C000230312 Fees and Costs — Easterly Snow Long/Short Opportunity Fund, Class I
Data updated: 2026-07-20
The net expense ratio is 1.85%: a 0.80% management fee plus 1.04% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $24K in broker commissions, 0.0260% of average net assets, and portfolio turnover was 24%.
C000230312 Fees and Expenses
Annual operating expenses and sales charges of C000230312. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.04% |
| Gross expense ratio | 1.85% |
| Fee waiver | — |
| Net expense ratio | 1.85% |
| 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 | No |
| Waived fees subject to recoupment | Yes |
C000230312 Costs Over Time
On $10,000 invested in C000230312, assuming 5% a year before costs, total costs come to $1,153 over 5 years, cutting the return by 1.97% 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 1.85%) | $194 | $601 | $1,032 |
| Trading costs (broker commissions) | $3 | $8 | $15 |
| Lost growth on money paid in costs | $0 | $30 | $107 |
| Total costs | $197 | $639 | $1,153 |
| Value after costs | $10,303 | $10,937 | $11,610 |
| Impact on return, per year | 1.97% | 1.97% | 1.97% |
C000230312 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0260%
- Total broker commissions: $24K
- Bought from dealers (principal trades, not a cost): $1.8M
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
C000230312 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| COWEN GROUP | $12K | 51.54% |
| RBC Capital Markets | $4K | 16.07% |
| BARCLAYS | $3K | 12.95% |
| RAYMOND JAMES | $2K | 9.68% |
| PIPER SANDLER | $701 | 3.06% |
| JEFFERIES & COMPANY INC. | $650 | 2.84% |
| J.P. MORGAN CHASE | $410 | 1.79% |
| MORGAN STANLEY & CO. INC. | $199 | 0.87% |
| GOLDMAN SACHS | $150 | 0.66% |
| BANK OF AMERICA MERRILL LYNCH | $122 | 0.54% |
C000230312 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RAYMOND JAMES | $1.8M | 100.00% |
Easterly Snow Long/Short Opportunity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SNORX | Class R6 | 1.64% | none |
| C000230312 | Class I | 1.85% | none |
| C000230314 | Class A | 2.10% | 5.75% |
| C000230311 | Class C | 2.84% | none |
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.