GMNFX Fees and Costs — Gotham Master Neutral Fund, Institutional Class
Data updated: 2020-12-14
The net expense ratio is 1.39% (2.72% before fee waivers). This share class carries a redemption fee of 1.00%. In fiscal 2020 the fund paid $4K in broker commissions, 0.0301% of average net assets, and portfolio turnover was 166%.
GMNFX Fees and Expenses
Annual operating expenses and sales charges of GMNFX. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.23% |
| Gross expense ratio | 2.72% |
| Fee waiver | −1.33% |
| Net expense ratio | 1.39% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
GMNFX Costs Over Time
On $10,000 invested in GMNFX, assuming 5% a year before costs, total costs come to $881 over 5 years, cutting the return by 1.49% 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 1.39%) | $146 | $453 | $783 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $23 | $81 |
| Total costs | $149 | $486 | $881 |
| Value after costs | $10,351 | $11,090 | $11,882 |
| Impact on return, per year | 1.49% | 1.49% | 1.49% |
GMNFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0301%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $12.8M
- Portfolio turnover (prospectus): 166%
- Securities lending: none during the year
GMNFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $4K | 100.00% |
GMNFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $10.8M | 84.75% |
| MORGAN STANLEY & CO. LLC | $1.9M | 15.25% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.