FGMIX Fees and Costs — FS Alternative Income Opportunities Fund, Class I
Data updated: 2022-03-16
The net expense ratio is 1.40%: a 1.15% management fee plus 14.82% other expenses, less a 14.57% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 84%.
FGMIX Fees and Expenses
Annual operating expenses and sales charges of FGMIX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 14.82% |
| Gross expense ratio | 15.97% |
| Fee waiver | −14.57% |
| Net expense ratio | 1.40% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
FGMIX Costs Over Time
On $10,000 invested in FGMIX, assuming 5% a year before costs, total costs come to $869 over 5 years, cutting the return by 1.47% 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 1.40%) | $147 | $457 | $789 |
| Lost growth on money paid in costs | $0 | $23 | $80 |
| Total costs | $147 | $479 | $869 |
| Value after costs | $10,353 | $11,097 | $11,894 |
| Impact on return, per year | 1.47% | 1.47% | 1.47% |
FGMIX 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
FGMIX 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.