OSTRX Fees and Costs — Osterweis Total Return Fund, Investor Class
Data updated: 2024-06-13
The net expense ratio is 0.68%: a 0.45% management fee plus 0.22% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 279%.
OSTRX Fees and Expenses
Annual operating expenses and sales charges of OSTRX. Prospectus, as of June 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.22% |
| Gross expense ratio | 0.68% |
| Fee waiver | — |
| Net expense ratio | 0.68% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
OSTRX Costs Over Time
On $10,000 invested in OSTRX, assuming 5% a year before costs, total costs come to $428 over 5 years, cutting the return by 0.71% 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 0.68%) | $71 | $224 | $389 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $71 | $235 | $428 |
| Value after costs | $10,429 | $11,342 | $12,335 |
| Impact on return, per year | 0.71% | 0.71% | 0.71% |
OSTRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 279%
- Securities lending: none during the year
OSTRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $6K | 87.45% |
| CREDIT SUISSE SECURITIES (USA) LLC | $558 | 7.72% |
| INSTINET, LLC | $349 | 4.83% |
OSTRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $159.5M | 24.62% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $96.5M | 14.89% |
| MORGAN STANLEY & CO. LLC | $74.4M | 11.49% |
| J.P. MORGAN SECURITIES LLC | $70.2M | 10.84% |
| WELLS FARGO SECURITIES, LLC | $67.8M | 10.47% |
| CITADEL SECURITIES LLC | $53.1M | 8.19% |
| BNY MELLON CAPITAL MARKETS, LLC | $41.3M | 6.37% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $30.2M | 4.66% |
| DEUTSCHE BANK SECURITIES INC. | $28.1M | 4.34% |
| GOLDMAN SACHS & CO. LLC | $26.9M | 4.15% |
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.