GSOFX Fees and Costs — GMO Special Opportunities Fund, Class VI
Data updated: 2021-01-29
The net expense ratio is 1.22%: a 1.16% management fee plus 0.06% other expenses. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $67K in broker commissions, 0.0187% of average net assets, and portfolio turnover was 43%.
GSOFX Fees and Expenses
Annual operating expenses and sales charges of GSOFX. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.16% |
| 12b-1 fee | — |
| Other expenses | 0.06% |
| Gross expense ratio | 1.22% |
| Fee waiver | — |
| Net expense ratio | 1.22% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
GSOFX Costs Over Time
On $10,000 invested in GSOFX, assuming 5% a year before costs, total costs come to $771 over 5 years, cutting the return by 1.30% 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 1.22%) | $128 | $399 | $690 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $20 | $71 |
| Total costs | $130 | $425 | $771 |
| Value after costs | $10,370 | $11,151 | $11,992 |
| Impact on return, per year | 1.30% | 1.30% | 1.30% |
GSOFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 29, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0187%
- Total broker commissions: $67K
- Bought from dealers (principal trades, not a cost): $520.9M
- Portfolio turnover (prospectus): 43%
- Securities lending: none during the year
GSOFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Fidelity Capital Markets, Inc. | $16K | 25.09% |
| J.P. Morgan Securities LLC | $10K | 15.47% |
| Jefferies LLC | $9K | 14.09% |
| Societe Generale | $9K | 13.72% |
| Investec Bank PLC | $6K | 9.17% |
| Instinet, LLC | $4K | 6.94% |
| Virtu Itg LLC | $4K | 6.17% |
| UBS Securities LLC | $2K | 3.55% |
| Liquidnet, Inc. | $2K | 3.12% |
| Sanford C. Bernstein & Co., LLC | $2K | 2.68% |
GSOFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $348.9M | 66.99% |
| Mizuho Securities USA LLC | $51.9M | 9.97% |
| Citigroup Global Markets Inc. | $49.3M | 9.46% |
| BNP Paribas Securities Corp. | $20.8M | 3.99% |
| Citadel Securities LLC | $19.0M | 3.64% |
| Nomura Securities International, Inc. | $18.0M | 3.45% |
| Barclays Capital Inc. | $8.0M | 1.53% |
| RBC Capital Markets, LLC | $5.0M | 0.96% |
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.