REPOX Fees and Costs — AAAMCO Ultrashort Financing Fund, Class I
Data updated: 2023-09-13
The net expense ratio is 0.35%: a 0.30% management fee, a 0.10% 12b-1 fee plus 0.10% other expenses, less a 0.15% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 0%.
REPOX Fees and Expenses
Annual operating expenses and sales charges of REPOX. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.10% |
| Other expenses | 0.10% |
| Gross expense ratio | 0.50% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.35% |
| 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 | Yes |
REPOX Costs Over Time
On $10,000 invested in REPOX, assuming 5% a year before costs, total costs come to $222 over 5 years, cutting the return by 0.37% 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 0.35%) | $37 | $115 | $202 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $37 | $121 | $222 |
| Value after costs | $10,463 | $11,455 | $12,541 |
| Impact on return, per year | 0.37% | 0.37% | 0.37% |
REPOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $3.0B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
REPOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BREAN CAPITAL LLC | $109.7M | 18.08% |
| Stifel & Nicolaus & Co | $93.9M | 15.47% |
| ORCHID ISLAND | $86.7M | 14.29% |
| Brean Murray | $86.4M | 14.23% |
| AMHERST SECURITIES | $80.0M | 13.18% |
| SOLOMON HESS | $55.7M | 9.18% |
| JVB FINANCIAL GROUP LLC | $51.6M | 8.51% |
| BANK OF MONTREAL | $41.3M | 6.80% |
| BMO Bank National Association | $1.6M | 0.27% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.