MMAAX Fees and Costs — MassMutual Growth Opportunities Fund, Class A
Data updated: 2024-11-27
The net expense ratio is 1.35%: a 0.71% management fee, a 0.25% 12b-1 fee plus 0.39% other expenses. This share class carries a maximum front-end sales load of 5.50% and a deferred sales charge of up to 1.00%. In fiscal 2023 the fund paid $69K in broker commissions, 0.0323% of average net assets, and portfolio turnover was 29%.
MMAAX Fees and Expenses
Annual operating expenses and sales charges of MMAAX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.71% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.35% |
| Fee waiver | — |
| Net expense ratio | 1.35% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MMAAX Costs Over Time
On $10,000 invested in MMAAX, assuming 5% a year before costs, total costs come to $1,513 over 5 years, cutting the return by 2.62% 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 | $648 | $550 | $550 |
| Fund expenses (net expense ratio 1.35%) | $134 | $416 | $719 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $27 | $108 | $227 |
| Total costs | $813 | $1,084 | $1,513 |
| Value after costs | $9,687 | $10,492 | $11,250 |
| Impact on return, per year | 8.13% | 3.39% | 2.62% |
MMAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0323%
- Total broker commissions: $69K
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 29%
- Securities on loan, average value: $2.5M
- Net income from securities lending: $4K (0.002% of average net assets)
MMAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $42K | 61.50% |
| Piper Jaffray & Co. | $12K | 18.00% |
| National Financial Services LLC | $5K | 7.26% |
| Morgan Stanley & Co. LLC | $5K | 6.99% |
| Cantor Fitzgerald & Co. | $1K | 2.05% |
| Bank of America Merrill Lynch | $746 | 1.09% |
| JPMorgan Chase & Co. | $653 | 0.95% |
| Barclays Bank | $556 | 0.81% |
| UBS Group AG | $553 | 0.81% |
| Drexel Hamilton, LLC | $370 | 0.54% |
MMAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.3B | 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.