Brown Capital Mgmt Small Co Instl  BCSIX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Small Growth Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Small
   Growth
  
  
As of 2009-09-30
Day Change
$ -0.11
  
NAV (2009-11-10)
$ 33.72
  
YTD Return % (2009-11-10)
36.96%
  
Total Assets ($ mil)
594
View Data Definitions
  Performance    
Growth of $10,000 Fund: Brown Capital Mgmt Small Co Instl
(from 1999-01-01 to 2009-10-31) Category: Small Growth
Index: S&P 500 TR
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-10
Inception date: 1992-07-23 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-10
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 34.61 66.00 3.85 7.93 7.14 10.42
+/- Category 12.96 52.83 11.30 7.71 5.22 ---
+/- S&P 500 TR 11.09 17.20 9.75 7.25 --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 37.49 5.69 9.06 9.18 7.69 10.76
Month-End (as of 2009-10-31) 31.44 29.57 4.95 8.42 7.14 10.42
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 29.31 3.84 7.73 6.49 ---
On Distribution & Sale of Shares --- 19.44 4.20 7.28 6.13 ---
Morningstar Rating --- --- ---
# of compared funds covered (3 yrs : out of 669 funds), (5 yrs : out of 554 funds), (10 yrs : out of 318 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
Information 51.90
Software 33.41
Hardware 17.87
Media 0.00
Telecommunications 0.62
Service 29.10
Healthcare 26.99
Consumer Services 0.00
Business Services 2.11
Financial Services 0.00
Manufacturing 19.00
Consumer Goods 8.28
Industrial Materials 6.77
Energy 3.95
Utilities 0.00
Asset Allocation
% of Net Assets
Cash 5.7
Stocks 94.3
Bonds 0.0
Other 0.0
Foreign Stocks 0.0
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings 45 Turnover % 8
Total Number of Bond Holdings 0 30 Day SEC Yield % 0.10
% of Assets in Top 10 Holdings 33.57 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Sector P/E YTD
Return %		 % of Net
Assets
Dreyfus Cash Management Instl --- --- --- 4.57
Rovi Corp 52.63 137.55 4.33
Abaxis, Inc. 28.09 40.74 3.95
Carbo Ceramics, Inc. 14.39 68.17 3.72
Green Mountain Coffee Roasters, Inc. 29.41 151.98 3.58
Quality Systems, Inc. 26.74 41.72 3.34
Meridian Bioscience, Inc. 33.90 -15.47 3.27
Neogen Corporation 27.86 32.95 2.99
FEI Company 30.96 31.50 2.84
Concur Technologies, Inc. 82.64 12.83 2.79
Data through 2009-09-30
YTD Return through 2009-11-20
  Other Information
Fund Inception: 1992-07-23
Portfolio Manager  (Start Date)
Keith A. Lee  (1992-07-23)
Lee is currently a portfolio manager with Brown Capital Management. Prior to joining the firm, Lee worked for Nexus Consulting for one year and at Alex, Brown & Sons for one year. He was also employed with Prudential Securities for three years.
Robert E. Hall  (1993-09-20)
Hall has been a portfolio manager of FRIM Co. since April 2003. From 1995 to 2002, he was a senior research analyst with Russell Investments Limited, an affiliate of FRIMCo.
Kempton Ingersol  (1999-03-15)
Ingersol joined the Advisor in March 1999. From March 1999 through October 2000, Ingersol served as Brown Capital Management’s Marketing Director in the Texas Region. Prior to that, Ingersol was an investment banker at both Dain Rauscher Incorporated and Grigsby Brandford & Company from June 1997 to March 1999 and April 1994 to June 1997, respectively.
Amy Y. Zhang  (2002-12-16)
Zhang was an analyst at Epsilon Investment Management LLC from June 1999 to September 2002. She was previously an analyst at Templeton from January 1998 to June 1999.
Sales Charge %
(taken from prospectus dated 2009-07-29)
Front: None
Deferred: None
Expense Ratio % 1.24
based on net assets
(taken from annual report dated 2009-03-31)
Correspondence Information
116 South Franklin Street
P O Box 69
Rocky Mount,  NC  27802
United States
Telephone:
877-892-4226
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

© Copyright 2009 Morningstar, Inc. All rights reserved. Morningstar, the Morningstar logo, Morningstar.com, Morningstar Tools are either trademark or service marks of Morningstar, Inc.
Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.