MMITX Fees and Costs — Multi-Manager International Equity Fund, Class P
Data updated: 2026-09-22
The net expense ratio is 0.57%: a 0.60% management fee plus 0.12% other expenses, less a 0.15% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $812K in broker commissions, 0.0508% of average net assets, and portfolio turnover was 43%.
MMITX Fees and Expenses
Annual operating expenses and sales charges of MMITX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | — |
| Other expenses | 0.12% |
| Gross expense ratio | 0.72% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.57% |
| 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 | No |
MMITX Costs Over Time
On $10,000 invested in MMITX, assuming 5% a year before costs, total costs come to $391 over 5 years, cutting the return by 0.65% 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 0.57%) | $60 | $187 | $326 |
| Trading costs (broker commissions) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $10 | $36 |
| Total costs | $65 | $214 | $391 |
| Value after costs | $10,435 | $11,362 | $12,372 |
| Impact on return, per year | 0.65% | 0.65% | 0.65% |
MMITX 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): 0.0508%
- Total broker commissions: $812K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 43%
- Securities lending: none during the year
MMITX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $108K | 17.42% |
| UBS Securities LLC | $78K | 12.47% |
| SG Americas Securities, LLC | $74K | 11.82% |
| Morgan Stanley & Co. LLC | $72K | 11.49% |
| J.P. Morgan Securities LLC | $62K | 10.02% |
| Jefferies LLC | $62K | 9.99% |
| Nomura Securities International, Inc. | $51K | 8.27% |
| Citigroup Global Markets Inc. | $43K | 6.85% |
| Barclays Capital Inc. | $41K | 6.56% |
| BNP Paribas Securities Corp. | $32K | 5.12% |
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.