LMAOX Fees and Costs — BrandywineGLOBAL - Alternative Credit Fund, Class FI
Data updated: 2025-06-25
The net expense ratio is 1.66%: a 1.15% management fee, a 0.25% 12b-1 fee plus 0.57% other expenses, less a 0.32% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $544 in broker commissions, 0.0008% of average net assets, and portfolio turnover was 159%.
LMAOX Fees and Expenses
Annual operating expenses and sales charges of LMAOX. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.57% |
| Gross expense ratio | 1.98% |
| Fee waiver | −0.32% |
| Net expense ratio | 1.66% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
LMAOX Costs Over Time
On $10,000 invested in LMAOX, assuming 5% a year before costs, total costs come to $1,025 over 5 years, cutting the return by 1.74% 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 |
| Fund expenses (net expense ratio 1.66%) | $174 | $540 | $930 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $27 | $95 |
| Total costs | $174 | $567 | $1,025 |
| Value after costs | $10,326 | $11,009 | $11,738 |
| Impact on return, per year | 1.74% | 1.74% | 1.74% |
LMAOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0008%
- Total broker commissions: $544
- Bought from dealers (principal trades, not a cost): $237.7M
- Portfolio turnover (prospectus): 159%
- Securities lending: none during the year
LMAOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $379 | 69.70% |
| CITIGROUP GLOBAL MARKETS INC. | $165 | 30.30% |
LMAOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $68.0M | 37.32% |
| CitiGroup Global Markets Inc. | $16.6M | 9.08% |
| MORGAN STANLEY & CO. LLC | $15.8M | 8.65% |
| BARCLAYS CAPITAL, INC. | $14.5M | 7.96% |
| Goldman Sachs & Co. LLC | $14.4M | 7.91% |
| J.P. Morgan Securities LLC | $13.1M | 7.18% |
| WELLS FARGO SECURITIES, LLC | $13.0M | 7.11% |
| JANE STREET CAPITAL, LLC | $11.4M | 6.26% |
| JEFFERIES LLC | $8.8M | 4.85% |
| BMO CAPITAL MARKETS CORP. | $6.7M | 3.67% |
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.