BHCFX Fees and Costs — Baron Health Care Fund, Retail Shares
Data updated: 2026-08-28
The net expense ratio is 1.10%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.27% other expenses, less a 0.17% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $61K in broker commissions, 0.0388% of average net assets, and portfolio turnover was 74%.
BHCFX Fees and Expenses
Annual operating expenses and sales charges of BHCFX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.27% |
| Fee waiver | −0.17% |
| Net expense ratio | 1.10% |
| 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 |
BHCFX Costs Over Time
On $10,000 invested in BHCFX, assuming 5% a year before costs, total costs come to $710 over 5 years, cutting the return by 1.20% 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 1.10%) | $116 | $360 | $623 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $18 | $65 |
| Total costs | $120 | $391 | $710 |
| Value after costs | $10,380 | $11,185 | $12,052 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
BHCFX 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): 0.0388%
- Total broker commissions: $61K
- Bought from dealers (principal trades, not a cost): $1.8B
- Portfolio turnover (prospectus): 74%
- Securities lending: none during the year
BHCFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Leerink Partners LLC | $17K | 38.41% |
| Jefferies LLC | $5K | 10.35% |
| Piper Sandler & Co. | $4K | 8.91% |
| UBS Securities LLC | $3K | 7.83% |
| Cantor Fitzgerald & Co. | $3K | 7.44% |
| Goldman Sachs & Co. LLC | $3K | 7.12% |
| Morgan Stanley & Co. LLC | $3K | 5.98% |
| Stifel, Nicolaus & Company, Incorporated | $2K | 5.10% |
| State Street Global Markets, LLC | $2K | 4.74% |
| BofA Securities, Inc. | $2K | 4.11% |
BHCFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.8B | 99.95% |
| J.P. Morgan Securities LLC | $937K | 0.05% |
Baron Health Care Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BHCHX | Institutional Shares | 0.85% | — |
| BHCUX | R6 Shares | 0.85% | — |
| BHCFX | Retail Shares | 1.10% | — |
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.