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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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 Jan 22, 2021
NAV | $33.87 |
---|---|
Daily Change ($) | -$0.21 |
Daily Change (%) | -0.62% |
YTD | 4.18% |
Inception Date | 12/31/2008 |
Overall (out of 384 Funds)
Ratings based on risk-adjusted returns as of 12/31/2020
Category:US Fund Foreign Large Growth
Portfolio Manager
years of exp 34
years at baron 14
1Source: FactSet SPAR.
For the period ended 12/31/2020, the Baron International Growth Fund received a 4-Star Overall Morningstar Rating™, 3-Star 3-Year Rating, 4-Star 5-Year Rating, and 4-Star 10-Year Rating. The Morningstar Ratings are based on the Morningstar Risk-Adjusted Return measures of 384, 384, 313, and 226 funds in the category, respectively. This Morningstar Rating is for the Institutional share class only; other classes may have different performance characteristics.
The Morningstar Rating for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Morningstar classifies funds as being large-cap, mid-cap, or small-cap based on the market capitalization of the fund’s stock holdings; and as value, blend, or growth based on the value-growth orientation of the stock holdings. The nine possible combinations of these characteristics correspond to the nine squares of the Morningstar Style Box–size is displayed along the vertical axis and style is displayed along the horizontal axis. Please note that the style boxes indicate the Fund’s equity style, not necessarily its Morningstar Category.
© 2020 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 01/22/21
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$33.87 | -$0.21 | -0.62% | 4.18% | 4.18% | 4.18% |
as of 11/30/20
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BINIX - Baron International Growth Fund - I | 11.67% | 23.23% | 27.53% | 10.79% | 12.60% | 9.06% | 12.24% | 1.04% | 0.95% |
MSCI ACWI ex USA Index | 11.01% | 4.98% | 9.52% | 3.82% | 7.38% | 5.16% | 7.66% | ||
MSCI ACWI ex USA IMI Growth Index | 8.26% | 16.01% | 20.93% | 8.60% | 10.40% | 7.18% | 9.74% |
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, 2031, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
as of 12/31/20
1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|
Gross | Net | ||||||
BINIX - Baron International Growth Fund - I | 30.83% | 11.70% | 14.17% | 8.82% | 12.71% | 1.04% | 0.95% |
MSCI ACWI ex USA Index | 10.65% | 4.88% | 8.93% | 4.92% | 8.08% | ||
MSCI ACWI ex USA IMI Growth Index | 22.40% | 9.74% | 11.83% | 6.94% | 10.16% |
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, 2031, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
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, 2031, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
Expense ratios are based on fiscal year ended 12/31/19.
as of 12/31/20
Year | Baron International Growth Fund | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index |
---|---|---|---|
2020 | 30.83% | 10.65% | 22.40% |
2019 | 29.39% | 21.51% | 26.98% |
2018 | -17.68% | -14.20% | -14.96% |
2017 | 37.33% | 27.19% | 32.25% |
2016 | 1.35% | 4.50% | 0.06% |
2015 | 1.48% | -5.66% | -0.26% |
2014 | -2.07% | -3.87% | -2.77% |
2013 | 21.89% | 15.29% | 15.85% |
2012 | 18.17% | 16.83% | 16.69% |
2011 | -16.13% | -13.71% | -14.66% |
2010 | 24.54% | 11.15% | 15.90% |
2009 | 44.89% | 41.45% | 40.90% |
1Not annualized.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2031, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
Expense ratios are based on fiscal year ended 12/31/19.
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 |
---|---|---|---|---|---|---|---|---|---|
11/23/2020 | 11/24/2020 | 11/25/2020 | $0.0326 | $0.0000 | $0.0000 | $0.0000 | $0.0326 | $30.66 | |
09/23/2020 | 09/24/2020 | 09/25/2020 | $0.0059 | $0.0000 | $0.0000 | $0.0000 | $0.0059 | $26.83 | |
11/25/2019 | 11/26/2019 | 11/27/2019 | $0.0531 | $0.0000 | $0.0000 | $0.0000 | $0.0531 | $24.08 | |
09/26/2019 | 09/27/2019 | 09/30/2019 | $0.0154 | $0.0000 | $0.0000 | $0.0067 | $0.0221 | $22.80 | |
11/28/2018 | 11/29/2018 | 11/30/2018 | $0.0000 | $0.0000 | $0.0000 | $0.5769 | $0.5769 | $20.66 | -17.68% |
09/24/2018 | 09/25/2018 | 09/26/2018 | $0.0000 | $0.0000 | $0.0514 | $0.0486 | $0.1000 | $23.51 | -17.68% |
11/27/2017 | 11/28/2017 | 11/29/2017 | $0.0000 | $0.0000 | $0.0000 | $0.7448 | $0.7448 | $23.58 | 37.33% |
09/27/2017 | 09/28/2017 | 09/29/2017 | $0.0000 | $0.0000 | $0.0000 | $0.1007 | $0.1007 | $23.06 | 37.33% |
11/28/2016 | 11/29/2016 | 11/30/2016 | $0.0000 | $0.0000 | $0.0000 | $0.1582 | $0.1582 | $18.48 | 1.35% |
10/05/2016 | 10/06/2016 | 10/07/2016 | $0.0100 | $0.0000 | $0.0000 | $0.0006 | $0.0106 | $19.62 | 1.35% |
12/02/2015 | 12/03/2015 | 12/04/2015 | $0.1280 | $0.0000 | $0.0000 | $0.0092 | $0.1372 | $18.43 | 1.48% |
09/23/2015 | 09/24/2015 | 09/25/2015 | $0.0305 | $0.0000 | $0.0000 | $0.0193 | $0.0498 | $17.44 | 1.48% |
12/01/2014 | 12/02/2014 | 12/03/2014 | $0.0000 | $0.0000 | $0.0000 | $0.3885 | $0.3885 | $18.43 | -2.07% |
09/22/2014 | 09/23/2014 | 09/24/2014 | $0.0400 | $0.0000 | $0.0000 | $0.1491 | $0.1891 | $18.90 | -2.07% |
09/25/2013 | 09/26/2013 | 09/27/2013 | $0.0014 | $0.0000 | $0.0000 | $0.0000 | $0.0014 | $18.59 | 21.89% |
09/24/2012 | 09/25/2012 | 09/26/2012 | $0.0270 | $0.0000 | $0.0000 | $0.0000 | $0.0270 | $15.36 | 18.17% |
11/28/2011 | 11/29/2011 | 11/30/2011 | $0.0000 | $0.0000 | $0.0000 | $0.9570 | $0.9570 | $13.38 | -16.13% |
09/07/2011 | 09/08/2011 | 09/09/2011 | $0.0900 | $0.0000 | $0.0540 | $0.2440 | $0.3880 | $15.20 | -16.13% |
09/27/2010 | 09/28/2010 | 09/29/2010 | $0.0000 | $0.0000 | $0.2110 | $0.0000 | $0.2110 | $15.44 | 24.54% |
12/28/2009 | 12/29/2009 | 12/30/2009 | $0.0000 | $0.0000 | $0.3600 | $0.0000 | $0.3600 | $14.17 | 44.89% |
as of 12/31/20
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 19.38 | 16.15 | 15.58 |
Sharpe Ratio | 0.52 | 0.81 | 0.53 |
Alpha (%) | 6.75 | 5.27 | 4.09 |
Beta | 1.00 | 0.97 | 0.95 |
R-Squared (%) | 88.41 | 85.70 | 86.07 |
Tracking Error (%) | 6.60 | 6.12 | 5.86 |
Information Ratio | 1.03 | 0.86 | 0.67 |
Upside Capture (%) | 108.58 | 106.08 | 100.40 |
Downside Capture (%) | 82.41 | 80.86 | 80.29 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron International Growth Fund's(BINIX) benchmark (MSCI ACWI ex USA Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
NAV | $33.87 |
---|---|
Daily Change ($) | -$0.21 |
Daily Change (%) | -0.62% |
MTD | 4.18% |
QTD | 4.18% |
YTD | 4.18% |
BINIX - Baron International Growth Fund - I | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index | |
---|---|---|---|
QTD1 | 11.67% | 11.01% | 8.26% |
YTD1 | 23.23% | 4.98% | 16.01% |
1 Year | 27.53% | 9.52% | 20.93% |
3 Years | 10.79% | 3.82% | 8.60% |
5 Years | 12.60% | 7.38% | 10.40% |
10 Years | 9.06% | 5.16% | 7.18% |
Since Inception | 12.24% | 7.66% | 9.74% |
Expense Ratio2 - Gross | 1.04% | ||
Expense Ratio2 - Net | 0.95% |
*As of 11/30/20
*Annualized as of 12/31/20
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, 2031, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
BINIX - Baron International Growth Fund - I | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index | |
---|---|---|---|
1 Year | 30.83% | 10.65% | 22.40% |
3 Years | 11.70% | 4.88% | 9.74% |
5 Years | 14.17% | 8.93% | 11.83% |
10 Years | 8.82% | 4.92% | 6.94% |
Since Inception | 12.71% | 8.08% | 10.16% |
Expense Ratio2 - Gross | 1.04% | ||
Expense Ratio2 - Net | 0.95% |
*As of 12/31/20
*Annualized as of 12/31/20
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, 2031, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
as of 12/31/20
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 19.38 | 16.15 | 15.58 |
Sharpe Ratio | 0.52 | 0.81 | 0.53 |
Alpha (%) | 6.75 | 5.27 | 4.09 |
Beta | 1.00 | 0.97 | 0.95 |
R-Squared (%) | 88.41 | 85.70 | 86.07 |
Tracking Error (%) | 6.60 | 6.12 | 5.86 |
Information Ratio | 1.03 | 0.86 | 0.67 |
Upside Capture (%) | 108.58 | 106.08 | 100.40 |
Downside Capture (%) | 82.41 | 80.86 | 80.29 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron International Growth Fund's(BINIX) benchmark (MSCI ACWI ex USA Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
as of 12/31/20
Year | Baron International Growth Fund | MSCI ACWI ex USA Index | MSCI ACWI ex USA IMI Growth Index |
---|---|---|---|
2020 | 30.83% | 10.65% | 22.40% |
2019 | 29.39% | 21.51% | 26.98% |
2018 | -17.68% | -14.20% | -14.96% |
2017 | 37.33% | 27.19% | 32.25% |
2016 | 1.35% | 4.50% | 0.06% |
2015 | 1.48% | -5.66% | -0.26% |
2014 | -2.07% | -3.87% | -2.77% |
2013 | 21.89% | 15.29% | 15.85% |
2012 | 18.17% | 16.83% | 16.69% |
2011 | -16.13% | -13.71% | -14.66% |
2010 | 24.54% | 11.15% | 15.90% |
2009 | 44.89% | 41.45% | 40.90% |
1Not annualized.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain Baron Fund expenses pursuant to a contract expiring on August 29, 2031, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Performance for the Institutional Shares prior to 5/29/2009, is based on the performance of the Retail Shares, which have a distribution fee. The Institutional Shares do not have a distribution fee. If the annual returns prior to 5/29/2009, did not reflect this fee, the returns would be higher.
Expense ratios are based on fiscal year ended 12/31/19.
Record Date | 11/23/2020 | 09/23/2020 | 11/25/2019 | 09/26/2019 | 11/28/2018 | 09/24/2018 | 11/27/2017 | 09/27/2017 | 11/28/2016 | 10/05/2016 | 12/02/2015 | 09/23/2015 | 12/01/2014 | 09/22/2014 | 09/25/2013 | 09/24/2012 | 11/28/2011 | 09/07/2011 | 09/27/2010 | 12/28/2009 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ex Date | 11/24/2020 | 09/24/2020 | 11/26/2019 | 09/27/2019 | 11/29/2018 | 09/25/2018 | 11/28/2017 | 09/28/2017 | 11/29/2016 | 10/06/2016 | 12/03/2015 | 09/24/2015 | 12/02/2014 | 09/23/2014 | 09/26/2013 | 09/25/2012 | 11/29/2011 | 09/08/2011 | 09/28/2010 | 12/29/2009 |
Payable Date | 11/25/2020 | 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 | $0.0326 | $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 |
Short-Term Capital Gain | $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 | $0.0000 | $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 | $0.0326 | $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 | $30.66 | $26.83 | $24.08 | $22.80 | $20.66 | $23.51 | $23.58 | $23.06 | $18.48 | $19.62 | $18.43 | $17.44 | $18.43 | $18.90 | $18.59 | $15.36 | $13.38 | $15.20 | $15.44 | $14.17 |
Calendar-Yr Return | -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 12/31/20
Baron International Growth Fund | MSCI ACWI ex USA Index | |
---|---|---|
Net Assets | $611.90 million | |
# of Equity Securities / % of Net Assets | 102 / 97.1% | |
Turnover (3 Year Average) | 49.49% | |
Active Share | 90.0% | |
Median Market Cap | $15.99 billion | $8.59 billion |
Weighted Average Market Cap | $55.12 billion | $95.13 billion |
EPS Growth (3-5 year forecast) | 13.2% | 13.1% |
Price/Earnings Ratio (trailing 12-month) | 26.2 | 20.0 |
Price/Book Ratio | 2.6 | 1.8 |
Price/Sales Ratio | 2.4 | 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 12/31/20
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
BNP Paribas S.A.BNP Paribas S.A. (BNP.FP) is a French bank with leading positions in France, Belgium, and Italy. It offers retail banking, corporate investment banking, and asset management, among other financial services. BNP has smaller operations throughout Europe, as well as in the U.S., through its subsidiary Bancwest. |
Financials | 2.4% | |
Credit Suisse Group AGCredit Suisse Group AG (CSGN.SW) is a global financial services firm headquartered in Switzerland. The company specializes in providing investment banking and wealth management services to private, corporate and institutional clients worldwide. |
Financials | 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 | 2.1% | |
Zai Lab LimitedZai Lab Limited (ZLAB) is a Chinese biotechnology company in-licensing drugs from developed countries to introduce to the Chinese health care market, which is still massively underdeveloped compared to developed countries. |
Health Care | 2.0% | |
S4 Capital plcS4 Capital plc is global marketing services business led by Sir Martin Sorrell, previously CEO of WPP, the world's largest media agency, for 32 years. S4 has two main business segments: MediaMonks, which provides creative digital content production, and MightyHive, which facilitates programmatic media buying. |
Communication Services | 1.9% | |
FANUC Corp.FANUC Corp. (6954.JP) is a leading developer and manufacturer of factory robots and automation equipment. FANUC is based in Japan, with major subsidiaries in Europe and the U.S. |
Industrials | 1.7% | |
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 | 1.6% | |
Telefonaktiebolaget LM EricssonTelefonaktiebolaget LM Ericsson (ERIC) is a Sweden-based global leader in telecom equipment manufacturer |
Information Technology | 1.6% | |
Future plcFuture plc (FUTR LN) is a U.K.-based special interest publisher of digital content, magazines, and events. Future focuses mainly on reviews and how-to content, with industry focus on tech, gaming, music, creative/photography, sports, and home. Its brand portfolio includes TechRadar, PC Gamer, and Gizmodo. |
Communication Services | 1.6% | |
Lloyds Banking Group plcLloyds Banking Group plc (LLOY.LN) is a full-service financial services institution based in the U.K. The company provides a wide range of retail, commercial banking and insurance services. Lloyds is the largest retail lender in the U.K. by number of customers and branch network size. |
Financials | 1.6% | |
Total |
18.8% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 12/31/20
Name | Sector | % of Net Assets |
---|---|---|
BNP Paribas S.A. |
Financials | 2.4% |
Credit Suisse Group AG |
Financials | 2.3% |
argenx SE - ADR |
Health Care | 2.1% |
Zai Lab Limited -Adr |
Health Care | 2.0% |
S4 Capital plc |
Communication Services | 1.9% |
FANUC Corp. |
Industrials | 1.7% |
Keyence Corporation |
Information Technology | 1.6% |
Bajaj Finance Limited |
Financials | 1.6% |
Telefonaktiebolaget LM Ericsson - ADR |
Information Technology | 1.6% |
Lloyds Banking Group plc |
Financials | 1.6% |
Future plc |
Communication Services | 1.6% |
NEXTDC Limited |
Information Technology | 1.5% |
LVMH Moët Hennessy Louis Vuitton SE |
Consumer Discretionary | 1.5% |
Takeda Pharmaceutical Company Limited |
Health Care | 1.4% |
Endava plc -ADR |
Information Technology | 1.4% |
Cae Inc. |
Industrials | 1.4% |
TeamViewer AG |
Information Technology | 1.4% |
Befesa S.A. |
Industrials | 1.3% |
Arch Capital Group Ltd. |
Financials | 1.3% |
Constellation Software, Inc. |
Information Technology | 1.2% |
AstraZeneca PLC |
Health Care | 1.2% |
Eurofins Scientific SE |
Health Care | 1.2% |
SMS CO., LTD. |
Industrials | 1.2% |
Vivendi SA |
Communication Services | 1.2% |
B&M European Value Retail S.A. |
Consumer Discretionary | 1.2% |
Linde plc |
Materials | 1.2% |
Farfetch Limited |
Consumer Discretionary | 1.2% |
Clariant AG |
Materials | 1.2% |
Tokyo Electron Limited |
Information Technology | 1.1% |
J D Wetherspoon plc |
Consumer Discretionary | 1.1% |
Cellnex Telecom, S.A. |
Communication Services | 1.1% |
Alibaba Group Holding Limited - ADR |
Consumer Discretionary | 1.1% |
Grupo México, S.A.B. de C.V. |
Materials | 1.1% |
Sony Corporation |
Consumer Discretionary | 1.1% |
Agilent Technologies, Inc. |
Health Care | 1.0% |
Kingdee International Software Group Co. Ltd. |
Information Technology | 1.0% |
MonotaRO Co., Ltd. |
Industrials | 1.0% |
Tencent Holdings, Ltd. |
Communication Services | 1.0% |
Wix.com Ltd. |
Information Technology | 1.0% |
Recruit Holdings Co., Ltd. |
Industrials | 1.0% |
Reliance Industries Limited |
Energy | 1.0% |
Spotify Technology S.A. |
Communication Services | 1.0% |
Pernod Ricard SA |
Consumer Staples | 1.0% |
Advantest Corporation |
Information Technology | 1.0% |
XP Inc. |
Financials | 0.9% |
Korea Shipbuilding & Offshore Engineering Co., Ltd. |
Industrials | 0.9% |
Epiroc AB - Class A |
Industrials | 0.9% |
Rentokil Initial Plc |
Industrials | 0.9% |
TCS Group Holding PLC-GDR |
Financials | 0.9% |
Nexon Co Ltd |
Communication Services | 0.9% |
Experian plc |
Industrials | 0.9% |
Symrise AG |
Materials | 0.8% |
Nestlé S.A. |
Consumer Staples | 0.8% |
Techtronic Industries Co. Ltd. |
Industrials | 0.8% |
Max Financial Services Ltd. |
Financials | 0.8% |
Notre Dame Intermedica Participacoes S.A. |
Health Care | 0.8% |
Afya Limited |
Consumer Discretionary | 0.8% |
Tower Semiconductor Ltd. |
Information Technology | 0.8% |
Koninklijke DSM N.V. |
Materials | 0.8% |
Godrej Properties Limited |
Real Estate | 0.8% |
Dechra Pharmaceuticals PLC |
Health Care | 0.8% |
Pagseguro Digital Ltd |
Information Technology | 0.8% |
Suzano S.A. |
Materials | 0.8% |
Detsky Mir PJSC |
Consumer Discretionary | 0.8% |
Galaxy Entertainment Group Limited |
Consumer Discretionary | 0.7% |
Kingsoft Corporation Ltd. |
Information Technology | 0.7% |
AMG Advanced Metallurgical Group N.V. |
Materials | 0.7% |
Genmab A/S |
Health Care | 0.7% |
GDS Holdings Limited - ADR |
Information Technology | 0.7% |
Square Enix Holdings Co., Ltd. |
Communication Services | 0.7% |
Hua Hong Semiconductor Limited |
Information Technology | 0.7% |
Okamoto Industries, Inc. |
Materials | 0.7% |
China Tourism Group Duty Free Corporation Limited |
Consumer Discretionary | 0.7% |
China Conch Venture Holdings Ltd. |
Industrials | 0.7% |
Sberbank of Russia PJSC-ADR |
Financials | 0.7% |
Industria de Diseno Textil, S.A. |
Consumer Discretionary | 0.7% |
Golar LNG Ltd. |
Energy | 0.7% |
Itau Unibanco Banco Holding SA - ADR |
Financials | 0.7% |
Housing Development Finance Corporation Limited |
Financials | 0.7% |
Fidelity National Information Services, Inc. |
Information Technology | 0.6% |
Kotak Mahindra Bank Ltd |
Financials | 0.6% |
Midea Group Co., Ltd.- A |
Consumer Discretionary | 0.6% |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A |
Health Care | 0.6% |
HDFC Bank Limited |
Financials | 0.6% |
Han's Laser Technology Co., Ltd |
Industrials | 0.6% |
Arco Platform, Ltd. - Class a |
Consumer Discretionary | 0.6% |
ION Acquisition Corp 1 Ltd. |
Unclassified | 0.6% |
Novatek PJSC |
Energy | 0.6% |
Hong Kong Exchanges and Clearing Limited |
Financials | 0.5% |
Will Semiconductor Co., Ltd. |
Information Technology | 0.5% |
Glodon Company Limited |
Information Technology | 0.5% |
Nippon Life India Asset Management Limited |
Financials | 0.5% |
GRUMA, S.A.B. de C.V. - B |
Consumer Staples | 0.5% |
JM Financial |
Financials | 0.4% |
Edelweiss Financial Services Limited |
Financials | 0.4% |
Trainline Plc |
Consumer Discretionary | 0.4% |
WANdisco plc |
Information Technology | 0.4% |
Agora, Inc. - ADR |
Information Technology | 0.3% |
Winning Health Technology Group Co., Ltd. |
Health Care | 0.3% |
Gds Holdings Limited - Local Cl A |
Information Technology | 0.3% |
Network International Holdings Ltd. |
Information Technology | 0.3% |
Tencent Holdings Limited - ADR |
Communication Services | 0.2% |
Jacobio Pharmaceuticals Group Co., Ltd. |
Health Care | 0.0% |
Topicus.com Inc. |
Unclassified | 0.0% |
Reliance Industries-Partly P |
Energy | 0.0% |
As of 12/31/20
As of 12/31/20
Colors of Sub-Industry bars correspond to the GICS sector chart.
As of 12/31/20
Quarterly as of 12/31/20
Top Contributors | Average Weight | Contribution |
---|---|---|
Zai Lab Limited | 1.78% | 0.94% |
BNP Paribas S.A. | 2.13% | 0.91% |
Cae Inc | 1.29% | 0.90% |
Farfetch Limited | 0.77% | 0.77% |
S4 Capital plc | 1.87% | 0.62% |
Quarterly as of 12/31/20
Top Detractors | Average Weight | Contribution |
---|---|---|
Alibaba Group Holding Limited | 1.55% | -0.32% |
Reliance Industries Limited | 1.27% | -0.20% |
AstraZeneca PLC | 1.45% | -0.13% |
Square Enix Holdings Co., Ltd. | 0.79% | -0.10% |
Arco Platform Limited | 0.60% | -0.09% |
Source: FactSet PA.
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. To view the full article, click here.
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 discussing the Baron approach to growth investing farther afield.
XBRL Filings | 04/30/20 |
---|---|
Prospectus | 04/30/20 |
Summary Prospectus | 04/30/20 |
SAI | 04/30/20 |
Fact Sheet | 09/30/20 |
Baron Select Funds Annual Financial Report | 12/31/19 |
Baron Select Funds Semi-Annual Financial Report | 06/30/20 |
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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Disclosure
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 limited purpose broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).