Brown Advisory

Consumers are still spending, but on what? The latest Equity Beat examines how the rising ‘experience economy’ could keep the economic expansion going against the effects of tightening central bank policies. Spending on live experiences is booming – think concerts (Taylor Swift, Beyoncé), films (Barbie), travel and restaurants—while housing and autos show signs of slowing.
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The Equity Beat: Can the Swift Economy Remain on Stage? | Brown Advisory In August, superstar singer and entertainer Taylor Swift completed the first leg of her Eras tour in Los Angeles, performing 52 dates through 20 U.S. cities over the past few months. Despite causing Ticketmaster’s (owned by Live Nation Entertainment) website to crash last November due to overwhelm...

We will always remember those we lost.

We will always appreciate the first responders and rescue workers who risked their lives to help.

We will always support the members of the military who continue to serve, defend, and protect.

On this anniversary and every day, we aspire to learn from those who serve, to emulate their commitment to others, and to appreciate the bonds that knit us together.

“I’m no wine connoisseur, but I can appreciate that fine wines tend to improve with age.” In his latest Equity Beat, Eric Gordon investigates the value of “aged”—i.e., “old economy”—companies and highlights their recent resurgence to market leadership, despite the dominance of the Sensational Seven and newer technologies such as generative AI. While the manufacturing sector continues to contract, Eric explores what we can learn from these more mature industries and shares insights from recent earnings calls.

Read here: https://www.brownadvisory.com/us/insights/equity-beat-old-economy-stocks-aging-fine-wine

The Equity Beat: Old Economy Stocks Aging Like Fine Wine | Brown Advisory Unlike my good friends who frequent Baltimore’s finest dining establishments about as often as the division-leading Orioles win (you know who you are), I would never be confused for a wine connoisseur. Yet through osmosis I’ve learned that aging affords some wines time to become smoother and mel...

We were thrilled to kick off our new series “What’s Next: Conversations about the District’s Future” with Kate Goodall. As the Co-Founder and CEO of Halcyon, Kate is passionate about driving impact through entrepreneurship to solve the pressing social and environmental problems of our time. We walked away with insights about why Washington, D.C. is special, evolving as a leader, creating a competitive advantage through impact, democratizing entrepreneurship, and our shared belief in the power of serendipity—as well as a measure of inspiration. As our series unfolds, we look forward to bringing together thought leaders across disciplines who are making a difference in Washington, D.C.

Our ongoing partnership with The Institute for Responsible Citizenship, led by Dr. Bill Keyes, continues to inspire us. Recently, members of the Brown Advisory team gathered for a special dinner with IRC scholars in Washington, DC—including two of our current summer analysts, Jesiah Matthews and Chris Wright. We have the benefit of working together with several IRC alums who are now Brown Advisory colleagues, including Frank Godfrey III, Pierce Alston and Max Morant.

The IRC selects some of America’s best and brightest African American male college students for an intensive two-summer program in Washington, DC. During their time in the Institute, the scholars live together on a college campus, work at high-level internships in their fields of interest, study economic and constitutional principles, meet privately with prominent public and private sector leaders, participate in professional development workshops, enjoy a variety of social activities, and encourage each other to pursue their highest and noblest ambitions.

Maneesh Bajaj, manager of our Flexible Equity Strategy, recently spoke to FFundCalibreabout the current economic situation in the US and how companies are faring amid various challenges. Maneesh chooses to be optimistic – leaning towards the glass being half full.

Listen to the conversation here: https://www.youtube.com/watch?v=g2fprL5t2cs

You can learn more about the Flexible Equity UCITS fund and read relevant disclaimers here: https://www.brownadvisory.com/intl/funds/brown-advisory-us-flexible-equity-fund

The US economy: the glass is half full Maneesh Bajaj, manager of the Brown Advisory US Flexible Equity fund, discusses the current economic situation in the US and how companies are faring amid va...

This is not the first time that companies have been lured by a popular buzzword or catchphrase to capture the imagination of their investor base.

In this month’s Equity Beat, Eric Gordon explores the impact the term ‘AI’ is having on stock price performance and whether mere association matters more than “truth and substance.”

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The Equity Beat: Would ‘AI’ By Any Other Name Smell As Sweet? | Brown Advisory The famous adage from arguably Shakespeare’s most popular play is the backdrop of our journey this month. Juliet, of the House of Capulet, falls in love with Romeo, a member of the House of Montague, with which the Capulets have a blood feud. Juliet’s profound proclamation that Romeo’s name is...

Thad Glowacki, Portfolio Manager dedicated to OCIO clients, recently presented on a panel at the OCIO East Summit. The panel’s discussion was centered around the current state of the OCIO industry as a growing segment of the asset management industry. The panelists discussed adapting to growth, differentiating themselves from competition, their approach to maintaining returns, increasing specialization, the potential for standardization, regulation and transparency in benchmarking, and more.

Thad was joined by a host of panelists, including: Michael Strauss, Managing Director, Senior Institutional Portfolio Strategist, Bank of America; Marc Murray, Senior Portfolio Manager, Hobbs Group Advisors; Nikki Kraus, CFA, President and Chief Client Officer, Strategic Investment Group; Brian Binkley, Senior Investment Manager, OCIO, Vanguard. The panel was moderated by Mary Cahill, Chief Executive Officer, Chief Investment Officer, Acansa Investment Management Group.

The annual OCIO East Summit comprises of 100+ Outsourced Chief Investment Officers and Institutional Consultants based throughout East Coast and its surrounding states. The one-day meeting includes panel discussions, presentations, Q&A, and networking.

We were pleased to host our 3rd Annual Brown Advisory Charity Soccer Cup benefitting the Volo Kids Foundation. The vision of The Volo Kids Foundation is to build communities of active, resilient and confident kids by unlocking the power of play and removing monetary barriers to athletic participation for underserved youth in cities across the U.S. Over 60 Brown Advisory colleagues have participated in the Volo City Inc. adult leagues, spanning soccer, softball, co****le and basketball.

Thank you to Brown Advisory Volo Board Members Craig Martin, Malorie D’Anniballe and Joey Cahalan for spearheading the Soccer Cup for our colleagues, and Jen Rifkin, Amber Weiner and Kati Wood for your help coordinating!

And congratulations to the Brown Advisory team for raising $28,000 to benefit Volo Kids and for taking home the win—and to Ian Dandridge for being recognized as this year’s MVP.

Yesterday, our colleagues celebrated and the freedom of enslaved people in the United States. To honor the holiday, last week our Black and African American Colleague Resource Group hosted our second Juneteenth Festival in Baltimore. Local Black-owned businesses and organizations joined colleagues for a celebration centered around food and the impact Black Americans have had on American cuisine, culinary innovation, and overcoming challenges to make a difference around hunger, nutrition, and entrepreneurship.

Thank you to Black Acres Roastery, The Black Church Food Security Network (BCFSN), Black Girls Cook, Crust By Mack, Cajou Creamery, DJ 5 Starr, UEMPOWER of Maryland's "The Food Project," KSB African and Caribbean Cuisine, greiBO Entertainment, Ginger's Fresh Juice Co., Pure Diamonds Catering, Sassy Shots, Seedy Nutty, The Be. Org, Twist Event Planning, and Xquisite Catering for joining us—and thank you to our colleagues for honoring this important day in history.

At Brown Advisory we value diversity, equity and inclusion and strive to be a place where colleagues can thrive and be successful. For more information on our diversity, equity and inclusion efforts, please visit us at: https://lnkd.in/gfgpnyt

Brown Advisory, in partnership with our LGBTQ+ Colleague Resource Group, kicked off with “Cross Company Connections,” a networking event focused on the importance of LGBTQ+ representation in the finance industry and beyond.

Thank you to panelists Diana Panunzio, Director of Fixed Income Portfolio Investment at T. Rowe Price, Corey Wallace, Director of Wealth Management Operations at Morgan Stanley, and Joseph Ferlise, Strategic Advisor at Brown Advisory, for discussing their careers, LGBTQ+ identity and the importance of Pride Month. Thanks also to Nicole Nesbitt, Head of U.S. Institutional Sales and Service at Brown Advisory, for moderating the discussion, and Emily St. John, Joey Martin and Miller Douglas for organizing the event—where the energy, passion and compassion were palpable!

We are pleased to share the 2022 impact report for our Tax Exempt Sustainable Fixed Income strategy, managed by Amy Hauter and Stephen Shutz. The report includes a review of how we conduct and use ESG research to drive returns and how the investments in our portfolio are helping to create positive environmental and social outcomes.

Read here: https://www.brownadvisory.com/us/insights/2022-impact-report-tax-exempt-sustainable-fixed-income-strategy

Brown Advisory was proud to partner with Beyond the Billion to bring together a panel of women changing the face of innovation, including Kendra Scott, Chair of Kendra Scott; Iman Abuzeid, CEO of Incredible Health; Sarah Chen Spellings, Co-Founder and Managing Partner of Beyond The Billion; and our very own Elise Liberto, Private Equity Portfolio Manager. Kellie Zesch Weir, Portfolio Manager and Head of the Brown Advisory Austin Office, introduced the group.

Beyond The Billion began as The Billion Dollar Fund for Women, a pledge campaign aimed at mobilizing a global consortium committed to invest $1 billion by 2020 in women-funded companies. Today, Beyond The Billion catalyzes capital to fuel women-led innovation.

We are pleased to share Brown Advisory’s 2023 Annual Report—Independence.

This year’s theme presents an opportunity to discuss perhaps the most important principle underpinning our ability to put clients first in everything we do. As we mark our 25th anniversary as a private and independent company this June, the report also allows us to reflect on the past and on how our experiences over the years can help us meet our clients’ objectives in the future.

As always, we hope our Annual Report offers a helpful insight into our mission for clients, our support for colleagues and our purpose to raise the future for all stakeholders.

Independence | Brown Advisory Annual Report In this annual report, you will read about essential characteristics of our firm, which we believe flow from our choice to be independent. We hope you come away with an understanding of our aspiration to improve—as partners of the clients we are privileged to serve, as investors, as teammates and ...

Congratulations to Brown Advisory board member Christine Fox, who was awarded an honorary degree from Johns Hopkins University during its recent Commencement ceremony. Ms. Fox was recognized for her trailblazing national security career, during which she studied military operations and the role of technology. Now a senior fellow at the Johns Hopkins University - Applied Physics Laboratory, she was often the first woman to serve in male-dominated roles and environments, including at the Department of Defense, where she was appointed acting deputy secretary of defense in 2013, making her, at the time, the highest ranking woman in the history of the Pentagon.

We had the pleasure of celebrating our Washington, D.C. office opening yesterday with dignitaries, clients and colleagues. We were honored that our event included remarks from current D.C. Mayor, Muriel Bowser; former D.C. mayor, Anthony Williams, our CEO, Mike Hankin and current D.C. office head, Brett Gibson.

“Downtown D.C. is where culture and commerce collide, which is a great benefit for our clients and colleagues,” said Brett Gibson, head of Brown Advisory’s Washington office. “From the ability to attract talent across the region, to the opportunity to engage in the countless events and civic organizations in the city, this move supports our long-term growth and network both regionally and globally.”

Serena Sim and Tom Simunovic were thrilled to join Kasikorn Private Bank and Kasikorn Asset Management in Thailand last week to introduce our Large Cap Sustainable Growth Strategy to 150 of their private clients. Tom Simunovic had the opportunity to introduce Brown Advisory and talk about the opportunities to find growth in U.S Large Caps.

Learn more here: https://www.brownadvisory.com/us/strategies/large-cap-sustainable-growth-strategy

We are proud to recognize our colleague Josh Perry who recently received the Calvert Distinguished Alumni Award. The award was created to honor alumni embodying Calvert’s mission and distinguishing themselves in professional accomplishments, service to the community or a philanthropic mission or outstanding service to Calvert School.

https://www.calvertschoolmd.org/they-went-to-calvert-first

We are very pleased to announce the launch our U.S. Sustainable Value Fund under our Dublin UCITS umbrella. The Fund joins our suite of sustainable funds that are available to institutional investors in the UK, Europe and Asia regions and is governed by Article 8 of the Sustainable Finance Disclosure Regulation (SFDR). It follows a successful US mutual fund launch in February for our US Large-Cap Sustainable Value Strategy.

The launch of this new fund is the result of our belief that the vacuum of strategies at the intersection of sustainability and value has created an unmet market need. It will be managed by Michael Poggi and embodies our proprietary fundamental and ESG research capabilities in a market with limited offerings in this space.

Further information can be found here: https://www.brownadvisory.com/intl/brown-advisory-launches-us-sustainable-value-ucits-fund

Past performance is not a guarantee of future performance and you may not get back the amount invested.

Access denied | Brown Advisory Brown Advisory is an independent investment management and strategic advisory firm committed to delivering a combination of first-class performance, strategic advice and the highest level of client service with offices in Austin, Baltimore, Boston, Delaware, Frankfurt, London, Nashville, New York, N...

In our continued celebration of Asian American Pacific Islander Heritage Month, our Asian and Pacific Islander Colleague Resource Group hosted Chef Peter Chang for a colleague “Lunch & Learn” to share his story. Peter is a James Beard-nominated chef and restaurateur with well-regarded restaurants across Washington, D.C., Maryland, and Virginia. He was joined by Karina Hou, an investor in his restaurant group and a prominent AAPI entrepreneur.

Special thanks to colleagues Nayeon Kim, Olivia Chan, Amy Seto, Michael Lau, Nam Le Weyman Gong and Carlos Rodriguez for bringing this event to life!

In observance of Memorial Day in the United States, we were proud to partner again with wear blue: run to remember by participating in the Circle of Remembrance at the Ellipsis in Washington, D.C. The event honors those who gave their lives in service to their country. One hundred and sixty-two of our Brown Advisory colleagues participated in the Gold Star Race Program today—collectively raising approximately $14,000 to support wearblue’s mission of remembering fallen heroes. Each colleague was assigned a fallen hero to memorialize with each step.

Click here to learn more about wear blue: run to remember and how you can actively remember fallen service members this : www.wearblueruntoremember.org

Colleagues pictured: Emy Montiel, Xavier Martinez, Zachary Smith, Sam Sands, Peter Dixon, James Ferguson, and Derrick Leak

In celebration of Asian American Pacific Islander Heritage Month, our Asian and Pacific Islander Colleague Resource Group once again hosted a concert for colleagues by the Heifetz International Music Institute. This year the music focused on the theme of “heritage,” and explored the roots and branches of cultural traditions from around the globe.

We are so grateful for our relationship with Benjamin K. Roe and the Heifetz International Institute. It is a privilege to experience their passion. Thank you to Aadam Ibrahim, Dominic Lee, Daniel Rafimayeri, Julia Angelov and Allison Freeman for sharing your talents with us!

During Mental Health Awareness Month, we are especially proud that the Metro Baltimore chapter of NAMI (The National Alliance on Mental Illness) chose to honor Brown Advisory at LOUDER, its recent fund- and friend-raising event.

NAMI recognized the firm for our commitment to advancing mental health initiatives and providing support to colleagues. Mike Hankin accepted the award on behalf of the firm, with Joey Martin, board member of Metro Baltimore NAMI, and Brown Advisory colleagues joining the celebration.

In the latest Equity Beat blog, Eric Gordon takes to the road. Despite his anxieties around post Covid travel, he strongly believes in the value of company visits. In this blog post he highlights a recent visit to a company owned by two of our strategies and how this helped gain a deeper understanding of the business that is difficult to replicate.

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Equity Beat: On The Road Again | Brown Advisory As winter gave way to spring, my family binge-watched The Reluctant Traveler with Eugene Levy – a 2023 Apple TV+ series that brought the neurotic protagonist to exotic locations around the world. The comedic legend’s fear of the unknown was put to the test throughout the series, although by the ...

We are often asked how our portfolio managers take macroeconomic factors into account when managing portfolios. As bottom-up stock pickers, we focus on investing in high-quality businesses and use a variety of methods to analyze the impact of macro factors on each holding. In his latest Equity Beat, Eric Gordon explores what this means in practice.

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Equity Beat: In Consideration of the Macro | Brown Advisory At Brown Advisory, we often describe ourselves as “bottom-up” investors. That means we tend to focus more on stock selection conviction—in other words, understanding companies “from the bottom up”—and less on “top-down” concepts like sector allocation or broader macroeconomics. But w...

We are very pleased to announce that we have opened a new office in Japan and are welcoming Toshiyuki Murasawa to Brown Advisory as Head of our Japan Office. Toshiyuki will capitalize on his local knowledge to enhance the service Brown Advisory provides to our clients and help to further grow our business in Asia.

Read more: https://www.brownadvisory.com/us/brown-advisory-opens-tokyo-office-following-decade-growth-and-inflows-apac-region?utm_source=social&utm_medium=linkedin&utm_campaign=tokyo

We invite you to join us in celebrating Eid al Fitr. Recently a core group of our Muslim colleagues have been sharing the pillars of the holiday— self-discipline, compassion for others, charity, and purification of the mind, body, and soul—in a series of posts throughout the month of Ramadan. We are grateful for our colleagues and wish “Eid Mubarak” to those celebrating!

At Brown Advisory we value diversity, equity and inclusion and strive to be a place where all colleagues can thrive and be successful. For more information on our diversity, equity and inclusion efforts, please visit us at: https://lnkd.in/gfgpnyt

Our Baltimore team recently had the opportunity to volunteer at the Junior Achievement of Central Maryland’s JA Finance Park program. The program provides an opportunity for students to begin to imagine what their futures hold by offering insight, perspective, and leadership from professionals in the finance sector. Brown Advisory colleagues and friends of the firm, Derrick Leak, Connor Eagleson, Stephanie Martinez, Paul Corbin, Marty Quinn, Annie Hutchinson, Josh Meliker, Benisse Mua, Daniela Lampru, Joey Cahalan and Garret Paglia volunteered their time.

Junior Achievement of Central Maryland is a nonprofit that inspires and prepares young people for success.

We are very pleased to share our 2022 impact report for our Large-Cap Sustainable Growth strategy, managed by Karina Funk and David Powell. This report provides our clients with transparency around how we translate both qualitative and quantitative ESG data into investment insights.

Read here: https://www.brownadvisory.com/us/insights/2022-impact-report-large-cap-sustainable-growth-strategy?utm_source=Facebook&utm_medium=Organic+Social&utm_campaign=LCSG_2022