LGMXX Fees and Costs — Western Asset Government Reserves
Data updated: 2025-12-23
The net expense ratio is 0.75%: a 0.42% management fee, a 0.25% 12b-1 fee plus 2.72% other expenses, less a 2.64% fee waiver. There are no sales loads or redemption fees.
LGMXX Fees and Expenses
Annual operating expenses and sales charges of LGMXX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.42% |
| 12b-1 fee | 0.25% |
| Other expenses | 2.72% |
| Gross expense ratio | 3.39% |
| Fee waiver | −2.64% |
| Net expense ratio | 0.75% |
| 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 | No |
| Waived fees subject to recoupment | No |
LGMXX Costs Over Time
On $10,000 invested in LGMXX, assuming 5% a year before costs, total costs come to $471 over 5 years, cutting the return by 0.79% 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 0.75%) | $79 | $246 | $428 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $259 | $471 |
| Value after costs | $10,421 | $11,318 | $12,291 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
LGMXX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
LGMXX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Cowen and Company, LLC | $142.9B | 14.00% |
| BNY MELLON CAPITAL MARKETS, LLC | $139.4B | 13.65% |
| FIXED INCOME CLEARING CORPORATION | $131.3B | 12.86% |
| J.P. Morgan Securities LLC | $117.4B | 11.49% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $111.0B | 10.87% |
| ING FINANCIAL MARKETS LLC | $99.0B | 9.70% |
| CREDIT AGRICOLE SECURITIES (USA) INC. | $86.9B | 8.51% |
| Federal Reserve Bank of New York | $82.6B | 8.09% |
| BNP PARIBAS SECURITIES CORP. | $56.2B | 5.51% |
| BMO CAPITAL MARKETS CORP. | $54.3B | 5.32% |
Western Asset Government Reserves Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SMGXX | Class A | 0.55% | none |
| LGMXX | C000089729 | 0.75% | 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.