MSIOX Fees and Costs — Core Plus Fixed Income Portfolio, Class L
Data updated: 2024-02-28
The net expense ratio is 1.02%: a 0.38% management fee, a 0.50% 12b-1 fee plus 0.49% other expenses, less a 0.35% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $36K in broker commissions, 0.0062% of average net assets, and portfolio turnover was 431%.
MSIOX Fees and Expenses
Annual operating expenses and sales charges of MSIOX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.38% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.49% |
| Gross expense ratio | 1.37% |
| Fee waiver | −0.35% |
| Net expense ratio | 1.02% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
MSIOX Costs Over Time
On $10,000 invested in MSIOX, assuming 5% a year before costs, total costs come to $642 over 5 years, cutting the return by 1.08% 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 1.02%) | $107 | $334 | $579 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $108 | $353 | $642 |
| Value after costs | $10,392 | $11,224 | $12,121 |
| Impact on return, per year | 1.08% | 1.08% | 1.08% |
MSIOX 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): 0.0062%
- Total broker commissions: $36K
- Bought from dealers (principal trades, not a cost): $5.8B
- Portfolio turnover (prospectus): 431%
- Securities on loan, average value: $8.6M
- Net income from securities lending: $88K (0.015% of average net assets)
MSIOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $36K | 100.00% |
MSIOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $1.5B | 26.56% |
| Goldman Sachs & Co. LLC | $887.3M | 15.63% |
| Citigroup Global Markets Inc. | $795.6M | 14.02% |
| BNP Paribas Securities Corp. | $791.2M | 13.94% |
| BofA Securities, Inc. | $707.1M | 12.46% |
| State Street Bank and Trust Company | $668.8M | 11.78% |
| Barclays Capital Inc. | $122.5M | 2.16% |
| J.P. Morgan Securities LLC | $117.4M | 2.07% |
| BMO Capital Markets Corp. | $51.6M | 0.91% |
| Scotia Capital (USA) Inc. | $27.6M | 0.49% |
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.