C000021988 Fees and Costs — SA Fidelity Institutional AM Real Estate Portfolio, Class 2
Data updated: 2026-09-28
The net expense ratio is 1.00%: a 0.77% management fee, a 0.15% 12b-1 fee plus 0.08% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $57K in broker commissions, 0.0228% of average net assets, and portfolio turnover was 45%.
C000021988 Fees and Expenses
Annual operating expenses and sales charges of C000021988. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.77% |
| 12b-1 fee | 0.15% |
| Other expenses | 0.08% |
| Gross expense ratio | 1.00% |
| Fee waiver | — |
| Net expense ratio | 1.00% |
| 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 |
C000021988 Costs Over Time
On $10,000 invested in C000021988, assuming 5% a year before costs, total costs come to $639 over 5 years, cutting the return by 1.07% 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 1.00%) | $105 | $328 | $568 |
| Trading costs (broker commissions) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $107 | $352 | $639 |
| Value after costs | $10,393 | $11,225 | $12,123 |
| Impact on return, per year | 1.07% | 1.07% | 1.07% |
C000021988 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0228%
- Total broker commissions: $57K
- Bought from dealers (principal trades, not a cost): $699K
- Portfolio turnover (prospectus): 45%
- Securities lending: none during the year
C000021988 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| National Financial Services LLC | $9K | 19.53% |
| Jefferies LLC | $8K | 18.51% |
| Goldman Sachs & Co. LLC | $6K | 13.72% |
| RBC Capital Markets, LLC | $4K | 9.10% |
| BofA Securities, Inc. | $3K | 7.98% |
| Morgan Stanley & Co. LLC | $3K | 7.52% |
| BNY Capital Markets, LLC | $3K | 7.38% |
| Citigroup Global Markets Inc. | $3K | 5.91% |
| J.P. Morgan Securities LLC | $2K | 5.70% |
| UBS Securities LLC | $2K | 4.65% |
C000021988 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $352K | 50.38% |
| Morgan Stanley & Co. LLC | $240K | 34.42% |
| BofA Securities, Inc. | $106K | 15.19% |
SA Fidelity Institutional AM Real Estate Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000021987 | Class 1 | 0.85% | — |
| C000021988 | Class 2 | 1.00% | — |
| C000021989 | Class 3 | 1.10% | — |
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.