BIAIX Fees and Costs — Brown Advisory Intermediate Income Fund, Investor Shares
Data updated: 2026-09-11
The net expense ratio is 0.54%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $4K in broker commissions, 0.0028% of average net assets, and portfolio turnover was 50%.
BIAIX Fees and Expenses
Annual operating expenses and sales charges of BIAIX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.54% |
| Fee waiver | — |
| Net expense ratio | 0.54% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
BIAIX Costs Over Time
On $10,000 invested in BIAIX, assuming 5% a year before costs, total costs come to $343 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 0.54%) | $57 | $178 | $310 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $57 | $187 | $343 |
| Value after costs | $10,443 | $11,389 | $12,420 |
| Impact on return, per year | 0.57% | 0.57% | 0.57% |
BIAIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0028%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $212.6M
- Portfolio turnover (prospectus): 50%
- Securities lending: none during the year
BIAIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS LLC | $4K | 100.00% |
BIAIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $66.2M | 34.88% |
| WELLS FARGO SECURITIES LLC | $24.5M | 12.92% |
| U.S. BANCORP INVESTMENTS INC. | $18.6M | 9.79% |
| MORGAN STANLEY & CO. LLC | $18.5M | 9.73% |
| BNY MELLON CAPITAL MARKETS LLC | $12.0M | 6.32% |
| CITIGROUP GLOBAL MARKETS INC. | $11.8M | 6.21% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $11.5M | 6.07% |
| J.P. MORGAN SECURITIES LLC | $10.0M | 5.29% |
| PERSHING LLC | $10.0M | 5.24% |
| BOFA SECURITIES INC. | $6.7M | 3.54% |
Brown Advisory Intermediate Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BIAIX | Investor Shares | 0.54% | none |
| BAIAX | Advisor Shares | 0.79% | none |
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.