LISOX Fees and Costs — Lazard International Strategic Equity Portfolio, Open Shares
Data updated: 2026-08-21
The net expense ratio is 1.09%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.09% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.7M in broker commissions, 0.1329% of average net assets, and portfolio turnover was 48%.
LISOX Fees and Expenses
Annual operating expenses and sales charges of LISOX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.09% |
| Gross expense ratio | 1.09% |
| Fee waiver | — |
| Net expense ratio | 1.09% |
| 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 |
LISOX Costs Over Time
On $10,000 invested in LISOX, assuming 5% a year before costs, total costs come to $762 over 5 years, cutting the return by 1.28% 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 1.09%) | $114 | $356 | $616 |
| Trading costs (broker commissions) | $14 | $43 | $75 |
| Lost growth on money paid in costs | $0 | $20 | $70 |
| Total costs | $128 | $420 | $762 |
| Value after costs | $10,372 | $11,157 | $12,001 |
| Impact on return, per year | 1.28% | 1.28% | 1.28% |
LISOX 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): 0.1329%
- Total broker commissions: $2.7M
- Bought from dealers (principal trades, not a cost): $6.4B
- Portfolio turnover (prospectus): 48%
- Securities lending: none during the year
LISOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $492K | 21.59% |
| UBS Securities LLC | $352K | 15.46% |
| Morgan Stanley & Co. LLC | $283K | 12.41% |
| BNP Paribas Securities Corp. | $264K | 11.57% |
| Goldman Sachs & Co. LLC | $206K | 9.04% |
| J.P. Morgan Securities LLC | $206K | 9.02% |
| BofA Securities, Inc. | $169K | 7.43% |
| SG Americas Securities, LLC | $108K | 4.72% |
| Jefferies LLC | $100K | 4.38% |
| TD Securities (USA) LLC | $100K | 4.38% |
LISOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $6.3B | 99.10% |
| BofA Securities, Inc. | $36.5M | 0.57% |
| Jefferies LLC | $16.2M | 0.26% |
| Morgan Stanley & Co. LLC | $4.4M | 0.07% |
Lazard International Strategic 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 |
|---|---|---|---|
| LISIX | Institutional Shares | 0.84% | — |
| RLITX | R6 Shares | 0.84% | — |
| LISOX | Open Shares | 1.09% | — |
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.