C000054224 Fees and Costs — Old Westbury Multi-Asset Opportunities Fund
Data updated: 2020-09-29
The net expense ratio is 1.21%: a 1.04% management fee plus 0.28% other expenses, less a 0.12% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $3.5M in broker commissions, 0.0689% of average net assets, and portfolio turnover was 132%.
C000054224 Fees and Expenses
Annual operating expenses and sales charges of C000054224. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.04% |
| 12b-1 fee | — |
| Other expenses | 0.28% |
| Gross expense ratio | 1.33% |
| Fee waiver | −0.12% |
| Net expense ratio | 1.21% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000054224 Costs Over Time
On $10,000 invested in C000054224, assuming 5% a year before costs, total costs come to $796 over 5 years, cutting the return by 1.34% 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 1.21%) | $127 | $395 | $683 |
| Trading costs (broker commissions) | $7 | $23 | $39 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $134 | $438 | $796 |
| Value after costs | $10,366 | $11,138 | $11,967 |
| Impact on return, per year | 1.34% | 1.34% | 1.34% |
C000054224 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0689%
- Total broker commissions: $3.5M
- Bought from dealers (principal trades, not a cost): $69.6B
- Portfolio turnover (prospectus): 132%
- Securities lending: none during the year
C000054224 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cowen and Company, LLC | $950K | 27.42% |
| BTIG, LLC | $868K | 25.05% |
| CitiGroup Global Markets Inc. | $364K | 10.50% |
| ICAP SECURITIES USA LLC | $360K | 10.38% |
| J.P. Morgan Securities LLC | $329K | 9.50% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $219K | 6.33% |
| Macro Risk Advisors, LLC | $153K | 4.42% |
| WEEDEN & CO. L.P. | $114K | 3.30% |
| BNP PARIBAS SECURITIES CORP. | $92K | 2.65% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $15K | 0.44% |
C000054224 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $29.1B | 43.73% |
| BNY MELLON CAPITAL MARKETS, LLC | $16.7B | 25.18% |
| Amherst Pierpont Securities LLC | $6.9B | 10.42% |
| J.P. Morgan Securities LLC | $3.8B | 5.76% |
| WELLS FARGO SECURITIES, LLC | $2.3B | 3.43% |
| CitiGroup Global Markets Inc. | $2.1B | 3.16% |
| UBS SECURITIES LLC | $2.1B | 3.11% |
| BARCLAYS CAPITAL, INC. | $1.7B | 2.62% |
| BOFA SECURITIES, INC. | $1.1B | 1.70% |
| MIZUHO SECURITIES USA LLC | $587.8M | 0.88% |
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.