Brown Advisory Strategic Bond Fund (BIABX) Profile

Strategic Bond Fund Fact Sheet


The Brown Advisory Strategic Bond Fund (formerly, Brown Advisory Tactical Bond Fund) seeks to achieve capital appreciation and income with a low correlation to interest rate movements.


The Fund seeks to achieve the investment objective by investing at least 80% of the value of its net assets in a broad set of fixed income securities, such as U.S. Government securities, corporate fixed income securities, high yield bonds, bank loans and collateralized loan obligations, tax-exempt municipal bonds, U.S. Treasury bonds, Treasury inflation-protected securities (TIPS), mortgage-backed and asset-backed securities, and derivatives.


The Fund is not managed to a benchmark. This flexibility allows the managers to invest in fixed-income securities of any maturity and/or credit quality rating. Under normal circumstances, the Fund's portfolio will seek to have a duration of one to three years.


Effective October 31, 2014 the Tactical Bond Fund became the Strategic Bond Fund.



(As of March 31, 2017) 3-month 1-year 3-year 5-year Since Inception
Strategic Bond Fund (Inv.) 0.96% 5.08% NA NA 0.89%
Strategic Bond Fund (Adv.) 1.00% 4.82% 1.30% 1.25% 0.88%
Bloomberg Barclays Intermediate US Aggregate
Bond Index
0.68% 0.35% 2.25% 1.95% 2.06%


Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Click here for the monthly and quarterly performance information.

Performance data does not reflect the 1.00% fee on shares redeemed or exchanged within 14 days of purchase, and if it had, returns would be lower.



(As of February 28, 2017)  
30-Day SEC Yield - Investor (pre-waiver) 2.79%
30-Day SEC Yield - Investor (post-waiver) 2.79%
30-Day SEC Yield - Advisor (pre-waiver) 2.54%
30-Day SEC Yield - Advisor(post-waiver) 2.55%



(As of December 31, 2016)
Effective Duration-Years   1.5
Average Maturity-Years   6.2


Top 10 Holdings

(As of December 31, 2016)
1. First American Treasury Obligations Fund 14.2%
2. Fannie Mae Pool 9.8%
3. Fannie Mae Pool 9.6%
4. iShares iBoxx $ High Yield Corporate Bond ETF 3.8%
5. Highbridge Loan Management 6-2015 Ltd 6A-2015 C 2.6%
   3.95% Due 05/05/2027  
6. Symphony CLO XIV Ltd 2014-14A B1 1.9%
  2.93% Due 07/14/2026  
7. Highbridge Loan Management 4-2014 Ltd 4A-2014 A2A 1.9%
  2.94% Due 07/28/2025  
8. Freddie Mac Structured Agency Credit Risk Debt Notes 2015-DNA3 M2 1.3%
    3.61% Due 04/25/2028  
9. OZLM XIII Ltd 2015-13A A2 1.3%
   2.99% Due 07/30/2027  
10. Stewart Park CLO Ltd 2015-1A C 1.3%
   3.78% Due 04/15/2026  


*The minimum investment requirements are waived for qualified retirement plans under Section 401(a) of the Internal Revenue Code ("IRC"), and plans operating consistent with 403(a), 403(b), 408, 408(A), 457, 501(c) and 223(d) of the IRC.

The advisor has contractually agreed to waive fees through 10/31/17.

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.

Click here for index and financial term definitions.

Robert H. Snyder is a Portfolio Manager at Brown Advisory and a member of the Fixed Income Investment Team. Prior to joining the firm in 2014, he was Principal and member of the risk allocation and credit committees at Kingsland Capital, where his primary focus was portfolio construction and management of high yield assets. Mr. Snyder's experience includes both high yield par and distressed credit analysis across multiple industry sectors and security-types. Mr. Snyder graduated from Cornell University in 1997 with a BA in Economics.



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