BCSVX Fees and Costs — Brown Capital Management International Small Company Fund, Investor Class
Data updated: 2026-08-21
The net expense ratio is 1.32%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.07% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.0M in broker commissions, 0.0494% of average net assets, and portfolio turnover was 16%.
BCSVX Fees and Expenses
Annual operating expenses and sales charges of BCSVX. Prospectus, as of August 3, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.07% |
| Gross expense ratio | 1.32% |
| Fee waiver | — |
| Net expense ratio | 1.32% |
| 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 |
BCSVX Costs Over Time
On $10,000 invested in BCSVX, assuming 5% a year before costs, total costs come to $850 over 5 years, cutting the return by 1.44% 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 1.32%) | $139 | $431 | $744 |
| Trading costs (broker commissions) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $22 | $78 |
| Total costs | $144 | $469 | $850 |
| Value after costs | $10,356 | $11,107 | $11,913 |
| Impact on return, per year | 1.44% | 1.44% | 1.44% |
BCSVX 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): 0.0494%
- Total broker commissions: $1.0M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 16%
- Securities lending: none during the year
BCSVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital, Inc. | $220K | 23.29% |
| Goldman Sachs | $172K | 18.17% |
| ITG Der | $149K | 15.73% |
| Loop Capital Markets | $116K | 12.29% |
| Morgan Stanley | $109K | 11.50% |
| BERENBERG CAPITAL MARKETS LLC | $52K | 5.46% |
| Carnegie | $47K | 4.93% |
| Daiwa Capital Markets | $41K | 4.34% |
| Macquarie Equities | $22K | 2.33% |
| JEFFERIES LLC | $19K | 1.97% |
Brown Capital Management International 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 |
|---|---|---|---|
| BCSFX | Institutional Class | 1.07% | none |
| BCSVX | Investor Class | 1.32% | 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.