C000162178 Fees and Costs — Franklin Global Market Neutral Fund, Class IS
Data updated: 2023-08-24
The net expense ratio is 3.11%: a 0.95% management fee plus 2.40% other expenses, less a 0.24% fee waiver. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $83K in broker commissions, 0.1271% of average net assets, and portfolio turnover was 149%.
C000162178 Fees and Expenses
Annual operating expenses and sales charges of C000162178. Prospectus, as of January 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 2.40% |
| Gross expense ratio | 3.35% |
| Fee waiver | −0.24% |
| Net expense ratio | 3.11% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000162178 Costs Over Time
On $10,000 invested in C000162178, assuming 5% a year before costs, total costs come to $1,936 over 5 years, cutting the return by 3.40% 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 3.11%) | $327 | $995 | $1,686 |
| Trading costs (broker commissions) | $13 | $41 | $69 |
| Lost growth on money paid in costs | $0 | $52 | $181 |
| Total costs | $340 | $1,088 | $1,936 |
| Value after costs | $10,160 | $10,488 | $10,827 |
| Impact on return, per year | 3.40% | 3.40% | 3.40% |
C000162178 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.1271%
- Total broker commissions: $83K
- Bought from dealers (principal trades, not a cost): $180.9M
- Portfolio turnover (prospectus): 149%
- Securities lending: none during the year
C000162178 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $18K | 22.42% |
| COWEN AND COMPANY | $13K | 15.60% |
| HSBC SECURITIES (USA) INC. | $12K | 14.23% |
| SANFORD C. BERNSTEIN & CO., LLC | $9K | 10.43% |
| INSTINET, LLC | $8K | 10.04% |
| MORGAN STANLEY & CO. LLC | $7K | 8.18% |
| VIRTU AMERICAS LLC | $7K | 8.18% |
| RBC CAPITAL MARKETS, LLC | $5K | 6.25% |
| UBS Securities LLC | $3K | 3.20% |
| BARCLAYS CAPITAL, INC. | $1K | 1.46% |
C000162178 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $180.7M | 99.89% |
| RBC CAPITAL MARKETS LLC | $207K | 0.11% |
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.