Brown Advisory US equity growth fund reaches £500m AUM milestone
Brown Advisory’s US Equity Growth Fund has reached its three-year Ucits track record, and surpassed £500m in assets, the manager said in a statement.
Brown Advisory, which manages £20bn in institutional and private client assets, launched the Ucits fund on November 2, 2009. The fund is the fourth to be launched under its Dublin-domiciled Ucits umbrella.
The fund is a mirror of Brown Advisory’s US Large-Cap Growth Strategy, launched in 1996. The manager of the US equity strategy fund since inception has been Ken Stuzin, and assets have grown to more than £6bn globally.
Logie Fitzwilliams, head of Brown Advisory’s international business (pictured), said: “Ken has built an incredibly impressive track record over the past 15 years and we are excited that over the last three years, the Ucits fund has attracted a broad range of sophisticated investors, including private banks, charities and insurance companies.”
In the three years since launch, the fund has returned 52.8% vs. 48.0% for the Russell 1000 Growth and 44.3% for the S&P 500. The fund ranks 8th out of 234 funds in the North America IMA sector (35.1%) over this period.
David Coombs, head of Multi-Asset Investments at Rathbones, who was an early backer of the fund, said: “We have been investors in the fund since 2009, as we believe the research process, drawing on both the extensive knowledge of the analysts and also a wider network of industry contacts, leads to higher quality investment decisions.
“Furthermore, Ken’s prudent sell discipline has led to less volatile returns than many of his peers. Finally, as investors, we appreciate the ongoing dialogue and access Brown Advisory and Ken gives us.”
The strategy employs a bottom-up, research-intensive process. The portfolio has 33 holdings of industry-leading companies with a history of strong, sustainable revenue, cash flow and earnings growth.