[quote=newnew]so how DO you find out the fund's trading costs if they are not published?[/quote]

They are published, you just have to learn how to read.

i don’t mean the expense ratio–i mean the fund’s costs of trading (turnover in dollars of brokerage costs). and cool the immature snide remarks

[quote=granuja]

[quote=newnew]so how DO you find out the fund's trading costs if they are not published?[/quote]

They are published, you just have to learn how to read.

[/quote]

Yeah, cool the snide remarks. You walk in here like you're hoisting a ten foot length of two by four into position at a framing job, and swing the butt end around and smack New New on the back of the head. We don't need your negative s*** here, Grannuj.

[quote=icecream][quote=granuja]

[quote=newnew]so how DO you find out the fund's trading costs if they are not published?[/quote]

They are published, you just have to learn how to read.

[/quote]

Yeah, cool the snide remarks. You walk in here like you're hoisting a ten foot length of two by four into position at a framing job, and swing the butt end around and smack New New on the back of the head. We don't need your negative s*** here, Grannuj.

[/quote]

You're new here aren't you?  Why don't you head back to your other forum with all the other homo's.

STFU, do your words make you the articulate ambassador your other forum? Would your leader set you to the task of reprimanding those who are connected to diversified places of discourse, or should you seek out on your name calling knees the wrathful butt end smack of Grannuj’s two by four as you retreat to meditate in the shadows of the cave of discourse of which you infer to represent?

so how DO you find out the fund’s trading costs if they are not published?

[quote=icecream] STFU, do your words make you the articulate

ambassador your other forum? Would your leader set you to the task of

reprimanding those who are connected to diversified places of discourse, or

should you seek out on your name calling knees the wrathful butt end

smack of Grannuj’s two by four as you retreat to meditate in the shadows of

the cave of discourse of which you infer to represent? [/quote]



I fell asleep reading your post.

[quote=newnew]so how DO you find out the fund's trading costs if they are not published?[/quote]

The rule of thumb is that the trading costs are a function of turnover, and if you take the turnover % (i.e.75%), move the decimal two places to the left, you've got your trading costs (this is an approximation).

So: 75% annual turnover = 75bp in cost.

This is not some scientific study I conducted, just a "rule of thumb" I read about.  I welcome input from anyone that has heard something different.

Now, the trading costs cannot be directly deducted from a funds return.  The idea is that it theoretically takes more risk to get the same return in a MF, as a non-actively traded account (i.e. indiv stocks, SMA, etc.).  The reasoning is that the MF manager needs to get (in the example above) 75bp more in return to offset the internal trading costs, so they must take on a proportionate amount of risk to accomlish that.  This is one of the reasons that managers such as Dodge & Cox, American Funds, etc. seem to turn out good returns with lower than average risk and expenses compared to other active managers (look at their turnover numbers).

This is also a big argument that SMA managers use versus mutual funds.