ALPS Wins a $1.4B Mandate
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Thursday, August 04, 2011

ALPS Wins a $1.4B Mandate

Brown Capital Management [see profile] just tapped a new administrator and transfer agent for its three mutual funds. Last month the Baltimore-based fund firm revealed that, effective August 1, Denver-based ALPS Fund Services would take over administration and transfer agency for: the two-star, $10.7-million Brown Capital Management International Equity Fund; the five-star, $29.7-million Brown Capital Management Mid-Cap Fund; and the four-star, $1.4-billion Brown Capital Management Small Company Fund [see filing].

Meanwhile, Brown has also proposed reorganizing the funds into the brand new Brown Capital Management Mutual Funds trust (they're currently part of The Nottingham Investment Trust II), adding 12b-1 fees (20 basis points for the Small Company Fund and 25 bps for the small International Equity and Mid-Cap funds) and other changes "designed to modernize the Funds' operations and to make the Funds more marketable." The proposals now await approval by the funds' shareholders.

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