C000154539 Fees and Costs — Westwood Alternative Income Fund, Ultra Class
Data updated: 2022-01-13
The net expense ratio is 0.84%: a 0.85% management fee plus 0.55% other expenses, less a 0.56% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2021 the fund paid $3K in broker commissions, 0.0024% of average net assets, and portfolio turnover was 137%.
C000154539 Fees and Expenses
Annual operating expenses and sales charges of C000154539. Prospectus, as of February 28, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | 0.55% |
| Gross expense ratio | 1.40% |
| Fee waiver | −0.56% |
| Net expense ratio | 0.84% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000154539 Costs Over Time
On $10,000 invested in C000154539, assuming 5% a year before costs, total costs come to $529 over 5 years, cutting the return by 0.88% 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 0.84%) | $88 | $276 | $479 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $14 | $48 |
| Total costs | $88 | $290 | $529 |
| Value after costs | $10,412 | $11,286 | $12,234 |
| Impact on return, per year | 0.88% | 0.88% | 0.88% |
C000154539 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0024%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $435.6M
- Portfolio turnover (prospectus): 137%
- Securities lending: none during the year
C000154539 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES | $3K | 97.70% |
| INTERACTIVE BROKERS LLC | $74 | 2.30% |
C000154539 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JP MORGAN | $70.3M | 20.30% |
| PERSHING LLC | $61.3M | 17.68% |
| CITIGROUP GLOBAL MARKETS | $55.7M | 16.09% |
| WACHOVIA SECURITIES, INC. | $37.9M | 10.93% |
| JEFFERIES LLC | $37.4M | 10.81% |
| MORGAN STANLEY & CO, INC | $30.7M | 8.87% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH | $19.7M | 5.69% |
| BNP PARIBAS | $13.5M | 3.91% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $10.4M | 3.00% |
| BARCLAYS CAPITAL INC | $9.5M | 2.74% |
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.