Current liabilities
include notes
payable on lines of credit or other short - term loans, current maturities of long - term debt, accounts
payable to
trade creditors, accrued expenses and taxes (an accrual is an expense such as the payroll that is due to employees for hours worked but has not been paid), and amounts due to stockholders.
Clients will incur transaction costs for any
trading in their account (
including quarterly rebalance
trades) such as commissions
payable to Interactive Brokers LLC, IB Asset Management's affiliated broker - dealer, which is a conflict of interest.
Under the terms of the Advisory Agreement, each Fund is responsible for the payment of the following expenses among others: (a) the fees
payable to the Adviser, (b) the fees and expenses of Trustees who are not affiliated persons of the Adviser or Distributor (as defined under the section entitled («The Distributor»)(c) the fees and certain expenses of the Custodian (as defined under the section entitled «Custodian») and Transfer and Dividend Disbursing Agent (as defined under the section entitled «Transfer Agent»),
including the cost of maintaining certain required records of the Fund and of pricing the Fund's shares, (d) the charges and expenses of legal counsel and independent accountants for the Fund, (e) brokerage commissions and any issue or transfer taxes chargeable to the Fund in connection with its securities transactions, (f) all taxes and corporate fees
payable by the Fund to governmental agencies, (g) the fees of any
trade association of which the Fund may be a member, (h) the cost of fidelity and liability insurance, (i) the fees and expenses involved in registering and maintaining registration of the Fund and of shares with the SEC, qualifying its shares under state securities laws,
including the preparation and printing of the Fund's registration statements and prospectuses for such purposes, (j) all expenses of shareholders and Trustees» meetings (
including travel expenses of trustees and officers of the Trust who are not directors,