UMNOX Fees and Costs — Lazard US Short Duration Fixed Income Portfolio, Open Shares
Data updated: 2026-05-28
The net expense ratio is 0.65%: a 0.25% management fee, a 0.25% 12b-1 fee plus 26.19% other expenses, less a 26.04% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 164%.
UMNOX Fees and Expenses
Annual operating expenses and sales charges of UMNOX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.25% |
| Other expenses | 26.19% |
| Gross expense ratio | 26.69% |
| Fee waiver | −26.04% |
| Net expense ratio | 0.65% |
| 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 |
UMNOX Costs Over Time
On $10,000 invested in UMNOX, assuming 5% a year before costs, total costs come to $409 over 5 years, cutting the return by 0.68% 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 0.65%) | $68 | $214 | $372 |
| Lost growth on money paid in costs | $0 | $11 | $37 |
| Total costs | $68 | $224 | $409 |
| Value after costs | $10,432 | $11,352 | $12,353 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
UMNOX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $172.8M
- Portfolio turnover (prospectus): 164%
- Securities lending: none during the year
UMNOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $68.4M | 41.96% |
| Citadel Securities LLC | $36.5M | 22.36% |
| TD Securities (USA) LLC | $15.1M | 9.28% |
| BMO Capital Markets Corp. | $9.4M | 5.75% |
| Barclays Capital Inc. | $7.6M | 4.68% |
| RBC Capital Markets, LLC | $7.6M | 4.66% |
| Federal Reserve Bank of Boston | $6.1M | 3.73% |
| Morgan Stanley & Co. LLC | $5.4M | 3.29% |
| BNP Paribas Securities Corp. | $3.7M | 2.27% |
| HSBC Securities (USA) Inc. | $3.3M | 2.04% |
Lazard US Short Duration Fixed Income Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RLSDX | C000134199 | 0.35% | — |
| UMNIX | Institutional Shares | 0.40% | — |
| UMNOX | Open Shares | 0.65% | — |
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.