BAFTX Fees and Costs — Brown Advisory Total Return Fund, Institutional Shares
Data updated: 2023-05-26
The net expense ratio is 0.42%: a 0.30% management fee plus 0.12% other expenses. This share class carries a redemption fee of 1.00%. In fiscal 2022 the fund paid $48K in broker commissions, 0.0109% of average net assets, and portfolio turnover was 131%.
BAFTX Fees and Expenses
Annual operating expenses and sales charges of BAFTX. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.42% |
| Fee waiver | — |
| Net expense ratio | 0.42% |
| 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 | No |
| Waived fees subject to recoupment | Yes |
BAFTX Costs Over Time
On $10,000 invested in BAFTX, assuming 5% a year before costs, total costs come to $273 over 5 years, cutting the return by 0.45% 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 0.42%) | $44 | $138 | $241 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $45 | $149 | $273 |
| Value after costs | $10,455 | $11,427 | $12,490 |
| Impact on return, per year | 0.45% | 0.45% | 0.45% |
BAFTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0109%
- Total broker commissions: $48K
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 131%
- Securities lending: none during the year
BAFTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE SECURITIES (USA) LLC | $38K | 80.09% |
| RBC CAPITAL MARKETS LLC | $10K | 19.91% |
BAFTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $508.6M | 47.98% |
| MORGAN STANLEY & CO. LLC | $117.3M | 11.06% |
| WELLS FARGO SECURITIES LLC | $94.6M | 8.93% |
| GOLDMAN SACHS & CO. LLC | $87.1M | 8.22% |
| NOMURA SECURITIES INTERNATIONAL INC. | $54.3M | 5.12% |
| BOFA SECURITIES INC. | $47.0M | 4.44% |
| U.S. BANCORP INVESTMENTS INC. | $44.2M | 4.17% |
| JANNEY MONTGOMERY SCOTT LLC | $39.8M | 3.76% |
| J.P. MORGAN SECURITIES LLC | $35.0M | 3.30% |
| BARCLAYS CAPITAL INC. | $32.0M | 3.02% |
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.