SAELX Fees and Costs — SA Emerging Markets Value Fund, Select Share Class
Data updated: 2026-09-03
The net expense ratio is 1.04%: a 0.81% management fee, a 0.05% 12b-1 fee plus 0.42% other expenses, less a 0.24% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $33K in broker commissions, 0.0148% of average net assets, and portfolio turnover was 17%.
SAELX Fees and Expenses
Annual operating expenses and sales charges of SAELX. Prospectus, as of October 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.81% |
| 12b-1 fee | 0.05% |
| Other expenses | 0.42% |
| Gross expense ratio | 1.28% |
| Fee waiver | −0.24% |
| Net expense ratio | 1.04% |
| 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 |
SAELX Costs Over Time
On $10,000 invested in SAELX, assuming 5% a year before costs, total costs come to $659 over 5 years, cutting the return by 1.11% 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 1.04%) | $109 | $341 | $590 |
| Trading costs (broker commissions) | $2 | $5 | $8 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $111 | $362 | $659 |
| Value after costs | $10,389 | $11,214 | $12,104 |
| Impact on return, per year | 1.11% | 1.11% | 1.11% |
SAELX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0148%
- Total broker commissions: $33K
- Bought from dealers (principal trades, not a cost): $38.0M
- Portfolio turnover (prospectus): 17%
- Securities on loan, average value: $6.5M
- Net income from securities lending: $71K (0.032% of average net assets)
SAELX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $8K | 25.86% |
| Nomura Securities International, Inc. | $8K | 25.08% |
| UBS Securities LLC | $6K | 19.29% |
| Virtu Americas LLC | $2K | 6.69% |
| Citigroup Global Markets Inc. | $2K | 5.75% |
| Goldman Sachs & Co. LLC | $2K | 5.27% |
| Eurobank Ergasias Services and Holdings S.A. | $1K | 4.34% |
| ICICI Securities Inc. | $1K | 3.38% |
| Arqaam Capital Limited | $798 | 2.61% |
| Mirae Asset Securities (USA) Inc. | $534 | 1.74% |
SAELX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $37.8M | 100.00% |
| Nomura Securities International, Inc. | $0 | 0.00% |
SA Emerging Markets Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SAELX | Select Share Class | 1.04% | none |
| SAEMX | SA Emerging Markets Value Fund | 1.04% | 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.