SAFFX Fees and Costs — Hedeker Strategic Appreciation Fund, Institutional Shares
Data updated: 2021-01-29
The net expense ratio is 1.42%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $1K in broker commissions, 0.0020% of average net assets, and portfolio turnover was 121%.
SAFFX Fees and Expenses
Annual operating expenses and sales charges of SAFFX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.41% |
| Gross expense ratio | — |
| Fee waiver | — |
| Net expense ratio | 1.42% |
| 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 | Yes |
SAFFX Costs Over Time
On $10,000 invested in SAFFX, assuming 5% a year before costs, total costs come to $882 over 5 years, cutting the return by 1.49% 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 1.42%) | $149 | $463 | $800 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $23 | $81 |
| Total costs | $149 | $487 | $882 |
| Value after costs | $10,351 | $11,089 | $11,881 |
| Impact on return, per year | 1.49% | 1.49% | 1.49% |
SAFFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0020%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $79.4M
- Portfolio turnover (prospectus): 121%
- Securities lending: none during the year
SAFFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| OPPENHEIMER and CO., INC. | $1K | 95.28% |
| JEFFERIES and CO. | $57 | 4.72% |
SAFFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES and CO. | $30.2M | 39.99% |
| LEERINK SWANN | $16.0M | 21.17% |
| J.P. MORGAN SECURITIES LLC | $6.4M | 8.42% |
| ROYAL BANK OF CANADA | $6.0M | 7.92% |
| BARCLAYS CAPITAL INC | $5.0M | 6.68% |
| OPPENHEIMER and CO., INC. | $3.3M | 4.40% |
| BTIG LLC | $3.2M | 4.25% |
| NOMURA SECURITIES INTERNATIONAL INC. | $1.9M | 2.50% |
| CITIGROUP GLOBAL MARKETS INC. | $1.8M | 2.36% |
| RAYMOND JAMES and ASSOCIATES INC | $1.7M | 2.30% |
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.