Performance & Composition

PERFORMANCE

 

Total Returns          Average Annual Total Returns
 
(a/o 1/31/16) 1 Mo.* 3 Mo.* YTD* 1 Yr. 3 Yr. 5 Yr. 10 Yr. Since Inception3
BBH Limited Duration Fund
(Class N) 2
-0.27%  -0.44% -0.27% -0.02% 0.49% 1.08% 2.64% 4.00%
(BBH Limited Duration Fund (Class I) 1  -0.31%  -0.44% -0.31% 0.12% 0.66% 1.27% 2.81% 4.17%
Barclays Capital U.S. 1-3 Treasury Bond Index4 0.61% 0.27% 0.61% 0.64% 0.72% 0.80% 2.48% 3.08%

 

Total Returns          Average Annual Total Returns
 
(a/o 12/31/15) 1 Mo.* 3 Mo.* YTD* 1 Yr. 3 Yr. 5 Yr. 10 Yr. Since Inception3
BBH Limited Duration Fund
(Class N) 2
-0.23%  0.03% 0.09% 0.09% 0.64% 1.18% 2.68% 4.04%
(BBH Limited Duration Fund (Class I) 1  -0.21%  0.18% 0.39% 0.39% 0.84% 1.36% 2.85% 4.21%
Barclays Capital U.S. 1-3 Treasury Bond Index4 -0.09% -0.43% 0.56% 0.56% 0.52% 0.71% 2.44% 3.06%

 

*Returns are not annualized.

Class N Total Expense Ratio:  0.48%             Class I Total Expense Ratio:  0.29%

 


Top 10 Holdings

Maturity††

Coupon (%)
 

as of 1/31/16 
(%)

United States Treasury Bill 03/17/2016 0.000% 1.7%
Federal Home Loan Bank Discount Note 02/17/2016 0.000% 1.6%
Fannie Mae Discount Note 05/02/2016 0.000% 1.4%
United States Treasury Bill 04/28/2016 0.000% 1.3%
United States Treasury Bill 05/05/2016 0.000% 1.2%
United States Treasury Bill 03/10/2016 0.000% 1.2%
Fannie Mae Discount Note 03/01/2016 0.000% 1.2%
Avago Technologies Term B 02/01/2023 4.250% 1.1%
Engs Commercial Finance Trust 10/22/2021 2.310% 1.1%
NCF Dealer Floorplan Master 10/20/2020 1.926% 1.1%

 


 

Credit Quality

as of 1/31/16 
(%)

Treasury: 11.4%
Agency:   7.2%
AAA: 16.8%
AA: 12.0%
A: 29.1%
BBB: 19.2%
BB:   3.5%
B or Lower:   0.4%
Not Rated   0.4%
Total: 100.0%

 





Effective October 5, 2012, BBH Broad Market Fund has been renamed to BBH Limited Duration Fund.

1The Class I shares commenced operations on December 3, 2002. Prior to December 3, 2002, performance reflects performance of the Class N shares adjusted to assume that all charges, expenses and fees were deducted. Performance prior to December 22, 2000 is that of the BBH Broad Market Fixed Income Portfolio adjusted to assume that all charges, expenses and fees of the Fund and the Portfolio which are presently in effect were deducted during such periods, as permitted by applicable SEC staff interpretations.

 2BBH Broad Market Fund Class N shares commenced operations on December 22, 2000. Performance prior to December 22, 2000 is that of the BBH Broad Market Fixed Income Portfolio adjusted to assume that all charges, expenses and fees of the Fund and the Portfolio which are presently in effect were deducted during such periods, as permitted by applicable SEC staff interpretations.  

 3"Inception date" is the inception date of the BBH Broad Market Fixed Income Portfolio.

4The Barclays Capital U.S. Treasury: 1-3 Year Index is an unmanaged index of fixed rate obligations of the U.S. Treasury with maturities ranging from 1 to 3 years. Investments cannot be made in an index.

All performance is net of fees.  Performance data quoted represents past performance which is no guarantee of future results. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Fund performance changes over time and current performance may be lower or higher than what is stated. For performance current to the most recent month-end please call 1-800-625-5759. Returns of less than 1 year are not annualized.

† Credit quality and portfolio holdings are reviewed on an ongoing basis and are subject to change.

‡ Credit Quality letter ratings are provided by Standard and Poor’s and Moody’s and are presented as the higher of the two ratings. When a security is not rated by Standard & Poor's or Moody's, the highest credit ratings from Fitch, DBRS, and Kroll may be used. Credit ratings reflect the credit quality of the underlying issues in the fund portfolio and not of the fund itself. Issues with credit ratings of BBB or better are considered to be investment grade, with adequate capacity to meet financial commitments. Issues with credit ratings below BBB are considered speculative in nature and are vulnerable to the possibility of issuer failure or business interruption. It is possible that BBH investors may receive other communications that show credit quality using different groupings and may only use credit ratings from Standard and Poor's and Moody's.
 

For additional information please go to the Understanding Ratings section at www.standardpoors.com and the Ratings Methodology section at www.moodys.com.