MSMFX Fees and Costs — Discovery Portfolio, Class C
Data updated: 2026-08-21
The net expense ratio is 1.78%: a 0.50% management fee, a 1.00% 12b-1 fee plus 0.28% other expenses. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $839K in broker commissions, 0.0762% of average net assets, and portfolio turnover was 88%.
MSMFX Fees and Expenses
Annual operating expenses and sales charges of MSMFX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.28% |
| Gross expense ratio | 1.78% |
| Fee waiver | — |
| Net expense ratio | 1.78% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MSMFX Costs Over Time
On $10,000 invested in MSMFX, assuming 5% a year before costs, total costs come to $1,141 over 5 years, cutting the return by 1.95% 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 | $103 | $0 | $0 |
| Fund expenses (net expense ratio 1.78%) | $187 | $578 | $993 |
| Trading costs (broker commissions) | $8 | $25 | $43 |
| Lost growth on money paid in costs | $0 | $30 | $106 |
| Total costs | $298 | $633 | $1,141 |
| Value after costs | $10,202 | $10,944 | $11,621 |
| Impact on return, per year | 2.98% | 1.95% | 1.95% |
MSMFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0762%
- Total broker commissions: $839K
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 88%
- Securities on loan, average value: $12.2M
- Net income from securities lending: $340K (0.031% of average net assets)
MSMFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $96K | 15.57% |
| Goldman Sachs & Co. LLC | $82K | 13.38% |
| J.P. Morgan Securities LLC | $76K | 12.45% |
| Jefferies LLC | $75K | 12.18% |
| UBS Securities LLC | $56K | 9.12% |
| Barclays Capital Inc. | $56K | 9.05% |
| Citigroup Global Markets Inc. | $48K | 7.88% |
| BofA Securities, Inc. | $48K | 7.75% |
| TD Securities (USA) LLC | $44K | 7.16% |
| BTIG, LLC | $34K | 5.46% |
MSMFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.0B | 96.28% |
| J.P. Morgan Securities LLC | $20.8M | 1.95% |
| Goldman Sachs & Co. LLC | $18.9M | 1.78% |
Discovery Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MMCGX | Class R6 | 0.63% | none |
| MPEGX | Class I | 0.75% | none |
| MACGX | Class A | 1.03% | 5.25% |
| MSKLX | Class L | 1.56% | none |
| MSMFX | Class C | 1.78% | 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.