C000129909 Fees and Costs — Western Asset Macro Opportunities Fund, Class IS
Data updated: 2024-09-26
The net expense ratio is 1.24%: a 1.15% management fee plus 0.09% other expenses. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $2.1M in broker commissions, 0.4678% of average net assets, and portfolio turnover was 117%.
C000129909 Fees and Expenses
Annual operating expenses and sales charges of C000129909. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.09% |
| Gross expense ratio | 1.24% |
| Fee waiver | — |
| Net expense ratio | 1.24% |
| 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 |
C000129909 Costs Over Time
On $10,000 invested in C000129909, assuming 5% a year before costs, total costs come to $1,053 over 5 years, cutting the return by 1.79% 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 1.24%) | $130 | $403 | $694 |
| Trading costs (broker commissions) | $49 | $152 | $262 |
| Lost growth on money paid in costs | $0 | $28 | $97 |
| Total costs | $179 | $583 | $1,053 |
| Value after costs | $10,321 | $10,993 | $11,710 |
| Impact on return, per year | 1.79% | 1.79% | 1.79% |
C000129909 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.4678%
- Total broker commissions: $2.1M
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 117%
- Securities lending: none during the year
C000129909 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $396K | 19.07% |
| R.J. O'Brien Securities, LLC | $365K | 17.60% |
| Marex North America Securities LLC | $306K | 14.78% |
| WELLS FARGO SECURITIES, LLC | $298K | 14.36% |
| MORGAN STANLEY & CO. LLC | $210K | 10.14% |
| BOFA SECURITIES, INC. | $200K | 9.63% |
| GOLDMAN SACHS & CO. LLC | $140K | 6.76% |
| UBS Securities LLC | $77K | 3.73% |
| CITIGROUP GLOBAL MARKETS INC. | $49K | 2.34% |
| J.P. MORGAN SECURITIES LLC | $33K | 1.58% |
C000129909 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $444.4M | 37.08% |
| WELLS FARGO SECURITIES, LLC | $278.5M | 23.24% |
| J.P. Morgan Securities LLC | $113.6M | 9.48% |
| BOFA SECURITIES, INC. | $107.6M | 8.98% |
| MORGAN STANLEY & CO. LLC | $104.9M | 8.75% |
| DEUTSCHE BANK SECURITIES, INC. | $49.1M | 4.09% |
| CitiGroup Global Markets Inc. | $33.9M | 2.82% |
| BMO CAPITAL MARKETS CORP. | $27.9M | 2.33% |
| HSBC SECURITIES (USA), INC. | $22.4M | 1.87% |
| UBS SECURITIES LLC | $16.4M | 1.37% |
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.