Sponsor-related fees include an $843,184 dealer fee, $413,927 BD due diligence allowance, $413,927 BD marketing allowance, and annual asset management fees of 0.0%-0.30%.
Front-end fee composition
Dealer Fee$0.84M2.75%
Total front-end sponsor compensation$2,866,827 4.96% of acq. cost
Dealer Fee
$843,184
2.75%
Total Front-end Fees
$2,866,827
4.96%
Strengths
- Ongoing asset management fee is structured between 0.0% and 0.30% annually.
- Third-party broker dealer allowances are fixed and disclosed.
Concerns
- Dealer fee of $843,184 represents a significant front-end compensation component.
- Total broker-dealer allowances equal $827,854 combined.