C000031629 Fees and Costs — First Investors California Tax Exempt Fund, Class A
Data updated: 2019-11-27
The net expense ratio is 0.92%: a 0.50% management fee, a 0.25% 12b-1 fee plus 0.17% 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 48%.
C000031629 Fees and Expenses
Annual operating expenses and sales charges of C000031629. Prospectus, as of December 31, 2018.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.17% |
| Gross expense ratio | 0.92% |
| Fee waiver | — |
| Net expense ratio | 0.92% |
| 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 |
C000031629 Costs Over Time
On $10,000 invested in C000031629, assuming 5% a year before costs, total costs come to $1,064 over 5 years, cutting the return by 1.81% 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 0.92%) | $93 | $290 | $503 |
| Lost growth on money paid in costs | $20 | $77 | $161 |
| Total costs | $613 | $767 | $1,064 |
| Value after costs | $9,887 | $10,809 | $11,699 |
| Impact on return, per year | 6.13% | 2.37% | 1.81% |
C000031629 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): $58.2M
- Portfolio turnover (prospectus): 48%
- Securities lending: none during the year
C000031629 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $8.6M | 20.39% |
| Citigroup Global Markets | $7.3M | 17.32% |
| Morgan Stanley | $6.5M | 15.43% |
| Merrill Lynch Pierce Fenner & Smith | $3.5M | 8.33% |
| BNY Capital Markets | $3.2M | 7.61% |
| Piper Jaffray & Co. | $2.9M | 6.84% |
| Wedbush Morgan Securities | $2.8M | 6.76% |
| Siebert Branford Schank & C | $2.5M | 6.05% |
| Raymond James/M. Keegan | $2.5M | 5.90% |
| US Bank | $2.2M | 5.36% |
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.