WCMEX Fees and Costs — WCM Focused Emerging Markets Fund, Institutional Class
Data updated: 2026-08-27
The net expense ratio is 1.25%: a 1.00% management fee plus 0.38% other expenses, less a 0.13% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.6M in broker commissions, 0.1881% of average net assets, and portfolio turnover was 57%.
WCMEX Fees and Expenses
Annual operating expenses and sales charges of WCMEX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.38% |
| Gross expense ratio | 1.38% |
| Fee waiver | −0.13% |
| Net expense ratio | 1.25% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
WCMEX Costs Over Time
On $10,000 invested in WCMEX, assuming 5% a year before costs, total costs come to $892 over 5 years, cutting the return by 1.51% 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 | $704 |
| Trading costs (broker commissions) | $20 | $61 | $106 |
| Lost growth on money paid in costs | $0 | $23 | $82 |
| Total costs | $151 | $492 | $892 |
| Value after costs | $10,349 | $11,084 | $11,871 |
| Impact on return, per year | 1.51% | 1.51% | 1.51% |
WCMEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1881%
- Total broker commissions: $1.6M
- Bought from dealers (principal trades, not a cost): $889.1M
- Portfolio turnover (prospectus): 57%
- Securities lending: none during the year
WCMEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| HSBC SECURITIES (USA) INC. | $356K | 28.23% |
| J.P. MORGAN SECURITIES LLC | $257K | 20.35% |
| ITAU BBA USA SECURITIES, INC. | $225K | 17.83% |
| CLSA AMERICAS, LLC | $78K | 6.22% |
| LIQUIDNET, INC. | $65K | 5.19% |
| KOREA INVESTMENT & SECURITIES AMERICA, INC. | $62K | 4.93% |
| Investec Inc. | $60K | 4.74% |
| MORGAN STANLEY | $56K | 4.45% |
| BIDS TRADING L.P. | $52K | 4.12% |
| UBS SECURITIES LLC | $50K | 3.95% |
WCMEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BROWN BROTHERS HARRIMAN & CO. | $878.5M | 98.81% |
| KOTAK MAHINDRA (UK) LIMITED | $6.6M | 0.74% |
| MORGAN STANLEY | $3.9M | 0.44% |
| BNP PARIBAS SECURITIES CORP. | $129K | 0.01% |
WCM Focused Emerging Markets Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| WCMEX | Institutional Class | 1.25% | none |
| WFEMX | Investor Class | 1.50% | none |
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.