Investment approach We employ integrated fundamental and ESG research, supplemented by investigative research to uncover businesses that we believe possess strong fundamental and sustainable competitive advantages, growth and profitability, and thus have the potential to compound returns over the long term. We believe companies with strong competitive advantages and moats from a fundamental and sustainability perspective, that have reinvestment opportunities at high returns on invested capital (ROIC), capable and rightly incentivized management teams and are undervalued over a long-term investment horizon have the ability to compound returns and generate attractive risk-adjusted excess returns throughout the economic cycle. Fund profile The Brown Advisory Sustainable International Leaders Fund is an actively managed, concentrated portfolio of international companies that we believe are and will continue to be leaders in their sector or industry; these companies have strong competitive advantages, from a fundamental and sustainability perspective, and we believe they offer compelling growth and profitability prospects. The Fund is benchmarked to the FTSE All-World ex-US Index, and is focused on investment outcomes and sustainability, combining a proven investment process with our proprietary ESG research methodology. 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. There is no guarantee that the initial investment will be returned. ESG 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 have desirable ESG outcomes, but investors may differ in their views of what constitutes positive or negative ESG outcomes. 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 screened out of other ESG oriented funds. Security selection will be impacted by the combined focus on ESG assessments and forecasts of return and risk. The Fund intends to invest in companies with measurable ESG outcomes, as determined by Brown Advisory, and seeks to screen out particular companies and industries. 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. The Fund launched on 02/28/2022. Holdings will be published when they are available as of 03/31/2022. The Fund’s performance for very short time periods may not be indicative of future results. 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.