Kayne Anderson Fund Advisors

KMF - Midstream/Energy Fund

KMF - Expense Ratios

The following table sets forth the components of the ratio of expenses to average net assets for each period presented. Unless otherwise noted, ratios are annualized.

 

      For the Fiscal Year Ended November 30,
    For the Nine Months Ended
Aug 31, 2017 (Unaudited)
2016 2015 2014 2013 2012 2011
Management fees(1) 1.7% 1.8% 1.9% 1.7% 1.8% 1.7% 1.6%
Other expenses 0.4 0.5 0.2 0.2 0.2 0.3 0.3
Subtotal 2.1 2.3 2.1 1.9 2.1 2.0 1.9
Interest expense and distributions on mandatory redeemable preferred stock(2) 1.7 3.8 2.5 1.7 1.8 1.8% 1.3%
Management fee waiver -- -- -- -- -- -- (0.3)
Excise taxes -- -- 0.4 -- 0.1 -- --
Total expenses 3.8% 6.1% 5.0% 3.6% 3.9% 3.8% 2.9%


(1) Ratio reflects total management fee before waiver, if any.

(2) Distributions on the Fund’s MRP Shares are treated as an operating expense under GAAP and are included in the calculation of net investment income (loss). See Note 2 — Significant Accounting Policies.

Source: KMF Q3 2017 Quarterly Report (PDF)

 

Copyright © 2017 - KA Fund Advisors, LLC - All rights reserved.