Lisanti Capital Growth, LLC, a certified woman-owned and managed SEC registered investment advisor specializing in US small- and small/mid-cap (SMID) equity growth investing, has announced the Dinosaur Lisanti Small Cap Growth Fund (ASCGX), for which Lisanti is the investment advisor, has reduced the Total Annual Fund Operating Expenses
after the contractual Fee Waiver and/or Expense Reimbursement for the Fund to 1.
There are also Annual Fund Operating Expenses
, which include Management Fees, Distribution (12-b-1) fees, Other Expenses, and Total Annual Fund Operating Expenses
Fund operating expenses represent the total of all a mutual fund's annual fund operating expenses
The fund's investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the fund, at least until 10/31/2012, to ensure that the net annual fund operating expenses
will not exceed 1.
For example, annual fund operating expenses
for Fidelity Freedom 2055 total 81 basis points, and that fund includes a higher allocation of underlying equity funds.
Finally, data were given for annual fund operating expenses
to all study participants.
Under annual fund operating expenses
are distribution or service fees, also known as 12b-1 marketing fees in the industry; management fees; and other costs, such as custodial, legal, or accounting expenses.
The Fund's investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the fund, at least until July 31, 2013, to ensure that the Total Annual Fund Operating Expenses
After Fee Waiver (exclusive of any acquired fund fees and expenses, borrowing costs, taxes and extraordinary expenses) will not exceed 2.
The Adviser has contractually agreed to waive its advisory fee and reimburse certain expenses, until October 31, 2015, so that the Net Annual Fund Operating Expenses
of the Fund will be limited to 0.
If total annual fund operating expenses
would fall below the expense limit, the Advisor may cause the Fund's expenses to remain at the expense limit while it is reimbursed for fees that it waived or expenses that it assumed during the previous three year period.
Contractual waivers agreed to by Janus Capital, where applicable, are included under "Net Annual Fund Operating Expenses
25% above the rate of return on three-month US Treasury Bills, net of annual fund operating expenses
, over a rolling five-year time horizon.