The Brown Advisory Mortgage Securities Fund Investor Shares is an open-end mutual fund specializing in mortgage-backed securities within the fixed income sector. Its primary function is to deliver income potential by investing predominantly in investment-grade, mortgage-related securities, constituting at least 80% of its net assets. The fund utilizes individual security analysis and prepayment analysis to identify holdings with slower payback speeds, aiming to maintain a steady yield stream and manage interest rate risk. The remaining allocation can include non-investment-grade or unrated securities, and the fund may also use derivatives for risk management purposes. The portfolio tends to be concentrated, featuring high-conviction positions and a typical expected life of 2 to 8 years for most securities. It benchmarks its performance against the Bloomberg Mortgage Backed Securities Index and targets investors seeking exposure to mortgage bonds within the intermediate government bond category. Managed by an experienced team, the fund emphasizes long-term, risk-adjusted returns and disciplined active management in the mortgage securities space, making it a notable participant in the broader fixed income market.
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