FMSIX Fees and Costs — Frontier MFG Select Infrastructure Fund, Institutional Class
Data updated: 2023-09-08
The net expense ratio is 0.80%: a 0.80% management fee plus 0.21% other expenses, less a 0.21% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2023 the fund paid $32K in broker commissions, 0.0266% of average net assets, and portfolio turnover was 27%.
FMSIX Fees and Expenses
Annual operating expenses and sales charges of FMSIX. Prospectus, as of June 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.01% |
| Fee waiver | −0.21% |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| 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 |
FMSIX Costs Over Time
On $10,000 invested in FMSIX, assuming 5% a year before costs, total costs come to $519 over 5 years, cutting the return by 0.87% 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 0.80%) | $84 | $263 | $456 |
| Trading costs (broker commissions) | $3 | $9 | $15 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $87 | $285 | $519 |
| Value after costs | $10,413 | $11,292 | $12,244 |
| Impact on return, per year | 0.87% | 0.87% | 0.87% |
FMSIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0266%
- Total broker commissions: $32K
- Bought from dealers (principal trades, not a cost): $1.9M
- Portfolio turnover (prospectus): 27%
- Securities lending: none during the year
FMSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Financial Services, Inc | $9K | 39.73% |
| Sanford C Bernstein & Co LLC | $4K | 17.56% |
| Merrill Lynch Pierce Fenner & Smith Inc | $3K | 11.25% |
| Jarden Securities Ltd | $2K | 8.51% |
| ITG Inc | $2K | 8.12% |
| Macquarie Capital USA Inc | $2K | 7.42% |
| Citigroup Global Markets Inc | $2K | 7.41% |
FMSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS Financial Services Inc | $1.9M | 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.