An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available at www.browncapital.com or by calling Shareholder Services at 1-877-892-4226. The prospectus should be read carefully before investing. An investment in the Funds involves risk, including loss of principal. Private equity firms have experienced accelerated growth over the past 10 years, with assets under management (AUM) increasing from US2 trillion in 2013 to try this US4.4 trillion in 2022.1 This rapid growth has presented numerous hurdles for private equity firms, which have had to contend with proposals for greater regulatory oversight, increased competition for investment dollars and the escalating need to scale back-office functions and technology to support continued asset growth.