The Fund primarily holds companies of all sizes with significant growth potential located in Asia. The portfolio managers' approach emphasizes securities in developing Asian markets, including frontier markets. Diversified.
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IN
The Fund primarily holds companies of all sizes with significant growth potential located in Asia. The portfolio managers' approach emphasizes securities in developing Asian markets, including frontier markets. Diversified.
As of May 20, 2024
NAV | $8.97 |
---|---|
Daily Change ($) | $0.01 |
Daily Change (%) | 0.11% |
YTD | 14.12% |
Inception Date | 7/30/2021 |
Portfolio Manager
years of exp 37
years at baron 17
Portfolio Manager
years of exp 16
years at baron 12
as of 05/20/24
NAV | Daily Change ($) | Daily Change (%) | MTD | QTD | YTD |
---|---|---|---|---|---|
$8.97 | $0.01 | 0.11% | 4.79% | 7.30% | 14.12% |
as of 04/30/24
QTD1 | YTD1 | 1 Year | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|---|
Gross | Net | |||||
BNAIX - Baron New Asia Fund - I | 2.39% | 8.91% | 14.44% | -5.50% | 6.93% | 1.20% |
MSCI AC Asia ex Japan Index | 1.25% | 3.65% | 7.52% | -5.57% | ||
MSCI AC Asia ex Japan IMI Growth Index | 1.50% | 4.29% | 7.44% | -8.04% | ||
MSCI AC Asia Index | -1.14% | 4.40% | 11.77% | -2.60% |
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/21.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain 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 03/31/24
YTD1 | 1 Year | Since Inception | Expense Ratio2 | ||
---|---|---|---|---|---|
Gross | Net | ||||
BNAIX - Baron New Asia Fund - I | 6.36% | 9.42% | -6.50% | 6.93% | 1.20% |
MSCI AC Asia ex Japan Index | 2.38% | 3.99% | -6.17% | ||
MSCI AC Asia ex Japan IMI Growth Index | 2.75% | 2.34% | -8.79% |
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/21.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain 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 reimburses 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 04/30/24
Year | Baron New Asia Fund | MSCI AC Asia ex Japan Index | MSCI AC Asia ex Japan IMI Growth Index | MSCI AC Asia Index |
---|---|---|---|---|
2023 | 5.79% | 5.98% | 4.37% | 11.07% |
2022 | -26.94% | -19.67% | -24.26% | -18.61% |
2021 | 1.70% | -3.19% | -3.67% | -1.45% |
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 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.
This information is not currently available.
NAV | $8.97 |
---|---|
Daily Change ($) | $0.01 |
Daily Change (%) | $0.01 |
MTD | 4.79% |
QTD | 7.30% |
YTD | 14.12% |
BNAIX - Baron New Asia Fund - I | MSCI AC Asia ex Japan Index | MSCI AC Asia ex Japan IMI Growth Index | MSCI AC Asia Index | |
---|---|---|---|---|
QTD1 | 2.39% | 1.25% | 1.50% | -1.14% |
YTD1 | 8.91% | 3.65% | 4.29% | 4.40% |
1 Year | 14.44% | 7.52% | 7.44% | 11.77% |
Since Inception | -5.50% | -5.57% | -8.04% | -2.60% |
Expense Ratio2 - Gross | 6.93% | |||
Expense Ratio2 - Net | 1.20% |
*As of 04/30/24
*Annualized as of 04/30/24
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/21.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain 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.
BNAIX - Baron New Asia Fund - I | MSCI AC Asia ex Japan Index | MSCI AC Asia ex Japan IMI Growth Index | |
---|---|---|---|
YTD1 | 6.36% | 2.38% | 2.75% |
1 Year | 9.42% | 3.99% | 2.34% |
Since Inception | -6.50% | -6.17% | -8.79% |
Expense Ratio2 - Gross | 6.93% | ||
Expense Ratio2 - Net | 1.20% |
*As of 03/31/24
*Annualized as of 04/30/24
1Not annualized.
2Expense ratios are based on fiscal year ended 12/31/21.
The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser reimburses certain 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 04/30/24
Year | Baron New Asia Fund | MSCI AC Asia ex Japan Index | MSCI AC Asia ex Japan IMI Growth Index | MSCI AC Asia Index |
---|---|---|---|---|
2023 | 5.79% | 5.98% | 4.37% | 11.07% |
2022 | -26.94% | -19.67% | -24.26% | -18.61% |
2021 | 1.70% | -3.19% | -3.67% | -1.45% |
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 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 03/31/24
Baron New Asia Fund | MSCI AC Asia ex Japan Index | |
---|---|---|
Net Assets | $4.64 million | |
# of Issuers / % of Net Assets | 72 / 97.2% | |
Turnover (2 Year Average) | 47.92% | |
Active Share | 68.1% | |
Median Market Cap | $16.61 billion | $7.23 billion |
Weighted Average Market Cap | $127.47 billion | $134.29 billion |
EPS Growth (3-5 year forecast) | 25.3% | 19.8% |
Price/Earnings Ratio (trailing 12-month) | 31.0 | 15.2 |
Price/Book Ratio | 3.2 | 1.8 |
Price/Sales Ratio | 3.1 | 1.3 |
as of 04/30/24
Open All Close All | Holding | Sector | % of Net Assets |
---|---|---|---|
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 | 7.3% | |
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 | 7.0% | |
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 | 4.4% | |
Trent LimitedBacked by the Tata Group, Trent Limited (TRENT.IN) is a leading direct-to-consumer retailer in India that sells private label apparel through its retail chains. It reported $1 billion in revenue for fiscal year 2023 and operates over 600 Westside and Zudio stores across 150 cities in India. |
Consumer Discretionary | 4.1% | |
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 | 4.0% | |
Indus Towers LimitedIndus Towers Limited (INDUSTOW.IN) is a leading telecommunications tower operator in India. The tower industry is structured as a duopoly, with Indus and a key competitor accounting for about 60% of the market share. |
Communication Services | 4.0% | |
Jio Financial Services LimitedJio Financial Services Limited (JIOFIN.IN) is a non-banking financial company in India. It offers various financial products and services including loans, insurance, and payment solutions to individuals and small businesses. |
Financials | 3.8% | |
Zomato LimitedZomato Limited (ZOMATO.IN) is India's leading food delivery platform, with roughly 50% market share. The company also has a classified advertising business. |
Consumer Discretionary | 3.5% | |
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 | 2.9% | |
Godrej Consumer Products LimitedGodrej Consumer Products Limited (GCPL.IN) is a leading fast-moving consumer goods company in India with brands across three categories: personal care, home care, and hair care. International operations account for roughly 45% of consolidated revenue. |
Consumer Staples | 2.6% | |
Total |
43.5% |
as of 03/31/24
Name | Sector | % of Net Assets |
---|---|---|
Taiwan Semiconductor Manufacturing Company Limited |
Information Technology | 5.7% |
Samsung Electronics Co., Ltd. |
Information Technology | 5.0% |
Bharti Airtel Limited PP |
Communication Services | 4.4% |
Trent Limited |
Consumer Discretionary | 3.9% |
Jio Financial Services Limited |
Financials | 3.9% |
Tencent Holdings Limited - ADR |
Communication Services | 3.9% |
Zomato Limited |
Consumer Discretionary | 3.5% |
Reliance Industries Limited |
Energy | 2.8% |
Indus Towers Limited |
Communication Services | 2.6% |
Godrej Consumer Products Limited |
Consumer Staples | 2.5% |
Taiwan Semiconductor Manufacturing Company Limited |
Information Technology | 2.5% |
Bharti Airtel Limited |
Communication Services | 2.3% |
Bajaj Finance Limited |
Financials | 1.9% |
PT Bank Rakyat Indonesia (Persero) Tbk |
Financials | 1.9% |
Alibaba Group Holding Limited - ADR |
Consumer Discretionary | 1.9% |
Titan Co. Ltd. |
Consumer Discretionary | 1.8% |
Delta Electronics, Inc. |
Information Technology | 1.5% |
SBI Life Insurance Company Limited 144A |
Financials | 1.5% |
Coupang, Inc. |
Consumer Discretionary | 1.5% |
Tokyo Electron Limited |
Information Technology | 1.4% |
HDFC Bank Limited |
Financials | 1.3% |
Tata Communications Limited |
Communication Services | 1.3% |
Full Truck Alliance Co. Ltd. - ADR |
Industrials | 1.3% |
SK hynix Inc. |
Information Technology | 1.3% |
Hoya Corp |
Health Care | 1.2% |
Kirloskar Oil Engines Limited |
Industrials | 1.2% |
Tata Consumer Products Limited |
Consumer Staples | 1.2% |
Kweichow Moutai Co., Ltd. |
Consumer Staples | 1.2% |
PDD Holdings Inc. |
Consumer Discretionary | 1.2% |
Techtronic Industries Co. Ltd. |
Industrials | 1.1% |
NARI Technology Co. Ltd. |
Industrials | 1.1% |
InterGlobe Aviation Limited |
Industrials | 1.1% |
Tube Investments of India Limited |
Consumer Discretionary | 1.0% |
Yum China Holdings Inc. |
Consumer Discretionary | 1.0% |
Kaynes Technology India Limited |
Information Technology | 1.0% |
Godrej Properties Limited |
Real Estate | 1.0% |
Baidu, Inc. |
Communication Services | 1.0% |
Kingdee International Software Group Company Limited |
Information Technology | 0.9% |
JM Financial Limited |
Financials | 0.8% |
Shenzhou International Group Holdings Ltd. |
Consumer Discretionary | 0.8% |
Keyence Corporation |
Information Technology | 0.8% |
Mahindra & Mahindra Limited |
Consumer Discretionary | 0.8% |
HD Hyundai Heavy Industries Co., Ltd. |
Industrials | 0.8% |
Max Healthcare Institute Limited |
Health Care | 0.8% |
Dixon Technologies Ltd. |
Consumer Discretionary | 0.8% |
Amber Enterprises India Ltd. |
Consumer Discretionary | 0.7% |
Korea Aerospace Industries, Ltd. |
Industrials | 0.7% |
Tata Consultancy Services Limited |
Information Technology | 0.7% |
360 ONE WAM Limited |
Financials | 0.7% |
China Mengniu Dairy Co. Ltd. |
Consumer Staples | 0.7% |
Budweiser Brewing Company APAC Limited 144A |
Consumer Staples | 0.7% |
HD Korea Shipbuilding & Offshore Engineering Co., Ltd. |
Industrials | 0.7% |
Cholamandalam Investment and Finance Company Limited |
Financials | 0.6% |
Kanzhun Limited |
Communication Services | 0.6% |
Tencent Music Entertainment Group |
Communication Services | 0.6% |
Jiangsu Hengli Hydraulic Co., Ltd. |
Industrials | 0.6% |
Aarti Pharmalabs Limited |
Health Care | 0.5% |
Aster DM Healthcare Limited |
Health Care | 0.5% |
Power Grid Corporation of India Limited |
Utilities | 0.5% |
Thermax Limited |
Industrials | 0.5% |
Galaxy Entertainment Group Limited |
Consumer Discretionary | 0.5% |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Class A |
Health Care | 0.5% |
Kingsoft Corporation Ltd. |
Communication Services | 0.5% |
Zai Lab Limited -Adr |
Health Care | 0.5% |
AIA Group Limited |
Financials | 0.5% |
Midea Group Co., Ltd.- A |
Consumer Discretionary | 0.5% |
Venustech Group Inc. - Class A |
Information Technology | 0.4% |
Hong Kong Exchanges and Clearing Limited |
Financials | 0.4% |
Samsung SDI Co., Ltd. |
Information Technology | 0.4% |
eMemory Technology Inc. |
Information Technology | 0.4% |
Neogen Chemicals Limited |
Materials | 0.4% |
Estun Automation Co., Ltd. |
Industrials | 0.3% |
Baidu, Inc. |
Communication Services | 0.2% |
Lufax Holding Ltd |
Financials | 0.1% |
Divi’s Laboratories Limited |
Health Care | 0.0% |
As of 04/30/24
As of 04/30/24
As of 04/30/24
Quarterly as of 03/31/24
Top Contributors | Average Weight | Contribution |
---|---|---|
Taiwan Semiconductor Manufacturing Company Limited | 9.04% | 2.56% |
Jio Financial Services Limited | 3.27% | 1.41% |
Zomato Limited | 3.26% | 1.23% |
Bharti Airtel Limited | 5.52% | 1.22% |
Trent Limited | 3.73% | 1.01% |
Quarterly as of 03/31/24
Top Detractors | Average Weight | Contribution |
---|---|---|
Zai Lab Limited | 0.63% | -0.35% |
HDFC Bank Limited | 1.43% | -0.32% |
PDD Holdings Inc. | 1.22% | -0.30% |
Kingdee International Software Group Company Limited | 0.90% | -0.29% |
JM Financial Limited | 1.07% | -0.29% |
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”.
07/30/21
We are pleased to announce the launch of Baron New Asia Fund. The Fund, which is managed by Michael Kass and Anuj Aggarwal, is a differentiated strategy emphasizing higher growth, strategic, and forward looking investment opportunities in the Asia Pacific region.
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%).
SAI | 04/26/24 |
---|---|
Prospectus | 04/26/24 |
Summary Prospectus | 04/26/24 |
Fact Sheet | 03/31/24 |
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 |
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. In addition, 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. Government actions, bureaucratic obstacles and inconsistent economic reform within the Indian government have had a significant effect on the Indian economy and could adversely affect market conditions, economic growth and the profitability of private enterprises in India.
The Fund may not achieve its objectives.
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.
The MSCI AC Asia Ex-Japan Index Net (USD) and the MSCI AC Asia Index Net (USD) are unmanaged, free float-adjusted market capitalization weighted indexes. The MSCI AC Asia Ex-Japan Index measures the performance of large and mid cap equity securities representation across 2 of 3 developed markets countries (excluding Japan) and 9 emerging markets countries in Asia. The MSCI AC Asia Index measures performance of large and midcap securities representation across developed and emerging markets countries in Asia, including Japan. MSCI is the source and owner of the trademarks, service marks and copyrights related to the MSCI Indexes. The indexes and the Fund include reinvestment of dividends, net of foreign withholding taxes, which positively impact the performance results. Index performance is not fund performance. Investors cannot invest directly in an index.
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.
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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).