SHNAX Fees and Costs — AIG Flexible Credit Fund, Class A
Data updated: 2021-08-27
The net expense ratio is 1.04%: a 0.74% management fee, a 0.35% 12b-1 fee plus 0.35% other expenses, less a 0.40% fee waiver. This share class carries a maximum front-end sales load of 4.75%. In fiscal 2021 the fund paid $174 in broker commissions, 0.0001% of average net assets, and portfolio turnover was 67%.
SHNAX Fees and Expenses
Annual operating expenses and sales charges of SHNAX. Prospectus, as of March 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.74% |
| 12b-1 fee | 0.35% |
| Other expenses | 0.35% |
| Gross expense ratio | 1.44% |
| Fee waiver | −0.40% |
| Net expense ratio | 1.04% |
| Sales charges | |
|---|---|
| Max front load | 4.75% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
SHNAX Costs Over Time
On $10,000 invested in SHNAX, assuming 5% a year before costs, total costs come to $1,225 over 5 years, cutting the return by 2.10% 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 |
| Sales charges | $475 | $475 | $475 |
| Fund expenses (net expense ratio 1.04%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $24 | $91 | $188 |
| Total costs | $603 | $890 | $1,225 |
| Value after costs | $9,897 | $10,686 | $11,537 |
| Impact on return, per year | 6.03% | 2.76% | 2.10% |
SHNAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0001%
- Total broker commissions: $174
- Bought from dealers (principal trades, not a cost): $624.3M
- Portfolio turnover (prospectus): 67%
- Securities lending: none during the year
SHNAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Instinet, LLC | $174 | 100.00% |
SHNAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $241.8M | 43.12% |
| J.P. Morgan Securities LLC | $75.5M | 13.46% |
| BofA Securities, Inc. | $50.9M | 9.08% |
| Credit Suisse Securities (USA) LLC | $41.1M | 7.33% |
| Citigroup Global Markets Inc. | $34.9M | 6.23% |
| Barclays Capital Inc. | $33.1M | 5.91% |
| Goldman Sachs & Co. LLC | $27.8M | 4.96% |
| Morgan Stanley & Co. LLC | $20.3M | 3.62% |
| Jefferies LLC | $18.5M | 3.31% |
| BNY Mellon Capital Markets, LLC | $16.8M | 2.99% |
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.