The BBH International Equity Fund (the "Fund") aims to provide investors with long-term real rates of return by investing primarily in the equity securities of companies in the developed markets of the world, excluding the United States. From time to time, the Fund may invest up to 15% of its assets in companies domiciled in emerging markets.

The Fund employs a "manager of managers" approach whereby portions of the Fund are allocated to different investment subadvisers who employ investment styles broadly aligned with BBH's principles of equity investing. Through its registered advisory department, BBH monitors and oversees the subadvisers by reviewing their portfolio performance and characteristics as well as organizational activity and departures of key personnel.

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