C000198340 Fees and Costs — PPM Mid Cap Value Fund, Institutional Class
Data updated: 2020-11-24
The net expense ratio is 0.90% (1.08% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $4K in broker commissions, 0.0732% of average net assets, and portfolio turnover was 38%.
C000198340 Fees and Expenses
Annual operating expenses and sales charges of C000198340. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 1.08% |
| Fee waiver | −0.18% |
| Net expense ratio | 0.90% |
| 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 |
C000198340 Costs Over Time
On $10,000 invested in C000198340, assuming 5% a year before costs, total costs come to $609 over 5 years, cutting the return by 1.02% 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 0.90%) | $94 | $295 | $512 |
| Trading costs (broker commissions) | $8 | $24 | $42 |
| Lost growth on money paid in costs | $0 | $16 | $56 |
| Total costs | $102 | $335 | $609 |
| Value after costs | $10,398 | $11,242 | $12,154 |
| Impact on return, per year | 1.02% | 1.02% | 1.02% |
C000198340 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): 0.0732%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $1.8M
- Portfolio turnover (prospectus): 38%
- Securities on loan, average value: $62K
- Net income from securities lending: $97 (0.002% of average net assets)
C000198340 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo & Company | $474 | 16.66% |
| Liquidnet, Inc. | $392 | 13.77% |
| CitiGroup Global Markets, Inc. | $292 | 10.26% |
| Jefferies Group | $276 | 9.68% |
| Robert W. Baird & Co. | $275 | 9.67% |
| UBS Securities LLC | $272 | 9.58% |
| Capital One Financial Corporation | $255 | 8.96% |
| Cowen and Company, LLC | $210 | 7.36% |
| Investment Technology Group Inc. | $206 | 7.24% |
| Sanford C. Bernstein & Co., LLC | $194 | 6.82% |
C000198340 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Corporation | $1.8M | 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.