BCSIX Fees and Costs — Brown Capital Management Small Company Fund, Investor Class
Data updated: 2026-08-21
The net expense ratio is 1.44%: a 1.00% management fee, a 0.20% 12b-1 fee plus 0.24% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $492K in broker commissions, 0.0739% of average net assets, and portfolio turnover was 13%.
BCSIX Fees and Expenses
Annual operating expenses and sales charges of BCSIX. Prospectus, as of August 3, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.20% |
| Other expenses | 0.24% |
| Gross expense ratio | 1.44% |
| Fee waiver | — |
| Net expense ratio | 1.44% |
| 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 |
BCSIX Costs Over Time
On $10,000 invested in BCSIX, assuming 5% a year before costs, total costs come to $937 over 5 years, cutting the return by 1.59% 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 1.44%) | $151 | $469 | $809 |
| Trading costs (broker commissions) | $8 | $24 | $42 |
| Lost growth on money paid in costs | $0 | $25 | $86 |
| Total costs | $159 | $518 | $937 |
| Value after costs | $10,341 | $11,058 | $11,826 |
| Impact on return, per year | 1.59% | 1.59% | 1.59% |
BCSIX 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): 0.0739%
- Total broker commissions: $492K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 13%
- Securities lending: none during the year
BCSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs | $192K | 39.45% |
| Barclays | $158K | 32.41% |
| ITG Derivatives LLC | $40K | 8.26% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $25K | 5.17% |
| William Blair | $22K | 4.46% |
| RAYMOND JAMES (USA) LTD. | $17K | 3.54% |
| CANACCORD GENUITY LLC | $12K | 2.56% |
| Robert W Baird (Rwb) | $8K | 1.55% |
| Morgan Stanley | $7K | 1.42% |
| Lake Street Capital Markets, LLC | $6K | 1.18% |
Brown Capital Management Small 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 |
|---|---|---|---|
| BCSSX | Institutional Class | 1.24% | none |
| BCSIX | Investor Class | 1.44% | 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.