BVALX Fees and Costs — Brown Advisory - Beutel Goodman Large-Cap Value Fund, Institutional Shares
Data updated: 2026-09-11
The net expense ratio is 0.55%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $660K in broker commissions, 0.0516% of average net assets, and portfolio turnover was 27%.
BVALX Fees and Expenses
Annual operating expenses and sales charges of BVALX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| 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 |
BVALX Costs Over Time
On $10,000 invested in BVALX, assuming 5% a year before costs, total costs come to $379 over 5 years, cutting the return by 0.63% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $5 | $17 | $30 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $208 | $379 |
| Value after costs | $10,437 | $11,369 | $12,384 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
BVALX 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): 0.0516%
- Total broker commissions: $660K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 27%
- Securities lending: none during the year
BVALX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $165K | 26.86% |
| THE VERTICAL TRADING GROUP LLC | $81K | 13.14% |
| RBC CAPITAL MARKETS LLC | $76K | 12.31% |
| SANFORD C. BERNSTEIN & CO. LLC | $71K | 11.47% |
| PERSHING LLC | $68K | 11.08% |
| JEFFERIES LLC | $59K | 9.56% |
| CITIGROUP GLOBAL MARKETS INC. | $30K | 4.87% |
| MORGAN STANLEY & CO. LLC | $23K | 3.78% |
| MIZUHO SECURITIES USA LLC | $22K | 3.59% |
| UBS FINANCIAL SERVICES INC. | $21K | 3.34% |
Brown Advisory - Beutel Goodman Large-Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BVALX | Institutional Shares | 0.55% | none |
| BIAVX | Investor Shares | 0.70% | 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.