HLMCX Fees and Costs — Chinese Equity Portfolio, Institutional Class
Data updated: 2026-01-13
The net expense ratio is 1.16%: a 0.85% management fee plus 3.26% other expenses, less a 2.96% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.1027% of average net assets, and portfolio turnover was 31%.
HLMCX Fees and Expenses
Annual operating expenses and sales charges of HLMCX. Prospectus, as of February 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 3.26% |
| Gross expense ratio | 4.12% |
| Fee waiver | −2.96% |
| Net expense ratio | 1.16% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
HLMCX Costs Over Time
On $10,000 invested in HLMCX, assuming 5% a year before costs, total costs come to $786 over 5 years, cutting the return by 1.33% 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 1.16%) | $122 | $379 | $655 |
| Trading costs (broker commissions) | $11 | $34 | $58 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $133 | $433 | $786 |
| Value after costs | $10,367 | $11,143 | $11,977 |
| Impact on return, per year | 1.33% | 1.33% | 1.33% |
HLMCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1027%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $4.5M
- Portfolio turnover (prospectus): 31%
- Securities lending: none during the year
HLMCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| HSBC Securities (USA) Inc. | $2K | 54.92% |
| JP Morgan Securities LLC | $618 | 19.95% |
| CLSA Americas, LLC | $491 | 15.85% |
| UBS Securities LLC | $137 | 4.42% |
| Sanford C. Bernstein & Co., LLC | $111 | 3.58% |
| Jefferies LLC | $25 | 0.81% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $10 | 0.32% |
| Macquarie Capital (USA) Inc. | $4 | 0.13% |
HLMCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $4.5M | 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.