Investment approach

The fund seeks impact through by investing in a concentrated portfolio of high-conviction bonds that have undergone concurrent fundamental and ESG research. In pursuit of this goal, the fund will invest at least 80% of the value of its net assets (plus borrowings for investment purposes) in fixed income securities of issuers that satisfy the fund's investment and ESG criteria. The fund invests in corporate, municipal, mortgage-backed and asset-backed fixed income securities that are issued as “Green Bonds” or that otherwise meet the fund’s ESG criteria. Additionally, the fund also invests in securities issued by the U.S. Government and foreign government entities that are both dollar-and non-dollar-denominated.

Fund profile

The fund’s portfolio will generally seek to have an average dollar weighted maturity between 6 and 11 years and an average duration of 3 to 7 years.

(As of Sep 30, 2021)

Fund Benchmark
AAA/Aaa 46.4 71.1
AA/Aa 5.0 3.2
A 9.6 11.2
BBB 30.2 13.7
High Yield 4.9 0.5
Not Rated 3.9 0.4
Credit quality is calculated using ratings assigned by Moody’s. If Moody’s does not rate a holding then Standard & Poor’s is used. If Moody’s and Standard & Poor’s do not rate a holding then Fitch is used. A bond is considered investment grade if its credit rating is BBB- or higher according to Standard & Poor’s; more specifically, a rating of “AAA” represents the highest credit quality with minimal risk of default and a rating of “BB” or below represents speculative financial security. High Yield, if noted, includes holdings that are rated BB+ or lower according to Moody’s. Not Rated category, if noted, includes holdings that are not rated by any rating agencies. All ratings are as of 09/30/2021.

(As of Sep 30, 2021)

Fund Benchmark
< 1 Year 8.6 1.1
1 to 3 Years 21.5 22.2
3 to 5 Years 30.9 29.3
5 to 7 Years 6.7 20.4
7 to 10 Years 10.9 8.4
Greater than 10 Years 19.2 18.5
Source: FactSet® Duration distribution includes cash and equivalents. Distribution is subject to change and should not be considered a suggestion or a recommendation 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.

(As of Sep 30, 2021)

Sector Fund Benchmark
Cash & Equivalents -2.6
US Government 11.6 40.3
Non-US Government 2.4 3.0
Corporate 36.4 26.1
Mortgage 25.0 27.4
CMBS 14.7 2.1
ABS 6.6 0.4
Municipal 3.6 0.7
Unassigned 2.2
Source: Advent Portfolio Exchange®for Fund data, FactSet® for benchmark data. Sector breakdown includes cash and equivalents, are subject to change at any time and should not be considered a suggestion or recommendation 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. Figures may not total 100 due to rounding.

(As of Sep 30, 2021)

Portfolio Attribute Fund Benchmark
Avg. Credit Quality A1 Aa2
Effective Duration (years) 5.7 6.6
Yield to Worst (%) 1.8 1.6
Avg. Life (years) 7.5 8.5
30-Day SEC Yield Unsubsidized (%) 1.01
Source: Fund net assets provided by U.S.Bank; portfolio characteristics from FactSet® and include cash and equivalents. Total net assets are as of the last day of the quarter and include all share classes.   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 09/30/2021. 
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, 2021)

Share Class Three Months YTD One Year Three Year Five Year Ten Year Since Inception
Investor (BASBX), Inception: 08/07/2017 0.11 -0.45 0.48 6.10 4.00
Bloomberg Aggregate Bond Index 0.05 -1.55 -0.90 5.36 3.59
Gross Expense Ratio: 0.46% (Institutional), 0.51% (Investor).
Net Expense Ratio: 0.46% (Institutional), 0.51% (Investor).
Returns greater than one year are annualized.
Performance data quoted represents past performance and is no guarantee of future results. Performance for periods greater than one year is annualized. 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. Performance for other share classes will vary. Shares redeemed or exchanged within 14 days of purchase will be charged a 1.00%fee.Performance data quoted does not reflect the redemption or exchange fee. If reflected, total returns would be reduced. For the most recent month-end performance, please call 1-800-540-6807.
 
 
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 09/30/2021.
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.

(As of Sep 30, 2021)

Name Percentage
First American Government Obligations Fund 0.02% 11.2
Fannie Mae or Freddie Mac, 2.50% 5.2
Ginnie Mae, 2.00% 4.2
United States Treasury Note/Bond, 0.13% Due 01/15/2024 3.3
United States Treasury Note/Bond, 2.75% Due 04/30/2023 3.3
International Bank for Reconstruction & Development, 0.63% Due 04/22/2025 1.7
Freddie Mac Pool SD0580, 3.00% Due 04/01/2051 1.5
BX Commercial Mortgage Trust 2021-VOLT 2021-VOLT D, 1.75% Due 09/15/2036 1.4
Government National Mortgage Association 2021-84 ED, 1.00% Due 07/16/2060 1.3
Fannie Mae Pool CB1050, 2.50% Due 07/01/2051 1.3
Total 34.2
Source: U.S. Bank. Portfolio holdings include cash and equivalents. Fund holdings are subject to change and should not be considered a suggestion or recommendation 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.
Mutual fund investing involves risk. Principal loss is possible.
Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in Asset-Backed and Mortgage-Backed securities include additional risks that investor should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. In addition, the fund is susceptible to risks from investments in derivatives, U.S. Government securities, municipal securities 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.
Fund holdings are subject to change and should not be considered a recommendation to buy or sell any security.
The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.” Morningstar Rankings represent a fund’s total-return percentile rank relative to all funds that have the same Morningstar Category. The highest percentile rank is 1 and the lowest is 100. It is based on Morningstar total return, which includes both income and capital gains or losses and is not adjusted for sales charges or redemption fees. Past performance is no guarantee of future results. Brown Advisory Sustainable Bond Fund was rated against the following numbers of U.S. domiciled Intermediate-Term Core-Plus funds over the following time periods: 571 funds in the last three years for the period ending 09/30/2021. With respect to these Intermediate-Term funds, Brown Advisory Sustainable Bond Fund received a Morningstar Rating of 3 stars for the three-year period. Morningstar Rating™ as of 09/30/2021 for Investor Shares (derived from a weighted average of the fund’s three-, five- and 10-year risk adjusted return measure).
Total assets under management value as of 09/30/2021. 
Inception date for Investor share class.
 
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.