C000121506 Fees and Costs — Global Small Capitalization Fund, Class 4
Data updated: 2026-08-27
The net expense ratio is 1.15%: a 0.65% management fee, a 0.25% 12b-1 fee plus 0.30% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.8M in broker commissions, 0.0616% of average net assets, and portfolio turnover was 51%.
C000121506 Fees and Expenses
Annual operating expenses and sales charges of C000121506. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.20% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.15% |
| 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 | No |
C000121506 Costs Over Time
On $10,000 invested in C000121506, assuming 5% a year before costs, total costs come to $755 over 5 years, cutting the return by 1.27% 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 1.15%) | $121 | $376 | $650 |
| Trading costs (broker commissions) | $6 | $20 | $35 |
| Lost growth on money paid in costs | $0 | $20 | $69 |
| Total costs | $127 | $416 | $755 |
| Value after costs | $10,373 | $11,161 | $12,008 |
| Impact on return, per year | 1.27% | 1.27% | 1.27% |
C000121506 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0616%
- Total broker commissions: $1.8M
- Bought from dealers (principal trades, not a cost): $135.0M
- Portfolio turnover (prospectus): 51%
- Securities on loan, average value: $31.8M
- Net income from securities lending: $516K (0.018% of average net assets)
C000121506 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies & Company Inc. | $228K | 21.57% |
| Morgan Stanley & Co. LLC | $143K | 13.56% |
| J.P. Morgan Securities LLC | $132K | 12.54% |
| Citigroup Global Markets Inc. | $121K | 11.47% |
| UBS AG | $105K | 9.94% |
| Goldman Sachs & Co. LLC | $95K | 9.02% |
| Bank of America, N.A. | $73K | 6.88% |
| CLSA B.V. | $60K | 5.70% |
| Liquidnet Holdings, Inc. | $51K | 4.79% |
| TD Securities (USA) | $48K | 4.54% |
C000121506 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets LLC | $45.3M | 35.79% |
| Morgan Stanley & Co. LLC | $19.2M | 15.20% |
| Bank of America, N.A. | $17.7M | 13.96% |
| J.P. Morgan Securities LLC | $15.6M | 12.32% |
| Jefferies & Company Inc. | $7.5M | 5.93% |
| Carnegie Holdings Limited | $6.7M | 5.34% |
| UBS AG | $6.0M | 4.74% |
| Goldman Sachs & Co. LLC | $4.4M | 3.51% |
| Kotak Securities Limited | $2.0M | 1.61% |
| IIFL Capital Services Limited | $2.0M | 1.61% |
Global Small Capitalization Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000023914 | Class 1 | 0.65% | — |
| C000023915 | Class 2 | 0.90% | — |
| C000176238 | Class 1A | 0.90% | — |
| C000121506 | Class 4 | 1.15% | — |
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.