FMGFX Fees and Costs — FS Managed Futures Fund, Class I
Data updated: 2022-05-27
The net expense ratio is 1.40%: a 1.15% management fee plus 12.88% other expenses, less a 12.63% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 0%.
FMGFX Fees and Expenses
Annual operating expenses and sales charges of FMGFX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 12.88% |
| Gross expense ratio | 14.03% |
| Fee waiver | −12.63% |
| 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 |
FMGFX Costs Over Time
On $10,000 invested in FMGFX, 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% |
FMGFX 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): $41.5M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
FMGFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $16.0M | 38.59% |
| J.P. Morgan Securities LLC | $7.4M | 17.92% |
| BNP Paribas Securities Corp. | $4.7M | 11.31% |
| Goldman Sachs & Co. LLC | $4.4M | 10.53% |
| Deutsche Bank Securities Inc. | $3.6M | 8.56% |
| Macquarie Capital (USA) Inc. | $2.8M | 6.76% |
| Nomura Securities International, Inc. | $1.2M | 2.90% |
| State Street Bank and Trust Company | $787K | 1.90% |
| BofA Securities, Inc. | $638K | 1.54% |
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.