C000127909 Fees and Costs — Lazard Explorer Total Return Portfolio, Open Shares
Data updated: 2019-11-19
The net expense ratio is 1.41%: a 0.90% management fee, a 0.25% 12b-1 fee plus 4.06% other expenses, less a 3.81% fee waiver. There are no sales loads or redemption fees. In fiscal 2018 the fund paid $238 in broker commissions, 0.0002% of average net assets, and portfolio turnover was 151%.
C000127909 Fees and Expenses
Annual operating expenses and sales charges of C000127909. Prospectus, as of December 31, 2018.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 4.06% |
| Gross expense ratio | 5.22% |
| Fee waiver | −3.81% |
| Net expense ratio | 1.41% |
| 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 |
C000127909 Costs Over Time
On $10,000 invested in C000127909, assuming 5% a year before costs, total costs come to $875 over 5 years, cutting the return by 1.48% 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 1.41%) | $148 | $460 | $794 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $23 | $81 |
| Total costs | $148 | $483 | $875 |
| Value after costs | $10,352 | $11,093 | $11,888 |
| Impact on return, per year | 1.48% | 1.48% | 1.48% |
C000127909 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): 0.0002%
- Total broker commissions: $238
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 151%
- Securities lending: none during the year
C000127909 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Standard Chartered Securities (North America) LLC | $82 | 34.43% |
| Societe Generale | $72 | 30.14% |
| JPMorgan Chase & Co. | $44 | 18.30% |
| ICBC Standard Securities Inc. | $41 | 17.13% |
C000127909 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $511.6M | 50.88% |
| Barclays Bank PLC | $91.8M | 9.13% |
| Citigroup Global Markets Inc. | $81.6M | 8.11% |
| JPMorgan Chase & Co. | $74.5M | 7.41% |
| Jefferies LLC | $56.9M | 5.66% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $55.6M | 5.53% |
| Morgan Stanley & Co. LLC | $40.0M | 3.98% |
| HSBC Holdings PLC | $39.9M | 3.97% |
| Deutsche Bank Securities Inc. | $33.2M | 3.31% |
| Goldman Sachs & Co. LLC | $20.3M | 2.02% |
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.