Sustainable Growth Fund

Shining sun behind green mountains
Fact Sheet

Investment approach

The Fund seeks long-term capital appreciation by investing in the common stock of mid- and large-cap companies that, in the manager’s view, effectively implement sustainable business strategies to drive their prospects for future earnings growth. The Fund may invest up to 15% of its net assets in non-U.S. and emerging market securities, typically through sponsored American Depository Receipts (ADRs).

Fund profile

The Fund’s investing approach focuses on finding a concentrated portfolio of companies whose:

  • Internal sustainability strategies help generate tangible business benefits, in the form of revenue growth, cost improvement, or enhanced franchise value; as:
  • Products have a competitive advantage as a result of sustainability drivers, such as resource-efficient design or manufacturing; and
  • Products or services offer solutions to long-term sustainability challenges.

Portfolio Sector

(As of Jun 30, 2024)

Sector Fund Benchmark
Communication Services 4.2 12.7
Consumer Discretionary 11.6 14.1
Consumer Staples — 3.8
Energy — 0.5
Financials 16.4 5.7
Health Care 14.1 10.1
Industrials 9.3 5.1
Information Technology 42.5 46.8
Materials 1.9 0.6
Real Estate — 0.7
Utilities — 0.1
Source: U.S. Bank. 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.

Characteristics

(As of Jun 30, 2024)

Portfolio Attribute Fund Benchmark
Number of Holdings 33 440
Wtd. Avg. Market Capitalization ($B) 820.6 1511.6
Wtd. Median Market Capitalization ($B) 150.6 860.5
Earnings Growth 3-5 Yr. Est (%) 20.8 19.4
Price-to-Earnings Ratio (P/E, FY2) 29.3 26.5
Beta 1.0 —
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 the investor share class only. Earnings growth 3-5 year estimate is not a measure of the Fund’s future performance. 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.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 Fund. 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 06/30/2024.
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 Jun 30, 2024)

Share Class Three Months One Year Three Year Five Year Ten Year Since Inception
Investor (BIAWX), Inception: 06/29/2012 2.92 27.31 7.72 16.22 16.15 16.66
Russell 1000 Growth® Index 8.33 33.48 11.28 19.34 16.33 17.23
Gross Expense Ratios: 0.64% (Institutional), 0.79% (Investor), 1.04% (Advisor).
Net Expense Ratios: 0.64% (Institutional), 0.79% (Investor), 1.04% (Advisor).
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 Fund. 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 relies on third parties to provide data and screening tools. There is no assurance that this information will be accurate or complete or that it will properly exclude all applicable securities. Investments selected using these tools may perform differently than as forecasted due to the factors incorporated into the screening process, changes from historical trends, and issues in the construction and implementation of the screens (including, but not limited to, software issues and other technological issues). There is no guarantee that Brown Advisory’s use of these tools will result in effective investment decisions.
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 06/30/2024.
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 Jun 30, 2024)

Name Percentage
NVIDIA Corp 8.3
Microsoft Corp 7.3
Amazon.com Inc 6.6
Intuit Inc 4.6
Alphabet Inc 4.1
ServiceNow Inc 4.1
Visa Inc 3.9
Danaher Corp 3.1
KKR & Co Inc 3.1
Monolithic Power Systems Inc 3.1
Total % of Net Assets 48.4%
Mutual Fund investing involves risk. Principal loss is possible. The Fund’s investment focus on environmental factors could cause it to make or avoid investments that could result in the Fund underperforming similar Funds that do not have an environmental focus. Securities of growth companies can be more sensitive to the company’s earnings and more volatile than the market in general. Investments in smaller and medium capitalization companies generally carry greater risk than is customarily associated with larger companies for various reasons such as narrower markets, limited financial resources and less liquid stock. Investments in foreign securities 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 for emerging markets countries.
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.
© 2023 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Morningstar Rating™ is a trademark of Morningstar, Inc.
Morningstar Rating™ is for the Investor share class only; other classes may have different performance characteristics.
“The Morningstar Rating™ for Funds, or “star rating”, is calculated for managed products (including mutual Funds, variable annuity and variable life subaccounts, exchange-traded Funds, closed-end Funds, and separate accounts) with at least a three-year history. Exchange-traded Funds and open-ended mutual Funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.
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.”
Brown Advisory Sustainable Growth Fund was rated against the following number of U.S. domiciled Large Growth funds over the following time periods: 1,092 funds in the last three years, 1,019 in the last five years and 794 in the last ten years for the period ending  06/30/2024. With respect to these Large Growth funds, Brown Advisory Sustainable Growth Fund received a Morningstar Rating of 3 stars, 3 stars and 5 stars for the three, five and ten-year periods respectively. Morningstar Rating™ is the for the Investor share class only; other classes may have different performance characteristics. Past performance is no guarantee of future results.
Morningstar Rating™ as of 06/30/2024 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 06/30/2024. Fund holdings includes Cash and Equivalents which was 1.9% as of 06/30/2024 and is provided as supplemental information. 
Inception date for Investor share class.
Estimated EPS Growth Rate is not a measure of the Fund's future performance.
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 Fund. 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 relies on third parties to provide data and screening tools. There is no assurance that this information will be accurate or complete or that it will properly exclude all applicable securities. Investments selected using these tools may perform differently than as forecasted due to the factors incorporated into the screening process, changes from historical trends, and issues in the construction and implementation of the screens (including, but not limited to, software issues and other technological issues). There is no guarantee that Brown Advisory’s use of these tools will result in effective investment decisions.
Fund holdings 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.