BAUUX Fees and Costs — Brown Advisory Small-Cap Fundamental Value Fund, Institutional Shares
Data updated: 2026-09-11
The net expense ratio is 1.01%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.1M in broker commissions, 0.0907% of average net assets, and portfolio turnover was 39%.
BAUUX Fees and Expenses
Annual operating expenses and sales charges of BAUUX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.96% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.01% |
| 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 |
BAUUX Costs Over Time
On $10,000 invested in BAUUX, assuming 5% a year before costs, total costs come to $687 over 5 years, cutting the return by 1.16% 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 1.01%) | $106 | $331 | $573 |
| Trading costs (broker commissions) | $10 | $30 | $51 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $378 | $687 |
| Value after costs | $10,384 | $11,198 | $12,076 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
BAUUX 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): 0.0907%
- Total broker commissions: $1.1M
- Bought from dealers (principal trades, not a cost): $5.5M
- Portfolio turnover (prospectus): 39%
- Securities lending: none during the year
BAUUX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STIFEL NICOLAUS & COMPANY INCORPORATED | $197K | 24.39% |
| JEFFERIES LLC | $128K | 15.81% |
| MORGAN STANLEY & CO. LLC | $122K | 15.08% |
| PERSHING LLC | $102K | 12.61% |
| J.P. MORGAN SECURITIES LLC | $49K | 6.04% |
| BNY MELLON CAPITAL MARKETS LLC | $49K | 6.02% |
| ACADEMY SECURITIES INC. | $43K | 5.38% |
| SG AMERICAS SECURITIES LLC | $43K | 5.33% |
| WELLS FARGO SECURITIES LLC | $38K | 4.76% |
| CITIGROUP GLOBAL MARKETS INC. | $37K | 4.58% |
BAUUX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $5.5M | 100.00% |
Brown Advisory Small-Cap Fundamental Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BAUUX | Institutional Shares | 1.01% | none |
| BIAUX | Investor Shares | 1.16% | none |
| BAUAX | Advisor Shares | 1.41% | 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.