C000194827 Fees and Costs — PF Multi-Asset Fund, Class P
Data updated: 2023-06-07
The net expense ratio is 0.51%: a 0.35% management fee plus 0.21% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $7K in broker commissions, 0.0008% of average net assets, and portfolio turnover was 50%.
C000194827 Fees and Expenses
Annual operating expenses and sales charges of C000194827. Prospectus, as of March 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | — |
| Other expenses | 0.21% |
| Gross expense ratio | 0.56% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.51% |
| 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 |
C000194827 Costs Over Time
On $10,000 invested in C000194827, assuming 5% a year before costs, total costs come to $323 over 5 years, cutting the return by 0.54% 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 0.51%) | $54 | $168 | $293 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $54 | $176 | $323 |
| Value after costs | $10,446 | $11,400 | $12,440 |
| Impact on return, per year | 0.54% | 0.54% | 0.54% |
C000194827 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0008%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $806.7M
- Portfolio turnover (prospectus): 50%
- Securities lending: none during the year
C000194827 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $7K | 100.00% |
C000194827 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $155.2M | 23.46% |
| BMO CAPITAL MARKETS CORP. | $131.3M | 19.85% |
| MORGAN STANLEY & CO. LLC | $70.0M | 10.58% |
| Mizuho Securities USA LLC | $65.9M | 9.97% |
| BNP PARIBAS SECURITIES CORP. | $56.7M | 8.58% |
| CitiGroup Global Markets Inc. | $49.4M | 7.47% |
| Goldman Sachs & Co. LLC | $48.4M | 7.31% |
| TD SECURITIES (USA) LLC | $38.1M | 5.76% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $26.2M | 3.97% |
| BARCLAYS CAPITAL, INC. | $20.2M | 3.05% |
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.