LZUOX Fees and Costs — Lazard US Equity Focus Portfolio, Open Shares
Data updated: 2026-08-21
The net expense ratio is 0.95%: a 0.55% management fee, a 0.25% 12b-1 fee plus 0.56% other expenses, less a 0.41% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $9K in broker commissions, 0.0105% of average net assets, and portfolio turnover was 31%.
LZUOX Fees and Expenses
Annual operating expenses and sales charges of LZUOX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.56% |
| Gross expense ratio | 1.36% |
| Fee waiver | −0.41% |
| Net expense ratio | 0.95% |
| 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 |
LZUOX Costs Over Time
On $10,000 invested in LZUOX, assuming 5% a year before costs, total costs come to $601 over 5 years, cutting the return by 1.01% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $330 | $601 |
| Value after costs | $10,399 | $11,246 | $12,162 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
LZUOX 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): 0.0105%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $419.9M
- Portfolio turnover (prospectus): 31%
- Securities lending: none during the year
LZUOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BMO Capital Markets Corp. | $2K | 22.43% |
| Sanford C. Bernstein & Co., LLC | $2K | 21.34% |
| Citigroup Global Markets Inc. | $1K | 14.43% |
| Goldman Sachs & Co. LLC | $662 | 8.93% |
| Barclays Capital Inc. | $618 | 8.33% |
| BofA Securities, Inc. | $456 | 6.14% |
| Robert W. Baird & Co. Incorporated | $454 | 6.13% |
| UBS Securities LLC | $379 | 5.10% |
| J.P. Morgan Securities LLC | $318 | 4.29% |
| Wells Fargo Securities, LLC | $215 | 2.89% |
LZUOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $419.9M | 100.00% |
Lazard US Equity Focus Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LZUSX | Institutional Shares | 0.70% | — |
| RLUSX | R6 Shares | 0.70% | — |
| LZUOX | Open Shares | 0.95% | — |
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.