BAFDX Fees and Costs — Brown Advisory Equity Income Fund, Institutional Shares
Data updated: 2024-02-28
The net expense ratio is 0.77% (0.82% before fee waivers). This share class carries a redemption fee of 1.00%. In fiscal 2023 the fund paid $8K in broker commissions, 0.0100% of average net assets, and portfolio turnover was 6%.
BAFDX Fees and Expenses
Annual operating expenses and sales charges of BAFDX. Prospectus, as of October 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.82% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.77% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
BAFDX Costs Over Time
On $10,000 invested in BAFDX, assuming 5% a year before costs, total costs come to $490 over 5 years, cutting the return by 0.82% 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 0.77%) | $81 | $253 | $439 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $82 | $269 | $490 |
| Value after costs | $10,418 | $11,307 | $12,273 |
| Impact on return, per year | 0.82% | 0.82% | 0.82% |
BAFDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0100%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 6%
- Securities lending: none during the year
BAFDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NATIONAL FINANCIAL SERVICES LLC | $1K | 18.62% |
| RAYMOND JAMES & ASSOCIATES INC. | $871 | 12.57% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $798 | 11.52% |
| J.P. MORGAN SECURITIES LLC | $759 | 10.96% |
| STIFEL NICOLAUS & COMPANY INCORPORATED | $747 | 10.78% |
| WILLIAM BLAIR & COMPANY L.L.C. | $603 | 8.70% |
| SANFORD C. BERNSTEIN & CO. LLC | $578 | 8.34% |
| BARCLAYS CAPITAL INC. | $545 | 7.87% |
| MORGAN STANLEY & CO. LLC | $376 | 5.43% |
| JEFFERIES LLC | $361 | 5.21% |
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.