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.

THE FUTURE OF COLLEGE: IS IT WORTH THE MONEY?

The payoff from higher education is clear—college graduates generate 65% more in lifetime earnings than people with only a high school diploma. Their advantage has more than doubled since the 1980s, largely because innovation has increased demand for highly skilled workers. Still, such gains require a large upfront investment that for decades has increased faster than inflation. This rising cost of a college diploma has helped fuel the growth in student debt.

Brown Advisory's NOW 2016 | Navigating Our World

Watch highlights from the NOW 2016 session titled, The Future of College: Is It Worth the Money?.

While the burden of such borrowing is widely known, low graduation rates make the debt especially ill-advised, according to the speakers at the NOW 2016 panel titled, “The Future of College: Is It Worth the Money?” For example, community colleges, while charging a student just $6,000 to $10,000 per year, achieve an average graduation rate of just 9%, largely because of the composition of the community college population. Many students are adult learners, transfer students or they are enrolled under an ESOL (English for Speakers of Other Languages) program. The comparatively high student-to-advisor ratio also elevates the dropout rate, according to Philip Bronner, CEO of American Honors.

In contrast, private colleges charge as much as $60,000 per year but achieve an average graduation rate of 59%. Catharine Bond Hill, president of Vassar College, said her institution annually spends about $80,000 per student, exceeding the college’s tuition of $52,000. The college fills the gap to meet its commitment to a low studentteacher ratio and to maintain wellregarded faculty and staff. Vassar’s graduation rate is around 90%.

Brown Advisory's NOW 2016 | THE FUTURE OF EDUCATION: IS COLLEGE STILL WORTH THE MONEY?
Skyrocketing costs, proliferation of Web-based alternatives to campus-based learning, a growing sense that college grads are not learning what’s needed to succeed in the modern economy--all of these trends are shaking the foundations of America’s higher education system. Our panel, which includes Catharine Bond Hill, President of Vassar College, Phil Bronner, Co-Founder of American Honors and Raj Date, Managing Partner of Fenway Summer, will offer their ideas about the current state of higher learning and how they propose to transform the way education is delivered.U.S. college dropout rates are elevated in part because lenders and colleges do not accurately determine the probability of graduation among student borrowers. Colleges receive payment from lenders regardless of the success rate among students, according to Raj Date, managing partner at Fenway Summer. With both lenders and schools paying insufficient attention to graduation rates, debt will probably persist as a significant challenge for many students, Date said. The fact that student loans are not forgiven in the event of bankruptcy makes the burden especially onerous.

If graduation rates remain low and college costs continue to rise, students and their families will have to become more selective. During the next 20 years, some 500 to 1,000 of the 4,500 colleges and universities in the U.S. will probably consolidate or close down.

Restricting student loans is not a reasonable way to push up graduation rates and reduce costs, Hill said. Such a move would put students from lower-income groups at a disadvantage. Instead, institutions could increase affordability by providing online courses. Also, educators should shift the incentive structure to ensure that students, lenders and institutions are accountable for their choices. Promoting responsible decision-making would curb debt, improve graduation rates and ensure that more students graduate onto a path toward prosperity.

 

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.

This communication and any accompanying documents are confidential and privileged. They are intended for the sole use of the addressee. Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties

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