BRIUX Fees and Costs — Baron Real Estate Income Fund, R6 Shares
Data updated: 2026-08-28
The net expense ratio is 0.80%: a 0.75% management fee plus 0.13% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $350K in broker commissions, 0.1465% of average net assets, and portfolio turnover was 122%.
BRIUX Fees and Expenses
Annual operating expenses and sales charges of BRIUX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.13% |
| Gross expense ratio | 0.88% |
| Fee waiver | −0.08% |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
BRIUX Costs Over Time
On $10,000 invested in BRIUX, assuming 5% a year before costs, total costs come to $593 over 5 years, cutting the return by 0.99% 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 0.80%) | $84 | $262 | $455 |
| Trading costs (broker commissions) | $15 | $48 | $83 |
| Lost growth on money paid in costs | $0 | $15 | $54 |
| Total costs | $99 | $326 | $593 |
| Value after costs | $10,401 | $11,251 | $12,170 |
| Impact on return, per year | 0.99% | 0.99% | 0.99% |
BRIUX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1465%
- Total broker commissions: $350K
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 122%
- Securities lending: none during the year
BRIUX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $31K | 14.79% |
| J.P. Morgan Securities LLC | $26K | 12.74% |
| Evercore Group L.L.C. | $24K | 11.80% |
| Raymond James & Associates, Inc. | $20K | 9.67% |
| Citigroup Global Markets Inc. | $19K | 9.07% |
| BofA Securities, Inc. | $19K | 9.04% |
| Morgan Stanley & Co. LLC | $19K | 9.03% |
| Wells Fargo Securities, LLC | $17K | 8.23% |
| UBS Securities LLC | $17K | 8.14% |
| Jefferies LLC | $16K | 7.49% |
BRIUX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.1B | 99.60% |
| J.P. Morgan Securities LLC | $4.6M | 0.40% |
Baron Real Estate 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 |
|---|---|---|---|
| BRIIX | Institutional Shares | 0.80% | — |
| BRIUX | R6 Shares | 0.80% | — |
| BRIFX | Retail Shares | 1.05% | — |
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.