C000224314 Fees and Costs — Easterly Multi Strategy Alternative Income Fund, Class I
Data updated: 2022-08-01
The net expense ratio is 3.04% (4.39% before fee waivers). There are no sales loads or redemption fees. In fiscal 2021 the fund paid $19K in broker commissions, 0.1388% of average net assets, and portfolio turnover was 229%.
C000224314 Fees and Expenses
Annual operating expenses and sales charges of C000224314. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 2.00% |
| 12b-1 fee | — |
| Other expenses | 1.08% |
| Gross expense ratio | 4.39% |
| Fee waiver | −1.35% |
| Net expense ratio | 3.04% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000224314 Costs Over Time
On $10,000 invested in C000224314, assuming 5% a year before costs, total costs come to $1,904 over 5 years, cutting the return by 3.34% 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 3.04%) | $319 | $974 | $1,650 |
| Trading costs (broker commissions) | $15 | $44 | $75 |
| Lost growth on money paid in costs | $0 | $51 | $178 |
| Total costs | $334 | $1,069 | $1,904 |
| Value after costs | $10,166 | $10,507 | $10,859 |
| Impact on return, per year | 3.34% | 3.34% | 3.34% |
C000224314 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.1388%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $17.4M
- Portfolio turnover (prospectus): 229%
- Securities lending: none during the year
C000224314 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS | $6K | 38.97% |
| JPMORGAN CHASE | $3K | 21.21% |
| SEAPORT GROUP | $2K | 11.10% |
| AEGIS CAPITAL CORP | $1K | 6.98% |
| FBN | $951 | 6.29% |
| CITIGROUP | $658 | 4.35% |
| AUERBACH GRAYSON | $462 | 3.05% |
| KNIGHT CAPITAL GROUP | $455 | 3.01% |
| ROTH CAPITAL PARTNERS | $442 | 2.92% |
| CREDIT SUISSE | $321 | 2.12% |
C000224314 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $3.2M | 26.59% |
| UBS AG | $1.9M | 15.84% |
| BNY MELLON | $1.3M | 10.80% |
| CITIGROUP | $1.2M | 9.64% |
| STIFEL NICOLAUS | $900K | 7.39% |
| ROYAL BANK OF CANADA CAPITAL MARKETS | $780K | 6.41% |
| PERSHING | $752K | 6.18% |
| BANK OF AMERICA MERRILL LYNCH | $734K | 6.03% |
| CREDIT SUISSE FIRST BOSTON | $705K | 5.79% |
| WELLS FARGO BANK | $650K | 5.34% |
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.