NRECX Fees and Costs — Neuberger Berman Real Estate Fund, Class C
Data updated: 2026-07-27
The net expense ratio is 1.96%: a 1.06% management fee, a 1.00% 12b-1 fee plus 0.10% other expenses, less a 0.20% fee waiver. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $393K in broker commissions, 0.0541% of average net assets, and portfolio turnover was 57%.
NRECX Fees and Expenses
Annual operating expenses and sales charges of NRECX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.06% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.10% |
| Gross expense ratio | 2.16% |
| Fee waiver | −0.20% |
| Net expense ratio | 1.96% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
NRECX Costs Over Time
On $10,000 invested in NRECX, assuming 5% a year before costs, total costs come to $1,235 over 5 years, cutting the return by 2.11% 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 | $103 | $0 | $0 |
| Fund expenses (net expense ratio 1.96%) | $206 | $635 | $1,090 |
| Trading costs (broker commissions) | $6 | $18 | $30 |
| Lost growth on money paid in costs | $0 | $33 | $114 |
| Total costs | $314 | $685 | $1,235 |
| Value after costs | $10,186 | $10,891 | $11,528 |
| Impact on return, per year | 3.14% | 2.11% | 2.11% |
NRECX 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): 0.0541%
- Total broker commissions: $393K
- Bought from dealers (principal trades, not a cost): $286.0M
- Portfolio turnover (prospectus): 57%
- Securities lending: none during the year
NRECX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Stifel, Nicolaus & Company, Incorporated | $76K | 21.64% |
| Citigroup Global Markets Inc. | $52K | 14.79% |
| National Financial Services LLC | $47K | 13.28% |
| BofA Securities, Inc. | $46K | 13.18% |
| BMO Capital Markets Corp. | $32K | 9.22% |
| BNY Capital Markets, LLC | $25K | 7.08% |
| Goldman Sachs & Co. LLC | $22K | 6.39% |
| Jefferies LLC | $21K | 5.99% |
| Deutsche Bank Securities Inc. | $17K | 4.82% |
| Raymond James & Associates, Inc. | $13K | 3.62% |
NRECX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $262.2M | 91.68% |
| BofA Securities, Inc. | $12.6M | 4.39% |
| CIBC World Markets Corp. | $6.8M | 2.37% |
| Morgan Stanley & Co. LLC | $4.5M | 1.56% |
Neuberger Berman Real Estate Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NREEX | Class E | 0.08% | — |
| NRREX | Class R6 | 0.75% | — |
| NBRIX | Institutional Class | 0.85% | none |
| NREAX | Class A | 1.21% | 5.75% |
| NBRFX | Trust Class | 1.40% | — |
| NRERX | Class R3 | 1.46% | — |
| NRECX | Class C | 1.96% | 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.