C000219222 Fees and Costs — Barings Active Short Duration Bond Fund, Class L
Data updated: 2021-11-24
The net expense ratio is 0.65%: a 0.35% management fee, a 0.25% 12b-1 fee plus 0.29% other expenses, less a 0.24% fee waiver. This share class carries a maximum front-end sales load of 2.00% and a deferred sales charge of up to 0.50%. In fiscal 2021 the fund paid $46K in broker commissions, 0.0052% of average net assets, and portfolio turnover was 64%.
C000219222 Fees and Expenses
Annual operating expenses and sales charges of C000219222. Prospectus, as of June 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.29% |
| Gross expense ratio | 0.89% |
| Fee waiver | −0.24% |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | 2.00% |
| Max deferred load | 0.50% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000219222 Costs Over Time
On $10,000 invested in C000219222, assuming 5% a year before costs, total costs come to $660 over 5 years, cutting the return by 1.11% 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 |
| Sales charges | $251 | $200 | $200 |
| Fund expenses (net expense ratio 0.65%) | $67 | $209 | $365 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $10 | $42 | $92 |
| Total costs | $329 | $453 | $660 |
| Value after costs | $10,171 | $11,123 | $12,103 |
| Impact on return, per year | 3.29% | 1.39% | 1.11% |
C000219222 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0052%
- Total broker commissions: $46K
- Bought from dealers (principal trades, not a cost): $2.4B
- Portfolio turnover (prospectus): 64%
- Securities lending: none during the year
C000219222 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $46K | 100.00% |
C000219222 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $303.3M | 15.62% |
| J.P. Morgan Securities LLC | $299.0M | 15.40% |
| Wells Fargo Securities, LLC | $260.6M | 13.42% |
| Citigroup Global Markets Inc. | $254.1M | 13.09% |
| Barclays Capital Inc. | $210.9M | 10.86% |
| Credit Suisse Securities (USA) LLC | $142.6M | 7.34% |
| Goldman Sachs & Co. LLC | $129.5M | 6.67% |
| MUFG Securities Americas Inc. | $119.9M | 6.18% |
| Mizuho Securities USA LLC | $118.4M | 6.10% |
| Pershing LLC | $103.3M | 5.32% |
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.