C000088404 Fees and Costs — Lazard Emerging Markets Strategic Equity Portfolio, Institutional Shares
Data updated: 2023-05-30
The net expense ratio is 1.10%: a 1.00% management fee plus 0.39% other expenses, less a 0.29% fee waiver. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $20K in broker commissions, 0.0399% of average net assets, and portfolio turnover was 23%.
C000088404 Fees and Expenses
Annual operating expenses and sales charges of C000088404. Prospectus, as of December 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.39% |
| Fee waiver | −0.29% |
| Net expense ratio | 1.10% |
| 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 |
C000088404 Costs Over Time
On $10,000 invested in C000088404, assuming 5% a year before costs, total costs come to $711 over 5 years, cutting the return by 1.20% 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 1.10%) | $116 | $360 | $623 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $18 | $65 |
| Total costs | $120 | $391 | $711 |
| Value after costs | $10,380 | $11,185 | $12,052 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
C000088404 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0399%
- Total broker commissions: $20K
- Bought from dealers (principal trades, not a cost): $30.2M
- Portfolio turnover (prospectus): 23%
- Securities lending: none during the year
C000088404 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $5K | 26.01% |
| BofA Securities, Inc. | $4K | 18.48% |
| HSBC Securities (USA) Inc. | $3K | 16.15% |
| CLSA Americas, LLC | $3K | 15.21% |
| J.P. Morgan Securities LLC | $2K | 8.37% |
| Citigroup Global Markets Inc. | $2K | 8.07% |
| Credit Suisse Securities (USA) LLC | $834 | 4.19% |
| UBS Securities LLC | $272 | 1.36% |
| Bradesco Securities, Inc. | $256 | 1.29% |
| Itau International Securities Inc. | $173 | 0.87% |
C000088404 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $30.0M | 99.32% |
| Euroclear Bank | $184K | 0.61% |
| Pershing LLC | $22K | 0.07% |
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.