C000120414 Fees and Costs — PF Currency Strategies Fund, Class P
Data updated: 2020-02-25
The net expense ratio is 0.92%. There are no sales loads or redemption fees. Portfolio turnover was 97%.
C000120414 Fees and Expenses
Annual operating expenses and sales charges of C000120414. Prospectus, as of March 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 0.22% |
| Gross expense ratio | 0.92% |
| Fee waiver | — |
| Net expense ratio | 0.92% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000120414 Costs Over Time
On $10,000 invested in C000120414, assuming 5% a year before costs, total costs come to $576 over 5 years, cutting the return by 0.97% 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 | $524 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $97 | $317 | $576 |
| Value after costs | $10,403 | $11,260 | $12,186 |
| Impact on return, per year | 0.97% | 0.97% | 0.97% |
C000120414 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $85.2M
- Portfolio turnover (prospectus): 97%
- Securities lending: none during the year
C000120414 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $38.0M | 44.65% |
| GOLDMAN SACHS & CO. LLC | $9.4M | 11.10% |
| RBC CAPITAL MARKETS LLC | $9.1M | 10.76% |
| Merrill Lynch Professional Clearing Corp. | $6.4M | 7.57% |
| HSBC SECURITIES (USA), INC. | $6.0M | 7.00% |
| BARCLAYS CAPITAL, INC. | $4.8M | 5.61% |
| THE ROYAL BANK OF SCOTLAND INTERNATIONAL LIMITED | $4.1M | 4.82% |
| TD SECURITIES (USA) LLC | $3.8M | 4.42% |
| DEUTSCHE BANK SECURITIES, INC. | $3.1M | 3.62% |
| CitiGroup Global Markets Inc. | $381K | 0.45% |
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.