We believe outperformance is driven from superior stock selection, not selecting which way the world may or may not influence stocks.

 

The firm takes a "private company approach" to public company investing—seeking to own businesses that are industry leaders or hold a proprietary advantage over their competition.

 

Our independence allows us to challenge conventional wisdom. Our commitment to in-house research is significant. Our analysts emphasize disciplined, bottom-up research as the foundation to our approach. Our conviction in strict investment criteria and rigorous due diligence ensures we concentrate each portfolio in our best ideas, creating the potential for above average returns.
  • Large-Cap Growth

  • Large-Cap Value

  • Flexible Value

  • Small-Cap Growth

  • Small-Cap Fundamental Value

  • Brown Advisory Opportunity Fund

  • Fixed Income

  • Private Equity

  • Open Architecture

  • Balanced Capabilities

  • Market Neutral Strategies (through our partner NSB Advisors LLC)
    •
    Brown Advisory’s Large-Cap Growth strategy focuses on business models that seek to generate high, sustainable earnings growth rates. We are not benchmark driven. We believe that a diversified but relatively concentrated portfolio of companies with sound business models and competitive positioning, purchased at attractive valuations, should produce above-average returns over time.

    Inside The Strategy:

    • A diversified portfolio of large-cap companies
       
    • Approximately 30 holdings
       
    • Market Cap > $2 billion
    Mutual Fund Information

    Brown Advisory’s Large-Cap Value strategy seeks to achieve above-average long-term returns and attempts to achieve a "margin of safety" when determining a company's valuation. Our value team pays particular attention to companies with quality balance sheets, financial flexibility and proven earnings. We use a bottom-up, research-intensive process with a rigorous valuation discipline to build a portfolio with attractive valuations and strong underlying fundamentals.

     

    Inside The Strategy:

    • A diversified portfolio of mid/large-cap companies
       
    • 35-45 holdings
       
    • Market Cap > $2 billion
    Separate Accounts
     
    Mutual Fund Information
    About the Manager: Bernstein
    Brown Advisory’s “Flexible Value” strategy expands the bargain hunting concept of traditional value investing to embrace a broader range of investment opportunities.  With value defined as the present value of estimated future cash flows, the strategy seeks bargains in "value" as well as "growth" stocks.  Thus, value is its philosophy but not its style. 

    Inside The Strategy:

    • A moderately concentrated portfolio of mid/large-cap companies
    • Market Cap typically greater than $2 billion
    • We seek to buy businesses with good long-term economics and capable management on a bargain basis by: 
      • Taking advantage of temporary adversity or market disfavor
      • Identifying a significant change that may improve business prospects
      • Identifying an up-and-coming business early in its life and before it becomes widely recognized.
    Mutual Fund Information
    About the Managers: Foss | Vernon | Yudell
    Portfolio Holdings
     
    Brown Advisory’s Small-Cap Growth strategy seeks to produce above average risk-adjusted returns through a portfolio of companies displaying above average growth, sound management, and favorable competitive positioning. The portfolio team identifies new investment opportunities by leveraging the firm’s extensive network of venture capital and private equity relationships, clients, directors and outside shareholders.  Although the resulting portfolio is relatively concentrated, it is diversified by sector and business model.

    Inside The Strategy:

    • A diversified portfolio of small-cap companies
       
    • 40-60 holdings
       
    • Market Cap < $5 billion
    Mutual Fund Information
    About the Managers:     Berrier | Hathaway
     
    Brown Advisory’s Small-Cap “Fundamental Value” strategy seeks to produce above average returns by investing in securities that are mis-priced relative to our fundamental assessment of their underlying value.  The team uses several valuation methodologies and a disciplined research process to assess a company’s economic worth, as measured by its asset value, earnings power and expected cash flows.  The strategy seeks to capitalize on market inefficiencies that arise in the small-cap universe.  We believe price does not equate to value, and companies with lower valuations are more likely to provide opportunities for capital appreciation while mitigating risk.

    Inside The Strategy:

    • A diversified portfolio of small-cap companies
    • 40- 60 holdings
    • Market Cap < $4 billion
    		 Separate Accounts
    Please contact us for more information.

    Mutual Fund Information
    About the Manager: Schuster 

    For more information about Brown Advisory Funds, click here.
    The Brown Advisory Opportunity Fund seeks to produce above-average risk-adjusted returns through a highly concentrated portfolio of stocks representing our very best investment ideas. The strategy incorporates a long-only portfolio that is agnostic to market caps and investment styles. We utilize what we believe are significant competitive advantages to exploit inefficiencies created by the market’s tendency to focus on short-term results. Stock selection is driven by our bottom-up, fundamental research process in the context of long-term secular investment themes.

    Inside The Strategy:
    • Highly concentrated portfolio not constrained by "style boxes" with respect to market capitalization and investment style approximately
    • 20-30 holdings
    • Prior to December 30, 2005, the Fund was operated by Nevis Capital Management. As a result of substantial losses over the years, the Fund has a capital loss carry-forward totaling well in excess of $100 million.
    		 Separate Accounts
    Please contact us for more information.

    Mutual Fund Information 
    About the Manager: Powell
    Opportunity Fund (BIAOX) Fact Sheet
    Portfolio Holdings
    Prospectus
    Annual Report
    Semi-Annual Report
    Statement of Additional Information

    For more information about Brown Advisory Funds, click here.
    Brown Advisory’s Fixed Income strategy strives to keep portfolio durations relatively short and quality very high. The strategy seeks to outperform the relevant benchmarks utilizing active sector rotation and security selection while maintaining disciplined risk guidelines. We believe that active management of fixed income portfolios can generate solid returns and add stability to balanced portfolios. Our size allows us access to certain individual issues that are too small for many bond managers.

    Inside The Strategy:

    • "Defense is the best offense." We do not believe in speculating for yield 
    • We believe fixed income investments should be matched with client objectives, including the need for income, diversification, liquidity, or total return
    • Our research seeks to exploit changes in sector spreads, security valuations, interest rate trends, and yield curve dynamics
    Separate Accounts
     
    Mutual Fund Information
    Brown Advisory’s private equity effort introduces clients to investment opportunities in early- and late-stage venture capital and buyout funds. We form feeder partnerships with our clients in order to overcome the minimum investment levels required by various funds, and perform in-depth due diligence on each fund we consider for investment. In every case, we invest our own capital alongside our clients' funds to ensure that our interests are aligned.
    Inside The Strategy:
    • Our clients benefit from the firm’s extensive network in the private equity world. 
    • Brown Advisory partners and directors have wide-ranging experience in technology and health care venture investing
    • We leverage our proprietary research expertise in leading-edge industry sectors
    • Our participation in over 40 venture, buyout, and real estate funds provides a strong base of experience
    Brown Advisory developed its own brand of “selective” open architecture from its inception. We designed our service to bring clients additional asset classes and investment styles that complement the firm's proprietary capabilities. We have built relationships with a number of other “outside” investment managers. Our strategy challenges the conventional “Best in Breed” approach. We view these managers as partners. Their expertise in various styles and asset classes serve to complement our “core” skills to develop a portfolio capable of mitigating risk while enhancing returns. 

     

    Inside The Strategy:

    • Open Architecture capabilities
      • U.S. small-cap value equity
      • Non-U.S. large-cap equity
      • Emerging markets
      • Non-U.S. bonds
      • High yield bonds
      • Real estate securities
      • Real estate partnerships
      • Hedge funds and funds-of-funds
      • Private equity
    		Mutual Fund Information
    Cardinal Small Companies Fund Fact Sheet (BIACX)
     

    Whether you are a private client or an institution, our team of investment professionals can manage to sit down with each client and develop an investment plan suited just for you.

    Inside The Strategy:

    • Each relationship begins with development of a strategic asset allocation plan
    • We can work within an existing policy, revise an old one or develop a new one using a combination of asset classes and styles that reflect each client's criteria for return, income, and risk
    • Strategic asset allocation is not meant to be a static recommendation, but instead, a long-term target subject to adjustment as the attributes and correlations of each asset class shift over time
    NSB Advisors
    Through our partner NSB Advisors we offer clients a small-cap focused market-neutral strategy that seeks to provide stable positive returns irrespective of market direction. This strategy has been widely deployed since mid-2005.

    Inside the Strategy:
    • Concentrated long portfolio consisting of approximately 20 core positions of micro-cap companies.
    •  The long portfolio is constructed based on top-down thematic research in conjunction with bottom’s up stock selection.
    • Long-term investment horizon with optimal holding period of approximately 8 years.
    • Counterbalance hedging strategy based on writing in-the-money index call options to create a coarse hedge to protect the long portfolio as well as provide time value premium.

  • Green Investment Capabilities (through our partner Winslow Management Co.)
    •

     News and Updates
     
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    New Account Information

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    What this means for you: When you open an account, we will ask for certain information that will assist us in verifying your identity, such as your name, address, date of birth and taxpayer identification number. In some cases, we may ask for additional documentation, such as a driver's license, passport or other form of governmental identification.

    Terms of Use

    By using this site, you signify your assent to, and agree to be bound by, the following terms and conditions. You should read these conditions carefully before using this site, and if you do not agree to these terms, you should exit this site. These terms may be amended at any time. Brown Advisory provides this site for informational purposes. Nothing on this site should be construed as an offer or solicitation to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.

    Disclaimer of Warranty and Limitation of Liability

    The information on this site is provided "as is". Brown Advisory does not warrant the accuracy of the materials provided herein, either expressly or by implication, for any particular purpose and expressly disclaims any warranties of merchantability or fitness for a particular purpose. Brown Advisory will not be responsible for any loss or damage that could result from interception by third parties of any information made available to you via this site.

    Although the information provided to you on this site is obtained or compiled from sources we believe to be reliable, Brown Advisory cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you for any particular purpose.

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    Brown Advisory respects the intellectual property of others and asks that you do the same. If you believe that your copyrighted work is accessible on this site in a way that constitutes copyright infringement, you may notify us by providing our Copyright Agent with the following information: 1) the electronic or physical signature of the owner of the copyright or of the person authorized to act on the owner's behalf; 2) a description of the copyrighted work that has allegedly been infringed; 3) identification of the specific location on this site where that work is located; 5) your name, address, telephone number, and email address; 6) a statement by you, made under penalty of perjury, that the above information in your notice is accurate and that you are the copyright owner or authorized to act on the copyright owner's behalf.

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    These Terms of Use shall be governed by and construed in accordance with the laws of the Maryland, without giving effect to any principles of conflicts of law. If you take legal action arising out of or relating to these terms and conditions, you agree to file such action only in the state or federal courts located in the City of Baltimore, and you hereby consent and submit to the personal jurisdiction of such courts for the purposes of litigating any such action. If any provision of these terms is deemed unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from these terms and shall not affect the validity and enforceability of any remaining provisions. This is the entire agreement between Brown Advisory and the user relating to the subject matter herein.

    At Brown Advisory, we believe that you deserve frank and open communication on all aspects of our relationship. In this spirit, we provide this annual summary of our policies relating to confidentiality and privacy of client information, mutual funds, conflicts of interest, trading commissions, proxy voting and Form ADV annual notice.

    CONFIDENTIALITY AND PRIVACY POLICY
    Brown Advisory takes the confidentiality of your personal information and the privacy of your account very seriously. Our commitment to safeguard your personal information goes beyond our legal obligation to process your transactions accurately and securely. Whether we serve you online, in person, on the telephone or by mail, the principles that guide the way in which we conduct business are built upon the core values of trust and integrity.
    We limit access to your personal information to only those employees with a business reason to know such information. We train and consistently remind all employees to respect client privacy and to recognize the importance of the confidentiality of such information. Those who violate our privacy policy are subject to disciplinary action. This commitment also applies to the sharing of information among Brown Advisory and its affiliates.
    We maintain physical, electronic and procedural safeguards that comply with applicable laws and regulations to protect your personal information, including various measures to protect your personal information while it is stored electronically.
    Federal law requires us to inform you that we have on record personal information about you and that we obtain such information from you directly (e.g., information you provide to us on account applications and other forms, such as your name, address, social security number, occupation, assets and income) and indirectly (e.g., information on our computer systems about your transactions with us, such as your account balance and account holdings). Any personal information you choose to provide is kept confidential and allows us to: (i) provide better and more complete investment and strategic advice; (ii) develop new services that meet additional needs you may have; and, (iii) comply with legal and regulatory requirements.
    In addition, in the normal conduct of our business, it may become necessary for us to share information relating to our clients that we have on record, as described above, with companies not affiliated with us who are under contract to perform services on our behalf. For example, we have contracted with companies to assist us in complying with anti-terrorist and anti-money laundering statutory requirements (including the identification and reporting of activities that may involve terrorist acts or money laundering activities), companies that provide clearing services, and other vendors that provide services directly related to your account relationship with us. Our agreements with these companies require that they keep your information confidential and not use such information for any unrelated purpose.

    We do not sell information about you to third parties, and we do not otherwise disclose information to third parties without your permission or unless required by law.  
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    Opportunities in Green Investing
    May 21,2009

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    Jack W. Robinson
    Founder and President, Winslow Management Company


     

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