C000008697 Fees and Costs — Access Flex High Yield Fund, Investor Class
Data updated: 2021-03-30
The net expense ratio is 1.78%: a 0.75% management fee plus 1.32% other expenses, less a 0.29% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $444 in broker commissions, 0.0020% of average net assets, and portfolio turnover was 1534%.
C000008697 Fees and Expenses
Annual operating expenses and sales charges of C000008697. Prospectus, as of February 28, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.32% |
| Gross expense ratio | 2.07% |
| Fee waiver | −0.29% |
| Net expense ratio | 1.78% |
| 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 |
C000008697 Costs Over Time
On $10,000 invested in C000008697, assuming 5% a year before costs, total costs come to $1,097 over 5 years, cutting the return by 1.87% 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 1.78%) | $187 | $578 | $995 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $29 | $101 |
| Total costs | $187 | $608 | $1,097 |
| Value after costs | $10,313 | $10,968 | $11,665 |
| Impact on return, per year | 1.87% | 1.87% | 1.87% |
C000008697 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): 0.0020%
- Total broker commissions: $444
- Bought from dealers (principal trades, not a cost): $2.2B
- Portfolio turnover (prospectus): 1534%
- Securities lending: none during the year
C000008697 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $6K | 92.94% |
| RBC (FUTURES - BONDS) | $444 | 7.06% |
C000008697 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| SG AMERICAS SECURITIES, LLC | $805.3M | 36.67% |
| RBC CAPITAL MARKETS LLC REPO | $362.3M | 16.50% |
| HSBC SECURITIES (USA) INC | $332.1M | 15.12% |
| BMO CAPITAL MARKETS CORP. | $255.3M | 11.62% |
| CIBC WORLD MARKETS CORP. | $172.3M | 7.85% |
| UMB FINANCIAL SERVICES, INC. | $104.2M | 4.74% |
| CREDIT AGRICOLE SECURITIES (USA) INC. | $60.4M | 2.75% |
| CREDIT SUISSE SECURITIES (USA) LLC | $46.9M | 2.14% |
| CITIGROUP GLOBAL MARKETS INC. | $34.2M | 1.56% |
| WELLS FARGO SECURITIES, LLC | $23.2M | 1.06% |
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.