Fund Evaluator:

Brown Capital Mgmt Intl Sm Co Inv Overview

Brown Capital Mgmt Intl Sm Co Inv (BCSVX) is an actively managed International Equity Foreign Small/Mid Growth fund. Brown Capital Management launched the fund in 2015.

The investment seeks long-term capital appreciation; current income is a secondary consideration in selecting portfolio investments. The fund invests at least 80% of its net assets 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. The Advisor constructs the 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.

About Brown Capital Mgmt Intl Sm Co Inv (BCSVX)

There are 4 members of the management team with an average tenure of 4.63 years: Kayode Aje (2024), Niuzhuo (Zoey) Zuo (2022), Kwame Webb (2024), Maurice Haywood (2015). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and MSCI ACWI Ex USA Small NR USD index with a weighting of 100%. Brown Capital Mgmt Intl Sm Co Inv has 37 securities in its portfolio. The top 10 holdings constitute 42.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Brown Capital Mgmt Intl Sm Co Inv is part of the Equity global asset class and is within the International Equity fund group. Brown Capital Mgmt Intl Sm Co Inv has 96.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.4%. There is 96.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Brown Capital Mgmt Intl Sm Co Inv has 1.2% of the portfolio in cash.

Assets Under Management

The fund has $108 million in total assets, which is below the $327 million average for the Foreign Small/Mid Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

BCSVX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Brown Capital Mgmt Intl Sm Co Inv expense ratio is high compared to funds in the Foreign Small/Mid Growth category. Brown Capital Mgmt Intl Sm Co Inv has an expense ratio of 1.31%, which is 7% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Brown Capital Mgmt Intl Sm Co Inv has a portfolio turnover rate of 16%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 64% for the Foreign Small/Mid Growth category.

Recently, in the month of June 2026, Brown Capital Mgmt Intl Sm Co Inv returned -4.1%, which earned it a grade of F, as the Foreign Small/Mid Growth category had an average return of -2.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Brown Capital Mgmt Intl Sm Co Inv has a trailing yield of 0.44%, which is below the 1.42% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Brown Capital Mgmt Intl Sm Co Inv Grades

Year to date, the fund has returned -15.0%, 23.9 percentage points worse than the category, which translates into a grade of F. The fund has returned -26.9% over the past year (grade of F), -1.7% over the past three years (grade of F) and -4.7% per year over the past five years (grade of F) and 7.3% per year over the past 10 years (grade of C).

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