BGAFX Fees and Costs — Baron Global Opportunity Fund, Retail Shares
Data updated: 2026-08-28
The net expense ratio is 1.15%: a 0.85% management fee, a 0.25% 12b-1 fee plus 0.11% other expenses, less a 0.06% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $81K in broker commissions, 0.0129% of average net assets, and portfolio turnover was 9%.
BGAFX Fees and Expenses
Annual operating expenses and sales charges of BGAFX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.21% |
| Fee waiver | −0.06% |
| Net expense ratio | 1.15% |
| 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 |
BGAFX Costs Over Time
On $10,000 invested in BGAFX, assuming 5% a year before costs, total costs come to $725 over 5 years, cutting the return by 1.22% 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) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $122 | $399 | $725 |
| Value after costs | $10,378 | $11,177 | $12,038 |
| Impact on return, per year | 1.22% | 1.22% | 1.22% |
BGAFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0129%
- Total broker commissions: $81K
- Bought from dealers (principal trades, not a cost): $768.6M
- Portfolio turnover (prospectus): 9%
- Securities on loan, average value: $0
- Net income from securities lending: $22K (0.003% of average net assets)
BGAFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $19K | 33.10% |
| BofA Securities, Inc. | $7K | 12.09% |
| Jefferies LLC | $5K | 9.62% |
| Itau International Securities Inc. | $5K | 9.44% |
| Sanford C. Bernstein & Co., LLC | $4K | 6.93% |
| State Street Global Markets, LLC | $4K | 6.89% |
| Nomura Securities International, Inc. | $4K | 6.85% |
| Craig-Hallum Capital Group LLC | $3K | 5.24% |
| Needham & Company, LLC | $3K | 5.19% |
| Barclays Capital Inc. | $3K | 4.66% |
BGAFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $756.2M | 98.38% |
| Jefferies LLC | $5.9M | 0.76% |
| Morgan Stanley & Co. LLC | $4.4M | 0.57% |
| J.P. Morgan Securities LLC | $2.2M | 0.29% |
Baron Global Opportunity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BGAIX | Institutional Shares | 0.90% | — |
| BGLUX | R6 Shares | 0.90% | — |
| BGAFX | Retail Shares | 1.15% | — |
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.