BASAX – Brown Advisory Small-Cap Growth Adv Investment Strategy | Morningstar

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Strategy

The investment seeks to achieve long-term capital appreciation by primarily investing in equity securities. Under normal conditions, the Adviser seeks to achieve the fund's investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in equity securities of small domestic companies. The fund invests primarily in companies the Adviser believes have above average growth prospects. Equity securities include domestic common and preferred stock, convertible debt securities, American Depositary Receipts ("ADRs"), real estate investment trusts ("REITs") and exchange traded funds ("ETFs").

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
BIASX	Brown Advisory Small-Cap Growth Fund Investor Shares	No Load	Open			Jun 28, 1999	$254.14M	1.110%	Average	$100	−$152.40M
BASAX	Brown Advisory Small-Cap Growth Fund Advisor Shares	No Load	Open			Apr 25, 2006	$5.78M	1.360%	High	$100	−$1.67M
BAFSX	Brown Advisory Small-Cap Growth Fund Institutional Shares	Institutional	Open			Sep 20, 2002	$266.97M	0.960%	Above Average	$1M	−$216.07M

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