FSYIX Fees and Costs — FS Long/Short Equity Fund, Class I
Data updated: 2022-03-16
The net expense ratio is 1.35%: a 1.10% management fee plus 3.98% other expenses, less a 3.73% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 0%.
FSYIX Fees and Expenses
Annual operating expenses and sales charges of FSYIX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.00% |
| Other expenses | 3.98% |
| Gross expense ratio | 5.08% |
| Fee waiver | −3.73% |
| Net expense ratio | 1.35% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
FSYIX Costs Over Time
On $10,000 invested in FSYIX, assuming 5% a year before costs, total costs come to $839 over 5 years, cutting the return by 1.42% 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 1.35%) | $142 | $441 | $761 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $142 | $463 | $839 |
| Value after costs | $10,358 | $11,114 | $11,924 |
| Impact on return, per year | 1.42% | 1.42% | 1.42% |
FSYIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $636.1M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
FSYIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $460.9M | 72.46% |
| Goldman Sachs & Co. LLC | $128.2M | 20.15% |
| State Street Bank and Trust Company | $39.0M | 6.14% |
| SG Americas Securities, LLC | $8.0M | 1.25% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.