CHNCX Fees and Costs — Clough China Fund, Class C
Data updated: 2022-03-31
The net expense ratio is 2.36%: a 1.00% management fee, a 1.00% 12b-1 fee plus 0.55% other expenses, less a 0.20% fee waiver. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2021 the fund paid $111K in broker commissions, 0.2494% of average net assets, and portfolio turnover was 114%.
CHNCX Fees and Expenses
Annual operating expenses and sales charges of CHNCX. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.55% |
| Gross expense ratio | 2.56% |
| Fee waiver | −0.20% |
| Net expense ratio | 2.36% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
CHNCX Costs Over Time
On $10,000 invested in CHNCX, assuming 5% a year before costs, total costs come to $1,581 over 5 years, cutting the return by 2.74% 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 |
| Sales charges | $102 | $0 | $0 |
| Fund expenses (net expense ratio 2.36%) | $248 | $760 | $1,296 |
| Trading costs (broker commissions) | $26 | $80 | $137 |
| Lost growth on money paid in costs | $0 | $42 | $147 |
| Total costs | $376 | $883 | $1,581 |
| Value after costs | $10,124 | $10,693 | $11,182 |
| Impact on return, per year | 3.76% | 2.74% | 2.74% |
CHNCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.2494%
- Total broker commissions: $111K
- Bought from dealers (principal trades, not a cost): $2.4M
- Portfolio turnover (prospectus): 114%
- Securities lending: none during the year
CHNCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE SECURITIES (USA) LLC | $16K | 17.81% |
| JEFFERIES LLC | $13K | 13.84% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $12K | 12.63% |
| JPMORGAN DISTRIBUTION SERVICES, INC. | $9K | 9.70% |
| CITICORP SECURITIES SERVICES, INC. | $9K | 9.65% |
| MACQUARIE CAPITAL (USA) INC. | $8K | 8.79% |
| CLSA AMERICAS, LLC | $8K | 8.58% |
| ALLIANCEBERNSTEIN INVESTMENTS, INC. | $6K | 6.87% |
| DBS VICKERS SECURITIES (USA) INC. | $6K | 6.71% |
| China International Capital Corporation Limited | $5K | 5.43% |
CHNCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $2.0M | 81.98% |
| GOLDMAN SACHS & CO. LLC | $441K | 18.02% |
Clough China Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CHNIX | Class I | 1.36% | none |
| CHCAX | Class A | 1.61% | 5.50% |
| CHNAX | Investor Shares | 1.61% | none |
| CHNCX | Class C | 2.36% | 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.