C000028466 Fees and Costs — Lazard Retirement US Equity Select Portfolio, Service Shares
Data updated: 2019-11-19
The net expense ratio is 1.00%: a 0.65% management fee, a 0.25% 12b-1 fee plus 1.17% other expenses, less a 1.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2018 the fund paid $4K in broker commissions, 0.0433% of average net assets, and portfolio turnover was 67%.
C000028466 Fees and Expenses
Annual operating expenses and sales charges of C000028466. Prospectus, as of December 31, 2018.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.17% |
| Gross expense ratio | 2.07% |
| Fee waiver | −1.07% |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
C000028466 Costs Over Time
On $10,000 invested in C000028466, assuming 5% a year before costs, total costs come to $652 over 5 years, cutting the return by 1.10% 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 |
| Fund expenses (net expense ratio 1.00%) | $105 | $327 | $568 |
| Trading costs (broker commissions) | $5 | $14 | $25 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $110 | $359 | $652 |
| Value after costs | $10,390 | $11,218 | $12,111 |
| Impact on return, per year | 1.10% | 1.10% | 1.10% |
C000028466 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2018.
- Explicit cost rate (commissions ÷ average net assets): 0.0433%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $8.4M
- Portfolio turnover (prospectus): 67%
- Securities lending: none during the year
C000028466 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $826 | 21.92% |
| Barclays Bank PLC | $685 | 18.18% |
| BMO Capital Markets Corp. | $417 | 11.05% |
| Citation Group Ltd. | $394 | 10.44% |
| UBS AG | $353 | 9.36% |
| Citigroup Global Markets Inc. | $286 | 7.59% |
| JPMorgan Chase & Co. | $259 | 6.87% |
| Goldman Sachs & Co. LLC | $256 | 6.79% |
| Liquidnet, Inc. | $155 | 4.10% |
| Sanford C. Bernstein & Co., LLC | $139 | 3.69% |
C000028466 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $8.3M | 99.50% |
| Morgan Stanley & Co. LLC | $32K | 0.39% |
| Goldman Sachs & Co. LLC | $10K | 0.11% |
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.