BGRFX Fees and Costs — Baron Growth Fund, Retail Shares
Data updated: 2026-08-28
The net expense ratio is 1.60%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.35% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $443K in broker commissions, 0.0070% of average net assets, and portfolio turnover was 1%.
BGRFX Fees and Expenses
Annual operating expenses and sales charges of BGRFX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.35% |
| Gross expense ratio | 1.60% |
| Fee waiver | — |
| Net expense ratio | 1.60% |
| 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 |
BGRFX Costs Over Time
On $10,000 invested in BGRFX, assuming 5% a year before costs, total costs come to $993 over 5 years, cutting the return by 1.69% 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 1.60%) | $168 | $521 | $898 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $26 | $92 |
| Total costs | $169 | $549 | $993 |
| Value after costs | $10,331 | $11,027 | $11,770 |
| Impact on return, per year | 1.69% | 1.69% | 1.69% |
BGRFX 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): 0.0070%
- Total broker commissions: $443K
- Bought from dealers (principal trades, not a cost): $219.0M
- Portfolio turnover (prospectus): 1%
- Securities lending: none during the year
BGRFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $73K | 20.83% |
| J.P. Morgan Securities LLC | $56K | 15.98% |
| State Street Global Markets, LLC | $48K | 13.68% |
| JonesTrading Institutional Services LLC | $44K | 12.50% |
| Jefferies LLC | $40K | 11.21% |
| BofA Securities, Inc. | $21K | 6.00% |
| Evercore Group L.L.C. | $20K | 5.56% |
| Morgan Stanley & Co. LLC | $19K | 5.42% |
| CJS Securities, Inc. | $18K | 5.09% |
| Goldman Sachs & Co. LLC | $13K | 3.73% |
BGRFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $219.0M | 100.00% |
Baron 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 |
|---|---|---|---|
| BGRIX | Institutional Shares | 1.34% | — |
| BGRUX | R6 Shares | 1.34% | — |
| BGRFX | Retail Shares | 1.60% | — |
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.