RAMSX Fees and Costs — Roumell Opportunistic Value Fund, Institutional Class Shares
Data updated: 2025-01-23
The net expense ratio is 1.28% (1.46% before fee waivers). This share class carries a redemption fee of 1.00%. In fiscal 2024 the fund paid $149K in broker commissions, 0.1802% of average net assets, and portfolio turnover was 55%.
RAMSX Fees and Expenses
Annual operating expenses and sales charges of RAMSX. Prospectus, as of December 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.92% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.49% |
| Gross expense ratio | 1.46% |
| Fee waiver | −0.18% |
| Net expense ratio | 1.28% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
RAMSX Costs Over Time
On $10,000 invested in RAMSX, assuming 5% a year before costs, total costs come to $905 over 5 years, cutting the return by 1.53% 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 1.28%) | $134 | $417 | $720 |
| Trading costs (broker commissions) | $19 | $59 | $101 |
| Lost growth on money paid in costs | $0 | $24 | $83 |
| Total costs | $153 | $500 | $905 |
| Value after costs | $10,347 | $11,077 | $11,858 |
| Impact on return, per year | 1.53% | 1.53% | 1.53% |
RAMSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1802%
- Total broker commissions: $149K
- Bought from dealers (principal trades, not a cost): $332.6M
- Portfolio turnover (prospectus): 55%
- Securities lending: none during the year
RAMSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Raymond James Financial Services, Inc. | $112K | 75.01% |
| Lake Street Capital Markets, LLC | $11K | 7.29% |
| Needham & Company, LLC | $9K | 6.30% |
| Craig-Hallum Capital Group LLC | $8K | 5.32% |
| Johnson Rice & Company, L.L.C. | $4K | 2.90% |
| B. Riley Securities, Inc. | $3K | 1.85% |
| Oppenheimer & Co. Inc. | $1K | 0.94% |
| Ladenburg Thalmann & Co. Inc. | $600 | 0.40% |
RAMSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UMB Bank, n.a. | $322.7M | 97.02% |
| Raymond James Financial Services, Inc. | $9.9M | 2.98% |
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.