LZCOX Fees and Costs — Lazard US Small Cap Equity Select Portfolio, Open Shares
Data updated: 2026-08-21
The net expense ratio is 1.20%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.59% other expenses, less a 0.39% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $52K in broker commissions, 0.1505% of average net assets, and portfolio turnover was 100%.
LZCOX Fees and Expenses
Annual operating expenses and sales charges of LZCOX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.59% |
| Gross expense ratio | 1.59% |
| Fee waiver | −0.39% |
| Net expense ratio | 1.20% |
| 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 |
LZCOX Costs Over Time
On $10,000 invested in LZCOX, assuming 5% a year before costs, total costs come to $839 over 5 years, cutting the return by 1.42% 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 1.20%) | $126 | $392 | $677 |
| Trading costs (broker commissions) | $16 | $49 | $85 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $142 | $463 | $839 |
| Value after costs | $10,358 | $11,114 | $11,924 |
| Impact on return, per year | 1.42% | 1.42% | 1.42% |
LZCOX 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): 0.1505%
- Total broker commissions: $52K
- Bought from dealers (principal trades, not a cost): $9.0M
- Portfolio turnover (prospectus): 100%
- Securities lending: none during the year
LZCOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $10K | 22.30% |
| BofA Securities, Inc. | $6K | 12.80% |
| Barclays Capital Inc. | $5K | 11.82% |
| J.P. Morgan Securities LLC | $5K | 10.99% |
| Citigroup Global Markets Inc. | $5K | 10.18% |
| UBS Securities LLC | $4K | 9.95% |
| TD Securities (USA) LLC | $3K | 6.18% |
| Liquidnet, Inc. | $2K | 5.48% |
| Morgan Stanley & Co. LLC | $2K | 5.39% |
| Wells Fargo Securities, LLC | $2K | 4.92% |
LZCOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $7.7M | 86.10% |
| J.P. Morgan Securities LLC | $518K | 5.76% |
| Morgan Stanley & Co. LLC | $317K | 3.53% |
| Jefferies LLC | $222K | 2.47% |
| BofA Securities, Inc. | $111K | 1.24% |
| Raymond James & Associates, Inc. | $42K | 0.47% |
| Goldman Sachs & Co. LLC | $40K | 0.44% |
Lazard US Small Cap Equity Select Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RLSMX | R6 Shares | 0.90% | — |
| LZSCX | Institutional Shares | 0.95% | — |
| LZCOX | Open Shares | 1.20% | — |
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.