CSIAX Fees and Costs — Centerstone International Fund, Class A
Data updated: 2021-03-01
The net expense ratio is 1.42% (1.62% before fee waivers). This share class carries a maximum front-end sales load of 5.00%, a deferred sales charge of up to 1.00% and a redemption fee of 2.00%. In fiscal 2020 the fund paid $234K in broker commissions, 0.1270% of average net assets, and portfolio turnover was 30%.
CSIAX Fees and Expenses
Annual operating expenses and sales charges of CSIAX. Prospectus, as of July 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.40% |
| Gross expense ratio | 1.62% |
| Fee waiver | −0.20% |
| Net expense ratio | 1.42% |
| Sales charges | |
|---|---|
| Max front load | 5.00% |
| Max deferred load | 1.00% |
| 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 |
CSIAX Costs Over Time
On $10,000 invested in CSIAX, assuming 5% a year before costs, total costs come to $1,547 over 5 years, cutting the return by 2.68% 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 | $598 | $500 | $500 |
| Fund expenses (net expense ratio 1.42%) | $142 | $439 | $758 |
| Trading costs (broker commissions) | $13 | $39 | $68 |
| Lost growth on money paid in costs | $25 | $103 | $222 |
| Total costs | $778 | $1,081 | $1,547 |
| Value after costs | $9,722 | $10,495 | $11,215 |
| Impact on return, per year | 7.78% | 3.38% | 2.68% |
CSIAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1270%
- Total broker commissions: $234K
- Bought from dealers (principal trades, not a cost): $42.4M
- Portfolio turnover (prospectus): 30%
- Securities on loan, average value: $1.8M
- Net income from securities lending: $3K (0.002% of average net assets)
CSIAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CLSA | $41K | 18.86% |
| CREDIT SUISSE | $38K | 17.50% |
| ODDO & CIE | $26K | 12.11% |
| AURIGA USA | $23K | 10.71% |
| HANDELSBANKEN | $20K | 9.03% |
| BERENBERG | $19K | 8.70% |
| BTIG LLC | $14K | 6.48% |
| REDBURN PARTNERS | $13K | 6.05% |
| ROYAL BANK OF CANADA CAPITAL MARKETS | $12K | 5.51% |
| DAIWA SECURITIES | $11K | 5.03% |
CSIAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BB&T CAPITAL MARKETS | $42.4M | 100.00% |
| CREDIT SUISSE | $2K | 0.00% |
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.