PAOIX Fees and Costs — Preserver Alternative Opportunities Fund, Institutional Shares
Data updated: 2023-07-31
The net expense ratio is 1.41% (1.57% before fee waivers). This share class carries a redemption fee of 2.00%. In fiscal 2022 the fund paid $7K in broker commissions, 0.0244% of average net assets, and portfolio turnover was 81%.
PAOIX Fees and Expenses
Annual operating expenses and sales charges of PAOIX. Prospectus, as of December 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.77% |
| Gross expense ratio | 1.57% |
| Fee waiver | −0.16% |
| Net expense ratio | 1.41% |
| 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 |
PAOIX Costs Over Time
On $10,000 invested in PAOIX, assuming 5% a year before costs, total costs come to $889 over 5 years, cutting the return by 1.51% 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 |
| Fund expenses (net expense ratio 1.41%) | $148 | $460 | $794 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $23 | $82 |
| Total costs | $151 | $491 | $889 |
| Value after costs | $10,349 | $11,085 | $11,873 |
| Impact on return, per year | 1.51% | 1.51% | 1.51% |
PAOIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0244%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $1.2M
- Portfolio turnover (prospectus): 81%
- Securities lending: none during the year
PAOIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INTERACTIVE BROKERS LLC | $3K | 50.01% |
| J.P. Morgan Securities LLC | $3K | 49.99% |
PAOIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets LLC | $500K | 40.21% |
| LOOP CAPITAL MARKETS, LLC | $286K | 23.02% |
| Stifel Nicolaus & Company | $270K | 21.68% |
| HUNTINGTON NATIONAL BANK | $125K | 10.05% |
| INTERACTIVE BROKERS LLC | $62K | 5.03% |
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.