Brown Advisory Maryland Bond Fund (Brown Advisory Maryland Bond Fd) fond

The fund normally invests at least 80% of the value of its net assets (plus any borrowings for investment purposes) in Maryland bonds, including bonds issued on behalf of the State of Maryland, its local governments and public financing authorities. It may also invest in municipal securities issued by other states, U.S. territories, and possessions, U.S. government securities, general obligation securities and revenue securities, including private activity bonds. The fund is non-diversified.