BTEEX Fees and Costs — Baron Technology Fund, Retail Shares
Data updated: 2025-11-26
The net expense ratio is 1.20%: a 0.80% management fee, a 0.25% 12b-1 fee plus 0.70% other expenses, less a 0.55% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $12K in broker commissions, 0.0363% of average net assets, and portfolio turnover was 36%.
BTEEX Fees and Expenses
Annual operating expenses and sales charges of BTEEX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.70% |
| Gross expense ratio | 1.75% |
| Fee waiver | −0.55% |
| Net expense ratio | 1.20% |
| 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 |
BTEEX Costs Over Time
On $10,000 invested in BTEEX, assuming 5% a year before costs, total costs come to $770 over 5 years, cutting the return by 1.30% 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 1.20%) | $126 | $392 | $678 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $20 | $71 |
| Total costs | $130 | $424 | $770 |
| Value after costs | $10,370 | $11,152 | $11,993 |
| Impact on return, per year | 1.30% | 1.30% | 1.30% |
BTEEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0363%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $191.7M
- Portfolio turnover (prospectus): 36%
- Securities lending: none during the year
BTEEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $3K | 30.90% |
| Jefferies LLC | $2K | 20.55% |
| UBS Securities LLC | $913 | 8.90% |
| BofA Securities, Inc. | $701 | 6.84% |
| Morgan Stanley & Co. LLC | $657 | 6.41% |
| State Street Global Markets, LLC | $616 | 6.00% |
| Daiwa Capital Markets America Inc. | $604 | 5.89% |
| Stifel, Nicolaus & Company, Incorporated | $544 | 5.31% |
| J.P. Morgan Securities LLC | $534 | 5.20% |
| Craig-Hallum Capital Group LLC | $411 | 4.00% |
BTEEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $190.9M | 99.59% |
| Goldman Sachs & Co. LLC | $318K | 0.17% |
| Virtu Americas LLC | $296K | 0.15% |
| Morgan Stanley & Co. LLC | $178K | 0.09% |
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.