C000103954 Fees and Costs — Lazard US Realty Equity Portfolio, Open Shares
Data updated: 2020-05-26
The net expense ratio is 1.25%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.38% other expenses, less a 0.13% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $15K in broker commissions, 0.0247% of average net assets, and portfolio turnover was 19%.
C000103954 Fees and Expenses
Annual operating expenses and sales charges of C000103954. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.38% |
| Gross expense ratio | 1.38% |
| Fee waiver | −0.13% |
| Net expense ratio | 1.25% |
| 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 |
C000103954 Costs Over Time
On $10,000 invested in C000103954, assuming 5% a year before costs, total costs come to $793 over 5 years, cutting the return by 1.34% 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 1.25%) | $131 | $408 | $706 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $134 | $437 | $793 |
| Value after costs | $10,366 | $11,139 | $11,970 |
| Impact on return, per year | 1.34% | 1.34% | 1.34% |
C000103954 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0247%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $36.6M
- Portfolio turnover (prospectus): 19%
- Securities lending: none during the year
C000103954 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $5K | 35.71% |
| Goldman Sachs & Co. LLC | $2K | 12.83% |
| Citigroup Global Markets Inc. | $2K | 12.30% |
| Sanford C. Bernstein & Co., LLC | $2K | 11.70% |
| BofA Securities, Inc. | $2K | 10.72% |
| Citation Group Ltd. | $1K | 7.49% |
| Credit Suisse Securities (USA) LLC | $614 | 4.12% |
| Virtu Itg LLC | $406 | 2.73% |
| Virtu Americas LLC | $281 | 1.88% |
| UBS Securities LLC | $76 | 0.51% |
C000103954 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $36.6M | 100.00% |
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.