C000188363 Fees and Costs — James Alpha Managed Risk Domestic Equity Portfolio, Class S
Data updated: 2021-04-20
The net expense ratio is 1.45% (1.90% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $93K in broker commissions, 0.1991% of average net assets, and portfolio turnover was 173%.
C000188363 Fees and Expenses
Annual operating expenses and sales charges of C000188363. Prospectus, as of December 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.20% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 1.90% |
| Fee waiver | −0.45% |
| Net expense ratio | 1.45% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000188363 Costs Over Time
On $10,000 invested in C000188363, assuming 5% a year before costs, total costs come to $1,018 over 5 years, cutting the return by 1.73% 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 1.45%) | $152 | $472 | $813 |
| Trading costs (broker commissions) | $21 | $65 | $112 |
| Lost growth on money paid in costs | $0 | $27 | $94 |
| Total costs | $173 | $563 | $1,018 |
| Value after costs | $10,327 | $11,013 | $11,745 |
| Impact on return, per year | 1.73% | 1.73% | 1.73% |
C000188363 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1991%
- Total broker commissions: $93K
- Bought from dealers (principal trades, not a cost): $12.7M
- Portfolio turnover (prospectus): 173%
- Securities lending: none during the year
C000188363 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Pershing | $91K | 97.84% |
| Dash Financial Technologies LLC | $2K | 2.13% |
| BNY MELLON | $24 | 0.03% |
C000188363 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Dash Financial Technologies LLC | $6.2M | 49.14% |
| Pershing | $4.1M | 32.02% |
| BNY MELLON | $2.4M | 18.84% |
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.