GLBNX Fees and Costs — Great Lakes Bond Fund, Institutional Class
Data updated: 2021-08-26
The net expense ratio is 0.60%. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $4K in broker commissions, 0.0045% of average net assets, and portfolio turnover was 87%.
GLBNX Fees and Expenses
Annual operating expenses and sales charges of GLBNX. Prospectus, as of July 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | — |
| Other expenses | 0.17% |
| Gross expense ratio | 0.60% |
| Fee waiver | — |
| Net expense ratio | 0.60% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
GLBNX Costs Over Time
On $10,000 invested in GLBNX, assuming 5% a year before costs, total costs come to $381 over 5 years, cutting the return by 0.63% 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 0.60%) | $63 | $197 | $344 |
| Trading costs (broker commissions) | $0 | $1 | $3 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $209 | $381 |
| Value after costs | $10,437 | $11,368 | $12,382 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
GLBNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0045%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $179.2M
- Portfolio turnover (prospectus): 87%
- Securities lending: none during the year
GLBNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wolverine Execution Services, LLC | $3K | 75.05% |
| Instinet LLC | $1K | 24.95% |
GLBNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $45.1M | 28.71% |
| CLEARVIEW TRADING ADVISORS, INC. | $25.2M | 16.01% |
| MESIROW FINANCIAL, INC. | $19.5M | 12.41% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $13.0M | 8.26% |
| FTB ADVISORS, INC. | $11.2M | 7.14% |
| CITIGROUP GLOBAL MARKETS INC. | $10.4M | 6.63% |
| MORGAN STANLEY & CO. LLC | $9.0M | 5.73% |
| MARKETAXESS CORPORATION | $8.7M | 5.54% |
| BNY MELLON CAPITAL MARKETS, LLC | $8.7M | 5.51% |
| TD SECURITIES, LLC | $6.4M | 4.06% |
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.