NMNAX Fees and Costs — Neuberger Berman Municipal Intermediate Bond Fund, Class A
Data updated: 2026-09-28
The net expense ratio is 0.67%: a 0.41% management fee, a 0.25% 12b-1 fee plus 0.23% other expenses, less a 0.22% fee waiver. This share class carries a maximum front-end sales load of 4.25%. Portfolio turnover was 83%.
NMNAX Fees and Expenses
Annual operating expenses and sales charges of NMNAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.41% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.23% |
| Gross expense ratio | 0.89% |
| Fee waiver | −0.22% |
| Net expense ratio | 0.67% |
| 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 |
NMNAX Costs Over Time
On $10,000 invested in NMNAX, assuming 5% a year before costs, total costs come to $946 over 5 years, cutting the return by 1.61% 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 0.67%) | $67 | $211 | $367 |
| Lost growth on money paid in costs | $21 | $77 | $154 |
| Total costs | $514 | $713 | $946 |
| Value after costs | $9,986 | $10,863 | $11,816 |
| Impact on return, per year | 5.14% | 2.20% | 1.61% |
NMNAX 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): $302.5M
- Portfolio turnover (prospectus): 83%
- Securities lending: none during the year
NMNAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $56.9M | 23.22% |
| ICE Bonds Securities Corporation | $39.3M | 16.05% |
| Jefferies LLC | $35.4M | 14.45% |
| Barclays Capital Inc. | $26.0M | 10.62% |
| Wells Fargo Securities, LLC | $19.0M | 7.75% |
| TD Securities (USA) LLC | $18.3M | 7.46% |
| U.S. Bancorp Investments, Inc. | $14.2M | 5.80% |
| Morgan Stanley & Co. LLC | $14.2M | 5.78% |
| BofA Securities, Inc. | $11.7M | 4.79% |
| RBC Capital Markets, LLC | $10.0M | 4.08% |
Neuberger Berman Municipal Intermediate Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NMNLX | Institutional Class | 0.30% | none |
| NMUIX | Investor Class | 0.45% | — |
| NMNAX | Class A | 0.67% | 4.25% |
| NMNCX | Class C | 1.42% | 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.