Brown Capital Management, an investment management company, has released its Q3 2024 investor letter “The Brown Capital Management Small Company Fund.” You can download a copy of the letter here. The Small Company Fund returned 8.48% in the quarter, roughly in line with the 8.41% return of the Russell 2000 Growth Index. The Fund has gained just 1.80% so far, far behind the benchmark return of 13.22%, despite this quarter representing a small step towards a fundamentally driven market. Plus, take a look at the fund’s top five investments to see what the best choices are in 2024.
Brown Capital Management Small Company Fund highlighted stocks like Guidewire Software, Inc. in its Q3 2024 investor letter. (NYSE:GWRE). Guidewire Software, Inc. (NYSE:GWRE) provides a platform for property and casualty (P&C) insurers. The one-month return of Guidewire Software, Inc. (NYSE:GWRE) was -15.17%, and the shares have gained 58.54% of their value over the past 52 weeks. On December 19, 2024, shares of Guidewire Software, Inc. closed. (NYSE:GWRE) at $172.06 per share with a market cap of $14.37 billion.
The Brown Capital Management Small Company Fund stated the following about Guidewire Software, Inc. (NYSE:GWRE) in its Q3 2024 investor letter:
Guidewire Software, Inc. (NYSE:GWRE) is a packaged software provider that runs mission-critical processes for property and casualty insurance companies. These processes include claims handling, underwriting, policy administration and customer billing. Guidewire’s software replaces decades-old code running on mainframe computers, reducing costs and improving decision-making and flexibility. Guidewire is beginning to reap the benefits of a years-long effort to transition customers from on-premise applications to the cloud platform. This platform allows Guidewire to increase the number of product releases, which is also well received by customers.
