RCTEX Fees and Costs — Rockefeller Intermediate Tax Exempt National Bond Fund, Institutional Class
Data updated: 2022-06-27
The net expense ratio is 0.66%: a 0.35% management fee plus 0.31% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 17%.
RCTEX Fees and Expenses
Annual operating expenses and sales charges of RCTEX. Prospectus, as of March 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | — |
| Other expenses | 0.31% |
| Gross expense ratio | 0.66% |
| Fee waiver | — |
| Net expense ratio | 0.66% |
| 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 |
RCTEX Costs Over Time
On $10,000 invested in RCTEX, assuming 5% a year before costs, total costs come to $416 over 5 years, cutting the return by 0.69% 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 0.66%) | $69 | $217 | $378 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $228 | $416 |
| Value after costs | $10,431 | $11,349 | $12,347 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
RCTEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $56.2M
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
RCTEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $6.9M | 17.25% |
| BARCLAYS CAPITAL INC. | $6.8M | 17.07% |
| RBC CAPITAL MARKETS LLC | $4.9M | 12.38% |
| WELLS FARGO SECURITIES LLC | $4.9M | 12.20% |
| FHN FINANCIAL SECURITIES CORP. | $3.2M | 8.15% |
| TRADEWEB DIRECT LLC | $3.2M | 8.14% |
| GOLDMAN SACHS & CO. LLC | $3.1M | 7.69% |
| SIEBERT WILLIAMS SHANK & CO. LLC | $2.5M | 6.36% |
| CITIGROUP GLOBAL MARKETS INC. | $2.3M | 5.67% |
| UBS SECURITIES LLC | $2.0M | 5.09% |
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.