C000083504 Fees and Costs — Tax-Aware Overlay N Portfolio, Class 1
Data updated: 2024-02-27
The net expense ratio is 0.93% (1.00% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $30K in broker commissions, 0.0138% of average net assets, and portfolio turnover was 14%.
C000083504 Fees and Expenses
Annual operating expenses and sales charges of C000083504. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.32% |
| Gross expense ratio | 1.00% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.93% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 | No |
C000083504 Costs Over Time
On $10,000 invested in C000083504, assuming 5% a year before costs, total costs come to $591 over 5 years, cutting the return by 0.99% 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 0.93%) | $98 | $305 | $529 |
| Trading costs (broker commissions) | $1 | $5 | $8 |
| Lost growth on money paid in costs | $0 | $15 | $54 |
| Total costs | $99 | $325 | $591 |
| Value after costs | $10,401 | $11,252 | $12,172 |
| Impact on return, per year | 0.99% | 0.99% | 0.99% |
C000083504 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0138%
- Total broker commissions: $30K
- Bought from dealers (principal trades, not a cost): $823.3M
- Portfolio turnover (prospectus): 14%
- Securities lending: none during the year
C000083504 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $28K | 94.73% |
| RBC Capital Markets, LLC | $633 | 2.13% |
| J.P. Morgan Securities LLC | $549 | 1.85% |
| UBS Securities LLC | $385 | 1.30% |
C000083504 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $305.9M | 38.57% |
| State Street Bank and Trust Company | $300.9M | 37.93% |
| Morgan Stanley & Co. LLC | $87.3M | 11.01% |
| Guardian Capital LP | $19.9M | 2.51% |
| J.P. Morgan Securities LLC | $16.4M | 2.07% |
| Goldman Sachs & Co. LLC | $16.2M | 2.04% |
| UBS Securities LLC | $15.1M | 1.90% |
| BNY Mellon Capital Markets, LLC | $11.6M | 1.46% |
| National Financial Services LLC | $11.5M | 1.45% |
| BofA Securities, Inc. | $8.4M | 1.06% |
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.