LLRXX Fees and Costs — Western Asset Institutional Liquid Reserves, Investor Shares
Data updated: 2025-12-23
The net expense ratio is 0.23%: a 0.20% management fee, a 0.05% 12b-1 fee plus 8.55% other expenses, less a 8.57% fee waiver. There are no sales loads or redemption fees.
LLRXX Fees and Expenses
Annual operating expenses and sales charges of LLRXX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.05% |
| Other expenses | 8.55% |
| Gross expense ratio | 8.80% |
| Fee waiver | −8.57% |
| Net expense ratio | 0.23% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
LLRXX Costs Over Time
On $10,000 invested in LLRXX, assuming 5% a year before costs, total costs come to $146 over 5 years, cutting the return by 0.24% 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 0.23%) | $24 | $76 | $133 |
| Lost growth on money paid in costs | $0 | $4 | $13 |
| Total costs | $24 | $80 | $146 |
| Value after costs | $10,476 | $11,497 | $12,617 |
| Impact on return, per year | 0.24% | 0.24% | 0.24% |
LLRXX 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
Western Asset Institutional Liquid Reserves Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CILXX | Institutional Shares | 0.18% | none |
| LLRXX | Investor Shares | 0.23% | none |
| LRAXX | C000091743 | 0.40% | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.