C000123798 Fees and Costs — World ex U.S. Core Equity Portfolio, Institutional Class Shares
Data updated: 2026-09-24
The net expense ratio is 0.30%: a 0.25% management fee plus 0.05% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $277K in broker commissions, 0.0065% of average net assets, and portfolio turnover was 8%.
C000123798 Fees and Expenses
Annual operating expenses and sales charges of C000123798. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | — |
| Other expenses | 0.05% |
| Gross expense ratio | 0.30% |
| Fee waiver | — |
| Net expense ratio | 0.30% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
C000123798 Costs Over Time
On $10,000 invested in C000123798, assuming 5% a year before costs, total costs come to $194 over 5 years, cutting the return by 0.32% 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 0.30%) | $32 | $99 | $173 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $5 | $18 |
| Total costs | $32 | $106 | $194 |
| Value after costs | $10,468 | $11,470 | $12,568 |
| Impact on return, per year | 0.32% | 0.32% | 0.32% |
C000123798 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0065%
- Total broker commissions: $277K
- Bought from dealers (principal trades, not a cost): $24.6M
- Portfolio turnover (prospectus): 8%
- Securities on loan, average value: $225.5M
- Net income from securities lending: $3.5M (0.081% of average net assets)
C000123798 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Nomura Securities International, Inc. | $85K | 30.64% |
| Jefferies LLC | $82K | 29.50% |
| Virtu Americas LLC | $67K | 24.29% |
| UBS Securities LLC | $30K | 10.85% |
| Citigroup Global Markets Inc. | $7K | 2.41% |
| Loop Capital Markets LLC | $4K | 1.27% |
| Goldman Sachs & Co. LLC | $2K | 0.85% |
| J.P. Morgan Securities LLC | $479 | 0.17% |
| BofA Securities, Inc. | $71 | 0.03% |
C000123798 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $286K | 29.96% |
| Macquarie Capital (USA) Inc. | $254K | 26.62% |
| State Street Bank and Trust Company | $108K | 11.36% |
| Penson Worldwide, Inc. | $75K | 7.84% |
| ABN AMRO Securities (USA) LLC | $58K | 6.11% |
| Argonaut Securities Pty Limited | $47K | 4.91% |
| J.P. Morgan Securities LLC | $44K | 4.62% |
| Morgan Stanley & Co. LLC | $33K | 3.43% |
| Euroz Hartleys Securities Pty Ltd | $29K | 3.05% |
| BofA Securities, Inc. | $20K | 2.09% |
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.