MSEAX Fees and Costs — MainStay MacKay International Equity Fund, Class A
Data updated: 2023-09-26
The net expense ratio is 1.20%: a 0.89% management fee, a 0.25% 12b-1 fee plus 0.24% other expenses, less a 0.18% fee waiver. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2022 the fund paid $957K in broker commissions, 0.2662% of average net assets, and portfolio turnover was 94%.
MSEAX Fees and Expenses
Annual operating expenses and sales charges of MSEAX. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.89% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.24% |
| Gross expense ratio | 1.38% |
| Fee waiver | −0.18% |
| Net expense ratio | 1.20% |
| 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 |
MSEAX Costs Over Time
On $10,000 invested in MSEAX, assuming 5% a year before costs, total costs come to $1,561 over 5 years, cutting the return by 2.70% 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 1.20%) | $119 | $370 | $638 |
| Trading costs (broker commissions) | $26 | $82 | $142 |
| Lost growth on money paid in costs | $28 | $109 | $231 |
| Total costs | $723 | $1,111 | $1,561 |
| Value after costs | $9,777 | $10,465 | $11,202 |
| Impact on return, per year | 7.23% | 3.47% | 2.70% |
MSEAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.2662%
- Total broker commissions: $957K
- Bought from dealers (principal trades, not a cost): $104.0M
- Portfolio turnover (prospectus): 94%
- Securities on loan, average value: $3.5M
- Net income from securities lending: $53K (0.015% of average net assets)
MSEAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Pershing LLC | $103K | 13.68% |
| UBS Securities LLC | $102K | 13.59% |
| CITIC Securities International USA, LLC | $97K | 12.90% |
| Joh. Berenberg, Gossler & Co. KG | $95K | 12.65% |
| Citigroup Global Markets Inc. | $70K | 9.34% |
| Mizuho Securities USA LLC | $67K | 8.89% |
| Daiwa Capital Markets America Inc. | $63K | 8.31% |
| Morgan Stanley & Co. LLC | $62K | 8.21% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $55K | 7.33% |
| J.P. Morgan Securities LLC | $38K | 5.10% |
MSEAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $104.0M | 100.00% |
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.