INNAX Fees and Costs — North Square Global Resources & Infrastructure Fund, Class A
Data updated: 2020-06-15
The net expense ratio is 1.40%: a 1.00% management fee, a 0.25% 12b-1 fee plus 1.32% other expenses, less a 1.17% fee waiver. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2020 the fund paid $5K in broker commissions, 0.0504% of average net assets, and portfolio turnover was 20%.
INNAX Fees and Expenses
Annual operating expenses and sales charges of INNAX. Prospectus, as of July 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.32% |
| Gross expense ratio | 2.57% |
| Fee waiver | −1.17% |
| Net expense ratio | 1.40% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
INNAX Costs Over Time
On $10,000 invested in INNAX, assuming 5% a year before costs, total costs come to $1,581 over 5 years, cutting the return by 2.74% 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 |
| Sales charges | $673 | $575 | $575 |
| Fund expenses (net expense ratio 1.40%) | $139 | $430 | $743 |
| Trading costs (broker commissions) | $5 | $15 | $27 |
| Lost growth on money paid in costs | $29 | $113 | $237 |
| Total costs | $845 | $1,134 | $1,581 |
| Value after costs | $9,655 | $10,443 | $11,182 |
| Impact on return, per year | 8.45% | 3.55% | 2.74% |
INNAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0504%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
INNAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cowen and Company LLC | $4K | 91.67% |
| BNP Paribas Securities Corp | $219 | 4.60% |
| Cowen Execution Services LLC | $177 | 3.72% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.