Trust Issues: Investing in US small-caps with BASC’s Christopher Berrier

In this episode of Trust Issues, we speak to Christopher Berrier, manager of Brown Advisory US Smaller Companies (BASC), and Rob Furlong, equity research analyst, about the investment case for US small-caps. We discuss the drivers of the US small-cap rally, portfolio changes, thoughts on AI and software services and M&A activity, amongst other things. 00:00 Introduction 00:41 Drivers of US small-cap rally 03:43 Portfolio changes versus the benchmark 09:00 Weighing up AI winners and losers  15:18 Impact of higher oil prices 21:33 M&A activity 26:22 Further information 26:35 Risk warning

Our latest note on BASC - https://www.trustintelligence.co.uk/investor/articles?fund_id=172 

BASC website - https://www.brownadvisory.com/intl/investment-trusts/brown-advisory-us-smaller-companies-plc    Please note that this podcast was recorded on 18 June 2026.