C000126825 Fees and Costs — Nuveen Equity Market Neutral Fund, Class I
Data updated: 2021-07-27
The net expense ratio is 2.71% (2.79% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $1.3M in broker commissions, 0.3100% of average net assets, and portfolio turnover was 190%.
C000126825 Fees and Expenses
Annual operating expenses and sales charges of C000126825. Prospectus, as of December 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.24% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 2.79% |
| Fee waiver | −0.08% |
| Net expense ratio | 2.71% |
| 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 |
C000126825 Costs Over Time
On $10,000 invested in C000126825, assuming 5% a year before costs, total costs come to $1,814 over 5 years, cutting the return by 3.17% 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 2.71%) | $285 | $869 | $1,476 |
| Trading costs (broker commissions) | $33 | $99 | $169 |
| Lost growth on money paid in costs | $0 | $49 | $170 |
| Total costs | $317 | $1,017 | $1,814 |
| Value after costs | $10,183 | $10,559 | $10,949 |
| Impact on return, per year | 3.17% | 3.17% | 3.17% |
C000126825 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.3100%
- Total broker commissions: $1.3M
- Bought from dealers (principal trades, not a cost): $3.0B
- Portfolio turnover (prospectus): 190%
- Securities lending: none during the year
C000126825 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Bank of America, National Association | $248K | 18.86% |
| Jefferies LLC | $201K | 15.26% |
| RBC Capital Markets, LLC | $197K | 14.96% |
| Credit Suisse Securities (USA) LLC | $175K | 13.33% |
| Instinet LLC | $171K | 12.98% |
| JPMorgan Securities LLC | $156K | 11.86% |
| Goldman Sachs & Co. LLC | $135K | 10.29% |
| Morgan Stanley | $14K | 1.03% |
| CITATION FINANCIAL GROUP, L.P. | $11K | 0.81% |
| Macquarie Capital (USA) Inc. | $8K | 0.61% |
C000126825 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Bank of America, National Association | $638.4M | 21.31% |
| Jefferies LLC | $432.8M | 14.44% |
| Credit Suisse Securities (USA) LLC | $414.1M | 13.82% |
| Instinet LLC | $370.9M | 12.38% |
| JPMorgan Securities LLC | $354.0M | 11.81% |
| RBC Capital Markets, LLC | $345.8M | 11.54% |
| Goldman Sachs & Co. LLC | $339.6M | 11.33% |
| Morgan Stanley | $51.5M | 1.72% |
| Citigroup | $38.4M | 1.28% |
| Cowen and Company | $10.9M | 0.37% |
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.