SAOTX Fees and Costs — Overlay A Portfolio, Class 2
Data updated: 2026-08-26
The net expense ratio is 1.09% (1.39% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $102K in broker commissions, 0.0230% of average net assets, and portfolio turnover was 28%.
SAOTX Fees and Expenses
Annual operating expenses and sales charges of SAOTX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.19% |
| Gross expense ratio | 1.39% |
| Fee waiver | −0.30% |
| Net expense ratio | 1.09% |
| 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 |
SAOTX Costs Over Time
On $10,000 invested in SAOTX, assuming 5% a year before costs, total costs come to $695 over 5 years, cutting the return by 1.17% 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 1.09%) | $114 | $357 | $618 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $117 | $382 | $695 |
| Value after costs | $10,383 | $11,194 | $12,068 |
| Impact on return, per year | 1.17% | 1.17% | 1.17% |
SAOTX 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): 0.0230%
- Total broker commissions: $102K
- Bought from dealers (principal trades, not a cost): $405.6M
- Portfolio turnover (prospectus): 28%
- Securities on loan, average value: $215K
- Net income from securities lending: $864 (0.000% of average net assets)
SAOTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $82K | 84.15% |
| BofA Securities, Inc. | $3K | 3.22% |
| UBS Securities LLC | $2K | 2.22% |
| Barclays Capital Inc. | $2K | 2.17% |
| Morgan Stanley & Co. LLC | $2K | 1.90% |
| J.P. Morgan Securities LLC | $1K | 1.37% |
| BMO Capital Markets Corp. | $1K | 1.36% |
| Jefferies LLC | $1K | 1.31% |
| CastleOak Securities, L.P. | $1K | 1.20% |
| Loop Capital Markets LLC | $1K | 1.10% |
SAOTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $404.5M | 99.71% |
| J.P. Morgan Securities LLC | $467K | 0.12% |
| Goldman Sachs & Co. LLC | $211K | 0.05% |
| BofA Securities, Inc. | $206K | 0.05% |
| Jefferies LLC | $152K | 0.04% |
| Morgan Stanley & Co. LLC | $144K | 0.04% |
Overlay A Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SAOTX | Class 2 | 1.09% | none |
| SAOOX | Class 1 | 1.30% | 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.