The Brown Advisory Total Return Fund seeks to provide a competitive total return consistent with the preservation of principal. Investment approach The fund seeks to maximize potential total return through a diversified selection of intermediate-term, high-quality fixed income securities concentrated on the portfolio manager’s best ideas. In pursuit of this, the fund invests at least 80% of its net assets in fixed income securities, such as U.S. Government securities, corporate fixed income securities (including non-investment-grade/”junk bonds”), mortgage-backed and asset-backed securities. Fund profile The fund invests in fixed-income securities that primarily have a maturity that is between zero and 30 years, and are rated in the top four rating categories of a Nationally Recognized Statistical Rating Organization, or unrated and deemed to be of comparable quality by Brown Advisory’s credit research. The fund's portfolio will generally have an average dollar weighted maturity between 6 and 11 years and an average duration of 3 to 7 years.