C000096532 Fees and Costs — Lazard Emerging Markets Debt Portfolio, Open Shares
Data updated: 2023-05-30
The net expense ratio is 1.06%: a 0.70% management fee, a 0.25% 12b-1 fee plus 1.89% other expenses, less a 1.79% fee waiver. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $0 in broker commissions, and portfolio turnover was 81%.
C000096532 Fees and Expenses
Annual operating expenses and sales charges of C000096532. Prospectus, as of December 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.89% |
| Gross expense ratio | 2.85% |
| Fee waiver | −1.79% |
| Net expense ratio | 1.06% |
| 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 |
C000096532 Costs Over Time
On $10,000 invested in C000096532, assuming 5% a year before costs, total costs come to $662 over 5 years, cutting the return by 1.11% 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 1.06%) | $111 | $347 | $601 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $111 | $364 | $662 |
| Value after costs | $10,389 | $11,212 | $12,101 |
| Impact on return, per year | 1.11% | 1.11% | 1.11% |
C000096532 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): —
- Total broker commissions: $0
- Bought from dealers (principal trades, not a cost): $58.0M
- Portfolio turnover (prospectus): 81%
- Securities lending: none during the year
C000096532 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $0 | 100.00% |
C000096532 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $22.9M | 45.00% |
| HSBC Securities (USA) Inc. | $5.1M | 10.07% |
| Citigroup Global Markets Inc. | $4.4M | 8.71% |
| BofA Securities, Inc. | $3.4M | 6.74% |
| Barclays Capital Inc. | $2.9M | 5.73% |
| J.P. Morgan Securities LLC | $2.7M | 5.37% |
| Jefferies LLC | $2.7M | 5.28% |
| Goldman Sachs & Co. LLC | $2.4M | 4.76% |
| BNP Paribas Securities Corp. | $2.1M | 4.18% |
| Morgan Stanley & Co. LLC | $2.1M | 4.16% |
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.