FANFX Fees and Costs — FS Market Neutral Fund, Class A
Data updated: 2020-05-29
The net expense ratio is 1.70%: a 1.20% management fee, a 0.25% 12b-1 fee plus 1.62% other expenses, less a 1.37% fee waiver. This share class carries a maximum front-end sales load of 5.75%.
FANFX Fees and Expenses
Annual operating expenses and sales charges of FANFX. Prospectus, as of April 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.20% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.62% |
| Gross expense ratio | 3.07% |
| Fee waiver | −1.37% |
| Net expense ratio | 1.70% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 | Yes |
FANFX Costs Over Time
On $10,000 invested in FANFX, assuming 5% a year before costs, total costs come to $1,722 over 5 years, cutting the return by 3.00% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.70%) | $168 | $521 | $897 |
| Lost growth on money paid in costs | $29 | $117 | $250 |
| Total costs | $772 | $1,213 | $1,722 |
| Value after costs | $9,728 | $10,364 | $11,041 |
| Impact on return, per year | 7.72% | 3.80% | 3.00% |
FANFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $420.6M
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
FANFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $390.6M | 92.87% |
| BNP Paribas Securities Corp. | $28.9M | 6.87% |
| State Street Bank and Trust Company | $1.1M | 0.27% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.