The Fund invests mainly in non-U.S. companies of any size with significant growth potential. The Fund invests principally in companies in developed countries. Diversified.
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IN
The Fund invests mainly in non-U.S. companies of any size with significant growth potential. The Fund invests principally in companies in developed countries. Diversified.
As of Jun 30, 2022
NAV | $24.24 |
---|---|
Daily Change ($) | -$0.09 |
Daily Change (%) | -0.37% |
YTD | -28.45% |
Inception Date | 12/31/2008 |
Overall (out of 393 Funds)
Ratings based on risk-adjusted returns as of 05/31/2022
Category:US Fund Foreign Large Growth
Portfolio Manager
years of exp 35
years at baron 15
1Source: FactSet SPAR.
For the period ended 5/31/2022, the Baron International Growth Fund received a 4-Star Overall Morningstar Rating™, 3-Star 3-Year Rating, 4-Star 5-Year Rating, and 4-Star 10-Year Rating. The Morningstar Ratings are based on the Morningstar Risk-Adjusted Return measures of 393, 393, 346, and 218 funds in the category, respectively. This Morningstar Rating is for the Institutional share class only; other classes may have different performance characteristics.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10- year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Morningstar classifies funds as being large-cap, mid-cap, or small-cap based on the market capitalization of the fund’s stock holdings; and as value, blend, or growth based on the value-growth orientation of the stock holdings. The nine possible combinations of these characteristics correspond to the nine squares of the Morningstar Style Box–size is displayed along the vertical axis and style is displayed along the horizontal axis. Please note that the style boxes indicate the Fund’s equity style, not necessarily its Morningstar Category.
© 2022 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
as of 06/30/22
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$24.24 | -$0.09 | -0.37% | -7.97% | -16.18% | -28.45% |
as of 05/31/22
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BINIX - Baron International Growth Fund - I | -8.92% | -22.26% | -22.01% | 8.09% | 6.62% | 8.62% | 9.99% | 0.96% | 0.95% |
MSCI ACWI ex USA Index | -5.61% | -10.74% | -12.41% | 6.49% | 4.42% | 6.39% | 6.89% | ||
MSCI ACWI ex USA IMI Growth Index | -8.41% | -18.23% | -18.73% | 7.05% | 5.26% | 7.21% | 7.89% |
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/19.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
as of 03/31/22
YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|
Gross | Net | |||||||
BINIX - Baron International Growth Fund - I | -14.64% | -8.35% | 10.80% | 10.23% | 8.42% | 10.91% | 1.01% | 0.95% |
MSCI ACWI ex USA Index | -5.44% | -1.48% | 7.51% | 6.76% | 5.55% | 7.45% | ||
MSCI ACWI ex USA IMI Growth Index | -10.72% | -5.75% | 9.43% | 8.67% | 6.84% | 8.71% |
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/19.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
1Not annualized.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
Expense ratios are based on fiscal year ended 12/31/19.
The Fund's 4Q 2021 historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
as of 05/31/22
Year | Baron International Growth Fund | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index |
---|---|---|---|
2021 | 9.88% | 7.82% | 5.97% |
2020 | 30.83% | 10.65% | 22.40% |
2019 | 29.39% | 21.51% | 26.98% |
2018 | -17.68% | -14.20% | -14.96% |
2017 | 37.33% | 27.19% | 32.25% |
2016 | 1.35% | 4.50% | 0.06% |
2015 | 1.48% | -5.66% | -0.26% |
2014 | -2.07% | -3.87% | -2.77% |
2013 | 21.89% | 15.29% | 15.85% |
2012 | 18.17% | 16.83% | 16.69% |
2011 | -16.13% | -13.71% | -14.66% |
2010 | 24.54% | 11.15% | 15.90% |
2009 | 44.89% | 41.45% | 40.90% |
1Not annualized.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
Expense ratios are based on fiscal year ended 12/31/19.
The Fund's 4Q 2021 historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
Record Date | Ex Date | Payable Date | Income | Return of Capital | Short-Term Capital Gain | Long-Term Capital Gain | Total | Re-Invest NAV | Calendar-Yr Return |
---|---|---|---|---|---|---|---|---|---|
11/22/2021 | 11/23/2021 | 11/24/2021 | $0.6784 | $0.0000 | $0.0000 | $1.1180 | $1.7964 | $33.55 | 9.88% |
09/22/2021 | 09/23/2021 | 09/24/2021 | $0.0303 | $0.0000 | $0.0000 | $0.0000 | $0.0303 | $36.93 | 9.88% |
11/23/2020 | 11/24/2020 | 11/25/2020 | $0.0326 | $0.0000 | $0.0000 | $0.0000 | $0.0326 | $30.66 | 30.83% |
09/23/2020 | 09/24/2020 | 09/25/2020 | $0.0059 | $0.0000 | $0.0000 | $0.0000 | $0.0059 | $26.83 | 30.83% |
11/25/2019 | 11/26/2019 | 11/27/2019 | $0.0531 | $0.0000 | $0.0000 | $0.0000 | $0.0531 | $24.08 | |
09/26/2019 | 09/27/2019 | 09/30/2019 | $0.0154 | $0.0000 | $0.0000 | $0.0067 | $0.0221 | $22.80 | |
11/28/2018 | 11/29/2018 | 11/30/2018 | $0.0000 | $0.0000 | $0.0000 | $0.5769 | $0.5769 | $20.66 | -17.68% |
09/24/2018 | 09/25/2018 | 09/26/2018 | $0.0000 | $0.0000 | $0.0514 | $0.0486 | $0.1000 | $23.51 | -17.68% |
11/27/2017 | 11/28/2017 | 11/29/2017 | $0.0000 | $0.0000 | $0.0000 | $0.7448 | $0.7448 | $23.58 | 37.33% |
09/27/2017 | 09/28/2017 | 09/29/2017 | $0.0000 | $0.0000 | $0.0000 | $0.1007 | $0.1007 | $23.06 | 37.33% |
11/28/2016 | 11/29/2016 | 11/30/2016 | $0.0000 | $0.0000 | $0.0000 | $0.1582 | $0.1582 | $18.48 | 1.35% |
10/05/2016 | 10/06/2016 | 10/07/2016 | $0.0100 | $0.0000 | $0.0000 | $0.0006 | $0.0106 | $19.62 | 1.35% |
12/02/2015 | 12/03/2015 | 12/04/2015 | $0.1280 | $0.0000 | $0.0000 | $0.0092 | $0.1372 | $18.43 | 1.48% |
09/23/2015 | 09/24/2015 | 09/25/2015 | $0.0305 | $0.0000 | $0.0000 | $0.0193 | $0.0498 | $17.44 | 1.48% |
12/01/2014 | 12/02/2014 | 12/03/2014 | $0.0000 | $0.0000 | $0.0000 | $0.3885 | $0.3885 | $18.43 | -2.07% |
09/22/2014 | 09/23/2014 | 09/24/2014 | $0.0400 | $0.0000 | $0.0000 | $0.1491 | $0.1891 | $18.90 | -2.07% |
09/25/2013 | 09/26/2013 | 09/27/2013 | $0.0014 | $0.0000 | $0.0000 | $0.0000 | $0.0014 | $18.59 | 21.89% |
09/24/2012 | 09/25/2012 | 09/26/2012 | $0.0270 | $0.0000 | $0.0000 | $0.0000 | $0.0270 | $15.36 | 18.17% |
11/28/2011 | 11/29/2011 | 11/30/2011 | $0.0000 | $0.0000 | $0.0000 | $0.9570 | $0.9570 | $13.38 | -16.13% |
09/07/2011 | 09/08/2011 | 09/09/2011 | $0.0900 | $0.0000 | $0.0540 | $0.2440 | $0.3880 | $15.20 | -16.13% |
09/27/2010 | 09/28/2010 | 09/29/2010 | $0.0000 | $0.0000 | $0.2110 | $0.0000 | $0.2110 | $15.44 | 24.54% |
12/28/2009 | 12/29/2009 | 12/30/2009 | $0.0000 | $0.0000 | $0.3600 | $0.0000 | $0.3600 | $14.17 | 44.89% |
as of 03/31/22
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 18.69 | 16.73 | 14.68 |
Sharpe Ratio | 0.54 | 0.55 | 0.53 |
Alpha (%) | 3.21 | 3.28 | 3.10 |
Beta | 1.02 | 1.04 | 0.96 |
R-Squared (%) | 85.14 | 85.27 | 82.88 |
Tracking Error (%) | 7.21 | 6.44 | 6.10 |
Information Ratio | 0.46 | 0.54 | 0.47 |
Upside Capture (%) | 108.78 | 109.30 | 100.55 |
Downside Capture (%) | 96.16 | 93.65 | 84.15 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron International Growth Fund's(BINIX) benchmark (MSCI ACWI ex USA Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
NAV | $24.24 |
---|---|
Daily Change ($) | -$0.09 |
Daily Change (%) | -$0.09 |
MTD | -7.97% |
QTD | -16.18% |
YTD | -28.45% |
BINIX - Baron International Growth Fund - I | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index | |
---|---|---|---|
QTD1 | -8.92% | -5.61% | -8.41% |
YTD1 | -22.26% | -10.74% | -18.23% |
1 Year | -22.01% | -12.41% | -18.73% |
3 Years | 8.09% | 6.49% | 7.05% |
5 Years | 6.62% | 4.42% | 5.26% |
10 Years | 8.62% | 6.39% | 7.21% |
Since Inception | 9.99% | 6.89% | 7.89% |
Expense Ratio2 - Gross | 0.96% | ||
Expense Ratio2 - Net | 0.95% |
*As of 05/31/22
*Annualized as of 05/31/22
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/19.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
BINIX - Baron International Growth Fund - I | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index | |
---|---|---|---|
YTD1 | -14.64% | -5.44% | -10.72% |
1 Year | -8.35% | -1.48% | -5.75% |
3 Years | 10.80% | 7.51% | 9.43% |
5 Years | 10.23% | 6.76% | 8.67% |
10 Years | 8.42% | 5.55% | 6.84% |
Since Inception | 10.91% | 7.45% | 8.71% |
Expense Ratio2 - Gross | 1.01% | ||
Expense Ratio2 - Net | 0.95% |
*As of 03/31/22
*Annualized as of 05/31/22
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/19.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
The Fund's 4Q 2021 historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
as of 03/31/22
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 18.69 | 16.73 | 14.68 |
Sharpe Ratio | 0.54 | 0.55 | 0.53 |
Alpha (%) | 3.21 | 3.28 | 3.10 |
Beta | 1.02 | 1.04 | 0.96 |
R-Squared (%) | 85.14 | 85.27 | 82.88 |
Tracking Error (%) | 7.21 | 6.44 | 6.10 |
Information Ratio | 0.46 | 0.54 | 0.47 |
Upside Capture (%) | 108.78 | 109.30 | 100.55 |
Downside Capture (%) | 96.16 | 93.65 | 84.15 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron International Growth Fund's(BINIX) benchmark (MSCI ACWI ex USA Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
as of 05/31/22
Year | Baron International Growth Fund | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index |
---|---|---|---|
2021 | 9.88% | 7.82% | 5.97% |
2020 | 30.83% | 10.65% | 22.40% |
2019 | 29.39% | 21.51% | 26.98% |
2018 | -17.68% | -14.20% | -14.96% |
2017 | 37.33% | 27.19% | 32.25% |
2016 | 1.35% | 4.50% | 0.06% |
2015 | 1.48% | -5.66% | -0.26% |
2014 | -2.07% | -3.87% | -2.77% |
2013 | 21.89% | 15.29% | 15.85% |
2012 | 18.17% | 16.83% | 16.69% |
2011 | -16.13% | -13.71% | -14.66% |
2010 | 24.54% | 11.15% | 15.90% |
2009 | 44.89% | 41.45% | 40.90% |
1Not annualized.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2032, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
Expense ratios are based on fiscal year ended 12/31/19.
The Fund's 4Q 2021 historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
Record Date | 11/22/2021 | 09/22/2021 | 11/23/2020 | 09/23/2020 | 11/25/2019 | 09/26/2019 | 11/28/2018 | 09/24/2018 | 11/27/2017 | 09/27/2017 | 11/28/2016 | 10/05/2016 | 12/02/2015 | 09/23/2015 | 12/01/2014 | 09/22/2014 | 09/25/2013 | 09/24/2012 | 11/28/2011 | 09/07/2011 | 09/27/2010 | 12/28/2009 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ex Date | 11/23/2021 | 09/23/2021 | 11/24/2020 | 09/24/2020 | 11/26/2019 | 09/27/2019 | 11/29/2018 | 09/25/2018 | 11/28/2017 | 09/28/2017 | 11/29/2016 | 10/06/2016 | 12/03/2015 | 09/24/2015 | 12/02/2014 | 09/23/2014 | 09/26/2013 | 09/25/2012 | 11/29/2011 | 09/08/2011 | 09/28/2010 | 12/29/2009 |
Payable Date | 11/24/2021 | 09/24/2021 | 11/25/2020 | 09/25/2020 | 11/27/2019 | 09/30/2019 | 11/30/2018 | 09/26/2018 | 11/29/2017 | 09/29/2017 | 11/30/2016 | 10/07/2016 | 12/04/2015 | 09/25/2015 | 12/03/2014 | 09/24/2014 | 09/27/2013 | 09/26/2012 | 11/30/2011 | 09/09/2011 | 09/29/2010 | 12/30/2009 |
Income | $0.6784 | $0.0303 | $0.0326 | $0.0059 | $0.0531 | $0.0154 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0100 | $0.1280 | $0.0305 | $0.0000 | $0.0400 | $0.0014 | $0.0270 | $0.0000 | $0.0900 | $0.0000 | $0.0000 |
Return of Capital | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Short-Term Capital Gain | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0514 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0540 | $0.2110 | $0.3600 |
Long-Term Capital Gain | $1.1180 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0067 | $0.5769 | $0.0486 | $0.7448 | $0.1007 | $0.1582 | $0.0006 | $0.0092 | $0.0193 | $0.3885 | $0.1491 | $0.0000 | $0.0000 | $0.9570 | $0.2440 | $0.0000 | $0.0000 |
Total | $1.7964 | $0.0303 | $0.0326 | $0.0059 | $0.0531 | $0.0221 | $0.5769 | $0.1000 | $0.7448 | $0.1007 | $0.1582 | $0.0106 | $0.1372 | $0.0498 | $0.3885 | $0.1891 | $0.0014 | $0.0270 | $0.9570 | $0.3880 | $0.2110 | $0.3600 |
Re-Invest NAV | $33.55 | $36.93 | $30.66 | $26.83 | $24.08 | $22.80 | $20.66 | $23.51 | $23.58 | $23.06 | $18.48 | $19.62 | $18.43 | $17.44 | $18.43 | $18.90 | $18.59 | $15.36 | $13.38 | $15.20 | $15.44 | $14.17 |
Calendar-Yr Return | 9.88% | 9.88% | 30.83% | 30.83% | -17.68% | -17.68% | 37.33% | 37.33% | 1.35% | 1.35% | 1.48% | 1.48% | -2.07% | -2.07% | 21.89% | 18.17% | -16.13% | -16.13% | 24.54% | 44.89% |
as of 03/31/22
Baron International Growth Fund | MSCI ACWI ex USA Index | |
---|---|---|
Net Assets | $632.97 million | |
# of Issuers / % of Net Assets | 109 / 93.2% | |
Turnover (3 Year Average) | 47.27% | |
Active Share | 88.0% | |
Median Market Cap | $15.77 billion | $9.52 billion |
Weighted Average Market Cap | $62.46 billion | $92.27 billion |
EPS Growth (3-5 year forecast) | 16.2% | 13.5% |
Price/Earnings Ratio (trailing 12-month) | 12.1 | 13.3 |
Price/Book Ratio | 2.6 | 1.8 |
Price/Sales Ratio | 2.1 | 1.4 |
The Net Assets include all share classes combined.
Price/Book Ratio and Price/Sales Ratio are calculated using the Weighted Harmonic Average. Source: FactSet PA. Internal valuation metrics may differ.
as of 05/31/22
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
AstraZeneca PLCAstraZeneca PLC (AZN) is a global biopharmaceutical company that, since 2013, has followed a strategy based on pipeline-driven transformation and a focus on three main therapy areas based on its core competencies: oncology, cardiovascular and metabolic diseases, and respiratory illnesses. |
Health Care | 2.4% | |
Linde plcLinde Public Limited Company (LIN GY) is the largest global independent industrial gas operator. The company was formed by the October 2018 merger of Linde and Praxair. |
Materials | 2.4% | |
Arch Capital Group Ltd.Arch Capital Group Ltd. (ACGL) is a Bermuda-based insurance company providing property & casualty insurance, reinsurance, and mortgage insurance. |
Financials | 2.1% | |
Nestle S.A.Nestle S.A. (NESN.SW) is a global consumer packaged food company that manufactures and markets infant formula, pet food, bottled water, confectionary, milk products, ice cream, coffee, frozen food, and other food categories. |
Consumer Staples | 1.9% | |
Glencore PLCGlencore plc. (GLEN LN) is a diversified natural resources company operating in metals, mining, and commodities trading. It is a large producer of key metals for batteries, enabling the electrification of transportation and energy storage. |
Materials | 1.9% | |
Befesa S.A.Befesa S.A. (BFSA GR) is a leading Germany-based environmental services provider with 50% share of its niche market in Europe. The company collects hazardous steel dust and aluminum waste from customers, recycles the steel dust for a fee, and recovers valuable by-products such as zinc. |
Industrials | 1.9% | |
BNP Paribas S.A.BNP Paribas S.A. (BNP.FP) is a French bank with leading positions in France, Belgium, and Italy. It offers retail banking, corporate investment banking, and asset management, among other financial services. BNP has smaller operations throughout Europe, as well as in the U.S., through its subsidiary Bancwest. |
Financials | 1.7% | |
AMG Advanced Metallurgical Group N.V.AMG Advanced Metallurgical Group N.V. (AMG NA) is a European specialty metals and minerals company. AMG applies metallurgical-based technologies to provide solutions for energy and resource conservation in the energy, transportation, infrastructure, and specialty metals, and chemicals industries. |
Materials | 1.7% | |
Waga Energy SA |
Energy | 1.7% | |
argenx SEArgenx SE (ARGX) is a biotechnology company developing antibodies for the treatment of autoimmune disorders and cancer based on the uniquely powerful immune system of llamas. |
Health Care | 1.7% | |
Total |
19.4% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 03/31/22
Name | Sector | % of Net Assets |
---|---|---|
AstraZeneca PLC |
Health Care | 2.1% |
Glencore PLC |
Materials | 2.1% |
AMG Advanced Metallurgical Group N.V. |
Materials | 2.1% |
Befesa S.A. |
Industrials | 2.0% |
Linde plc |
Materials | 2.0% |
Arch Capital Group Ltd. |
Financials | 1.9% |
Nestlé S.A. |
Consumer Staples | 1.8% |
Pernod Ricard SA |
Consumer Staples | 1.7% |
eDreams ODIGEO SA |
Consumer Discretionary | 1.7% |
Waga Energy SA |
Energy | 1.6% |
Constellation Software, Inc. |
Information Technology | 1.6% |
Taiwan Semiconductor Manufacturing Company Ltd.-ADR |
Information Technology | 1.6% |
Keyence Corporation |
Information Technology | 1.6% |
argenx SE ADR |
Health Care | 1.6% |
Future plc |
Communication Services | 1.5% |
BNP Paribas S.A. |
Financials | 1.5% |
Epiroc AB |
Industrials | 1.5% |
Suzano S.A. |
Materials | 1.4% |
Eurofins Scientific SE |
Health Care | 1.4% |
Reliance Industries Limited |
Energy | 1.4% |
Korea Shipbuilding & Offshore Engineering Co., Ltd. |
Industrials | 1.3% |
Koninklijke DSM N.V. |
Materials | 1.3% |
Z Holdings Corporation |
Communication Services | 1.3% |
Grupo México, S.A.B. de C.V. |
Materials | 1.2% |
SYMRISE AG |
Materials | 1.2% |
SMS CO., LTD. |
Industrials | 1.2% |
Recruit Holdings Co., Ltd. |
Industrials | 1.1% |
Industria de Diseno Textil, S.A. |
Consumer Discretionary | 1.1% |
Agnico Eagle Mines Limited |
Materials | 1.1% |
Bajaj Finance Limited |
Financials | 1.1% |
Lloyds Banking Group plc |
Financials | 1.1% |
Watches of Switzerland Group Limited |
Consumer Discretionary | 1.1% |
Stevanato Group S.p.A |
Health Care | 1.0% |
Hyundai Heavy Industries Co., Ltd. |
Industrials | 1.0% |
Renesas Electronics Corporation |
Information Technology | 1.0% |
Clariant AG |
Materials | 1.0% |
B&M European Value Retail S.A. |
Consumer Discretionary | 1.0% |
Agilent Technologies, Inc. |
Health Care | 1.0% |
LVMH Moet Hennessy Louis Vuitton SE |
Consumer Discretionary | 1.0% |
Experian plc |
Industrials | 1.0% |
Alibaba Group Holding Limited - ADR |
Consumer Discretionary | 1.0% |
Endava plc -ADR |
Information Technology | 0.9% |
Cellnex Telecom, S.A. |
Communication Services | 0.9% |
Vivendi SA |
Communication Services | 0.9% |
S4 Capital plc |
Communication Services | 0.9% |
Universal Music Group N.V. |
Communication Services | 0.9% |
Genmab A/S |
Health Care | 0.9% |
Tokyo Electron Limited |
Information Technology | 0.9% |
IGO Limited |
Materials | 0.8% |
Aker Carbon Capture AS |
Industrials | 0.8% |
Dechra Pharmaceuticals PLC |
Health Care | 0.8% |
Credicorp Ltd. |
Financials | 0.8% |
Baidu, Inc. |
Communication Services | 0.7% |
B3 S.A. - Brasil, Bolsa, Balcao |
Financials | 0.7% |
Compagnie Financiere Richemont SA |
Consumer Discretionary | 0.7% |
Tencent Holdings, Ltd. |
Communication Services | 0.7% |
HDFC Bank Limited |
Financials | 0.7% |
Godrej Properties Limited |
Real Estate | 0.7% |
Afya Limited |
Consumer Discretionary | 0.7% |
Meyer Burger Technology Ltd |
Information Technology | 0.7% |
J D Wetherspoon plc |
Consumer Discretionary | 0.7% |
InPost S.A. |
Industrials | 0.7% |
Dino Polska S.A. |
Consumer Staples | 0.6% |
Kingsoft Corporation Ltd. |
Communication Services | 0.6% |
Tenaris S.A. |
Energy | 0.6% |
Tenaris S.A. - ADR |
Energy | 0.6% |
Ceres Power Holdings plc |
Industrials | 0.6% |
Full Truck Alliance Co. Ltd. - ADR |
Industrials | 0.6% |
Estun Automation Co., Ltd. |
Industrials | 0.6% |
China Conch Venture Holdings Ltd. |
Industrials | 0.6% |
MonotaRO Co., Ltd. |
Industrials | 0.6% |
Midea Group Co., Ltd.- A |
Consumer Discretionary | 0.6% |
Max Financial Services Limited |
Financials | 0.5% |
Yum China Holdings Inc. |
Consumer Discretionary | 0.5% |
Newcrest Mining Limited |
Materials | 0.5% |
XP Inc. |
Financials | 0.5% |
CAE Inc. |
Industrials | 0.5% |
Okamoto Industries, Inc. |
Materials | 0.5% |
Nippon Life India Asset Management Limited |
Financials | 0.5% |
NEXTDC Limited |
Information Technology | 0.5% |
Han's Laser Technology Co., Ltd |
Industrials | 0.5% |
Zai Lab Limited -Adr |
Health Care | 0.5% |
AIA Group Limited |
Financials | 0.5% |
Bharti Airtel Limited PP |
Communication Services | 0.5% |
Mister Spex SE |
Consumer Discretionary | 0.4% |
Hapvida Participacoes e Investimentos S.A. |
Health Care | 0.4% |
Spotify Technology S.A. |
Communication Services | 0.4% |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A |
Health Care | 0.4% |
Techtronic Industries Co. Ltd. |
Industrials | 0.4% |
Kingdee International Software Group Co. Ltd. |
Information Technology | 0.4% |
JD.com, Inc. ADR |
Consumer Discretionary | 0.3% |
Wix.com Ltd. |
Information Technology | 0.3% |
JM Financial Limited |
Financials | 0.3% |
Edelweiss Financial Services Limited |
Financials | 0.3% |
Telefonaktiebolaget LM Ericsson - ADR |
Information Technology | 0.3% |
Hua Hong Semiconductor Limited |
Information Technology | 0.3% |
China Tourism Group Duty Free Corporation Limited |
Consumer Discretionary | 0.3% |
Tencent Holdings Limited - ADR |
Communication Services | 0.3% |
WANdisco plc |
Information Technology | 0.3% |
GDS Holdings Limited - ADR |
Information Technology | 0.3% |
China Conch Environment Protection Holdings Limited |
Industrials | 0.3% |
Credit Suisse Group AG |
Financials | 0.3% |
Yonyou Network Technology Co., Ltd. |
Information Technology | 0.3% |
Taboola.com Ltd. |
Communication Services | 0.2% |
Will Semiconductor Co., Ltd. |
Information Technology | 0.2% |
ION Acquisition Corp. 3 Ltd. Cl - A |
Unclassified | 0.2% |
similarweb Ltd. |
Information Technology | 0.2% |
Innovid Corp. - PIPE Share |
Communication Services | 0.2% |
Taboola.com Ltd. - PIPE Shares |
Communication Services | 0.1% |
Innovid Corp. |
Communication Services | 0.1% |
Innovid Corp. - Warrants Exp. 11/30/2026 |
Communication Services | 0.0% |
Taboola.com Ltd. - Warrants Exp. 6/29/2026 |
Communication Services | 0.0% |
JD.com, Inc. |
Consumer Discretionary | 0.0% |
TCS Group Holding PLC-GDR |
Financials | 0.0% |
Novatek PJSC-GDR |
Energy | 0.0% |
Sberbank of Russia PJSC-ADR |
Financials | 0.0% |
As of 05/31/22
As of 05/31/22
Colors of Sub-Industry bars correspond to the GICS sector chart.
As of 05/31/22
Quarterly as of 03/31/22
Top Contributors | Average Weight | Contribution |
---|---|---|
AMG Advanced Metallurgical Group N.V. | 1.70% | 0.47% |
Glencore PLC | 1.85% | 0.41% |
Waga Energy SA | 1.24% | 0.36% |
AstraZeneca PLC | 1.52% | 0.27% |
Grupo Mexico, S.A.B. de C.V. | 0.84% | 0.27% |
Quarterly as of 03/31/22
Top Detractors | Average Weight | Contribution |
---|---|---|
S4 Capital plc | 1.60% | -1.08% |
Future plc | 1.88% | -0.77% |
BNP Paribas S.A. | 2.31% | -0.56% |
Keyence Corporation | 1.74% | -0.52% |
Industria de Diseno Textil, S.A. | 1.22% | -0.46% |
Source: FactSet PA.
10/29/21
Michael Kass, portfolio manager of Baron's Emerging Markets, International Growth, and New Asia Funds, makes the case for why he believes emerging market stocks are poised for outperformance. Click here for the full October 29, 2021, interview on PBS’s “Consuelo Mack’s WealthTrack.”
10/01/20
After a recent interview with portfolio manager Michael Kass, Litman Gregory reaffirmed its conviction in Baron Emerging Markets Fund (BEXIX) and Baron International Growth Fund (BINIX), highlighting Michael’s disciplined long-term approach to growth investing, superior understanding of secular trends and business models, and macro-risk overlay as reasons for their recommendation. Read the full article on Advisor Intelligence.
07/01/18
Litman Gregory's AdvisorIntelligence published a fund update on Baron Emerging Markets Fund and Baron International Growth Fund discussing Portfolio Manager Michael Kass' investment themes and long-term outlook.
03/09/17
Michael Kass, portfolio manager of Baron Emerging Markets Fund and Baron International Growth Fund, featured in the February/March 2017 issue of Morningstar magazine (PDF) discussing the Baron approach to growth investing farther afield.
11/05/16
Barron’s recently convened four veteran emerging market managers – including Michael Kass, Portfolio Manager of Baron Emerging Markets Fund and Baron International Growth Fund – to solicit their views on whether this year’s rally is the start of a new bull market or a prelude to a correction
XBRL Filings | 04/30/20 |
---|---|
SAI | 04/29/22 |
Prospectus | 04/29/22 |
Summary Prospectus | 04/29/22 |
Fact Sheet | 03/31/22 |
Baron Select Funds Semi-Annual Financial Report | 06/30/21 |
Baron Select Funds Annual Financial Report | 12/31/21 |
1Q22 Baron Select Funds NPORT | 03/31/22 |
3Q21 Baron Select Funds NPORT | 09/30/21 |
Investors should consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus and summary prospectuses contain this and other information about the Funds. You may obtain them from the Funds’ distributor, Baron Capital, Inc., by calling 1-800-99BARON or visiting www.BaronFunds.com. Please read them carefully before investing.
Risks: Non-U.S. investments may involve additional risks to those inherent in U.S. investments, including exchange-rate fluctuations, political or economic instability, the imposition of exchange controls, expropriation, limited disclosure and illiquid markets. This may result in greater share price volatility. Securities of small and medium-sized companies may be thinly traded and more difficult to sell. Even though the Fund is diversified, it may establish significant positions where the Adviser has the greatest conviction. This could increase volatility of the Fund's returns.
The Fund may not achieve its objectives.
Definitions (provided by BAMCO, Inc.): The MSCI ACWI ex USA indexes cited are unmanaged, free float-adjusted market capitalization weighted indexes. The MSCI ACWI ex USA Index Net USD measures the equity market performance of large- and mid-cap securities across developed and emerging markets, excluding the United States. The MSCI ACWI ex USA IMI Growth Index Net USD measures the equity market performance of large-, mid- and small-cap growth securities across developed and emerging markets, excluding the United States. The indexes and Baron International Growth Fund include reinvestment of dividends, net of foreign withholding taxes, which positively impact the performance results. The index performance is not Fund performance; one cannot invest directly into an index.
Definitions (provided by BAMCO, Inc.): Standard Deviation: measures the degree to which a fund’s performance has varied from its average performance over a particular time period. The greater the standard deviation, the greater a fund’s volatility (risk). Sharpe Ratio: is a risk-adjusted performance statistic that measures reward per unit of risk. The higher the Sharpe ratio, the better a fund’s risk adjusted performance. Alpha: measures the difference between a fund’s actual returns and its expected performance, given its level of risk as measured by beta. Beta: measures a fund’s sensitivity to market movements. The beta of the market is 1.00 by definition. R-Squared: measures how closely a fund’s performance correlates to the performance of the benchmark index, and thus is a measurement of what portion of its performance can be explained by the performance of the index. Values for R-Squared range from 0 to 100, where 0 indicates no correlation and 100 indicates perfect correlation. Tracking Error: measures how closely a fund’s return follows the benchmark index returns. It is calculated as the annualized standard deviation of the difference between the fund and the index returns. Information Ratio: measures the excess return of a fund divided by the amount of risk the fund takes relative to the benchmark index. The higher the information ratio, the higher the excess return expected of the fund, given the amount of risk involved. Upside Capture: explains how well a fund performs in time periods where the benchmark’s returns are greater than zero. Downside Capture: explains how well a fund performs in time periods where the benchmark’s returns are less than zero
Definitions (provided by Baron Capital, Inc.): EPS Growth Rate (3-5 Year): indicates the long-term forecasted EPS growth of the companies in the portfolio, calculated using the weighted average of the available 3-to-5 year forecasted growth rates for each of the stocks in the portfolio provided by Factset Estimates. The EPS Growth rate does not forecast the Fund’s performance. Price/ Earnings Ratio (trailing 12-months): is a valuation ratio of a company’s current share price compared to its actual earnings per share over the last twelve months. Price/Book Ratio: is a ratio used to compare a company’s stock price to its tangible assets, and it is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share. Price/Sales Ratio: is a valuation ratio of a stock’s price relative to its past performance. It represents the amount an investor is willing to pay for a dollar generated from a particular company’s operations. Price/Sales is calculated by dividing a stock’s current price by its revenue per share for the last 12 months. Weighted Harmonic Average: is a calculation that reduces the impact of extreme observation on the aggregate calculation by weighting them based on their size in the fund. Active Share is a term used to describe the share of a portfolio’s holdings that differ from that portfolio’s benchmark index. It is calculated by comparing the weight of each holding in the Fund to that holding’s weight in the benchmark. Positions with either a positive or negative weighting versus the benchmark have Active Share. An Active Share of 100% implies zero overlap with the benchmark. Active Share was introduced in 2006 in a study by Yale academics, M. Cremers and A. Petajisto, as a measure of active portfolio management.
One year turnover information to the most recent quarter and average market cap (unweighted) is available upon request.
Industry sector or sub-industry group levels are provided from the Global Industry Classification Standard (“GICS”), developed and exclusively owned by MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). All GICS data is provided “as is” with no warranties. The Adviser may have reclassified/classified certain securities in or out of a sub-industry. Such reclassifications are not supported by S&P or MSCI.
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