C000134717 Fees and Costs — Seaport Long/Short Fund, Class NAV
Data updated: 2025-03-31
The net expense ratio is 1.56%: a 1.43% management fee plus 0.13% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $940K in broker commissions, 0.1923% of average net assets, and portfolio turnover was 141%.
C000134717 Fees and Expenses
Annual operating expenses and sales charges of C000134717. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.43% |
| 12b-1 fee | — |
| Other expenses | 0.13% |
| Gross expense ratio | 1.57% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.56% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 | No |
C000134717 Costs Over Time
On $10,000 invested in C000134717, assuming 5% a year before costs, total costs come to $1,080 over 5 years, cutting the return by 1.84% 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 1.56%) | $164 | $507 | $872 |
| Trading costs (broker commissions) | $20 | $63 | $108 |
| Lost growth on money paid in costs | $0 | $28 | $100 |
| Total costs | $184 | $598 | $1,080 |
| Value after costs | $10,316 | $10,978 | $11,683 |
| Impact on return, per year | 1.84% | 1.84% | 1.84% |
C000134717 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1923%
- Total broker commissions: $940K
- Bought from dealers (principal trades, not a cost): $30.0B
- Portfolio turnover (prospectus): 141%
- Securities on loan, average value: $2.1M
- Net income from securities lending: $30K (0.006% of average net assets)
C000134717 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $625K | 72.98% |
| J.P. Morgan Securities LLC | $57K | 6.66% |
| Goldman Sachs & Co. LLC | $51K | 5.93% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $31K | 3.64% |
| UBS AG | $27K | 3.17% |
| Jefferies LLC | $23K | 2.65% |
| Royal Bank of Canada | $14K | 1.61% |
| Barclays Bank PLC | $10K | 1.16% |
| BTIG, LLC | $10K | 1.13% |
| Citigroup Global Markets Holdings Inc. | $9K | 1.08% |
C000134717 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $18.5B | 62.20% |
| Goldman Sachs & Co. LLC | $5.3B | 17.75% |
| J.P. Morgan Securities LLC | $4.5B | 15.01% |
| State Street Global Markets, LLC | $783.5M | 2.63% |
| Citadel Securities LLC | $165.4M | 0.56% |
| Bank of Montreal | $163.7M | 0.55% |
| Nomura Holdings, Inc. | $128.8M | 0.43% |
| BNP Paribas | $92.1M | 0.31% |
| Cowen & Company | $83.5M | 0.28% |
| Citigroup Global Markets Holdings Inc. | $81.7M | 0.27% |
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.