The Fund invests mainly in growth companies of all sizes located throughout the world. Diversified.
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IN
The Fund invests mainly in growth companies of all sizes located throughout the world. Diversified.
As of Jun 30, 2022
NAV | $26.97 |
---|---|
Daily Change ($) | -$0.72 |
Daily Change (%) | -2.60% |
YTD | -47.81% |
Inception Date | 4/30/2012 |
Portfolio Manager
years of exp 29
years at baron 11
1Source: FactSet SPAR.
For the period ended 5/31/2022, the Baron Global Advantage Fund received a 2-Star Overall Morningstar Rating™, 1-Star 3-Year Rating, 2-Star 5-Year Rating, and 2-Star 10-Year Rating. The Morningstar Ratings are based on the Morningstar Risk-Adjusted Return measures of 308, 308, 268, and 176 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 06/30/22
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$26.97 | -$0.72 | -2.60% | -8.73% | -32.39% | -47.81% |
as of 05/31/22
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BGAFX - Baron Global Advantage Fund | -25.92% | -42.82% | -43.06% | 5.75% | 11.19% | 12.45% | 11.38% | 1.15% | 1.15% |
MSCI ACWI Index | -7.90% | -12.83% | -6.78% | 11.71% | 9.00% | 10.25% | 9.14% | ||
MSCI ACWI Growth Index | -12.94% | -21.40% | -13.23% | 13.27% | 11.00% | 11.68% | 10.54% |
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.
The Fund's 4Q 2021, 1-, 3- and 5-year 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 | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|
Gross | Net | ||||||
BGAFX - Baron Global Advantage Fund | -22.81% | -20.81% | 16.96% | 19.91% | 15.01% | 1.17% | 1.15% |
MSCI ACWI Index | -5.36% | 7.28% | 13.75% | 11.64% | 10.21% | ||
MSCI ACWI Growth Index | -9.72% | 5.42% | 17.87% | 15.47% | 12.29% |
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.
The Fund's 4Q 2021, 1-, 3- and 5-year 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.
Expense ratios are based on fiscal year ended 12/31/19.
The Fund's 4Q 2021, 1-, 3- and 5-year 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 Global Advantage Fund | MSCI ACWI Index | MSCI ACWI Growth Index |
---|---|---|---|
2021 | 0.66% | 18.54% | 17.10% |
2020 | 79.01% | 16.25% | 33.60% |
2019 | 45.07% | 26.60% | 32.72% |
2018 | -3.89% | -9.42% | -8.13% |
2017 | 49.60% | 23.97% | 30.00% |
2016 | -1.15% | 7.86% | 3.27% |
2015 | -1.72% | -2.36% | 1.55% |
2014 | 5.11% | 4.16% | 5.43% |
2013 | 29.78% | 22.80% | 23.17% |
2012 | 4.10% | 5.00% | 3.52% |
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 based on fiscal year ended 12/31/19.
The Fund's 4Q 2021, 1-, 3- and 5-year 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 |
---|---|---|---|---|---|---|---|---|---|
09/23/2015 | 09/24/2015 | 09/25/2015 | $0.0254 | $0.0000 | $0.0000 | $0.0162 | $0.0416 | $12.56 | |
09/22/2014 | 09/23/2014 | 09/24/2014 | $0.0000 | $0.0000 | $0.0009 | $0.0000 | $0.0009 | $14.20 | 5.11% |
as of 03/31/22
3 Years | 5 Years | Since Inception | |
---|---|---|---|
Standard Deviation (%) | 25.39 | 22.13 | 19.07 |
Sharpe Ratio | 0.64 | 0.85 | 0.76 |
Alpha (%) | 4.26 | 7.91 | 4.20 |
Beta | 1.02 | 1.07 | 1.11 |
R-Squared (%) | 48.31 | 53.94 | 59.01 |
Tracking Error (%) | 18.26 | 15.06 | 12.29 |
Information Ratio | 0.18 | 0.55 | 0.39 |
Upside Capture (%) | 104.40 | 122.07 | 118.58 |
Downside Capture (%) | 91.88 | 90.19 | 99.24 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Global Advantage Fund's(BGAFX) benchmark (MSCI ACWI Growth Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
NAV | $26.97 |
---|---|
Daily Change ($) | -$0.72 |
Daily Change (%) | -$0.72 |
MTD | -8.73% |
QTD | -32.39% |
YTD | -47.81% |
BGAFX - Baron Global Advantage Fund | MSCI ACWI Index | MSCI ACWI Growth Index | |
---|---|---|---|
QTD1 | -25.92% | -7.90% | -12.94% |
YTD1 | -42.82% | -12.83% | -21.40% |
1 Year | -43.06% | -6.78% | -13.23% |
3 Years | 5.75% | 11.71% | 13.27% |
5 Years | 11.19% | 9.00% | 11.00% |
10 Years | 12.45% | 10.25% | 11.68% |
Since Inception | 11.38% | 9.14% | 10.54% |
Expense Ratio2 - Gross | 1.15% | ||
Expense Ratio2 - Net | 1.15% |
*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.
The Fund's 4Q 2021, 1-, 3- and 5-year 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.
BGAFX - Baron Global Advantage Fund | MSCI ACWI Index | MSCI ACWI Growth Index | |
---|---|---|---|
YTD1 | -22.81% | -5.36% | -9.72% |
1 Year | -20.81% | 7.28% | 5.42% |
3 Years | 16.96% | 13.75% | 17.87% |
5 Years | 19.91% | 11.64% | 15.47% |
Since Inception | 15.01% | 10.21% | 12.29% |
Expense Ratio2 - Gross | 1.17% | ||
Expense Ratio2 - Net | 1.15% |
*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.
The Fund's 4Q 2021, 1-, 3- and 5-year 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 | Since Inception | |
---|---|---|---|
Standard Deviation (%) | 25.39 | 22.13 | 19.07 |
Sharpe Ratio | 0.64 | 0.85 | 0.76 |
Alpha (%) | 4.26 | 7.91 | 4.20 |
Beta | 1.02 | 1.07 | 1.11 |
R-Squared (%) | 48.31 | 53.94 | 59.01 |
Tracking Error (%) | 18.26 | 15.06 | 12.29 |
Information Ratio | 0.18 | 0.55 | 0.39 |
Upside Capture (%) | 104.40 | 122.07 | 118.58 |
Downside Capture (%) | 91.88 | 90.19 | 99.24 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Global Advantage Fund's(BGAFX) benchmark (MSCI ACWI Growth Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
as of 05/31/22
Year | Baron Global Advantage Fund | MSCI ACWI Index | MSCI ACWI Growth Index |
---|---|---|---|
2021 | 0.66% | 18.54% | 17.10% |
2020 | 79.01% | 16.25% | 33.60% |
2019 | 45.07% | 26.60% | 32.72% |
2018 | -3.89% | -9.42% | -8.13% |
2017 | 49.60% | 23.97% | 30.00% |
2016 | -1.15% | 7.86% | 3.27% |
2015 | -1.72% | -2.36% | 1.55% |
2014 | 5.11% | 4.16% | 5.43% |
2013 | 29.78% | 22.80% | 23.17% |
2012 | 4.10% | 5.00% | 3.52% |
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 based on fiscal year ended 12/31/19.
The Fund's 4Q 2021, 1-, 3- and 5-year 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 | 09/23/2015 | 09/22/2014 |
---|---|---|
Ex Date | 09/24/2015 | 09/23/2014 |
Payable Date | 09/25/2015 | 09/24/2014 |
Income | $0.0254 | $0.0000 |
Return of Capital | $0.0000 | $0.0000 |
Short-Term Capital Gain | $0.0000 | $0.0009 |
Long-Term Capital Gain | $0.0162 | $0.0000 |
Total | $0.0416 | $0.0009 |
Re-Invest NAV | $12.56 | $14.20 |
Calendar-Yr Return | 5.11% |
as of 03/31/22
Baron Global Advantage Fund | MSCI ACWI Index | |
---|---|---|
Net Assets | $1.73 billion | |
# of Issuers / % of Net Assets | 52 / 99.7% | |
Turnover (3 Year Average) | 17.49% | |
Active Share | 91.4% | |
Median Market Cap | $22.15 billion | $12.14 billion |
Weighted Average Market Cap | $263.08 billion | $415.26 billion |
EPS Growth (3-5 year forecast) | 34.5% | 14.0% |
Price/Earnings Ratio (trailing 12-month) | 33.9 | 17.9 |
Price/Book Ratio | 5.6 | 2.5 |
Price/Sales Ratio | 5.6 | 2.0 |
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 |
---|---|---|---|
Amazon.com, Inc.Amazon.com, Inc. (AMZN) is an e-commerce pioneer, innovator, and market share leader, with relentless focus on providing value and convenience to its customers. It also operates the industry-leading cloud infrastructure business Amazon Web Services. |
Consumer Discretionary | 6.5% | |
Endava plcEndava plc (DAVA) provides consulting and outsourced software development for business customers. |
Information Technology | 6.2% | |
Alphabet Inc.Alphabet Inc. (GOOG) is the world's most dominant online search provider and offers a variety of other services and products including display advertising, Android, Chrome, Google Cloud, Google Maps, Google Play, and YouTube. Its Other Bets segment consists of businesses such as CapitalG, GV, and Verily. |
Communication Services | 5.8% | |
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 | 4.0% | |
Rivian Automotive, Inc.Rivian Automotive, Inc. (RIVN) designs and manufactures electric vehicles (EVs). The company is operating in both the B2C and B2B segments, both sharing a similar underlining architecture. We expect the company to leverage its partners and technology to successfully penetrate the growing EV opportunity. |
Consumer Discretionary | 4.0% | |
CrowdStrike, Inc.CrowdStrike, Inc. (CRWD) is a cloud-architected SaaS cybersecurity vendor offering endpoint security, threat intelligence, and cyberattack response services. |
Information Technology | 3.9% | |
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 | 3.7% | |
MercadoLibre, Inc.MercadoLibre, Inc. (MELI) is the largest e-commerce company in Latin America. The company operates the MercadoLibre e-commerce marketplace, payments solution Mercado Pago, and Mercado Envios, which offers shipping solutions for sellers on the company’s marketplace. |
Consumer Discretionary | 3.6% | |
ZoomInfo Technologies Inc.ZoomInfo Technologies, Inc. (ZI) operates a cloud-based B2B intelligence platform that provides sales teams with data and analytics on millions of companies and over 120 million professionals, enabling salespeople to identify and target prospects, shorten cycles, and increase win rates. |
Communication Services | 3.6% | |
EPAM Systems, Inc.EPAM Systems, Inc. (EPAM) provides consulting and outsourced software development for business customers. |
Information Technology | 3.5% | |
Total |
44.8% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 03/31/22
Name | Sector | % of Net Assets |
---|---|---|
Amazon.com, Inc. |
Consumer Discretionary | 6.0% |
Endava plc -ADR |
Information Technology | 5.6% |
Alphabet Inc. - Cl C |
Communication Services | 5.3% |
MercadoLibre, Inc. |
Consumer Discretionary | 3.8% |
CrowdStrike Holdings, Inc. |
Information Technology | 3.8% |
argenx SE ADR |
Health Care | 3.6% |
ZoomInfo Technologies Inc. |
Communication Services | 3.6% |
Bajaj Finance Limited |
Financials | 3.1% |
Shopify Inc. |
Information Technology | 3.0% |
Snowflake Inc. |
Information Technology | 3.0% |
Rivian Automotive, Inc. |
Consumer Discretionary | 2.8% |
Cloudflare, Inc. |
Information Technology | 2.6% |
EPAM Systems, Inc. |
Information Technology | 2.5% |
Think & Learn Private Limited - Series F |
Consumer Discretionary | 2.5% |
Datadog, Inc. - Class A |
Information Technology | 2.4% |
Veeva Systems Inc. Cl - A |
Health Care | 2.3% |
NVIDIA Corporation |
Information Technology | 2.2% |
Illumina, Inc. |
Health Care | 2.1% |
Twilio Inc. (Class A Shares) |
Information Technology | 2.1% |
Bill.com Holdings, Inc. |
Information Technology | 1.8% |
Adyen N.V. |
Information Technology | 1.8% |
Nuvei Corporation |
Information Technology | 1.8% |
Zscaler Inc |
Information Technology | 1.7% |
Tesla, Inc. |
Consumer Discretionary | 1.6% |
ASML Holding N.V. local |
Information Technology | 1.5% |
Wix.com Ltd. |
Information Technology | 1.4% |
Fiverr International Ltd. |
Consumer Discretionary | 1.4% |
Globant, S.A. |
Information Technology | 1.3% |
Rivian Automotive, Inc. - Series E Common Restricted |
Consumer Discretionary | 1.3% |
DLocal Limited |
Information Technology | 1.3% |
SoFi Technologies Inc - PIPE Shares |
Financials | 1.3% |
Afya Limited |
Consumer Discretionary | 1.2% |
10X Genomics, Inc. |
Health Care | 1.1% |
Coupang, LLC |
Consumer Discretionary | 1.1% |
Meituan Inc. - Class B |
Consumer Discretionary | 1.0% |
Guardant Health, Inc. |
Health Care | 1.0% |
Arrowhead Pharmaceuticals, Inc. |
Health Care | 1.0% |
Sea Limited |
Communication Services | 1.0% |
Okta, Inc. |
Information Technology | 0.9% |
Schrodinger, Inc. |
Health Care | 0.9% |
Innovid Corp. - PIPE Share |
Communication Services | 0.9% |
InPost S.A. |
Industrials | 0.8% |
Sarissa Capital Acquisition Corp. |
Unclassified | 0.8% |
MaxCyte, Inc. - US |
Health Care | 0.8% |
Zai Lab Limited -Adr |
Health Care | 0.8% |
Space Exploration Technologies Corporation - Cl - A |
Industrials | 0.8% |
GDS Holdings Limited - ADR |
Information Technology | 0.7% |
Farmers Business Network, Inc., Series F |
Materials | 0.7% |
GM Cruise Holdings LLC - Class G Preferred |
Industrials | 0.5% |
Zomato Limited |
Consumer Discretionary | 0.5% |
Rivian Automotive, Inc.. - Series F Common Restricted |
Consumer Discretionary | 0.5% |
Taboola.com Ltd. - PIPE Shares |
Communication Services | 0.4% |
Taboola.com Ltd. |
Communication Services | 0.4% |
Innovid Corp. |
Communication Services | 0.3% |
Codere Online Luxembourg, S.A. |
Consumer Discretionary | 0.3% |
Space Exploration Technologies Corporation - Cl - C |
Industrials | 0.3% |
Codere Online Luxembourg, S.A. - Forward Shares |
Consumer Discretionary | 0.2% |
Farmers Business Network, Inc. - Series G Preferred |
Materials | 0.2% |
Resident Home Inc. - Series B-1 Preferred Stock |
Consumer Discretionary | 0.1% |
Taboola.com Ltd. - Warrants Exp. 6/29/2026 |
Communication Services | 0.0% |
Innovid Corp. - Warrants Exp. 11/30/2026 |
Communication Services | 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% |
Codere Online Luxembourg, S.A. - Warrants Exp. 11/30/2026 |
Consumer Discretionary | 0.0% |
Codere Online Luxembourg, S.A. - Founders Shares |
Consumer Discretionary | 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 |
---|---|---|
Think & Learn Private Limited | 1.88% | 0.78% |
CrowdStrike, Inc. | 2.87% | 0.66% |
Nuvei Corporation | 1.65% | 0.36% |
Tesla, Inc. | 0.91% | 0.34% |
ZoomInfo Technologies Inc. | 2.98% | 0.18% |
Quarterly as of 03/31/22
Top Detractors | Average Weight | Contribution |
---|---|---|
Rivian Automotive, Inc. | 5.57% | -4.55% |
EPAM Systems, Inc. | 3.51% | -2.66% |
Shopify Inc. | 3.31% | -2.21% |
Natera, Inc. | 1.00% | -1.12% |
Snowflake Inc. | 2.66% | -1.02% |
Source: FactSet PA.
02/04/22
In a February 4, 2022 interview, Alex Umansky, described by Insider as “Alex thrived as one of Wall Street's best stock pickers — then came the tech rout.” Alex discusses changes he’s made in the wake of the tech rout while staying true to his approach to growth investing. Alex told us the changes he's making to emerge with a stronger portfolio, and explained why value stocks are like 'a melting ice cube.'
Alex manages Baron Global Advantage Fund, Baron Fifth Avenue Growth Fund, and Baron Durable Advantage Fund.
09/02/21
Business Insider featured Baron Capital Founder and CEO Ron Baron and portfolio manager Alex Umansky in a September 2, 2021, article, “A complete guide to the world's best stock pickers, their mutual fund strategies, and their most lucrative bets.” Read the full article on Business Insider.(Subscription required outside the U.S.)
03/11/21
Baron Capital is pleased to announce that Baron Global Advantage Fund has been named the Best Global Multi-Cap Growth Fund by Refinitiv Lipper Fund for both its three-year and five-year risk-adjusted performance. This is third consecutive annual award for the Fund. Read the full article to learn more.
The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.
01/23/21
11/11/20
Alex Umansky, described as “one of the world's best stock pickers for years” by Business Insider, discusses the core of his approach and how investors can keep themselves from being led off course in a November 11, 2020 profile.
08/01/20
In an August 1, 2020, article, “Investors are pouring into this fund that's riding global disruptors to a 40% return this year,” Baron Global Advantage Fund Portfolio Manager Alex Umansky talks to CNBC Prto about how the pandemic is compressing the time frame for the disruptive secular changes the Fund focuses on. (subscription required for access)
07/30/20
In a July 30, 2020 profile in Barron’s, “This $1.2 Billion Stock Fund Is Up More Than 40% in 2020. Here's How."(Subscription required), Alex Umansky, Portfolio Manager of Baron Global Advantage Fund, discusses why the kinds of companies he favors -- unique businesses with sustainable competitive advantages and very large addressable markets -- are well positioned for the realities of a COVID-19 world.
05/01/20
Baron Capital is pleased to announce that Mike Lippert has been named Head of Technology Research. In addition, Ishay Levin has been promoted to assistant portfolio manager of Baron Opportunity Fund and Guy Tartakovsky has been promoted to assistant portfolio manager of Baron Global Advantage Fund.
03/23/20
We are pleased to announce that Baron Global Advantage Fund was named Best Global Multi-Cap Growth Fund at the 2020 Lipper Awards for the second straight year.
02/07/20
Watch Baron Global Advantage Fund Portfolio Manager Alex Umansky talk about “big idea” companies in his February 7 appearance on PBS’s “Consuelo Mack’s “WealthTrack.”
SAI | 04/29/22 |
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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 |
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: Growth stocks can react differently to issuer, political, market and economic developments than the market as a whole. 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, resulting in greater share price volatility. Securities of small and medium-sized companies may be thinly traded and more difficult to sell.
The Fund may not achieve its objectives.
Definitions (provided by BAMCO, Inc.): The MSCI ACWI Growth Index and the MSCI ACWI Index cited are unmanaged, free float-adjusted market capitalization weighted indexes. The MSCI ACWI Growth Index measures the performance of large, mid and small cap growth securities across developed and emerging markets, including the United States. The MSCI ACWI Index measures the equity market performance of large and midcap securities across developed and emerging markets, including the United States. The indexes and the Fund include reinvestment of dividends, net of foreign withholding taxes, which positively impact the performance results. Index performance is not fund performance. Investors cannot invest directly in 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).