Things can get tricky here because most annuities don't break out
operating fees and expenses.
The Fund will bear a proportionate share of the REIT's ongoing
operating fees and expenses, which may include management, operating and administrative expenses in addition to the expenses of the Fund.
The gross annual expense ratio as disclosed in the November 1, 2017 Prospectus is 0.86 % and represents
operating fees and expenses (including acquired fund fees and expenses) incurred by the Fund during the fiscal year ended June 30, 2017.
Not exact matches
Such risks, uncertainties
and other factors include, without limitation: (1) the effect of economic conditions in the industries
and markets in which United Technologies
and Rockwell Collins
operate in the U.S.
and globally
and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates
and foreign currency exchange rates, levels of end market demand in construction
and in both the commercial
and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions
and natural disasters
and the financial condition of our customers
and suppliers; (2) challenges in the development, production, delivery, support, performance
and realization of the anticipated benefits of advanced technologies
and new products
and services; (3) the scope, nature, impact or timing of acquisition
and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses
and realization of synergies
and opportunities for growth
and innovation; (4) future timing
and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition,
and capital spending
and research
and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit
and factors that may affect such availability, including credit market conditions
and our capital structure; (6) the timing
and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions
and the level of other investing activities
and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays
and disruption in delivery of materials
and services from suppliers; (8) company
and customer - directed cost reduction efforts
and restructuring costs
and savings
and other consequences thereof; (9) new business
and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification
and balance of operations across product lines, regions
and industries; (12) the outcome of legal proceedings, investigations
and other contingencies; (13) pension plan assumptions
and future contributions; (14) the impact of the negotiation of collective bargaining agreements
and labor disputes; (15) the effect of changes in political conditions in the U.S.
and other countries in which United Technologies
and Rockwell Collins
operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies
and currency exchange rates in the near term
and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts
and Jobs Act of 2017), environmental, regulatory (including among other things import / export)
and other laws
and regulations in the U.S.
and other countries in which United Technologies
and Rockwell Collins
operate; (17) the ability of United Technologies
and Rockwell Collins to receive the required regulatory approvals (
and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger)
and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination
fee of $ 695 million to United Technologies or $ 50 million of
expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies»
and / or Rockwell Collins» common stock
and / or on their respective financial performance; (20) risks related to Rockwell Collins
and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs
and / or unknown liabilities; (22) risks associated with third party contracts containing consent
and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings;
and (24) the ability of United Technologies
and Rockwell Collins, or the combined company, to retain
and hire key personnel.
The Healthcare Reform Law, including The Patient Protection
and Affordable Care Act
and The Healthcare
and Education Reconciliation Act of 2010, could have a material adverse effect on Humana's results of operations, including restricting revenue, enrollment
and premium growth in certain products
and market segments, restricting the company's ability to expand into new markets, increasing the company's medical
and operating costs by, among other things, requiring a minimum benefit ratio on insured products, lowering the company's Medicare payment rates
and increasing the company's
expenses associated with a non-deductible health insurance industry
fee and other assessments; the company's financial position, including the company's ability to maintain the value of its goodwill;
and the company's cash flows.
The charge reflects the direct
operating cost of the aircraft, including fuel, additives
and lubricants, an allocable allowance for airframe, engine
and APU maintenance
and restoration, crew travel
expenses, on board catering,
and trip - related landing / hangar / ramp
fees and parking costs.
The Adviser of the Near - Term Tax Free Fund has contractually limited, through April 30, 2018, the total fund
operating expenses (exclusive of acquired fund
fees and expenses, extraordinary
expenses, taxes, brokerage commissions
and interest) to not exceed 0.45 %.
Once the QES transaction is complete, your retirement funds are now available to the corporation to begin
operating and paying for business
expenses, like buying equipment, leasing space, franchise
fees, hiring employees, etc..
Professionally managed donor - advised fund accounts can include a variety of investments whose
fee structures
and operating expenses will vary.
The indicated rates of return are the historical annual rates of return
and reflect changes in unit value, reinvestment of all distributions
and the
operating expenses of the fund but do not take into account sales charges or administrative
fees or income taxes payable by any securityholder that would have reduced returns.
^ The Fund's investment adviser, SSGA Funds Management, Inc. (the «Adviser» or «SSGA FM»), is contractually obligated until December 31, 2018 (i) to waive up to the full amount of the advisory
fee payable by the Fund,
and / or (ii) to reimburse the Fund to the extent that Total Annual Fund
Operating Expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and expenses, and distribution, shareholder servicing and sub-transfer agency fees) exceed 0.85 % of average daily net assets on an annua
Expenses (exclusive of non-recurring account
fees, extraordinary
expenses, acquired fund fees and expenses, and distribution, shareholder servicing and sub-transfer agency fees) exceed 0.85 % of average daily net assets on an annua
expenses, acquired fund
fees and expenses, and distribution, shareholder servicing and sub-transfer agency fees) exceed 0.85 % of average daily net assets on an annua
expenses,
and distribution, shareholder servicing
and sub-transfer agency
fees) exceed 0.85 % of average daily net assets on an annual basis.
1The Fund's investment adviser, SSGA Funds Management, Inc. is contractually obligated until May 1, 2019 to waive its management
fee and / or to reimburse the Fund for
expenses to the extent that Total Annual Fund Operating Expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and any class specific expenses such as Distribution, Shareholder Servicing, Administration, and Sub-Transfer Agency Fees, as measured on an annualized basis) exceed 0.07 % of average daily net assets on an annua
expenses to the extent that Total Annual Fund
Operating Expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and any class specific expenses such as Distribution, Shareholder Servicing, Administration, and Sub-Transfer Agency Fees, as measured on an annualized basis) exceed 0.07 % of average daily net assets on an annua
Expenses (exclusive of non-recurring account
fees, extraordinary expenses, acquired fund fees and any class specific expenses such as Distribution, Shareholder Servicing, Administration, and Sub-Transfer Agency Fees, as measured on an annualized basis) exceed 0.07 % of average daily net assets on an annual ba
fees, extraordinary
expenses, acquired fund fees and any class specific expenses such as Distribution, Shareholder Servicing, Administration, and Sub-Transfer Agency Fees, as measured on an annualized basis) exceed 0.07 % of average daily net assets on an annua
expenses, acquired fund
fees and any class specific expenses such as Distribution, Shareholder Servicing, Administration, and Sub-Transfer Agency Fees, as measured on an annualized basis) exceed 0.07 % of average daily net assets on an annual ba
fees and any class specific
expenses such as Distribution, Shareholder Servicing, Administration, and Sub-Transfer Agency Fees, as measured on an annualized basis) exceed 0.07 % of average daily net assets on an annua
expenses such as Distribution, Shareholder Servicing, Administration,
and Sub-Transfer Agency
Fees, as measured on an annualized basis) exceed 0.07 % of average daily net assets on an annual ba
Fees, as measured on an annualized basis) exceed 0.07 % of average daily net assets on an annual basis.
^ The Fund's investment adviser, SSGA Funds Management, Inc. is contractually obligated until April 30, 2019 (i) to waive up to the full amount of the advisory
fee payable by the Fund,
and / or (ii) to reimburse the Fund for
expenses to the extent that Total Annual Fund Operating Expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees, and any class - specific expenses, such as distribution, shareholder servicing, sub-transfer agency and administration fees) exceed 0.01 % of average daily net assets on an annua
expenses to the extent that Total Annual Fund
Operating Expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees, and any class - specific expenses, such as distribution, shareholder servicing, sub-transfer agency and administration fees) exceed 0.01 % of average daily net assets on an annua
Expenses (exclusive of non-recurring account
fees, extraordinary
expenses, acquired fund fees, and any class - specific expenses, such as distribution, shareholder servicing, sub-transfer agency and administration fees) exceed 0.01 % of average daily net assets on an annua
expenses, acquired fund
fees,
and any class - specific
expenses, such as distribution, shareholder servicing, sub-transfer agency and administration fees) exceed 0.01 % of average daily net assets on an annua
expenses, such as distribution, shareholder servicing, sub-transfer agency
and administration
fees) exceed 0.01 % of average daily net assets on an annual basis.
^ The Fund's investment adviser is contractually obligated until April 30, 2019 (i) to waive up to the full amount of the advisory
fee payable by the Fund
and / or (ii) to reimburse the Fund to the extent that Total Annual Fund
Operating Expenses (exclusive of non-recurring account fees, extraordinary expenses, and distribution, shareholder servicing, and sub-transfer agency fees) exceed 0.13 % of average daily net assets on an annua
Expenses (exclusive of non-recurring account
fees, extraordinary
expenses, and distribution, shareholder servicing, and sub-transfer agency fees) exceed 0.13 % of average daily net assets on an annua
expenses,
and distribution, shareholder servicing,
and sub-transfer agency
fees) exceed 0.13 % of average daily net assets on an annual basis.
The Adviser of the Gold
and Precious Metals Fund has voluntarily limited total fund
operating expenses (exclusive of acquired fund
fees and expenses of 0.07 %, extraordinary
expenses, taxes, brokerage commissions
and interest,
and advisory
fee performance adjustments) to not exceed 1.90 %.
The Adviser of the World Precious Minerals Fund has voluntarily limited total fund
operating expenses (exclusive of acquired fund
fees and expenses of 0.11 %, extraordinary
expenses, taxes, brokerage commissions
and interest,
and advisory
fee performance adjustments) to not exceed 1.90 %.
Use the Funds to
Operate Your Business Once the QES transaction is complete, your retirement funds are now available to the corporation to begin
operating and paying for business
expenses like buying equipment, leasing space, franchise
fees, hiring employees, etc..
The
expense ratio after waivers is a contractual limit through December 31, 2014, for the Near - Term Tax Free Fund, on total fund
operating expenses (exclusive of acquired fund
fees and expenses, extraordinary
expenses, taxes, brokerage commissions
and interest).
Common commercial real estate
operating expenses include real estate
and personal property taxes, property insurance, management
fees (on or off - site), repairs
and maintenance, utilities,
and other miscellaneous
expenses (accounting, legal, etc.).
The management
fee is a unified
fee that includes all of the
operating costs
and expenses of the Fund (other than taxes, charges of governmental agencies, interest, brokerage commissions incurred in connection with portfolio transactions, distribution
and / or service
fees payable under a plan pursuant to Rule 12b - 1 under the Investment Company Act of 1940
and extraordinary
expenses), including accounting
expenses, administrator, transfer agent
and custodian
fees, Fund legal
fees and other
expenses.
The
expense cap is a contractual limit through April 30, 2016, for the Near - Term Tax Free Fund, on total fund
operating expenses (exclusive of acquired fund
fees and expenses, extraordinary
expenses, taxes, brokerage commissions
and interest).
The
expense cap is a voluntary limit on total fund
operating expenses (exclusive of any acquired fund
fees and expenses, performance
fees, extraordinary
expenses, taxes, brokerage commissions
and interest) that U.S. Global Investors, Inc. can modify or terminate at any time, which may lower a fund's yield or return.
The
expense ratio after waivers is a voluntary limit on total fund
operating expenses (exclusive of any acquired fund
fees and expenses, performance
fees, taxes, brokerage commissions
and interest) that U.S. Global Investors, Inc. can modify or terminate at any time, which may lower a fund's yield or return.
* The Advisor has contractually agreed to defer its investment advisory
fees and / or absorb or reimburse Fund
expenses until at least November 1, 2018 to the extent necessary to limit the Fund's annual ordinary
operating expenses (excluding acquired fund
fees and expenses) to an amount not exceeding 1.13 % annually of the Fund's average daily net assets.
The Fund's advisor & administrator have entered into a series of agreements that run through September 30, 2017 which limit the Fund's
operating expenses to 1.70 % of the average daily net assets of the Fund, exclusive of brokerage
fees and commissions, taxes, borrowing costs (such as interest or dividend
expenses on securities sold short), acquired fund
fees and expenses, extraordinary
expenses,
and distribution
and / or service (12b - 1)
fees.
Fund TERs include management
fees, 12b - 1
fees, custody charges, transfer agency
fees and other
operating expenses of the fund.
Note that the ETF MERs are likely to be slightly higher because certain
operating expenses such as brokerage commissions
and harmonized sales taxes will be charged to the fund in addition to the management
fee.
The Fund has no sales load (a charge for purchasing the fund), no soft - dollar arrangements (where fund managers receive research, data terminals
and other benefits in return for paying higher commissions to brokers), no trailing
fees (where funds pay brokerages an ongoing percentage of assets in order to bring business to the fund),
and no 12b - 1 marketing
fees (where shareholders pay an amount over
and above management
and operating expenses, so that funds can advertise
and attract new shareholders).
Palmer Square Absolute Return Fund (PSQAX / PSQIX) has agreed to a lower management
fee and has reduced the cap on
operating expenses by 46 basis points to 1.39 %
and 1.64 % on its institutional
and «A» shares.
1 The Adviser has contractually agreed waive its
fee and / or reimburse Fund
expenses to limit Total Annual Fund Operating Expenses (excluding all taxes, interest, portfolio transaction expenses, acquired fund fees and expenses, proxy expenses and extraordinary expenses) of Institutional Shares and Investor Shares to 2.50 % and 2.75 %, respectively, through at least November
expenses to limit Total Annual Fund
Operating Expenses (excluding all taxes, interest, portfolio transaction expenses, acquired fund fees and expenses, proxy expenses and extraordinary expenses) of Institutional Shares and Investor Shares to 2.50 % and 2.75 %, respectively, through at least November
Expenses (excluding all taxes, interest, portfolio transaction
expenses, acquired fund fees and expenses, proxy expenses and extraordinary expenses) of Institutional Shares and Investor Shares to 2.50 % and 2.75 %, respectively, through at least November
expenses, acquired fund
fees and expenses, proxy expenses and extraordinary expenses) of Institutional Shares and Investor Shares to 2.50 % and 2.75 %, respectively, through at least November
expenses, proxy
expenses and extraordinary expenses) of Institutional Shares and Investor Shares to 2.50 % and 2.75 %, respectively, through at least November
expenses and extraordinary
expenses) of Institutional Shares and Investor Shares to 2.50 % and 2.75 %, respectively, through at least November
expenses) of Institutional Shares
and Investor Shares to 2.50 %
and 2.75 %, respectively, through at least November 30, 2019
The Advisor has contractually agreed to waive its
fees and / or reimburse
expenses at least through April 30, 2019 to the extent necessary to ensure that the total
operating expenses do not exceed 1.20 % of the Investor Class's average daily net assets
and 0.95 % of the Institutional Class's average daily net assets for the Chautauqua Global Growth Fund, 1.20 % of the Investor Class's average daily net assets
and 0.95 % of the Institutional Class's average daily net assets for the Chautauqua International Growth Fund, 1.10 % of the Investor Class's average daily net assets
and 0.85 % of the Institutional Class's average daily net assets for the Baird MidCap Fund, 1.20 % of the Investor Class's average daily net assets
and 0.95 % of the Institutional Class's average daily net assets for the Baird Small / Mid Cap Value Fund,
and 1.25 % of the Investor Class's average daily net assets
and 1.00 % of the Institutional Class's average daily net assets for the Baird SmallCap Value Fund.
Effective July 23, 2015, the Advisor has entered into an
Expense Limitation Agreement with the Fund that limits the Fund's annual
operating expenses to 1.25 %, exclusive of distribution
and / or service (12b - 1)
fees, brokerage
fees and commissions, taxes, interest
and borrowing costs,
and acquired fund
fees and expenses.
Investments in other funds subject the Fund to additional
operating and management
fees and expenses.
On its own, Cymbria might be attractive to fans of active management due to its low
fees (the management
fee is waived for the first three years but there is a service
fee paid to registered dealers of 1 %
and operating expenses of the fund), co-ownership (the founders have invested $ 22 million of their own money), concentration etc..
12b - 1
fees, which take their name from the SEC regulation permitting their existence, are charged by mutual funds to cover
operating expenses, such as marketing, distribution of shares, printing
and mailing prospectuses
and responding to shareholder inquiries.
Mutual funds charge annual
fees regardless of the fund's performance,
and the higher a fund's
expense ratio, the more the mutual fund manager must outperform the market to offer investors a better return than low - cost, index - tracking funds which are not actively managed
and have fewer
operating expenses.
The Fund's advisor has contractually agreed to waive its
fees and / or pay for
operating expenses of the Fund to ensure that total annual fund
operating expenses do not exceed 1.50 %
and 1.25 % of the average daily net assets for Advisor Class
and Institutional Class shares of the Fund, respectively.
The average total
expense ratio, which encompasses management
fees and operating expenses but not brokerage commissions
and other trading costs, is 1.33 percent of assets a year for domestic stock funds
and 0.97 percent for domestic bond funds, according to Morningstar.
Effective April 1, 2016, Kaizen Advisory, LLC (the «Advisor») has lowered its annual advisory
fee on Kaizen Hedged Premium Spreads Fund (KZSAX) from 1.45 % to 1.10 %
and agreed to reduce the limit on total annual fund
operating expenses by 0.35 % to 1.75 % for «A» shares.
WCM Investment Management has voluntarily agreed to waive all of its
fees and pay all of the
operating expenses for WCM Focused Global Growth Fund (WFGGX)
and WCM Focused Emerging Markets Fund (WFEMX) from May 1, 2016, through April 30, 2017.
Costs associated with mutual funds but not included in
operating expenses are loads, contingent deferred sales charges (CDSC)
and redemption
fees, which, if they apply, are paid directly by fund investors.
Fund
expenses include management
fees and operating fees.
The net
expense ratio reflects the total annual fund
operating expenses of the Portfolio after taking into account any such
fee waiver
and / or
expense assumption arrangements.
* As stated in the prospectus (pdf) dated 5/1/2018 ** Pursuant to an
operating expense limitation agreement between Heartland Advisors
and Heartland Group, Inc., on behalf of the Fund, Heartland Advisors has agreed to waive its management
fees and / or pay
expenses of the Fund to ensure that the Fund's total annual fund
operating expenses (excluding front - end or contingent deferred sales loads, taxes, leverage, interest, brokerage commissions,
expenses incurred in connection with any merger or reorganization, dividends or interest
expenses on short positions, acquired fund
fees and expenses, or extraordinary
expenses) do not exceed 1.25 % of the Fund's average daily net assets for the Investor Class Shares
and 0.99 % for the Institutional Class Shares through at least May 1, 2019,
and subject to annual re-approval of the agreement by the Board of Directors, thereafter.
Fees for 401K plans include a percentage fee on your investment in each mutual fund, operating expenses paid by your company to the plan provider and even fees each time you inv
Fees for 401K plans include a percentage
fee on your investment in each mutual fund,
operating expenses paid by your company to the plan provider
and even
fees each time you inv
fees each time you invest.
3As described in the Fund's current prospectus dated May 1, 2009, Parnassus Investments has contractually agreed to limit the total
operating expenses (exclusive of acquired fund
fees and expenses) to 0.99 %, 0.99 %, 0.78 %, 1.20 %, 1.20 %, 1.20 %
and 0.87 % of the net assets of the Parnassus Fund, the Parnassus Equity Income Fund — Investor Shares, the Parnassus Equity Income Fund — Institutional Shares, the Parnassus Mid-Cap Fund, the Parnassus Small - Cap Fund, the Parnassus Workplace Fund,
and the Parnassus Fixed - Income Fund, respectively until May 1, 2010.
+ read full definition
and management
fees and operating expenses affect you because they reduce the fund's returns.
¹ The before reimbursement
expense ratio (which includes acquired fund
fees and expenses (AFFE), if any) represents the total annual
operating expenses, before reductions of any
expenses paid indirectly as reported in the Fund's most current prospectus
and is calculated as a percentage of average net assets (ANA).
Efficiency: Low overhead, regulatory
and operating expenses mean that investor
fees are focused on analysis
and effective management of your investments.
^ SSGA Funds Management, Inc. (the «Adviser») has contractually agreed to waive its management
fee and reimburse certain
expenses, until October 31, 2018, so that the net annual Fund
operating expenses, before application of any
fees and expenses not paid by the Adviserpursuant to the Investment Advisory Agreement, if any, are limited to 0.45 % of the Fund's average daily net assets.