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Brown Capital Management, an investment management company, released its “The Brown Capital Management Small Company Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The Small Company Fund returned 8.48% in the quarter, roughly in line with the Russell 2000 Growth index’s 8.41% return. The Fund has only gained 1.80% year to date, far behind the benchmark's return of 13.22%, despite this quarter representing a minor move toward a fundamentally driven market. In addition, check the fund’s top five holdings to know its best picks in 2024.
The Brown Capital Management Small Company Fund highlighted stocks like Guidewire Software, Inc. (NYSE:GWRE) in its Q3 2024 investor letter. Guidewire Software, Inc. (NYSE:GWRE) offers a platform for property and casualty (P&C) insurance companies. The one-month return of Guidewire Software, Inc. (NYSE:GWRE) was -15.17%, and its shares gained 58.54% of their value over the last 52 weeks. On December 19, 2024, Guidewire Software, Inc. (NYSE:GWRE) stock closed at $172.06 per share with a market capitalization of $14.37 billion.
The Brown Capital Management Small Company Fund stated the following regarding Guidewire Software, Inc. (NYSE:GWRE) in its Q3 2024 investor letter:
"Guidewire Software, Inc. (NYSE:GWRE) is a provider of packaged software running mission-critical processes at property and casualty (P&C) insurance companies. These processes include claims handling, underwriting, policy administration and customer billing. Guidewire’s software replaces decades-old code running on mainframe computers, thereby reducing costs and improving decision making and agility. Guidewire is beginning to reap the benefits of a multiyear effort to transition customers from on-premise applications to its cloud platform. This platform enables Guidewire to increase its pace of product releases, which is also being well-received by customers.