NCLIX Fees and Costs — Nuance Concentrated Value Long-Short Fund, Investor Class
Data updated: 2024-07-11
The net expense ratio is 3.51%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $172K in broker commissions, 0.1250% of average net assets, and portfolio turnover was 131%.
NCLIX Fees and Expenses
Annual operating expenses and sales charges of NCLIX. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.14% |
| Gross expense ratio | 3.51% |
| Fee waiver | — |
| Net expense ratio | 3.51% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
NCLIX Costs Over Time
On $10,000 invested in NCLIX, assuming 5% a year before costs, total costs come to $2,157 over 5 years, cutting the return by 3.82% 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 3.51%) | $369 | $1,119 | $1,887 |
| Trading costs (broker commissions) | $13 | $40 | $67 |
| Lost growth on money paid in costs | $0 | $58 | $203 |
| Total costs | $382 | $1,217 | $2,157 |
| Value after costs | $10,118 | $10,359 | $10,606 |
| Impact on return, per year | 3.82% | 3.82% | 3.82% |
NCLIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1250%
- Total broker commissions: $172K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 131%
- Securities lending: none during the year
NCLIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NATIONAL FINANCIAL SERVICES LLC | $21K | 18.89% |
| J.P. MORGAN SECURITIES LLC | $19K | 17.37% |
| JEFFERIES LLC | $18K | 15.81% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $13K | 11.73% |
| STEPHENS INC. | $10K | 9.01% |
| SANFORD C. BERNSTEIN & CO., LLC | $9K | 7.70% |
| BARCLAY INVESTMENTS LLC | $8K | 7.59% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $7K | 6.16% |
| CITIGROUP GLOBAL MARKETS INC. | $6K | 5.73% |
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.