HLREX Fees and Costs — Emerging Markets Research Portfolio, Institutional Class
Data updated: 2024-03-27
The net expense ratio is 1.15%: a 1.00% management fee plus 1.36% other expenses, less a 1.21% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $9K in broker commissions, 0.1426% of average net assets, and portfolio turnover was 43%.
HLREX Fees and Expenses
Annual operating expenses and sales charges of HLREX. Prospectus, as of February 28, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.36% |
| Gross expense ratio | 2.36% |
| Fee waiver | −1.21% |
| Net expense ratio | 1.15% |
| 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 |
HLREX Costs Over Time
On $10,000 invested in HLREX, assuming 5% a year before costs, total costs come to $804 over 5 years, cutting the return by 1.36% 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 1.15%) | $121 | $376 | $649 |
| Trading costs (broker commissions) | $15 | $47 | $81 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $136 | $443 | $804 |
| Value after costs | $10,364 | $11,133 | $11,959 |
| Impact on return, per year | 1.36% | 1.36% | 1.36% |
HLREX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1426%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 43%
- Securities lending: none during the year
HLREX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. | $4K | 47.65% |
| HSBC Securities (USA) Inc. | $2K | 17.77% |
| CLSA Americas, LLC | $1K | 13.19% |
| Credit Suisse Securities (USA) LLC | $441 | 5.11% |
| Jefferies LLC | $438 | 5.07% |
| Macquarie Capital (USA) Inc. | $380 | 4.40% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $240 | 2.78% |
| Sanford C. Bernstein & Co., LLC | $209 | 2.42% |
| Auerbach Grayson & Co., Inc. | $139 | 1.61% |
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.