RMLPX Fees and Costs — Recurrent MLP & Infrastructure Fund, Class I
Data updated: 2026-09-28
The net expense ratio is 1.13%: a 0.90% management fee plus 0.23% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $197K in broker commissions, 0.0175% of average net assets, and portfolio turnover was 12%.
RMLPX Fees and Expenses
Annual operating expenses and sales charges of RMLPX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.23% |
| Gross expense ratio | 1.13% |
| Fee waiver | — |
| Net expense ratio | 1.13% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
RMLPX Costs Over Time
On $10,000 invested in RMLPX, assuming 5% a year before costs, total costs come to $716 over 5 years, cutting the return by 1.20% 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 1.13%) | $119 | $370 | $640 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $19 | $66 |
| Total costs | $120 | $394 | $716 |
| Value after costs | $10,380 | $11,182 | $12,047 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
RMLPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0175%
- Total broker commissions: $197K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 12%
- Securities lending: none during the year
RMLPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs | $97K | 49.46% |
| Peters & Co. | $62K | 31.58% |
| Instinet, Inc. | $31K | 15.54% |
| JPMorgan Chase | $7K | 3.42% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.