CMSIX Fees and Costs — Altegris/Crabel Multi-Strategy Fund, Class I
Data updated: 2024-11-25
The net expense ratio is 1.75%: a 1.50% management fee plus 16.35% other expenses, less a 16.11% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $3K in broker commissions, 0.1849% of average net assets, and portfolio turnover was 0%.
CMSIX Fees and Expenses
Annual operating expenses and sales charges of CMSIX. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 16.35% |
| Gross expense ratio | 17.86% |
| Fee waiver | −16.11% |
| Net expense ratio | 1.75% |
| 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 |
CMSIX Costs Over Time
On $10,000 invested in CMSIX, assuming 5% a year before costs, total costs come to $1,188 over 5 years, cutting the return by 2.03% 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 1.75%) | $184 | $568 | $975 |
| Trading costs (broker commissions) | $19 | $60 | $103 |
| Lost growth on money paid in costs | $0 | $31 | $110 |
| Total costs | $203 | $659 | $1,188 |
| Value after costs | $10,297 | $10,917 | $11,575 |
| Impact on return, per year | 2.03% | 2.03% | 2.03% |
CMSIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1849%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $15.3M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
CMSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JP MORGAN SECURITIES LLC | $3K | 100.00% |
CMSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| US BANCORP | $15.3M | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.