NIMAX Fees and Costs — Neuberger Berman Municipal Impact Fund, Class A
Data updated: 2026-06-26
The net expense ratio is 0.80%: a 0.52% management fee, a 0.25% 12b-1 fee plus 1.37% other expenses, less a 1.34% fee waiver. This share class carries a maximum front-end sales load of 4.25%. Portfolio turnover was 48%.
NIMAX Fees and Expenses
Annual operating expenses and sales charges of NIMAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.52% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.37% |
| Gross expense ratio | 2.14% |
| Fee waiver | −1.34% |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | 4.25% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
NIMAX Costs Over Time
On $10,000 invested in NIMAX, assuming 5% a year before costs, total costs come to $1,023 over 5 years, cutting the return by 1.74% 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 |
| Sales charges | $425 | $425 | $425 |
| Fund expenses (net expense ratio 0.80%) | $80 | $251 | $437 |
| Lost growth on money paid in costs | $21 | $79 | $161 |
| Total costs | $527 | $756 | $1,023 |
| Value after costs | $9,973 | $10,820 | $11,739 |
| Impact on return, per year | 5.27% | 2.34% | 1.74% |
NIMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $72.5M
- Portfolio turnover (prospectus): 48%
- Securities lending: none during the year
NIMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $18.1M | 28.55% |
| Barclays Capital Inc. | $11.4M | 18.04% |
| Morgan Stanley & Co. LLC | $7.5M | 11.79% |
| U.S. Bancorp Investments, Inc. | $6.8M | 10.69% |
| Jefferies LLC | $5.0M | 7.81% |
| BNY Capital Markets, LLC | $4.1M | 6.43% |
| Wells Fargo Securities, LLC | $4.0M | 6.39% |
| TD Securities (USA) LLC | $2.6M | 4.10% |
| Deutsche Bank Securities Inc. | $2.1M | 3.28% |
| Samuel A. Ramirez & Company, Inc. | $1.9M | 2.92% |
Neuberger Berman Municipal Impact Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NMIIX | Institutional Class | 0.43% | none |
| NIMAX | Class A | 0.80% | 4.25% |
| NIMCX | Class C | 1.55% | 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.