MEAPX Fees and Costs — Emerging Markets Fixed Income Opportunities Portfolio, Class A
Data updated: 2022-05-26
The net expense ratio is 1.20%: a 0.75% management fee, a 0.25% 12b-1 fee plus 1.06% other expenses, less a 0.86% fee waiver. This share class carries a maximum front-end sales load of 3.25% and a redemption fee of 2.00%. Portfolio turnover was 64%.
MEAPX Fees and Expenses
Annual operating expenses and sales charges of MEAPX. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.06% |
| Gross expense ratio | 2.06% |
| Fee waiver | −0.86% |
| Net expense ratio | 1.20% |
| Sales charges | |
|---|---|
| Max front load | 3.25% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MEAPX Costs Over Time
On $10,000 invested in MEAPX, assuming 5% a year before costs, total costs come to $1,138 over 5 years, cutting the return by 1.94% 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 |
| Sales charges | $325 | $325 | $325 |
| Fund expenses (net expense ratio 1.20%) | $122 | $380 | $657 |
| Lost growth on money paid in costs | $16 | $70 | $156 |
| Total costs | $463 | $775 | $1,138 |
| Value after costs | $10,037 | $10,802 | $11,625 |
| Impact on return, per year | 4.63% | 2.40% | 1.94% |
MEAPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $81.9M
- Portfolio turnover (prospectus): 64%
- Securities lending: none during the year
MEAPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $35.6M | 49.02% |
| Citigroup Global Markets Inc. | $6.8M | 9.33% |
| HSBC Securities (USA) Inc. | $6.0M | 8.23% |
| Jefferies LLC | $5.5M | 7.62% |
| J.P. Morgan Securities LLC | $4.8M | 6.57% |
| BofA Securities, Inc. | $4.2M | 5.82% |
| Barclays Capital Inc. | $3.3M | 4.59% |
| Goldman Sachs & Co. LLC | $2.6M | 3.58% |
| Standard Chartered Securities (North America) LLC | $2.1M | 2.84% |
| BNP Paribas Securities Corp. | $1.7M | 2.41% |
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.