C000004974 Fees and Costs — PF Emerging Markets Fund, Class P
Data updated: 2023-06-07
The net expense ratio is 0.95%: a 0.80% management fee plus 0.37% other expenses, less a 0.22% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $85K in broker commissions, 0.1613% of average net assets, and portfolio turnover was 42%.
C000004974 Fees and Expenses
Annual operating expenses and sales charges of C000004974. Prospectus, as of March 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | — |
| Other expenses | 0.37% |
| Gross expense ratio | 1.17% |
| Fee waiver | −0.22% |
| Net expense ratio | 0.95% |
| 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 | Yes |
C000004974 Costs Over Time
On $10,000 invested in C000004974, assuming 5% a year before costs, total costs come to $694 over 5 years, cutting the return by 1.17% 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 0.95%) | $100 | $311 | $538 |
| Trading costs (broker commissions) | $17 | $53 | $91 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $117 | $382 | $694 |
| Value after costs | $10,383 | $11,195 | $12,069 |
| Impact on return, per year | 1.17% | 1.17% | 1.17% |
C000004974 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1613%
- Total broker commissions: $85K
- Bought from dealers (principal trades, not a cost): $2.2M
- Portfolio turnover (prospectus): 42%
- Securities lending: none during the year
C000004974 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $31K | 43.48% |
| Kotak Securities Limited | $7K | 9.39% |
| MORGAN STANLEY & CO. LLC | $5K | 7.68% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $5K | 7.29% |
| HSBC SECURITIES (USA) INC. | $5K | 6.91% |
| JEFFERIES LLC | $5K | 6.86% |
| SANFORD C. BERNSTEIN & CO., LLC | $5K | 6.80% |
| CitiGroup Global Markets Inc. | $4K | 6.35% |
| GOLDMAN SACHS & CO. LLC | $2K | 2.68% |
| UBS Securities LLC | $2K | 2.58% |
C000004974 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Xtellus Capital Partners, Inc. | $1.9M | 85.13% |
| Goldman Sachs & Co. LLC | $227K | 10.41% |
| ITI CAPITAL LIMITED | $57K | 2.63% |
| EUROCLEAR BANK | $40K | 1.84% |
| SCOTIA CAPITAL (USA), INC. | $1 | 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.