MMASX Fees and Costs — AMG FQ Global Risk-Balanced Fund, Class I
Data updated: 2022-09-26
The net expense ratio is 1.26% (1.40% before fee waivers). There are no sales loads or redemption fees. In fiscal 2021 the fund paid $25K in broker commissions, 0.0629% of average net assets, and portfolio turnover was 35%.
MMASX Fees and Expenses
Annual operating expenses and sales charges of MMASX. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.40% |
| Fee waiver | −0.14% |
| Net expense ratio | 1.26% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
MMASX Costs Over Time
On $10,000 invested in MMASX, assuming 5% a year before costs, total costs come to $822 over 5 years, cutting the return by 1.39% 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 1.26%) | $132 | $411 | $711 |
| Trading costs (broker commissions) | $7 | $21 | $35 |
| Lost growth on money paid in costs | $0 | $21 | $76 |
| Total costs | $139 | $453 | $822 |
| Value after costs | $10,361 | $11,123 | $11,941 |
| Impact on return, per year | 1.39% | 1.39% | 1.39% |
MMASX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0629%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): $38.0M
- Portfolio turnover (prospectus): 35%
- Securities on loan, average value: $5.8M
- Net income from securities lending: $47K (0.122% of average net assets)
MMASX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $8K | 32.09% |
| MORGAN STANLEY & CO. LLC | $6K | 26.29% |
| INSTINET, LLC | $4K | 18.25% |
| J.P. MORGAN SECURITIES LLC | $4K | 17.58% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $1K | 5.80% |
MMASX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $17.9M | 47.05% |
| BARCLAYS CAPITAL, INC. | $10.9M | 28.74% |
| MORGAN STANLEY & CO. LLC | $9.2M | 24.21% |
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.