C000126135 Fees and Costs — First Investors Tax Exempt New York Fund, Institutional Class
Data updated: 2019-11-27
The net expense ratio is 0.62%: a 0.50% management fee plus 0.12% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 47%.
C000126135 Fees and Expenses
Annual operating expenses and sales charges of C000126135. Prospectus, as of December 31, 2018.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.62% |
| Fee waiver | — |
| Net expense ratio | 0.62% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000126135 Costs Over Time
On $10,000 invested in C000126135, assuming 5% a year before costs, total costs come to $391 over 5 years, cutting the return by 0.65% 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 0.62%) | $65 | $204 | $355 |
| Lost growth on money paid in costs | $0 | $10 | $36 |
| Total costs | $65 | $214 | $391 |
| Value after costs | $10,435 | $11,362 | $12,372 |
| Impact on return, per year | 0.65% | 0.65% | 0.65% |
C000126135 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2018.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $38.4M
- Portfolio turnover (prospectus): 47%
- Securities lending: none during the year
C000126135 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch Pierce Fenner & Smith | $30.7M | 25.63% |
| Citigroup Global Markets | $19.6M | 16.30% |
| Jefferies & Company, Inc. | $16.3M | 13.60% |
| Wells Fargo Securities, LLC | $11.0M | 9.17% |
| Middlegate Securities | $9.6M | 7.98% |
| Goldman, Sachs & Co. | $7.9M | 6.60% |
| BNY Capital Markets | $7.5M | 6.24% |
| Morgan Stanley | $6.9M | 5.75% |
| Raymond James/M. Keegan | $5.2M | 4.37% |
| JP Morgan Securities, Inc. | $5.2M | 4.36% |
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.