C000138923 Fees and Costs — Multimanager Mid Cap Value Portfolio, Class K
Data updated: 2020-08-25
The net expense ratio is 0.85%: a 0.80% management fee plus 0.27% other expenses, less a 0.22% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $37K in broker commissions, 0.0219% of average net assets, and portfolio turnover was 48%.
C000138923 Fees and Expenses
Annual operating expenses and sales charges of C000138923. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.07% |
| Fee waiver | −0.22% |
| 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 |
C000138923 Costs Over Time
On $10,000 invested in C000138923, assuming 5% a year before costs, total costs come to $547 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) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $92 | $300 | $547 |
| Value after costs | $10,408 | $11,276 | $12,216 |
| Impact on return, per year | 0.92% | 0.92% | 0.92% |
C000138923 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): 0.0219%
- Total broker commissions: $37K
- Bought from dealers (principal trades, not a cost): $7.5M
- Portfolio turnover (prospectus): 48%
- Securities on loan, average value: $4.4M
- Net income from securities lending: $71K (0.042% of average net assets)
C000138923 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| National Financial Services LLC | $15K | 52.30% |
| Weeden & Co. L.P. | $3K | 10.60% |
| Citigroup Global Markets Inc. | $2K | 7.96% |
| J.P. Morgan Securities LLC | $2K | 6.28% |
| Sanford C. Bernstein & Co., LLC | $2K | 5.85% |
| Piper Sandler & Co. | $1K | 4.13% |
| Credit Suisse Securities (USA) LLC | $1K | 3.87% |
| Barclays Capital, Inc. | $948 | 3.21% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $856 | 2.90% |
| Morgan Stanley & Co. LLC | $849 | 2.88% |
C000138923 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $7.5M | 99.84% |
| Instinet, LLC | $9K | 0.12% |
| BTIG, LLC | $2K | 0.02% |
| Credit Suisse Securities (USA) LLC | $416 | 0.01% |
| Virtu Americas LLC | $407 | 0.01% |
| BofA Securities, Inc. | $88 | 0.00% |
| Piper Sandler & Co. | $0 | 0.00% |
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.