MLNSX Fees and Costs — Global Concentrated Portfolio, Class R6
Data updated: 2026-08-21
The net expense ratio is 0.95%: a 0.75% management fee plus 6.30% other expenses, less a 6.10% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $116K in broker commissions, 0.0384% of average net assets, and portfolio turnover was 51%.
MLNSX Fees and Expenses
Annual operating expenses and sales charges of MLNSX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 6.30% |
| Gross expense ratio | 7.05% |
| Fee waiver | −6.10% |
| Net expense ratio | 0.95% |
| 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 | No |
MLNSX Costs Over Time
On $10,000 invested in MLNSX, assuming 5% a year before costs, total costs come to $618 over 5 years, cutting the return by 1.04% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $104 | $340 | $618 |
| Value after costs | $10,396 | $11,236 | $12,144 |
| Impact on return, per year | 1.04% | 1.04% | 1.04% |
MLNSX 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): 0.0384%
- Total broker commissions: $116K
- Bought from dealers (principal trades, not a cost): $245.6M
- Portfolio turnover (prospectus): 51%
- Securities on loan, average value: $1.1M
- Net income from securities lending: $22K (0.007% of average net assets)
MLNSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $34K | 30.40% |
| Cantor Fitzgerald & Co. | $31K | 27.44% |
| Citigroup Global Markets Inc. | $26K | 22.77% |
| Jefferies LLC | $6K | 4.91% |
| UBS Securities LLC | $5K | 4.23% |
| RBC Capital Markets, LLC | $3K | 2.90% |
| HSBC Securities (USA) Inc. | $3K | 2.57% |
| TD Securities (USA) LLC | $2K | 1.66% |
| J.P. Morgan Securities LLC | $2K | 1.57% |
| BMO Capital Markets Corp. | $2K | 1.56% |
MLNSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $227.9M | 92.76% |
| Jane Street Execution Services, LLC | $13.1M | 5.32% |
| Citadel Securities LLC | $4.4M | 1.80% |
| BofA Securities, Inc. | $303K | 0.12% |
Global Concentrated Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MLNSX | Class R6 | 0.95% | none |
| MLNIX | Class I | 1.00% | none |
| MLNAX | Class A | 1.33% | 5.25% |
| MLNCX | Class C | 2.08% | none |
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.