Brown Advisory Global Leaders (BIALX) Fund Profile

Global Leaders Fund Fact Sheet

The Brown Advisory Opportunity Fund was merged into the Brown Advisory Global Leaders Fund effective October 23, 2015.

Objective
The Brown Advisory Global Leaders Fund seeks to achieve capital appreciation by investing primarily in global equities.

Strategy
The Fund will invest in equity securities of companies that the portfolio manager believes are leaders within their industry or country, as demonstrated by an ability to deliver high relative return on invested capital over time. The manager believes that high returns on capital typically can be attributable to, among other things, a strong competitive position and defensible barriers to entry.

The Fund may invest in common stock, preferred stock, equity-equivalent securities such as stock futures contracts and equity options, other investment companies, American Depositary Receipts ("ADRs"), Global Depositary Receipts ("GDRs"), and exchange traded funds ("ETFs"). The equity securities in which the Fund may invest will generally be issued by mid- and large-capitalization companies. In addition to those securities, the Fund may also invest in convertible bonds, Rule 144A securities, U.S. Treasury bills, fixed and/or floating rate U.S. government securities, real estate investment trusts and unlisted securities.

To learn more, read about the Global Leaders Strategy by clicking here.



Profile
The manager seeks to build a concentrated portfolio of fundamentally sound companies that is characterized by low turnover, high active share and the potential to deliver attractive outperformance over time. Under normal circumstances, the Fund aims to achieve its investment objective by investing at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. The Fund also will, under normal market conditions: (1) invest at least 40% of its assets outside the United States, or if market conditions are not favorable, at least 30% of its assets outside the United States, and (2) hold securities of issuers located in at least three countries.

 

Performance

  Annualized
(As of June 30, 2017) 3-month 1-year 3-year Since Inception
Global Leaders Fund (Inv.) 8.29% 19.39% N/A 7.34%
Russell Global Large-Cap Net Index 4.25% 18.85% N/A 6.71%

 

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Click here for the monthly and quarterly performance information.

Performance data does not reflect the 1.00% fee on shares redeemed or exchanged within 14 days of purchase, and if it had, returns would be lower.

Top 10 Holdings

(As of June 30, 2017)
1. Alphabet Inc  4.71%
2. Microsoft Corp 4.51%
3. JPMorgan Chase & Co 4.09%
4. Unilever PLC 4.05%
5. Estee Lauder Cos Inc/The 4.00%
6. Visa Inc 3.86%
7. Safran SA 3.43%
8. Schindler Holding AG

3.39%

9. Taiwan Semiconductor Manufacturing Co Ltd 3.39%
10. Henkel AG & Co KGaA 3.38%

 

Characteristics

(As of June 30, 2017)
Return on Invested Capital    17.2%
Est. 3-5 Year EPS Growth Rate   12.5%
Forward P/E Ratio   25.2x
P/E Using FY 2 Est.   19.4x
Weighted Average Market Capitalization ($B)   $141.3 B

 

*The minimum investment requirements are waived for qualified retirement plans under Section 401(a) of the Internal Revenue Code ("IRC"), and plans operating consistent with 403(a), 403(b), 408, 408(A), 457, 501(c) and 223(d) of the IRC.

*Expense Waivers are 0.59% in each share class. The contractual waivers and expense reimbursements may be changed or eliminated at any time by the Board of Trustees, on behalf of a Fund, upon 60 days written notice to the Adviser. The contractual waivers and expense reimbursements may not be terminated by the Adviser without the consent of the Board of Trustees. The contractual waivers will remain in effect until October 30, 2017.

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.

Click here for index and financial term definitions.

Mick Dillon, CFA, is a partner at Brown Advisory and portfolio manager of the Global Leaders Fund. Before joining Brown Advisory, Mick worked at HSBC Global Asset Management in Hong Kong where he was the Co-Head of Asian Equities. He is originally from Australia and graduated from the University of Melbourne where he was awarded three Bachelor degrees in six years.

Education: University of Melbourne, B.A. (1991-1996)

 

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