CONOX Fees and Costs — Lazard US Convertibles Portfolio, Open Shares
Data updated: 2026-08-21
The net expense ratio is 1.00%: a 0.60% management fee, a 0.25% 12b-1 fee plus 3.62% other expenses, less a 3.47% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $125 in broker commissions, 0.0008% of average net assets, and portfolio turnover was 51%.
CONOX Fees and Expenses
Annual operating expenses and sales charges of CONOX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 3.62% |
| Gross expense ratio | 4.47% |
| Fee waiver | −3.47% |
| 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 |
CONOX Costs Over Time
On $10,000 invested in CONOX, assuming 5% a year before costs, total costs come to $626 over 5 years, cutting the return by 1.05% 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 | $328 | $568 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $105 | $344 | $626 |
| Value after costs | $10,395 | $11,232 | $12,137 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
CONOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0008%
- Total broker commissions: $125
- Bought from dealers (principal trades, not a cost): $106.9M
- Portfolio turnover (prospectus): 51%
- Securities lending: none during the year
CONOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $125 | 100.00% |
CONOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $89.3M | 84.79% |
| BofA Securities, Inc. | $3.5M | 3.33% |
| UBS Securities LLC | $2.8M | 2.68% |
| Jefferies LLC | $2.8M | 2.66% |
| Morgan Stanley & Co. LLC | $2.2M | 2.10% |
| Citigroup Global Markets Inc. | $1.4M | 1.34% |
| Wells Fargo Securities, LLC | $1.1M | 1.08% |
| J.P. Morgan Securities LLC | $775K | 0.74% |
| Barclays Capital Inc. | $733K | 0.70% |
| Goldman Sachs & Co. LLC | $613K | 0.58% |
Lazard US Convertibles Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CONRX | R6 Shares | 0.70% | — |
| CONIX | Institutional Shares | 0.75% | — |
| CONOX | Open Shares | 1.00% | — |
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.