BIABX Fees and Costs — Brown Advisory Strategic Bond Fund, Institutional Shares
Data updated: 2020-11-30
The net expense ratio is 0.61%: a 0.40% management fee plus 0.20% other expenses. This share class carries a redemption fee of 1.00%. In fiscal 2020 the fund paid $2K in broker commissions, 0.0011% of average net assets, and portfolio turnover was 115%.
BIABX Fees and Expenses
Annual operating expenses and sales charges of BIABX. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 0.61% |
| Fee waiver | — |
| Net expense ratio | 0.61% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
BIABX Costs Over Time
On $10,000 invested in BIABX, assuming 5% a year before costs, total costs come to $385 over 5 years, cutting the return by 0.64% 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 0.61%) | $64 | $201 | $349 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $211 | $385 |
| Value after costs | $10,436 | $11,365 | $12,378 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
BIABX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0011%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $601.1M
- Portfolio turnover (prospectus): 115%
- Securities lending: none during the year
BIABX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE SECURITIES (USA) LLC | $2K | 100.00% |
BIABX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES INC. | $56.5M | 14.06% |
| J.P. MORGAN SECURITIES LLC | $46.0M | 11.45% |
| INTL FCSTONE FINANCIAL INC. | $45.3M | 11.27% |
| GOLDMAN SACHS & CO. LLC | $42.3M | 10.52% |
| WELLS FARGO SECURITIES LLC | $40.8M | 10.15% |
| MORGAN STANLEY & CO. LLC | $38.6M | 9.60% |
| PERSHING LLC | $37.8M | 9.39% |
| U.S. BANCORP INVESTMENTS INC. | $35.7M | 8.88% |
| BARCLAYS CAPITAL INC. | $33.6M | 8.36% |
| ROBERT W. BAIRD & CO. INCORPORATED | $25.4M | 6.31% |
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.