FRRAX Fees and Costs — Franklin Real Return Fund, Class A
Data updated: 2020-01-14
The net expense ratio is 0.89% (1.19% before fee waivers). This share class carries a maximum front-end sales load of 3.75%. In fiscal 2019 the fund paid $30 in broker commissions, and portfolio turnover was 28%.
FRRAX Fees and Expenses
Annual operating expenses and sales charges of FRRAX. Prospectus, as of March 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.63% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.19% |
| Fee waiver | −0.30% |
| Net expense ratio | 0.89% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| 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 | No |
FRRAX Costs Over Time
On $10,000 invested in FRRAX, assuming 5% a year before costs, total costs come to $1,016 over 5 years, cutting the return by 1.73% 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 | $375 | $375 | $375 |
| Fund expenses (net expense ratio 0.89%) | $90 | $281 | $488 |
| Lost growth on money paid in costs | $19 | $73 | $153 |
| Total costs | $484 | $729 | $1,016 |
| Value after costs | $10,016 | $10,847 | $11,747 |
| Impact on return, per year | 4.84% | 2.25% | 1.73% |
FRRAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: $30
- Bought from dealers (principal trades, not a cost): $2.9B
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
FRRAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG LLC | $30 | 100.00% |
FRRAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNP PARIBAS SECURITIES CORP | $1.9B | 64.24% |
| DEUTSCHE BANK SECURITIES INC | $529.2M | 18.17% |
| HSBC SECURITIES (USA) INC | $436.9M | 15.00% |
| BARCLAYS CAPITAL INC | $23.8M | 0.82% |
| JEFFERIES LLC | $21.9M | 0.75% |
| NOMURA SECURITIES LTD | $16.4M | 0.56% |
| WELLS FARGO SECURITIES LLC | $6.8M | 0.23% |
| RBC DOMINION SECURITIES INC. (TORONTO) | $6.7M | 0.23% |
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.