Investment approach The Beutel Goodman Large-Cap Value Equity strategy (“the strategy”) uses bottom-up, fundamental research to invest in companies at discounts to their business value, as defined by the present value of their sustainable free cash flow. The Strategy’s investment team believes that stocks purchased at a significant discount to business value have an inherent margin of safety. This approach combined with a focus on quality, growing companies with strong balance sheets, helps avoid the possibility of capital loss. Strategy profile The strategy’s portfolio management team employs a concentrated portfolio of their highest conviction ideas. A fully diversified portfolio typically holds 25 to 30 stocks. The team ensures there is adequate diversification by imposing limitations on the maximum weight in any individual security or sector. The strategy incorporates a process-driven approach to risk management, where there is an automatic review for stocks that exceed their upside or downside targets. Stocks that exceed their upside target are automatically reduced by one-third. Vehicle: Separately Managed Account, Mutual Fund, UCITS Fund. By viewing the documents on this page, you confirm and accept that you are an institutional client and are acting on behalf of your client as their authorized advisor or are seeking information as a representative of an institution and that you have read and understood the terms on which the information is being provided. The information in this section of the website is for information purposes only and does not constitute a recommendation or investment advice to buy or sell securities. Some Brown Advisory strategies may meet your needs and objectives more effectively than those referred to in this section of the website. For more information, please contact us directly. For more information on all U.S. strategies, please see the list of strategies on the right column of this page. The contents of this section of the website have not been prepared for the benefit of investors outside the United States. They are not directed at any person or entity elsewhere, nor are they intended for distribution or to be used by any person or entity outside of the United States. In some countries, the distribution of information in this section of the website may be restricted: it is your responsibility to find out what those restrictions are and to observe them. Brown Advisory cannot be liable for a breach of such restrictions. Non-U.S. investors should consider their local regulations before considering investment.