C000222487 Fees and Costs — AXS Thomson Reuters Private Equity Return Tracker Fund, Class I
Data updated: 2023-08-28
The net expense ratio is 1.50%: a 1.25% management fee plus 1.28% other expenses, less a 1.03% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2022 the fund paid $33K in broker commissions, 0.1528% of average net assets, and portfolio turnover was 45%.
C000222487 Fees and Expenses
Annual operating expenses and sales charges of C000222487. Prospectus, as of September 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.28% |
| Gross expense ratio | 2.53% |
| Fee waiver | −1.03% |
| Net expense ratio | 1.50% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000222487 Costs Over Time
On $10,000 invested in C000222487, assuming 5% a year before costs, total costs come to $1,020 over 5 years, cutting the return by 1.74% 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 1.50%) | $158 | $488 | $841 |
| Trading costs (broker commissions) | $16 | $50 | $86 |
| Lost growth on money paid in costs | $0 | $27 | $94 |
| Total costs | $174 | $565 | $1,020 |
| Value after costs | $10,326 | $11,012 | $11,742 |
| Impact on return, per year | 1.74% | 1.74% | 1.74% |
C000222487 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.1528%
- Total broker commissions: $33K
- Bought from dealers (principal trades, not a cost): $15.9M
- Portfolio turnover (prospectus): 45%
- Securities lending: none during the year
C000222487 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNP PARIBAS SECURITIES CORP. | $18K | 55.05% |
| WALLACHBETH CAPITAL LLC | $14K | 43.11% |
| DASH FINANCIAL TECHNOLOGIES LLC | $610 | 1.84% |
C000222487 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNP PARIBAS SECURITIES CORP. | $331.1M | 100.00% |
| WALLACHBETH CAPITAL LLC | $6 | 0.00% |
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.