IREEX Fees and Costs — Nomura Real Estate Securities Fund, Class E
Data updated: 2026-08-26
The net expense ratio is 1.22%: a 0.90% management fee, a 0.25% 12b-1 fee plus 0.62% other expenses, less a 0.55% fee waiver. This share class carries a maximum front-end sales load of 2.50% and a deferred sales charge of up to 1.00%. In fiscal 2026 the fund paid $49K in broker commissions, 0.0556% of average net assets, and portfolio turnover was 37%.
IREEX Fees and Expenses
Annual operating expenses and sales charges of IREEX. Prospectus, as of March 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.62% |
| Gross expense ratio | 1.77% |
| Fee waiver | −0.55% |
| Net expense ratio | 1.22% |
| Sales charges | |
|---|---|
| Max front load | 2.50% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
IREEX Costs Over Time
On $10,000 invested in IREEX, assuming 5% a year before costs, total costs come to $1,093 over 5 years, cutting the return by 1.86% 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 | $351 | $250 | $250 |
| Fund expenses (net expense ratio 1.22%) | $125 | $389 | $672 |
| Trading costs (broker commissions) | $6 | $18 | $31 |
| Lost growth on money paid in costs | $13 | $60 | $140 |
| Total costs | $494 | $716 | $1,093 |
| Value after costs | $10,006 | $10,860 | $11,670 |
| Impact on return, per year | 4.94% | 2.21% | 1.86% |
IREEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0556%
- Total broker commissions: $49K
- Bought from dealers (principal trades, not a cost): $610K
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
IREEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| DBS Vickers Securities (USA) Inc. | $7K | 16.57% |
| BOFA SECURITIES, INC. | $5K | 13.18% |
| MORGAN STANLEY & CO. LLC | $5K | 12.22% |
| UBS Securities LLC | $4K | 9.85% |
| J.P. Morgan Securities LLC | $4K | 9.81% |
| BTIG, LLC | $4K | 9.47% |
| CitiGroup Global Markets Inc. | $4K | 8.96% |
| JEFFERIES LLC | $3K | 8.33% |
| GOLDMAN SACHS & CO. LLC | $3K | 6.79% |
| JONESTRADING | $2K | 4.82% |
IREEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $276K | 45.25% |
| WELLS FARGO SECURITIES, LLC | $224K | 36.69% |
| BOFA SECURITIES, INC. | $110K | 18.07% |
Nomura Real Estate Securities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| IRSEX | Class R6 | 0.68% | none |
| IREIX | Institutional Class | 0.83% | none |
| IRSAX | Class A | 1.08% | 5.75% |
| IRSYX | Class Y | 1.08% | none |
| IREEX | Class E | 1.22% | 2.50% |
| IRSRX | Class R | 1.33% | none |
| IRSCX | Class C | 1.83% | 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.