SEMIX Fees and Costs — Medalist Partners Short Duration Fund, Institutional Class
Data updated: 2026-07-28
The net expense ratio is 0.61%. There are no sales loads or redemption fees. Portfolio turnover was 86%.
SEMIX Fees and Expenses
Annual operating expenses and sales charges of SEMIX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.25% |
| Gross expense ratio | — |
| Fee waiver | −0.01% |
| Net expense ratio | 0.61% |
| 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 |
SEMIX Costs Over Time
On $10,000 invested in SEMIX, assuming 5% a year before costs, total costs come to $385 over 5 years, cutting the return by 0.64% 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 0.61%) | $64 | $201 | $349 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $211 | $385 |
| Value after costs | $10,436 | $11,366 | $12,378 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
SEMIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 86%
- Securities lending: none during the year
SEMIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Pershing LLC | $96.1M | 21.69% |
| GOLDMAN SACHS & CO. LLC | $87.2M | 19.69% |
| SCOTIA CAPITAL (USA) INC. | $55.6M | 12.55% |
| BARCLAYS CAPITAL INC. | $42.4M | 9.57% |
| DEUTSCHE BANK SECURITIES INC. | $35.1M | 7.91% |
| CANTOR FITZGERALD & CO. | $32.7M | 7.38% |
| STONEX FINANCIAL INC | $25.4M | 5.73% |
| BOFA SECURITIES, INC. | $24.8M | 5.61% |
| JEFFERIES LLC | $22.0M | 4.96% |
| SANTANDER US CAPITAL MARKETS | $21.9M | 4.94% |
Medalist Partners Short Duration Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SEMIX | Institutional Class | 0.61% | — |
| SEMRX | Investor Class | 0.86% | — |
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.