Brown Advisory Total Return Fund - Investor Shares
BIATX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Brown Advisory Incorporated
- IPO Date
- Jan 2, 2019
- CIK
- 0001548609
- Similar Companies
- Business
- Brown Advisory Total Return Fund - Investor Shares (BIATX) is an open-end mutual fund that seeks to provide a competitive total return consistent with the preservation of principal through investments in a diversified portfolio of intermediate-term, high-quality fixed income securities. The fund primarily invests in U.S. dollar-denominated bonds with maturities between 0 and 30 years that are rated in the top four categories (AAA/Aaa to BBB), including U.S. government securities, corporate bonds, mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS), and up to 20% in below-investment-grade high-yield securities; it employs a bottom-up, fundamental credit research process emphasizing undervalued opportunities with attractive risk-reward profiles, active duration management targeting 3 to 7 years, and sector diversification across the Bloomberg Aggregate Bond Index universe, supplemented by derivatives for flexibility. The fund distributes dividends monthly and capital gains annually, with an expense ratio of 0.54% for Investor Shares, a minimum investment of $100, and portfolio characteristics including an effective duration of approximately 5.9 years, 207 holdings, and top allocations to U.S. Treasury notes, Fannie Mae pools, and commercial mortgage trusts. Brown Advisory, the fund's investment manager and adviser, founded in 1993 as a unit of Alex. Brown & Sons and independent since 1998 through an employee-led buyout, is headquartered at 901 S. Bond Street, Suite 400, Baltimore, Maryland; the firm operates globally with over 900 employee-owners managing approximately $166 billion in client assets across offices in the U.S. (including Austin, Boston, New York, San Francisco, and Washington, D.C.), London, Singapore, Tokyo, and other locations, serving individuals, families, endowments, foundations, institutions, and financial intermediaries with equity, fixed income, and multi-asset strategies. The BIATX share class, with net assets of about $394 million, was incepted on October 30, 2014, and is managed by Thomas D.D. Graff, CFA, head of fixed income at Brown Advisory since 1999; it targets institutional and retail investors seeking core-plus fixed income exposure with stability and alpha generation relative to the Bloomberg Aggregate Bond Index benchmark. Recent developments at Brown Advisory include advanced talks announced in June 2025 to acquire London-based Marylebone Partners LLP, an outsourced CIO provider specializing in endowment-style portfolios for endowments, foundations, family offices, and charities, aiming to enhance global offerings with co-investments, direct equity/fixed income strategies, and hard-to-access funds while retaining Marylebone's team and client management under Brown Advisory's resources; the deal, pending regulatory approval, aligns with prior expansions such as the May 2025 opening of an Abu Dhabi office led by Jack Weatherby as head of the Middle East and the November 2024 appointment of Sargent McGowan as CIO for endowments and foundations.