JIFAX Fees and Costs — Janus Henderson International Value Fund, Class A
Data updated: 2021-06-01
The net expense ratio is 1.23%: a 0.80% management fee, a 0.25% 12b-1 fee plus 1.11% other expenses, less a 0.93% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2020 the fund paid $8K in broker commissions, 0.0212% of average net assets, and portfolio turnover was 17%.
JIFAX Fees and Expenses
Annual operating expenses and sales charges of JIFAX. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.11% |
| Gross expense ratio | 2.16% |
| Fee waiver | −0.93% |
| Net expense ratio | 1.23% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
JIFAX Costs Over Time
On $10,000 invested in JIFAX, assuming 5% a year before costs, total costs come to $1,468 over 5 years, cutting the return by 2.53% 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 1.23%) | $122 | $379 | $655 |
| Trading costs (broker commissions) | $2 | $7 | $11 |
| Lost growth on money paid in costs | $29 | $110 | $226 |
| Total costs | $728 | $1,070 | $1,468 |
| Value after costs | $9,772 | $10,506 | $11,295 |
| Impact on return, per year | 7.28% | 3.34% | 2.53% |
JIFAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0212%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): $501.6M
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
JIFAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $2K | 22.29% |
| JP Morgan Securities LLC | $931 | 13.58% |
| Credit Suisse Securities (USA) LLC | $860 | 12.54% |
| UBS Securities LLC | $834 | 12.16% |
| Goldman Sachs & Co. LLC | $627 | 9.14% |
| Jefferies LLC | $502 | 7.32% |
| Liquidnet, Inc. | $434 | 6.33% |
| CLSA Americas, LLC | $432 | 6.30% |
| Macquarie Capital (USA) Inc. | $373 | 5.44% |
| Barclays Capital Inc. | $337 | 4.91% |
JIFAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ING Financial Markets LLC | $501.6M | 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.