C000141934 Fees and Costs — Highland Opportunistic Credit Fund, Class A
Data updated: 2021-03-01
The net expense ratio is 2.49%. This share class carries a maximum front-end sales load of 3.50% and a deferred sales charge of up to 1.00%. In fiscal 2020 the fund paid $14K in broker commissions, 0.0514% of average net assets, and portfolio turnover was 67%.
C000141934 Fees and Expenses
Annual operating expenses and sales charges of C000141934. Prospectus, as of October 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.35% |
| Other expenses | 1.10% |
| Gross expense ratio | 2.49% |
| Fee waiver | — |
| Net expense ratio | 2.49% |
| Sales charges | |
|---|---|
| Max front load | 3.50% |
| Max deferred load | 1.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000141934 Costs Over Time
On $10,000 invested in C000141934, assuming 5% a year before costs, total costs come to $1,934 over 5 years, cutting the return by 3.40% 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 |
| Sales charges | $449 | $350 | $350 |
| Fund expenses (net expense ratio 2.49%) | $252 | $775 | $1,322 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $17 | $95 | $235 |
| Total costs | $724 | $1,235 | $1,934 |
| Value after costs | $9,776 | $10,341 | $10,829 |
| Impact on return, per year | 7.24% | 3.88% | 3.40% |
C000141934 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0514%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $28.5M
- Portfolio turnover (prospectus): 67%
- Securities on loan, average value: —
- Net income from securities lending: $2K (0.006% of average net assets)
C000141934 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wolf Research Securities | $6K | 45.28% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH | $2K | 14.59% |
| VIRTU FINANCIAL BD LLC | $2K | 12.66% |
| J.P. MORGAN SECURITIES | $1K | 10.55% |
| IMPERIAL CAPITAL | $1K | 7.95% |
| KEY BANK CAPITAL MANAGEMENT | $530 | 3.76% |
| JEFFERIES LLC | $255 | 1.81% |
| INTERNATIONAL STRATEGY & INVESTMENT GROUP | $161 | 1.14% |
| SOCIETE GENERALE COWEN SECURITIES CORP. | $161 | 1.14% |
| JONES & ASSOCIATES | $158 | 1.12% |
C000141934 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL INC. | $3.7M | 15.84% |
| JEFFERIES LLC | $3.5M | 15.30% |
| MONTGOMERY/BANK OF AMERICA | $3.4M | 14.57% |
| UBS SECURITIES LLC | $2.7M | 11.78% |
| GOLDMAN, SACHS & CO. | $2.2M | 9.52% |
| MORGAN STANLEY SMITH BARNEY LLC | $2.0M | 8.58% |
| J.P. MORGAN SECURITIES | $1.6M | 6.85% |
| DEUTSCHE BANK SECURITIES, INC. | $1.5M | 6.51% |
| CANTOR FITZGERALD & CO. | $1.3M | 5.56% |
| ROYAL BANK CANADA | $1.3M | 5.49% |
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.