NRAAX Fees and Costs — Neuberger Berman Quality Equity Fund, Class A
Data updated: 2026-07-27
The net expense ratio is 1.05%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.05% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $213K in broker commissions, 0.0128% of average net assets, and portfolio turnover was 10%.
NRAAX Fees and Expenses
Annual operating expenses and sales charges of NRAAX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.05% |
| Gross expense ratio | 1.05% |
| Fee waiver | — |
| Net expense ratio | 1.05% |
| 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 |
NRAAX Costs Over Time
On $10,000 invested in NRAAX, assuming 5% a year before costs, total costs come to $1,360 over 5 years, cutting the return by 2.34% 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 1.05%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $29 | $107 | $216 |
| Total costs | $709 | $1,010 | $1,360 |
| Value after costs | $9,791 | $10,566 | $11,403 |
| Impact on return, per year | 7.09% | 3.15% | 2.34% |
NRAAX 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): 0.0128%
- Total broker commissions: $213K
- Bought from dealers (principal trades, not a cost): $652.9M
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
NRAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $45K | 22.12% |
| Raymond James & Associates, Inc. | $37K | 18.18% |
| BofA Securities, Inc. | $36K | 17.70% |
| Stifel, Nicolaus & Company, Incorporated | $26K | 13.06% |
| Wells Fargo Securities, LLC | $21K | 10.32% |
| Berenberg Capital Markets LLC | $11K | 5.58% |
| BNY Capital Markets, LLC | $9K | 4.50% |
| National Financial Services LLC | $8K | 3.82% |
| Goldman Sachs & Co. LLC | $5K | 2.48% |
| RBC Capital Markets, LLC | $5K | 2.24% |
NRAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $652.9M | 100.00% |
Neuberger Berman Quality Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NRAEX | Class E | 0.05% | — |
| NRSRX | Class R6 | 0.59% | — |
| NBSLX | Institutional Class | 0.69% | none |
| NBSRX | Investor Class | 0.86% | — |
| NBSTX | Trust Class | 1.04% | — |
| NRAAX | Class A | 1.05% | 5.75% |
| NRARX | Class R3 | 1.30% | — |
| NRACX | Class C | 1.80% | 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.