BIAFX – Brown Advisory Flexible Equity Inv Investment Strategy | Morningstar

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Strategy

The investment seeks to achieve long-term growth of capital. Under normal conditions, Brown Advisory LLC (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. The fund invests primarily in a portfolio of equity securities issued by large, middle and small capitalization companies that the adviser believes have strong, or improving, long-term business characteristics and share prices that do not reflect certain favorable fundamental attributes.

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
BIAFX	Brown Advisory Flexible Equity Fund Investor Shares	No Load	Open			Nov 30, 2006	$561.49M	0.670%	Below Average	$100	−$82.77M
BAFAX	Brown Advisory Flexible Equity Fund Advisor Shares	No Load	Open			Jan 24, 2007	$7.31M	0.920%	Above Average	$100	−$2.71M
BAFFX	Brown Advisory Flexible Equity Fund Institutional Shares	Institutional	Open			Oct 19, 2012	$393.87M	0.520%	Below Average	$1M	−$88.93M

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