C000004388 Fees and Costs — Highland Socially Responsible Equity Fund, Class A
Data updated: 2021-03-01
The net expense ratio is 1.81%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.95% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2020 the fund paid $403K in broker commissions, 0.5544% of average net assets, and portfolio turnover was 642%.
C000004388 Fees and Expenses
Annual operating expenses and sales charges of C000004388. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.95% |
| Gross expense ratio | 1.81% |
| Fee waiver | — |
| Net expense ratio | 1.81% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
C000004388 Costs Over Time
On $10,000 invested in C000004388, assuming 5% a year before costs, total costs come to $2,090 over 5 years, cutting the return by 3.69% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.81%) | $179 | $551 | $942 |
| Trading costs (broker commissions) | $55 | $169 | $288 |
| Lost growth on money paid in costs | $29 | $127 | $285 |
| Total costs | $838 | $1,421 | $2,090 |
| Value after costs | $9,662 | $10,155 | $10,673 |
| Impact on return, per year | 8.38% | 4.49% | 3.69% |
C000004388 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): 0.5544%
- Total broker commissions: $403K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 642%
- Securities on loan, average value: $401K
- Net income from securities lending: $2K (0.003% of average net assets)
C000004388 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU FINANCIAL BD LLC | $62K | 19.15% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH | $61K | 19.03% |
| J.P. MORGAN SECURITIES | $54K | 16.81% |
| ITG | $35K | 10.97% |
| CANTOR FITZGERALD & CO. | $32K | 10.00% |
| OPPENHEIMER & ASSOCIATES | $22K | 6.99% |
| SUNTRUST | $21K | 6.55% |
| INTERNATIONAL STRATEGY & INVESTMENT GROUP | $14K | 4.27% |
| KEY BANK CAPITAL MANAGEMENT | $11K | 3.56% |
| WOLF RESEARCH | $9K | 2.67% |
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.