INMAX Fees and Costs — Altegris/AACA Real Estate Income Fund, Class A
Data updated: 2019-11-27
The net expense ratio is 1.30%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.40% other expenses, less a 0.05% fee waiver. This share class carries a maximum front-end sales load of 5.75%, a deferred sales charge of up to 1.00% and a redemption fee of 1.00%. In fiscal 2018 the fund paid $1K in broker commissions, 0.3140% of average net assets, and portfolio turnover was 154%.
INMAX Fees and Expenses
Annual operating expenses and sales charges of INMAX. Prospectus, as of April 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.40% |
| Gross expense ratio | 1.35% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.30% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
INMAX Costs Over Time
On $10,000 invested in INMAX, assuming 5% a year before costs, total costs come to $1,674 over 5 years, cutting the return by 2.91% 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 | $672 | $575 | $575 |
| Fund expenses (net expense ratio 1.30%) | $129 | $399 | $687 |
| Trading costs (broker commissions) | $31 | $96 | $166 |
| Lost growth on money paid in costs | $29 | $115 | $246 |
| Total costs | $861 | $1,185 | $1,674 |
| Value after costs | $9,639 | $10,391 | $11,089 |
| Impact on return, per year | 8.61% | 3.71% | 2.91% |
INMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2018.
- Explicit cost rate (commissions ÷ average net assets): 0.3140%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 154%
- Securities lending: none during the year
INMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $1K | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.