C000069269 Fees and Costs — AlphaSimplex Global Alternatives Fund, Class A
Data updated: 2023-05-30
The net expense ratio is 1.50%: a 1.10% management fee, a 0.25% 12b-1 fee plus 0.29% other expenses, less a 0.14% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2022 the fund paid $169K in broker commissions, 0.0646% of average net assets, and portfolio turnover was 124%.
C000069269 Fees and Expenses
Annual operating expenses and sales charges of C000069269. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.29% |
| Gross expense ratio | 1.64% |
| Fee waiver | −0.14% |
| Net expense ratio | 1.50% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000069269 Costs Over Time
On $10,000 invested in C000069269, assuming 5% a year before costs, total costs come to $1,646 over 5 years, cutting the return by 2.86% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.50%) | $148 | $460 | $794 |
| Trading costs (broker commissions) | $6 | $20 | $34 |
| Lost growth on money paid in costs | $29 | $115 | $243 |
| Total costs | $759 | $1,170 | $1,646 |
| Value after costs | $9,741 | $10,406 | $11,117 |
| Impact on return, per year | 7.59% | 3.66% | 2.86% |
C000069269 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0646%
- Total broker commissions: $169K
- Bought from dealers (principal trades, not a cost): $5.1B
- Portfolio turnover (prospectus): 124%
- Securities lending: none during the year
C000069269 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $110K | 64.94% |
| Morgan Stanley & Co. LLC | $48K | 28.10% |
| J.P. Morgan Securities LLC | $7K | 4.37% |
| BofA Securities, Inc. | $4K | 2.59% |
C000069269 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $2.7B | 52.90% |
| State Street Bank and Trust Company | $1.8B | 36.37% |
| Oppenheimer & Co. Inc. | $279.1M | 5.49% |
| TP ICAP Markets Limited | $164.0M | 3.23% |
| Goldman Sachs & Co. LLC | $35.0M | 0.69% |
| Mizuho Securities USA LLC | $26.0M | 0.51% |
| Morgan Stanley & Co. LLC | $15.7M | 0.31% |
| U.S. Bancorp Investments, Inc. | $15.0M | 0.30% |
| RBC Capital Markets, LLC | $10.5M | 0.21% |
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.