Expense Ratio History

GAVAX expense ratio history

KL Allocation Fund, Advisor Class

Fund company
Investment Managers Series
Type
Mutual fund

1.60%

In basis points
160 basis points
Yearly cost per $10,000
$160
Prospectus dated
1 January 2023, filed with the SEC; rounded to 0.01%
Last change
Raised from 1.53% on 1 January 2023

Fee over time

GAVAX expense ratio: 13.39% until 1 Jan 2013, then 1.99%; 1.99% until 1 Jan 2014, then 1.53%; 1.53% until 1 Jan 2015, then 1.45%; 1.45% until 31 Mar 2015, then 1.48%; 1.48% until 1 Jan 2017, then 1.46%; 1.46% until 1 Jan 2018, then 1.45%; 1.45% until 1 Jan 2020, then 1.49%; 1.49% until 1 Jan 2021, then 1.54%; 1.54% until 1 Jan 2022, then 1.53%; 1.53% until 1 Jan 2023, then 1.60%; read at 1.60% on 1 Jan 2023.0.00%5.00%10.00%15.00%20.00%Dec 2011Nov 2013Oct 2015Sep 2017Aug 2019Jul 202113.39% before1.60% from 1 Jan 2023
GAVAX expense ratio: 13.39% until 1 Jan 2013, then 1.99%; 1.99% until 1 Jan 2014, then 1.53%; 1.53% until 1 Jan 2015, then 1.45%; 1.45% until 31 Mar 2015, then 1.48%; 1.48% until 1 Jan 2017, then 1.46%; 1.46% until 1 Jan 2018, then 1.45%; 1.45% until 1 Jan 2020, then 1.49%; 1.49% until 1 Jan 2021, then 1.54%; 1.54% until 1 Jan 2022, then 1.53%; 1.53% until 1 Jan 2023, then 1.60%; read at 1.60% on 1 Jan 2023.0.00%5.00%10.00%15.00%20.00%Dec 2011Sep 2015Jun 201913.39% before1.60% from 1 Jan 2023
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Share classes

The same fund is sold as 2 share classes, each with its own fee. Figures are from each class's latest prospectus in SEC filings, rounded to 0.01%.

TickerShare classFeeAfter waiversProspectus dated
GAVAX (this page) Advisor Class 1.60% 1.53% 1 Jan 2023
GAVIX Institutional Class 1.78% 1.35% 1 Jan 2024

Every figure we've recorded

DateFeeWhat happened
1 Jan 2023 1.60% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-01-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Jan 2023 1.60% Raised from 1.53% to 1.60%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2023-01-05
1 Jan 2022 1.53% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-01-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Jan 2022 1.53% Cut from 1.54% to 1.53%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2021-12-28
1 Jan 2021 1.54% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-01-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Jan 2021 1.54% Raised from 1.49% to 1.54%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2020-12-28
1 Jan 2020 1.49% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-01-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Jan 2020 1.49% Raised from 1.45% to 1.49%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2020-07-17
1 Jan 2018 1.45% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-01-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Jan 2018 1.45% Cut from 1.46% to 1.45%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2018-01-10
1 Jan 2017 1.46% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-01-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Jan 2017 1.46% Cut from 1.48% to 1.46%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2017-09-26
1 Jan 2016 1.48% In the prospectusTotal annual fund operating expenses in the prospectus dated 2016-01-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
31 Mar 2015 1.48% In the prospectusTotal annual fund operating expenses in the prospectus dated 2015-03-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Mar 2015 1.48% Raised from 1.45% to 1.48%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2015-04-10
1 Jan 2015 1.45% In the prospectusTotal annual fund operating expenses in the prospectus dated 2015-01-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Jan 2015 1.45% Cut from 1.53% to 1.45%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2015-01-07
1 Jan 2014 1.53% In the prospectusTotal annual fund operating expenses in the prospectus dated 2014-01-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Jan 2014 1.53% Cut from 1.99% to 1.53%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2014-01-07
1 Jan 2013 1.99% In the prospectusTotal annual fund operating expenses in the prospectus dated 2013-01-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Jan 2013 1.99% Cut from 13.39% to 1.99%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2013-07-10
31 Dec 2011 13.39% In the prospectusTotal annual fund operating expenses in the prospectus dated 2011-12-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 1.60% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$1,912 in fees over 10 years

After fees, $10,000 grows to $13,916.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$164
3 years$509
5 years$877
10 years$1,912

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 12 prospectuses for this share class since 2011. Each one is listed above with a link to the filing.

How we read fees

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