GRRIX Fees and Costs — James Alpha Macro Portfolio, Class I
Data updated: 2021-04-28
The net expense ratio is 2.13% (3.17% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $5K in broker commissions, 0.0496% of average net assets, and portfolio turnover was 125%.
GRRIX Fees and Expenses
Annual operating expenses and sales charges of GRRIX. Prospectus, as of December 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 3.17% |
| Fee waiver | −1.04% |
| Net expense ratio | 2.13% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
GRRIX Costs Over Time
On $10,000 invested in GRRIX, assuming 5% a year before costs, total costs come to $1,332 over 5 years, cutting the return by 2.29% 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 2.13%) | $224 | $689 | $1,181 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $35 | $124 |
| Total costs | $229 | $741 | $1,332 |
| Value after costs | $10,271 | $10,836 | $11,431 |
| Impact on return, per year | 2.29% | 2.29% | 2.29% |
GRRIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0496%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $3.0M
- Portfolio turnover (prospectus): 125%
- Securities lending: none during the year
GRRIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS | $3K | 53.76% |
| Knight Capital Group (Now Virtu Americas LLC) | $2K | 46.24% |
GRRIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY Mellon | $3.0M | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.