RLZFX Fees and Costs — Lazard Equity Franchise Portfolio
Data updated: 2026-08-21
The net expense ratio is 0.90%: a 0.80% management fee plus 0.26% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $151K in broker commissions, 0.1690% of average net assets, and portfolio turnover was 96%.
RLZFX Fees and Expenses
Annual operating expenses and sales charges of RLZFX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.26% |
| Gross expense ratio | 1.06% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.90% |
| 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 | No |
RLZFX Costs Over Time
On $10,000 invested in RLZFX, assuming 5% a year before costs, total costs come to $668 over 5 years, cutting the return by 1.12% 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 0.90%) | $94 | $295 | $511 |
| Trading costs (broker commissions) | $18 | $55 | $96 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $112 | $367 | $668 |
| Value after costs | $10,388 | $11,209 | $12,095 |
| Impact on return, per year | 1.12% | 1.12% | 1.12% |
RLZFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1690%
- Total broker commissions: $151K
- Bought from dealers (principal trades, not a cost): $498.0M
- Portfolio turnover (prospectus): 96%
- Securities lending: none during the year
RLZFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $26K | 22.15% |
| TD Securities (USA) LLC | $21K | 17.85% |
| Jefferies LLC | $13K | 10.84% |
| Barclays Capital Inc. | $11K | 9.23% |
| Citigroup Global Markets Inc. | $10K | 8.55% |
| BMO Capital Markets Corp. | $9K | 7.75% |
| UBS Securities LLC | $8K | 6.75% |
| Goldman Sachs & Co. LLC | $8K | 6.60% |
| BofA Securities, Inc. | $6K | 5.29% |
| J.P. Morgan Securities LLC | $6K | 5.01% |
RLZFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $498.0M | 100.00% |
Lazard Equity Franchise Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RLZFX | C000193737 | 0.90% | — |
| LZFIX | Institutional Shares | 0.95% | — |
| LZFOX | Open Shares | 1.20% | — |
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.