FAEQX Fees and Costs — First American Multi-Manager Domestic Equity Fund, Institutional Class
Data updated: 2026-08-28
The net expense ratio is 0.39%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $407K in broker commissions, 0.0348% of average net assets, and portfolio turnover was 40%.
FAEQX Fees and Expenses
Annual operating expenses and sales charges of FAEQX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.07% |
| Gross expense ratio | 0.39% |
| Fee waiver | — |
| Net expense ratio | 0.39% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FAEQX Costs Over Time
On $10,000 invested in FAEQX, assuming 5% a year before costs, total costs come to $269 over 5 years, cutting the return by 0.45% 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 0.39%) | $41 | $129 | $224 |
| Trading costs (broker commissions) | $4 | $11 | $20 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $45 | $147 | $269 |
| Value after costs | $10,455 | $11,429 | $12,494 |
| Impact on return, per year | 0.45% | 0.45% | 0.45% |
FAEQX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0348%
- Total broker commissions: $407K
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 40%
- Securities lending: none during the year
FAEQX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $222K | 56.29% |
| J.P. Morgan Securities LLC | $125K | 31.60% |
| Virtu Americas LLC | $15K | 3.90% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $10K | 2.53% |
| Instinet, LLC | $7K | 1.81% |
| Liquidnet, Inc. | $4K | 1.00% |
| Citigroup Global Markets Inc. | $3K | 0.87% |
| UBS Asset Management (US) Inc. | $3K | 0.73% |
| Goldman Sachs & Co. LLC | $3K | 0.65% |
| Oppenheimer & Co., Inc. | $2K | 0.62% |
FAEQX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bancorp Asset Management, Inc. | $123.8M | 99.10% |
| J.P. Morgan Securities LLC | $509K | 0.41% |
| Goldman Sachs & Co. LLC | $282K | 0.23% |
| Morgan Stanley & Co. LLC | $112K | 0.09% |
| Citigroup Global Markets Inc. | $74K | 0.06% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $55K | 0.04% |
| Raymond James & Associates, Inc. | $50K | 0.04% |
| Barclays Capital Inc. | $28K | 0.02% |
| BofA Securities, Inc. | $17K | 0.01% |
| Virtu Americas LLC | $85 | 0.00% |
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.