BGCDX Fees and Costs — Baillie Gifford China Equities Fund, Class K
Data updated: 2026-08-24
The net expense ratio is 0.87%: a 0.72% management fee plus 7.75% other expenses, less a 7.60% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $363 in broker commissions, 0.0123% of average net assets, and portfolio turnover was 13%.
BGCDX Fees and Expenses
Annual operating expenses and sales charges of BGCDX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.00% |
| Other expenses | 7.75% |
| Gross expense ratio | 8.47% |
| Fee waiver | −7.60% |
| Net expense ratio | 0.87% |
| 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 |
BGCDX Costs Over Time
On $10,000 invested in BGCDX, assuming 5% a year before costs, total costs come to $553 over 5 years, cutting the return by 0.93% 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 0.87%) | $91 | $285 | $496 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $14 | $51 |
| Total costs | $93 | $304 | $553 |
| Value after costs | $10,407 | $11,273 | $12,210 |
| Impact on return, per year | 0.93% | 0.93% | 0.93% |
BGCDX 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): 0.0123%
- Total broker commissions: $363
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 13%
- Securities lending: none during the year
BGCDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $97 | 26.87% |
| China International Capital Corporation Limited | $57 | 15.79% |
| JEFFERIES LLC | $50 | 13.85% |
| SG AMERICAS SECURITIES LLC | $40 | 11.08% |
| HSBC SECURITIES (USA) INC. | $29 | 8.03% |
| MORGAN STANLEY & CO. LLC | $28 | 7.76% |
| GOLDMAN SACHS & CO. LLC | $24 | 6.65% |
| UBS Securities LLC | $21 | 5.82% |
| J.P. Morgan Securities LLC | $9 | 2.49% |
| BNP PARIBAS SECURITIES CORP. | $6 | 1.66% |
Baillie Gifford China 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 |
|---|---|---|---|
| BGCDX | Class K | 0.87% | — |
| BGCBX | Institutional Class | 0.96% | — |
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.