Fact sheet: Brown Advisory Us Smaller Companies

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
US EQUITIES
Sector
FO Equity - Small Cap USA
Fund type
OEIC
Primary aim
GROWTH
Why Money Observer Rates Brown Advisory Us Smaller Companies

New for 2018. Seeks companies with competitive advantages

This fund invests in a portfolio of small US companies that are expected to produce above-average growth. Through a disciplined, bottom-up investment process, Christopher Berrier (its manager since inception) strives to exploit market inefficiencies in the small-company universe. The types of companies he looks for are diversified, high-quality businesses with sound management teams and competitive advantages that he believes can grow faster than the wider market over a full market cycle.Brown Advisory's investment philosophy is based on a belief that concentrated portfolios derived from sound fundamental research, coupled with low turnover, can generate attractive outperformance. The fund typically has 50 to 80 holdings (around 70 at the end of 2017) and is tilted towards internet, media, consumer and business services. The US-based manager can draw upon an investment network of venture capital, private equity and other fund managers within the firm, which he says give him a potential information advantage.Berrier points to another strong year for small company equities during 2017. He says that low interest rates, a steady US economy and reasonable levels of relative share price valuations provide a solid rationale for decent returns in 2018. But absolute valuations suggest that he should proceed with increasing caution, and the fund had almost 5 per cent of assets in cash at the end of 2017.<\p>

3 Year Performance
Fund Performance38.1%
Average of Rated Funds Group48.4%
Sector Performance25.9%
Fund information
Fund name
Brown Advisory US Smaller Companies B USD
Fund manager company
Brown Advisory LLC
Fund type
OEIC
Fund managers
  • Christopher A Berriersince 09/11/2007
  • George Sakellarissince 01/11/2017
Accolades
Fund objective
The Fund aims to achieve capital appreciation by investing in a concentrated portfolio of small-cap U.S. equities of above average growth, sound management and favourable competitive positioning. Through our disciplined, bottom-up investment process, we strive to exploit market inefficiencies in the small-cap universe.
Benchmark
  • Russell 2000 Growth
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
19.2%
1 Year rank in sector
13/43
Sector
FO Equity - Small Cap USA
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.93%
Fund size
£317m (£346m last year)
Top in this sector
Fund name1 Year
JPM US SmalCap Gth38.8%
Alger Scv-AlgrSmCp Fcs34.7%
VAM US Small Cap Growth31.8%
VAM US Micro Cap Growth31.7%
New Capital US Sm Cap Gth30.4%
...more in FO Equity - Small Cap USA

Performance snapshot

Holdings snapshot

  • USA96.7%
    Money Market3.3%
  • Information Technology30.7%
    Industrials22.8%
    Health Care17.7%
    Consumer Discretionary12.3%
    Financials6.5%
  • US Equities96.7%
    Money Market3.3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.1%2.1%6.2%19.2%38.1%98.8%
Sector-0.6%-0.2%5.5%16.2%25.9%79%
Rank within sector36 / 4610 / 4518 / 4513 / 435 / 328 / 27
Quartile4th1st2nd2nd1st2nd
Calendar performance
 YTD - 20182017201620152014
Fund6%17.8%10.4%7.6%0.6%
Sector2.4%14.2%18.3%-4.1%4.8%
Rank within sector10 / 4511 / 4228 / 352 / 3223 / 27
Quartile1st2nd4th1st4th
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
4.6
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.79
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.6
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
11.7
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.08
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.5
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.77
Price movement
52 week high24.65
52 week low20.26
Current bid price-
Current offer price-
Current mid price24.07
Region
1USA96.7%
2Money Market3.3%
Industry sector
1Information Technology30.7%
2Industrials22.8%
3Health Care17.7%
4Consumer Discretionary12.3%
5Financials6.5%
6Consumer Staples3.8%
7Money Market3.3%
8Telecommunications Utilities2.9%
Asset type
1US Equities96.7%
2Money Market3.3%
Individual holdings
1WASTE CONNECTIONS INC4.8%
2BRIGHT HORIZONS FAMILY SOLUTIONS3.5%
3BROADRIDGE FINL SOLUTIONS INC3.2%
4COGENT COMMUNICATIONS GROUP INC2.9%
5CATALENT INC2.8%
6GENPACT2.7%
7CAVIUM INC2.6%
8CHARLES RIVER LABORATORIES2.3%
9MIMECAST LTD2.3%
Management
Fund manager group
Brown Advisory
Fund manager company
Brown Advisory LLC
Fund type
OEIC
Fund objective
The Fund aims to achieve capital appreciation by investing in a concentrated portfolio of small-cap U.S. equities of above average growth, sound management and favourable competitive positioning. Through our disciplined, bottom-up investment process, we strive to exploit market inefficiencies in the small-cap universe.
Benchmark
  • Russell 2000 Growth
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
Christopher A Berrier09/11/2007Mr. Berrier is a Partner of Brown Advisory and has been the co-manager of the U.S. Small-Cap Growth strategy since joining the firm in September 2005. Prior to joining Brown Advisory, Mr. Berrier was a senior equity analyst and Vice President at T. Rowe Price Group with a primary focus on small- and mid-capitalization growth companies across multiple sectors. He has over 12 years of investment industry experience.
George Sakellaris01/11/2017
Compliance
Transparent for Austrian Tax, IA Recognised, Reporting Fund Status, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Norway, Offshore, Singapore, Sweden
Brown Advisory US Smaller Companies A USD
Initial charge-
Annual charge1.5%
Min single investment£5,000
Min regular saving£5,000
Available in ISANo
Ongoing charge (OCF)1.68%
Total expense ratio (TER)1.71%
Bid price-
Offer price-
Mid price23.1
CurrencyUSD
Price updated17/04/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeAYJ5
Brown Advisory US Smaller Companies B GBP
Initial charge-
Annual charge0.75%
Min single investment£10,000,000
Min regular saving£2,500,000
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.98%
Bid price-
Offer price-
Mid price14.78
CurrencyGBP
Price updated17/04/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeDMY2
Brown Advisory US Smaller Companies B H Acc GBP
Initial charge-
Annual charge0.75%
Min single investment£10,000,000
Min regular saving£2,500,000
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price11.4
CurrencyGBP
Price updated17/04/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNS0S
Brown Advisory US Smaller Companies B USD
Initial charge-
Annual charge0.75%
Min single investment£10,000,000
Min regular saving£2,500,000
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.94%
Bid price-
Offer price-
Mid price24.07
CurrencyUSD
Price updated17/04/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeAYJ4
Brown Advisory US Smaller Companies C USD
Initial charge-
Annual charge0.5%
Min single investment£10,000,000
Min regular saving£2,500,000
Available in ISANo
Ongoing charge (OCF)0.68%
Total expense ratio (TER)0.7%
Bid price-
Offer price-
Mid price19.03
CurrencyUSD
Price updated17/04/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJ8LV
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