C000145071 Fees and Costs — Lazard International Equity Concentrated Portfolio, Institutional Shares
Data updated: 2021-08-13
The net expense ratio is 0.90%: a 0.80% management fee plus 0.37% other expenses, less a 0.27% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $96K in broker commissions, 0.1768% of average net assets, and portfolio turnover was 93%.
C000145071 Fees and Expenses
Annual operating expenses and sales charges of C000145071. Prospectus, as of December 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.37% |
| Gross expense ratio | 1.17% |
| Fee waiver | −0.27% |
| Net expense ratio | 0.90% |
| 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 |
C000145071 Costs Over Time
On $10,000 invested in C000145071, assuming 5% a year before costs, total costs come to $673 over 5 years, cutting the return by 1.13% 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 0.90%) | $94 | $295 | $511 |
| Trading costs (broker commissions) | $19 | $58 | $100 |
| Lost growth on money paid in costs | $0 | $17 | $62 |
| Total costs | $113 | $370 | $673 |
| Value after costs | $10,387 | $11,206 | $12,090 |
| Impact on return, per year | 1.13% | 1.13% | 1.13% |
C000145071 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1768%
- Total broker commissions: $96K
- Bought from dealers (principal trades, not a cost): $120.4M
- Portfolio turnover (prospectus): 93%
- Securities lending: none during the year
C000145071 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Credit Suisse Securities (USA) LLC | $20K | 24.49% |
| BofA Securities, Inc. | $12K | 14.44% |
| UBS Securities LLC | $9K | 11.59% |
| Goldman Sachs & Co. LLC | $7K | 9.13% |
| Morgan Stanley & Co. LLC | $6K | 7.85% |
| Barclays Capital Inc. | $6K | 7.78% |
| CLSA Americas, LLC | $6K | 7.70% |
| Santander Securities LLC | $5K | 6.35% |
| J.P. Morgan Securities LLC | $4K | 5.38% |
| Cowen and Company, LLC | $4K | 5.29% |
C000145071 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $120.2M | 99.77% |
| Goldman Sachs & Co. LLC | $281K | 0.23% |
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.