MSHNX Fees and Costs — Permanence Portfolio, Class A
Data updated: 2026-08-21
The net expense ratio is 1.20%: a 0.65% management fee, a 0.25% 12b-1 fee plus 6.07% other expenses, less a 5.77% fee waiver. This share class carries a maximum front-end sales load of 5.25% and a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $1K in broker commissions, 0.0192% of average net assets, and portfolio turnover was 61%.
MSHNX Fees and Expenses
Annual operating expenses and sales charges of MSHNX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | 6.07% |
| Gross expense ratio | 6.97% |
| Fee waiver | −5.77% |
| Net expense ratio | 1.20% |
| Sales charges | |
|---|---|
| Max front load | 5.25% |
| 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 |
MSHNX Costs Over Time
On $10,000 invested in MSHNX, assuming 5% a year before costs, total costs come to $1,389 over 5 years, cutting the return by 2.39% 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 | $623 | $525 | $525 |
| Fund expenses (net expense ratio 1.20%) | $119 | $372 | $643 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $26 | $101 | $211 |
| Total costs | $771 | $1,004 | $1,389 |
| Value after costs | $9,729 | $10,572 | $11,373 |
| Impact on return, per year | 7.71% | 3.13% | 2.39% |
MSHNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0192%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $3.9M
- Portfolio turnover (prospectus): 61%
- Securities lending: none during the year
MSHNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $192 | 22.96% |
| RBC Capital Markets, LLC | $146 | 17.47% |
| Penserra Securities LLC | $105 | 12.56% |
| BofA Securities, Inc. | $97 | 11.67% |
| Goldman Sachs & Co. LLC | $79 | 9.50% |
| BTIG, LLC | $62 | 7.39% |
| Canaccord Genuity LLC | $41 | 4.90% |
| Morgan Stanley & Co. LLC | $40 | 4.78% |
| TD Securities (USA) LLC | $38 | 4.58% |
| J.P. Morgan Securities LLC | $35 | 4.21% |
MSHNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $3.7M | 94.79% |
| Goldman Sachs & Co. LLC | $180K | 4.60% |
| J.P. Morgan Securities LLC | $24K | 0.61% |
Permanence Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MSHPX | Class R6 | 0.80% | none |
| MSHMX | Class I | 0.85% | none |
| MSHNX | Class A | 1.20% | 5.25% |
| MSHOX | Class C | 1.95% | none |
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.