C000116036 Fees and Costs — Fundamental Global Franchise Fund, Class NAV
Data updated: 2025-04-28
The net expense ratio is 0.92%: a 0.80% management fee plus 0.13% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $70K in broker commissions, 0.0269% of average net assets, and portfolio turnover was 17%.
C000116036 Fees and Expenses
Annual operating expenses and sales charges of C000116036. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | — |
| Other expenses | 0.13% |
| Gross expense ratio | 0.93% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.92% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
C000116036 Costs Over Time
On $10,000 invested in C000116036, assuming 5% a year before costs, total costs come to $593 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 0.92%) | $97 | $302 | $523 |
| Trading costs (broker commissions) | $3 | $9 | $15 |
| Lost growth on money paid in costs | $0 | $15 | $54 |
| Total costs | $99 | $326 | $593 |
| Value after costs | $10,401 | $11,251 | $12,170 |
| Impact on return, per year | 0.99% | 0.99% | 0.99% |
C000116036 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0269%
- Total broker commissions: $70K
- Bought from dealers (principal trades, not a cost): $896.2M
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
C000116036 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| National Financial Services LLC | $20K | 30.51% |
| UBS AG | $11K | 16.04% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $8K | 11.63% |
| Royal Bank of Canada | $8K | 11.29% |
| Morgan Stanley & Co. LLC | $5K | 7.08% |
| Sanford C. Bernstein & Co., LLC | $4K | 5.98% |
| Societe Generale SA | $4K | 5.75% |
| Goldman Sachs & Co. LLC | $3K | 4.46% |
| Citigroup Global Markets Holdings Inc. | $3K | 3.97% |
| J.P. Morgan Securities LLC | $2K | 3.28% |
C000116036 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Holdings Inc. | $424.0M | 47.31% |
| UBS AG | $225.9M | 25.21% |
| Mizuho Securities Co., Ltd. | $80.0M | 8.93% |
| Morgan Stanley & Co. LLC | $71.2M | 7.94% |
| J.P. Morgan Securities LLC | $40.7M | 4.54% |
| TD Securities Inc. / Valeurs Mobilieres TD Inc. | $36.6M | 4.08% |
| Barclays Bank PLC | $14.9M | 1.66% |
| Nomura Holdings, Inc. | $3.0M | 0.33% |
| Royal Bank of Canada | $0 | 0.00% |
| National Financial Services LLC | $0 | 0.00% |
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.