MSAVX Fees and Costs — Invesco American Value Fund, Class A
Data updated: 2023-04-03
The net expense ratio is 1.11%: a 0.65% management fee, a 0.25% 12b-1 fee plus 0.21% other expenses. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2022 the fund paid $2.2M in broker commissions, 0.1158% of average net assets, and portfolio turnover was 117%.
MSAVX Fees and Expenses
Annual operating expenses and sales charges of MSAVX. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.11% |
| Fee waiver | — |
| Net expense ratio | 1.11% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MSAVX Costs Over Time
On $10,000 invested in MSAVX, assuming 5% a year before costs, total costs come to $1,423 over 5 years, cutting the return by 2.45% 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 |
| Sales charges | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.11%) | $110 | $343 | $593 |
| Trading costs (broker commissions) | $11 | $36 | $62 |
| Lost growth on money paid in costs | $28 | $105 | $218 |
| Total costs | $699 | $1,034 | $1,423 |
| Value after costs | $9,801 | $10,542 | $11,340 |
| Impact on return, per year | 6.99% | 3.22% | 2.45% |
MSAVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.1158%
- Total broker commissions: $2.2M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 117%
- Securities on loan, average value: $71.1M
- Net income from securities lending: $104K (0.005% of average net assets)
MSAVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $400K | 23.44% |
| SANFORD C. BERNSTEIN & CO., LLC | $368K | 21.57% |
| J.P. MORGAN SECURITIES LLC | $287K | 16.85% |
| MORGAN STANLEY & CO. LLC | $133K | 7.77% |
| UBS SECURITIES LLC | $115K | 6.73% |
| INSTINET, LLC | $99K | 5.80% |
| CREDIT SUISSE SECURITIES (USA) LLC | $92K | 5.40% |
| LUMINEX TRADING & ANALYTICS LLC | $79K | 4.61% |
| GOLDMAN, SACHS & CO. | $69K | 4.06% |
| LIQUIDNET, INC. | $64K | 3.77% |
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.