JAECX Fees and Costs — James Alpha Event Driven Portfolio, Class C
Data updated: 2021-04-28
The net expense ratio is 3.53% (4.63% before fee waivers). This share class carries a deferred sales charge of up to 1.00%. In fiscal 2020 the fund paid $5K in broker commissions, 0.0797% of average net assets, and portfolio turnover was 112%.
JAECX Fees and Expenses
Annual operating expenses and sales charges of JAECX. Prospectus, as of March 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 1.00% |
| Other expenses | 1.59% |
| Gross expense ratio | 4.63% |
| Fee waiver | −1.10% |
| Net expense ratio | 3.53% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
JAECX Costs Over Time
On $10,000 invested in JAECX, assuming 5% a year before costs, total costs come to $2,143 over 5 years, cutting the return by 3.79% 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 | $101 | $0 | $0 |
| Fund expenses (net expense ratio 3.53%) | $371 | $1,125 | $1,899 |
| Trading costs (broker commissions) | $8 | $25 | $43 |
| Lost growth on money paid in costs | $0 | $58 | $202 |
| Total costs | $480 | $1,209 | $2,143 |
| Value after costs | $10,020 | $10,367 | $10,620 |
| Impact on return, per year | 4.80% | 3.79% | 3.79% |
JAECX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0797%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $3.6M
- Portfolio turnover (prospectus): 112%
- Securities lending: none during the year
JAECX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $3K | 68.83% |
| KNIGHT CAPITAL GROUP | $2K | 31.17% |
JAECX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $3.6M | 99.63% |
| GOLDMAN SACHS | $13K | 0.37% |
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.