BIJEX Fees and Costs — Brown Advisory - WMC Japan Equity Fund, Investor Shares
Data updated: 2026-09-11
The net expense ratio is 1.17%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $508K in broker commissions, 0.0990% of average net assets, and portfolio turnover was 73%.
BIJEX Fees and Expenses
Annual operating expenses and sales charges of BIJEX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 1.17% |
| Fee waiver | — |
| Net expense ratio | 1.17% |
| 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 |
BIJEX Costs Over Time
On $10,000 invested in BIJEX, assuming 5% a year before costs, total costs come to $790 over 5 years, cutting the return by 1.33% 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 1.17%) | $123 | $382 | $661 |
| Trading costs (broker commissions) | $10 | $32 | $56 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $133 | $435 | $790 |
| Value after costs | $10,367 | $11,141 | $11,973 |
| Impact on return, per year | 1.33% | 1.33% | 1.33% |
BIJEX 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): 0.0990%
- Total broker commissions: $508K
- Bought from dealers (principal trades, not a cost): $2.0M
- Portfolio turnover (prospectus): 73%
- Securities lending: none during the year
BIJEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET LLC | $76K | 17.30% |
| GOLDMAN SACHS & CO. LLC | $76K | 17.12% |
| UBS FINANCIAL SERVICES INC. | $52K | 11.77% |
| JEFFERIES LLC | $46K | 10.35% |
| J.P. MORGAN SECURITIES LLC | $43K | 9.67% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $39K | 8.79% |
| CITIGROUP GLOBAL MARKETS INC. | $36K | 8.09% |
| MORGAN STANLEY & CO. LLC | $36K | 8.09% |
| SMBC NIKKO SECURITIES AMERICA INC. | $20K | 4.57% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $19K | 4.26% |
BIJEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $2.0M | 100.00% |
Brown Advisory - WMC Japan 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 |
|---|---|---|---|
| BAFJX | Institutional Shares | 1.02% | none |
| BIJEX | Investor Shares | 1.17% | 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.