C000147196 Fees and Costs — Salient Tactical Plus Fund, Class I
Data updated: 2022-11-17
The net expense ratio is 1.52% (2.07% before fee waivers). There are no sales loads or redemption fees. In fiscal 2021 the fund paid $177K in broker commissions, 0.2485% of average net assets, and portfolio turnover was 62%.
C000147196 Fees and Expenses
Annual operating expenses and sales charges of C000147196. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.50% |
| Gross expense ratio | 2.07% |
| Fee waiver | −0.55% |
| Net expense ratio | 1.52% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
C000147196 Costs Over Time
On $10,000 invested in C000147196, assuming 5% a year before costs, total costs come to $1,089 over 5 years, cutting the return by 1.86% 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 1.52%) | $160 | $494 | $850 |
| Trading costs (broker commissions) | $26 | $81 | $139 |
| Lost growth on money paid in costs | $0 | $29 | $101 |
| Total costs | $186 | $603 | $1,089 |
| Value after costs | $10,314 | $10,973 | $11,673 |
| Impact on return, per year | 1.86% | 1.86% | 1.86% |
C000147196 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.2485%
- Total broker commissions: $177K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 62%
- Securities lending: none during the year
C000147196 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $123K | 69.53% |
| CITICORP SECURITIES SERVICES, INC. | $54K | 30.47% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.