HEDJX Fees and Costs — Scharf Alpha Opportunity Fund, Retail Class
Data updated: 2021-12-14
The net expense ratio is 1.99%: a 0.99% management fee, a 0.25% 12b-1 fee plus 2.16% other expenses, less a 1.41% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2021 the fund paid $4K in broker commissions, 0.0561% of average net assets, and portfolio turnover was 50%.
HEDJX Fees and Expenses
Annual operating expenses and sales charges of HEDJX. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.25% |
| Other expenses | 2.16% |
| Gross expense ratio | 3.40% |
| Fee waiver | −1.41% |
| Net expense ratio | 1.99% |
| 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 |
HEDJX Costs Over Time
On $10,000 invested in HEDJX, assuming 5% a year before costs, total costs come to $1,253 over 5 years, cutting the return by 2.15% 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 1.99%) | $209 | $645 | $1,106 |
| Trading costs (broker commissions) | $6 | $18 | $31 |
| Lost growth on money paid in costs | $0 | $33 | $116 |
| Total costs | $215 | $696 | $1,253 |
| Value after costs | $10,285 | $10,880 | $11,509 |
| Impact on return, per year | 2.15% | 2.15% | 2.15% |
HEDJX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0561%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 50%
- Securities lending: none during the year
HEDJX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $3K | 67.41% |
| Sanford C. Bernstein & Co. LLC | $1K | 27.58% |
| CHARLES SCHWAB & CO., INC. | $198 | 5.02% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.