CHEP Fees and Costs — AGFiQ U.S. Market Neutral Value Fund
Data updated: 2020-11-17
The net expense ratio is 1.42%: a 0.45% management fee plus 22.58% other expenses, less a 21.61% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $1K in broker commissions, 0.1132% of average net assets, and portfolio turnover was 122%.
CHEP Fees and Expenses
Annual operating expenses and sales charges of CHEP. Prospectus, as of June 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 22.58% |
| Gross expense ratio | 23.03% |
| Fee waiver | −21.61% |
| Net expense ratio | 1.42% |
| 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 |
CHEP Costs Over Time
On $10,000 invested in CHEP, assuming 5% a year before costs, total costs come to $949 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 1.42%) | $149 | $463 | $798 |
| Trading costs (broker commissions) | $12 | $37 | $64 |
| Lost growth on money paid in costs | $0 | $25 | $87 |
| Total costs | $161 | $524 | $949 |
| Value after costs | $10,339 | $11,052 | $11,814 |
| Impact on return, per year | 1.61% | 1.61% | 1.61% |
CHEP Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1132%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 122%
- Securities lending: none during the year
CHEP Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $506 | 47.96% |
| Scotia Capital (USA) Inc. | $294 | 27.87% |
| Morgan Stanley & Co., LLC | $255 | 24.17% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.