 1.37% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 | No |
PPQMX Costs Over Time
On $10,000 invested in PPQMX, assuming 5% a year before costs, total costs come to $875 over 5 years, cutting the return by 1.48% 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 1.37%) | $144 | $447 | $772 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $23 | $81 |
| Total costs | $148 | $483 | $875 |
| Value after costs | $10,352 | $11,093 | $11,888 |
| Impact on return, per year | 1.48% | 1.48% | 1.48% |
PPQMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0409%
- Total broker commissions: $411K
- Bought from dealers (principal trades, not a cost): $3.1M
- Portfolio turnover (prospectus): 55%
- Securities on loan, average value: $1.3M
- Net income from securities lending: $10K (0.001% of average net assets)
PPQMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PIPER SANDLER COS | $75K | 26.98% |
| JEFFERIES & COMPANY | $28K | 10.12% |
| BLAIR WILLIAM AND COMPANY | $26K | 9.45% |
| J.P. MORGAN SECURITIES LLC | $26K | 9.44% |
| BARCLAYS CAPITAL INC. | $25K | 9.08% |
| RAYMOND JAMES & ASSOCIATES | $23K | 8.33% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $21K | 7.64% |
| BAIRD PATRICK & CO. | $19K | 6.83% |
| STIFEL NICOLAUS & COMPANY | $17K | 6.22% |
| RBC DOMINION SECURITIES CORP. | $16K | 5.90% |
PPQMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS CO. | $1.9M | 62.47% |
| JEFFERIES & COMPANY | $1.1M | 34.61% |
| CIBC WORLD MARKETS CORP | $90K | 2.93% |
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.