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 [email protected].

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.

CHINA’S AGE OF AMBITION

Friction will probably persist in Sino-U.S. relations as China grows increasingly assertive and discards its long-standing strategy to “hide strength and bide time,” according to Evan Osnos, a China specialist and correspondent with The New Yorker. “We are in an era of strategic anxiety with China,” Osnos said in a NOW presentation. “It’s not at all clear what the intentions of each side is with respect to the other,” and “there will almost certainly be much more friction to come in the next few years.”

Brown Advisory'd NOW 2016 | Navigating Our World

Watch highlights from the NOW 2016 session titled, China’s Age of Ambition.

Beijing has taken a more aggressive stand beyond its borders than any time in decades, rapidly enlarging contested reefs and islands in the South China Sea for military purposes, Osnos said. Still, China does not aim to replace the U.S. overnight as the dominant global power because it recognizes the high cost of leading the world against such threats as Ebola and ISIS. Instead, China wants to rise to the status as one of several great powers in a multipolar world, Osnos said.

Washington needs to pursue a nuanced policy as it sustains beneficial contacts in trade and other fields while resisting disruptive moves by Beijing, including its buildup in the South China Sea, Osnos said. “We sometimes use a blunt instrument when we need a scalpel.”

Based in Beijing from 2005 until 2013, Osnos won the National Book Award in 2014 for Age of Ambition: Chasing Fortune, Truth and Faith in the New China.

The U.S. and China should seek to avoid the “Thucydides Trap,” in which an incumbent power and newly emerging rival fail to resolve differences and eventually clash, Osnos said. Thucydides, a fifth century B.C. historian, chronicled hostilities between Sparta and Athens in History of the Peloponnesian War. Outright conflict has flared in 11 of the 15 cases in history in which a rising power has challenged an incumbent, Osnos said.

Brown Advisory's NOW 2016 | CHINA’S AGE OF AMBITION
Many viewing China from the outside struggle to reconcile how two fundamentally different stories—on one hand the Communist Party seeking to maintain strict control, and on the other the millions of Chinese citizens rapidly reaching new heights of individual success—can take place within the same nation. The New Yorker correspondent Evan Osnos tackles this essential conflict in Age of Ambition: Chasing Fortune, Truth and Faith in the New China, the recipient of the 2014 National Book Award for nonfiction. In this session he will share his views regarding China’s evolution in recent decades, offering in the words of James Fallows a better understanding of China’s process of ‘becoming’ than most people could ever gain by living there.Growing bilateral competition coincides with an intertwining of interests in such areas as finance, trade, nonproliferation and anti-terrorism, prompting contradictions in the U.S. perception of China, according to Osnos. Americans simultaneously view China’s economy as both strong and vulnerable, while in geopolitics, they see Beijing as both a partner and an adversary, he said.

As President Xi Jinping more aggressively pursues China’s global interests, he has amassed more power in domestic politics than any other Chinese leader since Mao Zedong, Osnos said. Xi aims to avert disorder at all costs, having grievously suffered with his family at the hands of the Red Guards during the Cultural Revolution (1966-1976).

China’s president, according to Osnos, aims to overcome three challenges to stability:

Economic stagnation. China’s economy has slowed after decades of rapid growth, and public dissatisfaction may swell as expectations for greater prosperity go unmet. Xi recognizes that transitioning from an export- and investment-oriented economic policy toward reliance on services and consumption would likely spur growth, Osnos said.

Corruption. Xi has launched the harshest crackdown against graft in decades, mindful that crooked officials undermine the Communist Party’s credibility and the effectiveness of the government, according to Osnos.

Foreign influence. Xi sees threats to political order from new technology and Western concepts, such as individualism and democracy, Osnos said. He believes a firm hand is the best way to avert such tumult as the collapse of the Soviet bloc more than two decades ago, unrest in Tibet in 2008 and Xinjiang Province in 2009, and the Arab Spring uprisings in 2011.

Xi aims to pose a “counterargument to the allure of Western ideas” by promoting the notion of a “Chinese Dream,” in which an increasingly prosperous China becomes a dominant civilization, according to Osnos.

 

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.

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