C000158333 Fees and Costs — Polen DDJ Opportunistic High Yield Fund, Class II
Data updated: 2023-12-14
The net expense ratio is 1.14%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.29% other expenses, less a 0.10% fee waiver. This share class carries a redemption fee of 1.00%. Portfolio turnover was 36%.
C000158333 Fees and Expenses
Annual operating expenses and sales charges of C000158333. Prospectus, as of January 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.29% |
| Gross expense ratio | 1.24% |
| Fee waiver | −0.10% |
| Net expense ratio | 1.14% |
| 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 |
C000158333 Costs Over Time
On $10,000 invested in C000158333, assuming 5% a year before costs, total costs come to $711 over 5 years, cutting the return by 1.20% 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 1.14%) | $120 | $373 | $646 |
| Lost growth on money paid in costs | $0 | $18 | $65 |
| Total costs | $120 | $391 | $711 |
| Value after costs | $10,380 | $11,185 | $12,052 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
C000158333 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
C000158333 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.