v3.25.4
Annual Fund Operating Expenses - Kensington Defender Fund
Jan. 22, 2026
Prospectus [Line Items]  
Fee Waiver or Reimbursement over Assets, Date of Termination April 30, 2026
Kensington Defender Fund Class R  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 1.25%
Distribution and Service (12b-1) Fees 0.00%
Component1 Other Expenses 0.70%
Component2 Other Expenses 0.35%
Acquired Fund Fees and Expenses 0.55% [1]
Expenses (as a percentage of Assets) 2.85%
Fee Waiver or Reimbursement (0.11%) [2]
Net Expenses (as a percentage of Assets) 2.74%
[1] Acquired Fund Fees and Expenses (“AFFE”) are indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights, when issued, because the financial statements include only the direct operating expenses incurred by the Fund and does not include the indirect costs of investing in other investment companies.
[2] Kensington Asset Management, LLC (the “Adviser”) has contractually agreed to waive its management fee and pay Fund expenses to ensure that Total Annual Fund Operating Expenses (excluding AFFE, leverage/borrowing interest, interest expense, dividends paid on short sales, taxes, brokerage commissions, extraordinary expenses, and distribution (12b‑1) and servicing fees and expenses) do not exceed 1.49% of the average net assets of the Fund. Fees waived and expenses paid by the Adviser may be recouped by the Adviser for a period of 36 months following the month during which such fee waiver and expense payment was made if such recoupment can be achieved without exceeding the expense limit in effect at the time the fee waiver and expense payment occurred and the expense limit in effect at the time of recoupment. The Operating Expense Limitation Agreement is indefinite in term and cannot be terminated through at least April 30, 2026. Thereafter, the agreement may be terminated at any time upon 60 days’ written notice by the Trust’s Board of Trustees (the “Board”) or the Adviser.