JEAMX Fees and Costs — James Alpha Managed Risk Emerging Markets Equity Portfolio, Class A
Data updated: 2021-04-20
The net expense ratio is 2.81% (3.60% before fee waivers). This share class carries a maximum front-end sales load of 5.75%. In fiscal 2020 the fund paid $128K in broker commissions, 2.4104% of average net assets, and portfolio turnover was 519%.
JEAMX Fees and Expenses
Annual operating expenses and sales charges of JEAMX. Prospectus, as of December 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.20% |
| 12b-1 fee | 0.25% |
| Other expenses | — |
| Gross expense ratio | 3.60% |
| Fee waiver | −0.79% |
| Net expense ratio | 2.81% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
JEAMX Costs Over Time
On $10,000 invested in JEAMX, assuming 5% a year before costs, total costs come to $3,563 over 5 years, cutting the return by 6.65% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 2.81%) | $278 | $830 | $1,377 |
| Trading costs (broker commissions) | $239 | $712 | $1,181 |
| Lost growth on money paid in costs | $29 | $169 | $429 |
| Total costs | $1,120 | $2,287 | $3,563 |
| Value after costs | $9,380 | $9,290 | $9,200 |
| Impact on return, per year | 11.20% | 7.43% | 6.65% |
JEAMX 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): 2.4104%
- Total broker commissions: $128K
- Bought from dealers (principal trades, not a cost): $1.2M
- Portfolio turnover (prospectus): 519%
- Securities lending: none during the year
JEAMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Pershing | $127K | 98.89% |
| Dash Financial | $1K | 1.11% |
JEAMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Pershing | $1.2M | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.