Brown Advisory Global Leaders Fund Sterling Class B Distribution

Global Growth

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
Name
Brown Advisory Global Leaders Fund Sterling Class B Distribution
Manager
Brown Adv (Ireland) Limited
Type
Open Ended Investment Company
ISIN
IE00BYPJ0V09
Sector
Global
Launched
03/05/2018
OCF
1 %
Yield
0.2 %
Benchmark
FTSE All World NR USD
The objective of the Fund is to achieve capital appreciation by investing primarily in global equities
Holding %
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 %
Region %
United States 56.43 %
Asia - Emerging 13.52 %
Eurozone 11.25 %
Europe - ex Euro 8.70 %
Asia - Developed 6.90 %
Sector %
Financial Services 25.91 %
Technology 20.36 %
Communication Services 18.02 %
Consumer Defensive 9.57 %
Industrials 7.37 %
Consumer Cyclical 7.01 %
Healthcare 6.45 %
Basic materials 5.32 %
Name
Brown Adv (Ireland) Limited
Address
Ireland, Ireland
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

Bertie Thomson
Joined 05/12/2016

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.

Michael Dillon
Joined 05/01/2015

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.

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