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16 Jun 2021

Brown Advisory US Smaller Companies

Company Notes

Appointment of Brown Advisory now effective

Brown Advisory US Smaller Companies PLC*, previously called Jupiter US Smaller Companies PLC, was launched in 1993 and had been managed by Robert Siddles since the beginning of 2001. However, in October last year it was announced that Robert had decided to retire with effect from April 2021 and in December the Board announced that it intended to appoint Brown Advisory as investment manager, with the fund’s portfolio to reflect the firm’s US Small-Cap Growth strategy. The appointment became effective on 1 April 2021 and the fund’s name and ticker were changed with effect from early May.

The fund is now managed by Christopher Berrier, who is based in Baltimore and has more than 20 years’ experience. He is supported by George Sakellaris as associate portfolio manager as well as a team of equity research analysts. The fund’s objective is to achieve long-term capital growth by investing in a diversified portfolio primarily of quoted US smaller and medium-sized companies. The investment team has a long-term investment philosophy based on research-driven fundamentals.

Over the last ten years, the Brown Advisory US Smaller Companies UCITS fund, which is managed by the same team with the same strategy as the investment trust, has generated a total return of +364%. This represents a notable outperformance of the investment trust (+239%), which was managed by Robert Siddles for the vast majority of this period. It also represents an outperformance of JPMorgan US Smaller Companies (+355%), the Russell 2000 Index (+294%) and the Russell 2000 Growth Index (+329%).

*Denotes a corporate broking client of Winterflood Securities