RAACX Fees and Costs — Altegris/AACA Opportunistic Real Estate Fund, Class C
Data updated: 2025-12-01
The net expense ratio is 3.53% (3.69% before fee waivers). This share class carries a deferred sales charge of up to 1.00% and a redemption fee of 1.00%. In fiscal 2024 the fund paid $184K in broker commissions, 0.1269% of average net assets, and portfolio turnover was 44%.
RAACX Fees and Expenses
Annual operating expenses and sales charges of RAACX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.30% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.41% |
| Gross expense ratio | 3.69% |
| Fee waiver | −0.16% |
| Net expense ratio | 3.53% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| 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 |
RAACX Costs Over Time
On $10,000 invested in RAACX, assuming 5% a year before costs, total costs come to $2,169 over 5 years, cutting the return by 3.84% 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 | $101 | $0 | $0 |
| Fund expenses (net expense ratio 3.53%) | $371 | $1,125 | $1,897 |
| Trading costs (broker commissions) | $13 | $40 | $68 |
| Lost growth on money paid in costs | $0 | $59 | $204 |
| Total costs | $485 | $1,224 | $2,169 |
| Value after costs | $10,015 | $10,352 | $10,594 |
| Impact on return, per year | 4.85% | 3.84% | 3.84% |
RAACX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1269%
- Total broker commissions: $184K
- Bought from dealers (principal trades, not a cost): $1.6M
- Portfolio turnover (prospectus): 44%
- Securities lending: none during the year
RAACX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $75K | 40.70% |
| WATERMILL INSTITUTIONAL TRADING LLC | $50K | 27.12% |
| STIFEL NICOLAUS | $46K | 24.91% |
| RAYMOND JAMES | $6K | 3.25% |
| ALEX.BROWN | $4K | 2.09% |
| COMPASS POINT | $4K | 1.93% |
RAACX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $1.6M | 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.