NFMAX Fees and Costs — Newfound Multi-Asset Income Fund, Class A
Data updated: 2020-08-28
The net expense ratio is 2.05% (2.09% before fee waivers). This share class carries a maximum front-end sales load of 5.75% and a redemption fee of 1.00%. In fiscal 2020 the fund paid $27K in broker commissions, 0.1383% of average net assets, and portfolio turnover was 347%.
NFMAX Fees and Expenses
Annual operating expenses and sales charges of NFMAX. Prospectus, as of August 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.69% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.70% |
| Gross expense ratio | 2.09% |
| Fee waiver | −0.04% |
| Net expense ratio | 2.05% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
NFMAX Costs Over Time
On $10,000 invested in NFMAX, assuming 5% a year before costs, total costs come to $1,994 over 5 years, cutting the return by 3.51% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 2.05%) | $203 | $625 | $1,071 |
| Trading costs (broker commissions) | $14 | $42 | $72 |
| Lost growth on money paid in costs | $29 | $124 | $276 |
| Total costs | $820 | $1,366 | $1,994 |
| Value after costs | $9,680 | $10,210 | $10,769 |
| Impact on return, per year | 8.20% | 4.31% | 3.51% |
NFMAX 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): 0.1383%
- Total broker commissions: $27K
- Bought from dealers (principal trades, not a cost): $100.6M
- Portfolio turnover (prospectus): 347%
- Securities on loan, average value: $3.8M
- Net income from securities lending: $20K (0.102% of average net assets)
NFMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wolverine Trading LLC | $27K | 100.00% |
NFMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wolverine Trading LLC | $100.6M | 100.00% |
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.