FAAAX Fees and Costs — Franklin Alternative Strategies Fund, Class A
Data updated: 2026-09-25
The net expense ratio is 2.43% (2.78% before fee waivers). This share class carries a maximum front-end sales load of 5.50%. In fiscal 2026 the fund paid $328K in broker commissions, 0.0618% of average net assets, and portfolio turnover was 363%.
FAAAX Fees and Expenses
Annual operating expenses and sales charges of FAAAX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.80% |
| Gross expense ratio | 2.78% |
| Fee waiver | −0.35% |
| Net expense ratio | 2.43% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 | No |
FAAAX Costs Over Time
On $10,000 invested in FAAAX, assuming 5% a year before costs, total costs come to $2,132 over 5 years, cutting the return by 3.77% 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 | $550 | $550 | $550 |
| Fund expenses (net expense ratio 2.43%) | $241 | $741 | $1,264 |
| Trading costs (broker commissions) | $6 | $19 | $32 |
| Lost growth on money paid in costs | $27 | $125 | $285 |
| Total costs | $825 | $1,434 | $2,132 |
| Value after costs | $9,675 | $10,142 | $10,631 |
| Impact on return, per year | 8.25% | 4.53% | 3.77% |
FAAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0618%
- Total broker commissions: $328K
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 363%
- Securities on loan, average value: $7.0M
- Net income from securities lending: $40K (0.008% of average net assets)
FAAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $73K | 32.43% |
| CITADEL SECURITIES LLC | $28K | 12.58% |
| MORGAN STANLEY & CO. LLC | $24K | 10.79% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $23K | 10.40% |
| JEFFERIES LLC | $23K | 10.36% |
| ROTH CAPITAL PARTNERS, LLC | $13K | 5.98% |
| Instinet LLC | $12K | 5.14% |
| J.P. Morgan Securities LLC | $10K | 4.66% |
| BARCLAYS CAPITAL, INC. | $9K | 3.87% |
| MAREX SPECTRON USA LLC | $8K | 3.79% |
FAAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL, INC. | $254.4M | 23.99% |
| J.P. Morgan Securities LLC | $247.1M | 23.31% |
| BOFA SECURITIES, INC. | $135.8M | 12.81% |
| CitiGroup Global Markets Inc. | $99.3M | 9.37% |
| BMO CAPITAL MARKETS CORP. | $98.0M | 9.24% |
| Wells Fargo Securities LLC | $61.7M | 5.82% |
| Goldman Sachs & Co. LLC | $48.2M | 4.55% |
| MORGAN STANLEY & CO. LLC | $48.1M | 4.54% |
| BNP PARIBAS SECURITIES CORP. | $36.4M | 3.43% |
| HSBC SECURITIES (USA), INC. | $31.2M | 2.94% |
Franklin Alternative Strategies Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FABZX | Advisor Class | 2.18% | none |
| FASRX | Class R6 | 2.18% | none |
| FAAAX | Class A | 2.43% | 5.50% |
| FSKKX | Class R | 2.68% | none |
| FASCX | Class C | 3.18% | none |
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.