CAGLX Fees and Costs — Cornerstone Advisors Global Public Equity Fund, Institutional Shares
Data updated: 2021-09-28
The net expense ratio is 1.01%: a 0.64% management fee plus 0.37% other expenses. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $395K in broker commissions, 0.0897% of average net assets, and portfolio turnover was 96%.
CAGLX Fees and Expenses
Annual operating expenses and sales charges of CAGLX. Prospectus, as of February 28, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | — |
| Other expenses | 0.37% |
| Gross expense ratio | 1.01% |
| Fee waiver | — |
| Net expense ratio | 1.01% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
CAGLX Costs Over Time
On $10,000 invested in CAGLX, assuming 5% a year before costs, total costs come to $686 over 5 years, cutting the return by 1.15% 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 1.01%) | $106 | $331 | $573 |
| Trading costs (broker commissions) | $9 | $29 | $51 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $115 | $378 | $686 |
| Value after costs | $10,385 | $11,199 | $12,076 |
| Impact on return, per year | 1.15% | 1.15% | 1.15% |
CAGLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0897%
- Total broker commissions: $395K
- Bought from dealers (principal trades, not a cost): $1.7M
- Portfolio turnover (prospectus): 96%
- Securities lending: none during the year
CAGLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Macquarie | $41K | 16.39% |
| JP Morgan | $39K | 15.62% |
| Bank of America | $26K | 10.48% |
| Citigroup | $25K | 10.18% |
| Instinet | $22K | 9.01% |
| HSBC | $21K | 8.62% |
| Credit Suisse | $21K | 8.50% |
| Jefferies | $20K | 8.03% |
| UBS SECURITIES | $18K | 7.07% |
| Morgan Stanley | $15K | 6.11% |
CAGLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC | $368K | 25.03% |
| VIRTU | $338K | 22.96% |
| PERSHING LLC | $158K | 10.73% |
| Instinet | $138K | 9.36% |
| ITG | $106K | 7.20% |
| CANACCORD CAPITAL CORPORATION | $100K | 6.82% |
| BRYAN GARNIER & CO. LTD | $71K | 4.80% |
| DESJARDINS SECURITIES INC. | $69K | 4.70% |
| JP Morgan | $66K | 4.52% |
| COLLINS STEWART, INC. | $57K | 3.88% |
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.