C000114570 Fees and Costs — Lazard Global Dynamic Multi-Asset Portfolio, Institutional Shares
Data updated: 2024-05-29
The net expense ratio is 0.91%: a 0.80% management fee plus 1.36% other expenses, less a 1.26% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $6K in broker commissions, 0.0509% of average net assets, and portfolio turnover was 108%.
C000114570 Fees and Expenses
Annual operating expenses and sales charges of C000114570. Prospectus, as of December 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.36% |
| Gross expense ratio | 2.17% |
| Fee waiver | −1.26% |
| Net expense ratio | 0.91% |
| 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 |
C000114570 Costs Over Time
On $10,000 invested in C000114570, assuming 5% a year before costs, total costs come to $602 over 5 years, cutting the return by 1.01% 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 0.91%) | $96 | $298 | $517 |
| Trading costs (broker commissions) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $331 | $602 |
| Value after costs | $10,399 | $11,246 | $12,161 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
C000114570 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0509%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): $17.0M
- Portfolio turnover (prospectus): 108%
- Securities lending: none during the year
C000114570 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $2K | 29.28% |
| Morgan Stanley & Co. LLC | $1K | 25.78% |
| Goldman Sachs & Co. LLC | $527 | 9.70% |
| UBS Securities LLC | $398 | 7.32% |
| Barclays Capital Inc. | $391 | 7.19% |
| Cowen and Company, LLC | $299 | 5.50% |
| Citigroup Global Markets Inc. | $253 | 4.65% |
| Nomura Securities International, Inc. | $229 | 4.21% |
| CLSA Americas, LLC | $217 | 4.00% |
| J.P. Morgan Securities LLC | $129 | 2.38% |
C000114570 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $8.8M | 62.84% |
| MarketAxess Corporation | $2.0M | 13.96% |
| TD Securities (USA) LLC | $620K | 4.42% |
| Deutsche Bank Securities Inc. | $504K | 3.59% |
| J.P. Morgan Securities LLC | $466K | 3.32% |
| BNP Paribas Securities Corp. | $458K | 3.26% |
| Morgan Stanley & Co. LLC | $349K | 2.48% |
| Scotia Capital (USA) Inc. | $328K | 2.33% |
| HSBC Securities (USA) Inc. | $283K | 2.01% |
| CIBC World Markets Corp. | $250K | 1.78% |
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.