C000190952 Fees and Costs — Third Avenue International Real Estate Value Fund, Z Shares
Data updated: 2021-05-21
The net expense ratio is 1.20%: a 1.00% management fee plus 0.59% other expenses, less a 0.39% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $140K in broker commissions, 0.2750% of average net assets, and portfolio turnover was 34%.
C000190952 Fees and Expenses
Annual operating expenses and sales charges of C000190952. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.59% |
| Gross expense ratio | 1.59% |
| Fee waiver | −0.39% |
| Net expense ratio | 1.20% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| 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 |
C000190952 Costs Over Time
On $10,000 invested in C000190952, assuming 5% a year before costs, total costs come to $914 over 5 years, cutting the return by 1.55% 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 1.20%) | $126 | $391 | $675 |
| Trading costs (broker commissions) | $29 | $90 | $155 |
| Lost growth on money paid in costs | $0 | $24 | $84 |
| Total costs | $155 | $505 | $914 |
| Value after costs | $10,345 | $11,072 | $11,849 |
| Impact on return, per year | 1.55% | 1.55% | 1.55% |
C000190952 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.2750%
- Total broker commissions: $140K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 34%
- Securities lending: none during the year
C000190952 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| DBS Vickers Securities (USA) Inc. | $40K | 28.52% |
| Berenberg Bank | $34K | 24.62% |
| Kempen & Co U.S.A., Inc. | $16K | 11.41% |
| Citigroup Global Markets Inc. | $13K | 9.36% |
| Capital Institutional Services, Inc. | $13K | 9.01% |
| J&E Davy | $8K | 6.09% |
| Daiwa Securities Group Inc. | $7K | 4.82% |
| Cowen and Company | $6K | 4.62% |
| RBC Capital Markets, LLC | $2K | 1.24% |
| KEMPER FINANCIAL SERVICES, INC. | $450 | 0.32% |
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.