Performance & Composition

BBH Income Fund Class I current performance is reflected below. An investor should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The Fund's prospectus contains this information and other information about the Fund. You should read the prospectus carefully before investing. For more information, please contact us.

Performance

Total Returns Average Annual Total Returns
1 Mo.* 3 Mo.* Since Inception
BBH Income Fund (Class I) 0.58% -0.65% -0.16%
Bloomberg Barclays US Aggregate Index 0.60% -0.84% -0.24%

Class I Net/Gross Expense Ratio (%):  0.50 / 0.69
The fund is new with a limited operating history.

* Returns are not annualized.
“Inception date” is the inception date of the BBH Income Fund (06/27/2018).
All performance is net of fees.

The Investment Adviser has contractually agreed to limit the Total Annual Fund Operating Expenses to 0.50% through 6/30/2019. The agreement may only be terminated during its term with approval of the Fund's Board of Trustees (the “Board").

Past performance does not guarantee future results, and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate and shares, when sold, may be worth more or less than the original cost. For the most recent month-end performance, call 1 (800) 625-5769


The Bloomberg Barclays U.S. Aggregate Index  covers the USD-denominated, investment-grade (rated Baa3 or above by Moody's), fixed-rate, and taxable areas of the bond market. This is the broadest measure of the taxable U.S. bond market, including most Treasury, agency, corporate, mortgage-backed, asset-backed, and international dollar-denominated issues, all with maturities of 1 year or more. Investments cannot be made in an index.

Total Returns Average Annual Total Returns
1 Mo.* 3 Mo.* Since Inception
BBH Income Fund (Class I) -0.79% -0.12% -0.31%
Bloomberg Barclays US Aggregate Index -0.64% 0.02% -0.04%

Class I Net/Gross Expense Ratio (%):  0.50 / 0.69
The fund is new with a limited operating history.

* Returns are not annualized.
“Inception date” is the inception date of the BBH Income Fund (06/27/2018).
All performance is net of fees.

The Investment Adviser has contractually agreed to limit the Total Annual Fund Operating Expenses to 0.50% through 6/30/2019. The agreement may only be terminated during its term with approval of the Fund's Board of Trustees (the “Board").

Past performance does not guarantee future results, and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate and shares, when sold, may be worth more or less than the original cost. For the most recent month-end performance, call 1 (800) 625-5769


The Bloomberg Barclays U.S. Aggregate Index  covers the USD-denominated, investment-grade (rated Baa3 or above by Moody's), fixed-rate, and taxable areas of the bond market. This is the broadest measure of the taxable U.S. bond market, including most Treasury, agency, corporate, mortgage-backed, asset-backed, and international dollar-denominated issues, all with maturities of 1 year or more. Investments cannot be made in an index.

Top Ten Credits As of 10/31/2018

Holdings are subject to change.
Totals may not sum due to rounding.
Reported as a percentage of total portfolio.

Oportun Funding LLC 2.0%
Freedom Financial 1.8%
SS&C Technologies INC 1.8%
United Rentals North America 1.8%
Frontera Generation Holdings LLC 1.4%
BCP Renaissance Parent LLC 1.4%
Wyndham Hotels & Resorts 1.4%
Charter Communications 1.4%
Eastern Power LLC Term B 1.4%
Dell Inc 1.4%
Total 15.6%

Sector Distribution As of 10/31/2018

Holdings are subject to change.
Totals may not sum due to rounding.
Reported as a percentage of portfolio securities.

Corporate Securities 20.4%
Asset-Backed Securities 25.6%
Commercial Mortgage-Backed Securities 2.2%
Municipal Securities 0.0%
Mortgage-Backed Securities 0.0%
U.S. Treasuries 32.1%
Trust Preferred 0.0%
Loans 18.1%
Cash and Cash Equivalents 1.6%
Total 100.0%

Duration Distribution As of 10/31/2018

Holdings are subject to change.
Totals may not sum due to rounding.
Reported as a percentage of net assets.

BBH Income Fund Bloomberg Barclays US Aggregate Index
0 - 1 Yr. 26.4% 0.2%
1 - 2 Yrs. 8.2% 11.9%
2 - 4 Yrs. 23.0% 22.2%
4 - 6 Yrs. 10.2% 31.8%
6 - 8 Yrs. 15.6% 17.4%
8 - 12 Yrs. 4.9% 4.3%
12+ Yrs. 11.6% 12.3%
Total 100.0% 100.0%

Full Composition

Download the full list of BBH Income Fund holdings as of the most recent month-end.


Historic Distributions

Ex Date Pay Date Income Short Term Long Term
11/30/2018 11/30/2018 0.025821537 - -
10/31/2018 10/31/2018 0.026508018 - -
09/28/2018 09/28/2018 0.021100525 - -
08/31/2018 08/31/2018 0.023985928 - -
07/31/2018 07/31/2018 0.022197787 - -
06/29/2018 - 0.002149604 - -
Ex Date Pay Date Income Short Term Long Term

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