LZIOX Fees and Costs — Lazard International Equity Portfolio, Open Shares
Data updated: 2026-08-21
The net expense ratio is 1.08%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.08% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $974K in broker commissions, 0.0890% of average net assets, and portfolio turnover was 45%.
LZIOX Fees and Expenses
Annual operating expenses and sales charges of LZIOX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.08% |
| Gross expense ratio | 1.08% |
| Fee waiver | — |
| Net expense ratio | 1.08% |
| 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 |
LZIOX Costs Over Time
On $10,000 invested in LZIOX, assuming 5% a year before costs, total costs come to $729 over 5 years, cutting the return by 1.23% 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 1.08%) | $113 | $353 | $611 |
| Trading costs (broker commissions) | $9 | $29 | $50 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $123 | $401 | $729 |
| Value after costs | $10,377 | $11,175 | $12,034 |
| Impact on return, per year | 1.23% | 1.23% | 1.23% |
LZIOX 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): 0.0890%
- Total broker commissions: $974K
- Bought from dealers (principal trades, not a cost): $4.9B
- Portfolio turnover (prospectus): 45%
- Securities lending: none during the year
LZIOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNP Paribas Securities Corp. | $159K | 20.82% |
| Barclays Capital Inc. | $136K | 17.83% |
| Jefferies LLC | $95K | 12.42% |
| BofA Securities, Inc. | $63K | 8.18% |
| UBS Securities LLC | $58K | 7.62% |
| HSBC Securities (USA) Inc. | $55K | 7.25% |
| Goldman Sachs & Co. LLC | $54K | 7.08% |
| CLSA Americas, LLC | $52K | 6.83% |
| SG Americas Securities, LLC | $51K | 6.65% |
| TD Securities (USA) LLC | $41K | 5.30% |
LZIOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $4.9B | 99.94% |
| Morgan Stanley & Co. LLC | $2.9M | 0.06% |
Lazard International 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 |
|---|---|---|---|
| RLIEX | R6 Shares | 0.80% | — |
| LZIEX | Institutional Shares | 0.83% | — |
| LZIOX | Open Shares | 1.08% | — |
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.