MSDZX Fees and Costs — Mercer Short Duration Fixed Income Fund
Data updated: 2026-08-21
The net expense ratio is 0.70% (1.37% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0022% of average net assets, and portfolio turnover was 166%.
MSDZX Fees and Expenses
Annual operating expenses and sales charges of MSDZX. Prospectus, as of July 23, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.37% |
| Fee waiver | −0.67% |
| Net expense ratio | 0.70% |
| 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 |
MSDZX Costs Over Time
On $10,000 invested in MSDZX, assuming 5% a year before costs, total costs come to $442 over 5 years, cutting the return by 0.74% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $242 | $442 |
| Value after costs | $10,426 | $11,334 | $12,321 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
MSDZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0022%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $253.4M
- Portfolio turnover (prospectus): 166%
- Securities on loan, average value: $280K
- Net income from securities lending: $1K (0.002% of average net assets)
MSDZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $2K | 100.00% |
MSDZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Deutsche Bank Securities Inc. | $28.9M | 15.41% |
| Wells Fargo Securities, LLC | $24.5M | 13.07% |
| BMO Capital Markets Corp. | $21.4M | 11.42% |
| Nomura Securities International, Inc. | $19.5M | 10.38% |
| BofA Securities, Inc. | $19.3M | 10.32% |
| Morgan Stanley & Co. LLC | $17.8M | 9.49% |
| Goldman Sachs & Co. LLC | $17.0M | 9.05% |
| J.P. Morgan Securities LLC | $13.8M | 7.34% |
| Citigroup Global Markets Inc. | $13.7M | 7.29% |
| Barclays Capital Inc. | $11.7M | 6.25% |
Mercer Short Duration Fixed Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MSDYX | Class Y-3 | 0.20% | — |
| MSDWX | C000246252 | 0.35% | — |
| MSDBX | Class I | 0.45% | — |
| MSDZX | C000246250 | 0.70% | — |
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.