BMIDX Fees and Costs — Brown Advisory Mid-Cap Growth Fund, Investor Shares
Data updated: 2026-05-27
The net expense ratio is 0.98% (1.01% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $48K in broker commissions, 0.0581% of average net assets, and portfolio turnover was 73%.
BMIDX Fees and Expenses
Annual operating expenses and sales charges of BMIDX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 1.01% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.98% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
BMIDX Costs Over Time
On $10,000 invested in BMIDX, assuming 5% a year before costs, total costs come to $649 over 5 years, cutting the return by 1.09% 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 0.98%) | $103 | $321 | $556 |
| Trading costs (broker commissions) | $6 | $19 | $33 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $109 | $357 | $649 |
| Value after costs | $10,391 | $11,219 | $12,114 |
| Impact on return, per year | 1.09% | 1.09% | 1.09% |
BMIDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0581%
- Total broker commissions: $48K
- Bought from dealers (principal trades, not a cost): $4.4M
- Portfolio turnover (prospectus): 73%
- Securities lending: none during the year
BMIDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STIFEL NICOLAUS & COMPANY INCORPORATED | $7K | 19.45% |
| JEFFERIES LLC | $6K | 16.31% |
| MORGAN STANLEY & CO. LLC | $5K | 13.76% |
| PERSHING LLC | $5K | 12.51% |
| WELLS FARGO SECURITIES LLC | $3K | 8.83% |
| ROBERT W. BAIRD & CO. INCORPORATED | $3K | 6.80% |
| J.P. MORGAN SECURITIES LLC | $2K | 6.62% |
| INSTINET LLC | $2K | 5.38% |
| GOLDMAN SACHS & CO. LLC | $2K | 5.35% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $2K | 4.98% |
BMIDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $2.3M | 52.93% |
| J.P. MORGAN SECURITIES LLC | $1.8M | 41.07% |
| GOLDMAN SACHS & CO. LLC | $263K | 6.00% |
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.