ASCAA Fees and Costs — SA Wellington Capital Appreciation Portfolio, Class 1
Data updated: 2026-04-27
The net expense ratio is 0.73%: a 0.70% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $778K in broker commissions, 0.0491% of average net assets, and portfolio turnover was 89%.
ASCAA Fees and Expenses
Annual operating expenses and sales charges of ASCAA. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.73% |
| Fee waiver | — |
| Net expense ratio | 0.73% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
ASCAA Costs Over Time
On $10,000 invested in ASCAA, assuming 5% a year before costs, total costs come to $489 over 5 years, cutting the return by 0.82% 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 0.73%) | $77 | $240 | $417 |
| Trading costs (broker commissions) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $82 | $268 | $489 |
| Value after costs | $10,418 | $11,308 | $12,273 |
| Impact on return, per year | 0.82% | 0.82% | 0.82% |
ASCAA Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0491%
- Total broker commissions: $778K
- Bought from dealers (principal trades, not a cost): $8.0B
- Portfolio turnover (prospectus): 89%
- Securities lending: none during the year
ASCAA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $194K | 30.30% |
| Morgan Stanley & Co. LLC | $95K | 14.87% |
| UBS Securities LLC | $63K | 9.90% |
| Cowen and Company, LLC | $58K | 9.03% |
| Goldman Sachs & Co. LLC | $52K | 8.13% |
| J.P. Morgan Securities LLC | $51K | 8.03% |
| Jefferies LLC | $47K | 7.30% |
| Credit Suisse Securities (USA) LLC | $28K | 4.44% |
| Citigroup Global Markets Inc. | $26K | 4.12% |
| Barclays Capital Inc. | $25K | 3.89% |
ASCAA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Deutsche Bank Securities Inc. | $1.7B | 21.72% |
| Natwest Markets Securities Inc. | $1.7B | 21.42% |
| BofA Securities, Inc. | $1.7B | 21.38% |
| Barclays Capital Inc. | $1.5B | 18.20% |
| BNP Paribas Securities Corp. | $1.3B | 16.70% |
| Goldman Sachs & Co. LLC | $21.5M | 0.27% |
| Morgan Stanley & Co. LLC | $13.8M | 0.17% |
| State Street Bank and Trust Company | $6.9M | 0.09% |
| J.P. Morgan Securities LLC | $4.3M | 0.05% |
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.