Investment approach We seek to identify municipal fixed income securities that are fundamentally undervalued and concentrate the portfolio around the team's best ideas. Strategy profile We believe that sound investment decisions should be based on a security's risk-reward proposition, not macro-oriented forecasts. Our portfolio seeks to perform well in various economic scenarios, with a concentration in positions that have attractive upside greater than downside risk. Our strategy is based on a collaborative, team-oriented investment process, where major portfolio decisions require a consensus of all fixed income team members. This ensures that new ideas are fully vetted and carefully considered from many view points. Objective: Total return Typical Duration Range: 3.5-5.5 years Typical Credit Quality: Investment grade; up to 20% high yield Vehicle: Separately Managed Account, Mutual 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.