United States
Equities Fixed Income External Managers Private Equity and Real Estate Sustainable Investing

Equities

We follow a philosophy that low-turnover, concentrated portfolios derived from sound bottom-up fundamental research provide an opportunity for attractive performance results over time. We have a culture and firm equity ownership structure that help us attract and retain professionals who share those beliefs, and we follow a repeatable investment process that helps us stay true to our philosophy.

Brown Advisory Equity Strategies

Fixed Income

We follow a philosophy that fixed income strategies built from a foundation of stability coupled with fundamental credit research can seek to generate alpha and control risk. We have a culture and firm equity ownership structure that attract and retain professionals who share those beliefs, and we follow a repeatable investment process that helps us stay true to our philosophy.

Brown Advisory Fixed Income Strategies

External Managers

Investment Solutions Group

The Investment Solutions Group is an investment-management team within Brown Advisory that specializes in asset allocation, manager selection, hedge funds and other alternative investment strategies. Dedicated to open-architecture solutions, our team has established a strong track record of identifying high-quality, third-party investment managers across the hedge fund, long-only and private equity universes. We leverage this expertise to help clients assemble portfolios that we believe best fit their needs and goals, offering clients a range of solutions from complete portfolio management to fulfillment of specific hedge-fund and alternative-asset mandates.

Private Equity and Real Estate

Private Equity and Real Estate

Brown Advisory has incorporated private equity and real estate investments in client portfolios since our founding. Today, we can provide that exposure in three distinct ways.

Feeder Funds and Multimanager Funds
We introduce clients to investment opportunities in early- and late-stage venture capital and buyout funds, as well as select real estate funds. We also construct these feeder funds into multimanager funds through our Private Equity Partners (PEP) and Real Estate Partners (REP) vehicles to make private equity investing as easy as possible for our clients.

Customized Private Equity Portfolios
For most clients, private equity is one component of a balanced portfolio that we manage. Other clients, however, come to us specifically for custom-built private equity and real estate portfolios.

Sustainable Investing

Sustainable Investing Strategies

  • Multi-Manager Strategies
  • For clients seeking an open-architecture solution, we have access to several of the premier sustainable managers in the industry - all vetted by internal research.
  • Private Equity
  • Our private equity team is focused on evaluating the growing universe of private impact investments to identify standout opportunities that target various issues of particular concern to our clients. To date, we have placed assets in investments targeting a variety of impact themes such as community impact, microfinance, education technology, sustainable real estate, water initiatives and others.*
  • *Many alternative investments by regulation may only be sold to Accredited Investors (institutions with at least $5 million in assets) or Qualified Purchasers (institutions with at least $25 million in investments).

Customized Portfolios

This diverse assortment of solutions will meet many clients’ sustainability objectives; however, we understand the continued evolution of this space and seek to be able to react quickly to client needs.

For clients with unique missions, value-aligned investing programs, or who simply wish to ensure that they do not own certain controversial companies or have access to certain industries, we offer the following customized options:

Additional Screening: To the extent we have reliable data and can build rules into our compliance systems, we can add specific screens to a separate account to restrict companies (e.g. oil and gas providers) or industries (e.g. tobacco or weaponry).

Customized and Thematic Portfolios: Within a separate account, we can work together to solve for a sustainability need. From a universe of securities researched from both the bottom-up and for their ESG profile, we can assemble a custom portfolio of securities designed to meet many specific sustainable goals or outcomes.

Investment Insights and Thoughts from Brown Advisory
Navigating Our World

NOW 2018 | The Global Refugee Crisis

Stephan Capriles
May 30, 2018

SPEAKERS: Adina Appelbaum, Senior Attorney, Capital Area Immigrants’ Rights Coalition; Sasha Chanoff, Founder and Executive Director, RefugePoint; Caryl M. Stern, President and CEO, UNICEF USA

MODERATOR: Erika Pagel, Portfolio Manager

 

The world currently faces one of the most tragic humanitarian crises in modern history. According to the United Nations, more than 65 million people are currently forcibly displaced from their homes, a larger number than at any time since World War II. Today’s refugees are displaced on average for nearly 20 years, longer than at any other time in recorded history. Children born in conflict zones are particularly vulnerable; displaced children living in camps—described as the “lost generation”—have limited access to education and basic resources, and are essentially robbed of their childhoods.

A passionate and dedicated panel discussed a range of critical challenges facing refugee communities across the world. Adina Appelbaum spoke about the crisis in North and Central America, and the legal challenges for refugees seeking to represent themselves in the U.S. Sasha Chanoff focused on the issue from an international perspective, recounting his experience in a U.S. rescue operation into the Congo to evacuate massacre survivors. Caryl Stern shared stories from her work with children across the world with UNICEF.

Refugees face three options after being displaced. They can return home, they can integrate into the country to which they fled or they can relocate to a country with a program that allows them to resettle. In most cases, these are options in theory only, and refugees have no real choices available to them. Returning home is often unimaginable due to ongoing violence or threat of genocide. Integrating into a destination country has legal challenges with no defined pathway to citizenship. And resettlement programs have limited spots and long waiting periods. The crisis is exacerbated by the fact that refugees are often stripped of their options and prohibited from living outside of the temporary camps where they first settled. Many camps are “temporary” in name only—an estimated $25 billion a year is now needed for the food, water and other costs associated with refugee camps that were initially set up for emergency service but are becoming more and more permanent.

The rising tide of nationalism makes integration or resettlement more difficult. Refugees are wrongly stigmatized and painted as existential threats to national security and identity. Countries taking in most of the world’s refugees are often ill-equipped to address their needs, but wealthier countries have not stepped up to help. Many people view refugees through a zero-sum lens—what a refugee receives, a citizen must sacrifice—and on that basis fight vigorously to prevent refugees from resettling.

Refugees also struggle with legal representation. In the U.S., for example, refugees can legally seek asylum but are immediately detained by Immigration Customs Enforcement and have no legal avenue to seek release from custody. Migrants escaping violence in their home countries—including children separated from their families—are often detained in the U.S. for the entirety of their case. Refugees are not guaranteed the same legal rights in immigration courts as they would be in other U.S. courts, and refugees often represent themselves without understanding the law, their current status or even the language used in the court proceeding.

The panelists stressed that despite the problem seeming overwhelming at times, action on a local and personal scale can have monumental impacts in helping the plight of refugees. Donations help fund programs, organizations and humanitarian missions that save lives; making your voice heard with politicians reminds them that the issue is a top concern of constituents; volunteering in any professional capacity helps underfunded NGOs accomplish their mission. Finally, conversations with family, friends and colleagues about the dangers of xenophobia can help stop fear from descending into race-based hatred. When refugees integrate or resettle, they generally become positive, active citizens in their communities and contribute more to social welfare than what they extract. 

The views expressed are those of Brown Advisory as of the date referenced and are subject to change at any time based on market or other conditions. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. Past performance is not a guarantee of future performance and you may not get back the amount invested.

The information provided in this material is not intended to be and should not be considered to be a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities or asset classes mentioned. It should not be assumed that investments in such securities or asset classes have been or will be profitable. To the extent specific securities are mentioned, they have been selected by the author on an objective basis to illustrate views expressed in the commentary and do not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.

AUTHOR

Stephan Capriles

Messaging Specialist

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