C000004243 Fees and Costs — U.S. Dynamic Equity Fund, Class S
Data updated: 2021-03-30
The net expense ratio is 1.13%: a 0.80% management fee plus 0.67% other expenses, less a 0.34% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $67K in broker commissions, 0.0427% of average net assets, and portfolio turnover was 126%.
C000004243 Fees and Expenses
Annual operating expenses and sales charges of C000004243. Prospectus, as of February 28, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.67% |
| Gross expense ratio | 1.47% |
| Fee waiver | −0.34% |
| Net expense ratio | 1.13% |
| 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 |
C000004243 Costs Over Time
On $10,000 invested in C000004243, assuming 5% a year before costs, total costs come to $731 over 5 years, cutting the return by 1.23% 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 1.13%) | $119 | $370 | $640 |
| Trading costs (broker commissions) | $4 | $14 | $24 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $123 | $403 | $731 |
| Value after costs | $10,377 | $11,174 | $12,032 |
| Impact on return, per year | 1.23% | 1.23% | 1.23% |
C000004243 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0427%
- Total broker commissions: $67K
- Bought from dealers (principal trades, not a cost): $351.2M
- Portfolio turnover (prospectus): 126%
- Securities on loan, average value: $1.4M
- Net income from securities lending: $7K (0.005% of average net assets)
C000004243 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $23K | 35.28% |
| Virtu Itg LLC | $23K | 34.50% |
| BofA Securities, Inc. | $10K | 14.69% |
| UBS Securities LLC | $6K | 8.67% |
| Pershing LLC | $2K | 3.00% |
| Citigroup Global Markets Inc. | $653 | 0.99% |
| Cantor Fitzgerald & Co. | $617 | 0.94% |
| Liquidnet, Inc. | $528 | 0.80% |
| Credit Suisse Securities (USA) LLC | $463 | 0.70% |
| J.P. Morgan Securities LLC | $290 | 0.44% |
C000004243 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $351.2M | 100.00% |
| Virtu Itg LLC | $20 | 0.00% |
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.