Brown Capital Management, Inc.

Small Company Fund Profile

Investment Objective

The investment objective of the Brown Capital Management, Inc. Small Company Fund is capital appreciation through investments in the common stock of companies with operating revenues of $250 million or less at the time of initial investment -- companies our investment professionals believe are at the early stages of their success. This fund is designed for investors looking for growth and willing to accept a more aggressive level of risk.

NASDAQ Ticker Symbol

BCSIX

Inception Date

7/23/92

Minimum Investment

Initial:	$10,000	Initial IRA:	$2,000
Subsequent:	$ 500	Subsequent IRA:	$ 500

Fees and Expense Ratio

	Institutional Class Shares	Investor Class Shares
Sales Load	None	None
12b-1	None	0.25%
Total Operating Expense Ratio*	1.50%	1.75%

* Brown Capital Management, Inc. is currently voluntarily waiving all or a portion of its fee, reimbursing expenses of the Fund to limit the total Fund operating expense ratio to the competitive rates above. The total operating expense ratio is measured as a percentage of the average daily net assets of the Fund. The expense ratio includes the following fees and expenses: management fees, administrative fees, legal fees, and accounting fees, among others.

NOTE: Read the prospectus carefully before investing.

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