MBESX Fees and Costs — AMG GW&K Global Allocation Fund, Class I
Data updated: 2024-03-15
The net expense ratio is 0.91%: a 0.60% management fee plus 0.47% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $17K in broker commissions, 0.0462% of average net assets, and portfolio turnover was 36%.
MBESX Fees and Expenses
Annual operating expenses and sales charges of MBESX. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.47% |
| Gross expense ratio | 1.07% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.91% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MBESX Costs Over Time
On $10,000 invested in MBESX, assuming 5% a year before costs, total costs come to $599 over 5 years, cutting the return by 1.00% 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 0.91%) | $96 | $298 | $517 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $100 | $329 | $599 |
| Value after costs | $10,400 | $11,247 | $12,164 |
| Impact on return, per year | 1.00% | 1.00% | 1.00% |
MBESX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0462%
- Total broker commissions: $17K
- Bought from dealers (principal trades, not a cost): $20.9M
- Portfolio turnover (prospectus): 36%
- Securities on loan, average value: $1.6M
- Net income from securities lending: $6K (0.015% of average net assets)
MBESX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $7K | 42.57% |
| JEFFERIES LLC | $6K | 33.43% |
| CLSA AMERICAS, LLC | $3K | 15.90% |
| Merrill Lynch Pierce Fenner & Smith Inc | $946 | 5.59% |
| PERSHING LLC | $425 | 2.51% |
MBESX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MARKETAXESS CORPORATION | $3.2M | 20.54% |
| J.P. Morgan Securities LLC | $2.3M | 14.58% |
| TD SECURITIES (USA) LLC | $1.8M | 11.43% |
| BMO CAPITAL MARKETS CORP. | $1.5M | 9.69% |
| GOLDMAN SACHS & CO. LLC | $1.4M | 9.09% |
| BARCLAYS CAPITAL, INC. | $1.4M | 8.84% |
| DEUTSCHE BANK SECURITIES, INC. | $1.3M | 8.26% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $1.0M | 6.73% |
| PERSHING LLC | $862K | 5.57% |
| CitiGroup Global Markets Inc. | $814K | 5.26% |
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.