MICGX Fees and Costs — Emerging Markets Great Consumer Fund, Class I
Data updated: 2023-07-12
The net expense ratio is 1.15%: a 0.99% management fee plus 0.20% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $1.5M in broker commissions, 0.2581% of average net assets, and portfolio turnover was 71%.
MICGX Fees and Expenses
Annual operating expenses and sales charges of MICGX. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.19% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.15% |
| 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 | Yes |
MICGX Costs Over Time
On $10,000 invested in MICGX, assuming 5% a year before costs, total costs come to $874 over 5 years, cutting the return by 1.48% 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 1.15%) | $121 | $375 | $648 |
| Trading costs (broker commissions) | $27 | $84 | $145 |
| Lost growth on money paid in costs | $0 | $23 | $80 |
| Total costs | $148 | $482 | $874 |
| Value after costs | $10,352 | $11,094 | $11,889 |
| Impact on return, per year | 1.48% | 1.48% | 1.48% |
MICGX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.2581%
- Total broker commissions: $1.5M
- Bought from dealers (principal trades, not a cost): $5.2M
- Portfolio turnover (prospectus): 71%
- Securities lending: none during the year
MICGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $175K | 16.81% |
| Citigroup Global Markets Inc. | $149K | 14.37% |
| UBS Securities LLC | $148K | 14.24% |
| HSBC Securities (USA) Inc. | $105K | 10.11% |
| Morgan Stanley & Co. LLC | $105K | 10.06% |
| Goldman Sachs & Co. LLC | $101K | 9.68% |
| Jefferies LLC | $69K | 6.61% |
| MIRAE ASSET SECURITIES (HONG KONG) LTD. | $67K | 6.46% |
| CLSA Americas, LLC | $66K | 6.36% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $55K | 5.31% |
MICGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| XTELLUS CAPITAL PARTNERS, INC. | $2.3M | 45.10% |
| Liquidnet, Inc. | $2.0M | 39.33% |
| LIQUIDITY FINANCE LLP | $803K | 15.58% |
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.