SLHIX Fees and Costs — Sirios Long/Short Fund, Institutional Class
Data updated: 2024-05-23
The net expense ratio is 1.66%: a 1.35% management fee plus 1.10% other expenses, less a 0.80% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $59K in broker commissions, 0.1983% of average net assets, and portfolio turnover was 79%.
SLHIX Fees and Expenses
Annual operating expenses and sales charges of SLHIX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.35% |
| 12b-1 fee | — |
| Other expenses | 1.10% |
| Gross expense ratio | 2.46% |
| Fee waiver | −0.80% |
| Net expense ratio | 1.66% |
| 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 |
SLHIX Costs Over Time
On $10,000 invested in SLHIX, assuming 5% a year before costs, total costs come to $1,143 over 5 years, cutting the return by 1.95% 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 1.66%) | $174 | $539 | $926 |
| Trading costs (broker commissions) | $21 | $64 | $111 |
| Lost growth on money paid in costs | $0 | $30 | $106 |
| Total costs | $195 | $633 | $1,143 |
| Value after costs | $10,305 | $10,943 | $11,620 |
| Impact on return, per year | 1.95% | 1.95% | 1.95% |
SLHIX 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): 0.1983%
- Total broker commissions: $59K
- Bought from dealers (principal trades, not a cost): $2K
- Portfolio turnover (prospectus): 79%
- Securities lending: none during the year
SLHIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $29K | 49.99% |
| MORGAN STANLEY & CO. LLC | $14K | 24.74% |
| NATIONAL FINANCIAL SERVICES LLC | $5K | 8.86% |
| RAYMOND JAMES FINANCIAL, INC. | $2K | 3.45% |
| CREDIT SUISSE SECURITIES (USA) LLC | $2K | 3.15% |
| J.P. Morgan Securities LLC | $2K | 2.66% |
| WELLS FARGO SECURITIES, LLC | $1K | 2.15% |
| KEYBANC CAPITAL MARKETS, INC. | $1K | 2.13% |
| Stifel, Nicolaus & Company, Incorporated | $894 | 1.56% |
| Robert W. Baird & Co. Incorporated | $740 | 1.29% |
SLHIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2K | 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.