BAFTX — Brown Advisory Total Return Fund

BAFTX Fund Overview

BAFTX — Brown Advisory Total Return Fund is a US mutual fund managed by Brown Advisory Funds, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Brown Advisory Funds
• Category: Money Market
• Assets under management: $399.48M
• 1-year return: -6.2%
• Ticker: BAFTX
• SEC CIK: 0001548609
• SEC series ID: S000047213
• Share class ID: C000147943

BAFTX Investment Objective and Strategy

Brown Advisory Total Return Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Brown Advisory Funds.

Investment objective

The Brown Advisory Total Return Fund (the Fund) seeks to provide a competitive total return consistent with preservation of principal.

Principal investment strategy

Under normal conditions, Brown Advisory LLC (the Adviser) seeks to achieve the Funds investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in fixed income securities such as U.S Government securities, corporate fixed income securities (including junk bonds), mortgage-backed and asset-backed securities. The fixed income securities in which the Fund may invest may also include municipal securities issued by states, U.S. territories, and possessions, general obligation securities and revenue securities. The foregoing may include municipal lease obligations and insured municipal securities. The Fund may also invest in other investment companies that invest in similar fixed income securities and the Fund may count such holdings towards the Funds 80% investment policy.

The Fund may also engage in To Be Announced transactions. The Fund invests in fixed income securities that primarily have a maturity that is between 0 and 30 years and are rated in the top four rating categories of a Nationally Recognized Statistical Rating Organization, or unrated and deemed to be of comparable quality by the Adviser. Under normal circumstances, the Funds portfolio will have an average dollar weighted maturity between 6 and 11 years and an average duration of 3 to 7 years. Duration is a measurement of price sensitivity to interest rate changes. The Fund may invest up to 20% of its assets in high-yield securities, which are speculative in nature. The Fund may also utilize derivatives including futures, interest rate swaps and credit default swaps. These positions will be used to manage interest rate risk or to create synthetic exposure to particular credits.

Investments in derivatives may be counted towards the Funds 80% investment policy if they have economic characteristics similar to the other investments that are included in the Funds 80% investment policy. The Fund intends to use the mark-to-market value of such derivatives for purposes of complying with the Funds 80% investment policy. The Fund may invest in securities denominated in non-U.S. currencies. The Fund may also invest in bank loans. The Adviser may sell an investment or reduce its position if: Revised economic forecasts or interest rate outlook requires a repositioning of the portfolio; The investment subsequently fails to meet the investment criteria; Changing credit profile and/or conditions result in an unacceptable risk condition; A more attractive investment is found; or The Adviser believes that the investment has reached its appreciation potential.

In order to respond to adverse market, economic, political, or other conditions, the Fund may assume a temporary defensive position that is inconsistent with its investment objective and principal investment strategy and invest without limit in cash and prime quality cash equivalents such as prime commercial paper and other money market instruments. A defensive position, taken at the wrong time, may have an adverse impact on the Funds performance. The Fund may be unable to achieve its investment objective during the employment of a temporary defensive measure.

BAFTX Performance

Total returns for BAFTX (as of 2026-10-01), from SEC filings.

BAFTX Risk Information

Risk metrics for BAFTX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 8.7%

BAFTX Costs and Fees

BAFTX costs about $42 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.42%
• Gross expense ratio: 0.42%
• Portfolio turnover: 131%
• Brokerage commissions: 1.09 bps of average net assets (SEC N-CEN)

BAFTX Cashflows

Over the 12 months to 2023-03, Brown Advisory Total Return Fund had net inflows of $247.54M, from monthly SEC N-PORT filings.

BAFTX Debt Constituents

No individual debt constituents are reported in Brown Advisory Total Return Fund's latest SEC N-PORT filing.

BAFTX Prospectus and SEC Filings

Official Brown Advisory Total Return Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2022-10-28
• Prospectus (485BPOS) — filed 2021-10-29
• Prospectus (485BPOS) — filed 2020-10-30
• Portfolio holdings (N-PORT) — filed 2023-05-26
• Portfolio holdings (N-PORT) — filed 2023-02-27
• Portfolio holdings (N-PORT) — filed 2022-11-28
• Annual census (N-CEN) — filed 2022-09-09
• Annual census (N-CEN) — filed 2021-09-08

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.