C000146536 Fees and Costs — 1919 Socially Responsive Balanced Fund, Class I
Data updated: 2024-03-15
The net expense ratio is 0.73%: a 0.58% management fee plus 0.14% other expenses. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $53K in broker commissions, 0.0076% of average net assets, and portfolio turnover was 13%.
C000146536 Fees and Expenses
Annual operating expenses and sales charges of C000146536. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.58% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 0.73% |
| Fee waiver | — |
| Net expense ratio | 0.73% |
| 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 |
C000146536 Costs Over Time
On $10,000 invested in C000146536, assuming 5% a year before costs, total costs come to $464 over 5 years, cutting the return by 0.77% 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 0.73%) | $77 | $240 | $417 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $77 | $254 | $464 |
| Value after costs | $10,423 | $11,322 | $12,299 |
| Impact on return, per year | 0.77% | 0.77% | 0.77% |
C000146536 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): 0.0076%
- Total broker commissions: $53K
- Bought from dealers (principal trades, not a cost): $256.2M
- Portfolio turnover (prospectus): 13%
- Securities lending: none during the year
C000146536 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS FINANCIAL SERVICES INC. | $10K | 23.64% |
| GOLDMAN SACHS & CO | $8K | 18.60% |
| CFT SECURITIES, LLC | $4K | 10.25% |
| MORGAN STANLEY & CO. LLC | $4K | 10.04% |
| CABRERA CAPITAL MARKETS, LLC | $4K | 8.68% |
| PIPER | $4K | 8.32% |
| MIZIHO SECURITIES USA INC | $2K | 5.36% |
| R.B.C DOMINION SECURITIES INC. | $2K | 5.19% |
| BAIRD ROBERT W. & CO. INCORPORATED | $2K | 5.19% |
| THE WILLIAMS CAPITAL GROUP, L.P. | $2K | 4.74% |
C000146536 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANC/AMERICA SECUR.LLC MONTGOMEY DIV | $6.1M | 26.27% |
| MARKETAXESS CORPORATION | $5.2M | 22.45% |
| J.P. MORGAN SECURITIES LLC | $4.6M | 19.70% |
| JEFFERIES LLC | $3.5M | 15.00% |
| HSBC SECURITIES (USA) INC. | $1.1M | 4.83% |
| GOLDMAN SACHS & CO | $1.1M | 4.79% |
| CITIGROUP GLOBAL MARKETS INC. | $1.1M | 4.72% |
| MILLENIUM ADVISORS | $489K | 2.10% |
| MORGAN STANLEY & CO. INC. | $35K | 0.15% |
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.