NEW YORK--(BUSINESS WIRE)--Baron Capital is proud to announce that Baron Discovery Fund® (BDFIX) celebrated its 10th anniversary on September 30th, 2023.
The Fund, classified as a “Small Growth” stock fund by Morningstar, invests in earlier stage small-cap growth companies – stocks with market caps typically at or below the weighted average of the Russell 2000 Growth Index. These businesses tend to be in an early phase of their lifecycles, and the managers look to hold them over the long term.
The Fund is managed by Randy Gwirtzman and Laird Bieger, who, in addition to their 10 years as portfolio managers, worked closely together for 12 years prior to that as research analysts at Baron Capital. They each have 26 years of investment research experience. During their long history of collaboration, Randy and Laird have developed a distinct approach to investing in small-cap equities, focusing on long-term growth potential often overlooked in a vast and under-followed small-cap universe while using volatility to their advantage.
Annualized Returns as of 9/30/2023
|
1 Year |
3 Year |
5 Year |
10 Year/Since Inception |
Baron Discovery Fund (BDFIX)* |
9.25% |
-2.34% |
3.68% |
11.44% |
Russell 2000 Growth Index |
9.59% |
1.09% |
1.55% |
6.72% |
*Institutional shares. For retail and R6 shares, visit baronfunds.com.
Source: Morningstar, FTSE Russell
“We believe small-cap stocks’ growth potential and valuations in general remain very compelling compared with the broader U.S. equity market,” Laird said. “Baron Capital’s fundamental, long-term approach to growth investing can be especially effective in the small-cap arena, even with a host of short-term macro-economic uncertainties.”
“We like to say investors have never heard of many of the companies in which we invest, but they will. We look at our 10-year track record as a testament to that notion.” Randy added. “We look forward to applying the same investment approach we have honed over the last decade to managing the Fund for the next 10 years and many more beyond that.”
For more information on Baron Discovery Fund, please go to baronfunds.com.
2023 Baron Investment Conference
The 30th Annual Baron Investment Conference will take place on Friday, November 10, at the Metropolitan Opera House in New York. Over 5,000 shareholders and clients will join Baron Capital’s team of portfolio managers, analysts, and special guests ready to share insights into the current market environment, their investment thinking, and potential growth investment opportunities in 2024. For more information, please go to baronfunds.com.
About Baron Capital
Baron Capital is a premier asset management firm focused on delivering growth equity investment solutions to institutions, financial professionals, and retail investors. Founded in 1982, we started managing assets in 1983 and currently have approximately $40 billion in assets under management.
We offer 19 strategies, available as no-load mutual funds, separate accounts, sub-advisory services, collective investment trusts, and UCITs and other offshore vehicles. Our mutual funds include: Baron Asset Fund® (BARAX, BARIX), Baron Growth Fund® (BGRFX, BGRIX), Baron Small Cap Fund® (BSCFX, BSFIX), Baron Opportunity Fund® (BIOPX, BIOIX), Baron Fifth Avenue Growth Fund® (BFTHX, BFTIX), Baron Partners Fund® (BPTRX, BPTIX), Baron Focused Growth Fund® (BFGFX, BFGIX), Baron Discovery Fund (BDFFX, BDFIX), Baron International Growth Fund® (BIGFX, BINIX), Baron Emerging Markets Fund® (BEXFX, BEXIX), Baron Global Advantage Fund® (BGAFX, BGAIX), Baron Real Estate Fund® (BREFX, BREIX), Baron Health Care Fund® (BHCFX, BHCHX), Baron Real Estate Income Fund® (BRIFX, BRIIX), Baron WealthBuilder Fund® (BWBFX, BWBIX), Baron Durable Advantage Fund® (BDAFX, BDAIX), Baron New Asia Fund® (BNAFX, BNAIX), Baron FinTech Fund® (BFINX, BFIIX), and Baron Technology Fund® (BTEEX, BTECX).
Investors should consider the investment objectives, risk, and charges and expenses of the investment carefully before investing. Baron Funds are described in prospectuses that contain this and other information about the Funds. You should carefully read the prospectus before investing. You can read, print, or download a prospectus at baronfunds.com. Or call (800) 99-BARON to receive a prospectus in the mail.
Performance listed in the above table is net of annual operating expenses. Annual expense ratio for Institutional Shares as of September 30, 2022 was 1.06%. 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 Baron 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. For performance information current to the most recent month end, visit baronfunds.com or call 1-800-99-BARON.
The Fund’s 3-, 5- and 10-year historical performance was impacted by gains from IPOs and there is no guarantee that these results can be repeated or that the Fund’s level of participation in IPOs will be the same in the future.
Risks: Specific risks associated with investing in smaller companies include that the securities may be thinly traded and more difficult to sell during market downturns. 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 discussion of market trends is not intended as advice to any person regarding the advisability of investing in any particular security. The views expressed in this email reflect those of the respective writer. Some of our comments are based on management expectations and are considered “forward-looking statements.” Actual future results, however, may prove to be different from our expectations. Our views are a reflection of our best judgment at the time and are subject to change at any time based on market and other conditions and Baron has no obligation to update them.
The Russell 2000® Growth Index measures the performance of small-sized U.S. companies that are classified as growth. All rights in the FTSE Russell Index (the “Index”) vest in the relevant LSE Group company which owns the Index. Russell® is a trademark of the relevant LSE Group company and is used by any other LSE Group company under license. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. The Fund includes reinvestment of dividends, net of withholding taxes, while the Russell 2000® Growth Index includes reinvestment of dividends before taxes. Reinvestment of dividends positively impacts the performance results. The indexes are unmanaged. Index performance is not Fund performance. Investors cannot invest directly in an index.
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).
