FMIAX Fees and Costs — Franklin Mutual International Fund, Class A
Data updated: 2020-03-16
The net expense ratio is 1.22%: a 0.88% management fee, a 0.25% 12b-1 fee plus 0.33% other expenses, less a 0.24% fee waiver. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2019 the fund paid $65K in broker commissions, 0.0512% of average net assets, and portfolio turnover was 29%.
FMIAX Fees and Expenses
Annual operating expenses and sales charges of FMIAX. Prospectus, as of April 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.88% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.33% |
| Gross expense ratio | 1.46% |
| Fee waiver | −0.24% |
| Net expense ratio | 1.22% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 | No |
FMIAX Costs Over Time
On $10,000 invested in FMIAX, assuming 5% a year before costs, total costs come to $1,449 over 5 years, cutting the return by 2.50% 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 | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.22%) | $121 | $377 | $651 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $27 | $106 | $221 |
| Total costs | $704 | $1,049 | $1,449 |
| Value after costs | $9,796 | $10,528 | $11,314 |
| Impact on return, per year | 7.04% | 3.27% | 2.50% |
FMIAX 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): 0.0512%
- Total broker commissions: $65K
- Bought from dealers (principal trades, not a cost): $1.4B
- Portfolio turnover (prospectus): 29%
- Securities lending: none during the year
FMIAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JP MORGAN SECURITIES LLC | $20K | 35.53% |
| BOFA SECURITIES INC | $13K | 22.63% |
| SANFORD C BERN AND CO LLC | $8K | 13.86% |
| JEFFERIES LLC | $3K | 5.80% |
| UBS SECURITIES LLC | $3K | 5.56% |
| LIQUIDNET, INC. | $3K | 4.54% |
| SMBC NIKKO SECURITIES HK | $2K | 3.36% |
| MORGAN STANLEY AND CO LLC | $2K | 2.98% |
| DEUTSCHE BANK SECURITIES INC | $2K | 2.94% |
| JOH BERENBERG GOSSLER UND | $2K | 2.81% |
FMIAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $1.3B | 90.75% |
| BNY MELLON CAPITAL MARKETS, LLC | $106.7M | 7.44% |
| BARCLAYS CAPITAL INC | $25.7M | 1.79% |
| BOFA SECURITIES INC | $313K | 0.02% |
| SANFORD C BERN AND CO LLC | $34 | 0.00% |
| LIQUIDNET, INC. | $17 | 0.00% |
| RBC CAPITAL MARKETS LLC | $4 | 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.