KPFIX Fees and Costs — KP Fixed Income Fund, Institutional Shares
Data updated: 2020-11-25
The net expense ratio is 0.29%: a 0.22% management fee plus 0.07% other expenses. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $231 in broker commissions, and portfolio turnover was 325%.
KPFIX Fees and Expenses
Annual operating expenses and sales charges of KPFIX. Prospectus, as of May 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.22% |
| 12b-1 fee | — |
| Other expenses | 0.07% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
KPFIX Costs Over Time
On $10,000 invested in KPFIX, assuming 5% a year before costs, total costs come to $184 over 5 years, cutting the return by 0.30% 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 0.29%) | $30 | $96 | $167 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $30 | $100 | $184 |
| Value after costs | $10,470 | $11,476 | $12,579 |
| Impact on return, per year | 0.30% | 0.30% | 0.30% |
KPFIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: $231
- Bought from dealers (principal trades, not a cost): $12.9B
- Portfolio turnover (prospectus): 325%
- Securities lending: none during the year
KPFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $90 | 39.13% |
| MERRILL LYNCH, PIERCE, FENNER & | $57 | 24.64% |
| UBS WARBURG | $57 | 24.64% |
| UBS SECURITIES | $27 | 11.59% |
KPFIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO, INC | $1.6B | 17.39% |
| CITIGROUP GLOBAL MARKETS | $1.4B | 15.27% |
| GOLDMAN, SACHS & CO. | $1.2B | 12.49% |
| CHASE SECURITIES, INC. | $1.1B | 11.80% |
| WACHOVIA CAPITAL MARKETS | $1.1B | 11.50% |
| MONTGOMERY/BANK OF AMERICA | $981.3M | 10.48% |
| BARCLAYS CAPITAL INC - NY | $767.4M | 8.20% |
| CREDIT SUISSE FIRST BOSTON LLC. | $709.8M | 7.58% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $494.8M | 5.29% |
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.