C000144861 Fees and Costs — T. Rowe Price Institutional Frontier Markets Equity Fund
Data updated: 2020-03-27
The net expense ratio is 1.36%: a 1.10% management fee plus 0.63% other expenses, less a 0.37% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $101K in broker commissions, 0.2160% of average net assets, and portfolio turnover was 55%.
C000144861 Fees and Expenses
Annual operating expenses and sales charges of C000144861. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | — |
| Other expenses | 0.63% |
| Gross expense ratio | 1.73% |
| Fee waiver | −0.37% |
| Net expense ratio | 1.36% |
| 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 |
C000144861 Costs Over Time
On $10,000 invested in C000144861, assuming 5% a year before costs, total costs come to $975 over 5 years, cutting the return by 1.65% 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 1.36%) | $143 | $443 | $763 |
| Trading costs (broker commissions) | $23 | $70 | $121 |
| Lost growth on money paid in costs | $0 | $26 | $90 |
| Total costs | $165 | $539 | $975 |
| Value after costs | $10,335 | $11,038 | $11,788 |
| Impact on return, per year | 1.65% | 1.65% | 1.65% |
C000144861 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.2160%
- Total broker commissions: $101K
- Bought from dealers (principal trades, not a cost): $2.6M
- Portfolio turnover (prospectus): 55%
- Securities lending: none during the year
C000144861 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $22K | 27.96% |
| EXOTIX PARTNERS LLP | $18K | 22.18% |
| EFG Hermes KSA | $11K | 13.48% |
| Onexim Group Limited | $7K | 8.82% |
| JP MORGAN CHASE & CO. | $5K | 6.69% |
| Viet Capital Securities Joint Stock Company | $4K | 5.36% |
| CITIC SECURITIES | $4K | 4.53% |
| Deutsche Bank Aktiengesellschaft | $3K | 4.10% |
| HSBC HOLDINGS PLC | $3K | 3.97% |
| Citigroup, Inc. | $2K | 2.91% |
C000144861 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Onexim Group Limited | $859K | 37.20% |
| Morgan Stanley | $382K | 16.53% |
| JP MORGAN CHASE & CO. | $286K | 12.41% |
| Deutsche Bank Aktiengesellschaft | $136K | 5.91% |
| EFG Hermes KSA | $125K | 5.41% |
| Bank of America Corporation | $125K | 5.41% |
| Jefferies Financial Group Inc. | $125K | 5.41% |
| Standard Chartered Bank | $125K | 5.41% |
| Citigroup Inc. | $83K | 3.61% |
| Mizuho Financial Group, Inc. | $62K | 2.70% |
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.