PMSIX Fees and Costs — Core Plus Bond Fund, Institutional Class
Data updated: 2026-09-25
The net expense ratio is 0.49%: a 0.42% management fee plus 0.15% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $11K in broker commissions, 0.0020% of average net assets, and portfolio turnover was 165%.
PMSIX Fees and Expenses
Annual operating expenses and sales charges of PMSIX. Prospectus, as of March 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.42% |
| 12b-1 fee | — |
| Other expenses | 0.15% |
| Gross expense ratio | 0.58% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.49% |
| 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 |
PMSIX Costs Over Time
On $10,000 invested in PMSIX, assuming 5% a year before costs, total costs come to $311 over 5 years, cutting the return by 0.52% 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 0.49%) | $51 | $161 | $281 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $52 | $170 | $311 |
| Value after costs | $10,448 | $11,406 | $12,452 |
| Impact on return, per year | 0.52% | 0.52% | 0.52% |
PMSIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0020%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $1.8B
- Portfolio turnover (prospectus): 165%
- Securities on loan, average value: $4.8M
- Net income from securities lending: $33K (0.006% of average net assets)
PMSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET CAPITAL | $4K | 41.33% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $4K | 39.65% |
| GOLDMAN SACHS CO. | $1K | 12.60% |
| MORGAN STANLEY & CO. LLC. | $688 | 6.41% |
PMSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES LLC | $698.7M | 44.43% |
| GOLDMAN SACHS CO. | $252.2M | 16.04% |
| J.P. MORGAN SECURITIES LLC | $223.8M | 14.23% |
| MORGAN STANLEY & CO. LLC. | $80.1M | 5.09% |
| CITIGROUP GLOBAL MARKETS | $78.9M | 5.02% |
| BARCLAYS CAPITAL INC. | $78.0M | 4.96% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $67.4M | 4.29% |
| BNP PARIBAS SECURITIES CORP | $38.4M | 2.44% |
| BMO CAPITAL MARKETS | $31.2M | 1.98% |
| DEUTSCHE BANK SECURITIES CORP. | $23.9M | 1.52% |
Core Plus Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PMSIX | Institutional Class | 0.49% | none |
| PBMPX | Class R-5 | 0.71% | none |
| PRBDX | Class A | 0.81% | 3.75% |
| PBMJX | Class J | 0.82% | none |
| PBMMX | Class R-3 | 1.02% | 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.