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Brown Advisory Emerging Markets Select Fund
mutual fund
BAFQX
Payout Change
Pending
Price as of:
$12.81
+0.1
+0.79%
primary theme
Emerging Markets Equity
share class
BAFQX (Mutual Fund)
Brown Advisory Emerging Markets Select Fund
Payout Change
Pending
Price as of:
$12.81
+0.1
+0.79%
primary theme
Emerging Markets Equity
share class
BAFQX (Mutual Fund)
Brown Advisory Emerging Markets Select Fund
Payout Change
Pending
Price as of:
$12.81
+0.1
+0.79%
primary theme
Emerging Markets Equity
share class
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
18.7%
1 yr return
25.8%
3 Yr Avg Return
3.2%
5 Yr Avg Return
8.5%
Net Assets
$574 M
Holdings in Top 10
32.3%
52 WEEK LOW AND HIGH
$12.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.12%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 61.00%
Redemption Fee 1.00%
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
BAFQX - Profile
Distributions
- YTD Total Return 18.7%
- 3 Yr Annualized Total Return 3.2%
- 5 Yr Annualized Total Return 8.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.78%
- Dividend Yield 1.5%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameBrown Advisory Emerging Markets Select Fund
-
Fund Family NameBrown Advisory Funds
-
Inception DateDec 12, 2012
-
Shares Outstanding52687590
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAllison Fisch
Fund Description
Under normal conditions, the Fund seeks to achieve its investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in equity securities issued by companies that are established or operating in emerging market countries. These will consist of companies in emerging market countries in Latin America, Asia, Eastern Europe, Africa, and the Middle East. The Fund intends to invest primarily in the following countries (others may be added as markets in other countries develop):
•Asia: China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, and Vietnam.
•Latin America: Argentina, Belize, Brazil, Chile, Colombia, Mexico, Panama, Peru, and Venezuela.
•Eastern Europe: Croatia, Czech Republic, Estonia, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Romania, Russia, Slovakia, Slovenia, Turkey, and Ukraine.
•Africa and the Middle East: Bahrain, Botswana, Egypt, Israel, Jordan, Kenya, Kuwait, Lebanon, Mauritius, Morocco, Nigeria, Oman, Qatar, Saudi Arabia, South Africa, Tunisia, United Arab Emirates, and Zimbabwe.
The Fund may purchase equity securities of companies of any size capitalization. Equity securities in which the Fund may invest include common stock, preferred stock, equity-equivalent securities such as convertible securities, stock futures contracts, equity options, other investment companies, American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”), Global Depositary Receipts (“GDRs”), Non-Voting Depositary Receipts (“NVDRs”), real estate investment trusts (“REITs”) and exchange traded funds (“ETFs”), and the Fund may also invest in fixed income securities and private placements.
The Fund considers a company to be established or operating in emerging market countries if: (i) it is organized under the laws of or maintains its principal office in an emerging market country; (ii) its securities are principally traded on trading markets in emerging markets countries; (iii) it derives at least 50% of its total revenue or profits from either goods or services produced or sales made in emerging markets countries; or (iv) it has at least 50% of its assets in emerging market countries.
The Fund may invest up to 20% of its net assets in securities of companies that are established or operating in countries that are considered to be outside of emerging markets, which may include other less developed countries as well as developed market countries. Such less developed countries share many similar attributes with emerging markets countries, however, their markets are not yet considered to be as developed as those in the emerging markets.
The Fund may utilize rights, warrants, options, futures contracts and options on futures. These investments will typically be made for investment purposes consistent with the Fund’s investment objective and may also be used to mitigate or hedge risks within the portfolio or for the temporary investment of cash balances. The Fund may also invest in Contracts for Difference or participatory notes which are instruments that are used to replicate the performance of certain underlying issuers and markets. By investing in derivatives, the Fund attempts to achieve the economic equivalence it would achieve if it were to invest directly in the underlying security. Investments in derivatives may be counted towards the Fund’s 80% investment policy if they have economic characteristics similar to the other investments that are included in the Fund’s 80% investment policy. The Fund intends to use the mark-to-market value of such derivatives for purposes of complying with the Fund’s 80% investment policy.
The Fund may invest up to 20% of its net assets in fixed income securities.
The Fund may sell its portfolio securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.
In order to respond to adverse market, economic, political, or other conditions, the Fund may assume a temporary defensive position that is inconsistent with its investment objective and principal investment strategy and invest without limit in cash and prime quality cash equivalents such as prime commercial paper and other money market instruments. A defensive position, taken at the wrong time, may have an adverse impact on the Fund’s performance. The Fund may be unable to achieve its investment objective during the employment of a temporary defensive measure.
BAFQX - Performance
Return Ranking - Trailing
| Period | BAFQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 18.7% | -12.4% | 37.0% | 23.67% |
| 1 Yr | 25.8% | -3.1% | 46.0% | 55.04% |
| 3 Yr | 3.2%* | -11.8% | 13.2% | 15.45% |
| 5 Yr | 8.5%* | -3.1% | 13.0% | 14.15% |
| 10 Yr | 4.1%* | -2.4% | 7.0% | 42.78% |
* Annualized
Return Ranking - Calendar
| Period | BAFQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.8% | -6.5% | 35.5% | 48.88% |
| 2022 | -16.1% | -50.1% | -2.4% | 7.49% |
| 2021 | 0.9% | -33.1% | 22.5% | 20.27% |
| 2020 | 17.9% | -22.1% | 80.1% | 43.77% |
| 2019 | 15.6% | -0.7% | 42.0% | 67.44% |
Total Return Ranking - Trailing
| Period | BAFQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 18.7% | -12.4% | 37.0% | 23.67% |
| 1 Yr | 25.8% | -3.1% | 46.0% | 55.04% |
| 3 Yr | 3.2%* | -11.8% | 13.2% | 15.45% |
| 5 Yr | 8.5%* | -3.1% | 13.0% | 14.15% |
| 10 Yr | 4.1%* | -2.4% | 7.0% | 42.78% |
* Annualized
Total Return Ranking - Calendar
| Period | BAFQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.7% | -2.7% | 42.0% | 52.93% |
| 2022 | -15.1% | -42.2% | 1.9% | 10.66% |
| 2021 | 1.6% | -32.5% | 33.1% | 34.45% |
| 2020 | 18.6% | -20.0% | 81.6% | 46.17% |
| 2019 | 16.9% | 2.3% | 42.0% | 80.50% |
NAV & Total Return History
BAFQX - Holdings
Concentration Analysis
| BAFQX | Category Low | Category High | BAFQX % Rank | |
|---|---|---|---|---|
| Net Assets | 574 M | 682 K | 103 B | 46.30% |
| Number of Holdings | 111 | 10 | 7534 | 43.24% |
| Net Assets in Top 10 | 204 M | 290 K | 23.8 B | 44.21% |
| Weighting of Top 10 | 32.31% | 2.9% | 100.2% | 61.03% |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co Ltd 10.39%
- Samsung Electronics Co Ltd 5.76%
- Tencent Holdings Ltd 4.54%
- First American Government Obligations Fund 2.40%
- SK Hynix Inc 1.60%
- Reliance Industries Ltd 1.59%
- ICICI Bank Ltd 1.56%
- Mahindra Mahindra Ltd 1.56%
- Axis Bank Ltd 1.55%
- Bank Rakyat Indonesia Persero Tbk PT 1.37%
Asset Allocation
| Weighting | Return Low | Return High | BAFQX % Rank | |
|---|---|---|---|---|
| Stocks | 95.53% | 0.00% | 107.82% | 69.60% |
| Cash | 2.64% | -2.03% | 16.88% | 31.66% |
| Preferred Stocks | 1.84% | 0.00% | 13.31% | 27.75% |
| Other | 0.00% | -0.46% | 26.93% | 40.73% |
| Convertible Bonds | 0.00% | 0.00% | 7.40% | 14.89% |
| Bonds | 0.00% | 0.00% | 88.10% | 24.41% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BAFQX % Rank | |
|---|---|---|---|---|
| Financial Services | 26.18% | 0.00% | 48.86% | 14.83% |
| Technology | 25.26% | 0.00% | 47.50% | 32.63% |
| Consumer Cyclical | 14.52% | 0.00% | 48.94% | 27.12% |
| Consumer Defense | 7.54% | 0.00% | 25.90% | 29.10% |
| Communication Services | 7.47% | 0.00% | 39.29% | 69.21% |
| Industrials | 6.68% | 0.00% | 43.53% | 40.25% |
| Utilities | 3.32% | 0.00% | 39.12% | 16.81% |
| Basic Materials | 3.22% | 0.00% | 30.03% | 85.17% |
| Real Estate | 2.38% | 0.00% | 17.15% | 28.81% |
| Energy | 1.84% | 0.00% | 24.80% | 77.12% |
| Healthcare | 1.60% | 0.00% | 16.53% | 85.03% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BAFQX % Rank | |
|---|---|---|---|---|
| Non US | 91.38% | 0.00% | 101.28% | 27.20% |
| US | 4.15% | 0.00% | 100.13% | 80.89% |
BAFQX - Expenses
Operational Fees
| BAFQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.12% | 0.03% | 29.98% | 66.01% |
| Management Fee | 0.90% | 0.00% | 2.00% | 52.23% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.85% | N/A |
Sales Fees
| BAFQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| BAFQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 1.00% | 1.00% | 2.00% | 93.10% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| BAFQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 61.00% | 0.00% | 189.00% | 65.24% |
BAFQX - Distributions
Dividend Yield Analysis
| BAFQX | Category Low | Category High | BAFQX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.45% | 0.00% | 9.74% | 53.14% |
Dividend Distribution Analysis
| BAFQX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annual | Annual | Annual |
Net Income Ratio Analysis
| BAFQX | Category Low | Category High | BAFQX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.78% | -1.98% | 17.62% | 46.89% |
Capital Gain Distribution Analysis
| BAFQX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 26, 2023 | $0.186 | OrdinaryDividend |
| Dec 27, 2022 | $0.128 | OrdinaryDividend |
| Dec 27, 2021 | $0.080 | OrdinaryDividend |
| Dec 23, 2020 | $0.067 | OrdinaryDividend |
| Dec 20, 2019 | $0.115 | OrdinaryDividend |
| Dec 21, 2018 | $0.346 | OrdinaryDividend |
| Dec 27, 2017 | $0.107 | OrdinaryDividend |
| Dec 29, 2015 | $0.090 | OrdinaryDividend |
| Dec 23, 2014 | $0.146 | OrdinaryDividend |
| Dec 27, 2013 | $0.114 | OrdinaryDividend |
| Dec 31, 2012 | $0.004 | OrdinaryDividend |
BAFQX - Fund Manager Analysis
Managers
Allison Fisch
Start Date
Tenure
Tenure Rank
Feb 22, 2019
3.27
3.3%
Allison Fisch, Principal and Portfolio Manager. Ms. Fisch is a co-portfolio manager for the International and Emerging Markets strategies, along with the Global Best Ideas service. Ms. Fisch became a member of the firm in 2001 and helped to launch the Emerging Markets strategies in 2008, on which she has been a co-portfolio manager since inception. She joined the International portfolio management team in 2016 and has co-managed the International Small Cap Value strategy since its inception in 2017. Since 2017, she has overseen the Global Best Idea service. Prior to joining Pzena Investment Management, Ms. Fisch was a business analyst at McKinsey & Company. She earned a B.A. summa cum laude in Psychology and a minor in Drama from Dartmouth College.
Caroline Cai
Start Date
Tenure
Tenure Rank
Feb 22, 2019
3.27
3.3%
Caroline Cai, CFA, Managing Principal, Portfolio Manager, and member of the firm’s Executive Committee. Ms. Cai is a co-portfolio manager for the Global, International, European and Emerging Markets strategies, and the Financial Opportunities service. Ms. Cai became a member of the firm in 2004. Prior to joining Pzena Investment Management, Ms. Cai was a senior analyst at AllianceBernstein LLP, and a business analyst at McKinsey & Company. She earned a B.A. summa cum laude in Math and Economics from Bryn Mawr College. Ms. Cai holds the Chartered Financial Analyst® designation.
Niraj Dilip Bhagwat
Start Date
Tenure
Tenure Rank
Feb 22, 2019
3.27
3.3%
Niraj Bhagwat, CA, is a Senior Managing Director, Equity Portfolio Manager and leader of the firm’s Asia Pacific ex Japan Team. Prior to joining Wellington Management in 2009, Mr. Bhagwat worked as managing director and portfolio manager of global emerging and emerging Asia portfolios for UBS Global Asset Management (2005 - 2008). Before that, he worked there as an analyst of the Asia ex Japan consumer, media, auto, and health care sectors, and as an India strategist (2002- 2004). Prior to that, he was the head of Consumer Research and a research analyst at Indosuez WI Carr (1997-2001) and an article trainee and auditor with Price Waterhouse (1992-1996).
Rakesh Bordia
Start Date
Tenure
Tenure Rank
Feb 22, 2019
3.27
3.3%
Rakesh Bordia, Principal and Portfolio Manager. Mr. Bordia is a co-portfolio manager for the Emerging Markets strategies. Mr. Bordia became a member of the firm in 2007. Prior to joining Pzena Investment Management, Mr. Bordia was a principal at Booz Allen Hamilton focusing on innovation and growth strategies, and a software engineer at River Run Software Group. He earned a Bachelor of Technology in Computer Science and Engineering from the Indian Institute of Technology, Kanpur, India and an M.B.A. from the Indian Institute of Management, Ahmedabad, India.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 33.71 | 6.64 | 13.42 |
