BKTAX Fees and Costs — Sterling Capital Kentucky Intermediate Tax-Free Fund, Class A
Data updated: 2021-02-23
The net expense ratio is 0.96%: a 0.35% management fee, a 0.25% 12b-1 fee plus 0.35% other expenses. This share class carries a maximum front-end sales load of 2.00%. Portfolio turnover was 33%.
BKTAX Fees and Expenses
Annual operating expenses and sales charges of BKTAX. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.35% |
| Gross expense ratio | 0.96% |
| Fee waiver | — |
| Net expense ratio | 0.96% |
| Sales charges | |
|---|---|
| Max front load | 2.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BKTAX Costs Over Time
On $10,000 invested in BKTAX, assuming 5% a year before costs, total costs come to $844 over 5 years, cutting the return by 1.43% 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 |
| Sales charges | $200 | $200 | $200 |
| Fund expenses (net expense ratio 0.96%) | $99 | $308 | $535 |
| Lost growth on money paid in costs | $10 | $47 | $109 |
| Total costs | $309 | $555 | $844 |
| Value after costs | $10,191 | $11,021 | $11,919 |
| Impact on return, per year | 3.09% | 1.71% | 1.43% |
BKTAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $11.1M
- Portfolio turnover (prospectus): 33%
- Securities lending: none during the year
BKTAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS, INC. | $7.9M | 72.42% |
| CitiGroup Global Markets Inc. | $545K | 5.01% |
| RBC CAPITAL MARKETS LLC | $514K | 4.73% |
| Merrill Lynch Professional Clearing Corp. | $447K | 4.11% |
| WELLS FARGO SECURITIES, LLC | $283K | 2.60% |
| HEADLANDS TECH GLOBAL MARKETS, LLC | $271K | 2.49% |
| VINING-SPARKS IBG, LIMITED PARTNERSHIP | $265K | 2.44% |
| Mesirow Financial Inc. | $258K | 2.37% |
| B. Riley Securities, Inc. | $221K | 2.03% |
| First Horizon Bank | $197K | 1.81% |
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.