Brown Capital Management, an investment management company, released its “The Brown Capital Management International All-Company Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund-Investor shares lost 4.46% compared to a 2.84% total return for the MSCI World ex-US Growth-Net Index. YTD, the fund returned 6.67% underperforming the 19.32% return for the index. The underperformance of the fund was driven by a mix of company-specific challenges and missing out on some of the best-performing industries. In addition, check...
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