THLSX Fees and Costs — Thornburg Long/Short Equity Fund, Class I
Data updated: 2021-05-25
The net expense ratio is 3.18%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $309K in broker commissions, 0.2110% of average net assets, and portfolio turnover was 69%.
THLSX Fees and Expenses
Annual operating expenses and sales charges of THLSX. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 3.18% |
| Fee waiver | — |
| Net expense ratio | 3.18% |
| 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 |
THLSX Costs Over Time
On $10,000 invested in THLSX, assuming 5% a year before costs, total costs come to $2,022 over 5 years, cutting the return by 3.56% 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 3.18%) | $334 | $1,016 | $1,718 |
| Trading costs (broker commissions) | $22 | $67 | $114 |
| Lost growth on money paid in costs | $0 | $55 | $190 |
| Total costs | $356 | $1,138 | $2,022 |
| Value after costs | $10,144 | $10,438 | $10,741 |
| Impact on return, per year | 3.56% | 3.56% | 3.56% |
THLSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.2110%
- Total broker commissions: $309K
- Bought from dealers (principal trades, not a cost): $519.1M
- Portfolio turnover (prospectus): 69%
- Securities lending: none during the year
THLSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $77K | 29.40% |
| Jefferies LLC | $50K | 19.38% |
| Goldman Sachs & Co. LLC | $43K | 16.58% |
| Sanford C. Bernstein & Co., LLC | $29K | 11.31% |
| Pershing LLC | $12K | 4.71% |
| Credit Suisse Securities (USA) LLC | $12K | 4.66% |
| Citigroup Global Markets Inc. | $11K | 4.18% |
| UBS Securities LLC | $9K | 3.45% |
| Barclays Capital Inc. | $8K | 3.22% |
| Morgan Stanley & Co. LLC | $8K | 3.11% |
THLSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $516.0M | 99.40% |
| Auerbach Grayson and Company LLC | $1.4M | 0.27% |
| Bofa Securities, Inc. | $1.0M | 0.20% |
| Credit Suisse Securities (USA) LLC | $650K | 0.13% |
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.