MCQIX Fees and Costs — Global Concentrated Real Estate Portfolio, Class I
Data updated: 2021-05-27
The net expense ratio is 0.95%: a 0.75% management fee plus 6.51% other expenses, less a 6.31% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $1K in broker commissions, 0.0359% of average net assets, and portfolio turnover was 31%.
MCQIX Fees and Expenses
Annual operating expenses and sales charges of MCQIX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 6.51% |
| Gross expense ratio | 7.26% |
| Fee waiver | −6.31% |
| Net expense ratio | 0.95% |
| 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 | No |
MCQIX Costs Over Time
On $10,000 invested in MCQIX, assuming 5% a year before costs, total costs come to $617 over 5 years, cutting the return by 1.04% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $4 | $12 | $20 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $104 | $339 | $617 |
| Value after costs | $10,396 | $11,237 | $12,146 |
| Impact on return, per year | 1.04% | 1.04% | 1.04% |
MCQIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0359%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $1.5M
- Portfolio turnover (prospectus): 31%
- Securities on loan, average value: $19K
- Net income from securities lending: $163 (0.004% of average net assets)
MCQIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $320 | 27.75% |
| Credit Suisse Securities (USA) LLC | $184 | 15.97% |
| UBS Securities LLC | $178 | 15.47% |
| Goldman Sachs & Co. LLC | $173 | 15.05% |
| BofA Securities, Inc. | $67 | 5.83% |
| KeyBanc Capital Markets Inc. | $60 | 5.25% |
| Pershing LLC | $56 | 4.87% |
| Jefferies LLC | $53 | 4.61% |
| CLSA Americas, LLC | $33 | 2.83% |
| BTIG, LLC | $27 | 2.36% |
MCQIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.5M | 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.