C000204770 Fees and Costs — ClearBridge Select Fund, Class A2
Data updated: 2026-09-23
The net expense ratio is 1.49%: a 0.95% management fee, a 0.25% 12b-1 fee plus 0.28% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $759K in broker commissions, 0.0217% of average net assets, and portfolio turnover was 29%.
C000204770 Fees and Expenses
Annual operating expenses and sales charges of C000204770. Prospectus, as of February 28, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.28% |
| Gross expense ratio | 1.49% |
| Fee waiver | — |
| Net expense ratio | 1.49% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000204770 Costs Over Time
On $10,000 invested in C000204770, assuming 5% a year before costs, total costs come to $1,616 over 5 years, cutting the return by 2.80% 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 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.49%) | $147 | $458 | $789 |
| Trading costs (broker commissions) | $2 | $7 | $11 |
| Lost growth on money paid in costs | $29 | $114 | $240 |
| Total costs | $753 | $1,153 | $1,616 |
| Value after costs | $9,747 | $10,423 | $11,147 |
| Impact on return, per year | 7.53% | 3.61% | 2.80% |
C000204770 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0217%
- Total broker commissions: $759K
- Bought from dealers (principal trades, not a cost): $62.6M
- Portfolio turnover (prospectus): 29%
- Securities lending: none during the year
C000204770 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $107K | 19.59% |
| BOFA SECURITIES, INC. | $70K | 12.93% |
| MORGAN STANLEY & CO. LLC | $58K | 10.65% |
| J.P. MORGAN SECURITIES LLC | $56K | 10.31% |
| JEFFERIES LLC | $51K | 9.28% |
| CAPIS | $44K | 8.06% |
| Pershing LLC | $42K | 7.65% |
| BARCLAYS CAPITAL, INC. | $40K | 7.29% |
| INSTINET, LLC | $40K | 7.26% |
| NATIONAL FINANCIAL SERVICES LLC | $38K | 6.99% |
C000204770 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $26.2M | 41.89% |
| BOFA SECURITIES, INC. | $23.0M | 36.75% |
| Goldman Sachs & Co. LLC | $13.4M | 21.36% |
ClearBridge Select Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LCSSX | Class IS | 0.99% | none |
| LBFIX | Class I | 1.09% | none |
| LCLAX | Class A | 1.34% | 5.50% |
| LCBSX | Class FI | 1.37% | none |
| C000204770 | Class A2 | 1.49% | 5.75% |
| CBSCX | Class R | 1.68% | none |
| LCLCX | Class C | 2.08% | none |
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.