ATMSX Fees and Costs — Anchor Risk Managed Municipal Strategies Fund, Institutional Class
Data updated: 2022-07-08
The net expense ratio is 3.79% (4.16% before fee waivers). There are no sales loads or redemption fees. In fiscal 2021 the fund paid $9K in broker commissions, 0.0377% of average net assets, and portfolio turnover was 13%.
ATMSX Fees and Expenses
Annual operating expenses and sales charges of ATMSX. Prospectus, as of December 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.77% |
| Gross expense ratio | 4.16% |
| Fee waiver | −0.37% |
| Net expense ratio | 3.79% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ATMSX Costs Over Time
On $10,000 invested in ATMSX, assuming 5% a year before costs, total costs come to $2,263 over 5 years, cutting the return by 4.02% 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 3.79%) | $398 | $1,206 | $2,029 |
| Trading costs (broker commissions) | $4 | $12 | $20 |
| Lost growth on money paid in costs | $0 | $61 | $213 |
| Total costs | $402 | $1,279 | $2,263 |
| Value after costs | $10,098 | $10,297 | $10,500 |
| Impact on return, per year | 4.02% | 4.02% | 4.02% |
ATMSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0377%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $5.9M
- Portfolio turnover (prospectus): 13%
- Securities lending: none during the year
ATMSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $8K | 93.26% |
| The Goldman Sachs Group, Inc. | $610 | 6.74% |
ATMSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Union Bank | $4.8M | 81.78% |
| US Bancorp | $1.1M | 18.22% |
Anchor Risk Managed Municipal Strategies Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ATAMX | Advisor Class | 3.54% | none |
| ATMSX | Institutional Class | 3.79% | none |
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.