ABYAX Fees and Costs — Abbey Capital Futures Strategy Fund, Class A
Data updated: 2026-07-28
The net expense ratio is 2.04%: a 1.77% management fee, a 0.25% 12b-1 fee plus 0.08% other expenses, less a 0.06% fee waiver. This share class carries a maximum front-end sales load of 5.75%. Portfolio turnover was 0%.
ABYAX Fees and Expenses
Annual operating expenses and sales charges of ABYAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.77% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.08% |
| Gross expense ratio | 2.10% |
| Fee waiver | −0.06% |
| Net expense ratio | 2.04% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ABYAX Costs Over Time
On $10,000 invested in ABYAX, assuming 5% a year before costs, total costs come to $1,912 over 5 years, cutting the return by 3.35% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 2.04%) | $202 | $623 | $1,069 |
| Lost growth on money paid in costs | $29 | $122 | $268 |
| Total costs | $806 | $1,320 | $1,912 |
| Value after costs | $9,694 | $10,256 | $10,851 |
| Impact on return, per year | 8.06% | 4.15% | 3.35% |
ABYAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $3.4B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
ABYAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS LLC | $3.4B | 100.00% |
Abbey Capital Futures Strategy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ABYIX | Class I | 1.79% | none |
| ABYAX | Class A | 2.04% | 5.75% |
| ABYCX | Class C | 2.79% | none |
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.