C000141936 Fees and Costs — Highland Opportunistic Credit Fund, Class Z
Data updated: 2021-03-01
The net expense ratio is 2.17%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $14K in broker commissions, 0.0514% of average net assets, and portfolio turnover was 67%.
C000141936 Fees and Expenses
Annual operating expenses and sales charges of C000141936. Prospectus, as of October 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.13% |
| Gross expense ratio | 2.17% |
| Fee waiver | — |
| Net expense ratio | 2.17% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| 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 |
C000141936 Costs Over Time
On $10,000 invested in C000141936, assuming 5% a year before costs, total costs come to $1,356 over 5 years, cutting the return by 2.33% 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 2.17%) | $228 | $702 | $1,202 |
| Trading costs (broker commissions) | $5 | $17 | $28 |
| Lost growth on money paid in costs | $0 | $36 | $126 |
| Total costs | $233 | $754 | $1,356 |
| Value after costs | $10,267 | $10,822 | $11,407 |
| Impact on return, per year | 2.33% | 2.33% | 2.33% |
C000141936 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)
C000141936 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% |
C000141936 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.