BAFHX Fees and Costs — Brown Advisory - WMC Strategic European Equity Fund, Institutional Shares
Data updated: 2026-09-11
The net expense ratio is 1.05%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $342K in broker commissions, 0.0474% of average net assets, and portfolio turnover was 47%.
BAFHX Fees and Expenses
Annual operating expenses and sales charges of BAFHX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 1.05% |
| Fee waiver | — |
| Net expense ratio | 1.05% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
BAFHX Costs Over Time
On $10,000 invested in BAFHX, assuming 5% a year before costs, total costs come to $685 over 5 years, cutting the return by 1.15% 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 1.05%) | $110 | $344 | $595 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $115 | $377 | $685 |
| Value after costs | $10,385 | $11,199 | $12,078 |
| Impact on return, per year | 1.15% | 1.15% | 1.15% |
BAFHX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0474%
- Total broker commissions: $342K
- Bought from dealers (principal trades, not a cost): $4.2M
- Portfolio turnover (prospectus): 47%
- Securities lending: none during the year
BAFHX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $63K | 20.37% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $44K | 14.17% |
| MORGAN STANLEY & CO. LLC | $39K | 12.73% |
| JEFFERIES LLC | $37K | 11.88% |
| BNP PARIBAS SECURITIES CORP. | $31K | 10.00% |
| UBS FINANCIAL SERVICES INC. | $31K | 10.00% |
| BARCLAYS CAPITAL INC. | $20K | 6.51% |
| CITIGROUP GLOBAL MARKETS INC. | $19K | 6.26% |
| GOLDMAN SACHS & CO. LLC | $15K | 4.95% |
| SG AMERICAS SECURITIES LLC | $10K | 3.12% |
BAFHX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $2.4M | 58.24% |
| GOLDMAN SACHS & CO. LLC | $1.8M | 41.76% |
Brown Advisory - WMC Strategic European Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BAFHX | Institutional Shares | 1.05% | none |
| BIAHX | Investor Shares | 1.20% | none |
| BAHAX | Advisor Shares | 1.45% | 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.