LDMIX Fees and Costs — Lazard Developing Markets Equity Portfolio, Institutional Shares
Data updated: 2026-08-21
The net expense ratio is 1.10%: a 1.00% management fee plus 0.22% other expenses, less a 0.12% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $78K in broker commissions, 0.0822% of average net assets, and portfolio turnover was 35%.
LDMIX Fees and Expenses
Annual operating expenses and sales charges of LDMIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.22% |
| Gross expense ratio | 1.22% |
| Fee waiver | −0.12% |
| Net expense ratio | 1.10% |
| 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 |
LDMIX Costs Over Time
On $10,000 invested in LDMIX, assuming 5% a year before costs, total costs come to $737 over 5 years, cutting the return by 1.24% 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 1.10%) | $116 | $360 | $623 |
| Trading costs (broker commissions) | $9 | $27 | $47 |
| Lost growth on money paid in costs | $0 | $19 | $68 |
| Total costs | $124 | $406 | $737 |
| Value after costs | $10,376 | $11,171 | $12,026 |
| Impact on return, per year | 1.24% | 1.24% | 1.24% |
LDMIX 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): 0.0822%
- Total broker commissions: $78K
- Bought from dealers (principal trades, not a cost): $230.7M
- Portfolio turnover (prospectus): 35%
- Securities lending: none during the year
LDMIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $14K | 21.59% |
| CLSA Americas, LLC | $10K | 15.87% |
| Morgan Stanley & Co. LLC | $10K | 14.94% |
| BofA Securities, Inc. | $10K | 14.78% |
| Citigroup Global Markets Inc. | $5K | 8.18% |
| BNP Paribas Securities Corp. | $4K | 6.17% |
| SG Americas Securities, LLC | $3K | 5.13% |
| Macquarie Capital (USA) Inc. | $3K | 4.71% |
| Jefferies LLC | $3K | 4.64% |
| UBS Securities LLC | $3K | 3.98% |
LDMIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $230.7M | 100.00% |
Lazard Developing Markets Equity Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RLDMX | C000134195 | 1.05% | — |
| LDMIX | Institutional Shares | 1.10% | — |
| LDMOX | Open Shares | 1.35% | — |
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.