BXTAX Fees and Costs — Barings Diversified Income Fund, Class I
Data updated: 2021-05-25
The net expense ratio is 0.55%: a 0.40% management fee plus 0.79% other expenses, less a 0.64% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $2K in broker commissions, 0.0055% of average net assets, and portfolio turnover was 104%.
BXTAX Fees and Expenses
Annual operating expenses and sales charges of BXTAX. Prospectus, as of June 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.79% |
| Gross expense ratio | 1.19% |
| Fee waiver | −0.64% |
| Net expense ratio | 0.55% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
BXTAX Costs Over Time
On $10,000 invested in BXTAX, assuming 5% a year before costs, total costs come to $351 over 5 years, cutting the return by 0.58% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $192 | $351 |
| Value after costs | $10,442 | $11,384 | $12,412 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
BXTAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0055%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $95.2M
- Portfolio turnover (prospectus): 104%
- Securities lending: none during the year
BXTAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $2K | 100.00% |
BXTAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $11.6M | 18.33% |
| Barclays Capital Inc. | $9.6M | 15.26% |
| Citigroup Global Markets Inc. | $8.4M | 13.25% |
| Goldman Sachs & Co. LLC | $7.1M | 11.20% |
| Wells Fargo Securities, LLC | $4.7M | 7.50% |
| Morgan Stanley & Co. LLC | $4.6M | 7.31% |
| Deutsche Bank Securities Inc. | $4.4M | 6.90% |
| Credit Suisse Securities (USA) LLC | $4.3M | 6.90% |
| MUFG Securities Americas Inc. | $4.3M | 6.78% |
| Nomura Securities International, Inc. | $4.2M | 6.58% |
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.