LCAOX Fees and Costs — Lazard Opportunistic Strategies Portfolio, Open Shares
Data updated: 2026-08-21
The net expense ratio is 1.46% (6.65% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $10K in broker commissions, 0.0375% of average net assets, and portfolio turnover was 56%.
LCAOX Fees and Expenses
Annual operating expenses and sales charges of LCAOX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 5.21% |
| Gross expense ratio | 6.65% |
| Fee waiver | −5.19% |
| Net expense ratio | 1.46% |
| 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 |
LCAOX Costs Over Time
On $10,000 invested in LCAOX, assuming 5% a year before costs, total costs come to $927 over 5 years, cutting the return by 1.57% 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 1.46%) | $153 | $476 | $821 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $24 | $85 |
| Total costs | $157 | $512 | $927 |
| Value after costs | $10,343 | $11,064 | $11,835 |
| Impact on return, per year | 1.57% | 1.57% | 1.57% |
LCAOX 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): 0.0375%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $491.5M
- Portfolio turnover (prospectus): 56%
- Securities lending: none during the year
LCAOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TD Securities (USA) LLC | $4K | 37.97% |
| Goldman Sachs & Co. LLC | $2K | 20.49% |
| Wells Fargo Securities, LLC | $2K | 18.14% |
| Virtu Americas LLC | $827 | 8.04% |
| Morgan Stanley & Co. LLC | $740 | 7.19% |
| BNP Paribas Securities Corp. | $358 | 3.48% |
| UBS Securities LLC | $162 | 1.57% |
| Barclays Capital Inc. | $147 | 1.43% |
| Liquidnet, Inc. | $99 | 0.97% |
| Sanford C. Bernstein & Co., LLC | $74 | 0.72% |
LCAOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $491.3M | 99.95% |
| Optiver V.O.F. | $242K | 0.05% |
Lazard Opportunistic Strategies Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LCAIX | Institutional Shares | 1.21% | — |
| RLCPX | C000134194 | 1.21% | — |
| LCAOX | Open Shares | 1.46% | — |
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.