Global Leaders Fund

Shining sun behind green mountains
Fact Sheet

Investment approach

The Fund will invest in equity securities of companies that the portfolio managers believe are leaders within their industry or country, as demonstrated by an ability to deliver high relative return on invested capital over time. The managers believe that high returns on capital can typically 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.

Fund 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 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.

Portfolio Sector

(As of Sep 30, 2024)

Sector Fund Benchmark
Communication Services 6.4 7.8
Consumer Discretionary 6.9 10.7
Consumer Staples 4.5 6.4
Energy — 4.0
Financials 30.3 16.2
Health Care 9.9 10.9
Industrials 17.4 10.6
Information Technology 22.4 24.5
Materials 2.2 4.1
Real Estate — 2.2
Utilities — 2.7
Source: FactSet®. Sector breakdown (excluding cash and equivalents) is subject to change at any time. 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. Sectors are based on the Global Industry Classification Standard (GICS®) classification system. Numbers may not total due to rounding

Characteristics

(As of Sep 30, 2024)

Portfolio Attribute Fund Benchmark
Number of Holdings 35 2687
Wtd. Avg. Market Capitalization ($B) 483.4 648.7
Wtd. Median Market Capitalization ($B) 99.6 122.2
Earnings Growth Rate, (3-5 Yr. estimate(%)) 13.6 14.2
Sales Growth Rate, (3-Yr. Hist. average (%)) 17.3 15.8
Return on Invested Capital (%) 21.4 8.7
Price-to-Earnings Ratio (P/E, FY1) 25.0 19.4
Source: Fund net assets provided by U.S. Bank and are as of the last day of the quarter and include all share classes. Characteristics exclude cash and equivalents and are derived from FactSet and are applicable to investor share class only. Performance figures and charts include the reinvestment of dividend and capital gain distributions. Returns would have been lower during the specified periods if the payment of certain fees by the Fund had not been waived or expenses reimbursed. Earnings growth 3-5 year estimate is not a measure of the Fund’s future performance. Mutual Fund investing involves risk. Principal loss is possible. Investments in foreign securities and ADRs entail certain risks not associated with investments in domestic securities, such as volatility of currency exchange rates, and in some cases, political and economic instability and relatively illiquid markets.  The Brown Advisory Funds are distributed by ALPS Distributors, Inc. 1290 Broadway, Suite 1000, Denver, CO 80203. Brown Advisory Funds and ALPS are not affiliated.

Sustainable investment considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. Sustainable investment analysis may not be performed for every holding in the strategy. Sustainable investment considerations that are material will vary by investment style, sector/industry, market trends and client objectives. The Fund seeks to identify companies that it believes may be desirable based on our analysis of sustainable investment related risks and opportunities, but investors may differ in their views. As a result, the Fund may invest in companies that do not reflect the beliefs and values of any particular investor. The Fund may also invest in companies that would otherwise be excluded from other Funds that focus on sustainable investment risks. Security selection will be impacted by the combined focus on sustainable investment research assessments and fundamental research assessments including the return forecasts. The Fund incorporates data from third parties in its research process but does not make investment decisions based on third-party data alone. 

Sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.
Click here for a current prospectus. Please read and consider it carefully before investing. You may obtain a hardcopy of the prospectus by calling 1-800-540-6807.
Click here for index and financial term definitions.  

Average Annual Total Returns % (As of Sep 30, 2024)

Share Class Three Months One Year Three Year Five Year Ten Year Since Inception
Investor (BIALX), Inception: 07/01/2015 5.70 32.63 7.86 12.29 — 11.80
MSCI ACWI Index 6.61 31.76 8.09 12.19 — 9.75
Gross Expense Ratio: 0.77% (Institutional), 0.92% (Investor).
Net Expense Ratio: 0.77% (Institutional), 0.92% (Investor).Returns greater than one year are annualized.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. For monthly and quarterly performance information, please call 1-800-540-6807.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.Sustainable investment considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. Sustainable investment analysis may not be performed for every holding in the strategy. Sustainable investment considerations that are material will vary by investment style, sector/industry, market trends and client objectives. The Fund seeks to identify companies that it believes may be desirable based on our analysis of sustainable investment related risks and opportunities, but investors may differ in their views. As a result, the Fund may invest in companies that do not reflect the beliefs and values of any particular investor. The Fund may also invest in companies that would otherwise be excluded from other Funds that focus on sustainable investment risks. Security selection will be impacted by the combined focus on sustainable investment research assessments and fundamental research assessments including the return forecasts. The Fund incorporates data from third parties in its research process but does not make investment decisions based on third-party data alone. Mutual Fund investing involves risk. Principal loss is possible. Investments in foreign securities and ADRs entail certain risks not associated with investments in domestic securities, such as volatility of currency exchange rates, and in some cases, political and economic instability and relatively illiquid markets. The Brown Advisory Funds are distributed by ALPS Distributors, Inc. 1290 Broadway, Suite 1000, Denver, CO 80203. Brown Advisory Funds and ALPS are not affiliated.
Total assets under management value as of 09/30/2024. 
Click here for a current prospectus. Please read and consider it carefully before investing. You may obtain a hardcopy of the prospectus by calling 1-800-540-6807.
Click here for index and financial term definitions.

Top Holdings

(As of Sep 30, 2024)

Name Percentage
Microsoft Corp 7.9
Deutsche Boerse AG 4.5
London Stock Exchange Group PLC 4.5
Unilever PLC 4.4
Mastercard Inc 4.2
Alphabet Inc 4.1
General Electric Co 3.8
Safran SA 3.4
Taiwan Semiconductor Manufacturing Co Ltd 3.2
Zoetis Inc 3.1
Brown Advisory Global Leaders Fund Top 10% 43.0%
Mutual Fund investing involves risk. Principal loss is possible. Securities of medium-sized companies may be more volatile and more difficult to liquidate during market down turns than securities of larger companies. Investments in foreign securities and ADRs entail certain risks not associated with investments in domestic securities, such as volatility of currency exchange rates, and in some cases, political and economic instability and relatively illiquid markets. These risks are greater in emerging markets. In addition, the Fund is susceptible to risks from investments in ETFs, REITs, derivatives, private placements and its investments in other investment companies.
The Brown Advisory Funds are distributed by ALPS Distributors, Inc. 1290 Broadway, Suite 1000, Denver, CO 80203. Brown Advisory Funds and ALPS are not affiliated.
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 31, 2019. The Fund's Net Expense Ratio applies to investors.
Total assets under management value as of 09/30/2024. Fund holdings includes Cash and Equivalents which was 0.3% as of 09/30/2024 and is provided as supplemental information. 
Fund holdings are subject to change and should not be considered a recommendation to buy or sell any security.
 
Sustainable investment considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. Sustainable investment analysis may not be performed for every holding in the strategy. Sustainable investment considerations that are material will vary by investment style, sector/industry, market trends and client objectives. The Fund seeks to identify companies that it believes may be desirable based on our analysis of sustainable investment related risks and opportunities, but investors may differ in their views. As a result, the Fund may invest in companies that do not reflect the beliefs and values of any particular investor. The Fund may also invest in companies that would otherwise be excluded from other Funds that focus on sustainable investment risks. Security selection will be impacted by the combined focus on sustainable investment research assessments and fundamental research assessments including the return forecasts. The Fund incorporates data from third parties in its research process but does not make investment decisions based on third-party data alone.
Brown Advisory LLC (the “Adviser”) has contractually agreed to waive its fees and/or reimburse certain expenses (exclusive of any front-end or contingent deferred sales loads, taxes, interest, brokerage commissions, acquired Fund fees and expenses, expenses incurred in connection with any merger or reorganization and extraordinary expenses) in order to limit the Total Annual Fund Operating Expenses after Fee Waiver and/or Expense Reimbursement for Institutional Shares and Investor Shares to 0.75% and 0.90%, respectively, of the Fund’s average daily net assets through October 31, 2020. The Fund may have Total Annual Fund Operating Expenses after Fee Waiver and/or Expense Reimbursement higher than these expense caps as a result of any acquired fund fees and expenses or other expenses that are excluded from the calculation. The contractual waivers and expense reimbursements may be changed or eliminated at any time by the Board of Trustees, on behalf of the 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 Adviser may recoup any waived amount from the Fund pursuant to this agreement if such reimbursement does not cause the Fund to exceed existing expense limitations or the limitations in place at the time the reduction was originally made and the reimbursement is made within three years after the date on which the Adviser incurred the expense.
Brown Advisory LLC (the “Adviser”) has contractually agreed to waive its fees and/or reimburse certain expenses (exclusive of any front-end or contingent deferred sales loads, taxes, interest, brokerage commissions, acquired Fund fees and expenses, expenses incurred in connection with any merger or reorganization and extraordinary expenses) in order to limit the Total Annual Fund Operating Expenses after Fee Waiver and/or Expense Reimbursement for Institutional Shares and Investor Shares to 0.75% and 0.90%, respectively, of the Fund’s average daily net assets through October 31, 2020. The Fund may have Total Annual Fund Operating Expenses after Fee Waiver and/or Expense Reimbursement higher than these expense caps as a result of any acquired Fund fees and expenses or other expenses that are excluded from the calculation. The contractual waivers and expense reimbursements may be changed or eliminated at any time by the Board of Trustees, on behalf of the 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 Adviser may recoup any waived amount from the Fund pursuant to this agreement if such reimbursement does not cause the Fund to exceed existing expense limitations or the limitations in place at the time the reduction was originally made and the reimbursement is made within three years after the date on which the Adviser incurred the expense.
Click here for index and financial term definitions.
Click here for a current prospectus. Please read and consider it carefully before investing. You may obtain a hardcopy of the prospectus by calling 1-800-540-6807.