CCMNX Fees and Costs — Ccm Alternative Income Fund, Institutional Class
Data updated: 2023-08-11
The net expense ratio is 1.73%. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $13K in broker commissions, 0.0560% of average net assets, and portfolio turnover was 35%.
CCMNX Fees and Expenses
Annual operating expenses and sales charges of CCMNX. Prospectus, as of September 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 1.73% |
| Fee waiver | — |
| Net expense ratio | 1.73% |
| 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 |
CCMNX Costs Over Time
On $10,000 invested in CCMNX, assuming 5% a year before costs, total costs come to $1,100 over 5 years, cutting the return by 1.88% 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 1.73%) | $182 | $562 | $967 |
| Trading costs (broker commissions) | $6 | $18 | $31 |
| Lost growth on money paid in costs | $0 | $29 | $102 |
| Total costs | $188 | $609 | $1,100 |
| Value after costs | $10,312 | $10,967 | $11,663 |
| Impact on return, per year | 1.88% | 1.88% | 1.88% |
CCMNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0560%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): $76.8M
- Portfolio turnover (prospectus): 35%
- Securities lending: none during the year
CCMNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JONES TRADING | $9K | 69.94% |
| GOLDMAN, SACHS & CO. | $2K | 14.40% |
| ADMIS | $634 | 4.85% |
| COWEN | $518 | 3.96% |
| LOOP CAPITAL | $331 | 2.53% |
| BANK OF MONTREAL | $249 | 1.90% |
| JEFFERIES LLC | $143 | 1.09% |
| WATERMILL INSTITUTIONAL TRADING LLC | $114 | 0.87% |
| ITG | $59 | 0.45% |
CCMNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MASS HOUSING | $5.1M | 27.64% |
| RAYMOND JAMES & ASSOCIATES, INC. | $3.7M | 19.88% |
| CABRERA CAPITAL MARKETS | $2.0M | 10.76% |
| JPM CHASE | $1.7M | 9.27% |
| CEROS BROKER SERVICE GMBH | $1.7M | 9.24% |
| GOLDMAN, SACHS & CO. | $1.3M | 6.84% |
| BANK OF AMERICA | $904K | 4.87% |
| SCHILLING, A. GARY, & CO., INC. | $834K | 4.49% |
| USAA BROKERAGE SERVICES | $735K | 3.96% |
| MARKETAXESS CORPORATION | $567K | 3.05% |
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.