MRGEX Fees and Costs — Emerging Markets Portfolio, Class IR
Data updated: 2026-08-21
The net expense ratio is 0.95%: a 0.75% management fee plus 16.91% other expenses, less a 16.71% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2025 the fund paid $833K in broker commissions, 0.2303% of average net assets, and portfolio turnover was 30%.
MRGEX Fees and Expenses
Annual operating expenses and sales charges of MRGEX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 16.91% |
| Gross expense ratio | 17.66% |
| Fee waiver | −16.71% |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MRGEX Costs Over Time
On $10,000 invested in MRGEX, assuming 5% a year before costs, total costs come to $736 over 5 years, cutting the return by 1.24% 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 0.95%) | $100 | $311 | $538 |
| Trading costs (broker commissions) | $24 | $75 | $130 |
| Lost growth on money paid in costs | $0 | $19 | $68 |
| Total costs | $124 | $405 | $736 |
| Value after costs | $10,376 | $11,171 | $12,027 |
| Impact on return, per year | 1.24% | 1.24% | 1.24% |
MRGEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2303%
- Total broker commissions: $833K
- Bought from dealers (principal trades, not a cost): $891.4M
- Portfolio turnover (prospectus): 30%
- Securities on loan, average value: $3.4M
- Net income from securities lending: $29K (0.008% of average net assets)
MRGEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $437K | 55.93% |
| HSBC Securities (USA) Inc. | $106K | 13.58% |
| Agora Corretora de Titulos e Valores Mobiliarios S.A. | $45K | 5.73% |
| Citigroup Global Markets Inc. | $42K | 5.38% |
| Jefferies LLC | $41K | 5.22% |
| UBS Securities LLC | $35K | 4.49% |
| J.P. Morgan Securities LLC | $33K | 4.18% |
| Macquarie Capital (USA) Inc. | $20K | 2.52% |
| BofA Securities, Inc. | $12K | 1.59% |
| BTG Pactual US Capital, LLC | $11K | 1.36% |
MRGEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $891.4M | 100.00% |
Emerging Markets Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MMMPX | Class R6 | 0.95% | none |
| MRGEX | Class IR | 0.95% | none |
| MGEMX | Class I | 0.99% | none |
| MMKBX | Class A | 1.35% | 5.25% |
| MSELX | Class L | 1.85% | none |
| MSEPX | Class C | 2.10% | none |
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.