C000205573 Fees and Costs — Lazard International Equity Value Portfolio, Open Shares
Data updated: 2022-05-27
The net expense ratio is 1.20%: a 0.80% management fee, a 0.25% 12b-1 fee plus 13.74% other expenses, less a 13.59% fee waiver. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $4K in broker commissions, 0.1335% of average net assets, and portfolio turnover was 70%.
C000205573 Fees and Expenses
Annual operating expenses and sales charges of C000205573. Prospectus, as of December 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 13.74% |
| Gross expense ratio | 14.79% |
| Fee waiver | −13.59% |
| Net expense ratio | 1.20% |
| 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 |
C000205573 Costs Over Time
On $10,000 invested in C000205573, assuming 5% a year before costs, total costs come to $829 over 5 years, cutting the return by 1.40% 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 1.20%) | $126 | $392 | $677 |
| Trading costs (broker commissions) | $14 | $44 | $75 |
| Lost growth on money paid in costs | $0 | $22 | $76 |
| Total costs | $140 | $457 | $829 |
| Value after costs | $10,360 | $11,119 | $11,934 |
| Impact on return, per year | 1.40% | 1.40% | 1.40% |
C000205573 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.1335%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $1.8M
- Portfolio turnover (prospectus): 70%
- Securities lending: none during the year
C000205573 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $697 | 18.88% |
| UBS Securities LLC | $643 | 17.42% |
| Credit Suisse Securities (USA) LLC | $626 | 16.95% |
| BofA Securities, Inc. | $405 | 10.98% |
| Barclays Capital Inc. | $344 | 9.33% |
| J.P. Morgan Securities LLC | $337 | 9.12% |
| Exane, Inc. | $189 | 5.11% |
| Morgan Stanley & Co. LLC | $174 | 4.72% |
| Liquidnet, Inc. | $171 | 4.63% |
| Citigroup Global Markets Inc. | $106 | 2.86% |
C000205573 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.8M | 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.