Equities Fixed Income Hedge Funds 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.

We construct balanced portfolios for private clients, nonprofits and institutions depending on the needs of the client. We can be 100% open architecture, using third-party managers only, or we can put together a mix of internal and external strategies, whatever is in the client's best interest.

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.

We construct balanced portfolios for private clients, nonprofits and institutions depending on the needs of the client. We can be 100% open architecture, using third-party managers only, or we can put together a mix of internal and external strategies, whatever is in the client's best interest. Meet the Investment Solutions Group.

Hedge Funds

Hedge Funds

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.

Founded in June 2002, the Investment Solutions Group now manages in excess of $3.4 billion for clients (data as of January 31, 2017) in a combination of managed accounts, advisory relationships and fund-of-fund offerings.

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.

For more information on private equity please click here or contact Jacob Hodes at 410-537-5315 or jhodes@brownadvisory.com.

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.

WHAT NEXT? MAKING SENSE OF THE GLOBAL ECONOMY

Making sense of a changing political and economic landscape has been the prerogative of The Economist for nearly 200 years. The 12 months preceding NOW 2017 were undoubtedly as much in need of clarification and comment from The Economist’s editor-in-chief as any in recent memory. Zanny Minton Beddoes began her career with stints at the Ministry of Finance in Poland and the IMF, before starting her 23 years at the publication in 1994, holding senior roles in London, Washington, D.C., and the emerging markets, before becoming the first woman to serve as the publication’s editor-in-chief in 2015.

Brown Advisory | NOW London 2017 | Navigating Our World | What Next? Making Sense of the Global Economy
Fresh from a one-on-one conversation with Donald Trump and his senior economic advisors, and on the heels of the UK general election, Zanny Minton Beddoes, Editor-in-Chief of The Economist, will share her distinctive perspective on “Trumponomics,” the global economy and UK politics, and set the stage for our speakers throughout the afternoon.

Those looking for a security blanket may have been disappointed. Minton Beddoes delivered a thoughtful and perceptive critique of the global environment. The main body of her talk began with a thought experiment: If we had gained perfect political foresight 12 months ago—foreseeing the Brexit vote, a Trump presidency, a Macron victory out of nowhere in France, a coup in Turkey and a challenged UK election—would we have forecast record highs in global stock markets? The point of the question was to remind us of the perils of prediction, and of the huge disconnect between politics and markets—or, as she said, the “front and back pages of the newspaper.”

She noted that we live in enormously volatile times, and rather than expecting a reversion to the mean, we should instead be preparing for a continuation of dizzying change in the world, led by a broad rejection of the status quo.

Minton Beddoes offered the audience a whistle-stop tour of the globe. A synchronized global upturn has buoyed markets, aided by stability and improvement in the emerging world, and a return of “animal spirits” to U.S. markets. The Trump presidency has so far not delivered on extreme fears or hopes—in Minton Beddoes’ words, on the fears of “Dark Donald” or the hopes for a “latter-day Reagan.” Investors were not spooked by the former initially, looking more to the potential benefit of infrastructure stimulus, tax cuts and regulatory relief. She commented that so far, the new administration has not produced meaningful detriment or benefit to the global or U.S. economy, and businesses in the U.S. are largely undistracted by the theatre in Washington.

Zanny Minton Beddoes, Editor-in-Chief of The Economist, at Brown Advisory's NOW, Navigating Our World Conference​Minton Beddoes was far from sanguine regarding the U.K. and focused some discussion on the upcoming Brexit negotiations—we note here that The Economist has long been a standard-bearer for internationalism, especially in reference to the U.K. In her view, the country’s government is ill-prepared for the impending talks, with constructive conversations largely stalling in recent months as the countdown clock continues to tick. Signs of weakness in the U.K. economy and a general election that only emphasized the divided views of the public were adding to a “febrile” popular mood as the government attempts to carve a path forward. Minton Beddoes left the topic with the suggestion that the country may have been caught “on the crest of the populist wave”—just as it was potentially subsiding elsewhere.

Even so, she believes that the prospects for Europe overall have improved. A Macron victory has stemmed a broad nationalist surge for the moment, and a Franco-German alliance has the potential to bolster the Eurozone and solidify its strategic importance. Meanwhile, the economy has picked up some steam, and some genuine signs of reform momentum could mean progress in areas like labor legislation.

Zanny Minton Beddoes, Editor-in-Chief of The Economist, at Brown Advisory's NOW, Navigating Our World ConferenceIn her closing remarks, Minton Beddoes pushed our time horizons out to the long term. When historians look back at the first 20 years of the 21st century, they will note many things, such as a huge financial crisis, the emergence of China as a true global power, a demographic shift in developed markets and, possibly dwarfing all these factors, a period of enormous technological change. Drawing parallels with the industrial revolution in the late 1800s, Minton Beddoes noted that we may yet see wholesale shifts in society of a similar scale, with major disruptions to the industries and ways of life to which we are accustomed, and major changes in the role of the state.

 

The views expressed are those of the author and 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. 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 mentioned. It should not be assumed that investments in such securities 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.


NOW London 2017 Session Summaries and Videos

(Please click on any session title below to navigate to the recap and video page for that session.)

 

Introduction:
Thriving in Uncertain Times: Investment Takeaways

Session 1:
What Next? Making Sense of the Global Economy

Session 2:
Creating Value in an Age of Disruption

Session 3:
Innovation Beyond Silicon Valley

Session 4:
Shifting Alliances: America’s Changing Relationship with Asia and the Middle East

Session 5:
Cultivating the Seventh Sense: An Essential Instinct in the Age of Networks

 

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