TFRIX Fees and Costs — Terra Firma US Concentrated Realty Equity Fund, Institutional Class
Data updated: 2025-03-13
The net expense ratio is 1.00%: a 0.75% management fee plus 1.52% other expenses, less a 1.27% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $1K in broker commissions, 0.0051% of average net assets, and portfolio turnover was 58%.
TFRIX Fees and Expenses
Annual operating expenses and sales charges of TFRIX. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.52% |
| Gross expense ratio | 2.27% |
| Fee waiver | −1.27% |
| Net expense ratio | 1.00% |
| 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 |
TFRIX Costs Over Time
On $10,000 invested in TFRIX, assuming 5% a year before costs, total costs come to $629 over 5 years, cutting the return by 1.06% 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 1.00%) | $105 | $328 | $568 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $106 | $346 | $629 |
| Value after costs | $10,394 | $11,231 | $12,134 |
| Impact on return, per year | 1.06% | 1.06% | 1.06% |
TFRIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0051%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 58%
- Securities lending: none during the year
TFRIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Interactive Brokers LLC | $1K | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.