MCMAX Fees and Costs — AMG Managers Cadence Mid Cap Fund, Class N
Data updated: 2021-04-26
The net expense ratio is 1.07%: a 0.45% management fee, a 0.25% 12b-1 fee plus 0.42% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $62K in broker commissions, 0.0674% of average net assets, and portfolio turnover was 57%.
MCMAX Fees and Expenses
Annual operating expenses and sales charges of MCMAX. Prospectus, as of September 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.42% |
| Gross expense ratio | 1.12% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.07% |
| 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 | Yes |
MCMAX Costs Over Time
On $10,000 invested in MCMAX, assuming 5% a year before costs, total costs come to $709 over 5 years, cutting the return by 1.19% 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 1.07%) | $112 | $350 | $606 |
| Trading costs (broker commissions) | $7 | $22 | $38 |
| Lost growth on money paid in costs | $0 | $18 | $65 |
| Total costs | $119 | $391 | $709 |
| Value after costs | $10,381 | $11,186 | $12,053 |
| Impact on return, per year | 1.19% | 1.19% | 1.19% |
MCMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0674%
- Total broker commissions: $62K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 57%
- Securities on loan, average value: $6.6M
- Net income from securities lending: $9K (0.010% of average net assets)
MCMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Abel Noser, LLC | $30K | 48.78% |
| OPPENHEIMER & CO. INC. | $7K | 10.92% |
| VIRTU AMERICAS LLC | $6K | 9.19% |
| LIQUIDNET, INC. | $5K | 7.55% |
| Seaport Global Securities LLC | $4K | 7.00% |
| EVERCORE GROUP L.L.C. | $3K | 5.19% |
| SUNTRUST ROBINSON HUMPHREY, INC. | $3K | 4.08% |
| Canaccord Genuity LLC | $2K | 3.25% |
| WEDBUSH SECURITIES INC. | $2K | 2.86% |
| INSTINET, LLC | $729 | 1.18% |
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.