Brown Advisory Global Leaders Fund Sterling Class B Distribution
New for 2020. Punchy portfolio of industry leaders
Brown Advisory Global Leaders will soon celebrate its fifth anniversary with a solid performance from a portfolio of companies that the managers believe are leaders within their industry or country and can, therefore, deliver exceptional outcomes for their shareholders – earning it a well-deserved place in our Rated Funds line-up for 2020. In running this fund, Mick Dillon and Bertie Thomson have a clear philosophy – to invest for the long-term in ‘global leaders’ that can compound their returns for many years to come. They define global leaders as companies that have competitive advantages with strong management teams, pricing power, above-industry margins and high return on invested capital that is underpinned by long-term structural growth.
Despite running a high-conviction portfolio of up to 40 names (30 at present), the managers are committed to diversification at a country level. They aim to invest at least 40% of the fund’s assets outside the US (64% at present). The fund’s weighting to the US is lower than many other growth funds, making this a worthy contender for those looking for a global portfolio that is less exposed to the US stockmarket, arguably the most expensive in the world. Sector dispersion is also good, with holdings ranging from technology and financials to industrials and consumer stocks.
“The managers’ willingness to analyse their own performance and mistakes and their constant desire to improve is a further positive,” says Darius McDermott, managing director of FundCalibre. “Performance has been excellent thus far, and we believe the fund can continue to deliver.”
Narrative and ratings content all as of January 2020.See all Money Observer rated funds
|Microsoft Corp||8.36 %|
|Visa Inc Class A||5.39 %|
|Alphabet Inc Class C||4.46 %|
|Mastercard Inc A||4.30 %|
|Taiwan Semiconductor Manufacturing Co Ltd ADR||3.85 %|
|Electronic Arts Inc||3.61 %|
|Roche Holding AG Dividend Right Cert.||3.41 %|
|Tencent Holdings Ltd||3.31 %|
|The Estee Lauder Companies Inc Class A||3.25 %|
|Wolters Kluwer NV||3.20 %|
|United States||56.43 %|
|Asia - Emerging||13.52 %|
|Europe - ex Euro||8.70 %|
|Asia - Developed||6.90 %|
|Financial Services||25.91 %|
|Communication Services||18.02 %|
|Consumer Defensive||9.57 %|
|Consumer Cyclical||7.01 %|
|Basic materials||5.32 %|
Bertie Thomson, CFA, is the co-portfolio manager of the Global Leaders strategy. Prior to joining Brown Advisory in October 2015, Bertie spent 13 years at Aberdeen Asset Management where he was most recently a Senior Investment Manager in the Pan European equity team responsible for 6bn of client assets. Bertie achieved his MA (Hons) in Architectural History from Edinburgh University in 2002.
Mick Dillon, CFA, is the lead portfolio manager of the Brown Advisory Global Leaders strategy. He formerly worked at HSBC Global Asset Management in Hong Kong, where he was the co-head of Asian equities. Mick is originally from Australia and graduated from University of Melbourne, where he was awarded three Bachelor degrees in six years.
Data provided by Morningstar.
The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Money Observer and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.
This information is sourced from our partner Morningstar. We believe the data to be correct however you should take care in using any information.
You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.