MINNX Fees and Costs — MainStay MacKay International Equity Fund, Investor Class
Data updated: 2023-09-26
The net expense ratio is 1.54%: a 0.89% management fee, a 0.25% 12b-1 fee plus 0.58% other expenses, less a 0.18% fee waiver. This share class carries a maximum front-end sales load of 5.00%. In fiscal 2022 the fund paid $957K in broker commissions, 0.2662% of average net assets, and portfolio turnover was 94%.
MINNX Fees and Expenses
Annual operating expenses and sales charges of MINNX. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.89% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.72% |
| Fee waiver | −0.18% |
| Net expense ratio | 1.54% |
| Sales charges | |
|---|---|
| Max front load | 5.00% |
| 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 | No |
MINNX Costs Over Time
On $10,000 invested in MINNX, assuming 5% a year before costs, total costs come to $1,694 over 5 years, cutting the return by 2.95% 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 | $500 | $500 | $500 |
| Fund expenses (net expense ratio 1.54%) | $154 | $475 | $817 |
| Trading costs (broker commissions) | $27 | $82 | $141 |
| Lost growth on money paid in costs | $25 | $107 | $236 |
| Total costs | $705 | $1,164 | $1,694 |
| Value after costs | $9,795 | $10,412 | $11,069 |
| Impact on return, per year | 7.05% | 3.64% | 2.95% |
MINNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.2662%
- Total broker commissions: $957K
- Bought from dealers (principal trades, not a cost): $104.0M
- Portfolio turnover (prospectus): 94%
- Securities on loan, average value: $3.5M
- Net income from securities lending: $53K (0.015% of average net assets)
MINNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Pershing LLC | $103K | 13.68% |
| UBS Securities LLC | $102K | 13.59% |
| CITIC Securities International USA, LLC | $97K | 12.90% |
| Joh. Berenberg, Gossler & Co. KG | $95K | 12.65% |
| Citigroup Global Markets Inc. | $70K | 9.34% |
| Mizuho Securities USA LLC | $67K | 8.89% |
| Daiwa Capital Markets America Inc. | $63K | 8.31% |
| Morgan Stanley & Co. LLC | $62K | 8.21% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $55K | 7.33% |
| J.P. Morgan Securities LLC | $38K | 5.10% |
MINNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $104.0M | 100.00% |
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.