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Trending ETFs

Name

As of 04/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$21.55

$2.16 B

0.00%

1.31%

Vitals

YTD Return

-4.3%

1 yr return

5.9%

3 Yr Avg Return

-5.4%

5 Yr Avg Return

6.3%

Net Assets

$2.16 B

Holdings in Top 10

45.2%

52 WEEK LOW AND HIGH

$21.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.31%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 8.00%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$5,000

IRA

$2,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 04/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$21.55

$2.16 B

0.00%

1.31%

BCSVX - Profile

Distributions

  • YTD Total Return -4.3%
  • 3 Yr Annualized Total Return -5.4%
  • 5 Yr Annualized Total Return 6.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.22%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    The Brown Capital Management International Small Company Fund
  • Fund Family Name
    Brown Capital Management
  • Inception Date
    Sep 30, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Maurice Haywood

Fund Description

The International Small Company Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in the equity securities of non-U.S. based companies with total operating revenues of $500 million or less at the time of the initial investment, (“small companies”). It is important to note that the International Small Company Fund does NOT choose its portfolio companies based on a reference to market capitalization. Rather, the focus of the International Small Company Fund is on the revenue produced by the issuer of the securities.

The International Small Company Fund typically invests in common stocks. The Advisor seeks to build a portfolio of exceptional small companies with the wherewithal to become exceptional large companies. The International Small Company Fund typically holds a portfolio of between 40 – 65 securities which the Advisor believes have the potential for growth.

The International Small Company Fund considers an issuer to be non–U.S. based if: (1) the issuer is organized under the laws of a jurisdiction other than those of the U.S.; (2) the securities of the issuer have a primary listing on a stock exchange outside the U.S. regardless of the country in which the issuer is organized; or (3) the issuer derives 50% or more of its total revenue from goods and/or services produced or sold outside of the U.S. The Fund may invest in the securities of emerging or developing markets.

The Advisor’s Philosophy

The Advisor believes that a sustained commitment to a portfolio of exceptional companies will, over time, generate attractive long-term returns. The Advisor believes exceptional companies save time, lives, money or headaches or provide an exceptional value proposition to consumers.  The Advisor views these differentiated organizations as having the wherewithal to provide unique solutions that include, but are not limited to, the utilization of innovative technology and insight to help address or redefine the challenges faced by institutions or consumers. These companies often retain a long-term growth plan, durable revenue growth, defensible market presence and profitability to fuel and sustain earnings per share growth. While investing in exceptional growth companies is paramount, the Advisor believes in being disciplined and deliberate about what it is willing to pay for growth opportunities and doing so in a benchmark agnostic manner (meaning that the Advisor selects companies without consideration of benchmarks by which the Fund is measured). Because the International Small Company Fund is managed in a benchmark agnostic manner, an unintended consequence is that the Fund may have sector exposure.

The Advisor’s Investment Approach

The Advisor believes an investment program establishes the processes necessary to identify, research and construct a portfolio. The Advisor distinguishes “Small Company” from “small capitalization” investing by its use of revenue not market capitalization to identify and invest in exceptional small companies that have the wherewithal to become exceptional larger companies. The Advisor sources ideas from many places. Companies eligible for investment typically generate no more than $500 million in revenue at the time of initial investment. The Advisor’s investment professionals retain dual duties, managing the portfolio as a team and serving as generalists in their analytical role. They discuss prospective portfolio candidates with teammates before any in depth research is performed to ensure the commitment of time dedicated to understanding the company makes sense to all team members.

The Advisor believes that in-depth fundamental research, when applied over a three to five-year time horizon, and implemented within a benchmark agnostic framework, has the potential to generate attractive long-term returns.

Therefore, the foundation of the Advisor’s process is fundamental analysis. Valuation is also part of the investment process.

The Advisor constructs the International Small Company Fund’s portfolio to generally be no more than 5% in cash. The Advisor believes a diversified portfolio of 40-65 securities and their research efforts may, collective, reduce portfolio risk.

The Advisor generally expects to hold securities for the long term. The Advisor typically sells securities from the International Small Company Fund’s portfolio when the Advisor determines that the investment thesis driving the purchase of the company changes, the Advisor has a better investment idea, and/or its valuation no longer meets expectations.

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BCSVX - Performance

Return Ranking - Trailing

Period BCSVX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.3% -9.3% 6.0% 69.11%
1 Yr 5.9% -18.2% 26.6% 27.64%
3 Yr -5.4%* -27.6% -1.6% 28.07%
5 Yr 6.3%* -8.9% 8.8% 8.04%
10 Yr N/A* 0.7% 7.1% N/A

* Annualized

Return Ranking - Calendar

Period BCSVX Return Category Return Low Category Return High Rank in Category (%)
2023 20.0% -16.8% 28.8% 8.94%
2022 -31.6% -46.4% -21.4% 57.98%
2021 7.1% -30.6% 16.4% 19.47%
2020 43.6% 0.1% 62.2% 6.19%
2019 26.0% 9.7% 44.0% 36.36%

Total Return Ranking - Trailing

Period BCSVX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.3% -9.3% 6.0% 69.11%
1 Yr 5.9% -18.2% 26.6% 27.64%
3 Yr -5.4%* -27.6% -1.6% 28.07%
5 Yr 6.3%* -8.9% 8.8% 8.04%
10 Yr N/A* 0.7% 7.1% N/A

* Annualized

Total Return Ranking - Calendar

Period BCSVX Return Category Return Low Category Return High Rank in Category (%)
2023 20.0% -16.5% 30.7% 8.94%
2022 -31.6% -46.4% -18.5% 67.23%
2021 12.7% -30.6% 24.7% 38.94%
2020 44.7% 1.6% 68.3% 8.85%
2019 26.4% 9.7% 44.0% 53.64%

NAV & Total Return History


BCSVX - Holdings

Concentration Analysis

BCSVX Category Low Category High BCSVX % Rank
Net Assets 2.16 B 25.2 K 6.45 B 18.55%
Number of Holdings 39 39 1618 99.19%
Net Assets in Top 10 978 M 686 K 1 B 4.03%
Weighting of Top 10 45.21% 5.3% 53.0% 1.61%

Top 10 Holdings

  1. REA Group Ltd 6.16%
  2. CyberArk Software Ltd 5.49%
  3. Descartes Systems Group Inc/Th 5.14%
  4. WiseTech Global Ltd 4.65%
  5. Interparfums SA 4.21%
  6. Lectra 4.16%
  7. Kinaxis Inc 3.99%
  8. Hemnet Group AB 3.84%
  9. Evotec AG 3.81%
  10. Nexus AG 3.76%

Asset Allocation

Weighting Return Low Return High BCSVX % Rank
Stocks
97.61% 91.39% 99.81% 38.71%
Cash
2.42% 0.00% 6.85% 43.55%
Preferred Stocks
0.00% 0.00% 8.16% 35.48%
Other
0.00% -0.01% 5.11% 28.23%
Convertible Bonds
0.00% 0.00% 0.00% 0.81%
Bonds
0.00% 0.00% 2.66% 4.03%

Stock Sector Breakdown

Weighting Return Low Return High BCSVX % Rank
Technology
34.51% 6.70% 37.76% 2.42%
Healthcare
29.97% 1.74% 29.97% 0.81%
Communication Services
11.71% 1.49% 23.23% 8.06%
Financial Services
7.63% 1.92% 22.28% 61.29%
Consumer Cyclical
4.64% 1.31% 28.28% 87.90%
Consumer Defense
4.60% 1.61% 17.90% 58.06%
Utilities
4.35% 0.00% 5.12% 4.03%
Basic Materials
2.19% 0.00% 18.70% 81.45%
Energy
0.40% 0.00% 9.29% 68.55%
Real Estate
0.00% 0.00% 13.00% 83.06%
Industrials
0.00% 0.00% 40.13% 99.19%

Stock Geographic Breakdown

Weighting Return Low Return High BCSVX % Rank
Non US
89.73% 62.81% 98.57% 63.71%
US
7.88% 0.00% 32.46% 29.84%

BCSVX - Expenses

Operational Fees

BCSVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.31% 0.01% 41.09% 58.06%
Management Fee 1.00% 0.00% 1.75% 60.48%
12b-1 Fee 0.25% 0.00% 1.00% 19.23%
Administrative Fee N/A 0.05% 0.26% N/A

Sales Fees

BCSVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

BCSVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 2.00% 2.00% 4.76%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BCSVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 8.00% 8.00% 236.00% 1.00%

BCSVX - Distributions

Dividend Yield Analysis

BCSVX Category Low Category High BCSVX % Rank
Dividend Yield 0.00% 0.00% 5.69% 71.77%

Dividend Distribution Analysis

BCSVX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

BCSVX Category Low Category High BCSVX % Rank
Net Income Ratio -0.22% -1.81% 1.51% 65.55%

Capital Gain Distribution Analysis

BCSVX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

BCSVX - Fund Manager Analysis

Managers

Maurice Haywood


Start Date

Tenure

Tenure Rank

Sep 30, 2015

6.67

6.7%

Managing Director and Senior Portfolio Manager Maurice L. Haywood joined Brown Capital Management in 2000 and serves on the firm’s board of directors. Prior to this, Maurice was a partner and investment analyst at Holland Capital Management, and an assistant VP at the First National Bank of Chicago. Maurice holds an MBA in finance and marketing from the J.L. Kellogg Graduate School of Management at Northwestern University and a BA in accounting and finance from Morehouse College, where he graduated magna cum laude and Phi Beta Kappa. A CFA charterholder, Maurice is a member of the CFA Institute and the Baltimore CFA Society Inc.

Duncan Evered


Start Date

Tenure

Tenure Rank

Sep 30, 2015

6.67

6.7%

Managing Director and Senior Portfolio Manager Duncan J. Evered joined Brown Capital Management in 2011. Prior to joining the firm, Duncan served as a portfolio manager and, previously, as a senior analyst at American Express Financial Advisors. Prior to that, he was a general partner at Emerging Growth Partners, L.P. Duncan has managed both institutional portfolios and mutual funds in the small and mid-cap growth equity areas. He earned an MBA from the Stanford Graduate School of Business and a BS in mathematical sciences from Stanford University.

Kabir Goyal


Start Date

Tenure

Tenure Rank

Dec 31, 2017

4.42

4.4%

Director and Portfolio Manager Kabir Goyal joined Brown Capital Management in 2017. Prior to this, Kabir was an Associate Portfolio Manager for the Wasatch International Growth Fund since 2015 and joined Wasatch Advisors in 2012 as a Senior Equities Analyst on the international research team. Before joining Wasatch Advisors, Kabir worked as an equity analyst at Putnam Investments in Boston, focusing on international industrials and materials. He began his career at Cambridge Associates in Menlo Park, California. where he was promoted to senior associate and team leader of the associates. In addition to the CFA certification, Kabir holds an MBA from the MIT Sloan School of Management and a BA in computer science and economics from Pomona College.

Daniel Boston


Start Date

Tenure

Tenure Rank

Apr 03, 2019

3.16

3.2%

Prior to joining Chautauqua Capital in 2013, Mr. Boston served as a Senior Portfolio Manager and Head of International Equity for Ensign Peak Advisors. He was responsible for constructing and managing the firm’s international all-cap equity portfolio and institutionalizing the firm’s fundamental research process. Before that, Mr. Boston served as a Senior Equity Analyst at Wasatch Advisors, working as a generalist and a financial sector specialist supporting both domestic and international equity funds. He also worked on the international growth team at Artisan Partners as an Equity Research Intern. He holds a B.S. in Accounting from Brigham Young University, and an M.B.A. from the Yale School of Management. During his time at Yale, he served as a research assistant to Nobel Laureate Economist Robert Shiller.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 28.52 5.67 0.17