ZFLAX Fees and Costs — Ziegler Senior Floating Rate Fund, Class A
Data updated: 2023-12-14
The net expense ratio is 1.01% (1.52% before fee waivers). This share class carries a maximum front-end sales load of 4.25%, a deferred sales charge of up to 1.00% and a redemption fee of 1.00%. Portfolio turnover was 26%.
ZFLAX Fees and Expenses
Annual operating expenses and sales charges of ZFLAX. Prospectus, as of January 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.60% |
| Gross expense ratio | 1.52% |
| Fee waiver | −0.51% |
| Net expense ratio | 1.01% |
| Sales charges | |
|---|---|
| Max front load | 4.25% |
| Max deferred load | 1.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
ZFLAX Costs Over Time
On $10,000 invested in ZFLAX, assuming 5% a year before costs, total costs come to $1,147 over 5 years, cutting the return by 1.96% 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 | $525 | $425 | $425 |
| Fund expenses (net expense ratio 1.01%) | $102 | $317 | $549 |
| Lost growth on money paid in costs | $21 | $83 | $173 |
| Total costs | $647 | $824 | $1,147 |
| Value after costs | $9,853 | $10,752 | $11,616 |
| Impact on return, per year | 6.47% | 2.55% | 1.96% |
ZFLAX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 26%
- Securities lending: none during the year
ZFLAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclay Investments, Ltd. | $1K | 100.00% |
ZFLAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $6.5M | 26.39% |
| CREDIT SUISSE | $3.9M | 15.83% |
| Barclay Investments, Ltd. | $3.4M | 13.56% |
| MORGAN STANLEY & CO. LLC | $2.6M | 10.54% |
| Merrill Lynch Pierce Fenner & Smith Inc. | $2.3M | 9.31% |
| JEFFERIES & COMPANY INC. | $1.5M | 5.87% |
| WELLS FARGO SECURITIES, LLC | $1.3M | 5.37% |
| GOLDMAN SACHS & CO | $1.3M | 5.23% |
| DEUTSCHE BANK SECURITIES INC. | $1.2M | 4.85% |
| RBC CAPITAL MARKETS LLC | $757K | 3.05% |
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.