MNRIX Fees and Costs — Real Estate Series, Class I
Data updated: 2024-11-22
The net expense ratio is 0.85%: a 0.60% management fee plus 0.25% other expenses. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $162K in broker commissions, 0.0611% of average net assets, and portfolio turnover was 38%.
MNRIX Fees and Expenses
Annual operating expenses and sales charges of MNRIX. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.25% |
| Gross expense ratio | 0.85% |
| Fee waiver | — |
| Net expense ratio | 0.85% |
| 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 |
MNRIX Costs Over Time
On $10,000 invested in MNRIX, assuming 5% a year before costs, total costs come to $571 over 5 years, cutting the return by 0.96% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $6 | $20 | $35 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $96 | $314 | $571 |
| Value after costs | $10,404 | $11,263 | $12,192 |
| Impact on return, per year | 0.96% | 0.96% | 0.96% |
MNRIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0611%
- Total broker commissions: $162K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
MNRIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $32K | 21.21% |
| BARCLAYS CAPITAL, INC. | $27K | 17.56% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $23K | 15.18% |
| J.P. Morgan Securities LLC | $21K | 14.08% |
| EVERCORE GROUP LLC | $12K | 8.15% |
| BMO CAPITAL MARKETS CORP. | $12K | 7.60% |
| LIQUIDNET, INC. | $9K | 5.65% |
| PIPER SANDLER & CO. | $6K | 4.20% |
| Raymond James & Associates, Inc. | $5K | 3.44% |
| UBS Securities LLC | $4K | 2.93% |
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.