LEVOX Fees and Costs — Lazard US Equity Concentrated Portfolio, Open Shares
Data updated: 2026-05-28
The net expense ratio is 1.05%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.21% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $42K in broker commissions, 0.0927% of average net assets, and portfolio turnover was 146%.
LEVOX Fees and Expenses
Annual operating expenses and sales charges of LEVOX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.06% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.05% |
| 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 |
LEVOX Costs Over Time
On $10,000 invested in LEVOX, assuming 5% a year before costs, total costs come to $713 over 5 years, cutting the return by 1.20% 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 1.05%) | $110 | $343 | $595 |
| Trading costs (broker commissions) | $10 | $30 | $53 |
| Lost growth on money paid in costs | $0 | $19 | $65 |
| Total costs | $120 | $392 | $713 |
| Value after costs | $10,380 | $11,184 | $12,050 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
LEVOX 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): 0.0927%
- Total broker commissions: $42K
- Bought from dealers (principal trades, not a cost): $97.1M
- Portfolio turnover (prospectus): 146%
- Securities lending: none during the year
LEVOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $7K | 20.45% |
| Goldman Sachs & Co. LLC | $5K | 16.32% |
| Barclays Capital Inc. | $4K | 13.39% |
| Morgan Stanley & Co. LLC | $3K | 9.69% |
| Jefferies LLC | $3K | 8.29% |
| UBS Securities LLC | $3K | 7.88% |
| Sanford C. Bernstein & Co., LLC | $2K | 6.52% |
| J.P. Morgan Securities LLC | $2K | 6.19% |
| BofA Securities, Inc. | $2K | 5.97% |
| Nomura Securities International, Inc. | $2K | 5.30% |
LEVOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $97.1M | 99.93% |
| Wells Fargo Securities, LLC | $62K | 0.06% |
| Morgan Stanley & Co. LLC | $10K | 0.01% |
Lazard US Equity Concentrated Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RLUEX | R6 Shares | 0.75% | — |
| LEVIX | Institutional Shares | 0.80% | — |
| LEVOX | Open Shares | 1.05% | — |
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.