C000157437 Fees and Costs — Multi-Manager U.S. Dynamic Equity Fund, Class P
Data updated: 2021-01-14
The net expense ratio is 0.79%: a 0.80% management fee plus 0.39% other expenses, less a 0.41% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $219K in broker commissions, 0.1403% of average net assets, and portfolio turnover was 91%.
C000157437 Fees and Expenses
Annual operating expenses and sales charges of C000157437. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.20% |
| Fee waiver | −0.41% |
| Net expense ratio | 0.79% |
| 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 | No |
C000157437 Costs Over Time
On $10,000 invested in C000157437, assuming 5% a year before costs, total costs come to $583 over 5 years, cutting the return by 0.98% 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 0.79%) | $83 | $259 | $449 |
| Trading costs (broker commissions) | $15 | $46 | $80 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $98 | $320 | $583 |
| Value after costs | $10,402 | $11,256 | $12,180 |
| Impact on return, per year | 0.98% | 0.98% | 0.98% |
C000157437 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1403%
- Total broker commissions: $219K
- Bought from dealers (principal trades, not a cost): $1.2M
- Portfolio turnover (prospectus): 91%
- Securities lending: none during the year
C000157437 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $68K | 36.90% |
| National Financial Services LLC | $25K | 13.61% |
| Barclays Capital Inc. | $24K | 13.31% |
| Raymond James & Associates, Inc. | $14K | 7.69% |
| J.P. Morgan Securities LLC | $13K | 7.35% |
| KeyBanc Capital Markets Inc. | $9K | 4.68% |
| Instinet, LLC | $8K | 4.45% |
| UBS Securities LLC | $8K | 4.17% |
| Broadcort Capital Corp. | $7K | 3.99% |
| Wells Fargo Securities, LLC | $7K | 3.85% |
C000157437 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $926K | 77.12% |
| R.I.S., Inc. | $176K | 14.65% |
| Instinet, LLC | $55K | 4.56% |
| Goldman Sachs & Co. LLC | $44K | 3.67% |
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.