TEQIX Fees and Costs — Franklin Mutual Quest Fund, Class A
Data updated: 2026-08-27
The net expense ratio is 1.03%: a 0.68% management fee, a 0.25% 12b-1 fee plus 0.09% other expenses. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2025 the fund paid $1.1M in broker commissions, 0.0408% of average net assets, and portfolio turnover was 50%.
TEQIX Fees and Expenses
Annual operating expenses and sales charges of TEQIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.68% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.09% |
| Gross expense ratio | 1.03% |
| Fee waiver | — |
| Net expense ratio | 1.03% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 |
TEQIX Costs Over Time
On $10,000 invested in TEQIX, assuming 5% a year before costs, total costs come to $1,334 over 5 years, cutting the return by 2.29% 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 | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.03%) | $102 | $319 | $552 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $28 | $103 | $210 |
| Total costs | $684 | $984 | $1,334 |
| Value after costs | $9,816 | $10,592 | $11,429 |
| Impact on return, per year | 6.84% | 3.06% | 2.29% |
TEQIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0408%
- Total broker commissions: $1.1M
- Bought from dealers (principal trades, not a cost): $13.0B
- Portfolio turnover (prospectus): 50%
- Securities lending: none during the year
TEQIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Sanford C. Bernstein & Co., LLC | $119K | 18.04% |
| UBS Securities LLC | $99K | 15.08% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $78K | 11.91% |
| Morgan Stanley & Co. LLC | $68K | 10.34% |
| J.P. Morgan Securities LLC | $66K | 10.05% |
| Jefferies LLC | $51K | 7.80% |
| Oscar Gruss & Son Incorporated | $47K | 7.21% |
| BNP Paribas Securities Corp. | $44K | 6.65% |
| Barclays Capital, Inc. | $43K | 6.47% |
| SMBC Nikko Securities America, Inc. | $42K | 6.46% |
TEQIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital, Inc. | $8.2B | 63.38% |
| Jefferies LLC | $3.1B | 23.80% |
| J.P. Morgan Securities LLC | $847.0M | 6.53% |
| Bank of New York Mellon Corp. | $638.5M | 4.92% |
| Goldman Sachs & Co. LLC | $40.5M | 0.31% |
| Morgan Stanley & Co. LLC | $39.5M | 0.30% |
| Citigroup Global Markets Inc. | $38.9M | 0.30% |
| BofA Securities, Inc. | $25.4M | 0.20% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $21.6M | 0.17% |
| Deutsche Bank Securities Inc. | $13.0M | 0.10% |
Franklin Mutual Quest Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FMQRX | Class R6 | 0.74% | none |
| MQIFX | Class Z | 0.78% | none |
| TEQIX | Class A | 1.03% | 5.50% |
| FMQSX | Class R | 1.29% | none |
| TEMQX | Class C | 1.78% | 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.