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Brown Advisory Sustainable Bond Fund
mutual fund
BAISX
Payout Change
Pending
Price as of:
$8.62
+0.01
+0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
BAISX (Mutual Fund)
Brown Advisory Sustainable Bond Fund
Payout Change
Pending
Price as of:
$8.62
+0.01
+0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
BAISX (Mutual Fund)
Brown Advisory Sustainable Bond Fund
Payout Change
Pending
Price as of:
$8.62
+0.01
+0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Name
As of 10/08/2024Price
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
2.9%
1 yr return
10.0%
3 Yr Avg Return
-2.5%
5 Yr Avg Return
0.0%
Net Assets
$579 M
Holdings in Top 10
34.9%
52 WEEK LOW AND HIGH
$8.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.47%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 89.00%
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 10/08/2024Price
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
BAISX - Profile
Distributions
- YTD Total Return 2.9%
- 3 Yr Annualized Total Return -2.5%
- 5 Yr Annualized Total Return 0.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.56%
- Dividend Yield 4.1%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameBrown Advisory Sustainable Bond Fund
-
Fund Family NameBrown Advisory Funds
-
Inception DateAug 07, 2017
-
Shares Outstanding31986328
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAmy Hauter
Fund Description
Under normal conditions, Brown Advisory LLC (the “Adviser”) seeks to achieve the Fund’s investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in either fixed income securities of issuers that satisfy the Fund’s sustainable investment criteria or in securities where the use of the proceeds satisfy the Fund’s sustainable investment criteria, together, the “Investment Criteria” for the Fund. This 80% investment policy is non-fundamental and may be changed without the vote of shareholders. Shareholders will receive 60 days’ prior written notice of any changes to the Fund’s 80% investment policy. The Fund may invest in corporate fixed income securities, mortgage-backed and asset-backed securities, U.S Government securities and securities issued by foreign entities including foreign-sponsored governmental agencies. The fixed income securities in which the Fund may invest may also include municipal securities issued by states, U.S. territories and possessions, general obligation securities and revenue securities. The foregoing may include municipal lease obligations and insured municipal securities. The Fund may also invest in other investment companies that invest in similar fixed income securities and the Fund may count such holdings towards the Fund’s 80% investment policy. The Fund may also engage in “To Be Announced” transactions. Certain of the fixed income securities that the Fund may invest in are often commonly referred to as “labeled bonds.” Labeled bonds include, but are not limited to, “Green Bonds,” “Social Bonds,” “Sustainability Bonds,” or “Sustainability-Linked Bonds.”
The Fund invests in fixed income securities that primarily have a maturity that is between 0 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 the Adviser. Under normal circumstances, the Fund’s portfolio will have an average dollar weighted maturity between 6 and 11 years and an average duration of 3 to 7 years. Duration is a measurement of price sensitivity to interest rate changes.
The Fund may invest up to 20% of its assets in high-yield securities (“junk bonds”), which are speculative in nature. The Fund may invest in securities denominated in non-U.S. currencies. The Fund may also invest in bank loans.
The Fund may invest in derivatives instruments, such as options, currency forwards, futures contracts, including interest rate futures, options on futures, interest rate swaps and credit default swaps. 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. These positions may also be used to manage interest rate risk or to create synthetic exposure to particular credits. 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 Adviser utilizes sustainable investment analysis in connection with the Fund's investments in fixed income securities. As part of the research approach, the Adviser has a process to integrate, identify and consider the sustainable investment related risks and opportunities using a sustainable investment research assessment. The assessment may be conducted at the sector, issuer, or security level. Not every investment will be covered at the issuer or security level. The Fund has access to this research and considers relevant sustainability issues. However, at the Adviser’s discretion, the Fund is permitted to make an investment without a written sustainable investment research assessment on file at the time of purchase, as long as the Adviser believes the security meets the Fund’s sustainable investment criteria.
The Fund’s sustainable investment criteria considers many factors including, but not limited to, any one or more of the following: clean and renewable energy, climate change and water conservation, waste management, natural resource stewardship, innovative efficiency solutions, labor management, community relations, supply chain management, customer well-being, stewardship of debt and capital, board governance and transparency, and business ethics.
The outcomes of the Adviser’s research may result in positive environmental and social impacts. While not a thematic fund, the nature of the Adviser’s research considers sustainable investment themes, such as any one or more of sustainable technology innovation, accessibility of essential services like healthcare, financial inclusion, and climate mitigation.
The Adviser pursues strategic engagement with issuers and other stakeholders in an effort to enhance due diligence and monitor the investment thesis.
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.
BAISX - Performance
Return Ranking - Trailing
| Period | BAISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.9% | -2.4% | 11.1% | 89.08% |
| 1 Yr | 10.0% | -6.8% | 24.6% | 94.18% |
| 3 Yr | -2.5%* | -9.8% | 28.5% | 84.17% |
| 5 Yr | 0.0%* | -7.3% | 58.9% | 69.93% |
| 10 Yr | N/A* | -2.6% | 74.0% | N/A |
* Annualized
Return Ranking - Calendar
| Period | BAISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -0.3% | -16.2% | 8.1% | 95.08% |
| 2022 | -15.2% | -34.7% | 131.9% | 23.40% |
| 2021 | -3.0% | -11.6% | 4.4% | 36.29% |
| 2020 | 4.6% | -10.1% | 946.1% | 41.50% |
| 2019 | 4.6% | -1.7% | 16.9% | 76.83% |
Total Return Ranking - Trailing
| Period | BAISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.9% | -2.4% | 11.1% | 89.08% |
| 1 Yr | 10.0% | -6.8% | 24.6% | 94.18% |
| 3 Yr | -2.5%* | -9.8% | 28.5% | 84.17% |
| 5 Yr | 0.0%* | -7.3% | 58.9% | 69.93% |
| 10 Yr | N/A* | -2.6% | 74.0% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | BAISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.5% | -11.3% | 11.9% | 96.51% |
| 2022 | -13.4% | -32.2% | 131.9% | 44.18% |
| 2021 | -0.3% | -9.4% | 9.2% | 28.95% |
| 2020 | 8.9% | -1.9% | 1009.0% | 35.94% |
| 2019 | 9.0% | 1.1% | 21668.0% | 45.86% |
NAV & Total Return History
BAISX - Holdings
Concentration Analysis
| BAISX | Category Low | Category High | BAISX % Rank | |
|---|---|---|---|---|
| Net Assets | 579 M | 2.9 M | 314 B | 64.69% |
| Number of Holdings | 164 | 1 | 17787 | 90.08% |
| Net Assets in Top 10 | 195 M | 1.62 M | 36.1 B | 61.55% |
| Weighting of Top 10 | 34.95% | 4.4% | 432.9% | 24.85% |
Top 10 Holdings
- United States Treasury Strip Coupon 4.41%
- International Bank for Reconstruction Development 4.39%
- European Investment Bank 4.06%
- First American Government Obligations Fund 3.97%
- Inter-American Development Bank 3.79%
- Kreditanstalt fuer Wiederaufbau 3.19%
- Asian Development Bank 3.17%
- United States Treasury Note/Bond 3.08%
- United States Treasury Note/Bond 2.90%
- Fannie Mae or Freddie Mac 1.98%
Asset Allocation
| Weighting | Return Low | Return High | BAISX % Rank | |
|---|---|---|---|---|
| Bonds | 95.33% | 0.00% | 993.61% | 48.67% |
| Other | 5.52% | -16.55% | 52.94% | 40.80% |
| Cash | 3.97% | -54.51% | 237.69% | 39.47% |
| Convertible Bonds | 0.96% | 0.00% | 7.93% | 69.00% |
| Stocks | 0.00% | 0.00% | 99.99% | 71.12% |
| Preferred Stocks | 0.00% | 0.00% | 71.02% | 66.16% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | BAISX % Rank | |
|---|---|---|---|---|
| Securitized | 36.21% | 0.00% | 98.40% | 31.10% |
| Corporate | 29.35% | 0.00% | 100.00% | 51.49% |
| Government | 19.92% | 0.00% | 86.23% | 61.38% |
| Cash & Equivalents | 3.97% | -0.46% | 237.69% | 39.57% |
| Municipal | 2.88% | 0.00% | 100.00% | 11.12% |
| Derivative | 0.04% | -1.41% | 44.82% | 46.73% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | BAISX % Rank | |
|---|---|---|---|---|
| US | 95.33% | 0.00% | 993.61% | 44.27% |
| Non US | 0.00% | 0.00% | 35.41% | 69.84% |
BAISX - Expenses
Operational Fees
| BAISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.47% | 0.01% | 39.64% | 75.85% |
| Management Fee | 0.30% | 0.00% | 1.76% | 32.75% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| BAISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| BAISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 1.00% | 1.00% | 2.00% | 78.95% |
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.
| BAISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 89.00% | 2.00% | 493.39% | 38.90% |
BAISX - Distributions
Dividend Yield Analysis
| BAISX | Category Low | Category High | BAISX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.07% | 0.00% | 10.11% | 33.98% |
Dividend Distribution Analysis
| BAISX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Quarterly | Monthly | Quarterly |
Net Income Ratio Analysis
| BAISX | Category Low | Category High | BAISX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.56% | -1.28% | 4.79% | 58.84% |
Capital Gain Distribution Analysis
| BAISX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.029 | OrdinaryDividend |
| Aug 30, 2024 | $0.038 | OrdinaryDividend |
| Jul 31, 2024 | $0.028 | OrdinaryDividend |
| Apr 30, 2024 | $0.031 | OrdinaryDividend |
| Mar 28, 2024 | $0.028 | OrdinaryDividend |
| Feb 29, 2024 | $0.028 | OrdinaryDividend |
| Jan 31, 2024 | $0.030 | OrdinaryDividend |
| Dec 26, 2023 | $0.031 | OrdinaryDividend |
| Nov 30, 2023 | $0.028 | OrdinaryDividend |
| Oct 31, 2023 | $0.031 | OrdinaryDividend |
| Sep 29, 2023 | $0.027 | OrdinaryDividend |
| Aug 31, 2023 | $0.032 | OrdinaryDividend |
| Jul 31, 2023 | $0.028 | OrdinaryDividend |
| Jun 20, 2023 | $0.026 | OrdinaryDividend |
| May 31, 2023 | $0.027 | OrdinaryDividend |
| Apr 28, 2023 | $0.023 | OrdinaryDividend |
| Mar 31, 2023 | $0.024 | OrdinaryDividend |
| Feb 28, 2023 | $0.021 | OrdinaryDividend |
| Jan 31, 2023 | $0.022 | OrdinaryDividend |
| Dec 27, 2022 | $0.021 | OrdinaryDividend |
| Nov 30, 2022 | $0.019 | OrdinaryDividend |
| Oct 31, 2022 | $0.016 | OrdinaryDividend |
| Sep 30, 2022 | $0.017 | OrdinaryDividend |
| Aug 31, 2022 | $0.016 | OrdinaryDividend |
| Jul 29, 2022 | $0.014 | OrdinaryDividend |
| Jun 30, 2022 | $0.015 | OrdinaryDividend |
| May 31, 2022 | $0.013 | OrdinaryDividend |
| Apr 29, 2022 | $0.017 | OrdinaryDividend |
| Mar 31, 2022 | $0.014 | OrdinaryDividend |
| Feb 28, 2022 | $0.010 | OrdinaryDividend |
| Jan 31, 2022 | $0.010 | OrdinaryDividend |
| Dec 27, 2021 | $0.013 | OrdinaryDividend |
| Dec 14, 2021 | $0.028 | CapitalGainShortTerm |
| Dec 14, 2021 | $0.114 | CapitalGainLongTerm |
| Nov 30, 2021 | $0.012 | OrdinaryDividend |
| Oct 29, 2021 | $0.010 | OrdinaryDividend |
| Sep 30, 2021 | $0.009 | OrdinaryDividend |
| Aug 31, 2021 | $0.012 | OrdinaryDividend |
| Jul 30, 2021 | $0.012 | OrdinaryDividend |
| Jun 30, 2021 | $0.012 | OrdinaryDividend |
| May 28, 2021 | $0.011 | OrdinaryDividend |
| Apr 30, 2021 | $0.012 | OrdinaryDividend |
| Mar 31, 2021 | $0.016 | OrdinaryDividend |
| Feb 26, 2021 | $0.011 | OrdinaryDividend |
| Jan 29, 2021 | $0.011 | OrdinaryDividend |
| Dec 23, 2020 | $0.015 | OrdinaryDividend |
| Dec 15, 2020 | $0.064 | CapitalGainShortTerm |
| Dec 15, 2020 | $0.142 | CapitalGainLongTerm |
| Nov 30, 2020 | $0.013 | OrdinaryDividend |
| Oct 30, 2020 | $0.015 | OrdinaryDividend |
| Sep 30, 2020 | $0.018 | OrdinaryDividend |
| Aug 31, 2020 | $0.017 | OrdinaryDividend |
| Jul 31, 2020 | $0.020 | OrdinaryDividend |
| Jun 30, 2020 | $0.021 | OrdinaryDividend |
| May 29, 2020 | $0.020 | OrdinaryDividend |
| Apr 30, 2020 | $0.021 | OrdinaryDividend |
| Mar 31, 2020 | $0.024 | OrdinaryDividend |
| Feb 28, 2020 | $0.019 | OrdinaryDividend |
| Jan 31, 2020 | $0.022 | OrdinaryDividend |
| Dec 20, 2019 | $0.026 | OrdinaryDividend |
| Dec 16, 2019 | $0.065 | CapitalGainShortTerm |
| Dec 16, 2019 | $0.052 | CapitalGainLongTerm |
| Nov 29, 2019 | $0.020 | OrdinaryDividend |
| Oct 31, 2019 | $0.027 | OrdinaryDividend |
| Sep 30, 2019 | $0.024 | OrdinaryDividend |
| Aug 30, 2019 | $0.025 | OrdinaryDividend |
| Jul 31, 2019 | $0.029 | OrdinaryDividend |
| Jun 28, 2019 | $0.024 | OrdinaryDividend |
| May 31, 2019 | $0.026 | OrdinaryDividend |
| Apr 30, 2019 | $0.027 | OrdinaryDividend |
| Mar 29, 2019 | $0.025 | OrdinaryDividend |
| Feb 28, 2019 | $0.023 | OrdinaryDividend |
| Jan 31, 2019 | $0.024 | OrdinaryDividend |
| Dec 21, 2018 | $0.026 | OrdinaryDividend |
| Nov 30, 2018 | $0.022 | OrdinaryDividend |
| Oct 31, 2018 | $0.027 | OrdinaryDividend |
| Sep 28, 2018 | $0.021 | OrdinaryDividend |
| Aug 31, 2018 | $0.022 | OrdinaryDividend |
| Jul 31, 2018 | $0.025 | OrdinaryDividend |
BAISX - Fund Manager Analysis
Managers
Amy Hauter
Start Date
Tenure
Tenure Rank
Aug 04, 2017
4.82
4.8%
Amy is a partner and portfolio manager and head of sustainable fixed income at Brown Advisory. She is a portfolio manager on Brown Advisory’s sustainable fixed income strategies which include our Sustainable Core, Tax-Exempt Sustainable and Sustainable Short Duration composites. In 2018, Amy received recognition as a Rising Star from Fund Action and Fund Directions for her work in building out Brown Advisory’s sustainable fixed income platform. She has held numerous speaking engagements, including the United Nations Sustainable Investing Summit in 2019. Amy joined the firm in 2012 and previously worked in fixed income client service at Morgan Stanley.
Colby Stilson
Start Date
Tenure
Tenure Rank
Apr 22, 2022
0.11
0.1%
Colby Stilson is a partner and portfolio manager in the global sustainable fixed income team. He joined Brown Advisory after three years as an investor and operator within private markets, most recently as a partner and executive at TIFIN Group. Prior to that, Colby spent 18 years as an investor in public markets managing credit portfolios and covering industries including TMT, financials, energy, industrials, and sovereigns. His most recent role was at ArrowMark Partners where his responsibilities included research, trading, and portfolio management. He helped lead efforts to build, launch, and manage a corporate credit research platform. Prior to joining ArrowMark, in 2013, Colby helped lead efforts to launch a global fixed income business at Janus Henderson Investors (formerly known as Janus Capital) in London, UK. The first half of his career at Janus was primarily focused on credit and equity research. He began his career within telecommunications M&A at Lumen (formerly known as Level 3 Communications).
Christopher Diaz
Start Date
Tenure
Tenure Rank
Apr 22, 2022
0.11
0.1%
Chris Diaz is a partner and portfolio manager in the global sustainable fixed income team. Prior to joining Brown Advisory in January 2021, Chris was Co-Head of Global Bonds at Janus Henderson Investors, where he managed a team of portfolio managers and analysts across three continents. He was the Lead Manager of the Janus Henderson Global Bond Fund and all related portfolios as well as the Janus Henderson Horizon Total Return Bond Fund. Chris was responsible for developing the global investment process and setting currency, interest rate and asset allocation policy for Janus Henderson global multi-sector portfolios. Prior to joining Janus Capital in 2011, Chris was the Head of Global Rates at ING Investment Management where he was responsible for global macro strategies and oversaw the interest rate, currency and derivative trading desk. He was the Co-Portfolio Manager of the ING Global Bond Fund and all related portfolios. He began his career at SunTrust Equitable Securities in 1997, where he served as a fixed income portfolio analyst. Chris received his Bachelor of Science degree in business administration from the University of South Carolina and earned an MBA with a concentration in finance from Emory University, Goizueta Business School.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.78 | 1.16 |
