C000138920 Fees and Costs — Multimanager Mid Cap Growth Portfolio, Class K
Data updated: 2020-08-25
The net expense ratio is 0.85%: a 0.80% management fee plus 0.26% other expenses, less a 0.21% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $64K in broker commissions, 0.0304% of average net assets, and portfolio turnover was 47%.
C000138920 Fees and Expenses
Annual operating expenses and sales charges of C000138920. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.26% |
| Gross expense ratio | 1.06% |
| Fee waiver | −0.21% |
| Net expense ratio | 0.85% |
| 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 | Yes |
C000138920 Costs Over Time
On $10,000 invested in C000138920, assuming 5% a year before costs, total costs come to $552 over 5 years, cutting the return by 0.92% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $14 | $51 |
| Total costs | $92 | $303 | $552 |
| Value after costs | $10,408 | $11,273 | $12,211 |
| Impact on return, per year | 0.92% | 0.92% | 0.92% |
C000138920 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0304%
- Total broker commissions: $64K
- Bought from dealers (principal trades, not a cost): $48.6M
- Portfolio turnover (prospectus): 47%
- Securities on loan, average value: $14.0M
- Net income from securities lending: $173K (0.082% of average net assets)
C000138920 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $12K | 27.22% |
| Virtu Americas LLC | $5K | 11.12% |
| UBS Securities LLC | $4K | 9.89% |
| Deutsche Bank Securities Inc. | $4K | 9.55% |
| Cowen and Company | $4K | 8.97% |
| Morgan Stanley & Co. LLC | $4K | 8.83% |
| J.P. Morgan Securities LLC | $3K | 7.23% |
| Jefferies LLC | $3K | 6.89% |
| Credit Suisse Securities (USA) LLC | $2K | 5.41% |
| Rosenblatt Securities Inc. | $2K | 4.90% |
C000138920 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $47.2M | 97.15% |
| Morgan Stanley & Co. LLC | $840K | 1.73% |
| Goldman Sachs & Co. LLC | $261K | 0.54% |
| Citigroup Global Markets Inc. | $173K | 0.36% |
| SVB Leerink LLC | $36K | 0.07% |
| UBS Securities LLC | $26K | 0.05% |
| Credit Suisse Securities (USA) LLC | $17K | 0.03% |
| Instinet, LLC | $14K | 0.03% |
| BMO Nesbitt Burns Securities Ltd. | $10K | 0.02% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $9K | 0.02% |
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.