LUNAX Fees and Costs — Saratoga Conservative Balanced Allocation Portfolio, Class I
Data updated: 2026-07-24
The net expense ratio is 1.75% (3.04% before fee waivers). There are no sales loads or redemption fees. Portfolio turnover was 13%.
LUNAX Fees and Expenses
Annual operating expenses and sales charges of LUNAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | — |
| Other expenses | 1.38% |
| Gross expense ratio | 3.04% |
| Fee waiver | −1.29% |
| Net expense ratio | 1.75% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 | Yes |
LUNAX Costs Over Time
On $10,000 invested in LUNAX, assuming 5% a year before costs, total costs come to $1,078 over 5 years, cutting the return by 1.84% 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 1.75%) | $184 | $569 | $979 |
| Lost growth on money paid in costs | $0 | $28 | $100 |
| Total costs | $184 | $597 | $1,078 |
| Value after costs | $10,316 | $10,979 | $11,684 |
| Impact on return, per year | 1.84% | 1.84% | 1.84% |
LUNAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $698K
- Portfolio turnover (prospectus): 13%
- Securities lending: none during the year
LUNAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY Mellon Corp. | $698K | 100.00% |
Saratoga Conservative Balanced Allocation Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LUNAX | Class I | 1.75% | none |
| SCAAX | Class A | 2.00% | 5.75% |
| SUMCX | Class C | 2.75% | none |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.