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These are actually existing funds, just changing legal structure. The funds were series of the Motley Fool Funds Trust, and they will be series of the RBB Fund, Inc. Grouping funds as series of a trust is often done to cut down on overhead costs, especially by small funds.
RBB Fund is a wrapper for a plethora of funds. Some of the better known ones (IMHO) are Bogle Small Cap Growth (BOGLX) and Boston Partners Funds. Before they were shuttered, it also held n/i Numeric Investors Funds.
The ERs are weird - for the Independence fund, the Institutional class fund has "other expenses" that are 1% higher than the Investor class. Typically expenses are lower for I class shares, since there's less administration to deal with.
The difference between ERs for the two share classes of the Great America fund (again with the Institutional class being higher) is about 1.3%, and the difference for classes of the Epic Voyage class is truly epic, at 4%. Its institutional share class has "other expenses" of 4.84%!
Comments
These are actually existing funds, just changing legal structure. The funds were series of the Motley Fool Funds Trust, and they will be series of the RBB Fund, Inc. Grouping funds as series of a trust is often done to cut down on overhead costs, especially by small funds.
RBB Fund is a wrapper for a plethora of funds. Some of the better known ones (IMHO) are Bogle Small Cap Growth (BOGLX) and Boston Partners Funds. Before they were shuttered, it also held n/i Numeric Investors Funds.
The ERs are weird - for the Independence fund, the Institutional class fund has "other expenses" that are 1% higher than the Investor class. Typically expenses are lower for I class shares, since there's less administration to deal with.
The difference between ERs for the two share classes of the Great America fund (again with the Institutional class being higher) is about 1.3%, and the difference for classes of the Epic Voyage class is truly epic, at 4%. Its institutional share class has "other expenses" of 4.84%!
Regards,
Ted
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