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Three Grandeur Peak Funds in registration - updated prospectus information
Asked Mr. Huefner about the launch. They're working on shareholder/investor communication pieces now and they hope to start reaching out by mid-July but "[i]t will probably be September before anything gets launched. "
Did anyone notice that the math doesn't work in the "Fees and Expenses" table for the International Stalwarts Fund?
For the Investor class, but it's the same for the Institutional shares: Management Fee 0.80% 12-b1 fee 0.25% Other Expenses 1.28%
Total Operating Expenses 1.53%
They left out the management fee when they added, which either means the fee waiver has to be a lot bigger to get to the bottom line of 1.35% or the actual expense ratio is going to be north of 2% even after the fee waiver. The latter seems more likely because the fee waivers of the various funds are all in the same general neighborhood and this International fund has much higher "Other Expenses" than the domestic Stalwarts fund, which I tend to assume their not going to refund.
Does anyone have any idea when these new funds are going to be launched? The updated registration suggests as soon as practicable, which could be today in theory. But when they initially filed the registration statements in April and we were debating the change in direction for GP with the Stalwarts funds, they told me they expected to answer everyone's questions in July before the funds actually launched. I hope that's still true.
The institutional and investor shares of the Global Micro Cap Fund have the same fund symbols in one place (GPMOX) and the correct ones in another(GISOX and GISYX).
Maybe this prospectus is a draft copy of the final one?
Also, GPMOX is on the Global Micro Cap in one place and International Stalwarts in another place.
Comments
For what interest that holds,
David
For the Investor class, but it's the same for the Institutional shares:
Management Fee 0.80%
12-b1 fee 0.25%
Other Expenses 1.28%
Total Operating Expenses 1.53%
They left out the management fee when they added, which either means the fee waiver has to be a lot bigger to get to the bottom line of 1.35% or the actual expense ratio is going to be north of 2% even after the fee waiver. The latter seems more likely because the fee waivers of the various funds are all in the same general neighborhood and this International fund has much higher "Other Expenses" than the domestic Stalwarts fund, which I tend to assume their not going to refund.
Does anyone have any idea when these new funds are going to be launched? The updated registration suggests as soon as practicable, which could be today in theory. But when they initially filed the registration statements in April and we were debating the change in direction for GP with the Stalwarts funds, they told me they expected to answer everyone's questions in July before the funds actually launched. I hope that's still true.
The institutional and investor shares of the Global Micro Cap Fund have the same fund symbols in one place (GPMOX) and the correct ones in another(GISOX and GISYX).
Maybe this prospectus is a draft copy of the final one?
Also, GPMOX is on the Global Micro Cap in one place and International Stalwarts in another place.
I'll send them a note
Your note worked. Here is the updated prospectus with correct symbols and expenses:
http://www.sec.gov/Archives/edgar/data/915802/000139834415004204/fp0014974_497.htm