MFTOX Fees and Costs — Altegris Managed Futures Strategy Fund, Class O
Data updated: 2020-02-20
The net expense ratio is 1.93% (2.34% 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%.
MFTOX Fees and Expenses
Annual operating expenses and sales charges of MFTOX. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.56% |
| Gross expense ratio | 2.34% |
| Fee waiver | −0.41% |
| Net expense ratio | 1.93% |
| 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 |
MFTOX Costs Over Time
On $10,000 invested in MFTOX, assuming 5% a year before costs, total costs come to $1,199 over 5 years, cutting the return by 2.05% 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 1.93%) | $203 | $626 | $1,075 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $32 | $111 |
| Total costs | $205 | $665 | $1,199 |
| Value after costs | $10,295 | $10,911 | $11,564 |
| Impact on return, per year | 2.05% | 2.05% | 2.05% |
MFTOX 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
MFTOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SG SECURITIES | $20K | 100.00% |
MFTOX 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.