CMSAX Fees and Costs — Altegris/Crabel Multi-Strategy Fund, Class A
Data updated: 2024-11-25
The net expense ratio is 2.00%: a 1.50% management fee, a 0.25% 12b-1 fee plus 16.35% other expenses, less a 16.11% fee waiver. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2023 the fund paid $3K in broker commissions, 0.1849% of average net assets, and portfolio turnover was 0%.
CMSAX Fees and Expenses
Annual operating expenses and sales charges of CMSAX. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 16.35% |
| Gross expense ratio | 18.11% |
| Fee waiver | −16.11% |
| Net expense ratio | 2.00% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
CMSAX Costs Over Time
On $10,000 invested in CMSAX, assuming 5% a year before costs, total costs come to $1,992 over 5 years, cutting the return by 3.50% 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 | $672 | $575 | $575 |
| Fund expenses (net expense ratio 2.00%) | $198 | $610 | $1,045 |
| Trading costs (broker commissions) | $18 | $56 | $97 |
| Lost growth on money paid in costs | $29 | $124 | $276 |
| Total costs | $917 | $1,365 | $1,992 |
| Value after costs | $9,583 | $10,211 | $10,771 |
| Impact on return, per year | 9.17% | 4.30% | 3.50% |
CMSAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1849%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $15.3M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
CMSAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JP MORGAN SECURITIES LLC | $3K | 100.00% |
CMSAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| US BANCORP | $15.3M | 100.00% |
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.