LUSOX Fees and Costs — Lazard US Systematic Small Cap Equity Portfolio, Open Shares
Data updated: 2025-08-21
The net expense ratio is 1.29% (4.22% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $4K in broker commissions, 0.0087% of average net assets, and portfolio turnover was 111%.
LUSOX Fees and Expenses
Annual operating expenses and sales charges of LUSOX. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 3.13% |
| Gross expense ratio | 4.22% |
| Fee waiver | −2.93% |
| Net expense ratio | 1.29% |
| 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 |
LUSOX Costs Over Time
On $10,000 invested in LUSOX, assuming 5% a year before costs, total costs come to $808 over 5 years, cutting the return by 1.36% 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 1.29%) | $135 | $421 | $728 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $136 | $445 | $808 |
| Value after costs | $10,364 | $11,131 | $11,955 |
| Impact on return, per year | 1.36% | 1.36% | 1.36% |
LUSOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0087%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $79.7M
- Portfolio turnover (prospectus): 111%
- Securities lending: none during the year
LUSOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $4K | 100.00% |
LUSOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $78.9M | 98.94% |
| Morgan Stanley & Co. LLC | $845K | 1.06% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.