C000153754 Fees and Costs — Equity Long/Short Portfolio, Class I
Data updated: 2019-11-27
The net expense ratio is 1.27%: a 1.15% management fee, a 0.20% 12b-1 fee plus 0.07% other expenses, less a 0.15% fee waiver. There are no sales loads or redemption fees. In fiscal 2018 the fund paid $99K in broker commissions, 0.0080% of average net assets, and portfolio turnover was 0%.
C000153754 Fees and Expenses
Annual operating expenses and sales charges of C000153754. Prospectus, as of December 31, 2018.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.20% |
| Other expenses | 0.07% |
| Gross expense ratio | 1.42% |
| Fee waiver | −0.15% |
| Net expense ratio | 1.27% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
C000153754 Costs Over Time
On $10,000 invested in C000153754, assuming 5% a year before costs, total costs come to $795 over 5 years, cutting the return by 1.34% 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 1.27%) | $133 | $415 | $717 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $134 | $438 | $795 |
| Value after costs | $10,366 | $11,138 | $11,968 |
| Impact on return, per year | 1.34% | 1.34% | 1.34% |
C000153754 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): 0.0080%
- Total broker commissions: $99K
- Bought from dealers (principal trades, not a cost): $112.2B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
C000153754 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMorgan Chase & Co. | $82K | 83.02% |
| Goldman Sachs & Co. LLC | $17K | 16.98% |
C000153754 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $109.6B | 97.70% |
| JPMorgan Chase & Co. | $1.1B | 0.99% |
| The Bank of New York Mellon | $504.5M | 0.45% |
| Morgan Stanley & Co. LLC | $463.5M | 0.41% |
| Wells Fargo Brokerage Services, LLC | $255.7M | 0.23% |
| Goldman Sachs & Co. LLC | $164.1M | 0.15% |
| Scotia Capital (USA) Inc. | $84.4M | 0.08% |
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.