Brown Advisory

OCTOBER 11, 2021

Private Equity and Venture Capital benchmark from December 31, 2000 through December 31, 2017, which represents the most relevant recent data available. Investors should pay particular attention to the risk factors described in the Memorandum pertaining to an investment opportunity. An index constituent must also be considered a U.S.

Assets 52

Assets Portfolio Risk Tolerance Asset Allocation 52

Brown Advisory

OCTOBER 11, 2021

Private Equity and Venture Capital benchmark from December 31, 2000 through December 31, 2017, which represents the most relevant recent data available. Risk-for-risk” analysis to funding capital. The chart to the right shows the upper quartile, median and lower quartile returns according to the Cambridge Associates U.S.

Assets 52

Assets Portfolio Risk Tolerance Asset Allocation 52

Brown Advisory

AUGUST 14, 2023

Our investment selection process follows a bottom-up, fundamental approach so we are wary of “sleepwalking into factor risk”. Before making any new investment, we analyse that potential new idea’s contribution to total portfolio risk with the aim of lifting stock-specific risk.

Investing 52

Investing Investments Portfolio Accounting 52