C000031596 Fees and Costs — First Investors Tax Exempt Income Fund, Class A
Data updated: 2019-11-27
The net expense ratio is 0.97%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.12% other expenses. This share class carries a maximum front-end sales load of 4.00% and a deferred sales charge of up to 1.00%. In fiscal 2018 the fund paid $1K in broker commissions, 0.0002% of average net assets, and portfolio turnover was 88%.
C000031596 Fees and Expenses
Annual operating expenses and sales charges of C000031596. Prospectus, as of December 31, 2018.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.97% |
| Fee waiver | — |
| Net expense ratio | 0.97% |
| Sales charges | |
|---|---|
| Max front load | 4.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000031596 Costs Over Time
On $10,000 invested in C000031596, assuming 5% a year before costs, total costs come to $1,093 over 5 years, cutting the return by 1.86% 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 |
| Sales charges | $500 | $400 | $400 |
| Fund expenses (net expense ratio 0.97%) | $98 | $305 | $529 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $20 | $78 | $164 |
| Total costs | $618 | $783 | $1,093 |
| Value after costs | $9,882 | $10,793 | $11,669 |
| Impact on return, per year | 6.18% | 2.42% | 1.86% |
C000031596 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2018.
- Explicit cost rate (commissions ÷ average net assets): 0.0002%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 88%
- Securities lending: none during the year
C000031596 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $1K | 100.00% |
C000031596 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets | $283.2M | 29.75% |
| Merrill Lynch Pierce Fenner & Smith | $139.0M | 14.60% |
| Barclays Capital Inc. | $84.9M | 8.91% |
| Goldman, Sachs & Co. | $79.3M | 8.32% |
| Morgan Stanley | $70.6M | 7.42% |
| Siebert Cisneros Schank & Co. | $70.0M | 7.35% |
| JP Morgan Securities, Inc. | $62.0M | 6.51% |
| US Bank | $60.0M | 6.30% |
| Wells Fargo Securities, LLC | $53.4M | 5.61% |
| Piper Jaffray & Co. | $49.7M | 5.22% |
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.