MCQJX Fees and Costs — Global Concentrated Real Estate Portfolio, Class IS
Data updated: 2021-05-27
The net expense ratio is 0.90%: a 0.75% management fee plus 33.78% other expenses, less a 33.63% 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%.
MCQJX Fees and Expenses
Annual operating expenses and sales charges of MCQJX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 33.78% |
| Gross expense ratio | 34.53% |
| Fee waiver | −33.63% |
| Net expense ratio | 0.90% |
| 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 |
MCQJX Costs Over Time
On $10,000 invested in MCQJX, assuming 5% a year before costs, total costs come to $586 over 5 years, cutting the return by 0.98% 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 0.90%) | $94 | $295 | $512 |
| Trading costs (broker commissions) | $4 | $12 | $20 |
| Lost growth on money paid in costs | $0 | $15 | $54 |
| Total costs | $98 | $322 | $586 |
| Value after costs | $10,402 | $11,254 | $12,177 |
| Impact on return, per year | 0.98% | 0.98% | 0.98% |
MCQJX 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)
MCQJX 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% |
MCQJX 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.