TRANSACTION SUMMARY

On 19 March 2018, Findlay Park and Brown Advisory announced that the Findlay Park Latin American Fund will merge into the newly created Brown Advisory Latin American Fund on 30 April 2018, subject to the approval of the fund’s shareholders. Rupert Brandt and Peter Cawston, managers of the Findlay Park Latin American Fund, will join Brown Advisory’s investment team in London on the same date to manage the new fund. There will be no changes to the team, philosophy or investment process of the fund, and to add further continuity to the transition, Alex Hammond-Chambers, Chairman of the Findlay Park Funds plc Board, will join the Brown Advisory Funds plc (UCITS) Board.

FINDLAY PARK LATIN AMERICA FUND

The Findlay Park Latin American Fund was launched in October 2006 and has ~$0.5bn in assets under management. The Fund has a strong investment track record, and won the 2018 Lipper Fund Award for the Best Fund Latin American Equity over 10 years. The managers seek long-term capital growth by investing in high-quality companies that they believe have very little or no balance sheet risk, are attractively valued, have very strong business franchises, generate plenty of cash flow and generally don’t need to raise capital in order to finance a 15% growth rate.

BROWN ADVISORY

Brown Advisory is an independent investment firm serving private clients and institutions in 34 countries from eight offices globally and is responsible for approximately $60bn in client assets. Brown Advisory opened its London office in 2008 and has grown international client assets to over $6bn and the number of colleagues to 43 including an eight-person investment team.

ROLE

Spencer House Partners acted as sole financial adviser to Findlay Park Partners LLP.