NRAEX Fees and Costs — Neuberger Berman Quality Equity Fund, Class E
Data updated: 2026-07-27
The net expense ratio is 0.05%: a 0.49% management fee plus 0.05% other expenses, less a 0.49% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $213K in broker commissions, 0.0128% of average net assets, and portfolio turnover was 10%.
NRAEX Fees and Expenses
Annual operating expenses and sales charges of NRAEX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.54% |
| Fee waiver | −0.49% |
| Net expense ratio | 0.05% |
| 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 |
NRAEX Costs Over Time
On $10,000 invested in NRAEX, assuming 5% a year before costs, total costs come to $40 over 5 years, cutting the return by 0.07% 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 0.05%) | $5 | $17 | $29 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $1 | $4 |
| Total costs | $7 | $22 | $40 |
| Value after costs | $10,493 | $11,554 | $12,723 |
| Impact on return, per year | 0.07% | 0.07% | 0.07% |
NRAEX 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
NRAEX 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% |
NRAEX 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.