AFCWX Fees and Costs — Focused International Growth Fund, R Class
Data updated: 2026-07-29
The net expense ratio is 1.60%: a 1.09% management fee, a 0.50% 12b-1 fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $102K in broker commissions, 0.0736% of average net assets, and portfolio turnover was 90%.
AFCWX Fees and Expenses
Annual operating expenses and sales charges of AFCWX. Prospectus, as of April 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.09% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.01% |
| Gross expense ratio | 1.60% |
| Fee waiver | — |
| Net expense ratio | 1.60% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
AFCWX Costs Over Time
On $10,000 invested in AFCWX, assuming 5% a year before costs, total costs come to $1,033 over 5 years, cutting the return by 1.76% 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 |
| Fund expenses (net expense ratio 1.60%) | $168 | $521 | $896 |
| Trading costs (broker commissions) | $8 | $24 | $41 |
| Lost growth on money paid in costs | $0 | $27 | $95 |
| Total costs | $176 | $572 | $1,033 |
| Value after costs | $10,324 | $11,005 | $11,730 |
| Impact on return, per year | 1.76% | 1.76% | 1.76% |
AFCWX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0736%
- Total broker commissions: $102K
- Bought from dealers (principal trades, not a cost): $771.6M
- Portfolio turnover (prospectus): 90%
- Securities on loan, average value: $6.6M
- Net income from securities lending: $14K (0.010% of average net assets)
AFCWX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $12K | 17.84% |
| J.P. MORGAN SECURITIES | $10K | 14.18% |
| CITIGROUP CAPITAL MARKETS INC. | $8K | 11.54% |
| UBS WARBURG | $8K | 11.07% |
| BNP PARIBAS SECURITIES | $7K | 10.18% |
| JEFFERIES LLC | $6K | 8.01% |
| BANK OF AMERICA MERRILL LYNCH | $6K | 8.00% |
| GOLDMAN SACHS | $5K | 7.41% |
| KEPLER CHEUVREUX N.A. | $4K | 5.92% |
| BARCLAYS CAPITAL | $4K | 5.83% |
AFCWX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS LLC | $552.2M | 71.57% |
| BANK OF AMERICA MERRILL LYNCH | $50.9M | 6.60% |
| BMO CAPITAL MARKETS | $46.0M | 5.97% |
| UBS WARBURG | $35.5M | 4.60% |
| J.P. MORGAN SECURITIES | $29.0M | 3.76% |
| GOLDMAN SACHS | $24.4M | 3.16% |
| MORGAN STANLEY | $22.0M | 2.86% |
| CITIGROUP CAPITAL MARKETS INC. | $11.5M | 1.49% |
Focused International Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AFCGX | G Class | 0.01% | none |
| AFCMX | R6 Class | 0.75% | none |
| AFCSX | I Class | 0.90% | none |
| AFCNX | Investor Class | 1.10% | none |
| AFCLX | A Class | 1.35% | 5.75% |
| AFCWX | R Class | 1.60% | none |
| AFCHX | C Class | 2.10% | 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.