Fees and Expenses
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FEES AND EXPENSES OF THE FUNDS
MIDAS PERPETUAL PORTFOLIO
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund.
Shareholder Fees (fees paid directly from your investment)
| |
Maximum Sales Charge (Load) Imposed on Purchases |
NONE |
|
| |
Maximum Deferred Sales Charge (Load) |
NONE |
|
| |
Maximum Sales Charge (Load) Imposed on Reinvested Dividends |
NONE |
|
| |
Redemption Fee on shares redeemed within 30 days of purchase |
1.00% |
|
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
| |
Management Fees |
0.50% |
|
| |
Distribution and Service (12b-1) Fees |
0.25% |
|
| |
Other Expenses |
1.76% |
|
| |
Acquired Fund Fees and Expenses |
0.09% |
|
| |
Total Annual Fund Operating Expenses1 |
2.60% |
|
| |
Fee Waiver2 |
0.50% |
|
| |
Total Annual Fund Operating Expenses After Fee Waiver |
2.10% |
|
1 |
The total annual Fund operating expenses listed above do not correlate to the ratio of expenses to average net assets listed in the “Financial Highlights” on page 25, which reflects the operating expenses of the Fund and does not include acquired fund fees and expenses. |
2 |
The investment manager has contractually agreed with the Fund to waive its management fee for the period from January 1, 2011 to April 29, 2012. The fee waiver agreement may only be amended or terminated with the approval of the Fund’s Board of Directors. The investment manager may continue such waiver after April 29, 2012 but is not contractually obligated to do so. |
EXAMPLE:
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. This example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. This example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses were those in the table. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
|
One Year |
|
|
Three Years |
|
|
Five Years |
|
|
Ten Years |
|
$ |
213 |
|
|
$ |
761 |
|
|
$ |
1,336 |
|
|
$ |
2,897 |
|
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
MIDAS FUND
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund.
Shareholder Fees (fees paid directly from your investment)
| |
Maximum Sales Charge (Load) Imposed on Purchases |
NONE |
|
| |
Maximum Deferred Sales Charge (Load) |
NONE |
|
| |
Maximum Sales Charge (Load) Imposed on Reinvested Dividends |
NONE |
|
| |
Redemption Fee on shares redeemed within 30 days of purchase |
1.00% |
|
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
| |
Management Fees |
1.00% |
|
| |
Distribution and Service (12b-1) Fees |
0.25% |
|
| |
Other Expenses |
1.04% |
|
| |
Total Annual Fund Operating Expenses |
2.29% |
|
EXAMPLE:
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. This example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. This example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses were those in the table. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
|
One Year |
|
|
Three Years |
|
|
Five Years |
|
|
Ten Years |
|
$ |
232 |
|
|
$ |
715 |
|
|
$ |
1,225 |
|
|
$ |
2,626 |
|
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 63% of the average value of its portfolio.
The following tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund.
Shareholder Fees (fees paid directly from your investment)
| |
Maximum Sales Charge (Load) Imposed on Purchases |
NONE |
|
| |
Maximum Deferred Sales Charge (Load) |
NONE |
|
| |
Maximum Sales Charge (Load) Imposed on Reinvested Dividends |
NONE |
|
| |
Redemption Fee on shares redeemed within 30 days of purchase |
1.00% |
|
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
| |
Management Fees |
0.99% |
|
| |
Distribution and Service (12b-1) Fees |
1.00% |
|
| |
Other Expenses |
2.23% |
|
| |
Total Annual Fund Operating Expenses |
4.22% |
|
EXAMPLE:
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. This example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. This example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses were those in the table. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
|
One Year |
|
|
Three Years |
|
|
Five Years |
|
|
Ten Years |
|
$ |
424 |
|
|
$ |
1,281 |
|
|
$ |
2,152 |
|
|
$ |
4,388 |
|
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 0% of the average value of its portfolio.
|
