MFTIX Fees and Costs — Altegris Managed Futures Strategy Fund, Class I
Data updated: 2020-02-20
The net expense ratio is 1.68% (2.09% before fee waivers). This share class carries a redemption fee of 1.00%. In fiscal 2019 the fund paid $20K in broker commissions, 0.0238% of average net assets, and portfolio turnover was 280%.
MFTIX Fees and Expenses
Annual operating expenses and sales charges of MFTIX. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.56% |
| Gross expense ratio | 2.09% |
| Fee waiver | −0.41% |
| Net expense ratio | 1.68% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
MFTIX Costs Over Time
On $10,000 invested in MFTIX, assuming 5% a year before costs, total costs come to $1,051 over 5 years, cutting the return by 1.79% 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 1.68%) | $176 | $546 | $940 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $28 | $97 |
| Total costs | $179 | $582 | $1,051 |
| Value after costs | $10,321 | $10,995 | $11,712 |
| Impact on return, per year | 1.79% | 1.79% | 1.79% |
MFTIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0238%
- Total broker commissions: $20K
- Bought from dealers (principal trades, not a cost): $21.4B
- Portfolio turnover (prospectus): 280%
- Securities lending: none during the year
MFTIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SG SECURITIES | $20K | 100.00% |
MFTIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA MERRILL LYNCH | $21.2B | 98.90% |
| JPMORGAN CHASE | $208.9M | 0.98% |
| SG SECURITIES | $12.2M | 0.06% |
| DEUTSCHE BANK | $10.4M | 0.05% |
| BNY MELLON | $4.0M | 0.02% |
| MORGAN STANLEY SMITH BARNEY | $119K | 0.00% |
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.