Brown Advisory Global Leaders (BIALX) Fund Profile

Global Leaders Fund Fact Sheet

Global Leaders Fund 4Q2015 Commentary

The Brown Advisory Opportunity Fund was merged into the Brown Advisory Global Leaders Fund effective October 23, 2015.

The Brown Advisory Global Leaders Fund seeks to achieve capital appreciation by investing primarily in global equities.

The Fund will invest in equity securities of companies that the portfolio manager believes are leaders within their industry or country, as demonstrated by an ability to deliver high relative return on invested capital over time. The manager believes that high returns on capital typically can be attributable to, among other things, a strong competitive position and defensible barriers to entry.

The Fund may invest in common stock, preferred stock, equity-equivalent securities such as stock futures contracts and equity options, other investment companies, American Depositary Receipts ("ADRs"), Global Depositary Receipts ("GDRs"), and exchange traded funds ("ETFs"). The equity securities in which the Fund may invest will generally be issued by mid- and large-capitalization companies. In addition to those securities, the Fund may also invest in convertible bonds, Rule 144A securities, U.S. Treasury bills, fixed and/or floating rate U.S. government securities, real estate investment trusts and unlisted securities.

The manager seeks to build a concentrated portfolio of fundamentally sound companies that is characterized by low turnover, high active share and the potential to deliver attractive outperformance over time. Under normal circumstances, the Fund aims to achieve its investment objective by investing at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. The Fund also will, under normal market conditions: (1) invest at least 40% of its assets outside the United States, or if market conditions are not favorable, at least 30% of its assets outside the United States, and (2) hold securities of issuers located in at least three countries.



(As of March 31, 2017) 3-month 1-year 3-year Since Inception
Global Leaders Fund (Inv.) 9.03% 8.67% N/A 3.60%
Russell Global Large-Cap Net Index 6.85% 15.04% N/A 5.17%


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. Alphabet Inc  4.5%
2. Visa Inc 4.2%
3. Mastercard Inc


4. Taiwan Semiconductor Manufacturing 3.9%
5. Estee Lauder Cos Inc 3.9%
6. Unilever PLC 3.7%
7. Microsoft Corp 3.7%
8. JPMorgan Chase & Co 3.7%
9. Starbucks Corp 3.4%
10. TJX Cos Inc 3.4%



(As of December 31, 2016)
Return on Invested Capital    14.5
Est. 3-5 Year EPS Growth Rate   13.6%
Forward P/E Ratio   21.1x
P/E Using FY 2 Est.    x
Weighted Average Market Capitalization ($B)   115.2x


*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.

*Expense Waivers are 0.59% in each share class. The contractual waivers and expense reimbursements may be changed or eliminated at any time by the Board of Trustees, on behalf of a Fund, upon 60 days written notice to the Adviser. The contractual waivers and expense reimbursements may not be terminated by the Adviser without the consent of the Board of Trustees. The contractual waivers will remain in effect until October 30, 2017.

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.

Mick Dillon, CFA, is a partner at Brown Advisory and portfolio manager of the Global Leaders Fund. Before joining Brown Advisory, Mick worked at HSBC Global Asset Management in Hong Kong where he was the Co-Head of Asian Equities. He is originally from Australia and graduated from the University of Melbourne where he was awarded three Bachelor degrees in six years.

Education: University of Melbourne, B.A. (1991-1996)


©2016 Brown Advisory Funds      All Rights Reserved.      Privacy Policy

You are now leaving the mutual fund site.

By selecting "accept" below, you confirm and accept that you are an institutional client and are acting on behalf of your client as their authorised adviser or are seeking information as a representative of an institution and that you have read and understood the terms on which the information is being provided.

The information in this section of the website is for information purposes only and does not constitute a recommendation or investment advice to buy or sell securities.

For some clients based outside the U.S., other Brown Advisory strategies may meet their needs and objectives more effectively than those referred to in this section of the website. For information on these strategies please see U.S. Investment Capabilities.

For information on separately managed accounts for institutions and individuals, please contact Polly Corry at

This section of the website contains information about the funds of Brown Advisory Funds plc (the “Company” or the “Funds”). The Company is authorised in Ireland as an undertaking for collective investment in transferable securities (“UCITS”). Information in relation to the Funds is provided in the United Kingdom by Brown Advisory Limited, which is authorised and regulated by the Financial Services Authority of the United Kingdom. The Funds are all recognised schemes under s.264 of the Financial Services and Markets Act 2000. In the United Kingdom, any information contained in this section of the website that relates to the Funds is communicated only to, and/or directed only at persons who fall within the definitions of “professional client” or “eligible counterparty” as set out in the FSA Handbook of Rules and Guidance. In the United Kingdom, the opportunity to invest in the Funds is only available to such persons and no other person should act or rely on the information contained in this section of the website that relates to the Funds.

The contents of this section of the website have not been prepared for the benefit of investors outside the United Kingdom. They are not directed at any person or entity in the United States, nor are they intended for distribution or to be used by any person or entity in the United States. In some countries, the distribution of information in this section of the website may be restricted: it is your responsibility to find out what those restrictions are and to observe them. Brown Advisory cannot be liable for a breach of such restrictions. Non-UK investors should consider their local regulations before considering investment.

Any subscription to shares in the Funds can only take place under the terms of the Company's Prospectus which may differ from the terms set out in this section of the website.

By clicking "Back" below I indicate that I have read the above terms and do not wish to continue into this section of the web site.

By clicking "Accept" below I indicate that I have read and accept the terms above and wish to continue into this section of the web site.