LMRNX Fees and Costs — 1919 Socially Responsive Balanced Fund, Class I
Data updated: 2026-08-28
The net expense ratio is 0.69%: a 0.50% management fee plus 0.19% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $28K in broker commissions, 0.0031% of average net assets, and portfolio turnover was 11%.
LMRNX Fees and Expenses
Annual operating expenses and sales charges of LMRNX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.19% |
| Gross expense ratio | 0.69% |
| Fee waiver | — |
| Net expense ratio | 0.69% |
| 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 | Yes |
LMRNX Costs Over Time
On $10,000 invested in LMRNX, assuming 5% a year before costs, total costs come to $436 over 5 years, cutting the return by 0.73% 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 0.69%) | $72 | $227 | $395 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $73 | $239 | $436 |
| Value after costs | $10,427 | $11,337 | $12,327 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
LMRNX 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): 0.0031%
- Total broker commissions: $28K
- Bought from dealers (principal trades, not a cost): $817.0M
- Portfolio turnover (prospectus): 11%
- Securities lending: none during the year
LMRNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $9K | 33.73% |
| GOLDMAN SACHS & CO. LLC | $7K | 24.00% |
| PERSHING LLC | $5K | 16.71% |
| RBC CAPITAL MARKETS LLC | $2K | 8.80% |
| UBS FINANCIAL SERVICES INC. | $2K | 5.62% |
| MIZUHO SECURITIES USA LLC | $803 | 2.87% |
| National Financial Services LLC | $703 | 2.51% |
| MORGAN STANLEY & CO. LLC | $585 | 2.09% |
| BARCLAY INVESTMENTS LLC | $568 | 2.03% |
| BNY Advisors | $457 | 1.63% |
LMRNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WACHOVIA BANK N.A. | $62.0M | 27.43% |
| CITIGROUP GLOBAL MARKETS INC. | $45.6M | 20.16% |
| GOLDMAN SACHS & CO. LLC | $42.3M | 18.71% |
| J.P. MORGAN SECURITIES LLC | $26.2M | 11.57% |
| BANC/AMERICA SECUR.LLC MONTGOMEY DIV | $20.1M | 8.90% |
| U.S. Bancorp Advisors, LLC | $17.0M | 7.51% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $6.0M | 2.64% |
| FTN FINANCIAL SECURITIES CORP | $4.3M | 1.91% |
| BNY Advisors | $1.5M | 0.66% |
| BARCLAY INVESTMENTS LLC | $1.1M | 0.50% |
1919 Socially Responsive Balanced Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LMRNX | Class I | 0.69% | none |
| SSIAX | Class A | 0.95% | 5.75% |
| SESLX | Class C | 1.68% | 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.