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Has anyone heard of a credit fund that is submanaged by Bain Capital? I tried Google, to no avail. Would like to take a look at its fee structure. Thanks!
The Adviser is entitled to receive a monthly fee at the annual rate of 1.85% of the Fund’s daily net assets. [There is a management agreement] to waive its fees and to pay or absorb the ordinary operating expenses ... to the extent that such expenses exceed 2.60% and 3.35% per annum of the Fund’s average daily net assets ... attributable to Class A and Class C shares, respectively
Aside from the 1.85% management fee, the A shares have a 0.25% servicing fee (equivalent to a 12b-1 fee), 0.83% in other expenses. Along with a 0.32% waiver, that brings Class A total expenses to 2.61%.
Class A CRDTX also carries a front end load. (Class C CGCCX carries a level load, shown as an extra 0.75% annual fee under 12b-1.)
Comments
See this article:
https://www.bostonglobe.com/business/2017/04/03/bain-capital-debt-arm-manage-first-fund-for-small-investors/MegEbPMuVUOP0w7Ycq0PbL/story.html (paywall...see first three paragraphs of article).
Prospectus for share classes A & C (including fee structure): https://www.griffincapital.com/Documents/GIACX/Marketing Materials/Sales Kit/CreditFund-Prospectus-ClassAC.pdf Aside from the 1.85% management fee, the A shares have a 0.25% servicing fee (equivalent to a 12b-1 fee), 0.83% in other expenses. Along with a 0.32% waiver, that brings Class A total expenses to 2.61%.
Class A CRDTX also carries a front end load. (Class C CGCCX carries a level load, shown as an extra 0.75% annual fee under 12b-1.)
Investor application form (must go through broker/dealer or RIA, see section 9): https://www.griffincapital.com/Documents/GIACX/Marketing Materials/Sales Kit/CreditFund-AccountApplication.pdf