C000109475 Fees and Costs — James Alpha Global Real Estate Investments Portfolio, Class C
Data updated: 2021-04-20
The net expense ratio is 2.36%: a 0.90% management fee, a 1.00% 12b-1 fee plus 0.45% other expenses. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2020 the fund paid $2.3M in broker commissions, 0.2664% of average net assets, and portfolio turnover was 187%.
C000109475 Fees and Expenses
Annual operating expenses and sales charges of C000109475. Prospectus, as of December 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.45% |
| Gross expense ratio | 2.36% |
| Fee waiver | — |
| Net expense ratio | 2.36% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000109475 Costs Over Time
On $10,000 invested in C000109475, assuming 5% a year before costs, total costs come to $1,590 over 5 years, cutting the return by 2.76% 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 | $102 | $0 | $0 |
| Fund expenses (net expense ratio 2.36%) | $248 | $760 | $1,296 |
| Trading costs (broker commissions) | $28 | $86 | $146 |
| Lost growth on money paid in costs | $0 | $42 | $148 |
| Total costs | $378 | $888 | $1,590 |
| Value after costs | $10,122 | $10,688 | $11,173 |
| Impact on return, per year | 3.78% | 2.76% | 2.76% |
C000109475 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.2664%
- Total broker commissions: $2.3M
- Bought from dealers (principal trades, not a cost): $295.5M
- Portfolio turnover (prospectus): 187%
- Securities lending: none during the year
C000109475 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMorgan Chase | $534K | 28.17% |
| Citigroup | $384K | 20.25% |
| Morgan Stanley Smith Barney | $326K | 17.18% |
| Goldman Sachs | $148K | 7.83% |
| Knight Capital Group | $130K | 6.84% |
| UBS AG | $107K | 5.64% |
| Raymond James | $72K | 3.82% |
| Kempen & Co | $66K | 3.46% |
| Evercore Partners | $65K | 3.45% |
| MKM Partners LLC | $64K | 3.36% |
C000109475 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley Smith Barney | $79.8M | 32.65% |
| Bank of America Merrill Lynch | $41.2M | 16.87% |
| Goldman Sachs | $33.5M | 13.69% |
| JPMorgan Chase | $33.0M | 13.49% |
| UBS AG | $14.4M | 5.88% |
| KeyBank | $13.0M | 5.33% |
| Raymond James | $11.6M | 4.76% |
| Wells Fargo Bank | $10.5M | 4.30% |
| Citigroup | $5.6M | 2.29% |
| BTIG LLC | $1.8M | 0.74% |
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.