The Fund invests primarily in emerging market companies of all sizes with significant growth potential. The Fund may invest up to 20% in companies in developed and frontier countries. Diversified.
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IN
The Fund invests primarily in emerging market companies of all sizes with significant growth potential. The Fund may invest up to 20% in companies in developed and frontier countries. Diversified.
As of Mar 18, 2024
NAV | $14.21 |
---|---|
Daily Change ($) | $0.04 |
Daily Change (%) | 0.28% |
YTD | 1.28% |
Inception Date | 12/31/2010 |
Portfolio Manager
years of exp 37
years at baron 17
1Source: FactSet SPAR.
as of 03/18/24
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$14.21 | $0.04 | 0.28% | 2.01% | 1.28% | 1.28% |
as of 02/29/24
QTD1 | YTD1 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|---|---|
Gross | Net | ||||||||
BEXUX - Baron Emerging Markets Fund - R6 | -0.71% | -0.71% | 8.00% | -10.16% | 0.97% | 2.26% | 3.09% | 1.13% | 1.13% |
MSCI EM Index | -0.11% | -0.11% | 8.73% | -6.30% | 1.89% | 3.01% | 1.52% | ||
MSCI EM IMI Growth Index | -0.31% | -0.31% | 6.77% | -9.46% | 2.65% | 3.57% | 2.31% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2022
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 may reimburse certain Fund expenses pursuant to a contract expiring on August 29, 2034, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
as of 12/31/23
1 Year | 3 Years | 5 Years | 10 Years | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|---|
Gross | Net | ||||||
BEXUX - Baron Emerging Markets Fund - R6 | 8.27% | -8.96% | 2.99% | 2.48% | 3.18% | 1.13% | 1.13% |
MSCI EM Index | 9.83% | -5.08% | 3.68% | 2.66% | 1.55% | ||
MSCI EM IMI Growth Index | 8.09% | -8.05% | 4.67% | 3.44% | 2.36% |
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2022
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 may reimburse certain Fund expenses pursuant to a contract expiring on August 29, 2034, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
1Not annualized.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser may reimburse certain Fund expenses pursuant to a contract expiring on August 29, 2034, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Expense ratios are as of the fiscal year ended 12/31/2022
as of 02/29/24
Year | Baron Emerging Markets Fund | MSCI EM Index | MSCI EM IMI Growth Index |
---|---|---|---|
2023 | 8.27% | 9.83% | 8.09% |
2022 | -25.81% | -20.09% | -23.88% |
2021 | -6.07% | -2.54% | -5.50% |
2020 | 29.29% | 18.31% | 30.75% |
2019 | 18.77% | 18.42% | 23.60% |
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 may reimburse certain Fund expenses pursuant to a contract expiring on August 29, 2034, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Expense ratios are as of the fiscal year ended 12/31/2022
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 |
---|---|---|---|---|---|---|---|---|---|
12/26/2023 | 12/27/2023 | 12/28/2023 | $0.0111 | $0.0000 | $0.0000 | $0.0000 | $0.0111 | $13.88 | |
12/06/2023 | 12/07/2023 | 12/08/2023 | $0.0845 | $0.0000 | $0.0000 | $0.0000 | $0.0845 | $13.40 | |
11/22/2021 | 11/23/2021 | 11/24/2021 | $0.3294 | $0.0000 | $0.0000 | $0.0000 | $0.3294 | $17.97 | -6.07% |
11/25/2019 | 11/26/2019 | 11/27/2019 | $0.0614 | $0.0050 | $0.0000 | $0.0000 | $0.0664 | $14.07 | 18.77% |
09/26/2019 | 09/27/2019 | 09/30/2019 | $0.0023 | $0.0000 | $0.0000 | $0.0000 | $0.0023 | $13.52 | 18.77% |
11/28/2018 | 11/29/2018 | 11/30/2018 | $0.0605 | $0.0000 | $0.0000 | $0.0000 | $0.0605 | $12.86 | -18.47% |
11/27/2017 | 11/28/2017 | 11/29/2017 | $0.0614 | $0.0028 | $0.0000 | $0.0000 | $0.0642 | $15.01 | 40.59% |
09/27/2017 | 09/28/2017 | 09/29/2017 | $0.0047 | $0.0000 | $0.0000 | $0.0000 | $0.0047 | $14.39 | 40.59% |
11/28/2016 | 11/29/2016 | 11/30/2016 | $0.0409 | $0.0000 | $0.0000 | $0.0000 | $0.0409 | $11.12 | 4.17% |
10/05/2016 | 10/06/2016 | 10/07/2016 | $0.0017 | $0.0000 | $0.0000 | $0.0000 | $0.0017 | $12.13 | 4.17% |
12/02/2015 | 12/03/2015 | 12/04/2015 | $0.0412 | $0.0000 | $0.0000 | $0.0000 | $0.0412 | $10.71 | -10.97% |
12/01/2014 | 12/02/2014 | 12/03/2014 | $0.0541 | $0.0000 | $0.0000 | $0.0000 | $0.0541 | $12.18 | 3.75% |
11/28/2012 | 11/29/2012 | 11/30/2012 | $0.1730 | $0.0000 | $0.0000 | $0.0000 | $0.1730 | $9.81 | 23.22% |
as of 12/31/23
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 17.14 | 20.28 | 16.82 |
Sharpe Ratio | -0.65 | 0.05 | 0.07 |
Alpha (%) | -4.29 | -0.56 | 0.09 |
Beta | 0.95 | 1.02 | 0.92 |
R-Squared (%) | 93.43 | 93.44 | 89.17 |
Tracking Error (%) | 4.47 | 5.21 | 5.69 |
Information Ratio | -0.87 | -0.13 | -0.03 |
Upside Capture (%) | 87.34 | 99.84 | 90.54 |
Downside Capture (%) | 106.37 | 102.60 | 90.56 |
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 | $14.21 |
---|---|
Daily Change ($) | $0.04 |
Daily Change (%) | $0.04 |
MTD | 2.01% |
QTD | 1.28% |
YTD | 1.28% |
BEXUX - Baron Emerging Markets Fund - R6 | MSCI EM Index | MSCI EM IMI Growth Index | |
---|---|---|---|
QTD1 | -0.71% | -0.11% | -0.31% |
YTD1 | -0.71% | -0.11% | -0.31% |
1 Year | 8.00% | 8.73% | 6.77% |
3 Years | -10.16% | -6.30% | -9.46% |
5 Years | 0.97% | 1.89% | 2.65% |
10 Years | 2.26% | 3.01% | 3.57% |
Since Inception | 3.09% | 1.52% | 2.31% |
Expense Ratio2 - Gross | 1.13% | ||
Expense Ratio2 - Net | 1.13% |
*As of 02/29/24
*Annualized as of 02/29/24
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2022
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 may reimburse certain Fund expenses pursuant to a contract expiring on August 29, 2034, 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.
BEXUX - Baron Emerging Markets Fund - R6 | MSCI EM Index | MSCI EM IMI Growth Index | |
---|---|---|---|
1 Year | 8.27% | 9.83% | 8.09% |
3 Years | -8.96% | -5.08% | -8.05% |
5 Years | 2.99% | 3.68% | 4.67% |
10 Years | 2.48% | 2.66% | 3.44% |
Since Inception | 3.18% | 1.55% | 2.36% |
Expense Ratio2 - Gross | 1.13% | ||
Expense Ratio2 - Net | 1.13% |
*As of 12/31/23
*Annualized as of 02/29/24
1Not annualized.
2Expense ratios are as of the fiscal year ended 12/31/2022
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 may reimburse certain Fund expenses pursuant to a contract expiring on August 29, 2034, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
as of 12/31/23
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Standard Deviation (%) | 17.14 | 20.28 | 16.82 |
Sharpe Ratio | -0.65 | 0.05 | 0.07 |
Alpha (%) | -4.29 | -0.56 | 0.09 |
Beta | 0.95 | 1.02 | 0.92 |
R-Squared (%) | 93.43 | 93.44 | 89.17 |
Tracking Error (%) | 4.47 | 5.21 | 5.69 |
Information Ratio | -0.87 | -0.13 | -0.03 |
Upside Capture (%) | 87.34 | 99.84 | 90.54 |
Downside Capture (%) | 106.37 | 102.60 | 90.56 |
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 02/29/24
Year | Baron Emerging Markets Fund | MSCI EM Index | MSCI EM IMI Growth Index |
---|---|---|---|
2023 | 8.27% | 9.83% | 8.09% |
2022 | -25.81% | -20.09% | -23.88% |
2021 | -6.07% | -2.54% | -5.50% |
2020 | 29.29% | 18.31% | 30.75% |
2019 | 18.77% | 18.42% | 23.60% |
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 may reimburse certain Fund expenses pursuant to a contract expiring on August 29, 2034, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted.
Expense ratios are as of the fiscal year ended 12/31/2022
Record Date | 12/26/2023 | 12/06/2023 | 11/22/2021 | 11/25/2019 | 09/26/2019 | 11/28/2018 | 11/27/2017 | 09/27/2017 | 11/28/2016 | 10/05/2016 | 12/02/2015 | 12/01/2014 | 11/28/2012 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ex Date | 12/27/2023 | 12/07/2023 | 11/23/2021 | 11/26/2019 | 09/27/2019 | 11/29/2018 | 11/28/2017 | 09/28/2017 | 11/29/2016 | 10/06/2016 | 12/03/2015 | 12/02/2014 | 11/29/2012 |
Payable Date | 12/28/2023 | 12/08/2023 | 11/24/2021 | 11/27/2019 | 09/30/2019 | 11/30/2018 | 11/29/2017 | 09/29/2017 | 11/30/2016 | 10/07/2016 | 12/04/2015 | 12/03/2014 | 11/30/2012 |
Income | $0.0111 | $0.0845 | $0.3294 | $0.0614 | $0.0023 | $0.0605 | $0.0614 | $0.0047 | $0.0409 | $0.0017 | $0.0412 | $0.0541 | $0.1730 |
Return of Capital | $0.0000 | $0.0000 | $0.0000 | $0.0050 | $0.0000 | $0.0000 | $0.0028 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Short-Term Capital Gain | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Long-Term Capital Gain | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
Total | $0.0111 | $0.0845 | $0.3294 | $0.0664 | $0.0023 | $0.0605 | $0.0642 | $0.0047 | $0.0409 | $0.0017 | $0.0412 | $0.0541 | $0.1730 |
Re-Invest NAV | $13.88 | $13.40 | $17.97 | $14.07 | $13.52 | $12.86 | $15.01 | $14.39 | $11.12 | $12.13 | $10.71 | $12.18 | $9.81 |
Calendar-Yr Return | -6.07% | 18.77% | 18.77% | -18.47% | 40.59% | 40.59% | 4.17% | 4.17% | -10.97% | 3.75% | 23.22% |
as of 12/31/23
Baron Emerging Markets Fund | MSCI EM Index | |
---|---|---|
Net Assets | $4.54 billion | |
# of Issuers / % of Net Assets | 88 / 97.0% | |
Turnover (3 Year Average) | 36.79% | |
Active Share | 71.2% | |
Median Market Cap | $12.89 billion | $6.69 billion |
Weighted Average Market Cap | $105.25 billion | $107.58 billion |
EPS Growth (3-5 year forecast) | 15.1% | 13.8% |
Price/Earnings Ratio (trailing 12-month) | 20.8 | 7.4 |
Price/Book Ratio | 2.6 | 1.8 |
Price/Sales Ratio | 2.4 | 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 02/29/24
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
Taiwan Semiconductor Manufacturing Company LimitedTaiwan Semiconductor Manufacturing Company Limited (TSM) is the world's largest independent semiconductor foundry, manufacturing chips on behalf of other companies. |
Information Technology | 9.2% | |
Samsung Electronics Co., Ltd.Samsung Electronics Co., Ltd. (005930.KS) is a Korean technology conglomerate known for its leadership in consumer electronics and semiconductor manufacturing. |
Information Technology | 4.7% | |
Tencent Holdings LimitedTencent Holdings Limited (700.HK) is a leading internet service company and the top game developer in China. Its primary platforms include QQ for instant messaging, WeChat for mobile messaging, and Qzone for social networking. |
Communication Services | 3.5% | |
Bundl Technologies Private LimitedBundl Technologies Private Limited (SWGY.K), doing business as Swiggy, is the leading food delivery platform in India and has a roughly 45% market share in the food delivery industry. Swiggy also has an on-demand quick commerce business. |
Consumer Discretionary | 2.4% | |
Suzano S.A.Suzano S.A. (SUZB3.BZ) is the world’s largest and lowest-cost producer of pulp, which is primarily used in paper, tissue, and packaging. |
Materials | 2.3% | |
Bharti Airtel LimitedBharti Airtel Limited (BHARTI.IN) is a leading telecommunications company, with operations in 18 countries across Asia and Africa. The company's offerings include wireless, mobile commerce, and fixed line. |
Communication Services | 2.2% | |
Reliance Industries LimitedReliance Industries Limited (RIL.IN) is India's leading conglomerate, with business interests that include oil refining, petrochemicals, media, telecommunications, and retail. |
Energy | 2.1% | |
Alibaba Group Holding LimitedAlibaba Group Holding Limited (BABA) is the largest e-commerce company in the world. Alibaba owns and operates the two largest online shopping platforms in China, Taobao and Tmall, as well as a 33% stake in Ant Financial, which is the country's dominant payment platform. |
Consumer Discretionary | 2.1% | |
InPost S.A.InPost S.A. (INPST. NA) is a logistics company operating a dominant network of automated parcel lockers in Poland. It has a nascent position in the U.K. and a leading position in France through a 2021 acquisition. InPost also delivers 65% to 70% of online marketplace Allegro's units in Poland. |
Industrials | 2.0% | |
PT Bank Rakyat Indonesia (Persero) TbkPT Bank Rakyat Indonesia (Persero) Tbk (BBRI.IJ) is a leading commercial bank in Indonesia and the biggest microfinance lender in the country, with particular strength in fast growing regions outside Jakarta. |
Financials | 1.9% | |
Total |
32.5% |
Top Ten Fund Holdings based on net assets. Portfolio holdings may change over time.
as of 12/31/23
Name | Sector | % of Net Assets |
---|---|---|
Samsung Electronics Co., Ltd. |
Information Technology | 5.3% |
Taiwan Semiconductor Manufacturing Company Limited |
Information Technology | 3.8% |
Tencent Holdings, Ltd. |
Communication Services | 3.1% |
Taiwan Semiconductor Manufacturing Company Limited |
Information Technology | 3.1% |
Bajaj Finance Limited |
Financials | 2.5% |
Suzano S.A. |
Materials | 2.3% |
HDFC Bank Limited |
Financials | 2.2% |
Alibaba Group Holding Limited - ADR |
Consumer Discretionary | 2.2% |
HD Korea Shipbuilding & Offshore Engineering Co., Ltd. |
Industrials | 2.0% |
PT Bank Rakyat Indonesia (Persero) Tbk |
Financials | 1.9% |
Bundl Technologies Private Limited, Series K |
Consumer Discretionary | 1.9% |
Reliance Industries Limited |
Energy | 1.8% |
InPost S.A. |
Industrials | 1.8% |
Bharti Airtel Limited |
Communication Services | 1.6% |
Wal-Mart de México, S.A.B. de C.V. - Cl V |
Consumer Staples | 1.6% |
Localiza Rent a Car S.A. |
Industrials | 1.6% |
Delta Electronics, Inc. |
Information Technology | 1.5% |
Tata Communications Limited |
Communication Services | 1.5% |
Baidu, Inc. |
Communication Services | 1.5% |
SBI Life Insurance Company Limited 144A |
Financials | 1.4% |
Godrej Consumer Products Limited |
Consumer Staples | 1.4% |
Full Truck Alliance Co. Ltd. - ADR |
Industrials | 1.3% |
PDD Holdings Inc. |
Consumer Discretionary | 1.3% |
Coupang, Inc. |
Consumer Discretionary | 1.2% |
Kweichow Moutai Co., Ltd. |
Consumer Staples | 1.2% |
BDO Unibank, Inc. |
Financials | 1.2% |
Grupo México, S.A.B. de C.V. |
Materials | 1.2% |
B3 S.A. - Brasil, Bolsa, Balcao |
Financials | 1.1% |
Kingdee International Software Group Company Limited |
Information Technology | 1.1% |
JM Financial Limited |
Financials | 1.1% |
Max Financial Services Limited |
Financials | 1.1% |
Tata Consumer Products Limited |
Consumer Staples | 1.1% |
Trent Limited |
Consumer Discretionary | 1.1% |
Godrej Properties Limited |
Real Estate | 1.1% |
Nippon Life India Asset Management Limited 144A |
Financials | 1.1% |
XP Inc. |
Financials | 1.1% |
Titan Co. Ltd. |
Consumer Discretionary | 1.0% |
Credicorp Ltd. |
Financials | 1.0% |
Shenzhou International Group Holdings Ltd. |
Consumer Discretionary | 1.0% |
NARI Technology Co. Ltd. |
Industrials | 1.0% |
Nu Holdings Ltd. |
Financials | 1.0% |
SK hynix Inc. |
Information Technology | 0.9% |
Pernod Ricard SA |
Consumer Staples | 0.9% |
HD Hyundai Heavy Industries Co., Ltd. |
Industrials | 0.9% |
Techtronic Industries Co. Ltd. |
Industrials | 0.9% |
Budweiser Brewing Company APAC Limited 144A |
Consumer Staples | 0.9% |
Afya Limited |
Consumer Discretionary | 0.9% |
Midea Group Co., Ltd.- A |
Consumer Discretionary | 0.8% |
Keyence Corporation |
Information Technology | 0.8% |
Ayala Land, Inc. |
Real Estate | 0.8% |
Mahindra & Mahindra Limited |
Consumer Discretionary | 0.8% |
Kanzhun Limited |
Communication Services | 0.8% |
Korea Aerospace Industries, Ltd. |
Industrials | 0.7% |
Jio Financial Services Limited |
Financials | 0.7% |
China Mengniu Dairy Co. Ltd. |
Consumer Staples | 0.7% |
Divi’s Laboratories Limited |
Health Care | 0.7% |
Zai Lab Limited -Adr |
Health Care | 0.7% |
Venustech Group Inc. - Class A |
Information Technology | 0.7% |
Pine Labs Pte. Ltd. Series J PFD |
Financials | 0.7% |
Jiangsu Hengli Hydraulic Co., Ltd. |
Industrials | 0.7% |
Kingsoft Corporation Ltd. |
Communication Services | 0.6% |
Muthoot Finance Limited |
Financials | 0.6% |
Tencent Holdings Limited - ADR |
Communication Services | 0.6% |
Aarti Industries Limited |
Materials | 0.6% |
Jubilant FoodWorks Limited |
Consumer Discretionary | 0.6% |
Gold Fields Limited |
Materials | 0.6% |
Yum China Holdings Inc. |
Consumer Discretionary | 0.6% |
Max Healthcare Institute Limited |
Health Care | 0.6% |
Tata Consultancy Services Limited |
Information Technology | 0.6% |
Naspers Limited |
Consumer Discretionary | 0.5% |
Estun Automation Co., Ltd. |
Industrials | 0.5% |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A |
Health Care | 0.5% |
Galaxy Entertainment Group Limited |
Consumer Discretionary | 0.5% |
Dino Polska S.A. 144A |
Consumer Staples | 0.5% |
Yum China Holdings Inc. |
Consumer Discretionary | 0.5% |
Pine Labs Pte. Ltd.- Series 1 PFD |
Financials | 0.4% |
Edelweiss Financial Services Limited |
Financials | 0.4% |
Bharti Airtel Limited PP |
Communication Services | 0.4% |
Nuvama Wealth Management Limited |
Financials | 0.4% |
Gold Fields Limited |
Materials | 0.3% |
Inter & Co Inc. |
Financials | 0.3% |
Glodon Company Limited |
Information Technology | 0.3% |
Network International Holdings Plc 144A |
Financials | 0.3% |
StoneCo Ltd. |
Financials | 0.2% |
AIA Group Limited |
Financials | 0.2% |
Samsung SDI Co., Ltd. |
Information Technology | 0.2% |
Think & Learn Private Limited - Series F |
Consumer Discretionary | 0.2% |
Lufax Holding Ltd |
Financials | 0.2% |
Yunnan Baiyao Group Co., Ltd. |
Health Care | 0.2% |
Pine Labs Pte. Ltd.Series B2 PFD |
Financials | 0.1% |
Pine Labs Pte. Ltd. Series A PFD |
Financials | 0.1% |
Pine Labs Pte. Ltd. Series B PFD |
Financials | 0.1% |
Pine Labs Pte. Ltd. Series C PFD |
Financials | 0.1% |
Aarti Pharmalabs Limited |
Health Care | 0.1% |
Codere Online Luxembourg, S.A. - Forward Shares |
Consumer Discretionary | 0.1% |
Cholamandalam Investment and Finance Company Limited |
Financials | 0.1% |
Glodon Company Limited |
Information Technology | 0.1% |
Kaynes Technology India Limited |
Information Technology | 0.1% |
Localiza Rent a Car S.A. |
Industrials | 0.0% |
Codere Online Luxembourg, S.A. - Private Warrants Exp. 11/30/2026 |
Consumer Discretionary | 0.0% |
Codere Online Luxembourg, S.A. - Private Shares |
Consumer Discretionary | 0.0% |
Sberbank of Russia PJSC |
Financials | 0.0% |
Codere Online Luxembourg, S.A. - Founders Shares |
Consumer Discretionary | 0.0% |
Pine Labs Pte. Ltd. Series C1 PFD |
Financials | 0.0% |
Pine Labs Pte. Ltd. Series D PFD |
Financials | 0.0% |
As of 02/29/24
As of 02/29/24
Colors of Sub-Industry bars correspond to the GICS sector chart.
As of 02/29/24
Quarterly as of 12/31/23
Top Contributors | Average Weight | Contribution |
---|---|---|
Taiwan Semiconductor Manufacturing Company Limited | 6.25% | 1.16% |
Samsung Electronics Co., Ltd. | 4.81% | 0.96% |
Trent Limited | 0.88% | 0.36% |
Nippon Life India Asset Management Limited | 1.07% | 0.35% |
InPost S.A. | 1.52% | 0.32% |
Quarterly as of 12/31/23
Top Detractors | Average Weight | Contribution |
---|---|---|
Think & Learn Private Limited | 0.52% | -0.45% |
Yum China Holdings Inc. | 1.27% | -0.42% |
Alibaba Group Holding Limited | 3.03% | -0.42% |
China Mengniu Dairy Co. Ltd. | 1.03% | -0.22% |
Jiangsu Hengli Hydraulic Co., Ltd. | 0.98% | -0.20% |
Source: FactSet PA.
01/18/24
In a recent Barron’s article, portfolio manager Michael Kass discusses the potential catalysts driving emerging markets growth in 2024 and explains why he favors investments in India, Brazil, and Mexico. Read the Article.
03/25/22
Baron Emerging Markets Fund, managed by Michael Kass, was named among The Kiplinger 25, a list of Kiplinger’s favorite low-fee mutual funds.
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”.
05/16/21
Pine Labs is a dominant merchant commerce platform that is enabling digital payments and “Buy Now Pay Later” options in India and Southeast Asia. We are excited to partner with Amrish Rau and the Pine Labs team as they embark on their next growth phase. Read the full article on TechCrunch.
01/23/21
10/01/20
After a recent interview with portfolio manager Michael Kass, Litman Gregory reaffirmed its conviction in Baron Emerging Markets Fund (BEXIX) and Baron International Growth Fund (BINIX), highlighting Michael’s disciplined long-term approach to growth investing, superior understanding of secular trends and business models, and macro-risk overlay as reasons for their recommendation. Read the full article on Advisor Intelligence.
05/15/20
We are pleased to announce that Anuj Aggarwal has been appointed to the position of Assistant Portfolio Manager of Baron Emerging Markets Fund, working with Portfolio Manager Michael Kass. Anuj joined Baron in 2012 to support our emerging markets and international research efforts, and has a total of 12 years of research experience. He will continue to conduct equity research in his expanded role.
02/10/19
Baron is pleased to announce that Morningstar has added Baron Discovery Fund and Baron Global Advantage Fund to its “Prospects” list of up-and-coming or under-the-radar strategies that Morningstar Manager Research thinks might be worthy of full coverage someday. Currently, Baron Growth Fund, Baron Asset Fund, Baron Small Cap Fund, Baron Partners Fund, and Baron Emerging Markets Fund all have full coverage by Morningstar.
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%).
Baron Emerging Markets Fund – 4Q23 and 2023 Update | 01/19/24 |
---|---|
SAI | 04/28/23 |
Prospectus | 04/28/23 |
Summary Prospectus | 04/28/23 |
Fact Sheet | 12/31/23 |
Baron Select Funds Annual Financial Report | 12/31/23 |
Baron Select Funds Semi-Annual Financial Report | 06/30/23 |
1Q23 Baron Select Funds NPORT | 03/31/23 |
3Q23 Baron Select Funds NPORT | 09/30/23 |
Investors should consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus and summary prospectuses contain this and other information about the Funds. You may obtain them from the Funds’ distributor, Baron Capital, Inc., by calling 1-800-99BARON or visiting www.BaronFunds.com. Please read them carefully before investing.
Risks: In addition to the general stock market risk that securities may fluctuate in value, investments in developing countries may have increased risks due to a greater possibility of: settlement delays; currency and capital controls; interest rate sensitivity; corruption and crime; exchange rate volatility; and inflation or deflation. The Fund invests in companies of all sizes, including small and medium sized companies whose securities may be thinly traded and more difficult to sell during market downturns.
The Fund may not achieve its objectives.
Definitions (provided by BAMCO, Inc.): The MSCI EM (Emerging Markets) Index Net USD is designed to measure equity market performance of large and mid-cap securities across 23 Emerging Markets countries. The MSCI EM (Emerging Markets) IMI Growth Index Net USD is a free float-adjusted market capitalization index designed to measure equity market performance of large, mid and small-cap securities exhibiting overall growth characteristics across 23 Emerging Markets countries. The indexes and the Fund include reinvestment of dividends, net of withholding taxes, which positively impact the performance results. The indexes are unmanaged. The index performance is not Fund performance; one cannot invest directly into an index.
Definitions (provided by BAMCO, Inc.): Standard Deviation: measures the degree to which a fund’s performance has varied from its average performance over a particular time period. The greater the standard deviation, the greater a fund’s volatility (risk). Sharpe Ratio: is a risk-adjusted performance statistic that measures reward per unit of risk. The higher the Sharpe ratio, the better a fund’s risk adjusted performance. Alpha: measures the difference between a fund’s actual returns and its expected performance, given its level of risk as measured by beta. Beta: measures a fund’s sensitivity to market movements. The beta of the market is 1.00 by definition. R-Squared: measures how closely a fund’s performance correlates to the performance of the benchmark index, and thus is a measurement of what portion of its performance can be explained by the performance of the index. Values for R-Squared range from 0 to 100, where 0 indicates no correlation and 100 indicates perfect correlation. Tracking Error: measures how closely a fund’s return follows the benchmark index returns. It is calculated as the annualized standard deviation of the difference between the fund and the index returns. Information Ratio: measures the excess return of a fund divided by the amount of risk the fund takes relative to the benchmark index. The higher the information ratio, the higher the excess return expected of the fund, given the amount of risk involved. Upside Capture: explains how well a fund performs in time periods where the benchmark’s returns are greater than zero. Downside Capture: explains how well a fund performs in time periods where the benchmark’s returns are less than zero
Definitions (provided by Baron Capital, Inc.): EPS Growth Rate (3-5 Year): indicates the long-term forecasted EPS growth of the companies in the portfolio, calculated using the weighted average of the available 3-to-5 year forecasted growth rates for each of the stocks in the portfolio provided by Factset Estimates. The EPS Growth rate does not forecast the Fund’s performance. Price/ Earnings Ratio (trailing 12-months): is a valuation ratio of a company’s current share price compared to its actual earnings per share over the last twelve months. Price/Book Ratio: is a ratio used to compare a company’s stock price to its tangible assets, and it is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share. Price/Sales Ratio: is a valuation ratio of a stock’s price relative to its past performance. It represents the amount an investor is willing to pay for a dollar generated from a particular company’s operations. Price/Sales is calculated by dividing a stock’s current price by its revenue per share for the last 12 months. Weighted Harmonic Average: is a calculation that reduces the impact of extreme observation on the aggregate calculation by weighting them based on their size in the fund. Active Share is a term used to describe the share of a portfolio’s holdings that differ from that portfolio’s benchmark index. It is calculated by comparing the weight of each holding in the Fund to that holding’s weight in the benchmark. Positions with either a positive or negative weighting versus the benchmark have Active Share. An Active Share of 100% implies zero overlap with the benchmark. Active Share was introduced in 2006 in a study by Yale academics, M. Cremers and A. Petajisto, as a measure of active portfolio management.
One year turnover information to the most recent quarter and average market cap (unweighted) is available upon request.
The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and S&P Global Market Intelligence (“S&P”) and is licensed for use by BAMCO, Inc. and Baron Capital Management, Inc. (each an “Adviser” and collectively “Baron Capital” or the “Firm”). Neither MSCI, S&P, nor any other party involved in making or compiling the GICS or any GICS classification makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. All GICS structure changes that have occurred since 2016 have been applied retroactively in historical holdings-based analyses, including performance attribution. The Adviser may have reclassified/classified certain securities in or out of a sub-industry within a sector. 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
Form CRS - Baron Capital, Inc. | Form CRS - Baron Capital Management, Inc.
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).