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Brown Advisory announces US equity smaller companies launch

Brown Advisory has announced the launch of a US equity smaller companies fund under the management of Tim Hathaway and Chris Berrier.

The fund will be run through a Dublin-based Ucits III structure and will mirror the US investment firms $430m domestic offering.

The team has been given $29m of seeding money and will look to run a portfolio of 40 to 60 names by tapping into inefficiencies in the market.

The group, which opened its London office last month, believe its proprietary research coverage and network of venture capital and private equity relationships will give it a competitive advantage in the market.

Hathaway says: “The fund represents a natural evolution of Brown Advisory’s original small-cap equity strategy that was launched in 1994. The hallmarks of the portfolio have always been fundamental bottom-up stock selection, concentration of positions, and a long-term time horizon. While these attributes remain in place, the historical emphasis on the technology sector has been replaced with a more diversified stock picking strategy that leverages the expertise of the portfolio managers and 16-strong research team.”

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