MEMNX Fees and Costs — Emerging Markets Debt Portfolio, Class I
Data updated: 2026-08-21
The net expense ratio is 1.10%: a 0.75% management fee plus 0.62% other expenses, less a 0.27% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $13K in broker commissions, 0.0118% of average net assets, and portfolio turnover was 119%.
MEMNX Fees and Expenses
Annual operating expenses and sales charges of MEMNX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.62% |
| Gross expense ratio | 1.37% |
| Fee waiver | −0.27% |
| Net expense ratio | 1.10% |
| 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 |
MEMNX Costs Over Time
On $10,000 invested in MEMNX, assuming 5% a year before costs, total costs come to $694 over 5 years, cutting the return by 1.17% 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 1.10%) | $116 | $360 | $623 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $117 | $382 | $694 |
| Value after costs | $10,383 | $11,194 | $12,069 |
| Impact on return, per year | 1.17% | 1.17% | 1.17% |
MEMNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0118%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): $369.6M
- Portfolio turnover (prospectus): 119%
- Securities lending: none during the year
MEMNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $13K | 100.00% |
MEMNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $133.6M | 43.56% |
| Jefferies LLC | $28.6M | 9.33% |
| J.P. Morgan Securities LLC | $26.2M | 8.55% |
| Barclays Capital Inc. | $24.4M | 7.95% |
| Citigroup Global Markets Inc. | $23.8M | 7.76% |
| Goldman Sachs & Co. LLC | $19.0M | 6.20% |
| BofA Securities, Inc. | $17.3M | 5.65% |
| HSBC Securities (USA) Inc. | $16.8M | 5.49% |
| Deutsche Bank Securities Inc. | $10.7M | 3.49% |
| MarketAxess Corporation | $6.2M | 2.03% |
Emerging Markets Debt Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MEMNX | Class I | 1.10% | — |
| MBDBX | Class II | 1.15% | — |
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.