FABFX Fees and Costs — Franklin Flexible Alpha Bond Fund, Class A
Data updated: 2019-12-27
The net expense ratio is 1.17% (1.26% before fee waivers). This share class carries a maximum front-end sales load of 3.75%. In fiscal 2019 the fund paid $17K in broker commissions, 0.0045% of average net assets, and portfolio turnover was 25%.
FABFX Fees and Expenses
Annual operating expenses and sales charges of FABFX. Prospectus, as of August 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.26% |
| Fee waiver | −0.09% |
| Net expense ratio | 1.17% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| 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 |
FABFX Costs Over Time
On $10,000 invested in FABFX, assuming 5% a year before costs, total costs come to $1,183 over 5 years, cutting the return by 2.02% 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 | $375 | $375 | $375 |
| Fund expenses (net expense ratio 1.17%) | $118 | $368 | $637 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $19 | $77 | $168 |
| Total costs | $512 | $822 | $1,183 |
| Value after costs | $9,988 | $10,754 | $11,580 |
| Impact on return, per year | 5.12% | 2.55% | 2.02% |
FABFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0045%
- Total broker commissions: $17K
- Bought from dealers (principal trades, not a cost): $419.3M
- Portfolio turnover (prospectus): 25%
- Securities lending: none during the year
FABFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JP MORGAN SECURITIES LLC | $17K | 100.00% |
FABFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INC (FORMELYBANK OF AMERICA NA) | $71.2M | 23.16% |
| CITIGROUP GLOBAL MARKETS INC | $52.4M | 17.02% |
| MORGAN STANLEY & CO INC | $41.1M | 13.38% |
| JP MORGAN SECURITIES LLC | $29.9M | 9.72% |
| GOLDMAN, SACHS & CO | $24.4M | 7.92% |
| BARCLAYS CAPITAL INC. | $21.4M | 6.96% |
| CREDIT SUISSE HOLDINGS (USA), INC. | $19.6M | 6.38% |
| BANQUE NATIONALE DE PARIS | $18.5M | 6.00% |
| NOMURA SECURITIES LTD | $15.5M | 5.03% |
| SG COWEN & CO., LLC | $13.6M | 4.43% |
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.