RREIX Fees and Costs — REMS Real Estate Income 50/50 Fund, Institutional Shares
Data updated: 2020-10-29
The net expense ratio is 0.69%: a 0.45% management fee plus 0.66% other expenses, less a 0.42% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2019 the fund paid $49K in broker commissions, 0.1239% of average net assets, and portfolio turnover was 20%.
RREIX Fees and Expenses
Annual operating expenses and sales charges of RREIX. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.66% |
| Gross expense ratio | 1.11% |
| Fee waiver | −0.42% |
| Net expense ratio | 0.69% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
RREIX Costs Over Time
On $10,000 invested in RREIX, assuming 5% a year before costs, total costs come to $511 over 5 years, cutting the return by 0.85% 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 0.69%) | $72 | $226 | $394 |
| Trading costs (broker commissions) | $13 | $41 | $71 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $85 | $280 | $511 |
| Value after costs | $10,415 | $11,296 | $12,252 |
| Impact on return, per year | 0.85% | 0.85% | 0.85% |
RREIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.1239%
- Total broker commissions: $49K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
RREIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Capital Institutional Services, Inc. | $25K | 52.36% |
| Citigroup Global Markets Inc. | $6K | 11.58% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $4K | 8.95% |
| Green Street Trading, LLC | $4K | 8.41% |
| Mark J. Muller Equities, Inc. | $3K | 6.70% |
| RBC Capital Markets, LLC | $2K | 4.92% |
| Raymond James & Associates, Inc. | $2K | 3.94% |
| 1st Discount Brokerage, Inc. | $832 | 1.71% |
| B. Riley FBR, Inc. | $408 | 0.84% |
| Stifel Nicolaus & Co. Inc. | $288 | 0.59% |
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.