C000146534 Fees and Costs — 1919 Financial Services Fund, Class I
Data updated: 2024-03-15
The net expense ratio is 1.10%: a 0.80% management fee plus 0.30% other expenses. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $53K in broker commissions, 0.0397% of average net assets, and portfolio turnover was 4%.
C000146534 Fees and Expenses
Annual operating expenses and sales charges of C000146534. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.10% |
| Fee waiver | — |
| Net expense ratio | 1.10% |
| 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 | No |
| Waived fees subject to recoupment | No |
C000146534 Costs Over Time
On $10,000 invested in C000146534, assuming 5% a year before costs, total costs come to $711 over 5 years, cutting the return by 1.20% 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 1.10%) | $116 | $360 | $623 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $18 | $65 |
| Total costs | $120 | $391 | $711 |
| Value after costs | $10,380 | $11,185 | $12,052 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
C000146534 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0397%
- Total broker commissions: $53K
- Bought from dealers (principal trades, not a cost): $97.5M
- Portfolio turnover (prospectus): 4%
- Securities lending: none during the year
C000146534 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PIPER | $21K | 40.63% |
| RAYMOND JAMES & ASSOCIATES INC. | $10K | 19.63% |
| MORGAN STANLEY & CO. LLC | $4K | 8.04% |
| GOLDMAN SACHS & CO | $4K | 7.37% |
| MERRILL LYNCH INC. | $3K | 5.69% |
| WACHOVIA BANK N.A. | $3K | 5.30% |
| R.B.C DOMINION SECURITIES INC. | $2K | 4.66% |
| SUNTRUST CAPITAL MARKETS INC. | $2K | 3.55% |
| J.P. MORGAN SECURITIES LLC | $2K | 3.15% |
| BARCLAY INVESTMENTS LLC | $993 | 1.96% |
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.