BCMSX Fees and Costs — Brown Capital Management Mid Company Fund, Investor Class
Data updated: 2024-08-29
The net expense ratio is 1.15%: a 0.75% management fee, a 0.25% 12b-1 fee plus 1.06% other expenses, less a 0.91% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $13K in broker commissions, 0.0205% of average net assets, and portfolio turnover was 18%.
BCMSX Fees and Expenses
Annual operating expenses and sales charges of BCMSX. Prospectus, as of July 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.06% |
| Gross expense ratio | 2.06% |
| Fee waiver | −0.91% |
| Net expense ratio | 1.15% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
BCMSX Costs Over Time
On $10,000 invested in BCMSX, assuming 5% a year before costs, total costs come to $730 over 5 years, cutting the return by 1.23% 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 1.15%) | $121 | $376 | $651 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $123 | $402 | $730 |
| Value after costs | $10,377 | $11,174 | $12,033 |
| Impact on return, per year | 1.23% | 1.23% | 1.23% |
BCMSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0205%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 18%
- Securities lending: none during the year
BCMSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays | $11K | 86.00% |
| Goldman Sachs & Co. LLC | $610 | 4.64% |
| Raymond James & Associates, Inc. | $412 | 3.14% |
| Morgan Stanley | $302 | 2.30% |
| Piper Sandler & Co. | $295 | 2.24% |
| ITG Derivatives, LLC. | $196 | 1.49% |
| Loop Capital Markets LLC | $25 | 0.19% |
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.