BGAVX Fees and Costs — Baillie Gifford Global Alpha Equities Fund
Data updated: 2026-08-24
The net expense ratio is 0.51%: a 0.40% management fee, a 0.02% 12b-1 fee plus 0.09% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $183K in broker commissions, 0.0300% of average net assets, and portfolio turnover was 30%.
BGAVX Fees and Expenses
Annual operating expenses and sales charges of BGAVX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.02% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.51% |
| Fee waiver | — |
| Net expense ratio | 0.51% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BGAVX Costs Over Time
On $10,000 invested in BGAVX, assuming 5% a year before costs, total costs come to $341 over 5 years, cutting the return by 0.57% 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 0.51%) | $54 | $168 | $293 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $57 | $187 | $341 |
| Value after costs | $10,443 | $11,390 | $12,422 |
| Impact on return, per year | 0.57% | 0.57% | 0.57% |
BGAVX 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): 0.0300%
- Total broker commissions: $183K
- Bought from dealers (principal trades, not a cost): $9.2M
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
BGAVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $58K | 40.63% |
| JEFFERIES LLC | $25K | 17.49% |
| BOFA SECURITIES, INC. | $13K | 8.79% |
| GOLDMAN SACHS & CO. LLC | $9K | 6.18% |
| J.P. Morgan Securities LLC | $8K | 5.94% |
| Robert W. Baird & Co. Incorporated | $8K | 5.27% |
| SG AMERICAS SECURITIES LLC | $6K | 4.38% |
| BNP PARIBAS SECURITIES CORP. | $6K | 4.05% |
| UBS Securities LLC | $6K | 3.87% |
| REDBURN (USA) LLC | $5K | 3.40% |
BGAVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $6.9M | 75.55% |
| GOLDMAN SACHS & CO. LLC | $2.2M | 24.45% |
Baillie Gifford Global Alpha Equities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BGAVX | C000116269 | 0.51% | — |
| BGALX | Class 4 | 0.56% | — |
| BGAEX | Class 3 | 0.59% | — |
| BGAKX | Class K | 0.66% | — |
| BGATX | Class 2 | 0.66% | — |
| BGASX | Institutional Class | 0.74% | — |
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.