C000227628 Fees and Costs — Sunbridge Capital Emerging Markets Fund, Institutional Class
Data updated: 2023-02-28
The net expense ratio is 1.28%: a 0.98% management fee plus 0.30% other expenses. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $1.4M in broker commissions, 0.2498% of average net assets, and portfolio turnover was 56%.
C000227628 Fees and Expenses
Annual operating expenses and sales charges of C000227628. Prospectus, as of August 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.98% |
| 12b-1 fee | — |
| Other expenses | 0.30% |
| Gross expense ratio | 1.28% |
| Fee waiver | — |
| Net expense ratio | 1.28% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000227628 Costs Over Time
On $10,000 invested in C000227628, assuming 5% a year before costs, total costs come to $947 over 5 years, cutting the return by 1.61% 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 1.28%) | $134 | $417 | $719 |
| Trading costs (broker commissions) | $26 | $81 | $140 |
| Lost growth on money paid in costs | $0 | $25 | $87 |
| Total costs | $161 | $523 | $947 |
| Value after costs | $10,339 | $11,053 | $11,816 |
| Impact on return, per year | 1.61% | 1.61% | 1.61% |
C000227628 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.2498%
- Total broker commissions: $1.4M
- Bought from dealers (principal trades, not a cost): $7.7M
- Portfolio turnover (prospectus): 56%
- Securities lending: none during the year
C000227628 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANC OF AMERICA SECURITIES LLC | $311K | 23.99% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $261K | 20.16% |
| UBS SECURITIES LLC | $187K | 14.40% |
| CREDIT SUISSE SECURITIES (USA) LLC | $105K | 8.11% |
| MACQUARIE CAPITAL (USA) INC. | $99K | 7.66% |
| ICICI SECURITIES INC. | $84K | 6.47% |
| CITIGROUP GLOBAL MARKETS INC. | $78K | 5.99% |
| HSBC SECURITIES (USA) INC. | $71K | 5.45% |
| JEFFERIES LLC | $67K | 5.21% |
| GOLDMAN SACHS & CO. LLC | $33K | 2.56% |
C000227628 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| KOTAK SECURITIES LIMITED | $6.9M | 90.32% |
| CREDIT SUISSE SECURITIES (USA) LLC | $712K | 9.27% |
| MORGAN STANLEY | $32K | 0.41% |
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.