BESMX Fees and Costs — F/M Investments European L/S Small Cap Fund, Institutional Class
Data updated: 2021-03-31
The net expense ratio is 3.35% (3.85% before fee waivers). This share class carries a redemption fee of 1.00%. In fiscal 2020 the fund paid $145K in broker commissions, 1.7604% of average net assets, and portfolio turnover was 141%.
BESMX Fees and Expenses
Annual operating expenses and sales charges of BESMX. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 2.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.83% |
| Gross expense ratio | 3.85% |
| Fee waiver | −0.50% |
| Net expense ratio | 3.35% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
BESMX Costs Over Time
On $10,000 invested in BESMX, assuming 5% a year before costs, total costs come to $2,944 over 5 years, cutting the return by 5.37% 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 3.35%) | $352 | $1,051 | $1,746 |
| Trading costs (broker commissions) | $185 | $552 | $917 |
| Lost growth on money paid in costs | $0 | $82 | $281 |
| Total costs | $537 | $1,686 | $2,944 |
| Value after costs | $9,963 | $9,891 | $9,818 |
| Impact on return, per year | 5.37% | 5.37% | 5.37% |
BESMX 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): 1.7604%
- Total broker commissions: $145K
- Bought from dealers (principal trades, not a cost): $1.7M
- Portfolio turnover (prospectus): 141%
- Securities lending: none during the year
BESMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| KEPLER CAPITAL MARKETS | $34K | 17.14% |
| JEFFERIES | $33K | 16.93% |
| MAINFIRST | $31K | 15.61% |
| Peel Hunt, Inc. | $26K | 13.32% |
| HANDELSBANKEN | $23K | 11.77% |
| CENKOS SECURITIES PLC | $22K | 10.95% |
| Numis Securities Limited | $9K | 4.52% |
| GOODBODY SECURITIES, INC. | $7K | 3.45% |
| Liquidnet | $7K | 3.39% |
| REDBURN PARTNERS | $6K | 2.92% |
BESMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CENKOS SECURITIES PLC | $398K | 24.77% |
| SEB - SKANDINAVISKA ENKILDA BANKEN | $260K | 16.17% |
| Peel Hunt, Inc. | $230K | 14.33% |
| BERENBERG | $216K | 13.42% |
| Numis Securities Limited | $117K | 7.29% |
| Liquidnet | $116K | 7.21% |
| HAUCK & AUFHAUSER | $97K | 6.04% |
| MAINFIRST | $94K | 5.85% |
| TAMESIS PARTNERS LLP | $44K | 2.73% |
| CARNEGIE INVESTMENT BANK | $35K | 2.17% |
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.