C000198339 Fees and Costs — PPM Large Cap Value Fund, Institutional Class
Data updated: 2020-11-24
The net expense ratio is 0.75% (0.95% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $2K in broker commissions, 0.0344% of average net assets, and portfolio turnover was 29%.
C000198339 Fees and Expenses
Annual operating expenses and sales charges of C000198339. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.25% |
| Gross expense ratio | 0.95% |
| Fee waiver | −0.20% |
| Net expense ratio | 0.75% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 | No |
C000198339 Costs Over Time
On $10,000 invested in C000198339, assuming 5% a year before costs, total costs come to $493 over 5 years, cutting the return by 0.82% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $4 | $11 | $20 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $82 | $270 | $493 |
| Value after costs | $10,418 | $11,306 | $12,270 |
| Impact on return, per year | 0.82% | 0.82% | 0.82% |
C000198339 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0344%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $3.5M
- Portfolio turnover (prospectus): 29%
- Securities on loan, average value: $15K
- Net income from securities lending: $29 (0.000% of average net assets)
C000198339 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Liquidnet, Inc. | $314 | 16.90% |
| Robert W. Baird & Co. | $289 | 15.58% |
| Wells Fargo & Company | $208 | 11.21% |
| Credit Suisse | $195 | 10.51% |
| KeyBanc Capital Markets Inc. | $175 | 9.43% |
| Jefferies Group | $157 | 8.46% |
| Sanford C. Bernstein & Co., LLC | $153 | 8.25% |
| Goldman Sachs & Co. LLC | $124 | 6.66% |
| Evercore ISI Group | $122 | 6.58% |
| CitiGroup Global Markets, Inc. | $119 | 6.42% |
C000198339 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Corporation | $3.5M | 100.00% |
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.