CLOIX Fees and Costs — Clough Global Long/Short Fund, Class I
Data updated: 2023-04-03
The net expense ratio is 1.54% (2.61% before fee waivers). This share class carries a redemption fee of 2.00%. In fiscal 2022 the fund paid $175K in broker commissions, 0.3175% of average net assets, and portfolio turnover was 244%.
CLOIX Fees and Expenses
Annual operating expenses and sales charges of CLOIX. Prospectus, as of February 28, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.49% |
| Gross expense ratio | 2.61% |
| Fee waiver | −1.07% |
| Net expense ratio | 1.54% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
CLOIX Costs Over Time
On $10,000 invested in CLOIX, assuming 5% a year before costs, total costs come to $1,142 over 5 years, cutting the return by 1.95% 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 1.54%) | $162 | $500 | $859 |
| Trading costs (broker commissions) | $33 | $103 | $177 |
| Lost growth on money paid in costs | $0 | $30 | $106 |
| Total costs | $195 | $633 | $1,142 |
| Value after costs | $10,305 | $10,943 | $11,621 |
| Impact on return, per year | 1.95% | 1.95% | 1.95% |
CLOIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.3175%
- Total broker commissions: $175K
- Bought from dealers (principal trades, not a cost): $107.7M
- Portfolio turnover (prospectus): 244%
- Securities lending: none during the year
CLOIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $38K | 26.30% |
| VIRTU AMERICAS LLC | $29K | 20.32% |
| JEFFERIES LLC | $27K | 19.19% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $14K | 9.86% |
| UBS SECURITIES LLC | $9K | 6.28% |
| CREDIT SUISSE SECURITIES (USA) LLC | $6K | 4.52% |
| CITICORP SECURITIES SERVICES, INC. | $6K | 3.87% |
| JMP SECURITIES LLC | $5K | 3.63% |
| SVB LEERINK LLC | $5K | 3.17% |
| WELLS FARGO SECURITIES, LLC | $4K | 2.86% |
CLOIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ROBERT W BAIRD (RWB) | $95.8M | 88.98% |
| FIFTH THIRD SECURITIES, INC. | $3.0M | 2.77% |
| MORGAN STANLEY | $2.5M | 2.28% |
| RBC CAPITAL MARKETS, LLC | $2.4M | 2.28% |
| PIPER SANDLER | $2.0M | 1.87% |
| LEGG MASON INVESTOR SERVICES, LLC | $984K | 0.91% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $586K | 0.54% |
| CREDIT SUISSE SECURITIES (USA) LLC | $396K | 0.37% |
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.