BCSFX – Brown Capital Mgmt Intl Sm Co Instl Investment Strategy | Morningstar

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Strategy

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.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
BCSVX	Brown Capital Management International Small Company Fund Investor Shares	No Load	Open			Sep 30, 2015	$103.10M	1.320%	Above Average	$5,000	−$47.40M
BCSFX	Brown Capital Management International Small Company Fund Institutional Shares	Institutional	Open			Sep 30, 2015	$535.70M	1.070%	Average	$500,000	−$1.14B

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