BFTHX Fees and Costs — Baron Fifth Avenue Growth Fund, Retail Shares
Data updated: 2026-08-28
The net expense ratio is 1.00%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.08% other expenses, less a 0.03% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $70K in broker commissions, 0.0099% of average net assets, and portfolio turnover was 19%.
BFTHX Fees and Expenses
Annual operating expenses and sales charges of BFTHX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.08% |
| Gross expense ratio | 1.03% |
| Fee waiver | −0.03% |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
BFTHX Costs Over Time
On $10,000 invested in BFTHX, assuming 5% a year before costs, total costs come to $632 over 5 years, cutting the return by 1.06% 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 1.00%) | $105 | $328 | $568 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $106 | $347 | $632 |
| Value after costs | $10,394 | $11,229 | $12,131 |
| Impact on return, per year | 1.06% | 1.06% | 1.06% |
BFTHX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0099%
- Total broker commissions: $70K
- Bought from dealers (principal trades, not a cost): $1.4B
- Portfolio turnover (prospectus): 19%
- Securities lending: none during the year
BFTHX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $5K | 12.44% |
| Morgan Stanley & Co. LLC | $5K | 11.79% |
| Wells Fargo Securities, LLC | $5K | 11.48% |
| BofA Securities, Inc. | $4K | 10.84% |
| Sanford C. Bernstein & Co., LLC | $4K | 10.28% |
| UBS Securities LLC | $4K | 9.58% |
| KeyBanc Capital Markets Inc. | $4K | 9.57% |
| Stifel, Nicolaus & Company, Incorporated | $4K | 9.19% |
| Jefferies LLC | $3K | 7.80% |
| Goldman Sachs & Co. LLC | $3K | 7.02% |
BFTHX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.4B | 99.89% |
| Morgan Stanley & Co. LLC | $1.6M | 0.11% |
Baron Fifth Avenue Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BFTIX | Institutional Shares | 0.75% | — |
| BFTUX | R6 Shares | 0.75% | — |
| BFTHX | Retail Shares | 1.00% | — |
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.