AVBIX Fees and Costs — VP Balanced Fund, Class I
Data updated: 2024-05-29
The net expense ratio is 0.77%: a 0.89% management fee plus 0.01% other expenses, less a 0.13% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $27K in broker commissions, 0.0079% of average net assets, and portfolio turnover was 92%.
AVBIX Fees and Expenses
Annual operating expenses and sales charges of AVBIX. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.89% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.90% |
| Fee waiver | −0.13% |
| Net expense ratio | 0.77% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
AVBIX Costs Over Time
On $10,000 invested in AVBIX, 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 0.77%) | $81 | $253 | $440 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $82 | $268 | $489 |
| Value after costs | $10,418 | $11,308 | $12,274 |
| Impact on return, per year | 0.82% | 0.82% | 0.82% |
AVBIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0079%
- Total broker commissions: $27K
- Bought from dealers (principal trades, not a cost): $418.2M
- Portfolio turnover (prospectus): 92%
- Securities lending: none during the year
AVBIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Bank of America Merrill Lynch | $13K | 55.58% |
| Sanford C. Bernstein | $2K | 9.16% |
| Citigroup Capital Markets Inc | $1K | 6.10% |
| Barclays Capital | $1K | 5.10% |
| Keybanc Capital Markets Inc | $1K | 5.02% |
| Stiffel Nicholas Capital Markets | $968 | 4.22% |
| Morgan Stanley | $953 | 4.15% |
| Evercore ISI Investment Group | $918 | 4.00% |
| UBS Warburg | $807 | 3.51% |
| J.P. Morgan Securities | $726 | 3.16% |
AVBIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital | $66.1M | 19.79% |
| Citigroup Capital Markets Inc | $54.1M | 16.20% |
| BMO Capital Markets | $51.2M | 15.34% |
| Bank of America Merrill Lynch | $42.3M | 12.67% |
| J.P. Morgan Securities | $27.4M | 8.20% |
| Morgan Stanley | $22.9M | 6.86% |
| Goldman Sachs | $20.3M | 6.07% |
| BNP Paribas Securities | $18.8M | 5.62% |
| Wells Fargo Securities | $17.5M | 5.24% |
| Deutsche Bank | $13.4M | 4.01% |
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.