The Fund invests primarily in emerging market companies of all sizes with significant growth potential. The Fund may invest up to 20% in companies in developed and frontier countries. Diversified.
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Share Class
IN
The Fund invests primarily in emerging market companies of all sizes with significant growth potential. The Fund may invest up to 20% in companies in developed and frontier countries. Diversified.
As of Feb 20, 2019
NAV | $13.58 |
---|---|
Daily Change ($) | $0.05 |
Daily Change (%) | 0.37% |
YTD | 8.81% |
Inception Date | 12/31/2010 |
Michael Kass Portfolio Manager
years of exp 32
years at baron 12
Morningstar classifies funds as being large-cap, mid-cap, or small-cap based on the market capitalization of the fund’s stock holdings; and as value, blend, or growth based on the value-growth orientation of the stock holdings. The nine possible combinations of these characteristics correspond to the nine squares of the Morningstar Style Box—size is displayed along the vertical axis and style is displayed along the horizontal axis.
as of 02/20/19
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$13.58 | $0.05 | 0.37% | 0.00% | 8.81% | 8.81% |
as of 01/31/19
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|
Gross | Net | |||||||
BEXUX - Baron Emerging Markets Fund - R6 | 8.81% | 8.81% | -16.04% | 11.45% | 4.58% | 4.36% | 1.11% | 1.11% |
MSCI EM Index | 8.77% | 8.77% | -14.24% | 14.89% | 4.77% | 1.28% | ||
MSCI EM IMI Growth Index | 8.95% | 8.95% | -17.42% | 13.38% | 5.25% | 2.01% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2017
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 has reimbursed certain Fund expenses (by contract as long as BAMCO, Inc. is the adviser to the Fund) and the Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
as of 12/31/18
1 Year | 3 Years | 5 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|
Gross | Net | |||||
BEXUX - Baron Emerging Markets Fund - R6 | -18.47% | 6.09% | 1.98% | 3.31% | 1.11% | 1.11% |
MSCI EM Index | -14.58% | 9.25% | 1.65% | 0.24% | ||
MSCI EM IMI Growth Index | -18.44% | 7.70% | 2.22% | 0.95% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2017
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 has reimbursed certain Fund expenses (by contract as long as BAMCO, Inc. is the adviser to the Fund) and the Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
1Not annualized.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor’s shares, when redeemed, may be worth more or less than their original cost. The Adviser has reimbursed certain Fund expenses (by contract as long as BAMCO, Inc. is the adviser to the Fund) and the Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Expense ratios are as of the fiscal year ended 12/31/2017
as of 01/31/19
Year | Baron Emerging Markets Fund | MSCI EM Index | MSCI EM IMI Growth Index |
---|---|---|---|
2018 | -18.47% | -14.58% | -18.44% |
2017 | 40.59% | 37.28% | 44.70% |
2016 | 4.17% | 11.19% | 5.84% |
2015 | -10.97% | -14.92% | -10.51% |
2014 | 3.75% | -2.19% | -0.15% |
2013 | 15.02% | -2.60% | 0.10% |
2012 | 23.22% | 18.22% | 20.72% |
2011 | -17.00% | -18.42% | -20.04% |
1Not annualized.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor’s shares, when redeemed, may be worth more or less than their original cost. The Adviser has reimbursed certain Fund expenses (by contract as long as BAMCO, Inc. is the adviser to the Fund) and the Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Expense ratios are as of the fiscal year ended 12/31/2017
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 |
---|---|---|---|---|---|---|---|---|---|
11/28/2018 | 11/29/2018 | 11/30/2018 | $0.061 | $0.000 | $0.000 | $0.000 | $0.061 | $12.86 | |
11/27/2017 | 11/28/2017 | 11/29/2017 | $0.061 | $0.003 | $0.000 | $0.000 | $0.064 | $15.01 | 40.59% |
09/27/2017 | 09/28/2017 | 09/29/2017 | $0.005 | $0.000 | $0.000 | $0.000 | $0.005 | $14.39 | 40.59% |
11/28/2016 | 11/29/2016 | 11/30/2016 | $0.041 | $0.000 | $0.000 | $0.000 | $0.041 | $11.12 | 4.17% |
10/05/2016 | 10/06/2016 | 10/07/2016 | $0.002 | $0.000 | $0.000 | $0.000 | $0.002 | $12.13 | 4.17% |
12/02/2015 | 12/03/2015 | 12/04/2015 | $0.041 | $0.000 | $0.000 | $0.000 | $0.041 | $10.71 | -10.97% |
12/01/2014 | 12/02/2014 | 12/03/2014 | $0.054 | $0.000 | $0.000 | $0.000 | $0.054 | $12.18 | 3.75% |
11/28/2012 | 11/29/2012 | 11/30/2012 | $0.173 | $0.000 | $0.000 | $0.000 | $0.173 | $9.81 | 23.22% |
as of 12/31/18
3 Years | 5 Years | Since Inception | |
---|---|---|---|
Standard Deviation (%) | 13.10 | 12.60 | 14.10 |
Sharpe Ratio | 0.39 | 0.11 | 0.21 |
Alpha (%) | -1.49 | 0.64 | 3.03 |
Beta | 0.83 | 0.76 | 0.77 |
R-Squared (%) | 88.48 | 84.22 | 83.72 |
Tracking Error (%) | 5.10 | 6.18 | 6.88 |
Information Ratio | -0.62 | 0.05 | 0.45 |
Upside Capture (%) | 83.40 | 78.87 | 83.23 |
Downside Capture (%) | 93.46 | 76.16 | 69.97 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Emerging Markets Fund's(BEXUX) benchmark (MSCI EM Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
NAV | $13.58 |
---|---|
Daily Change ($) | $0.05 |
Daily Change (%) | 0.37% |
MTD | 0.00% |
QTD | 8.81% |
YTD | 8.81% |
BEXUX - Baron Emerging Markets Fund - R6 | MSCI EM Index | MSCI EM IMI Growth Index | |
---|---|---|---|
QTD1 | 8.81% | 8.77% | 8.95% |
YTD1 | 8.81% | 8.77% | 8.95% |
1 Year | -16.04% | -14.24% | -17.42% |
3 Years | 11.45% | 14.89% | 13.38% |
5 Years | 4.58% | 4.77% | 5.25% |
Since Inception | 4.36% | 1.28% | 2.01% |
Expense Ratio2 - Gross | 1.11% | ||
Expense Ratio2 - Net | 1.11% |
*As of 01/31/19
*Annualized as of 01/31/19
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2017
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 has reimbursed certain Fund expenses (by contract as long as BAMCO, Inc. is the adviser to the Fund) 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.
BEXUX - Baron Emerging Markets Fund - R6 | MSCI EM Index | MSCI EM IMI Growth Index | |
---|---|---|---|
1 Year | -18.47% | -14.58% | -18.44% |
3 Years | 6.09% | 9.25% | 7.70% |
5 Years | 1.98% | 1.65% | 2.22% |
Since Inception | 3.31% | 0.24% | 0.95% |
Expense Ratio2 - Gross | 1.11% | ||
Expense Ratio2 - Net | 1.11% |
*As of 12/31/18
*Annualized as of 01/31/19
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2017
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 has reimbursed certain Fund expenses (by contract as long as BAMCO, Inc. is the adviser to the Fund) and the Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
as of 12/31/18
3 Years | 5 Years | Since Inception | |
---|---|---|---|
Standard Deviation (%) | 13.10 | 12.60 | 14.10 |
Sharpe Ratio | 0.39 | 0.11 | 0.21 |
Alpha (%) | -1.49 | 0.64 | 3.03 |
Beta | 0.83 | 0.76 | 0.77 |
R-Squared (%) | 88.48 | 84.22 | 83.72 |
Tracking Error (%) | 5.10 | 6.18 | 6.88 |
Information Ratio | -0.62 | 0.05 | 0.45 |
Upside Capture (%) | 83.40 | 78.87 | 83.23 |
Downside Capture (%) | 93.46 | 76.16 | 69.97 |
Except for Standard Deviation and Sharpe Ratio, the performance based-characteristics above were calculated relative to the Baron Emerging Markets Fund's(BEXUX) benchmark (MSCI EM Index). Performance statistics for additional periods will be provided on request. Source FactSet: SPAR.
as of 01/31/19
Year | Baron Emerging Markets Fund | MSCI EM Index | MSCI EM IMI Growth Index |
---|---|---|---|
2018 | -18.47% | -14.58% | -18.44% |
2017 | 40.59% | 37.28% | 44.70% |
2016 | 4.17% | 11.19% | 5.84% |
2015 | -10.97% | -14.92% | -10.51% |
2014 | 3.75% | -2.19% | -0.15% |
2013 | 15.02% | -2.60% | 0.10% |
2012 | 23.22% | 18.22% | 20.72% |
2011 | -17.00% | -18.42% | -20.04% |
1Not annualized.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor’s shares, when redeemed, may be worth more or less than their original cost. The Adviser has reimbursed certain Fund expenses (by contract as long as BAMCO, Inc. is the adviser to the Fund) and the Fund’s transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Expense ratios are as of the fiscal year ended 12/31/2017
Record Date | 11/28/2018 | 11/27/2017 | 09/27/2017 | 11/28/2016 | 10/05/2016 | 12/02/2015 | 12/01/2014 | 11/28/2012 |
---|---|---|---|---|---|---|---|---|
Ex Date | 11/29/2018 | 11/28/2017 | 09/28/2017 | 11/29/2016 | 10/06/2016 | 12/03/2015 | 12/02/2014 | 11/29/2012 |
Payable Date | 11/30/2018 | 11/29/2017 | 09/29/2017 | 11/30/2016 | 10/07/2016 | 12/04/2015 | 12/03/2014 | 11/30/2012 |
Income | $0.061 | $0.061 | $0.005 | $0.041 | $0.002 | $0.041 | $0.054 | $0.173 |
Return of Capital | $0.000 | $0.003 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 |
Short-Term Capital Gain | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 |
Long-Term Capital Gain | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 | $0.000 |
Total | $0.061 | $0.064 | $0.005 | $0.041 | $0.002 | $0.041 | $0.054 | $0.173 |
Re-Invest NAV | $12.86 | $15.01 | $14.39 | $11.12 | $12.13 | $10.71 | $12.18 | $9.81 |
Calendar-Yr Return | 40.59% | 40.59% | 4.17% | 4.17% | -10.97% | 3.75% | 23.22% |
as of 12/31/18
Baron Emerging Markets Fund | MSCI EM Index | |
---|---|---|
Net Assets | $4.61 billion | |
# of Equity Securities / % of Net Assets | 106 / 95.5% | |
Turnover (3 Year Average) | 33.11% | |
Active Share | 81.5% | |
Median Market Cap | $8.79 billion | $4.86 billion |
Weighted Average Market Cap | $54.11 billion | $72.19 billion |
EPS Growth (3-5 year forecast) | 14.9% | 14.6% |
Price/Earnings Ratio (trailing 12-month) | 14.0 | 10.9 |
Price/Book Ratio | 1.8 | 1.5 |
Price/Sales Ratio | 1.4 | 1.1 |
Current Expense Ratio Date | 12/31/2017 |
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 01/31/19
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
Alibaba Group Holding LimitedAlibaba Group Holding Limited (BABA) is the largest e-commerce company in the world. Alibaba owns and operates the two largest online shopping platforms in China, Taobao and Tmall. It also owns a third of Ant Financial, which operates China's largest third-party online payment vendor Alipay. |
Consumer Discretionary | 4.0% | |
Tencent Holdings LimitedTencent Holdings Ltd. (700.HK) is a leading internet service company and the top game developer in China. Its primary platforms include QQ for instant messaging (815 million media access units (MAUs)), WeChat for mobile messaging (500 million MAUs), and Qzone for social networking (654 million MAUs). |
Communication Services | 3.4% | |
Samsung Electronics Co., Ltd.Samsung Electronics Co, Ltd (005930.KS) is a leading consumer electronics manufacturer and the largest handset maker in the world. It is also a key player in the semiconductor (DRAM/NAND) and display components (OLED/LED) industries. |
Information Technology | 2.4% | |
Petróleo Brasileiro S.A. – PetrobrasPetróleo Brasileiro S.A. – Petrobras (PBR) is one of the largest integrated oil & gas companies in the world focused on developing of deep-water oil fields offshore Brazil. |
Energy | 2.4% | |
China Tower Corporation LimitedChina Tower Corporation Limited (788.hk) is the largest tower company in the world. We believe it is poised to help Chinese carriers augment and construct 4G and 5G networks over the next 5-10 years. |
Communication Services | 2.4% | |
Taiwan Semiconductor Manufacturing Company Ltd.Taiwan Semiconductor Manufacturing Company Ltd. (TSM) is the world's largest independent semiconductor foundry, manufacturing chips on behalf of other companies. |
Information Technology | 2.1% | |
Rumo S.A.Rumo S.A. (RAIL3.BZ) is the largest independent rail concessionaire in Brazil, transporting largely agricultural commodities and fertilizers across Brazil to export markets in Europe and Asia. |
Industrials | 1.8% | |
China Mobile Ltd.China Mobile Ltd. (941.hk) provides cellular telecommunications and related services in China and Hong Kong. China Mobile has more than 55% share of the mobile service market in the country. |
Communication Services | 1.7% | |
B3 S.A. – Brasil, Bolsa, BalcaoBM&FBOVESPA S.A. (BVMF3.BZ) operates financial exchanges in Brazil for trading equities, fixed income, derivatives, commodities, and currencies. |
Financials | 1.7% | |
WH Group LimitedWH Group Limited (0288.HK) is the largest pork processor and producer in the world. It owns Shuanghui in China and Smithfield in the U.S. |
Consumer Staples | 1.6% | |
Total |
23.5% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 12/31/18
Name | Sector | % of Net Assets |
---|---|---|
Tencent Holdings, Ltd. |
Communication Services | 3.3% |
Alibaba Group Holding Limited - ADR |
Consumer Discretionary | 2.4% |
Taiwan Semiconductor Manufacturing Company Ltd. - ADR |
Information Technology | 2.4% |
Samsung Electronics Co., Ltd. |
Information Technology | 2.3% |
China Tower Corporation Limited - Cl - H |
Communication Services | 2.3% |
Petroleo Brasileiro S.A. Petrobras - ADR |
Energy | 2.1% |
KIA Motors Corp. |
Consumer Discretionary | 1.7% |
China Mobile Ltd. |
Communication Services | 1.7% |
Rumo S.A. |
Industrials | 1.7% |
WH Group Limited |
Consumer Staples | 1.6% |
Housing Development Finance Corporation Limited |
Financials | 1.6% |
B3 S.A. – Brasil, Bolsa, Balcão |
Financials | 1.5% |
KB Financial Group Inc. |
Financials | 1.5% |
Kotak Mahindra Bank Ltd |
Financials | 1.5% |
Taiwan Mobile Co., Ltd. |
Communication Services | 1.4% |
Britannia Industries Limited |
Consumer Staples | 1.4% |
Far EasTone Telecommunications Co., Ltd. |
Communication Services | 1.4% |
Bidvest Group Ltd. |
Industrials | 1.4% |
China Mengniu Dairy Co. Ltd. |
Consumer Staples | 1.3% |
Itaú Unibanco Holding S.A. -ADR |
Financials | 1.3% |
Fomento Económico Mexicano, S.A.B. de C.V. - ADS |
Consumer Staples | 1.3% |
Bid Corporation Ltd. |
Consumer Staples | 1.3% |
Delta Electronics, Inc. |
Information Technology | 1.3% |
Sberbank of Russia PJSC-ADR |
Financials | 1.3% |
Shenzhou International Group Holdings Ltd. |
Consumer Discretionary | 1.3% |
Wal-Mart de México, S.A.B. de C.V. - Cl V |
Consumer Staples | 1.2% |
Sinopharm Group Co. Ltd. - Cl H |
Health Care | 1.2% |
Exide Industries Ltd. |
Consumer Discretionary | 1.2% |
BDO Unibank, Inc. |
Financials | 1.2% |
YPF S.A. - ADR |
Energy | 1.2% |
Ayala Land, Inc. |
Real Estate | 1.2% |
Baidu, Inc. |
Communication Services | 1.2% |
SK Telecom Co., Ltd. |
Communication Services | 1.2% |
America Movil-ADR Series L |
Communication Services | 1.1% |
Tullow Oil plc |
Energy | 1.1% |
Hangzhou Hikvision Digital-a |
Information Technology | 1.1% |
Infraestructura Energetica Nova S.A.B. de C.V. |
Utilities | 1.1% |
Eclat Textile Co., Ltd. |
Consumer Discretionary | 1.1% |
China Construction Bank Corporation |
Financials | 1.1% |
CP All Plc. |
Consumer Staples | 1.1% |
Pagseguro Digital Ltd |
Information Technology | 1.0% |
Tata Chemicals Limited |
Materials | 1.0% |
SBI Life Insurance Company Limited |
Financials | 1.0% |
Max Financial Services Ltd. |
Financials | 1.0% |
Divi's Laboratories Ltd. |
Health Care | 1.0% |
Techtronic Industries Co. Ltd. |
Consumer Discretionary | 0.9% |
Midea Group Co., Ltd.- A |
Consumer Discretionary | 0.9% |
Yunnan Baiyao Group Co., Ltd. |
Health Care | 0.9% |
Firstrand Ltd |
Financials | 0.8% |
Zai Lab Limited -Adr |
Health Care | 0.8% |
KunLun Energy Company Limited |
Energy | 0.8% |
GRUMA, S.A.B. de C.V. - B |
Consumer Staples | 0.8% |
Sasol Limited |
Materials | 0.8% |
Kroton Educacional SA |
Consumer Discretionary | 0.8% |
Sun Pharmaceuticals Industries Limited |
Health Care | 0.8% |
Copa Holdings, S.A. |
Industrials | 0.7% |
Nokia Corporation - ADR |
Information Technology | 0.7% |
Makalot Industrial Co., Ltd. |
Consumer Discretionary | 0.7% |
Pepkor Holdings Limited |
Consumer Discretionary | 0.7% |
JM Financial |
Financials | 0.6% |
Tata Global Beverages Limited |
Consumer Staples | 0.6% |
Smiles Fidelidade S.A. |
Communication Services | 0.6% |
Loma Negra Compañía Industrial Argentina Sociedad Anónima |
Materials | 0.6% |
Kangde Xin Composite Material |
Materials | 0.6% |
China Everbright Ltd. |
Financials | 0.6% |
Coal India Ltd. |
Energy | 0.6% |
Yandex N.V. |
Communication Services | 0.6% |
Ginko International Co., Ltd. |
Health Care | 0.5% |
Haitong Securities Co., Ltd. - Cl H |
Financials | 0.5% |
Localiza Rent a Car S.A. |
Industrials | 0.5% |
New Oriental Education & Technology Group Inc. - ADR |
Consumer Discretionary | 0.5% |
Kingdee International Software Group Co. Ltd. |
Information Technology | 0.5% |
Bangkok Bank Public Co. Ltd. |
Financials | 0.5% |
Sun TV Network Ltd. |
Communication Services | 0.5% |
Samsung Life Insurance Co. Ltd. |
Financials | 0.5% |
Bangkok Bank - Foreign Inv.- Public Co. Ltd. |
Financials | 0.5% |
Tata Communications Limited |
Communication Services | 0.5% |
HDFC Bank Limited |
Financials | 0.5% |
CSPC Pharmaceutical Group Limited |
Health Care | 0.5% |
Wizz Air Holdings Plc |
Industrials | 0.5% |
YY, Inc. - ADR |
Communication Services | 0.5% |
Piramal Enterprises Limited |
Health Care | 0.5% |
Han's Laser Technology Co., Ltd. CL - A |
Industrials | 0.4% |
Banco do Brasil S.A. |
Financials | 0.4% |
Bajaj Finance Limited |
Financials | 0.4% |
JSW Steel Ltd. |
Materials | 0.4% |
Momo Inc. Spon - ADR |
Communication Services | 0.4% |
Sino Biopharmaceutical Ltd. |
Health Care | 0.4% |
Sasol Limited-Sponsored - ADR |
Materials | 0.4% |
Zee Entertainment Enterprises Ltd. |
Communication Services | 0.4% |
Metro Pacific Investments Corp. |
Financials | 0.3% |
PT Tower Bersama Infrastructure, Tbk. |
Communication Services | 0.3% |
Amorepacific Corporation |
Consumer Staples | 0.3% |
Grupo Lala, S.A.B. de C.V. |
Consumer Staples | 0.3% |
MyEG Services Berhad |
Information Technology | 0.3% |
Industrial and Commercial Bank of China Limited Cl - H |
Financials | 0.3% |
Tongda Group Holdings Limited |
Information Technology | 0.3% |
Banco Macro S.A. |
Financials | 0.3% |
Edelweiss Financial Services Limited |
Financials | 0.3% |
Hua Hong Semiconductor Limited |
Information Technology | 0.3% |
StoneCo Ltd. |
Information Technology | 0.3% |
Pinduoduo Inc. - ADR |
Consumer Discretionary | 0.3% |
Sunny Optical Technology Group |
Information Technology | 0.2% |
Motherson Sumi Systems Limited |
Consumer Discretionary | 0.2% |
Manpasand Beverages Ltd. |
Consumer Staples | 0.1% |
Lekoil, Ltd. |
Energy | 0.1% |
Tencent Music Entertainment Group - ADR |
Communication Services | 0.1% |
Tongda Hong Tai Holdings Limited |
Information Technology | 0.0% |
Zee Entertainment Enterprises Ltd. |
Communication Services | 0.0% |
As of 01/31/19
As of 01/31/19
Colors of Sub-Industry bars correspond to the GICS sector chart.
As of 01/31/19
Quarterly as of 12/31/18
Top Contributors | Average Weight | Contribution |
---|---|---|
China Tower Corporation Limited | 1.70% | 0.51% |
Rumo S.A. | 1.64% | 0.26% |
Itaú Unibanco Holding S.A. | 1.17% | 0.23% |
B3 S.A. – Brasil, Bolsa, Balcao | 1.36% | 0.21% |
Housing Development Finance Corporation Limited | 1.32% | 0.21% |
Quarterly as of 12/31/18
Top Detractors | Average Weight | Contribution |
---|---|---|
Tullow Oil plc | 1.17% | -0.50% |
Alibaba Group Holding Limited | 2.46% | -0.46% |
Baidu, Inc. | 1.33% | -0.46% |
PagSeguro Digital Ltd. | 1.17% | -0.43% |
Kangde Xin Composite Material | 0.76% | -0.42% |
Source: FactSet PA.
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.
12/07/17
The January 2018 cover story of Kiplinger’s Personal Finance magazine recommended Baron Emerging Markets Fund, managed by portfolio manager Michael Kass. Read the sidebar (“Investors, Find Bargains Overseas in 2018”) at www.kiplinger.com. (Subscription required to access).
11/07/17
The cover story of the December issue of Kiplinger's Personal Finance ("3 Best International Mutual Funds to Play the Global Economic Recovery") recommended Baron Emerging Markets Fund for investors looking for exposure to international and/or emerging markets. Read the article at www.kiplinger.com. (Subcription required to access).
10/03/17
In its Quarterly Review & Outlook published on October 2, 2017, InvestorPlace named Baron Emerging Markets Fund one of the five best funds to consider right now. The article highlights portfolio manager Michael Kass’ focus on “top-quality companies in China, such as BABA and Tencent Holdings Ltd.” Read it (“5 Best Actively Managed Mutual Funds for Q4: As markets become more volatile, there are advantages to having funds with top-notch money managers”) at www.investorplace.com.
07/10/17
Morningstar’s Fund Spy awarded Baron Emerging Markets Fund a bronze medal in its June fund ratings. It highlighted the strong results, below-average expenses, and conservative investing approach of the Fund, which is managed by portfolio manager Michael Kass.
05/30/17
"We're in the middle innings of a notable earnings recovery across virtually all emerging markets," says Michael Kass, manager of the $3.3 billion Baron Emerging Markets Fund. Kass favors high-quality, fast-growing companies and finds India "an especially promising hunting ground.” Read the full story at www.kiplinger.com. (Subscription required to access).
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.
02/22/17
In Kiplinger's recent StockWatch update, "How Nervous Investors Should Play the Trump Rally," senior editor Anne Kates Smith mentions Baron Emerging Markets Fund as one of two "foreign funds worth exploring." Read the article at www.kiplinger.com (Subscription required to access).
01/05/17
In his "Opening Shot" commentary in the February 2017 issue of Kiplinger's Personal Finance magazine, James Glassman recommends Baron Emerging Markets Fund. ("A Surprise Boost for Emerging Markets: Trump's election has provided emerging markets with an unexpected benefit: a stronger dollar, which makes foreign goods even cheaper here.") Read the article at www.kiplinger.com. (Subscription required to access).
11/15/16
"The long-term growth opportunity is intact, but the new administration will have an impact on emerging-markets stocks and currencies in what could be a more contentious environment for trade policy." Patient investors can invest through Kip 25 member Baron Emerging Markets Fund. Read the article at www.kiplinger.com. (Subscription required to access).
Summary Fact Sheet | 12/30/18 |
---|---|
Baron Select Funds Semi-Annual Financial Report | 06/30/18 |
XBRL Filings | 05/21/18 |
Prospectus | 04/30/18 |
Summary Prospectus | 04/30/18 |
SAI | 04/30/18 |
Baron Select Funds Annual Financial Report | 12/31/16 |
Michael Kass' 2018 Market Outlook | 01/10/18 |
Baron Emerging Markets Fund January 2019 Summary Update | 02/12/19 |
Baron Emerging Markets Fund Portfolio Update | 01/30/19 |
The information provided herein is derived from a portion of the Baron Fund's prospectus (the ”Prospectus”). The Prospectus contains additional information about the Baron Funds. You should carefully read the Prospectus before investing in any of the Baron Funds.
Investors should consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus and summary prospectuses contain this and other information about the Funds. You may obtain them from the Funds’ distributor, Baron Capital, Inc., by calling 1-800-99BARON or visiting www.BaronFunds.com. Please read them carefully before investing.
RISKS: In addition to the general stock market risk that securities may fluctuate in value, investments in developing countries may have increased risks due to a greater possibility of: settlement delays; currency and capital controls; interest rate sensitivity; corruption and crime; exchange rate volatility; and inflation or deflation. The Fund invests in companies of all sizes, including small and medium sized companies whose securities may be thinly traded and more difficult to sell during market downturns.
The Fund may not achieve its objectives.
Definitions (provided by BAMCO, Inc.): The MSCI EM (Emerging Markets) IMI Index Net USD and the MSCI EM (Emerging Markets) IMI Growth Index Net USD are free float-adjusted market capitalization indexes designed to measure equity market performance of large-, mid- and small-cap securities in the emerging markets. The MSCI EM (Emerging Markets) IMI Growth Index Net USD screens for growth-style securities. The indexes and the Fund include reinvestment of dividends, net of withholding taxes, which positively impacts 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).