NIOAX Fees and Costs — Neuberger Berman International Small Cap Fund, Class A
Data updated: 2025-04-28
The net expense ratio is 1.42%: a 1.11% management fee, a 0.25% 12b-1 fee plus 8.77% other expenses, less a 8.71% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2024 the fund paid $3K in broker commissions, 0.0736% of average net assets, and portfolio turnover was 43%.
NIOAX Fees and Expenses
Annual operating expenses and sales charges of NIOAX. Prospectus, as of November 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.11% |
| 12b-1 fee | 0.25% |
| Other expenses | 8.77% |
| Gross expense ratio | 10.13% |
| Fee waiver | −8.71% |
| Net expense ratio | 1.42% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
NIOAX Costs Over Time
On $10,000 invested in NIOAX, assuming 5% a year before costs, total costs come to $1,606 over 5 years, cutting the return by 2.79% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.42%) | $141 | $436 | $753 |
| Trading costs (broker commissions) | $7 | $23 | $39 |
| Lost growth on money paid in costs | $29 | $113 | $239 |
| Total costs | $752 | $1,147 | $1,606 |
| Value after costs | $9,748 | $10,429 | $11,157 |
| Impact on return, per year | 7.52% | 3.59% | 2.79% |
NIOAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0736%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $1.8M
- Portfolio turnover (prospectus): 43%
- Securities on loan, average value: $215K
- Net income from securities lending: $4K (0.114% of average net assets)
NIOAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $796 | 31.12% |
| BofA Securities, Inc. | $638 | 24.96% |
| Morgan Stanley & Co. LLC | $433 | 16.92% |
| J.P. Morgan Securities LLC | $211 | 8.23% |
| Citigroup Global Markets Inc. | $149 | 5.82% |
| Nomura Securities International, Inc. | $119 | 4.64% |
| Scotia Capital (USA) Inc. | $77 | 3.03% |
| RBC Capital Markets, LLC | $57 | 2.21% |
| Carnegie, Inc. | $41 | 1.59% |
| HSBC Securities (USA) Inc. | $38 | 1.49% |
NIOAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.8M | 99.00% |
| J.P. Morgan Securities LLC | $11K | 0.60% |
| SMBC Nikko Securities America, Inc. | $7K | 0.41% |
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.