Brown Advisory Flexible Equity (BIAFX) Fund Profile

Flexible Equity Fund Fact Sheet


The Brown Advisory Flexible Equity Fund seeks to achieve long-term growth of capital.


The Brown Advisory Flexible Equity Strategy searches across a broad investment universe to find attractive or improving businesses at bargain prices. We believe this flexible approach should allow the strategy to capitalize on undervalued shares in attractive businesses no matter whether the stocks are statistically characterized as "value" or "growth" investments. The strategy seeks long-term outperformance vs. its benchmark, the S&P 500 Index.



The fund consists of a moderately concentrated portfolio of mid/large-cap companies with a market cap typically greater than $2 billion.

We seek to buy businesses with good long-term economics and capable management on a bargain basis by:

  • Taking advantage of temporary adversity or market disfavor;
  • Identifying a significant change that may improve business prospects; and
  • Identifying an up-and-coming business early in its life and before it becomes widely recognized.



(As of March 31, 2017) 3-month 1-year 3-year 5-year Since Inception
Flexible Equity Fund (Inv.) 6.14% 17.69% 8.22% 12.54% 6.25%
S&P 500 Index 6.07% 17.17% 10.37% 13.30% 7.47%


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.


Top 10 Holdings

(As of December 31, 2016)
1. Berkshire Hathaway Inc 5.4%
2. Visa Inc 4.9%
3. Alphabet Inc. (Class A&C)* 4.6%
4. CarMax Inc 4.3%
5. Wells Fargo & Co 4.2%
6. Cash & Equivalents 4.1%
7. Mastercard Inc 3.7%
8. Priceline Group Inc/The 3.6%
9. Charles Schwab Corp/The 3.4%
10. Lowe's Cos Inc 3.1%



(As of December 31, 2016)
Est 3-5 Yr EPS Growth Rate   10.5%
Forward P/E Ratio   18.8x
P/E using FY2 Est   17.1x
Weighted Average Market Cap   $158.9 B


Sector Exposure

(As of December 31, 2016)
Energy   5.0%
Materials   0.0%
Industrials   7.1%
Consumer Discretionary   18.2%
Consumer Staples   1.4%
Healthcare   11.5%
Financials   24.5%
Information Technology   30.6%
Real Estate   1.8%
Telecom Services   0.0%
Utilities   0.0%
Total   100.0%


The Brown Advisory Value Equity Fund was merged into the Brown Advisory Flexible Equity Fund effective December 2, 2016.

*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.

Estimated EPS Growth Rate is not a measure of the fund's future performance.

*Alphabet Inc. represents a 1.4% holding in Class A shares of the stock and 3.4% holding in Class C shares of the stock.

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.


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