C000158332 Fees and Costs — Polen DDJ Opportunistic High Yield Fund, Class I
Data updated: 2023-12-14
The net expense ratio is 0.89%: a 0.70% management fee plus 0.30% other expenses, less a 0.11% fee waiver. This share class carries a redemption fee of 1.00%. Portfolio turnover was 36%.
C000158332 Fees and Expenses
Annual operating expenses and sales charges of C000158332. Prospectus, as of January 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.00% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.89% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| 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 |
C000158332 Costs Over Time
On $10,000 invested in C000158332, assuming 5% a year before costs, total costs come to $558 over 5 years, cutting the return by 0.93% 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 0.89%) | $93 | $292 | $507 |
| Lost growth on money paid in costs | $0 | $14 | $51 |
| Total costs | $93 | $306 | $558 |
| Value after costs | $10,407 | $11,270 | $12,205 |
| Impact on return, per year | 0.93% | 0.93% | 0.93% |
C000158332 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $178.3M
- Portfolio turnover (prospectus): 36%
- Securities lending: none during the year
C000158332 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $26.2M | 18.88% |
| BARCLAYS CAPITAL INC. | $20.5M | 14.73% |
| GOLDMAN SACHS & CO. LLC | $18.2M | 13.12% |
| JEFFERIES LLC | $14.2M | 10.26% |
| MORGAN STANLEY | $14.2M | 10.24% |
| JPMORGAN DISTRIBUTION SERVICES, INC. | $13.4M | 9.65% |
| DEUTSCHE BANK SECURITIES INC. | $9.1M | 6.58% |
| RBC CAPITAL MARKETS, LLC | $8.3M | 5.97% |
| Antares Capital | $7.6M | 5.47% |
| CITICORP SECURITIES SERVICES, INC. | $7.1M | 5.10% |
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.