RAAIX Fees and Costs — Altegris/AACA Opportunistic Real Estate Fund, Class I
Data updated: 2025-12-01
The net expense ratio is 2.53% (2.70% before fee waivers). This share class carries a redemption fee of 1.00%. In fiscal 2024 the fund paid $184K in broker commissions, 0.1269% of average net assets, and portfolio turnover was 44%.
RAAIX Fees and Expenses
Annual operating expenses and sales charges of RAAIX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.41% |
| Gross expense ratio | 2.70% |
| Fee waiver | −0.17% |
| Net expense ratio | 2.53% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
RAAIX Costs Over Time
On $10,000 invested in RAAIX, assuming 5% a year before costs, total costs come to $1,608 over 5 years, cutting the return by 2.79% 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 2.53%) | $266 | $815 | $1,388 |
| Trading costs (broker commissions) | $13 | $41 | $70 |
| Lost growth on money paid in costs | $0 | $43 | $150 |
| Total costs | $279 | $898 | $1,608 |
| Value after costs | $10,221 | $10,678 | $11,155 |
| Impact on return, per year | 2.79% | 2.79% | 2.79% |
RAAIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1269%
- Total broker commissions: $184K
- Bought from dealers (principal trades, not a cost): $1.6M
- Portfolio turnover (prospectus): 44%
- Securities lending: none during the year
RAAIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $75K | 40.70% |
| WATERMILL INSTITUTIONAL TRADING LLC | $50K | 27.12% |
| STIFEL NICOLAUS | $46K | 24.91% |
| RAYMOND JAMES | $6K | 3.25% |
| ALEX.BROWN | $4K | 2.09% |
| COMPASS POINT | $4K | 1.93% |
RAAIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $1.6M | 100.00% |
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.