FGMCX Fees and Costs — FS Alternative Income Opportunities Fund, Class A
Data updated: 2022-03-16
The net expense ratio is 1.65%: a 1.15% management fee, a 0.25% 12b-1 fee plus 14.52% other expenses, less a 14.27% fee waiver. This share class carries a maximum front-end sales load of 5.75%. Portfolio turnover was 84%.
FGMCX Fees and Expenses
Annual operating expenses and sales charges of FGMCX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.25% |
| Other expenses | 14.52% |
| Gross expense ratio | 15.92% |
| Fee waiver | −14.27% |
| Net expense ratio | 1.65% |
| 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 |
FGMCX Costs Over Time
On $10,000 invested in FGMCX, assuming 5% a year before costs, total costs come to $1,694 over 5 years, cutting the return by 2.95% 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 1.65%) | $163 | $506 | $872 |
| Lost growth on money paid in costs | $29 | $116 | $247 |
| Total costs | $767 | $1,197 | $1,694 |
| Value after costs | $9,733 | $10,379 | $11,069 |
| Impact on return, per year | 7.67% | 3.75% | 2.95% |
FGMCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $442.3M
- Portfolio turnover (prospectus): 84%
- Securities lending: none during the year
FGMCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Nomura Securities International, Inc. | $200.9M | 46.60% |
| J.P. Morgan Securities LLC | $78.1M | 18.13% |
| Goldman Sachs & Co. LLC | $61.2M | 14.21% |
| Deutsche Bank Securities Inc. | $26.9M | 6.23% |
| Morgan Stanley & Co. LLC | $16.6M | 3.86% |
| State Street Bank and Trust Company | $16.2M | 3.76% |
| SG Americas Securities, LLC | $9.9M | 2.30% |
| Barclays Capital Inc. | $9.5M | 2.21% |
| BofA Securities, Inc. | $8.1M | 1.88% |
| Nordea Bank AB | $3.5M | 0.81% |
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.