PSOMX Fees and Costs — SystematEx International Fund, Institutional Class
Data updated: 2020-07-24
The net expense ratio is 0.75%: a 0.60% management fee plus 6.47% other expenses, less a 6.32% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $12K in broker commissions, 0.0233% of average net assets, and portfolio turnover was 11%.
PSOMX Fees and Expenses
Annual operating expenses and sales charges of PSOMX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 6.47% |
| Gross expense ratio | 7.07% |
| Fee waiver | −6.32% |
| Net expense ratio | 0.75% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 | No |
PSOMX Costs Over Time
On $10,000 invested in PSOMX, assuming 5% a year before costs, total costs come to $486 over 5 years, cutting the return by 0.81% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $13 | $44 |
| Total costs | $81 | $266 | $486 |
| Value after costs | $10,419 | $11,310 | $12,277 |
| Impact on return, per year | 0.81% | 0.81% | 0.81% |
PSOMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0233%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $24.0M
- Portfolio turnover (prospectus): 11%
- Securities on loan, average value: $214K
- Net income from securities lending: $739 (0.001% of average net assets)
PSOMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE GROUP | $5K | 42.95% |
| GOLDMAN SACHS CO. | $2K | 15.51% |
| CREDIT AGRICOLE CORP INVESTMENT BANKING | $1K | 9.55% |
| BARCLAYS CAPITAL INC. | $929 | 7.89% |
| CITIGROUP GLOBAL MARKETS | $668 | 5.68% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $658 | 5.59% |
| M3 CAPITAL PARTNERS | $576 | 4.90% |
| ICHIYOSHI SECURITIES | $389 | 3.31% |
| NOMURA SECURITIES INT'L INC. | $303 | 2.58% |
| JEFFERIES & COMPANY | $240 | 2.04% |
PSOMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| COMPUTERSHARE TRUST CO. (TRANSFER AGENT) | $3K | 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.