SFFIX Fees and Costs — Sirios Focus Fund Series, Institutional Class
Data updated: 2024-05-23
The net expense ratio is 1.62% (2.97% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $20K in broker commissions, 0.1818% of average net assets, and portfolio turnover was 80%.
SFFIX Fees and Expenses
Annual operating expenses and sales charges of SFFIX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | — |
| Other expenses | 2.05% |
| Gross expense ratio | 2.97% |
| Fee waiver | −1.35% |
| Net expense ratio | 1.62% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
SFFIX Costs Over Time
On $10,000 invested in SFFIX, assuming 5% a year before costs, total costs come to $1,109 over 5 years, cutting the return by 1.89% 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 1.62%) | $170 | $526 | $905 |
| Trading costs (broker commissions) | $19 | $59 | $102 |
| Lost growth on money paid in costs | $0 | $29 | $103 |
| Total costs | $189 | $615 | $1,109 |
| Value after costs | $10,311 | $10,962 | $11,654 |
| Impact on return, per year | 1.89% | 1.89% | 1.89% |
SFFIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1818%
- Total broker commissions: $20K
- Bought from dealers (principal trades, not a cost): $760
- Portfolio turnover (prospectus): 80%
- Securities lending: none during the year
SFFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $11K | 53.94% |
| MORGAN STANLEY & CO. LLC | $4K | 18.68% |
| NATIONAL FINANCIAL SERVICES LLC | $2K | 9.32% |
| RAYMOND JAMES FINANCIAL, INC. | $764 | 3.83% |
| CREDIT SUISSE SECURITIES (USA) LLC | $688 | 3.45% |
| J.P. Morgan Securities LLC | $594 | 2.98% |
| KEYBANC CAPITAL MARKETS, INC. | $485 | 2.43% |
| WELLS FARGO SECURITIES, LLC | $464 | 2.33% |
| Stifel, Nicolaus & Company, Incorporated | $333 | 1.67% |
| Robert W. Baird & Co. Incorporated | $269 | 1.35% |
SFFIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $760 | 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.