BAFLX Fees and Costs — Brown Advisory Global Leaders Fund, Institutional Shares
Data updated: 2026-09-11
The net expense ratio is 0.76%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.3M in broker commissions, 0.0537% of average net assets, and portfolio turnover was 22%.
BAFLX Fees and Expenses
Annual operating expenses and sales charges of BAFLX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.76% |
| Fee waiver | — |
| Net expense ratio | 0.76% |
| 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 |
BAFLX Costs Over Time
On $10,000 invested in BAFLX, assuming 5% a year before costs, total costs come to $511 over 5 years, cutting the return by 0.85% 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 0.76%) | $80 | $249 | $433 |
| Trading costs (broker commissions) | $6 | $18 | $31 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $85 | $280 | $511 |
| Value after costs | $10,415 | $11,296 | $12,252 |
| Impact on return, per year | 0.85% | 0.85% | 0.85% |
BAFLX 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): 0.0537%
- Total broker commissions: $1.3M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 22%
- Securities lending: none during the year
BAFLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $602K | 48.92% |
| JEFFERIES LLC | $136K | 11.04% |
| MORGAN STANLEY & CO. LLC | $110K | 8.96% |
| UBS FINANCIAL SERVICES INC. | $77K | 6.26% |
| CLSA AMERICAS LLC | $76K | 6.17% |
| PERSHING LLC | $67K | 5.48% |
| J.P. MORGAN SECURITIES LLC | $64K | 5.23% |
| RBC CAPITAL MARKETS LLC | $49K | 3.97% |
| CITIGROUP GLOBAL MARKETS INC. | $31K | 2.55% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $17K | 1.42% |
Brown Advisory Global Leaders Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BAFLX | Institutional Shares | 0.76% | none |
| BIALX | Investor Shares | 0.91% | 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.