Santander MM team adds Brown Advisory American

Santander's multi-manager team has added the $233m Brown Advisory American fund to its portfolios as it concentrates active US exposure around three core holdings.

The fund joins Robeco US Premium Equities and J. P. Morgan’s US Select fund as a central US equity holding in Tom Caddick and Toby Vaughan’s portfolios, alongside a small exposure to passives. “We are looking for a fund that has the ability to deliver performance in different market environments. Brown Advisory American has a very good investment process, a strong track record and is managed by a pure US specialist equity house,” said Vaughan. “We have been constructive on US equities for some time. It was our largest overweight position throughout last year and it remains so now.” ...