About BIAMX
Brown Advisory Maryland Bond Fund Investor Shares is an open-end municipal bond mutual fund focused on generating a high level of current income that is exempt from both federal and Maryland state and local income taxes. The strategy primarily invests in high-quality Maryland municipal securities, including general obligation and revenue bonds issued by the state, local governments, and public financing authorities, with the flexibility to hold select municipal issues from other states and U.S. territories, and to use derivatives for risk management. The portfolio is actively managed with a bottom-up, research-driven process, emphasizing risk mitigation, liquidity, and diversification across sectors, while typically maintaining an average maturity between five and ten years and an intermediate effective duration profile. The fund distributes income monthly and targets tax-efficient total return through security selection and maturity positioning. Key profile characteristics recently reported include an effective duration around the intermediate range, a concentrated but diversified lineup of holdings, and an expense ratio aligned with cost-conscious municipal peers. This single-state municipal approach serves investors seeking Maryland-focused, triple tax–advantaged income within the intermediate muni category.
Fund Family Brown Advisory Funds
Category Muni Single State Interm
Performance Rating High
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol BIAMX
Share Class Investor Shares
Index Bloomberg Municipal Bond 1-10 Y Blend TR
BIAMX had a total return of 4.63% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.30%.
