BMAAX Fees and Costs — Sterling Capital Maryland Intermediate Tax-Free Fund, Class A
Data updated: 2021-02-23
The net expense ratio is 0.94%: a 0.35% management fee, a 0.25% 12b-1 fee plus 0.34% other expenses. This share class carries a maximum front-end sales load of 2.00%. Portfolio turnover was 21%.
BMAAX Fees and Expenses
Annual operating expenses and sales charges of BMAAX. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.34% |
| Gross expense ratio | 0.94% |
| Fee waiver | — |
| Net expense ratio | 0.94% |
| 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 |
BMAAX Costs Over Time
On $10,000 invested in BMAAX, assuming 5% a year before costs, total costs come to $832 over 5 years, cutting the return by 1.41% 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 0.94%) | $97 | $302 | $524 |
| Lost growth on money paid in costs | $10 | $46 | $108 |
| Total costs | $307 | $548 | $832 |
| Value after costs | $10,193 | $11,028 | $11,931 |
| Impact on return, per year | 3.07% | 1.69% | 1.41% |
BMAAX 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): $10.1M
- Portfolio turnover (prospectus): 21%
- Securities lending: none during the year
BMAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS, INC. | $5.9M | 58.08% |
| CitiGroup Global Markets Inc. | $1.1M | 11.26% |
| M&T Securities, Inc. | $756K | 7.49% |
| HUNTINGTON SECURITIES, INC. | $526K | 5.21% |
| J.P. Morgan Securities LLC | $414K | 4.10% |
| Stifel, Nicolaus & Company, Incorporated | $330K | 3.27% |
| HILLTOP SECURITIES INC. | $285K | 2.82% |
| MORGAN STANLEY & CO. LLC | $276K | 2.73% |
| DAVENPORT & CO. LLC | $271K | 2.68% |
| THE BANK OF NEW YORK MELLON | $237K | 2.35% |
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.