NREEX Fees and Costs — Neuberger Berman Real Estate Fund, Class E
Data updated: 2026-07-27
The net expense ratio is 0.08%: a 0.80% management fee plus 0.08% other expenses, less a 0.80% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $393K in broker commissions, 0.0541% of average net assets, and portfolio turnover was 57%.
NREEX Fees and Expenses
Annual operating expenses and sales charges of NREEX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.08% |
| Gross expense ratio | 0.88% |
| Fee waiver | −0.80% |
| Net expense ratio | 0.08% |
| 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 |
NREEX Costs Over Time
On $10,000 invested in NREEX, assuming 5% a year before costs, total costs come to $85 over 5 years, cutting the return by 0.14% 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 0.08%) | $8 | $26 | $46 |
| Trading costs (broker commissions) | $6 | $18 | $31 |
| Lost growth on money paid in costs | $0 | $2 | $8 |
| Total costs | $14 | $47 | $85 |
| Value after costs | $10,486 | $11,530 | $12,677 |
| Impact on return, per year | 0.14% | 0.14% | 0.14% |
NREEX 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
NREEX 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% |
NREEX 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.