WSCIX Fees and Costs — Westwood Strategic Global Convertibles Fund, Institutional Class
Data updated: 2020-01-14
The net expense ratio is 0.86%: a 0.75% management fee plus 1.88% other expenses, less a 1.78% fee waiver. This share class carries a redemption fee of 1.00%. Portfolio turnover was 175%.
WSCIX Fees and Expenses
Annual operating expenses and sales charges of WSCIX. Prospectus, as of February 28, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 1.88% |
| Gross expense ratio | 2.64% |
| Fee waiver | −1.78% |
| Net expense ratio | 0.86% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
WSCIX Costs Over Time
On $10,000 invested in WSCIX, assuming 5% a year before costs, total costs come to $539 over 5 years, cutting the return by 0.90% 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 0.86%) | $90 | $282 | $490 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $90 | $296 | $539 |
| Value after costs | $10,410 | $11,280 | $12,223 |
| Impact on return, per year | 0.90% | 0.90% | 0.90% |
WSCIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $156.9M
- Portfolio turnover (prospectus): 175%
- Securities lending: none during the year
WSCIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jefferies | $40.8M | 29.72% |
| Merrill Lynch | $22.7M | 16.50% |
| Barclays Capital | $21.1M | 15.37% |
| JP Morgan | $21.0M | 15.31% |
| Citigroup | $9.1M | 6.61% |
| Wachovia Capital Markets | $8.1M | 5.88% |
| Morgan Stanley | $4.6M | 3.37% |
| Autonomous research | $3.6M | 2.59% |
| Credit Suisse First Boston | $3.3M | 2.41% |
| Deutsche Bank | $3.1M | 2.23% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.