RPNRX Fees and Costs — RiverPark/Next Century Large Growth Fund, Retail Class Shares
Data updated: 2026-08-27
The net expense ratio is 1.25%: a 0.65% management fee plus 1.57% other expenses, less a 0.97% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $911 in broker commissions, 0.0313% of average net assets, and portfolio turnover was 75%.
RPNRX Fees and Expenses
Annual operating expenses and sales charges of RPNRX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 1.57% |
| Gross expense ratio | 2.22% |
| Fee waiver | −0.97% |
| Net expense ratio | 1.25% |
| 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 |
RPNRX Costs Over Time
On $10,000 invested in RPNRX, assuming 5% a year before costs, total costs come to $797 over 5 years, cutting the return by 1.35% 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 1.25%) | $131 | $408 | $706 |
| Trading costs (broker commissions) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $135 | $439 | $797 |
| Value after costs | $10,365 | $11,137 | $11,966 |
| Impact on return, per year | 1.35% | 1.35% | 1.35% |
RPNRX 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): 0.0313%
- Total broker commissions: $911
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 75%
- Securities lending: none during the year
RPNRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Piper Sandler | $187 | 22.39% |
| Stephens Inc. | $140 | 16.82% |
| Oppenheimer | $95 | 11.40% |
| R.W. Baird | $86 | 10.34% |
| Liquidnet | $82 | 9.80% |
| William Blair & Co. | $77 | 9.22% |
| Jefferies & Company | $63 | 7.54% |
| RBC | $36 | 4.34% |
| Keybanc | $35 | 4.26% |
| Raymond James | $32 | 3.90% |
RiverPark/Next Century Large 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 |
|---|---|---|---|
| RPNLX | Institutional Class Shares | 1.00% | — |
| RPNRX | Retail Class Shares | 1.25% | — |
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.