C000120207 Fees and Costs — Equinox Campbell Strategy Fund, Class P
Data updated: 2020-05-27
The net expense ratio is 2.14%: a 1.64% management fee, a 0.25% 12b-1 fee plus 0.44% other expenses, less a 0.19% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $547K in broker commissions, 0.6018% of average net assets, and portfolio turnover was 15%.
C000120207 Fees and Expenses
Annual operating expenses and sales charges of C000120207. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.64% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.44% |
| Gross expense ratio | 2.33% |
| Fee waiver | −0.19% |
| Net expense ratio | 2.14% |
| 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 |
C000120207 Costs Over Time
On $10,000 invested in C000120207, assuming 5% a year before costs, total costs come to $1,656 over 5 years, cutting the return by 2.88% 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 2.14%) | $225 | $688 | $1,172 |
| Trading costs (broker commissions) | $63 | $194 | $330 |
| Lost growth on money paid in costs | $0 | $44 | $154 |
| Total costs | $288 | $926 | $1,656 |
| Value after costs | $10,212 | $10,650 | $11,107 |
| Impact on return, per year | 2.88% | 2.88% | 2.88% |
C000120207 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.6018%
- Total broker commissions: $547K
- Bought from dealers (principal trades, not a cost): $101.2M
- Portfolio turnover (prospectus): 15%
- Securities lending: none during the year
C000120207 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $547K | 100.00% |
C000120207 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bank N.A. | $89.7M | 88.62% |
| Morgan Stanley & Co., Inc. | $11.5M | 11.38% |
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.