The Fund invests primarily in emerging market companies of all sizes with significant growth potential. The Fund may invest up to 20% in companies in developed and frontier countries. Diversified.
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IN
The Fund invests primarily in emerging market companies of all sizes with significant growth potential. The Fund may invest up to 20% in companies in developed and frontier countries. Diversified.
As of May 25, 2022
NAV | $13.29 |
---|---|
Daily Change ($) | $0.04 |
Daily Change (%) | 0.30% |
YTD | -24.10% |
Inception Date | 12/31/2010 |
Overall (out of 729 Funds)
Ratings based on risk-adjusted returns as of 04/30/2022
Category:US Fund Diversified Emerging Mkts
Portfolio Manager
years of exp 35
years at baron 15
1Source: FactSet SPAR.
For the period ended 3/31/2022, the Baron Emerging Markets Fund received a 3-Star Overall Morningstar Rating™, 2-Star 3-Year Rating, 2-Star 5-Year Rating, and 4-Star 10-Year Rating. The Morningstar Ratings are based on the Morningstar Risk-Adjusted Return measures of 730, 730, 625, and 352 funds in the category, respectively. This Morningstar Rating is for the Retail 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 05/25/22
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$13.29 | $0.04 | 0.30% | -5.14% | -11.58% | -24.10% |
as of 03/31/22
YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|
Gross | Net | |||||||
BEXFX - Baron Emerging Markets Fund | -14.16% | -19.36% | 3.19% | 4.42% | 5.04% | 4.04% | 1.35% | 1.35% |
MSCI EM Index | -6.97% | -11.37% | 4.94% | 5.98% | 3.36% | 2.32% | ||
MSCI EM IMI Growth Index | -9.86% | -15.90% | 7.28% | 7.62% | 5.00% | 3.57% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2020
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.
as of 03/31/22
YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|
Gross | Net | |||||||
BEXFX - Baron Emerging Markets Fund | -14.16% | -19.36% | 3.19% | 4.42% | 5.04% | 4.04% | 1.35% | 1.35% |
MSCI EM Index | -6.97% | -11.37% | 4.94% | 5.98% | 3.36% | 2.32% | ||
MSCI EM IMI Growth Index | -9.86% | -15.90% | 7.28% | 7.62% | 5.00% | 3.57% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2020
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.
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.
Expense ratios are as of the fiscal year ended 12/31/2020
as of 03/31/22
Year | Baron Emerging Markets Fund | MSCI EM Index | MSCI EM IMI Growth Index |
---|---|---|---|
2021 | -6.26% | -2.54% | -5.50% |
2020 | 28.87% | 18.31% | 30.75% |
2019 | 18.48% | 18.42% | 23.60% |
2018 | -18.67% | -14.58% | -18.44% |
2017 | 40.34% | 37.28% | 44.70% |
2016 | 3.75% | 11.19% | 5.84% |
2015 | -11.16% | -14.92% | -10.51% |
2014 | 3.47% | -2.19% | -0.15% |
2013 | 14.71% | -2.60% | 0.10% |
2012 | 22.98% | 18.22% | 20.72% |
2011 | -17.20% | -18.42% | -20.04% |
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.
Expense ratios are as of the fiscal year ended 12/31/2020
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 | $0.2791 | $0.0000 | $0.0000 | $0.0000 | $0.2791 | $17.89 | -6.26% |
11/25/2019 | 11/26/2019 | 11/27/2019 | $0.0252 | $0.0021 | $0.0000 | $0.0000 | $0.0273 | $14.04 | 18.48% |
09/26/2019 | 09/27/2019 | 09/30/2019 | $0.0023 | $0.0000 | $0.0000 | $0.0000 | $0.0023 | $13.46 | 18.48% |
11/28/2018 | 11/29/2018 | 11/30/2018 | $0.0178 | $0.0000 | $0.0000 | $0.0000 | $0.0178 | $12.83 | -18.67% |
11/27/2017 | 11/28/2017 | 11/29/2017 | $0.0297 | $0.0014 | $0.0000 | $0.0000 | $0.0311 | $14.97 | 40.34% |
09/27/2017 | 09/28/2017 | 09/29/2017 | $0.0047 | $0.0000 | $0.0000 | $0.0000 | $0.0047 | $14.32 | 40.34% |
11/28/2016 | 11/29/2016 | 11/30/2016 | $0.0152 | $0.0000 | $0.0000 | $0.0000 | $0.0152 | $11.09 | 3.75% |
10/05/2016 | 10/06/2016 | 10/07/2016 | $0.0017 | $0.0000 | $0.0000 | $0.0000 | $0.0017 | $12.07 | 3.75% |
12/02/2015 | 12/03/2015 | 12/04/2015 | $0.0113 | $0.0000 | $0.0000 | $0.0000 | $0.0113 | $10.69 | -11.16% |
12/01/2014 | 12/02/2014 | 12/03/2014 | $0.0308 | $0.0000 | $0.0000 | $0.0000 | $0.0308 | $12.16 | 3.47% |
11/28/2012 | 11/29/2012 | 11/30/2012 | $0.1200 | $0.0000 | $0.0000 | $0.0000 | $0.1200 | $9.82 | 22.98% |
as of 03/31/22
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 20.66 | 17.82 | 15.59 |
Sharpe Ratio | 0.12 | 0.19 | 0.28 |
Alpha (%) | -1.73 | -1.41 | 2.05 |
Beta | 1.09 | 1.02 | 0.90 |
R-Squared (%) | 92.34 | 90.82 | 85.06 |
Tracking Error (%) | 5.93 | 5.41 | 6.22 |
Information Ratio | -0.29 | -0.29 | 0.27 |
Upside Capture (%) | 101.98 | 97.22 | 92.26 |
Downside Capture (%) | 109.71 | 104.02 | 83.17 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Emerging Markets Fund's(BEXFX) benchmark (MSCI EM Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
NAV | $13.29 |
---|---|
Daily Change ($) | $0.04 |
Daily Change (%) | $0.04 |
MTD | -5.14% |
QTD | -11.58% |
YTD | -24.10% |
BEXFX - Baron Emerging Markets Fund | MSCI EM Index | MSCI EM IMI Growth Index | |
---|---|---|---|
YTD1 | -14.16% | -6.97% | -9.86% |
1 Year | -19.36% | -11.37% | -15.90% |
3 Years | 3.19% | 4.94% | 7.28% |
5 Years | 4.42% | 5.98% | 7.62% |
10 Years | 5.04% | 3.36% | 5.00% |
Since Inception | 4.04% | 2.32% | 3.57% |
Expense Ratio2 - Gross | 1.35% | ||
Expense Ratio2 - Net | 1.35% |
*As of 03/31/22
*Annualized as of 03/31/22
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2020
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.
BEXFX - Baron Emerging Markets Fund | MSCI EM Index | MSCI EM IMI Growth Index | |
---|---|---|---|
YTD1 | -14.16% | -6.97% | -9.86% |
1 Year | -19.36% | -11.37% | -15.90% |
3 Years | 3.19% | 4.94% | 7.28% |
5 Years | 4.42% | 5.98% | 7.62% |
10 Years | 5.04% | 3.36% | 5.00% |
Since Inception | 4.04% | 2.32% | 3.57% |
Expense Ratio2 - Gross | 1.35% | ||
Expense Ratio2 - Net | 1.35% |
*As of 03/31/22
*Annualized as of 03/31/22
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2020
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.
as of 03/31/22
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 20.66 | 17.82 | 15.59 |
Sharpe Ratio | 0.12 | 0.19 | 0.28 |
Alpha (%) | -1.73 | -1.41 | 2.05 |
Beta | 1.09 | 1.02 | 0.90 |
R-Squared (%) | 92.34 | 90.82 | 85.06 |
Tracking Error (%) | 5.93 | 5.41 | 6.22 |
Information Ratio | -0.29 | -0.29 | 0.27 |
Upside Capture (%) | 101.98 | 97.22 | 92.26 |
Downside Capture (%) | 109.71 | 104.02 | 83.17 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Emerging Markets Fund's(BEXFX) benchmark (MSCI EM Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
as of 03/31/22
Year | Baron Emerging Markets Fund | MSCI EM Index | MSCI EM IMI Growth Index |
---|---|---|---|
2021 | -6.26% | -2.54% | -5.50% |
2020 | 28.87% | 18.31% | 30.75% |
2019 | 18.48% | 18.42% | 23.60% |
2018 | -18.67% | -14.58% | -18.44% |
2017 | 40.34% | 37.28% | 44.70% |
2016 | 3.75% | 11.19% | 5.84% |
2015 | -11.16% | -14.92% | -10.51% |
2014 | 3.47% | -2.19% | -0.15% |
2013 | 14.71% | -2.60% | 0.10% |
2012 | 22.98% | 18.22% | 20.72% |
2011 | -17.20% | -18.42% | -20.04% |
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.
Expense ratios are as of the fiscal year ended 12/31/2020
Record Date | 11/22/2021 | 11/25/2019 | 09/26/2019 | 11/28/2018 | 11/27/2017 | 09/27/2017 | 11/28/2016 | 10/05/2016 | 12/02/2015 | 12/01/2014 | 11/28/2012 |
---|---|---|---|---|---|---|---|---|---|---|---|
Ex Date | 11/23/2021 | 11/26/2019 | 09/27/2019 | 11/29/2018 | 11/28/2017 | 09/28/2017 | 11/29/2016 | 10/06/2016 | 12/03/2015 | 12/02/2014 | 11/29/2012 |
Payable Date | 11/24/2021 | 11/27/2019 | 09/30/2019 | 11/30/2018 | 11/29/2017 | 09/29/2017 | 11/30/2016 | 10/07/2016 | 12/04/2015 | 12/03/2014 | 11/30/2012 |
Income | $0.2791 | $0.0252 | $0.0023 | $0.0178 | $0.0297 | $0.0047 | $0.0152 | $0.0017 | $0.0113 | $0.0308 | $0.1200 |
Return of Capital | $0.0000 | $0.0021 | $0.0000 | $0.0000 | $0.0014 | $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 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Long-Term Capital Gain | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Total | $0.2791 | $0.0273 | $0.0023 | $0.0178 | $0.0311 | $0.0047 | $0.0152 | $0.0017 | $0.0113 | $0.0308 | $0.1200 |
Re-Invest NAV | $17.89 | $14.04 | $13.46 | $12.83 | $14.97 | $14.32 | $11.09 | $12.07 | $10.69 | $12.16 | $9.82 |
Calendar-Yr Return | -6.26% | 18.48% | 18.48% | -18.67% | 40.34% | 40.34% | 3.75% | 3.75% | -11.16% | 3.47% | 22.98% |
as of 03/31/22
Baron Emerging Markets Fund | MSCI EM Index | |
---|---|---|
Net Assets | $7.65 billion | |
# of Issuers / % of Net Assets | 102 / 95.4% | |
Turnover (3 Year Average) | 48.15% | |
Active Share | 75.5% | |
Median Market Cap | $10.05 billion | $7.37 billion |
Weighted Average Market Cap | $96.56 billion | $121.48 billion |
EPS Growth (3-5 year forecast) | 15.8% | 16.6% |
Price/Earnings Ratio (trailing 12-month) | 18.3 | 12.3 |
Price/Book Ratio | 2.7 | 2.0 |
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 04/30/22
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
Taiwan Semiconductor Manufacturing Company Ltd.Taiwan Semiconductor Manufacturing Company Ltd. (TSMC) is the world's largest independent semiconductor foundry, manufacturing chips on behalf of other companies. |
Information Technology | 4.6% | |
Tencent Holdings LimitedTencent Holdings Limited (700 HK) is a leading internet service company and the top game developer in China. Its primary platforms include QQ for instant messaging, WeChat for mobile messaging, and Qzone for social networking. |
Communication Services | 3.8% | |
Samsung Electronics Co., Ltd.Samsung Electronics Co., Ltd. (005930 KS) is a Korean technology conglomerate known for its leadership in consumer electronics and semiconductor manufacturing. |
Information Technology | 3.6% | |
Reliance Industries LimitedReliance Industries Limited (RIL IN) is India's leading conglomerate, with business interests that include oil refining, petrochemicals, media, telecommunications, and retail. |
Energy | 2.8% | |
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 | 2.5% | |
Alibaba Group Holding LimitedAlibaba Group Holding Limited (BABA) is the largest e-commerce company in the world. Alibaba owns and operates the two largest online shopping platforms in China, Taobao and Tmall, as well as a 33% stake in Ant Financial, which is the country's dominant payments platform. |
Consumer Discretionary | 2.4% | |
Bajaj Finance LimitedBajaj Finance Ltd. (BAF.IN) is a leading non-banking financial corporation in India. It offers various financial products and services including housing loans, consumer durables financing, small- and medium-sized enterprise credit, and rural loans. |
Financials | 2.1% | |
Korea Shipbuilding & Offshore Engineering Co., Ltd.Korea Shipbuilding and Offshore Engineering Co., Ltd. (009540 KS) is the largest shipbuilder in the world. It is also consolidating the industry with its 2020 acquisition of Daewoo Shipbuilding. |
Industrials | 1.9% | |
Suzano S.A. |
Materials | 1.8% | |
Wal-Mart de Mexico, S.A.B. de C.V. |
Consumer Staples | 1.7% | |
Total |
27.2% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 03/31/22
Name | Sector | % of Net Assets |
---|---|---|
Taiwan Semiconductor Manufacturing Company Ltd.-ADR |
Information Technology | 5.2% |
Samsung Electronics Co., Ltd. |
Information Technology | 3.7% |
Tencent Holdings, Ltd. |
Communication Services | 3.2% |
Glencore PLC |
Materials | 3.1% |
Alibaba Group Holding Limited - ADR |
Consumer Discretionary | 2.7% |
Reliance Industries Limited |
Energy | 2.5% |
Bajaj Finance Limited |
Financials | 2.2% |
Suzano S.A. |
Materials | 1.9% |
Wal-Mart de México, S.A.B. de C.V. - Cl V |
Consumer Staples | 1.8% |
Korea Shipbuilding & Offshore Engineering Co., Ltd. |
Industrials | 1.8% |
Grupo México, S.A.B. de C.V. |
Materials | 1.5% |
China Mengniu Dairy Co. Ltd. |
Consumer Staples | 1.4% |
PT Bank Rakyat Indonesia (Persero) Tbk |
Financials | 1.4% |
China Conch Venture Holdings Ltd. |
Industrials | 1.4% |
Bharti Airtel Limited |
Communication Services | 1.4% |
Han's Laser Technology Co., Ltd |
Industrials | 1.3% |
Baidu, Inc. |
Communication Services | 1.3% |
Midea Group Co., Ltd.- A |
Consumer Discretionary | 1.3% |
Localiza Rent a Car S.A. |
Industrials | 1.2% |
Credicorp Ltd. |
Financials | 1.1% |
Divi's Laboratories Ltd. |
Health Care | 1.1% |
SBI Life Insurance Company Limited |
Financials | 1.1% |
Delta Electronics, Inc. |
Information Technology | 1.1% |
Tata Communications Limited |
Communication Services | 1.1% |
HDFC Bank Limited |
Financials | 1.1% |
Estun Automation Co., Ltd. |
Industrials | 1.1% |
Kingsoft Corporation Ltd. |
Communication Services | 1.0% |
Hyundai Heavy Industries Co., Ltd. |
Industrials | 1.0% |
ICICI Bank Limited |
Financials | 1.0% |
Keyence Corporation |
Information Technology | 1.0% |
Yunnan Baiyao Group Co., Ltd. |
Health Care | 1.0% |
Max Financial Services Limited |
Financials | 1.0% |
BDO Unibank, Inc. |
Financials | 1.0% |
Shenzhou International Group Holdings Ltd. |
Consumer Discretionary | 0.9% |
Gold Fields Limited |
Materials | 0.9% |
B3 S.A. - Brasil, Bolsa, Balcao |
Financials | 0.9% |
JD.com, Inc. ADR |
Consumer Discretionary | 0.9% |
Budweiser Brewing Company APAC Limited |
Consumer Staples | 0.9% |
Think & Learn Private Limited - Series F |
Consumer Discretionary | 0.9% |
Muthoot Finance Ltd. |
Financials | 0.9% |
Bundl Technologies Private Limited, Series K |
Consumer Discretionary | 0.9% |
Full Truck Alliance Co. Ltd. - ADR |
Industrials | 0.9% |
Galaxy Entertainment Group Limited |
Consumer Discretionary | 0.8% |
Hangzhou Tigermed Consulting Co., Ltd. |
Health Care | 0.8% |
Nippon Life India Asset Management Limited |
Financials | 0.8% |
AIA Group Limited |
Financials | 0.8% |
Godrej Properties Limited |
Real Estate | 0.8% |
Techtronic Industries Co. Ltd. |
Industrials | 0.8% |
Yum China Holdings Inc. |
Consumer Discretionary | 0.8% |
Ayala Land, Inc. |
Real Estate | 0.8% |
Kingdee International Software Group Co. Ltd. |
Information Technology | 0.7% |
Zai Lab Limited -Adr |
Health Care | 0.7% |
China Tourism Group Duty Free Corporation Limited |
Consumer Discretionary | 0.7% |
Aarti Industries Limited |
Materials | 0.7% |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A |
Health Care | 0.7% |
XP Inc. |
Financials | 0.7% |
ICICI Lombard General Insurance Company Limited |
Financials | 0.7% |
Hapvida Participacoes e Investimentos S.A. |
Health Care | 0.7% |
Tenaris S.A. |
Energy | 0.7% |
China Conch Environment Protection Holdings Limited |
Industrials | 0.7% |
Beijing Oriental Yuhong Waterproof Technology Co., Ltd. |
Materials | 0.7% |
Venustech Group Inc. - Class A |
Information Technology | 0.7% |
InPost S.A. |
Industrials | 0.7% |
NARI Technology Co. Ltd. |
Industrials | 0.7% |
Zhejiang Dingli Machinery Co., Ltd. |
Industrials | 0.7% |
China Molybdenum Co., Ltd. - Class A |
Materials | 0.6% |
Yantai Jereh Oilfield Services Group Co., Ltd. |
Energy | 0.6% |
Korea Aerospace Industries, LTD. |
Industrials | 0.6% |
Tenaris S.A. - ADR |
Energy | 0.6% |
Hua Hong Semiconductor Limited |
Information Technology | 0.6% |
Titan Co. Ltd. |
Consumer Discretionary | 0.6% |
Tata Consumer Products Limited |
Consumer Staples | 0.6% |
Jubilant FoodWorks Limited |
Consumer Discretionary | 0.5% |
JM Financial Limited |
Financials | 0.5% |
Housing Development Finance Corporation Limited |
Financials | 0.5% |
Asian Paints Limited |
Materials | 0.5% |
Americanas S.A. |
Consumer Discretionary | 0.5% |
WuXi Biologics Cayman Inc. |
Health Care | 0.5% |
Pine Labs Pte. Ltd. Series J PFD |
Information Technology | 0.4% |
Godrej Consumer Products Limited |
Consumer Staples | 0.4% |
Yum China Holdings Inc. |
Consumer Discretionary | 0.4% |
Will Semiconductor Co., Ltd. |
Information Technology | 0.4% |
Yonyou Network Technology Co., Ltd. |
Information Technology | 0.4% |
Aeris Industria Comercio Equipamentos Geracao Energia SA |
Industrials | 0.4% |
PT Merdeka Copper Gold Tbk |
Materials | 0.4% |
Gold Fields Limited |
Materials | 0.4% |
StoneCo Ltd. |
Information Technology | 0.4% |
GDS Holdings Limited - ADR |
Information Technology | 0.4% |
Afya Limited |
Consumer Discretionary | 0.4% |
Glodon Company Limited |
Information Technology | 0.4% |
Edelweiss Financial Services Limited |
Financials | 0.4% |
Banco Inter S.A. |
Financials | 0.3% |
Acm Research Inc-Class a |
Information Technology | 0.3% |
Tencent Holdings Limited - ADR |
Communication Services | 0.3% |
Network International Holdings Ltd. |
Information Technology | 0.3% |
Azul S.A. |
Industrials | 0.2% |
Codere Online Luxembourg, S.A. - Forward Shares |
Consumer Discretionary | 0.2% |
China Molybdenum Co., Ltd. - Class H |
Materials | 0.2% |
Gds Holdings Limited - Local Cl A |
Information Technology | 0.2% |
Hong Kong Exchanges and Clearing Limited |
Financials | 0.2% |
Pine Labs Pte. Ltd.- Series 1 PFD |
Information Technology | 0.2% |
Pine Labs Pte. Ltd. Series B PFD |
Information Technology | 0.1% |
Pine Labs Pte. Ltd. Series C PFD |
Information Technology | 0.1% |
JD.com, Inc. |
Consumer Discretionary | 0.1% |
Bharti Airtel Limited PP |
Communication Services | 0.1% |
Azul S.A. |
Industrials | 0.1% |
Shanghai Henlius Biotech |
Health Care | 0.1% |
Novatek PJSC-GDR |
Energy | 0.0% |
TCS Group Holding PLC-GDR |
Financials | 0.0% |
Sberbank of Russia PJSC-ADR |
Financials | 0.0% |
Yandex N.V. |
Communication Services | 0.0% |
Codere Online Luxembourg, S.A. - Founders Shares |
Consumer Discretionary | 0.0% |
Codere Online Luxembourg, S.A. - Warrants Restricted Exp. 11/30/2026 |
Consumer Discretionary | 0.0% |
Codere Online Luxembourg, S.A. - Private Shares |
Consumer Discretionary | 0.0% |
Americanas SA RCP |
Consumer Discretionary | 0.0% |
Pine Labs Pte. Ltd. Series C1 PFD |
Information Technology | 0.0% |
Pine Labs Pte. Ltd. Series D PFD |
Information Technology | 0.0% |
Pine Labs Pte. Ltd. Series A PFD |
Information Technology | 0.0% |
Fix Price Group Ltd. - GDR |
Consumer Discretionary | 0.0% |
Fix Price Group Ltd. |
Consumer Discretionary | 0.0% |
Pine Labs Pte. Ltd.Series B2 PFD |
Information Technology | 0.0% |
PJSC Polyus |
Materials | 0.0% |
PJSC Polyus |
Materials | 0.0% |
Ozon Holdings PLC - ADS Shares |
Consumer Discretionary | 0.0% |
As of 04/30/22
As of 04/30/22
Colors of Sub-Industry bars correspond to the GICS sector chart.
As of 04/30/22
Quarterly as of 03/31/22
Top Contributors | Average Weight | Contribution |
---|---|---|
Glencore PLC | 2.64% | 0.57% |
Grupo Mexico, S.A.B. de C.V. | 1.06% | 0.34% |
Gold Fields Limited | 0.68% | 0.32% |
Localiza Rent a Car S.A. | 0.97% | 0.29% |
Credicorp Ltd. | 0.85% | 0.26% |
Quarterly as of 03/31/22
Top Detractors | Average Weight | Contribution |
---|---|---|
Novatek PJSC | 0.85% | -1.19% |
Sberbank of Russia PJSC | 0.67% | -0.90% |
Tencent Holdings Limited | 3.88% | -0.78% |
Taiwan Semiconductor Manufacturing Company Ltd. | 5.33% | -0.66% |
PJSC Polyus | 0.42% | -0.64% |
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.”
05/16/21
Pine Labs is a dominant merchant commerce platform that is enabling digital payments and “Buy Now Pay Later” options in India and Southeast Asia. We are excited to partner with Amrish Rau and the Pine Labs team as they embark on their next growth phase. Read the full article on TechCrunch.
01/23/21
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.
05/15/20
We are pleased to announce that Anuj Aggarwal has been appointed to the position of Assistant Portfolio Manager of Baron Emerging Markets Fund, working with Portfolio Manager Michael Kass. Anuj joined Baron in 2012 to support our emerging markets and international research efforts, and has a total of 12 years of research experience. He will continue to conduct equity research in his expanded role.
01/23/19
Michael Kass, portfolio manager of Baron Emerging Markets Fund and Baron International Growth Fund, sat down with Litman Gregory to discuss his perspective on foreign equity markets.
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.
04/23/18
In the May issue of Kiplinger's Personal Finance, Baron Emerging Markets Fund was included in the 'Kiplinger 25,' an annual selection of the magazine's "favorite actively-managed no-load funds." The Fund was added with a 10% allocation to the magazine's recommended model portfolio for retirement investors. You can view the model portfolio at www.kiplinger.com.
The information contained in this document is distributed for informational purposes only and should not be considered investment advice or recommendations of any security or Fund. Baron Capital does not guarantee its accuracy, completeness or fairness.
12/07/17
The January 2018 cover story of Kiplinger’s Personal Finance magazine recommended Baron Emerging Markets Fund, managed by portfolio manager Michael Kass. Read the sidebar (“Investors, Find Bargains Overseas in 2018”) at www.kiplinger.com. (Subscription required to access).
11/07/17
The cover story of the December issue of Kiplinger's Personal Finance ("3 Best International Mutual Funds to Play the Global Economic Recovery") recommended Baron Emerging Markets Fund for investors looking for exposure to international and/or emerging markets. Read the article at www.kiplinger.com. (Subcription required to access).
SAI | 04/29/22 |
---|---|
XBRL Filings | 04/30/20 |
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 |
3Q21 Baron Select Funds NPORT | 09/30/21 |
1Q21 Baron Select Funds NPORT | 03/31/21 |
Baron Emerging Markets Fund – February 2022 Summary Update | 02/28/22 |
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: In addition to the general stock market risk that securities may fluctuate in value, investments in developing countries may have increased risks due to a greater possibility of: settlement delays; currency and capital controls; interest rate sensitivity; corruption and crime; exchange rate volatility; and inflation or deflation. The Fund invests in companies of all sizes, including small and medium sized companies whose securities may be thinly traded and more difficult to sell during market downturns.
The Fund may not achieve its objectives.
Definitions (provided by BAMCO, Inc.): The MSCI EM (Emerging Markets) Index Net USD is designed to measure equity market performance of large and mid-cap securities across 23 Emerging Markets countries. The MSCI EM (Emerging Markets) IMI Growth Index Net USD is a free float-adjusted market capitalization index designed to measure equity market performance of large, mid and small-cap securities exhibiting overall growth characteristics across 23 Emerging Markets countries. The indexes and the Fund include reinvestment of dividends, net of withholding taxes, which positively impact the performance results. The indexes are unmanaged. 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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Investment Products: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED
BAMCO, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Baron Capital, Inc. is a broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).