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 05, 2023
NAV | $25.28 |
---|---|
Daily Change ($) | -$0.08 |
Daily Change (%) | -0.32% |
YTD | 4.12% |
Inception Date | 12/31/2008 |
Portfolio Manager
years of exp 36
years at baron 16
1Source: FactSet SPAR.
as of 06/05/23
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$25.28 | -$0.08 | -0.32% | 2.60% | 0.40% | 4.12% |
as of 05/31/23
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BIGUX - Baron International Growth Fund - R6 | -2.14% | 1.48% | -5.05% | 3.77% | 2.20% | 6.17% | 8.87% | 0.99% | 0.95% |
MSCI ACWI ex USA Index | -1.96% | 4.77% | -1.41% | 7.23% | 2.22% | 3.83% | 6.30% | ||
MSCI ACWI ex USA IMI Growth Index | -1.73% | 6.31% | -0.53% | 4.51% | 2.71% | 4.82% | 7.28% |
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/21.
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, 2033, 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 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.
The Fund's 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 03/31/23
YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|
Gross | Net | |||||||
BIGUX - Baron International Growth Fund - R6 | 3.71% | -11.67% | 11.33% | 2.50% | 6.71% | 9.15% | 0.96% | 0.95% |
MSCI ACWI ex USA Index | 6.87% | -5.07% | 11.80% | 2.47% | 4.17% | 6.52% | ||
MSCI ACWI ex USA IMI Growth Index | 8.18% | -7.29% | 9.97% | 3.13% | 5.11% | 7.50% |
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/21.
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, 2033, 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 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.
The Fund's 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, 2033, 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 12/31/21.
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.
The Fund's 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 05/31/23
Year | Baron International Growth Fund | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index |
---|---|---|---|
2022 | -27.28% | -16.00% | -23.49% |
2021 | 9.89% | 7.82% | 5.97% |
2020 | 30.75% | 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, 2033, 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 12/31/21.
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.
The Fund's 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 |
---|---|---|---|---|---|---|---|---|---|
09/26/2022 | 09/27/2022 | 09/28/2022 | $0.0000 | $0.0000 | $0.0032 | $0.2951 | $0.2983 | $21.02 | -27.28% |
11/22/2021 | 11/23/2021 | 11/24/2021 | $0.6784 | $0.0000 | $0.0000 | $1.1180 | $1.7964 | $33.53 | 9.89% |
09/22/2021 | 09/23/2021 | 09/24/2021 | $0.0303 | $0.0000 | $0.0000 | $0.0000 | $0.0303 | $36.91 | 9.89% |
11/23/2020 | 11/24/2020 | 11/25/2020 | $0.0326 | $0.0000 | $0.0000 | $0.0000 | $0.0326 | $30.65 | 30.75% |
09/23/2020 | 09/24/2020 | 09/25/2020 | $0.0059 | $0.0000 | $0.0000 | $0.0000 | $0.0059 | $26.82 | 30.75% |
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 | $23.52 | -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 03/31/23
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 20.56 | 19.48 | 16.02 |
Sharpe Ratio | 0.50 | 0.06 | 0.37 |
Alpha (%) | -1.32 | 0.19 | 2.65 |
Beta | 1.12 | 1.06 | 1.00 |
R-Squared (%) | 89.03 | 88.49 | 85.22 |
Tracking Error (%) | 7.11 | 6.68 | 6.16 |
Information Ratio | -0.07 | 0.00 | 0.41 |
Upside Capture (%) | 109.56 | 102.51 | 102.84 |
Downside Capture (%) | 117.06 | 102.57 | 90.08 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron International Growth Fund's(BIGUX) benchmark MSCI ACWI ex USA Index. Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
NAV | $25.28 |
---|---|
Daily Change ($) | -$0.08 |
Daily Change (%) | -$0.08 |
MTD | 2.60% |
QTD | 0.40% |
YTD | 4.12% |
BIGUX - Baron International Growth Fund - R6 | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index | |
---|---|---|---|
QTD1 | -2.14% | -1.96% | -1.73% |
YTD1 | 1.48% | 4.77% | 6.31% |
1 Year | -5.05% | -1.41% | -0.53% |
3 Years | 3.77% | 7.23% | 4.51% |
5 Years | 2.20% | 2.22% | 2.71% |
10 Years | 6.17% | 3.83% | 4.82% |
Since Inception | 8.87% | 6.30% | 7.28% |
Expense Ratio2 - Gross | 0.99% | ||
Expense Ratio2 - Net | 0.95% |
*As of 05/31/23
*Annualized as of 05/31/23
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/21.
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, 2033, 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 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.
The Fund's 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.
BIGUX - Baron International Growth Fund - R6 | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index | |
---|---|---|---|
YTD1 | 3.71% | 6.87% | 8.18% |
1 Year | -11.67% | -5.07% | -7.29% |
3 Years | 11.33% | 11.80% | 9.97% |
5 Years | 2.50% | 2.47% | 3.13% |
10 Years | 6.71% | 4.17% | 5.11% |
Since Inception | 9.15% | 6.52% | 7.50% |
Expense Ratio2 - Gross | 0.96% | ||
Expense Ratio2 - Net | 0.95% |
*As of 03/31/23
*Annualized as of 05/31/23
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/21.
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, 2033, 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 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.
The Fund's 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 03/31/23
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 20.56 | 19.48 | 16.02 |
Sharpe Ratio | 0.50 | 0.06 | 0.37 |
Alpha (%) | -1.32 | 0.19 | 2.65 |
Beta | 1.12 | 1.06 | 1.00 |
R-Squared (%) | 89.03 | 88.49 | 85.22 |
Tracking Error (%) | 7.11 | 6.68 | 6.16 |
Information Ratio | -0.07 | 0.00 | 0.41 |
Upside Capture (%) | 109.56 | 102.51 | 102.84 |
Downside Capture (%) | 117.06 | 102.57 | 90.08 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron International Growth Fund's(BIGUX) benchmark MSCI ACWI ex USA Index. Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
as of 05/31/23
Year | Baron International Growth Fund | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index |
---|---|---|---|
2022 | -27.28% | -16.00% | -23.49% |
2021 | 9.89% | 7.82% | 5.97% |
2020 | 30.75% | 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, 2033, 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 12/31/21.
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.
The Fund's 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 | 09/26/2022 | 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 | 09/27/2022 | 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 | 09/28/2022 | 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 | $0.0000 | $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 | $0.0000 |
Short-Term Capital Gain | $0.0032 | $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 | $0.2951 | $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 | $0.2983 | $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 | $21.02 | $33.53 | $36.91 | $30.65 | $26.82 | $24.08 | $22.80 | $20.66 | $23.52 | $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 | -27.28% | 9.89% | 9.89% | 30.75% | 30.75% | -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 03/31/23
Baron International Growth Fund | MSCI ACWI ex USA Index | |
---|---|---|
Net Assets | $500.00 million | |
# of Issuers / % of Net Assets | 100 / 91.2% | |
Turnover (3 Year Average) | 37.42% | |
Active Share | 87.5% | |
Median Market Cap | $15.71 billion | $8.66 billion |
Weighted Average Market Cap | $65.77 billion | $88.33 billion |
EPS Growth (3-5 year forecast) | 14.2% | 10.4% |
Price/Earnings Ratio (trailing 12-month) | 17.5 | 13.1 |
Price/Book Ratio | 2.4 | 1.7 |
Price/Sales Ratio | 1.9 | 1.2 |
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 04/30/23
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
Linde PlcLinde Public Limited Company (LIN GY) is the largest global independent industrial gas operator. |
Materials | 2.6% | |
Arch Capital Group Ltd.Arch Capital Group Ltd. (ACGL) is a Bermuda-based insurance company providing property & casualty insurance, reinsurance, and mortgage insurance. |
Financials | 2.5% | |
Meyer Burger Technology AGMeyer Burger Technology Ag (MBTN.SW) is a Switzerland-based supplier of solar modules. |
Information Technology | 2.5% | |
AstraZeneca PLCAstraZeneca PLC (AZN) is a global biopharmaceutical company with 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 | 2.3% | |
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 | 2.3% | |
Constellation Software, Inc.Constellation Software, Inc. (CSU.CN) is a holding company that owns and operates a large number of small- and medium-sized software businesses. These businesses allow customers across a wide range of verticals to automate key activities with the goal of saving on labor costs. |
Information Technology | 2.1% | |
Keyence CorporationKeyence Corporation (6861 JP) is a leading developer and manufacturer of factory automation equipment. The company's products include fiber optic sensors, photoelectric sensors, laser scan, and bar code readers. Keyence is headquartered in Osaka, Japan. |
Information Technology | 2.0% | |
Industria de Diseno Textil, S.A.Industria de Diseño Textil, S.A. (ITX.SM) (Inditex) is a leading Spain-based specialty apparel company with over 6,000 stores in more than 80 countries. Its flagship Zara brand is synonymous with global fast fashion. |
Consumer Discretionary | 1.9% | |
Taiwan Semiconductor Manufacturing Company LimitedTaiwan Semiconductor Manufacturing Company Ltd. (TSM) is the world's largest independent semiconductor foundry, manufacturing chips on behalf of other companies. |
Information Technology | 1.9% | |
Pernod Ricard SAPernod Ricard SA (RI.FP) is a France-based global spirits conglomerate. Major brands include Jameson, Martell, Chivas, Glenlivet, Absolut, and Malibu. Its revenue is geographically diversified, with 20% of sales in the U.S., 13% in China, 12% in India, 30% in Europe, and 25% in the rest of the world. |
Consumer Staples | 1.7% | |
Total |
21.8% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 12/31/22
Name | Sector | % of Net Assets |
---|---|---|
Arch Capital Group Ltd. |
Financials | 2.9% |
AstraZeneca PLC |
Health Care | 2.8% |
argenx SE ADR |
Health Care | 2.5% |
Linde plc |
Materials | 2.4% |
Meyer Burger Technology AG |
Information Technology | 2.2% |
Keyence Corporation |
Information Technology | 1.8% |
BNP Paribas S.A. |
Financials | 1.7% |
Industria de Diseno Textil, S.A. |
Consumer Discretionary | 1.7% |
Constellation Software, Inc. |
Information Technology | 1.7% |
Nestlé S.A. |
Consumer Staples | 1.7% |
Pernod Ricard SA |
Consumer Staples | 1.7% |
Agilent Technologies, Inc. |
Health Care | 1.6% |
Taiwan Semiconductor Manufacturing Company Limited |
Information Technology | 1.6% |
Reliance Industries Limited |
Energy | 1.6% |
Bajaj Finance Limited |
Financials | 1.5% |
SYMRISE AG |
Materials | 1.5% |
SMS CO., LTD. |
Industrials | 1.5% |
AMG Advanced Metallurgical Group N.V. |
Materials | 1.5% |
Genmab A/S |
Health Care | 1.5% |
Waga Energy SA |
Energy | 1.5% |
Suzano S.A. |
Materials | 1.4% |
Japan Airport Terminal Co., Ltd. |
Industrials | 1.4% |
Eurofins Scientific SE |
Health Care | 1.4% |
Koninklijke DSM N.V. |
Materials | 1.4% |
Korea Shipbuilding & Offshore Engineering Co., Ltd. |
Industrials | 1.4% |
LVMH Moet Hennessy Louis Vuitton SE |
Consumer Discretionary | 1.3% |
InPost S.A. |
Industrials | 1.3% |
eDreams ODIGEO SA |
Consumer Discretionary | 1.2% |
Befesa S.A. 144A |
Industrials | 1.2% |
Epiroc AB |
Industrials | 1.2% |
Glencore PLC |
Materials | 1.2% |
Experian plc |
Industrials | 1.2% |
Clariant AG |
Materials | 1.2% |
Agnico Eagle Mines Limited |
Materials | 1.1% |
Stevanato Group S.p.A |
Health Care | 1.1% |
Hyundai Heavy Industries Co., Ltd. |
Industrials | 1.1% |
Universal Music Group N.V. |
Communication Services | 1.1% |
Renesas Electronics Corporation |
Information Technology | 1.0% |
Bank of Ireland Group plc |
Financials | 1.0% |
Recruit Holdings Co., Ltd. |
Industrials | 1.0% |
Alibaba Group Holding Limited - ADR |
Consumer Discretionary | 1.0% |
Dino Polska S.A. 144A |
Consumer Staples | 1.0% |
WANdisco plc |
Information Technology | 1.0% |
B&M European Value Retail S.A. |
Consumer Discretionary | 0.9% |
Future plc |
Communication Services | 0.9% |
Credicorp Ltd. |
Financials | 0.9% |
Full Truck Alliance Co. Ltd. - ADR |
Industrials | 0.9% |
Watches of Switzerland Group Limited 144A |
Consumer Discretionary | 0.8% |
Baidu, Inc. |
Communication Services | 0.8% |
Compagnie Financiere Richemont SA |
Consumer Discretionary | 0.8% |
Midea Group Co., Ltd.- A |
Consumer Discretionary | 0.8% |
S4 Capital plc |
Communication Services | 0.8% |
Vivendi SA |
Communication Services | 0.8% |
HDFC Bank Limited |
Financials | 0.8% |
Tokyo Electron Limited |
Information Technology | 0.7% |
Afya Limited |
Consumer Discretionary | 0.7% |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A |
Health Care | 0.7% |
AIA Group Limited |
Financials | 0.7% |
China Tourism Group Duty Free Corporation Limited |
Consumer Discretionary | 0.7% |
MonotaRO Co., Ltd. |
Industrials | 0.7% |
Grupo México, S.A.B. de C.V. |
Materials | 0.7% |
Tenaris S.A. |
Energy | 0.7% |
Tenaris S.A. - ADR |
Energy | 0.7% |
Bharti Airtel Limited PP |
Communication Services | 0.7% |
Estun Automation Co., Ltd. |
Industrials | 0.6% |
Jiangsu Hengli Hydraulic Co., Ltd. |
Industrials | 0.6% |
Kingdee International Software Group Company Limited |
Information Technology | 0.6% |
Z Holdings Corporation |
Communication Services | 0.6% |
Newcrest Mining Limited |
Materials | 0.6% |
Wix.com Ltd. |
Information Technology | 0.6% |
Cellnex Telecom, S.A. 144A |
Communication Services | 0.6% |
Okamoto Industries, Inc. |
Materials | 0.6% |
Kingsoft Corporation Ltd. |
Communication Services | 0.6% |
Godrej Properties Limited |
Real Estate | 0.6% |
Dechra Pharmaceuticals PLC |
Health Care | 0.6% |
Endava plc -ADR |
Information Technology | 0.6% |
Galaxy Entertainment Group Limited |
Consumer Discretionary | 0.5% |
Lloyds Banking Group plc |
Financials | 0.5% |
Techtronic Industries Co. Ltd. |
Industrials | 0.5% |
JD.com, Inc. ADR |
Consumer Discretionary | 0.5% |
Yum China Holdings Inc. |
Consumer Discretionary | 0.5% |
Aker Carbon Capture AS |
Industrials | 0.5% |
Ceres Power Holdings plc |
Industrials | 0.4% |
Norsk Hydro ASA |
Materials | 0.4% |
JM Financial Limited |
Financials | 0.4% |
Edelweiss Financial Services Limited |
Financials | 0.4% |
Max Financial Services Limited |
Financials | 0.4% |
B3 S.A. - Brasil, Bolsa, Balcao |
Financials | 0.4% |
Tencent Holdings, Ltd. |
Communication Services | 0.4% |
Zai Lab Limited -Adr |
Health Care | 0.4% |
StoneCo Ltd. |
Information Technology | 0.4% |
Nippon Life India Asset Management Limited 144A |
Financials | 0.4% |
Tencent Holdings Limited - ADR |
Communication Services | 0.3% |
Hong Kong Exchanges and Clearing Limited |
Financials | 0.3% |
Coupang, Inc. |
Consumer Discretionary | 0.3% |
Mister Spex SE |
Consumer Discretionary | 0.2% |
Taboola.com Ltd. |
Communication Services | 0.2% |
J D Wetherspoon plc |
Consumer Discretionary | 0.2% |
Hapvida Participacoes e Investimentos S.A. 144A |
Health Care | 0.2% |
GDS Holdings Limited - ADR |
Information Technology | 0.2% |
JD.com, Inc. |
Consumer Discretionary | 0.1% |
Similarweb Ltd. |
Information Technology | 0.1% |
DLocal Limited |
Information Technology | 0.1% |
Taboola.com Ltd. - PIPE Shares |
Communication Services | 0.1% |
Innovid Corp. - PIPE Share |
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% |
Sberbank of Russia PJSC |
Financials | 0.0% |
As of 04/30/23
As of 04/30/23
Colors of Sub-Industry bars correspond to the GICS sector chart.
As of 04/30/23
Quarterly as of 03/31/23
Top Contributors | Average Weight | Contribution |
---|---|---|
Renesas Electronics Corporation | 1.34% | 0.62% |
eDreams ODIGEO SA | 1.68% | 0.48% |
Keyence Corporation | 1.99% | 0.47% |
Meyer Burger Technology AG | 2.36% | 0.43% |
Industria de Diseno Textil, S.A. | 1.78% | 0.42% |
Quarterly as of 03/31/23
Top Detractors | Average Weight | Contribution |
---|---|---|
WANdisco plc | 1.08% | -1.17% |
Tenaris S.A. | 1.14% | -0.24% |
Afya Limited | 0.59% | -0.20% |
Waga Energy SA | 1.40% | -0.19% |
Glencore PLC | 1.08% | -0.18% |
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. Watch 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.
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.
11/09/18
At the 2018 Baron Investment Conference, Ron Baron joined Ken Moelis, chairman and CEO of Moelis & Company, on CNBC’s “Squawk Box” to discuss Moelis’ investment strategy and the outlook for M&A activity. Watch the full interview on www.cnbc.com.
Portfolio holdings as a percentage of net assets as of September 30, 2018 for Moelis & Company are as follows: Baron Growth Fund (0.6%), Baron Small Cap Fund (0.9%).
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
SAI | 04/28/23 |
---|---|
Prospectus | 04/28/23 |
Summary Prospectus | 04/28/23 |
Fact Sheet | 03/31/23 |
Baron Select Funds Annual Financial Report | 12/31/22 |
Baron Select Funds Semi-Annual Financial Report | 06/30/22 |
1Q23 Baron Select Funds NPORT | 03/31/23 |
3Q22 Baron Select Funds NPORT | 09/30/22 |
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: 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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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).