FBBAX Fees and Costs — First Foundation Total Return Fund, Class A
Data updated: 2026-08-27
The net expense ratio is 1.32%: a 0.50% management fee, a 0.25% 12b-1 fee plus 0.57% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $41K in broker commissions, 0.0445% of average net assets, and portfolio turnover was 22%.
FBBAX Fees and Expenses
Annual operating expenses and sales charges of FBBAX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.57% |
| Gross expense ratio | 1.32% |
| Fee waiver | — |
| Net expense ratio | 1.32% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
FBBAX Costs Over Time
On $10,000 invested in FBBAX, assuming 5% a year before costs, total costs come to $1,532 over 5 years, cutting the return by 2.65% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.32%) | $131 | $406 | $701 |
| Trading costs (broker commissions) | $4 | $14 | $24 |
| Lost growth on money paid in costs | $29 | $111 | $232 |
| Total costs | $739 | $1,106 | $1,532 |
| Value after costs | $9,761 | $10,470 | $11,230 |
| Impact on return, per year | 7.39% | 3.46% | 2.65% |
FBBAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0445%
- Total broker commissions: $41K
- Bought from dealers (principal trades, not a cost): $29.5M
- Portfolio turnover (prospectus): 22%
- Securities lending: none during the year
FBBAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $27K | 68.12% |
| CITIGROUP | $9K | 21.16% |
| SOCIETE GENERAL | $1K | 2.98% |
| BAML | $749 | 1.86% |
| ACCESS SECURITIES | $575 | 1.43% |
| LUMINEX TRADING | $481 | 1.19% |
| LIQUIDNET | $439 | 1.09% |
| JP MORGAN | $336 | 0.83% |
| INCAPITAL LLC | $315 | 0.78% |
| UBS FINANCIAL MARKETS | $226 | 0.56% |
FBBAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY AND CO | $15.2M | 44.34% |
| JP MORGAN CHASE | $11.8M | 34.53% |
| BAML | $2.5M | 7.29% |
| MORGAN STANLEY | $1000K | 2.92% |
| JEFFERIES | $996K | 2.91% |
| INCAPITAL LLC | $796K | 2.33% |
| SOCIETE GENERALE | $500K | 1.46% |
| FIRST HORIZON | $500K | 1.46% |
| CITIGROUP | $500K | 1.46% |
| UBS FINANCIAL SERVICES | $448K | 1.31% |
First Foundation Total Return Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FBBYX | Class Y | 1.07% | none |
| FBBAX | Class A | 1.32% | 5.75% |
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.