C000166463 Fees and Costs — Bramshill Income Performance Fund, Institutional Class
Data updated: 2024-02-29
The net expense ratio is 1.46%. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $421K in broker commissions, 0.0541% of average net assets, and portfolio turnover was 69%.
C000166463 Fees and Expenses
Annual operating expenses and sales charges of C000166463. Prospectus, as of July 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.29% |
| Gross expense ratio | 1.46% |
| Fee waiver | — |
| Net expense ratio | 1.46% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
C000166463 Costs Over Time
On $10,000 invested in C000166463, assuming 5% a year before costs, total costs come to $937 over 5 years, cutting the return by 1.59% 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 1.46%) | $153 | $476 | $821 |
| Trading costs (broker commissions) | $6 | $18 | $30 |
| Lost growth on money paid in costs | $0 | $25 | $86 |
| Total costs | $159 | $518 | $937 |
| Value after costs | $10,341 | $11,058 | $11,825 |
| Impact on return, per year | 1.59% | 1.59% | 1.59% |
C000166463 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0541%
- Total broker commissions: $421K
- Bought from dealers (principal trades, not a cost): $4.0B
- Portfolio turnover (prospectus): 69%
- Securities on loan, average value: $6.6M
- Net income from securities lending: $109K (0.014% of average net assets)
C000166463 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ELEVATION, LLC | $101K | 25.25% |
| GOLDMAN SACHS & CO. LLC | $96K | 24.17% |
| JONESTRADING | $80K | 20.08% |
| BLOOMBERG TRADEBOOK LLC | $38K | 9.54% |
| BGC Partners Inc. | $23K | 5.85% |
| CITIGROUP GLOBAL MARKETS INC. | $22K | 5.61% |
| WELLS FARGO SECURITIES, LLC | $16K | 3.91% |
| MAXIM GROUP LLC | $8K | 2.10% |
| J.P. MORGAN SECURITIES LLC | $7K | 1.80% |
| CANACCORD GENUITY LLC | $7K | 1.69% |
C000166463 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNP PARIBAS PRIME BROKERAGE, INC. | $216.9M | 15.93% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $196.9M | 14.45% |
| BARCLAYS CAPITAL INC. | $169.6M | 12.46% |
| WELLS FARGO SECURITIES, LLC | $166.5M | 12.22% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $154.6M | 11.35% |
| MORGAN STANLEY & CO. LLC | $152.4M | 11.19% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $97.7M | 7.18% |
| CITIGROUP GLOBAL MARKETS INC. | $82.9M | 6.09% |
| STONEX FINANCIAL INC. | $64.8M | 4.76% |
| ICAP CORPORATES LLC | $59.5M | 4.37% |
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.