An aqueous ophthalmic composition comprising a branched, glycerol monoalkyl compound and a fatty acid monoester. The fatty acid monoester comprises an aliphatic fatty acid portion having six to fourteen carbon atoms and an aliphatic hydroxyl portion. The composition will also have an osmolality in a range from 200 mOsmol/kg to 400 mOsmol/kg. The invention is also directed to a method of inhibiting the formation of foam in an aqueous ophthalmic composition that includes a surfactant as well as to a method of enhancing the biocidal efficacy of an aqueous ophthalmic composition containing a fatty acid monoester.