C000175521 Fees and Costs — Patient Opportunity Trust, Class FI
Data updated: 2024-03-15
The net expense ratio is 1.60%: a 0.77% management fee, a 0.25% 12b-1 fee plus 0.58% other expenses. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $2.0M in broker commissions, 0.1562% of average net assets, and portfolio turnover was 40%.
C000175521 Fees and Expenses
Annual operating expenses and sales charges of C000175521. Prospectus, as of June 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.77% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.60% |
| Fee waiver | — |
| Net expense ratio | 1.60% |
| 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 |
C000175521 Costs Over Time
On $10,000 invested in C000175521, assuming 5% a year before costs, total costs come to $1,082 over 5 years, cutting the return by 1.84% 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 1.60%) | $168 | $520 | $895 |
| Trading costs (broker commissions) | $16 | $51 | $87 |
| Lost growth on money paid in costs | $0 | $28 | $100 |
| Total costs | $184 | $599 | $1,082 |
| Value after costs | $10,316 | $10,977 | $11,681 |
| Impact on return, per year | 1.84% | 1.84% | 1.84% |
C000175521 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1562%
- Total broker commissions: $2.0M
- Bought from dealers (principal trades, not a cost): $25.0M
- Portfolio turnover (prospectus): 40%
- Securities lending: none during the year
C000175521 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CAPITAL INSTITUTIONAL SERVICES, INC. | $1.2M | 73.23% |
| BARCLAY INVESTMENTS LLC | $126K | 7.51% |
| J.P. MORGAN SECURITIES LLC | $65K | 3.85% |
| ALLEN & COMPANY LLC | $63K | 3.73% |
| GOLDMAN SACHS & CO | $46K | 2.71% |
| MERRILL LYNCH INC. | $44K | 2.62% |
| JEFFERIES LLC | $35K | 2.09% |
| CANACCORD GENUITY LLC | $25K | 1.46% |
| CITIBANK GROUP MARKETS | $24K | 1.45% |
| MKM PARTNERS LLC | $23K | 1.34% |
C000175521 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $13.0M | 52.05% |
| CAPITAL INSTITUTIONAL SERVICES, INC. | $7.3M | 29.18% |
| MARKETAXESS CORPORATION | $3.7M | 14.61% |
| UBS FINANCIAL SERVICES INC. | $1.0M | 4.17% |
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.