DEMRX Fees and Costs — Nomura Emerging Markets Fund, Class R
Data updated: 2026-07-27
The net expense ratio is 1.65%: a 1.13% management fee, a 0.50% 12b-1 fee plus 0.19% other expenses, less a 0.17% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.0M in broker commissions, 0.0325% of average net assets, and portfolio turnover was 5%.
DEMRX Fees and Expenses
Annual operating expenses and sales charges of DEMRX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.13% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.19% |
| Gross expense ratio | 1.82% |
| Fee waiver | −0.17% |
| Net expense ratio | 1.65% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 | No |
DEMRX Costs Over Time
On $10,000 invested in DEMRX, assuming 5% a year before costs, total costs come to $1,038 over 5 years, cutting the return by 1.77% 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 1.65%) | $173 | $537 | $924 |
| Trading costs (broker commissions) | $3 | $11 | $18 |
| Lost growth on money paid in costs | $0 | $27 | $96 |
| Total costs | $177 | $575 | $1,038 |
| Value after costs | $10,323 | $11,002 | $11,725 |
| Impact on return, per year | 1.77% | 1.77% | 1.77% |
DEMRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0325%
- Total broker commissions: $2.0M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 5%
- Securities lending: none during the year
DEMRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $635K | 34.98% |
| UBS Securities LLC | $459K | 25.29% |
| CitiGroup Global Markets Inc. | $221K | 12.18% |
| MORGAN STANLEY & CO. LLC | $145K | 7.97% |
| GOLDMAN SACHS & CO. LLC | $84K | 4.62% |
| BOFA SECURITIES, INC. | $66K | 3.64% |
| Raymond James & Associates, Inc. | $59K | 3.26% |
| JEFFERIES LLC | $54K | 2.98% |
| HSBC SECURITIES (USA) INC. | $47K | 2.61% |
| ITAU BBA USA SECURITIES, INC. | $45K | 2.47% |
Nomura Emerging Markets Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DEMZX | Class R6 | 1.06% | none |
| DEMIX | Institutional Class | 1.15% | none |
| DEMAX | Class A | 1.40% | 5.75% |
| DEMRX | Class R | 1.65% | none |
| DEMCX | Class C | 2.15% | 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.