C000145197 Fees and Costs — BMO Alternative Strategies Fund, Class I
Data updated: 2020-07-20
The net expense ratio is 1.45%: a 1.00% management fee plus 1.04% other expenses, less a 0.59% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $89K in broker commissions, 0.1521% of average net assets, and portfolio turnover was 64%.
C000145197 Fees and Expenses
Annual operating expenses and sales charges of C000145197. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.04% |
| Gross expense ratio | 2.04% |
| Fee waiver | −0.59% |
| Net expense ratio | 1.45% |
| 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 | No |
C000145197 Costs Over Time
On $10,000 invested in C000145197, assuming 5% a year before costs, total costs come to $990 over 5 years, cutting the return by 1.68% 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 1.45%) | $152 | $472 | $813 |
| Trading costs (broker commissions) | $16 | $50 | $85 |
| Lost growth on money paid in costs | $0 | $26 | $91 |
| Total costs | $168 | $548 | $990 |
| Value after costs | $10,332 | $11,029 | $11,773 |
| Impact on return, per year | 1.68% | 1.68% | 1.68% |
C000145197 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.1521%
- Total broker commissions: $89K
- Bought from dealers (principal trades, not a cost): $737.5M
- Portfolio turnover (prospectus): 64%
- Securities lending: none during the year
C000145197 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $27K | 43.40% |
| Morgan Stanley & Co. LLC | $9K | 13.61% |
| Cowen and Company, LLC | $4K | 6.91% |
| State Street Bank and Trust Company | $4K | 6.43% |
| Barclays Capital Inc. | $4K | 5.86% |
| Investment Technology Group, Inc. | $3K | 5.52% |
| Canaccord Genuity Group Inc. | $3K | 5.30% |
| Liquidnet, Inc. | $3K | 4.61% |
| Fidelity Capital Markets, Inc. | $3K | 4.45% |
| Instinet, LLC | $2K | 3.91% |
C000145197 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMorgan Chase & Co. | $423.6M | 57.44% |
| State Street Bank and Trust Company | $285.3M | 38.68% |
| Nomura Holdings, Inc. | $6.7M | 0.90% |
| Wells Fargo Securities, LLC | $6.7M | 0.90% |
| Bank of Montreal | $6.0M | 0.81% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $5.5M | 0.74% |
| Barclays Capital Inc. | $3.2M | 0.44% |
| Natwest Markets Securities Inc. | $500K | 0.07% |
| Citigroup Global Markets Inc. | $121K | 0.02% |
| BNP Paribas Securities Corp. | $9K | 0.00% |
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.