ANVLX Fees and Costs — Non-U.S. Intrinsic Value Fund, A Class
Data updated: 2026-07-29
The net expense ratio is 1.43%: a 1.15% management fee, a 0.25% 12b-1 fee plus 0.03% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $440K in broker commissions, 0.0774% of average net assets, and portfolio turnover was 71%.
ANVLX Fees and Expenses
Annual operating expenses and sales charges of ANVLX. Prospectus, as of April 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.03% |
| Gross expense ratio | 1.43% |
| Fee waiver | — |
| Net expense ratio | 1.43% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
ANVLX Costs Over Time
On $10,000 invested in ANVLX, assuming 5% a year before costs, total costs come to $1,614 over 5 years, cutting the return by 2.80% 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 1.43%) | $142 | $439 | $758 |
| Trading costs (broker commissions) | $8 | $24 | $41 |
| Lost growth on money paid in costs | $29 | $114 | $240 |
| Total costs | $753 | $1,152 | $1,614 |
| Value after costs | $9,747 | $10,425 | $11,149 |
| Impact on return, per year | 7.53% | 3.60% | 2.80% |
ANVLX 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): 0.0774%
- Total broker commissions: $440K
- Bought from dealers (principal trades, not a cost): $1.6B
- Portfolio turnover (prospectus): 71%
- Securities lending: none during the year
ANVLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $57K | 17.50% |
| UBS WARBURG | $48K | 14.63% |
| J.P. MORGAN SECURITIES | $47K | 14.49% |
| CITIGROUP CAPITAL MARKETS INC. | $34K | 10.37% |
| JEFFERIES LLC | $33K | 9.96% |
| BARCLAYS CAPITAL | $30K | 9.32% |
| BANK OF AMERICA MERRILL LYNCH | $26K | 7.94% |
| BNP PARIBAS SECURITIES | $18K | 5.51% |
| BERNSTEIN INSTITUTIONAL SERVICES | $18K | 5.49% |
| MACQUARIE SECURITIES | $16K | 4.79% |
ANVLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS LLC | $1.0B | 62.22% |
| GOLDMAN SACHS | $167.7M | 10.31% |
| BANK OF AMERICA MERRILL LYNCH | $126.1M | 7.75% |
| BMO CAPITAL MARKETS | $97.1M | 5.96% |
| MORGAN STANLEY | $86.3M | 5.30% |
| J.P. MORGAN SECURITIES | $59.4M | 3.65% |
| UBS WARBURG | $47.2M | 2.90% |
| CITIGROUP CAPITAL MARKETS INC. | $31.2M | 1.92% |
Non-U.S. Intrinsic Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ANTGX | G Class | 0.03% | none |
| ANVMX | R6 Class | 0.83% | none |
| ANVHX | I Class | 0.98% | none |
| ANTUX | Investor Class | 1.18% | none |
| ANVLX | A Class | 1.43% | 5.75% |
| ANVRX | R Class | 1.68% | 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.