JICPX Fees and Costs — Capital Appreciation Fund, Class 1
Data updated: 2025-07-29
The net expense ratio is 0.79%: a 0.71% management fee, a 0.05% 12b-1 fee plus 0.04% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $263K in broker commissions, 0.0161% of average net assets, and portfolio turnover was 34%.
JICPX Fees and Expenses
Annual operating expenses and sales charges of JICPX. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.71% |
| 12b-1 fee | 0.05% |
| Other expenses | 0.04% |
| Gross expense ratio | 0.80% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.79% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
JICPX Costs Over Time
On $10,000 invested in JICPX, assuming 5% a year before costs, total costs come to $506 over 5 years, cutting the return by 0.85% 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 0.79%) | $83 | $259 | $451 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $13 | $46 |
| Total costs | $85 | $278 | $506 |
| Value after costs | $10,415 | $11,299 | $12,257 |
| Impact on return, per year | 0.85% | 0.85% | 0.85% |
JICPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0161%
- Total broker commissions: $263K
- Bought from dealers (principal trades, not a cost): $762.1M
- Portfolio turnover (prospectus): 34%
- Securities on loan, average value: $4.2M
- Net income from securities lending: $40K (0.002% of average net assets)
JICPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Capital Institutional Services, Inc. | $42K | 22.27% |
| J.P. Morgan Securities LLC | $36K | 19.08% |
| Morgan Stanley & Co. LLC | $23K | 12.36% |
| Jefferies LLC | $21K | 10.89% |
| Cowen Execution Services LLC | $17K | 9.05% |
| UBS AG | $12K | 6.11% |
| Evercore Group L.L.C. | $11K | 5.67% |
| Piper Jaffray & Co. | $10K | 5.34% |
| Goldman Sachs & Co. LLC | $9K | 4.95% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $8K | 4.28% |
JICPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $760.4M | 99.78% |
| Barclays Bank PLC | $1.7M | 0.22% |
| Liquidnet, Inc. | $3K | 0.00% |
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.