AEIAX Fees and Costs — AlphaCentric Energy Income Fund, Class A
Data updated: 2020-08-28
The net expense ratio is 1.74%: a 1.25% management fee, a 0.25% 12b-1 fee plus 0.39% other expenses, less a 0.15% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2020 the fund paid $5K in broker commissions, 0.0418% of average net assets.
AEIAX Fees and Expenses
Annual operating expenses and sales charges of AEIAX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.89% |
| Fee waiver | −0.15% |
| Net expense ratio | 1.74% |
| 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 |
AEIAX Costs Over Time
On $10,000 invested in AEIAX, assuming 5% a year before costs, total costs come to $1,768 over 5 years, cutting the return by 3.09% 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 1.74%) | $172 | $533 | $917 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $29 | $118 | $254 |
| Total costs | $780 | $1,239 | $1,768 |
| Value after costs | $9,720 | $10,338 | $10,995 |
| Impact on return, per year | 7.80% | 3.89% | 3.09% |
AEIAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0418%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $3.8M
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
AEIAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Instinet, LLC | $4K | 76.40% |
| JONES TRADING | $676 | 12.90% |
| CIBC World Markets Corp. | $176 | 3.37% |
| UBS Securities LLC | $150 | 2.85% |
| BTIG LLC | $117 | 2.23% |
| RBC Capital Markets, LLC | $44 | 0.84% |
| Credit Suisse Securities LLC | $30 | 0.58% |
| J.P. Morgan Securities LLC | $24 | 0.46% |
| LIQUIDNET | $11 | 0.20% |
| Kepler Capital Markets, Inc. | $9 | 0.16% |
AEIAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Instinet, LLC | $3.2M | 83.38% |
| JONES TRADING | $315K | 8.21% |
| Credit Suisse Securities LLC | $165K | 4.30% |
| Bank of America Merrill Lynch | $71K | 1.86% |
| Barclays Capital, Inc. | $55K | 1.43% |
| GOLDMAN SACHS | $26K | 0.69% |
| CANTOR FITZGERALD | $5K | 0.13% |
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.