C000023931 Fees and Costs — Asset Allocation Fund, Class 3
Data updated: 2026-08-27
The net expense ratio is 0.47%: a 0.26% management fee, a 0.18% 12b-1 fee plus 0.03% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.2M in broker commissions, 0.0081% of average net assets, and portfolio turnover was 115%.
C000023931 Fees and Expenses
Annual operating expenses and sales charges of C000023931. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.26% |
| 12b-1 fee | 0.18% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.47% |
| Fee waiver | — |
| Net expense ratio | 0.47% |
| 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 |
C000023931 Costs Over Time
On $10,000 invested in C000023931, assuming 5% a year before costs, total costs come to $302 over 5 years, cutting the return by 0.50% 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 0.47%) | $49 | $155 | $270 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $50 | $165 | $302 |
| Value after costs | $10,450 | $11,411 | $12,461 |
| Impact on return, per year | 0.50% | 0.50% | 0.50% |
C000023931 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0081%
- Total broker commissions: $2.2M
- Bought from dealers (principal trades, not a cost): $48.6B
- Portfolio turnover (prospectus): 115%
- Securities on loan, average value: $46.9M
- Net income from securities lending: $291K (0.001% of average net assets)
C000023931 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $313K | 19.29% |
| Goldman Sachs & Co. LLC | $296K | 18.25% |
| Bank of America, N.A. | $238K | 14.69% |
| Jefferies & Company Inc. | $154K | 9.49% |
| Citigroup Global Markets Inc. | $147K | 9.04% |
| J.P. Morgan Securities LLC | $121K | 7.46% |
| UBS AG | $113K | 6.94% |
| RBC Capital Markets LLC | $88K | 5.43% |
| Barclays Bank PLC | $78K | 4.84% |
| Stephens Inc. | $74K | 4.58% |
C000023931 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Bank of America, N.A. | $13.4B | 28.86% |
| Morgan Stanley & Co. LLC | $5.8B | 12.45% |
| Barclays Bank PLC | $4.6B | 10.03% |
| Citigroup Global Markets Inc. | $4.5B | 9.63% |
| J.P. Morgan Securities LLC | $3.9B | 8.42% |
| Goldman Sachs & Co. LLC | $3.8B | 8.24% |
| Deutsche Bank A.G. | $3.5B | 7.58% |
| Wells Fargo Securities, LLC | $3.4B | 7.29% |
| BNP Paribas | $2.6B | 5.58% |
| Mizuho Bank, Ltd. | $892.0M | 1.93% |
Asset Allocation Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000023929 | Class 1 | 0.29% | — |
| C000023931 | Class 3 | 0.47% | — |
| C000023930 | Class 2 | 0.54% | — |
| C000176244 | Class 1A | 0.54% | — |
| C000121512 | Class 4 | 0.79% | — |
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.