AJERX Fees and Costs — Aberdeen Japanese Equities Fund, Class R
Data updated: 2020-01-13
The net expense ratio is 1.50%: a 0.65% management fee, a 0.50% 12b-1 fee plus 9.05% other expenses, less a 8.70% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $402 in broker commissions, 0.0273% of average net assets, and portfolio turnover was 30%.
AJERX Fees and Expenses
Annual operating expenses and sales charges of AJERX. Prospectus, as of October 31, 2018.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.50% |
| Other expenses | 9.05% |
| Gross expense ratio | 10.20% |
| Fee waiver | −8.70% |
| Net expense ratio | 1.50% |
| 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 | Yes |
AJERX Costs Over Time
On $10,000 invested in AJERX, assuming 5% a year before costs, total costs come to $945 over 5 years, cutting the return by 1.60% 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 1.50%) | $158 | $489 | $843 |
| Trading costs (broker commissions) | $3 | $9 | $15 |
| Lost growth on money paid in costs | $0 | $25 | $87 |
| Total costs | $160 | $522 | $945 |
| Value after costs | $10,340 | $11,054 | $11,818 |
| Impact on return, per year | 1.60% | 1.60% | 1.60% |
AJERX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0273%
- Total broker commissions: $402
- Bought from dealers (principal trades, not a cost): $587K
- Portfolio turnover (prospectus): 30%
- Securities on loan, average value: $35K
- Net income from securities lending: $11 (0.001% of average net assets)
AJERX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Macquarie Capital (USA) Inc. | $129 | 32.11% |
| Daiwa Capital Markets America Inc. | $58 | 14.33% |
| Mizuho Securities USA LLC | $57 | 14.07% |
| Credit Suisse Securities (USA) LLC | $55 | 13.62% |
| UBS Securities LLC | $35 | 8.68% |
| BofA Securities, Inc. | $25 | 6.11% |
| Instinet, LLC | $21 | 5.23% |
| Credit Agricole Securities (USA) Inc. | $18 | 4.60% |
| SMBC Nikko Securities America, Inc. | $5 | 1.25% |
AJERX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $587K | 100.00% |
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.