CPMNX Fees and Costs — Convergence Market Neutral Fund, Institutional Class
Data updated: 2021-02-11
The net expense ratio is 2.85%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $103K in broker commissions, 0.3004% of average net assets, and portfolio turnover was 290%.
CPMNX Fees and Expenses
Annual operating expenses and sales charges of CPMNX. Prospectus, as of March 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 2.85% |
| Fee waiver | — |
| Net expense ratio | 2.85% |
| 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 |
CPMNX Costs Over Time
On $10,000 invested in CPMNX, assuming 5% a year before costs, total costs come to $1,888 over 5 years, cutting the return by 3.31% 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 2.85%) | $299 | $913 | $1,548 |
| Trading costs (broker commissions) | $32 | $96 | $163 |
| Lost growth on money paid in costs | $0 | $51 | $177 |
| Total costs | $331 | $1,060 | $1,888 |
| Value after costs | $10,169 | $10,516 | $10,875 |
| Impact on return, per year | 3.31% | 3.31% | 3.31% |
CPMNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.3004%
- Total broker commissions: $103K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 290%
- Securities lending: none during the year
CPMNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PERSHING LLC | $70K | 67.73% |
| CREDIT SUISSE SECURITIES (USA) LLC | $33K | 32.27% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.