HHLTX Fees and Costs — Hancock Horizon Louisiana Tax-Free Income Fund, Institutional Class
Data updated: 2021-08-26
The net expense ratio is 0.76%: a 0.60% management fee plus 0.99% other expenses, less a 0.84% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 8%.
HHLTX Fees and Expenses
Annual operating expenses and sales charges of HHLTX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | — |
| Other expenses | 0.99% |
| Gross expense ratio | 1.60% |
| Fee waiver | −0.84% |
| Net expense ratio | 0.76% |
| 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 |
HHLTX Costs Over Time
On $10,000 invested in HHLTX, assuming 5% a year before costs, total costs come to $478 over 5 years, cutting the return by 0.80% 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 0.76%) | $80 | $250 | $434 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $80 | $262 | $478 |
| Value after costs | $10,420 | $11,314 | $12,285 |
| Impact on return, per year | 0.80% | 0.80% | 0.80% |
HHLTX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $799K
- Portfolio turnover (prospectus): 8%
- Securities lending: none during the year
HHLTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| B. RILEY | $330K | 41.28% |
| RAYMOND JAMES | $285K | 35.68% |
| U.S. BANK | $184K | 23.04% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.