BCIIX Fees and Costs — Brown Capital Management International All Company Fund, Investor Class
Data updated: 2026-08-21
The net expense ratio is 1.25%: a 0.90% management fee, a 0.25% 12b-1 fee plus 0.80% other expenses, less a 0.70% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $32K in broker commissions, 0.0463% of average net assets, and portfolio turnover was 56%.
BCIIX Fees and Expenses
Annual operating expenses and sales charges of BCIIX. Prospectus, as of August 6, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.80% |
| Gross expense ratio | 1.95% |
| Fee waiver | −0.70% |
| Net expense ratio | 1.25% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
BCIIX Costs Over Time
On $10,000 invested in BCIIX, assuming 5% a year before costs, total costs come to $806 over 5 years, cutting the return by 1.36% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.25%) | $131 | $408 | $706 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $136 | $444 | $806 |
| Value after costs | $10,364 | $11,132 | $11,957 |
| Impact on return, per year | 1.36% | 1.36% | 1.36% |
BCIIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0463%
- Total broker commissions: $32K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 56%
- Securities lending: none during the year
BCIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs | $12K | 35.94% |
| Barclays Capital, Inc. | $9K | 27.44% |
| Morgan Stanley | $4K | 12.28% |
| Loop Capital Markets | $2K | 5.88% |
| Daiwa Capital Markets America Inc. | $2K | 5.66% |
| BERENBERG CAPITAL MARKETS LLC | $2K | 5.24% |
| ITG Derivatives, LLC. | $952 | 2.96% |
| DNB Carnegie, Inc. | $791 | 2.46% |
| Robert W. Baird & Co | $356 | 1.11% |
| Macquire Capital (USA) Inc. | $338 | 1.05% |
Brown Capital Management International All Company Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BCISX | Institutional Class | 1.00% | none |
| BCIIX | Investor Class | 1.25% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.