C000148872 Fees and Costs — 361 Global Long/Short Equity Fund, Class Y
Data updated: 2023-01-17
The net expense ratio is 2.35%: a 1.25% management fee plus 1.12% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $2.2M in broker commissions, 0.3349% of average net assets, and portfolio turnover was 437%.
C000148872 Fees and Expenses
Annual operating expenses and sales charges of C000148872. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | — |
| Other expenses | 1.12% |
| Gross expense ratio | 2.37% |
| Fee waiver | −0.02% |
| Net expense ratio | 2.35% |
| 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 |
C000148872 Costs Over Time
On $10,000 invested in C000148872, assuming 5% a year before costs, total costs come to $1,624 over 5 years, cutting the return by 2.82% 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 2.35%) | $247 | $757 | $1,289 |
| Trading costs (broker commissions) | $35 | $108 | $184 |
| Lost growth on money paid in costs | $0 | $43 | $151 |
| Total costs | $282 | $908 | $1,624 |
| Value after costs | $10,218 | $10,669 | $11,139 |
| Impact on return, per year | 2.82% | 2.82% | 2.82% |
C000148872 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.3349%
- Total broker commissions: $2.2M
- Bought from dealers (principal trades, not a cost): $1.9B
- Portfolio turnover (prospectus): 437%
- Securities lending: none during the year
C000148872 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $669K | 32.93% |
| Societe Generale Investment Corp | $315K | 15.54% |
| MORGAN STANLEY | $229K | 11.27% |
| WEEDEN & CO.L.P. | $222K | 10.92% |
| RBC CAPITAL MARKETS, LLC | $174K | 8.56% |
| GOLDMAN SACHS & CO. LLC | $131K | 6.44% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $108K | 5.33% |
| CITIGROUP GLOBAL MARKETS INC. | $90K | 4.43% |
| BTIG, LLC | $53K | 2.59% |
| LIQUIDNET, INC. | $41K | 2.00% |
C000148872 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $1.2B | 65.69% |
| Societe Generale Investment Corp | $649.8M | 34.31% |
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.