BITEX – Brown Advisory Tax-Exempt Sust Bd Inv Investment Strategy | Morningstar

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Strategy

The investment seeks to provide a high level of current income exempt from Federal income tax by investing primarily in intermediate-term investment grade municipal bonds while giving special consideration to certain sustainable investment criteria. Under normal circumstances, the fund will invest at least 80% of the value of its net assets in fixed income securities the interest of which is exempt from Federal income taxes, that do not subject shareholders to the federal alternative minimum tax, and that have either a bond issuer or a use of proceeds of the bond issuance that satisfies the fund’s ESG criteria.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
BITEX	Brown Advisory Tax-Exempt Sustainable Bond Fund Investor Shares	No Load	Open			Dec 2, 2019	$360.51M	0.480%	Average	$100	$9.62M

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