Investor Summary

The Brown Capital Management Mid Company Fund was led by Eddie C. Brown, Chairman, CEO, and Founder of Brown Capital Management, who served as lead portfolio manager since September 30, 2002. Brown brought over 40 years of investment experience and held both CFA and CIC designations. The management team included experienced professionals Walton Pearson, Kayode Aje, CFA, Kwame Webb, CFA, and Ed Zane. Following the fund's termination in August 2024, significant team transitions occurred with Walt Pearson retiring on June 30, 2024, while the remaining Mid Company team members joined the International Team as portfolio managers effective July 15, 2024. Brown Capital Management, founded in 1983, is recognized as one of the oldest African-American-founded asset management firms in the United States and operates as 100% employee-owned with 37 employees.

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Fund Strategy

Brown Capital Management employs a singular investment philosophy based on identifying Exceptional Growth Companies, ignoring traditional benchmarks, and maintaining the patience and tolerance to hold positions for years. The firm believes that a sustained commitment to a portfolio of exceptional companies will, over time, generate attractive long-term returns. The strategy emphasizes vigorous internal debate and patient investing as core components. Companies are sized by operating revenues rather than market capitalization, with the fund targeting companies with total operating revenues between $500 million and $2.5 billion at initial investment. The approach typically maintains a concentrated portfolio of 40 to 60 securities believed to have significant growth potential. CRITICAL NOTE: This fund was officially terminated on August 12, 2024.

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FUND PERFORMANCE AS OF 30th June 2024

ANNUALIZED SINCE INCEPTION QUARTERLY YTD
9.4% -7.9% -3.1%