(40-17F2)
31 Luglio 2013 - 10:22PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-17f-2 OMB
Approval
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Certificate of Accounting of Securities and OMB Number:
3235-0360
Similar Investments in the Custody Expires:
December 31, 2014
of Management Investment Companies Estimate average
burden hours
per response .
. . . . 2.00
Pursuant to Rule 17f-2 [17 CFR 270.17f-2] -----------------
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1. Investment Company Act File Number: Date examination
completed:
811-21829 October 31,
2012
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2. State Identification Number:
AL AK AZ AR CA
CO
CT DE X DC FL GA
HI
ID IL IN IA KS
KY
LA ME MD MA MI
MN
MS MO MT NE NV
NH
NJ NM NY NC ND
OH
OK OR PA RI SC
SD
TN TX UT VT VA
WA
WV WI WY PUERTO RICO
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Other (specify):
3. Exact name of investment company as specified in
registration statement:
BBH Trust
4. Address of principal executive office
(number,street,city,state,zip code):
140 Broadway, New York, NY 10005
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Trustees of
BBH Trust comprised of
BBH International Equity Fund, BBH Core Select,
BBH Limited Duration Fund and BBH Money Market Fund:
We have examined management's assertion included in the
accompanying Management Statement Regarding Compliance with
Certain Provisions of the Investment Company Act of 1940 that
BBH Trust (comprised of BBH International Equity Fund, BBH
Core Select, BBH Limited Duration Fund, and BBH Money Market
Fund) (collectively, the "Funds") complied with the
requirements of subsections (b) and (c) of Rule 17f-2 under
the Investment Company Act of 1940 (the "Act") as of October
31, 2012. Management is responsible for the Funds' compliance
with those requirements. Our responsibility is to express an
opinion on management's assertion about the Funds' compliance
based on our examination.
Our examination was conducted in accordance with attestation
standards established by the Public Company Accounting
Oversight Board (United States), and accordingly, included
examining on a test basis, evidence about the Funds'
compliance with those requirements and performing such other
procedures as we considered necessary in the circumstances.
Included among our procedures were the following tests
performed without prior notice to management as of October 31,
2012, and with respect to agreement of security purchases and
sales for the period from August 31, 2012 (date of our last
examination) through October 31, 2012:
1. Confirmation of all securities held in book entry form by The
Depository Trust Company, Bank of New York Mellon and various
sub-custodians;
2. Reconciliation of all such securities to the books and records
of the Funds and Brown Brothers Harriman & Co. (the
"Custodian");
3. Confirmation of all repurchase agreements with brokers/banks
and agreement of underlying collateral with the Custodian's
records; and
4. Agreement of 8 security purchases and 8 security sales or
maturities since our last examination from the books and
records of the Funds to broker confirmations.
We believe that our examination provides a reasonable basis
for our opinion. Our examination does not provide a legal
determination on the Funds' compliance with specified
requirements.
In our opinion, management's assertion that the Funds complied
with the requirements of subsections (b) and (c) of Rule 17f-2
of the Act as of October 31, 2012, with respect to securities
reflected in the investment accounts of the Funds, is fairly
stated, in all material respects.
This report is intended solely for the information and use of
management and the Board of Trustees of the Funds and the
Securities and Exchange Commission and is not intended to be
and should not be used by anyone other than these specified
parties.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
July 31, 2013
July 31, 2013
Deloitte & Touche LLP
200 Berkeley Street
Boston, MA 02116
Management Statement Regarding Compliance with Certain
Provisions of the
Investment Company Act of 1940
We, as members of management of BBH Trust (comprised of BBH
International Equity Fund, BBH Core Select, BBH Limited
Duration Fund, and BBH Money Market Fund) (collectively, the
"Funds"), are responsible for complying with the requirements
of subsections (b) and (c) of Rule 17f-2, "Custody of
Investments by Registered Management Investment Companies," of
the Investment Company Act of 1940. We are also responsible
for establishing and maintaining effective internal control
over compliance with those requirements. We have performed an
evaluation of the Funds' compliance with the requirements of
subsections (b) and (c) of Rule 17f-2 as of October 31, 2012,
and for the period from August 31, 2012 through October 31,
2012.
Based on this evaluation, we assert that the Funds were in
compliance with the requirements of subsections (b) and (c) of
Rule 17f-2 of the Investment Company Act of 1940 as of October
31, 2012, and for the period from August 31, 2012 through
October 31, 2012, with respect to securities reflected in the
investment accounts of the Funds.
ON BEHALF OF:
BBH Trust
Charles Schreiber
Treasurer
BBH Trust
Radford W. Klotz
President
BBH Trust
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