BBH Partner Fund - International Equity
Name
As of 11/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
11.7%
1 yr return
24.6%
3 Yr Avg Return
-2.6%
5 Yr Avg Return
4.9%
Net Assets
$2.16 B
Holdings in Top 10
33.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.64%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 86.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$10,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
BBHLX - Profile
Distributions
- YTD Total Return 11.7%
- 3 Yr Annualized Total Return -2.6%
- 5 Yr Annualized Total Return 4.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.65%
- Dividend Yield 0.8%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameBBH Partner Fund - International Equity
-
Fund Family NameBBH TRUST
-
Inception DateJun 28, 2002
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerLoren Lewallen
Fund Description
Under normal circumstances, at least 80% of the net assets of the Fund, plus any borrowings for investment purposes, are invested in equity securities of companies in multiple developed and emerging markets of the world, excluding the United States. The Investment Adviser defines
developed markets as those markets included in the Morgan Stanley Capital International—Europe, Australasia, and Far East Index (“MSCI-EAFE”) and Canada. The Fund may invest up to 35% of its assets, at the time of purchase, in emerging markets of the world. The Investment Adviser defines an emerging market as a securities market located in any country that is defined as having an emerging or developing economy by the World Bank or its related organizations, or the United Nations or its authorities. The Fund may purchase these equity securities directly or in the form of sponsored and unsponsored American Depository Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) representing securities of companies based outside of the United States, national security exchanges or over-the-counter markets. The Fund will primarily invest in equity securities of companies with large market capitalizations.
Brown Brothers Harriman & Co. (“BBH&Co.”), through a separately identifiable department (“Investment Adviser”), employs a “manager of managers” investment approach, whereby it allocates the Fund’s assets to the Fund’s sub-advisers, Select Equity Group, L.P. (“Select Equity Group”) and Trinity Street Asset Management, LLP (“Trinity Street”) (collectively, the “Sub-advisers”). Subject to the general supervision by the Fund’s Board of Trustees (the “Board”), the Investment Adviser oversees the Sub-advisers and evaluates their respective performance results. The Investment Adviser reviews portfolio performance, characteristics and changes in key personnel of the Sub-advisers. The Sub-advisers are primarily responsible for the day-to-day management of the Fund’s portfolio, including purchases and sales of individual securities. However, the Investment Adviser may, when deemed appropriate, manage all or a portion of the Fund’s assets according to the Fund’s principal investment strategies.
The Fund buys and sells securities denominated in currencies other than the U.S. dollar. Interest, dividends and sale proceeds on such securities are received in currencies other than the U.S. dollar. The Fund enters into foreign currency exchange transactions from time to time to convert to and from different foreign currencies and to convert foreign currencies to and from the U.S. dollar.
Select Equity Group’s Investment Process: Select Equity Group will focus on identifying attractive non-U.S. publicly traded businesses with large market capitalizations and will invest opportunistically in these businesses when it believes that good long-term returns can be achieved. Select Equity Group defines attractive businesses as those that have achieved leading and defensible market positions through the creation of enduring franchise value. As part of the Fund’s investment process, Select Equity Group may consider environmental, social and governance (“ESG”) factors for the majority of equity investments in the portfolio. ESG factors include, but are not limited to the environmental and social impact of the issuer, as well as the issuers instituted governance programs. They are, in the view of Select Equity Group, both well positioned for long term growth and resilient in difficult economic environments. Select Equity Group employs intensive and rigorous fundamental equity research in order to identify these investment opportunities.
Trinity Street’s Investment Process: Trinity Street believes in an unconstrained, approach to investing that is not linked to components of any benchmark against which the performance of the portfolio is measured, and Trinity Street intends to invest in a focused portfolio of non-U.S. common stocks of publicly traded companies, with the potential to invest in preferred stocks on a limited basis. Trinity Street intends to select securities based on identifying important positive factors that affect a company’s earnings and cash flow prospects, which it believes to be under-recognized by the market. These factors will be identified through fundamental research and valuation methodologies.
Trinity Street’s portfolio of investment positions will mainly consist of large-capitalization companies at the time of the initial purchase. Emerging markets are expected, from time to time, to be represented in the portion of the Fund managed by Trinity Street. Trinity Street has incorporated and integrated ESG considerations into its investment process. However, ESG does not drive the investment process at Trinity Street, and is only one factor that is considered when investing, holding, and divesting.
The Sub-advisers may sell securities for a variety of reasons, such as to secure gains, limit losses or redeploy assets into more promising opportunities. The Fund may, from time to time, invest in a limited number of issuers.
BBHLX - Performance
Return Ranking - Trailing
Period | BBHLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 11.7% | -3.7% | 34.6% | 29.32% |
1 Yr | 24.6% | 6.2% | 44.6% | 21.99% |
3 Yr | -2.6%* | -11.5% | 6.9% | 50.66% |
5 Yr | 4.9%* | -1.4% | 13.4% | 71.56% |
10 Yr | 5.6%* | 2.0% | 9.8% | 54.13% |
* Annualized
Return Ranking - Calendar
Period | BBHLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.3% | -0.4% | 28.6% | 56.81% |
2022 | -24.6% | -49.5% | -15.2% | 35.09% |
2021 | -10.3% | -22.2% | 19.3% | 92.35% |
2020 | 20.6% | -3.7% | 85.0% | 47.71% |
2019 | 27.9% | -4.0% | 45.1% | 33.86% |
Total Return Ranking - Trailing
Period | BBHLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 11.7% | -3.7% | 34.6% | 29.32% |
1 Yr | 24.6% | 6.2% | 44.6% | 21.99% |
3 Yr | -2.6%* | -11.5% | 6.9% | 50.66% |
5 Yr | 4.9%* | -1.4% | 13.4% | 71.56% |
10 Yr | 5.6%* | 2.0% | 9.8% | 54.13% |
* Annualized
Total Return Ranking - Calendar
Period | BBHLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.3% | 1.8% | 28.6% | 71.73% |
2022 | -24.2% | -44.4% | -11.0% | 46.70% |
2021 | 1.7% | -20.6% | 20.5% | 84.70% |
2020 | 24.0% | 7.6% | 97.1% | 41.71% |
2019 | 30.0% | 0.5% | 45.3% | 35.44% |
NAV & Total Return History
BBHLX - Holdings
Concentration Analysis
BBHLX | Category Low | Category High | BBHLX % Rank | |
---|---|---|---|---|
Net Assets | 2.16 B | 191 K | 140 B | 42.67% |
Number of Holdings | 67 | 4 | 1806 | 52.09% |
Net Assets in Top 10 | 717 M | 70.5 K | 36.7 B | 39.01% |
Weighting of Top 10 | 33.02% | 10.1% | 99.9% | 44.50% |
Top 10 Holdings
- CRH PLC 0.00000000 4.13%
- LONDON STOCK EXCHANGE GROUP /GBP/ 0.00000000 3.91%
- MSILF TREASURY SECURITIES PORTFOLIO CL INSTITUTIONAL 0.00000000 3.70%
- BROOKFIELD CORP /CAD/ 0.00000000 3.58%
- SAFRAN SA /EUR/ 0.00000000 3.21%
- OBIC CO LTD /JPY/ 0.00000000 3.06%
- BAE SYSTEMS PLC /GBP/ 0.00000000 3.01%
- TAIWAN SEMICONDUCTOR SPONSORED ADR /1 ADR REPS 5 ORD SHS/ 0.00000000 3.00%
- SAP SE /EUR/ 0.00000000 2.84%
- ADIDAS AG /EUR/ 0.00000000 2.58%
Asset Allocation
Weighting | Return Low | Return High | BBHLX % Rank | |
---|---|---|---|---|
Stocks | 95.39% | 89.22% | 105.20% | 88.22% |
Cash | 3.71% | 0.00% | 11.43% | 19.37% |
Preferred Stocks | 0.90% | 0.00% | 10.21% | 15.18% |
Other | 0.00% | -0.31% | 3.89% | 50.79% |
Convertible Bonds | 0.00% | 0.00% | 2.45% | 39.90% |
Bonds | 0.00% | 0.00% | 0.03% | 39.79% |
Stock Sector Breakdown
Weighting | Return Low | Return High | BBHLX % Rank | |
---|---|---|---|---|
Technology | 29.94% | 1.51% | 38.21% | 2.62% |
Industrials | 16.24% | 0.68% | 31.28% | 44.88% |
Financial Services | 15.66% | 0.00% | 38.62% | 43.83% |
Consumer Cyclical | 13.73% | 0.00% | 46.28% | 26.77% |
Healthcare | 11.89% | 1.36% | 29.58% | 71.92% |
Basic Materials | 5.95% | 0.00% | 23.15% | 66.14% |
Consumer Defense | 3.91% | 0.00% | 25.77% | 91.08% |
Communication Services | 2.68% | 0.00% | 41.13% | 67.98% |
Utilities | 0.00% | 0.00% | 9.05% | 67.19% |
Real Estate | 0.00% | 0.00% | 6.64% | 69.82% |
Energy | 0.00% | 0.00% | 24.97% | 81.36% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | BBHLX % Rank | |
---|---|---|---|---|
Non US | 76.25% | 0.00% | 99.95% | 72.25% |
US | 19.13% | 0.00% | 99.87% | 29.06% |
BBHLX - Expenses
Operational Fees
BBHLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.64% | 0.01% | 13.07% | 84.47% |
Management Fee | 0.60% | 0.00% | 1.50% | 30.10% |
12b-1 Fee | N/A | 0.00% | 1.00% | 6.31% |
Administrative Fee | N/A | 0.03% | 0.80% | N/A |
Sales Fees
BBHLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
BBHLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 0.25% | 2.00% | 57.14% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
BBHLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 86.00% | 7.00% | 149.00% | 92.24% |
BBHLX - Distributions
Dividend Yield Analysis
BBHLX | Category Low | Category High | BBHLX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.79% | 0.00% | 12.70% | 48.56% |
Dividend Distribution Analysis
BBHLX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
BBHLX | Category Low | Category High | BBHLX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.65% | -1.69% | 3.16% | 29.89% |
Capital Gain Distribution Analysis
BBHLX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 14, 2023 | $0.137 | OrdinaryDividend |
Dec 15, 2022 | $0.067 | OrdinaryDividend |
Dec 15, 2021 | $0.126 | OrdinaryDividend |
Dec 15, 2021 | $0.753 | CapitalGainShortTerm |
Dec 15, 2021 | $1.470 | CapitalGainLongTerm |
Dec 15, 2020 | $0.039 | OrdinaryDividend |
Dec 15, 2020 | $0.290 | CapitalGainShortTerm |
Dec 15, 2020 | $0.235 | CapitalGainLongTerm |
Dec 16, 2019 | $0.088 | OrdinaryDividend |
Dec 16, 2019 | $0.184 | CapitalGainLongTerm |
Dec 14, 2018 | $0.353 | CapitalGainShortTerm |
Dec 14, 2018 | $0.525 | CapitalGainLongTerm |
Dec 14, 2018 | $0.166 | OrdinaryDividend |
Dec 28, 2017 | $0.034 | OrdinaryDividend |
Dec 15, 2017 | $0.096 | CapitalGainShortTerm |
Dec 15, 2017 | $1.000 | CapitalGainLongTerm |
Dec 15, 2017 | $0.070 | OrdinaryDividend |
Feb 14, 2017 | $0.044 | ExtraDividend |
Dec 15, 2016 | $0.278 | OrdinaryDividend |
Dec 15, 2015 | $0.282 | OrdinaryDividend |
Dec 15, 2014 | $0.388 | OrdinaryDividend |
Dec 13, 2013 | $0.292 | OrdinaryDividend |
Dec 14, 2012 | $0.299 | OrdinaryDividend |
Dec 15, 2011 | $0.372 | OrdinaryDividend |
Dec 16, 2010 | $0.229 | OrdinaryDividend |
Dec 17, 2009 | $0.211 | OrdinaryDividend |
Dec 19, 2008 | $0.327 | CapitalGainLongTerm |
Dec 19, 2008 | $0.418 | OrdinaryDividend |
Dec 20, 2007 | $0.106 | CapitalGainShortTerm |
Dec 20, 2007 | $0.686 | CapitalGainLongTerm |
Dec 20, 2007 | $0.315 | OrdinaryDividend |
Dec 20, 2006 | $0.170 | CapitalGainLongTerm |
Dec 20, 2006 | $0.279 | OrdinaryDividend |
Dec 21, 2005 | $0.224 | OrdinaryDividend |
Dec 16, 2004 | $0.111 | OrdinaryDividend |
Dec 17, 2003 | $0.121 | OrdinaryDividend |
BBHLX - Fund Manager Analysis
Managers
Loren Lewallen
Start Date
Tenure
Tenure Rank
Feb 24, 2017
5.27
5.3%
Mr. Lewallen began at Select Equity as an intern in 2006 and joined the Firm full time in September 2007. Mr. Lewallen is a CFA® charterholder. Mr. Lewallen received a B.A. from Columbia University (magna cum laude).
Jonathan Allen
Start Date
Tenure
Tenure Rank
Feb 24, 2017
5.27
5.3%
Mr. Allen joined Select Equity in April 2010. Prior to joining Select Equity, Mr. Allen was a Principal, Portfolio Manager and Analyst with Clay Finlay for 16 years. Mr. Allen is a CFA® charterholder. Mr. Allen received a B.A. from the University of Pennsylvania.
Brian Vollmer
Start Date
Tenure
Tenure Rank
Feb 24, 2017
5.27
5.3%
Mr. Vollmer began at Select Equity as an intern in 2005 and joined the Firm full time in August 2006. Prior to joining Select Equity, Mr. Vollmer worked as a private equity Investment Analyst for Hicks, Muse, Tate & Furst. Prior to Hicks, Muse, Tate & Furst, he worked in the Investment Banking Division at Goldman Sachs. Mr. Vollmer received a B.S. from the University of Virginia (with distinction) and an M.B.A. from the Stanford Graduate School of Business, where he graduated as an Arjay Miller Scholar.
Matthew Pickering
Start Date
Tenure
Tenure Rank
Feb 24, 2017
5.27
5.3%
Matthew C. Pickering joined Select Equity Group, L.P in December 2010. Prior to joining Select Equity, Mr. Pickering was an Analyst with Harris Associates for four years. Prior to Harris Associates, he worked for six years as an Analyst and Associate Portfolio Manager with Institutional Capital. Mr. Pickering is a CFA® charterholder. Mr. Pickering received a B.S. from Miami University (magna cum laude).
Chad Clark
Start Date
Tenure
Tenure Rank
Feb 24, 2017
5.27
5.3%
Chad M. Clark joined Select Equity Group, L.P in August 2010. He oversees the Firm’s international strategies. Mr. Clark is a member of the Firm’s Management Committee. Prior to joining Select Equity, Mr. Clark spent 14 years at Harris Associates, where he was a Partner and co-managed the Oakmark International Small Cap Fund and Harris International Value L.P. Prior to Harris Associates, he was an Analyst in Corporate Finance at William Blair & Company. Mr. Clark is a CFA® charterholder. Mr. Clark received a B.S. from Carnegie Mellon University (summa cum laude).
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 26.94 | 7.77 | 20.01 |