AMFZX Fees and Costs — 361 Managed Futures Strategy Fund, Class I
Data updated: 2021-03-26
The net expense ratio is 1.94%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $145K in broker commissions, 0.1860% of average net assets, and portfolio turnover was 29%.
AMFZX Fees and Expenses
Annual operating expenses and sales charges of AMFZX. Prospectus, as of March 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.59% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.32% |
| Gross expense ratio | 1.94% |
| Fee waiver | — |
| Net expense ratio | 1.94% |
| 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 |
AMFZX Costs Over Time
On $10,000 invested in AMFZX, assuming 5% a year before costs, total costs come to $1,300 over 5 years, cutting the return by 2.23% 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 1.94%) | $204 | $628 | $1,076 |
| Trading costs (broker commissions) | $20 | $60 | $103 |
| Lost growth on money paid in costs | $0 | $34 | $121 |
| Total costs | $223 | $723 | $1,300 |
| Value after costs | $10,277 | $10,854 | $11,463 |
| Impact on return, per year | 2.23% | 2.23% | 2.23% |
AMFZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1860%
- Total broker commissions: $145K
- Bought from dealers (principal trades, not a cost): $119.3M
- Portfolio turnover (prospectus): 29%
- Securities lending: none during the year
AMFZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NEWEDGE FINANCIAL INC. | $104K | 71.47% |
| GOLDMAN SACHS & CO. LLC | $41K | 28.53% |
AMFZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS, LLC | $17.6M | 21.70% |
| J.P. MORGAN SECURITIES LLC | $15.6M | 19.18% |
| WELLS FARGO SECURITIES, LLC | $7.9M | 9.70% |
| TD SECURITIES (USA) LLC | $7.8M | 9.65% |
| MIZUHO SECURITIES USA LLC | $6.8M | 8.41% |
| BANC OF AMERICA SECURITIES LLC | $6.5M | 8.00% |
| BNP PARIBAS SECURITIES CORP. | $5.2M | 6.35% |
| MORGAN STANLEY AND CO. LLC | $4.7M | 5.75% |
| HSBC SECURITIES (USA) INC. | $4.6M | 5.72% |
| CITIGROUP GLOBAL MARKETS INC. | $4.5M | 5.53% |
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.