C000031618 Fees and Costs — First Investors Tax Exempt Opportunities Fund, Class A
Data updated: 2019-11-27
The net expense ratio is 0.96%: a 0.55% management fee, a 0.25% 12b-1 fee plus 0.16% 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%. Portfolio turnover was 135%.
C000031618 Fees and Expenses
Annual operating expenses and sales charges of C000031618. Prospectus, as of December 31, 2018.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.16% |
| Gross expense ratio | 0.96% |
| Fee waiver | — |
| Net expense ratio | 0.96% |
| 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 |
C000031618 Costs Over Time
On $10,000 invested in C000031618, assuming 5% a year before costs, total costs come to $1,087 over 5 years, cutting the return by 1.85% 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 0.96%) | $97 | $302 | $524 |
| Lost growth on money paid in costs | $20 | $78 | $163 |
| Total costs | $617 | $780 | $1,087 |
| Value after costs | $9,883 | $10,796 | $11,675 |
| Impact on return, per year | 6.17% | 2.41% | 1.85% |
C000031618 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $881.2M
- Portfolio turnover (prospectus): 135%
- Securities lending: none during the year
C000031618 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets | $150.6M | 23.78% |
| Merrill Lynch Pierce Fenner & Smith | $124.1M | 19.60% |
| Jefferies LLC | $82.3M | 13.00% |
| Morgan Stanley | $58.0M | 9.16% |
| Wells Fargo Securities, LLC | $52.6M | 8.30% |
| Goldman, Sachs & Co. | $34.6M | 5.47% |
| JP Morgan Securities LLC | $34.0M | 5.37% |
| US Bank | $34.0M | 5.37% |
| Piper Jaffray & Co. | $33.3M | 5.25% |
| Siebert Cisneros Schank & Co. | $29.7M | 4.69% |
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.