NPNEX Fees and Costs — Neuberger Berman Large Cap Value Fund, Class E
Data updated: 2026-07-27
The net expense ratio is 0.03%: a 0.42% management fee plus 0.03% other expenses, less a 0.42% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $5.6M in broker commissions, 0.0654% of average net assets, and portfolio turnover was 106%.
NPNEX Fees and Expenses
Annual operating expenses and sales charges of NPNEX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.42% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.45% |
| Fee waiver | −0.42% |
| Net expense ratio | 0.03% |
| 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 | Yes |
NPNEX Costs Over Time
On $10,000 invested in NPNEX, assuming 5% a year before costs, total costs come to $61 over 5 years, cutting the return by 0.10% 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 0.03%) | $3 | $10 | $17 |
| Trading costs (broker commissions) | $7 | $22 | $38 |
| Lost growth on money paid in costs | $0 | $2 | $6 |
| Total costs | $10 | $33 | $61 |
| Value after costs | $10,490 | $11,543 | $12,702 |
| Impact on return, per year | 0.10% | 0.10% | 0.10% |
NPNEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0654%
- Total broker commissions: $5.6M
- Bought from dealers (principal trades, not a cost): $6.7B
- Portfolio turnover (prospectus): 106%
- Securities on loan, average value: $8.2M
- Net income from securities lending: $18K (0.000% of average net assets)
NPNEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $1.2M | 25.77% |
| National Financial Services LLC | $762K | 16.41% |
| Goldman Sachs & Co. LLC | $473K | 10.19% |
| Nomura Securities International, Inc. | $416K | 8.98% |
| BNY Capital Markets, LLC | $341K | 7.34% |
| Raymond James & Associates, Inc. | $326K | 7.02% |
| BofA Securities, Inc. | $315K | 6.79% |
| BMO Capital Markets Corp. | $279K | 6.02% |
| Wells Fargo Securities, LLC | $267K | 5.76% |
| Stifel, Nicolaus & Company, Incorporated | $266K | 5.72% |
NPNEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $6.7B | 99.98% |
| Morgan Stanley & Co. LLC | $497K | 0.01% |
| Goldman Sachs & Co. LLC | $418K | 0.01% |
| BNY Capital Markets, LLC | $262K | 0.00% |
| Jefferies LLC | $211K | 0.00% |
| National Financial Services LLC | $44K | 0.00% |
Neuberger Berman Large Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NPNEX | Class E | 0.03% | — |
| NRLCX | Class R6 | 0.50% | — |
| NBPIX | Institutional Class | 0.60% | none |
| NPRTX | Investor Class | 0.75% | — |
| NBPTX | Trust Class | 0.95% | — |
| NPNAX | Class A | 0.97% | 5.75% |
| NBPBX | Advisor Class | 1.10% | — |
| NPNRX | Class R3 | 1.24% | — |
| NPNCX | Class C | 1.72% | 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.