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We are pleased to announce that Baron Small Cap Fund has been awarded Morningstar Research’s “Silver” Analyst Rating.™ Fewer than 2% of funds in Morningstar’s U.S. mutual fund database earn “Silver” or “Gold” ratings. The Fund, managed by Cliff Greenberg since its September 30, 1997 inception, invests in small-sized U.S. companies with significant growth potential.
The Morningstar Analyst Rating is not a credit or risk rating, but a subjective evaluation performed by the analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars (process, performance, people, parent and price). Morningstar’s analysts use this valuation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors and the weightings of each pillar may vary. The Analyst Rating reflects overall assessment and is overseen by Morningstar’s Analyst Rating Committee. The analyst rating scale is five-tiered, with three positive ratings (Gold, Silver, Bronze), a Neutral rating and a Negative rating, with Gold being the highest rating and Negative being the lowest rating. The Morningstar Analyst Ratings should not be used as the sole basis in evaluating a mutual fund and are based on Morningstar’s current expectations about future events. Morningstar does not represent ratings as a guarantee. Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar’s expectations not to occur or to differ significantly. The Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. A fund with a “Gold” rating distinguishes itself across the five pillars and has garnered the analysts’ highest level of conviction. A fund with a ‘Silver’ rating has notable advantages across several, but perhaps not all, of the five pillars that give the analysts a high level of conviction. A “Bronze”-rated fund has advantages that outweigh the disadvantages across the five pillars, with sufficient level of analyst conviction to warrant a positive rating. A fund with a ‘Neutral’ rating isn’t seriously flawed across the five pillars, nor does it distinguish itself very positively. A “Negative” rated fund is flawed in at least one if not more pillars and is considered an inferior offering to its peers. Analyst Ratings are reevaluated at least every 14 months.
On March 14, 2019, Ron Baron appeared on CNBC’s “Squawk Box” to give his thoughts on Tesla and other disruptive stocks, among other topics. To view the full segment, visit www.cnbc.com.
Portfolio manager Alex Umansky’s fund awarded Best Global Multi-Cap Growth Fund at 2019 Lipper Awards. View the announcement here.
In the February 2019 issue of Citywire Professional Buyer, Citywire ranked Baron Global Advantage Fund Portfolio Manager Alex Umansky first out of 72 portfolio managers in the Global Multi-Cap Growth category, noting that Umansky “boasts the category’s best personal information ratio over the past three years.” To read the full article, visit citywireusa.com. (Subscription required to access).
On February 8, 2019, Baron Opportunity Fund Portfolio Manager Mike Lippert was featured as the “market monitor” on CNBC’s “Nightly Business Report.” In the interview, Mike discussed 3 companies he thinks are leading the way in digitization and cloud computing. To watch the full interview, visit www.nbr.com.
Baron is pleased to announce that Morningstar has added Baron Discovery Fund and Baron Global Advantage Fund to its “Prospects” list of up-and-coming or under-the-radar strategies that Morningstar Manager Research thinks might be worthy of full coverage someday. Currently, Baron Growth Fund, Baron Asset Fund, Baron Small Cap Fund, Baron Partners Fund, and Baron Emerging Markets Fund all have full coverage by Morningstar.
On February 8, 2019, the Board of Trustees of Baron Select Funds voted to close and liquidate Baron Energy and Resources Fund. For more information, click here.
In a December 14 Barron’s article, Alex Umansky, portfolio manager of Baron Global Advantage Fund and Baron Fifth Avenue Growth Fund, discussed several emerging market stocks he likes heading into 2019. To read the full article, visit www.barrons.com. (Subscription required to access).
In "The Journal Report," The Wall Street Journal's monthly review of mutual funds and ETFs, Baron Opportunity Fund and Baron Focused Growth Fund ranked among top performing funds in their respective peer groups for year-to-date total returns through November 30, 2018 according to Lipper. To view the full list of "Category Kings," visit http://www.wsj.com.
Lipper Funds Category Average is not weighted and represents the straight average of annualized returns of each of the funds in the category.
At the 2018 Baron Investment Conference, Ron Baron joined Ken Moelis, chairman and CEO of Moelis & Company, on CNBC’s “Squawk Box” to discuss Moelis’ investment strategy and the outlook for M&A activity. To view the full interview, visit www.cnbc.com.
Portfolio holdings as a percentage of net assets as of September 30, 2018 for Moelis & Company are as follows: Baron Growth Fund (0.6%), Baron Small Cap Fund (0.9%).