Investment approach We seek competitive risk-adjusted returns over a full market cycle while providing a margin of safety over time by investing in a concentrated portfolio of companies that we believe have durable fundamental strengths, exhibit capital discipline, attractive valuation and a Sustainable Cash Flow Advantage (SCFA). Strategy profile We seek to identify companies that possess a SCFA through the use of our 3P investment filter. Companies that exhibit SCFA typically have sustainable strategies or attributes that have the potential to drive ESG outcomes because of their focus on their people, processes and/or products. We believe that these are the three things that companies can control – building a strong culture, focusing on operational excellence or diversification within a product or service range. Further information can be found here. Introducing the Strategy – interview with Michael Poggi and Katherine Kroll Vehicle: Mutual Fund The views expressed are those of the author and Brown Advisory as of the date referenced and are subject to change at any time based on market or other conditions. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this material is not intended to be and should not be considered to be a recommendation or suggestion 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. To the extent specific securities are mentioned, they have been selected by the author on an objective basis to illustrate views expressed in the commentary and do not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy, and is not a complete summary or statement of all available data. ESG 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. ESG analysis may not be performed for every holding in the strategy. ESG considerations that are material will vary by investment style, sector/industry, market trends and client objectives. The strategy 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 strategy may invest in companies that do not reflect the beliefs and values of any particular investor. The strategy 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 strategy intends to invest in companies with measurable ESG outcomes, as determined by Brown Advisory, and may seek 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. 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.