BNIVX Fees and Costs — Barrow Hanley International Value Fund, Institutional Shares
Data updated: 2026-08-27
The net expense ratio is 0.92%: a 0.66% management fee plus 0.60% other expenses, less a 0.34% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $35K in broker commissions, 0.1358% of average net assets, and portfolio turnover was 41%.
BNIVX Fees and Expenses
Annual operating expenses and sales charges of BNIVX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.66% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.60% |
| Gross expense ratio | 1.26% |
| Fee waiver | −0.34% |
| Net expense ratio | 0.92% |
| 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 |
BNIVX Costs Over Time
On $10,000 invested in BNIVX, assuming 5% a year before costs, total costs come to $660 over 5 years, cutting the return by 1.11% 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 0.92%) | $97 | $301 | $522 |
| Trading costs (broker commissions) | $14 | $44 | $77 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $111 | $363 | $660 |
| Value after costs | $10,389 | $11,213 | $12,103 |
| Impact on return, per year | 1.11% | 1.11% | 1.11% |
BNIVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1358%
- Total broker commissions: $35K
- Bought from dealers (principal trades, not a cost): $19.0M
- Portfolio turnover (prospectus): 41%
- Securities lending: none during the year
BNIVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $18K | 59.23% |
| MORGAN STANLEY | $4K | 13.16% |
| JEFFERIES LLC | $3K | 9.33% |
| LIQUIDNET, INC. | $2K | 7.25% |
| UBS Warburg Finance Asia Limited | $2K | 6.32% |
| GOLDMAN SACHS & CO. LLC | $1K | 4.71% |
BNIVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $19.0M | 100.00% |
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.