C000121196 Fees and Costs — JPMorgan Systematic Alpha Fund, Class I
Data updated: 2020-06-26
The net expense ratio is 1.00% (1.23% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $1.4M in broker commissions, 0.3376% of average net assets, and portfolio turnover was 169%.
C000121196 Fees and Expenses
Annual operating expenses and sales charges of C000121196. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.54% |
| Gross expense ratio | 1.23% |
| Fee waiver | −0.23% |
| Net expense ratio | 1.00% |
| 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 |
C000121196 Costs Over Time
On $10,000 invested in C000121196, assuming 5% a year before costs, total costs come to $831 over 5 years, cutting the return by 1.40% 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 1.00%) | $105 | $326 | $564 |
| Trading costs (broker commissions) | $35 | $110 | $190 |
| Lost growth on money paid in costs | $0 | $22 | $76 |
| Total costs | $140 | $458 | $831 |
| Value after costs | $10,360 | $11,118 | $11,932 |
| Impact on return, per year | 1.40% | 1.40% | 1.40% |
C000121196 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.3376%
- Total broker commissions: $1.4M
- Bought from dealers (principal trades, not a cost): $45.2M
- Portfolio turnover (prospectus): 169%
- Securities lending: none during the year
C000121196 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $613K | 44.26% |
| BofA Securities, Inc. | $596K | 43.03% |
| Goldman Sachs & Co. LLC | $71K | 5.10% |
| Citigroup Global Markets Inc. | $40K | 2.88% |
| RBC Capital Markets, LLC | $25K | 1.82% |
| Morgan Stanley & Co. LLC | $16K | 1.17% |
| HSBC Securities (USA) Inc. | $9K | 0.66% |
| Credit Suisse Securities (USA) LLC | $6K | 0.42% |
| Nomura Securities International, Inc. | $5K | 0.34% |
| BNP Paribas Securities Corp. | $5K | 0.33% |
C000121196 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Daiwa Capital Markets America Inc. | $7.1M | 17.41% |
| Citigroup Global Markets Inc. | $5.7M | 13.77% |
| Morgan Stanley & Co. LLC | $4.4M | 10.60% |
| Barclays Capital Inc. | $4.1M | 9.93% |
| Goldman Sachs & Co. LLC | $4.0M | 9.65% |
| Credit Suisse Securities (USA) LLC | $3.7M | 8.90% |
| Nomura Securities International, Inc. | $3.4M | 8.36% |
| BofA Securities, Inc. | $3.1M | 7.54% |
| Deutsche Bank Securities Inc. | $3.0M | 7.41% |
| MUFG Securities Americas Inc. | $2.6M | 6.44% |
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.