NSNAX Fees and Costs — Neuberger Berman Small Cap Growth Fund, Class A
Data updated: 2026-07-27
The net expense ratio is 1.27%: a 1.09% management fee, a 0.25% 12b-1 fee plus 0.16% other expenses, less a 0.23% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $466K in broker commissions, 0.1043% of average net assets, and portfolio turnover was 150%.
NSNAX Fees and Expenses
Annual operating expenses and sales charges of NSNAX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.09% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.16% |
| Gross expense ratio | 1.50% |
| Fee waiver | −0.23% |
| Net expense ratio | 1.27% |
| 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 |
NSNAX Costs Over Time
On $10,000 invested in NSNAX, assuming 5% a year before costs, total costs come to $1,538 over 5 years, cutting the return by 2.66% 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 1.27%) | $126 | $391 | $675 |
| Trading costs (broker commissions) | $10 | $32 | $55 |
| Lost growth on money paid in costs | $29 | $112 | $233 |
| Total costs | $740 | $1,109 | $1,538 |
| Value after costs | $9,760 | $10,467 | $11,225 |
| Impact on return, per year | 7.40% | 3.47% | 2.66% |
NSNAX 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): 0.1043%
- Total broker commissions: $466K
- Bought from dealers (principal trades, not a cost): $675.4M
- Portfolio turnover (prospectus): 150%
- Securities on loan, average value: $13.0M
- Net income from securities lending: $68K (0.015% of average net assets)
NSNAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNY Capital Markets, LLC | $84K | 24.46% |
| National Financial Services LLC | $75K | 21.81% |
| BofA Securities, Inc. | $37K | 10.83% |
| Wells Fargo Securities, LLC | $29K | 8.26% |
| Goldman Sachs & Co. LLC | $25K | 7.35% |
| Morgan Stanley & Co. LLC | $20K | 5.82% |
| Stifel, Nicolaus & Company, Incorporated | $20K | 5.70% |
| UBS Securities LLC | $19K | 5.43% |
| Cowen and Company, LLC | $18K | 5.18% |
| Jefferies LLC | $18K | 5.16% |
NSNAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $665.6M | 98.54% |
| J.P. Morgan Securities LLC | $5.8M | 0.86% |
| Citigroup Global Markets Inc. | $1.8M | 0.27% |
| BofA Securities, Inc. | $1.5M | 0.22% |
| Morgan Stanley & Co. LLC | $588K | 0.09% |
| Barclays Capital Inc. | $115K | 0.02% |
Neuberger Berman Small Cap Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NSRSX | Class R6 | 0.81% | — |
| NBSMX | Institutional Class | 0.91% | none |
| NSNAX | Class A | 1.27% | 5.75% |
| NBMIX | Investor Class | 1.31% | — |
| NBMOX | Trust Class | 1.41% | — |
| NSNRX | Class R3 | 1.52% | — |
| NBMVX | Advisor Class | 1.61% | — |
| NSNCX | Class C | 2.02% | 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.