PAPEX Fees and Costs — NXG NextGen Infrastructure Fund, Class A
Data updated: 2024-02-13
The net expense ratio is 1.50%: a 0.85% management fee, a 0.25% 12b-1 fee plus 1.45% other expenses, less a 1.05% fee waiver. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2023 the fund paid $334K in broker commissions, 1.7406% of average net assets, and portfolio turnover was 241%.
PAPEX Fees and Expenses
Annual operating expenses and sales charges of PAPEX. Prospectus, as of March 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.45% |
| Gross expense ratio | 2.55% |
| Fee waiver | −1.05% |
| Net expense ratio | 1.50% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PAPEX Costs Over Time
On $10,000 invested in PAPEX, assuming 5% a year before costs, total costs come to $2,534 over 5 years, cutting the return by 4.55% 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 | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.50%) | $149 | $454 | $768 |
| Trading costs (broker commissions) | $173 | $526 | $892 |
| Lost growth on money paid in costs | $27 | $136 | $324 |
| Total costs | $899 | $1,666 | $2,534 |
| Value after costs | $9,601 | $9,910 | $10,229 |
| Impact on return, per year | 8.99% | 5.30% | 4.55% |
PAPEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 1.7406%
- Total broker commissions: $334K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 241%
- Securities lending: none during the year
PAPEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTG PACTUAL US CAPITAL LLC | $91K | 36.77% |
| RAYMOND JAMES & ASSOCIATES INC. | $32K | 12.92% |
| MORGAN STANLEY & CO. LLC | $22K | 8.71% |
| J.P. MORGAN SECURITIES LLC | $20K | 8.21% |
| INSTINET LLC | $19K | 7.68% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $18K | 7.20% |
| BTIG LLC | $14K | 5.65% |
| TUDOR PICKERING HOLT & CO ADVISORS LP | $12K | 4.88% |
| ROBERT W. BAIRD & CO. INCORPORATED | $10K | 4.21% |
| ISI FINANCIAL GROUP INC | $9K | 3.76% |
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.