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  • Ted July 2018
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Brown Advisory – Macquarie Asia New Stars Fund to liquidate

https://www.sec.gov/Archives/edgar/data/1548609/000089418918003759/baf-macquarie_497e.htm
497 1 baf-macquarie_497e.htm SUPPLEMENTARY MATERIALS

BROWN ADVISORY FUNDS

Brown Advisory – Macquarie Asia New Stars Fund

(the “Fund”)

Supplement dated July 17, 2018

to the Prospectus, the Summary Prospectus and the Statement of Additional Information

dated October 31, 2017, as amended on June 15, 2018

The Board of Trustees (the “Board”) of Brown Advisory Funds (the “Trust”), based upon the recommendation of Brown Advisory LLC (the “Adviser”), the investment adviser to the Fund, has determined to close and liquidate the Fund. The Board concluded that it would be in the best interests of the Fund and its shareholders that the Fund be closed and liquidated as a series of the Trust effective as of the close of business on August 30, 2018. Accordingly, the Board approved a Plan of Liquidation (the “Plan”) that determines the manner in which the Fund will be liquidated.

The Board has determined to waive any applicable redemption fees and exchange fees for shares redeemed on or after July 16, 2018.

Effective July 16, 2018, in anticipation of the liquidation, the Fund is no longer accepting purchases into the Fund. In addition, the Adviser will begin an orderly transition of the portfolio to cash and cash equivalents and the Fund will no longer be pursuing its investment objective. Shareholders of the Fund may redeem their investments as described in the Fund’s Prospectus.

If you hold your shares in an IRA account, you have 60 days from the date you receive your proceeds to reinvest or “rollover” your proceeds into another IRA and maintain their tax-deferred status. You must notify the Fund’s transfer agent by telephone at 800-540-6807 (toll free) or 414-203-9064 prior to August 30, 2018, of your intent to rollover your IRA account to avoid withholding deductions from your proceeds.

Pursuant to the Plan, if the Fund has not received your redemption request or other instruction prior to August 30, 2018, your shares will be redeemed on August 30, 2018, and you will receive your proceeds from the Fund, subject to any required withholding. These proceeds will generally be subject to federal and possibly state and local income taxes if the redeemed shares are held in a taxable account, and the proceeds exceed your adjusted basis in the shares redeemed.

If the redeemed shares are held in a qualified retirement account such as an IRA, the redemption proceeds may not be subject to current income taxation. You should consult with your tax advisor on the consequences of this redemption to you.

Shareholder inquiries should be directed to the Fund at 800-540-6807 (toll free) or 414-203-9064.

Please retain this supplement for your reference.

Comments

  • @MFO Members: Three cheers ! Someone else has posted something about Mutual Funds ! Thanks, Shadow
    Regards,
    Ted:)
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