C000198341 Fees and Costs — PPM Small Cap Value Fund, Institutional Class
Data updated: 2021-05-27
The net expense ratio is 1.00% (1.14% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $16K in broker commissions, 0.1476% of average net assets, and portfolio turnover was 40%.
C000198341 Fees and Expenses
Annual operating expenses and sales charges of C000198341. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 1.14% |
| Fee waiver | −0.14% |
| Net expense ratio | 1.00% |
| 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 |
C000198341 Costs Over Time
On $10,000 invested in C000198341, assuming 5% a year before costs, total costs come to $716 over 5 years, cutting the return by 1.20% 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 1.00%) | $105 | $327 | $566 |
| Trading costs (broker commissions) | $15 | $48 | $84 |
| Lost growth on money paid in costs | $0 | $19 | $66 |
| Total costs | $120 | $394 | $716 |
| Value after costs | $10,380 | $11,182 | $12,047 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
C000198341 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): 0.1476%
- Total broker commissions: $16K
- Bought from dealers (principal trades, not a cost): $14.3M
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $165K
- Net income from securities lending: $115 (0.001% of average net assets)
C000198341 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $4K | 29.48% |
| Raymond James Financial | $3K | 17.98% |
| Jefferies Group | $2K | 15.33% |
| Piper Jaffray Companies | $2K | 12.67% |
| Robert W. Baird & Co. | $962 | 6.66% |
| Barclays PLC | $786 | 5.44% |
| JEFFERIES BACHE SECURITIES, LLC | $685 | 4.74% |
| CitiGroup Global Markets, Inc. | $426 | 2.95% |
| Credit Suisse | $350 | 2.42% |
| Wells Fargo Securities, LLC | $335 | 2.32% |
C000198341 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Corporation | $14.3M | 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.