SMDPX Fees and Costs — Sterling Capital SMID Opportunities Fund, Class A
Data updated: 2024-02-23
The net expense ratio is 1.04%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.43% other expenses, less a 0.34% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2023 the fund paid $9K in broker commissions, 0.1401% of average net assets, and portfolio turnover was 23%.
SMDPX Fees and Expenses
Annual operating expenses and sales charges of SMDPX. Prospectus, as of January 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.43% |
| Gross expense ratio | 1.38% |
| Fee waiver | −0.34% |
| Net expense ratio | 1.04% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 | No |
SMDPX Costs Over Time
On $10,000 invested in SMDPX, assuming 5% a year before costs, total costs come to $1,427 over 5 years, cutting the return by 2.46% 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 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.04%) | $103 | $321 | $555 |
| Trading costs (broker commissions) | $14 | $43 | $75 |
| Lost growth on money paid in costs | $29 | $109 | $223 |
| Total costs | $721 | $1,047 | $1,427 |
| Value after costs | $9,779 | $10,529 | $11,336 |
| Impact on return, per year | 7.21% | 3.27% | 2.46% |
SMDPX 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): 0.1401%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $6.3M
- Portfolio turnover (prospectus): 23%
- Securities lending: none during the year
SMDPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $3K | 35.52% |
| EVERCORE GROUP L.L.C. | $2K | 24.98% |
| WELLS FARGO SECURITIES, LLC | $2K | 24.83% |
| MORGAN STANLEY & CO. LLC | $389 | 4.44% |
| KEEFE, BRUYETTE & WOODS, INC. | $234 | 2.67% |
| Stifel, Nicolaus & Company, Incorporated | $202 | 2.30% |
| Strategas Securities, LLC | $182 | 2.08% |
| B. RILEY SECURITIES, INC. | $136 | 1.55% |
| SANFORD C. BERNSTEIN & CO., LLC | $116 | 1.33% |
| BARCLAYS CAPITAL, INC. | $26 | 0.30% |
SMDPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS, INC. | $6.3M | 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.