RPNCX Fees and Costs — RiverPark/Next Century Growth Fund, Retail Class
Data updated: 2026-08-27
The net expense ratio is 1.40% (1.89% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $19K in broker commissions, 0.1556% of average net assets, and portfolio turnover was 93%.
RPNCX Fees and Expenses
Annual operating expenses and sales charges of RPNCX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | — |
| Other expenses | 0.68% |
| Gross expense ratio | 1.89% |
| Fee waiver | −0.49% |
| Net expense ratio | 1.40% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
RPNCX Costs Over Time
On $10,000 invested in RPNCX, assuming 5% a year before costs, total costs come to $962 over 5 years, cutting the return by 1.63% 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 1.40%) | $147 | $456 | $786 |
| Trading costs (broker commissions) | $16 | $51 | $87 |
| Lost growth on money paid in costs | $0 | $25 | $89 |
| Total costs | $163 | $532 | $962 |
| Value after costs | $10,337 | $11,044 | $11,801 |
| Impact on return, per year | 1.63% | 1.63% | 1.63% |
RPNCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1556%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $116K
- Portfolio turnover (prospectus): 93%
- Securities lending: none during the year
RPNCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Liquidnet | $4K | 24.33% |
| William Blair & Co. | $2K | 14.46% |
| COWEN | $2K | 13.51% |
| Piper Sandler | $2K | 12.76% |
| Canaccord Genuity | $1K | 7.87% |
| Stephens Inc. | $1K | 7.05% |
| Truist Financial Corp | $994 | 6.44% |
| Needham and Co. | $790 | 5.12% |
| Craig Hallum | $756 | 4.90% |
| RBC | $550 | 3.56% |
RPNCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JP MORGAN CHASE | $111K | 95.69% |
| MORGAN STANLEY | $5K | 4.31% |
RiverPark/Next Century Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RPNIX | Institutional Class | 1.15% | — |
| RPNCX | Retail Class | 1.40% | — |
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.