BIIEX Fees and Costs — Brandes International Equity Fund, Class I
Data updated: 2026-08-26
The net expense ratio is 0.86%: a 0.75% management fee plus 0.12% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.9M in broker commissions, 0.1004% of average net assets, and portfolio turnover was 30%.
BIIEX Fees and Expenses
Annual operating expenses and sales charges of BIIEX. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.87% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.86% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
BIIEX Costs Over Time
On $10,000 invested in BIIEX, assuming 5% a year before costs, total costs come to $601 over 5 years, cutting the return by 1.01% 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 0.86%) | $90 | $282 | $489 |
| Trading costs (broker commissions) | $11 | $33 | $57 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $330 | $601 |
| Value after costs | $10,399 | $11,246 | $12,162 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
BIIEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1004%
- Total broker commissions: $1.9M
- Bought from dealers (principal trades, not a cost): $1.7B
- Portfolio turnover (prospectus): 30%
- Securities on loan, average value: $16.8M
- Net income from securities lending: $83K (0.004% of average net assets)
BIIEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC. | $258K | 18.76% |
| CITIGROUP GLOBAL MARKETS INC. | $206K | 14.95% |
| UBS SECURITIES LLC | $182K | 13.23% |
| MORGAN STANLEY & CO. LLC | $143K | 10.42% |
| BOFA SECURITIES, INC. | $135K | 9.80% |
| SANFORD C. BERNSTEIN & CO., LLC | $123K | 8.92% |
| HSBC SECURITIES (USA) INC. | $95K | 6.94% |
| GOLDMAN SACHS & CO. LLC | $82K | 6.00% |
| J.P. MORGAN SECURITIES LLC | $82K | 5.96% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $69K | 5.02% |
BIIEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $1.7B | 98.62% |
| MORGAN STANLEY & CO. LLC | $12.6M | 0.74% |
| CITIGROUP GLOBAL MARKETS INC. | $5.0M | 0.30% |
| J.P. MORGAN SECURITIES LLC | $3.7M | 0.21% |
| HSBC SECURITIES (USA) INC. | $1.1M | 0.06% |
| BOFA SECURITIES, INC. | $955K | 0.06% |
| MACQUARIE CAPITAL (USA) INC. | $252K | 0.01% |
Brandes International Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BIERX | Class R6 | 0.76% | none |
| BIIEX | Class I | 0.86% | none |
| BIEAX | Class A | 1.08% | 5.75% |
| BIECX | Class C | 1.72% | 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.