ACIQX Fees and Costs — International Core Equity Fund, A Class
Data updated: 2020-02-25
The net expense ratio is 1.41%: a 1.14% management fee, a 0.25% 12b-1 fee plus 0.01% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2019 the fund paid $13K in broker commissions, 0.0479% of average net assets, and portfolio turnover was 93%.
ACIQX Fees and Expenses
Annual operating expenses and sales charges of ACIQX. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.14% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.01% |
| Gross expense ratio | 1.41% |
| Fee waiver | — |
| Net expense ratio | 1.41% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
ACIQX Costs Over Time
On $10,000 invested in ACIQX, assuming 5% a year before costs, total costs come to $1,586 over 5 years, cutting the return by 2.75% 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 1.41%) | $140 | $433 | $748 |
| Trading costs (broker commissions) | $5 | $15 | $25 |
| Lost growth on money paid in costs | $29 | $113 | $237 |
| Total costs | $748 | $1,136 | $1,586 |
| Value after costs | $9,752 | $10,440 | $11,177 |
| Impact on return, per year | 7.48% | 3.55% | 2.75% |
ACIQX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0479%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): $49.8M
- Portfolio turnover (prospectus): 93%
- Securities on loan, average value: $250K
- Net income from securities lending: $4K (0.013% of average net assets)
ACIQX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $3K | 20.81% |
| Sanford C. Bernstein | $2K | 18.24% |
| Bank of America Merrill Lynch | $2K | 17.41% |
| Citigroup Capital Markets Inc | $2K | 15.94% |
| Barclays Capital | $1K | 8.58% |
| UBS Warburg | $1K | 8.01% |
| J.P. Morgan Securities | $781 | 6.13% |
| Macquarie Securities | $220 | 1.73% |
| Credit Suisse First Boston Corp | $203 | 1.59% |
| Jefferies LLC | $200 | 1.57% |
ACIQX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO Capital Markets | $25.4M | 50.90% |
| Credit Suisse First Boston Corp | $5.9M | 11.76% |
| Bank of America Merrill Lynch | $5.1M | 10.19% |
| Goldman Sachs | $4.1M | 8.19% |
| Morgan Stanley | $2.7M | 5.48% |
| UBS Warburg | $2.5M | 5.11% |
| J.P. Morgan Securities | $2.2M | 4.33% |
| State Street Global Markets | $2.0M | 4.05% |
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.