MMCFX Fees and Costs — AMG Veritas China Fund, Class N
Data updated: 2026-09-25
The net expense ratio is 1.14%: a 0.71% management fee plus 0.75% other expenses, less a 0.32% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $38K in broker commissions, 0.0874% of average net assets, and portfolio turnover was 84%.
MMCFX Fees and Expenses
Annual operating expenses and sales charges of MMCFX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.71% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.75% |
| Gross expense ratio | 1.46% |
| Fee waiver | −0.32% |
| Net expense ratio | 1.14% |
| 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 |
MMCFX Costs Over Time
On $10,000 invested in MMCFX, assuming 5% a year before costs, total costs come to $764 over 5 years, cutting the return by 1.29% 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 1.14%) | $120 | $373 | $645 |
| Trading costs (broker commissions) | $9 | $29 | $49 |
| Lost growth on money paid in costs | $0 | $20 | $70 |
| Total costs | $129 | $421 | $764 |
| Value after costs | $10,371 | $11,155 | $11,999 |
| Impact on return, per year | 1.29% | 1.29% | 1.29% |
MMCFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0874%
- Total broker commissions: $38K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 84%
- Securities lending: none during the year
MMCFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNP Paribas Securities Corp. | $9K | 25.24% |
| China International Capital Corporation Limited | $8K | 22.58% |
| CLSA AMERICAS, LLC | $5K | 14.45% |
| CICC US SECURITIES, INC. | $3K | 9.64% |
| MORGAN STANLEY & CO. LLC | $3K | 8.47% |
| NORTHERN TRUST SECURITIES, INC. | $2K | 4.65% |
| UBS Securities LLC | $1K | 4.19% |
| JEFFERIES LLC | $1K | 4.02% |
| CREDIT AGRICOLE SECURITIES (USA), INC. | $1K | 3.48% |
| MACQUARIE CAPITAL (USA), INC. | $1K | 3.28% |
AMG Veritas China Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MIMFX | Class I | 0.93% | — |
| MMCFX | Class N | 1.14% | — |
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.