C000157852 Fees and Costs — 1290 Convertible Securities Fund, Class A
Data updated: 2020-09-28
The net expense ratio is 1.15%: a 0.70% management fee, a 0.25% 12b-1 fee plus 1.04% other expenses, less a 0.84% fee waiver. This share class carries a maximum front-end sales load of 4.50% and a deferred sales charge of up to 1.00%. In fiscal 2019 the fund paid $3 in broker commissions, and portfolio turnover was 47%.
C000157852 Fees and Expenses
Annual operating expenses and sales charges of C000157852. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.04% |
| Gross expense ratio | 1.99% |
| Fee waiver | −0.84% |
| Net expense ratio | 1.15% |
| Sales charges | |
|---|---|
| Max front load | 4.50% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000157852 Costs Over Time
On $10,000 invested in C000157852, assuming 5% a year before costs, total costs come to $1,259 over 5 years, cutting the return by 2.16% 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 |
| Sales charges | $549 | $450 | $450 |
| Fund expenses (net expense ratio 1.15%) | $115 | $359 | $622 |
| Lost growth on money paid in costs | $23 | $89 | $187 |
| Total costs | $687 | $898 | $1,259 |
| Value after costs | $9,813 | $10,678 | $11,504 |
| Impact on return, per year | 6.87% | 2.79% | 2.16% |
C000157852 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): —
- Total broker commissions: $3
- Bought from dealers (principal trades, not a cost): $23.5M
- Portfolio turnover (prospectus): 47%
- Securities lending: none during the year
C000157852 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $3 | 100.00% |
C000157852 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE & CO. | $4.5M | 23.00% |
| BANK OF AMERICA CORP | $4.2M | 21.39% |
| MORGAN STANLEY & CO., INC. | $1.9M | 9.78% |
| BARCLAYS CAPITAL, INC. | $1.9M | 9.66% |
| CITIGROUP, INC. | $1.6M | 8.06% |
| MITSUBISHI UFJ SECURITIES HOLDING CO | $1.4M | 7.09% |
| Nomura Group | $1.2M | 5.93% |
| WELLS FARGO & CO. | $1.0M | 5.33% |
| Mizuho Financial Group | $989K | 5.08% |
| CREDIT SUISSE GROUP | $913K | 4.69% |
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.