C000058074 Fees and Costs — Westwood Income Opportunity Fund, Class A
Data updated: 2022-01-13
The net expense ratio is 1.09%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.14% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $566K in broker commissions, 0.0677% of average net assets, and portfolio turnover was 111%.
C000058074 Fees and Expenses
Annual operating expenses and sales charges of C000058074. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.14% |
| Gross expense ratio | 1.14% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.09% |
| 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 | Yes |
C000058074 Costs Over Time
On $10,000 invested in C000058074, assuming 5% a year before costs, total costs come to $722 over 5 years, cutting the return by 1.22% 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 1.09%) | $114 | $357 | $617 |
| Trading costs (broker commissions) | $7 | $22 | $38 |
| Lost growth on money paid in costs | $0 | $19 | $66 |
| Total costs | $122 | $397 | $722 |
| Value after costs | $10,378 | $11,179 | $12,041 |
| Impact on return, per year | 1.22% | 1.22% | 1.22% |
C000058074 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0677%
- Total broker commissions: $566K
- Bought from dealers (principal trades, not a cost): $566.5M
- Portfolio turnover (prospectus): 111%
- Securities lending: none during the year
C000058074 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NORTHERN TRUST BROKERAGE INSTITUTION | $564K | 99.63% |
| MORGAN STANLEY & CO, INC | $2K | 0.36% |
| UBS SECURITIES LLC | $29 | 0.01% |
C000058074 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS | $131.4M | 30.54% |
| MORGAN STANLEY & CO, INC | $82.9M | 19.27% |
| RBC DAIN RAUSCHER INC. | $46.2M | 10.74% |
| BEAR STEARNS & CO INC. | $31.8M | 7.39% |
| JEFFERIES LLC | $30.3M | 7.04% |
| MONTGOMERY/BANK OF AMERICA | $29.9M | 6.96% |
| JP Morgan | $25.7M | 5.99% |
| GOLDMAN, SACHS & CO. | $20.0M | 4.64% |
| WACHOVIA CAPITAL MARKETS | $19.7M | 4.57% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH | $12.3M | 2.87% |
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.