ADMZX Fees and Costs — 361 Domestic Long/Short Equity Fund, Class I
Data updated: 2023-01-17
The net expense ratio is 2.66%: a 1.10% management fee plus 3.39% other expenses, less a 1.83% fee waiver. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $13K in broker commissions, 0.2045% of average net assets, and portfolio turnover was 479%.
ADMZX Fees and Expenses
Annual operating expenses and sales charges of ADMZX. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | — |
| Other expenses | 3.39% |
| Gross expense ratio | 4.49% |
| Fee waiver | −1.83% |
| Net expense ratio | 2.66% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ADMZX Costs Over Time
On $10,000 invested in ADMZX, assuming 5% a year before costs, total costs come to $1,726 over 5 years, cutting the return by 3.01% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 2.66%) | $279 | $855 | $1,453 |
| Trading costs (broker commissions) | $21 | $66 | $112 |
| Lost growth on money paid in costs | $0 | $46 | $161 |
| Total costs | $301 | $967 | $1,726 |
| Value after costs | $10,199 | $10,610 | $11,037 |
| Impact on return, per year | 3.01% | 3.01% | 3.01% |
ADMZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.2045%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 479%
- Securities lending: none during the year
ADMZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $7K | 52.57% |
| WEEDEN & CO.L.P. | $3K | 19.72% |
| CITIGROUP GLOBAL MARKETS INC. | $1K | 8.11% |
| RBC CAPITAL MARKETS, LLC | $1K | 7.85% |
| INSTINET, LLC | $900 | 6.73% |
| JEFFERIES LLC | $466 | 3.48% |
| MORGAN STANLEY | $128 | 0.96% |
| UBS SECURITIES LLC | $31 | 0.23% |
| VIRTU AMERICAS LLC | $25 | 0.19% |
| DASH FINANCIAL TECHNOLOGIES LLC | $22 | 0.16% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.