C000156259 Fees and Costs — Lazard Managed Equity Volatility Portfolio, Open Shares
Data updated: 2024-08-20
The net expense ratio is 1.00%: a 0.60% management fee, a 0.25% 12b-1 fee plus 6.99% other expenses, less a 6.84% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $24K in broker commissions, 0.1037% of average net assets, and portfolio turnover was 83%.
C000156259 Fees and Expenses
Annual operating expenses and sales charges of C000156259. Prospectus, as of December 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 6.99% |
| Gross expense ratio | 7.84% |
| Fee waiver | −6.84% |
| Net expense ratio | 1.00% |
| 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 |
C000156259 Costs Over Time
On $10,000 invested in C000156259, assuming 5% a year before costs, total costs come to $689 over 5 years, cutting the return by 1.16% 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 1.00%) | $105 | $327 | $567 |
| Trading costs (broker commissions) | $11 | $34 | $59 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $379 | $689 |
| Value after costs | $10,384 | $11,197 | $12,074 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
C000156259 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): 0.1037%
- Total broker commissions: $24K
- Bought from dealers (principal trades, not a cost): $12.2M
- Portfolio turnover (prospectus): 83%
- Securities lending: none during the year
C000156259 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $8K | 35.65% |
| BofA Securities, Inc. | $3K | 13.82% |
| Goldman Sachs & Co. LLC | $3K | 13.08% |
| Cowen and Company, LLC | $2K | 10.89% |
| UBS Securities LLC | $2K | 8.39% |
| J.P. Morgan Securities LLC | $970 | 4.43% |
| Citigroup Global Markets Inc. | $896 | 4.10% |
| Barclays Capital Inc. | $847 | 3.87% |
| Jefferies LLC | $780 | 3.57% |
| Daiwa Capital Markets America Inc. | $481 | 2.20% |
C000156259 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $12.2M | 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.