JPPAX Fees and Costs — Janus Henderson Global Value Fund, Class A
Data updated: 2021-06-01
The net expense ratio is 1.00%: a 0.41% management fee, a 0.25% 12b-1 fee plus 0.34% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2020 the fund paid $46K in broker commissions, 0.0261% of average net assets, and portfolio turnover was 24%.
JPPAX Fees and Expenses
Annual operating expenses and sales charges of JPPAX. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.41% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.34% |
| Gross expense ratio | 1.00% |
| Fee waiver | — |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
JPPAX Costs Over Time
On $10,000 invested in JPPAX, assuming 5% a year before costs, total costs come to $1,338 over 5 years, cutting the return by 2.30% 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 1.00%) | $99 | $309 | $535 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $29 | $106 | $214 |
| Total costs | $705 | $998 | $1,338 |
| Value after costs | $9,795 | $10,578 | $11,424 |
| Impact on return, per year | 7.05% | 3.11% | 2.30% |
JPPAX 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): 0.0261%
- Total broker commissions: $46K
- Bought from dealers (principal trades, not a cost): $2.1B
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
JPPAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Credit Suisse Securities (USA) LLC | $10K | 27.38% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $7K | 20.16% |
| JP Morgan Securities LLC | $6K | 15.55% |
| UBS Securities LLC | $3K | 8.46% |
| Goldman Sachs & Co. LLC | $3K | 7.29% |
| Liquidnet, Inc. | $2K | 6.42% |
| Jefferies LLC | $2K | 4.29% |
| CLSA Americas, LLC | $1K | 3.71% |
| Barclays Capital Inc. | $1K | 3.50% |
| Citigroup Global Markets Inc. | $1K | 3.24% |
JPPAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ING Financial Markets LLC | $2.0B | 99.03% |
| RBC Capital Markets, LLC | $20.0M | 0.97% |
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.