NMFIX Fees and Costs — Multi-Manager Global Listed Infrastructure Fund
Data updated: 2026-08-28
The net expense ratio is 0.97%: a 0.90% management fee plus 0.11% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $311K in broker commissions, 0.0333% of average net assets, and portfolio turnover was 57%.
NMFIX Fees and Expenses
Annual operating expenses and sales charges of NMFIX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | — |
| Other expenses | 0.11% |
| Gross expense ratio | 1.02% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.97% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
NMFIX Costs Over Time
On $10,000 invested in NMFIX, assuming 5% a year before costs, total costs come to $628 over 5 years, cutting the return by 1.05% 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 0.97%) | $102 | $318 | $551 |
| Trading costs (broker commissions) | $3 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $105 | $345 | $628 |
| Value after costs | $10,395 | $11,231 | $12,135 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
NMFIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0333%
- Total broker commissions: $311K
- Bought from dealers (principal trades, not a cost): $656.7M
- Portfolio turnover (prospectus): 57%
- Securities on loan, average value: $6.1M
- Net income from securities lending: $125K (0.013% of average net assets)
NMFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Rbc Dominion Securities Inc. | $44K | 24.98% |
| JEFFERIES LLC. | $25K | 13.83% |
| J.P. MORGAN SECURITIES PLC | $20K | 11.07% |
| Virtu Europe Trading Limited | $15K | 8.62% |
| RBC EUROPE LIMITED | $15K | 8.48% |
| Bank of America, National Association | $13K | 7.26% |
| TD SECURITIES (USA) LLC | $13K | 7.14% |
| Bank of Montreal | $12K | 6.59% |
| UBS AG | $11K | 6.02% |
| CITIGROUP GLOBAL MARKETS LIMITED | $11K | 6.02% |
NMFIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $639.7M | 97.40% |
| BMO Nesbitt Burns Inc. | $8.3M | 1.27% |
| JPMorgan Chase Bank, National Association | $4.6M | 0.70% |
| MORGAN STANLEY & CO. LLC | $1.7M | 0.26% |
| CITADEL ADVISORS LLC | $1.1M | 0.16% |
| Nomura Securities International, Inc. | $705K | 0.11% |
| MUFG SECURITIES AMERICAS INC. | $368K | 0.06% |
| Wells Fargo Bank, National Association | $109K | 0.02% |
| BARCLAYS BANK PLC | $88K | 0.01% |
| BNP PARIBAS | $74K | 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.