ASFIX Fees and Costs — Absolute Strategies Fund
Data updated: 2023-08-28
The net expense ratio is 2.45% (3.00% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $500K in broker commissions, 1.5059% of average net assets, and portfolio turnover was 42%.
ASFIX Fees and Expenses
Annual operating expenses and sales charges of ASFIX. Prospectus, as of July 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 1.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.94% |
| Gross expense ratio | 3.00% |
| Fee waiver | −0.55% |
| Net expense ratio | 2.45% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ASFIX Costs Over Time
On $10,000 invested in ASFIX, assuming 5% a year before costs, total costs come to $2,332 over 5 years, cutting the return by 4.15% 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 2.45%) | $257 | $778 | $1,308 |
| Trading costs (broker commissions) | $158 | $478 | $804 |
| Lost growth on money paid in costs | $0 | $64 | $220 |
| Total costs | $415 | $1,320 | $2,332 |
| Value after costs | $10,085 | $10,256 | $10,430 |
| Impact on return, per year | 4.15% | 4.15% | 4.15% |
ASFIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 1.5059%
- Total broker commissions: $500K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 42%
- Securities lending: none during the year
ASFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $480K | 96.00% |
| ED&F MAN CAPITAL MARKETS INC. | $20K | 3.92% |
| WELLS FARGO BROKERAGE SERVICES, LLC | $404 | 0.08% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.