WWEAX Fees and Costs — Westwood Emerging Markets Fund, Class A
Data updated: 2020-06-25
The net expense ratio is 1.47%. This share class carries a maximum front-end sales load of 3.00%. In fiscal 2019 the fund paid $386K in broker commissions, 0.1548% of average net assets, and portfolio turnover was 51%.
WWEAX Fees and Expenses
Annual operating expenses and sales charges of WWEAX. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.25% |
| Gross expense ratio | 1.47% |
| Fee waiver | — |
| Net expense ratio | 1.47% |
| Sales charges | |
|---|---|
| Max front load | 3.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
WWEAX Costs Over Time
On $10,000 invested in WWEAX, assuming 5% a year before costs, total costs come to $1,356 over 5 years, cutting the return by 2.33% 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 | $300 | $300 | $300 |
| Fund expenses (net expense ratio 1.47%) | $150 | $464 | $800 |
| Trading costs (broker commissions) | $16 | $49 | $84 |
| Lost growth on money paid in costs | $15 | $73 | $173 |
| Total costs | $480 | $886 | $1,356 |
| Value after costs | $10,020 | $10,690 | $11,406 |
| Impact on return, per year | 4.80% | 2.75% | 2.33% |
WWEAX 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): 0.1548%
- Total broker commissions: $386K
- Bought from dealers (principal trades, not a cost): $15.8M
- Portfolio turnover (prospectus): 51%
- Securities lending: none during the year
WWEAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Credit Suisse First Boston LLC | $73K | 22.20% |
| UBS Securities | $69K | 20.73% |
| Macquarie Capital | $36K | 10.92% |
| JP Morgan | $31K | 9.39% |
| Citigroup | $29K | 8.73% |
| Goldman Sachs | $28K | 8.43% |
| HSBC | $17K | 5.18% |
| Edelweiss Securities Limited | $17K | 5.15% |
| ITG | $16K | 4.90% |
| Morgan Stanley & Co | $14K | 4.36% |
WWEAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JP Morgan | $15.8M | 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.