LUCIX Fees and Costs — Legal & General U.S. Credit Fund, Institutional Shares
Data updated: 2024-04-01
The net expense ratio is 0.30%: a 0.23% management fee plus 1.48% other expenses, less a 1.41% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2023 the fund paid $707 in broker commissions, 0.0035% of average net assets, and portfolio turnover was 104%.
LUCIX Fees and Expenses
Annual operating expenses and sales charges of LUCIX. Prospectus, as of February 28, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.23% |
| 12b-1 fee | — |
| Other expenses | 1.48% |
| Gross expense ratio | 1.71% |
| Fee waiver | −1.41% |
| Net expense ratio | 0.30% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
LUCIX Costs Over Time
On $10,000 invested in LUCIX, assuming 5% a year before costs, total costs come to $193 over 5 years, cutting the return by 0.32% 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 0.30%) | $32 | $99 | $173 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $5 | $18 |
| Total costs | $32 | $105 | $193 |
| Value after costs | $10,468 | $11,471 | $12,570 |
| Impact on return, per year | 0.32% | 0.32% | 0.32% |
LUCIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0035%
- Total broker commissions: $707
- Bought from dealers (principal trades, not a cost): $60.0M
- Portfolio turnover (prospectus): 104%
- Securities lending: none during the year
LUCIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS | $707 | 100.00% |
LUCIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MONTGOMERY/BANK OF AMERICA | $8.9M | 18.00% |
| GOLDMAN, SACHS & CO. | $7.5M | 15.21% |
| JP MORGAN | $7.2M | 14.52% |
| BARCLAYS CAPITAL INC. FIXED INCOME | $5.8M | 11.80% |
| CITIGROUP GLOBAL MARKETS | $4.7M | 9.49% |
| BMO CAPITAL | $4.5M | 9.09% |
| MORGAN STANLEY & CO, INC | $3.6M | 7.37% |
| DEUTSCHE BANK SECURITIES, INC. | $3.2M | 6.40% |
| WELLS FARGO BROKERAGE SERVICES, LLC | $2.6M | 5.18% |
| SUNTRUST | $1.5M | 2.94% |
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.