MSBAX Fees and Costs — MassMutual Strategic Bond Fund, Class A
Data updated: 2024-11-27
The net expense ratio is 1.06%: a 0.40% management fee, a 0.25% 12b-1 fee plus 0.41% other expenses. This share class carries a maximum front-end sales load of 4.25% and a deferred sales charge of up to 1.00%. In fiscal 2023 the fund paid $140K in broker commissions, 0.0338% of average net assets, and portfolio turnover was 175%.
MSBAX Fees and Expenses
Annual operating expenses and sales charges of MSBAX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.41% |
| Gross expense ratio | 1.06% |
| Fee waiver | — |
| Net expense ratio | 1.06% |
| Sales charges | |
|---|---|
| Max front load | 4.25% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MSBAX Costs Over Time
On $10,000 invested in MSBAX, assuming 5% a year before costs, total costs come to $1,196 over 5 years, cutting the return by 2.05% 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 | $524 | $425 | $425 |
| Fund expenses (net expense ratio 1.06%) | $107 | $332 | $576 |
| Trading costs (broker commissions) | $3 | $11 | $18 |
| Lost growth on money paid in costs | $21 | $84 | $177 |
| Total costs | $656 | $852 | $1,196 |
| Value after costs | $9,844 | $10,725 | $11,567 |
| Impact on return, per year | 6.56% | 2.64% | 2.05% |
MSBAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0338%
- Total broker commissions: $140K
- Bought from dealers (principal trades, not a cost): $5.3B
- Portfolio turnover (prospectus): 175%
- Securities on loan, average value: $4.6M
- Net income from securities lending: $32K (0.008% of average net assets)
MSBAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. | $112K | 79.82% |
| Morgan Stanley & Co. LLC | $27K | 19.22% |
| Bank of Montreal | $957 | 0.68% |
| Citigroup Inc. | $205 | 0.15% |
| Bank of America Merrill Lynch | $125 | 0.09% |
| JPMorgan Chase & Co. | $50 | 0.04% |
| Wells Fargo Securities, LLC | $2 | 0.00% |
MSBAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $2.3B | 44.64% |
| Goldman Sachs & Co. | $1.8B | 35.02% |
| JPMorgan Chase & Co. | $283.6M | 5.56% |
| Citigroup Inc. | $209.1M | 4.10% |
| Bank of America Merrill Lynch | $137.8M | 2.70% |
| Wells Fargo Securities, LLC | $124.6M | 2.44% |
| Morgan Stanley & Co. LLC | $104.8M | 2.06% |
| Bank of Montreal | $83.4M | 1.64% |
| Deutsche Bank AG | $50.1M | 0.98% |
| Nomura Securities Co., Ltd. | $43.8M | 0.86% |
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.