BIABX — Brown Advisory Strategic Bond Fund
Data updated: 2020-11-30
BIABX — Brown Advisory Strategic Bond Fund. Money Market · $143.82M AUM · 0.61% expense ratio · 1.8% 1-yr return. Holdings, fees, performance and SEC filings.
BIABX Fund Overview
BIABX — Brown Advisory Strategic Bond 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: $143.82M
- 1-year return: 1.8%
- Ticker: BIABX
- SEC CIK: 0001548609
- SEC series ID: S000038488
- Share class ID: C000118739
BIABX Investment Objective and Strategy
Brown Advisory Strategic Bond 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 Strategic Bond Fund (the Fund) seeks to achieve capital appreciation and income with a low correlation to interest rate movements.
Principal investment strategy
Under normal conditions, the Fund will invest at least 80% of the value of its net assets (plus any borrowings for investment purposes) in fixed income securities. Brown Advisory LLC (the Adviser) seeks to achieve the Funds investment objective by investing in municipal bonds, corporate bonds (including junk bonds), U.S. Treasury bonds, Treasury Inflation Protected Securities (TIPS), non-U.S. dollar bonds, mortgage-backed securities, asset-backed securities, derivatives (including credit default swaps, other swaps, futures and options), bank loans, collateralized loan obligations, and cash equivalents. The fund will hold such investments only as long as the Adviser believes the relative value is attractive, which at times may be a matter of days or weeks, as opposed to holding investments for years at a time.
The Fund may also engage in To Be Announced transactions. The Advisers strategy may result in the Fund holding relatively concentrated positions in certain investments and will result in a relatively high degree of portfolio turnover. The Fund is non-diversified which means that it may invest a significant portion of its assets in the securities of a single issuer or small number of issuers. The Fund may invest in securities of any maturity and/or credit quality rating. The Fund has no limit in its investment in high-yield securities, which are speculative in nature. The Fund may utilize derivatives, mutual funds, or exchange-traded funds which invest in any of the previously mentioned types of fixed income securities. 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 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 appreciated 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.
BIABX Performance
Total returns for BIABX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 1.8% |
BIABX Risk Information
Risk metrics for BIABX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 12.4%
BIABX Costs and Fees
BIABX costs about $61 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.61%
- Gross expense ratio: 0.61%
- Portfolio turnover: 115%
- Brokerage commissions: 0.11 bps of average net assets (SEC N-CEN)
BIABX Cashflows
Over the 12 months to 2020-09, Brown Advisory Strategic Bond Fund had net inflows of $174.51M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-09 | $1.23M |
| 2020-08 | $8.26M |
| 2020-07 | $9.62M |
| 2020-06 | $13.43M |
| 2020-05 | $13.09M |
| 2020-04 | $18.60M |
BIABX Debt Constituents
No individual debt constituents are reported in Brown Advisory Strategic Bond Fund's latest SEC N-PORT filing.
BIABX Prospectus and SEC Filings
Official Brown Advisory Strategic Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2019-11-20
- Prospectus (485BPOS) — filed 2018-11-16
- Prospectus (485BPOS) — filed 2017-11-17
- Portfolio holdings (N-PORT) — filed 2020-11-30
- Portfolio holdings (N-PORT) — filed 2020-08-21
- Portfolio holdings (N-PORT) — filed 2020-06-01
- Annual census (N-CEN) — filed 2020-09-11
- Annual census (N-CEN) — filed 2019-09-04
Related Funds
Other Money Market funds tracked on ABC INVEST:
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.