MSEJX Fees and Costs — MM Equity Asset Fund, Class I
Data updated: 2025-02-28
The net expense ratio is 0.28%: a 0.18% management fee plus 0.10% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $36K in broker commissions, 0.0118% of average net assets, and portfolio turnover was 27%.
MSEJX Fees and Expenses
Annual operating expenses and sales charges of MSEJX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.18% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.10% |
| Gross expense ratio | 0.28% |
| Fee waiver | — |
| Net expense ratio | 0.28% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MSEJX Costs Over Time
On $10,000 invested in MSEJX, assuming 5% a year before costs, total costs come to $185 over 5 years, cutting the return by 0.31% 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 0.28%) | $29 | $92 | $161 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $31 | $101 | $185 |
| Value after costs | $10,469 | $11,475 | $12,578 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
MSEJX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0118%
- Total broker commissions: $36K
- Bought from dealers (principal trades, not a cost): $784.1M
- Portfolio turnover (prospectus): 27%
- Securities on loan, average value: $28K
- Net income from securities lending: $49 (0.000% of average net assets)
MSEJX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Royal Bank of Canada | $8K | 28.27% |
| Morgan Stanley & Co. LLC | $3K | 11.70% |
| Goldman Sachs & Co. | $3K | 10.62% |
| Bank of America Merrill Lynch | $3K | 9.62% |
| UBS Group AG | $3K | 9.38% |
| Barclays Bank | $3K | 8.67% |
| Bank of Montreal | $2K | 6.55% |
| Cowen and Company, LLC | $2K | 6.18% |
| Instinet, LLC | $1K | 4.87% |
| Evercore Group L.L.C. | $1K | 4.14% |
MSEJX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $783.9M | 99.98% |
| Tender Offer | $95K | 0.01% |
| Citigroup Inc. | $63K | 0.01% |
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.