ABMAX Fees and Costs — American Beacon Mid-Cap Value Fund, A Class
Data updated: 2022-09-27
The net expense ratio is 1.26%: a 0.83% management fee, a 0.25% 12b-1 fee plus 0.37% other expenses, less a 0.19% fee waiver. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 0.50%. In fiscal 2021 the fund paid $196K in broker commissions, 0.0876% of average net assets, and portfolio turnover was 30%.
ABMAX Fees and Expenses
Annual operating expenses and sales charges of ABMAX. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.83% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.37% |
| Gross expense ratio | 1.45% |
| Fee waiver | −0.19% |
| Net expense ratio | 1.26% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.50% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
ABMAX Costs Over Time
On $10,000 invested in ABMAX, assuming 5% a year before costs, total costs come to $1,523 over 5 years, cutting the return by 2.63% 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 | $624 | $575 | $575 |
| Fund expenses (net expense ratio 1.26%) | $125 | $388 | $670 |
| Trading costs (broker commissions) | $9 | $27 | $47 |
| Lost growth on money paid in costs | $29 | $111 | $231 |
| Total costs | $786 | $1,101 | $1,523 |
| Value after costs | $9,714 | $10,475 | $11,240 |
| Impact on return, per year | 7.86% | 3.44% | 2.63% |
ABMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0876%
- Total broker commissions: $196K
- Bought from dealers (principal trades, not a cost): $551.0M
- Portfolio turnover (prospectus): 30%
- Securities on loan, average value: $2.8M
- Net income from securities lending: $8K (0.003% of average net assets)
ABMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Sanford C. Bernstein & Co., LLC | $22K | 16.20% |
| BofA Securities, Inc. | $22K | 15.98% |
| Broadcort Capital Corp. | $19K | 14.03% |
| Virtu Americas LLC | $15K | 11.04% |
| Russell Investments Limited | $13K | 9.95% |
| J.P. Morgan Securities LLC | $12K | 8.70% |
| Goldman Sachs & Co. LLC | $11K | 8.19% |
| Pershing LLC | $9K | 6.45% |
| Cantor Fitzgerald & Co. | $7K | 5.36% |
| Stifel, Nicolaus & Company, Incorporated | $6K | 4.09% |
ABMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $548.0M | 99.46% |
| Barclays Capital Inc. | $1.6M | 0.30% |
| Citigroup Global Markets Inc. | $1.2M | 0.21% |
| J.P. Morgan Securities LLC | $139K | 0.03% |
| Broadcort Capital Corp. | $19K | 0.00% |
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.