C000229486 Fees and Costs — Westwood Total Return Fund, Institutional Class
Data updated: 2024-06-26
The net expense ratio is 0.40%: a 0.35% management fee plus 0.15% other expenses, less a 0.10% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $28K in broker commissions, 0.0224% of average net assets, and portfolio turnover was 53%.
C000229486 Fees and Expenses
Annual operating expenses and sales charges of C000229486. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | — |
| Other expenses | 0.15% |
| Gross expense ratio | 0.50% |
| Fee waiver | −0.10% |
| Net expense ratio | 0.40% |
| 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 | Yes |
C000229486 Costs Over Time
On $10,000 invested in C000229486, assuming 5% a year before costs, total costs come to $267 over 5 years, cutting the return by 0.44% 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 0.40%) | $42 | $132 | $230 |
| Trading costs (broker commissions) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $44 | $146 | $267 |
| Value after costs | $10,456 | $11,430 | $12,496 |
| Impact on return, per year | 0.44% | 0.44% | 0.44% |
C000229486 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0224%
- Total broker commissions: $28K
- Bought from dealers (principal trades, not a cost): $54.2M
- Portfolio turnover (prospectus): 53%
- Securities lending: none during the year
C000229486 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Northern Trust Securities, Inc. | $28K | 100.00% |
C000229486 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| HSBC SECURITIES (USA) INC | $20.4M | 40.34% |
| BOFA Securities, Inc. | $7.5M | 14.81% |
| J.P. Morgan Securities LLC | $5.9M | 11.75% |
| Wells Fargo Securities Co., LLC | $5.2M | 10.37% |
| CitiGroup Global Markets, Inc. | $3.7M | 7.35% |
| Morgan Stanley & Co., LLC | $2.3M | 4.50% |
| Goldman, Sachs & Co. | $1.6M | 3.23% |
| Marketaxess Corporation | $1.6M | 3.14% |
| RBC Capital Markets LLC | $1.4M | 2.73% |
| Barclays Capital, Inc. | $906K | 1.80% |
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.