Follow the instructions to establish your User ID and Password:
Enter your new User ID following the listed criteria.
Enter the last 4 digits of your Social Security Number.
Highlight a fund you have an account in.
Enter your account number that corresponds to the fund you highlighted.
Enter your new Password and verify it by entering it again.
Select the Continue button.
Mutual fund investing involves risk. Principal loss is possible.
Investments in debt securities typically decrease
in value when interest rates rise. This risk is usually greater for
longer-term debt securities. Investments in lower-rated and non-rated
securities present a greater risk of loss to principal and interest than
higher-rated securities. Investments in smaller and medium
capitalization companies generally carry greater risk than is
customarily associated with larger companies for various reasons such as
narrower markets, limited financial resources and less liquid stock.
The value of the Fund's investments in REITs and Real Estate may change
in response to changes in the real estate market such as declines in the
value of real estate, lack of available capital or financing
opportunities, and increases in property taxes or operating costs. The
Fund may invest in ETFs, which may trade at a discount to the aggregate
value of the underlying securities and although expense ratios for ETFs
are generally low, frequent trading of ETFs by the Fund can generate
brokerage expenses. Investments in foreign securities entail certain
risks not associated with investments in domestic securities, such as
volatility of currency exchange rates, and in some cases, political and
economic instability and relatively illiquid markets. Investing in
Master Limited Partnerships ("MLPs") entails risk related to
fluctuations in energy prices, decreases in supply of or demand for
energy commodities, unique tax consequences due to the partnership
structure and various other risks. Privately Placement issued securities
are restricted securities that are not publicly traded. Delay or
difficulty in selling such securities may result in a loss to the Fund.
The Brown Advisory funds are distributed by Quasar Distributors, LLC.