HHIAX Fees and Costs — Hancock Horizon Diversified Income Fund, Investor Class
Data updated: 2021-08-26
The net expense ratio is 1.15%: a 0.70% management fee plus 0.82% other expenses, less a 0.37% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $64K in broker commissions, 0.1922% of average net assets, and portfolio turnover was 60%.
HHIAX Fees and Expenses
Annual operating expenses and sales charges of HHIAX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | — |
| Other expenses | 0.82% |
| Gross expense ratio | 1.52% |
| Fee waiver | −0.37% |
| Net expense ratio | 1.15% |
| 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 |
HHIAX Costs Over Time
On $10,000 invested in HHIAX, assuming 5% a year before costs, total costs come to $834 over 5 years, cutting the return by 1.41% 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 1.15%) | $121 | $375 | $649 |
| Trading costs (broker commissions) | $20 | $63 | $108 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $141 | $460 | $834 |
| Value after costs | $10,359 | $11,116 | $11,929 |
| Impact on return, per year | 1.41% | 1.41% | 1.41% |
HHIAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1922%
- Total broker commissions: $64K
- Bought from dealers (principal trades, not a cost): $8.9M
- Portfolio turnover (prospectus): 60%
- Securities lending: none during the year
HHIAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ITGI | $64K | 100.00% |
HHIAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPM CHASE | $2.0M | 24.21% |
| MARKET AXESS | $1.9M | 22.84% |
| BANK OF AMERICA | $1.0M | 12.83% |
| PERSHING LLC | $567K | 6.94% |
| WACHOVIA SECURITIES, INC. | $524K | 6.42% |
| PIPER JAFFRAY | $512K | 6.27% |
| WELLS FARGO SECURITIES | $500K | 6.12% |
| JEFFERIES LLC | $494K | 6.04% |
| PIPER, G W, & COMPANY, INC | $450K | 5.51% |
| BANNON & WHITNEY INC. | $229K | 2.81% |
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.