Baron International Growth Fund (BIGFX)
- Facts & Characteristics
- Top Ten Holdings
- Portfolio Holdings
- Sector Breakdown
- Country Breakdown
- Top Contributors & Detractors
Fund Description
Baron International Growth Fund invests primarily in non-U.S. growth companies.
Fund Resources
Michael Kass sees growth opportunities overseas.
Latest Fact Sheets
Facts & Characteristics as of March 31, 2013
| Inception Date | December 31, 2008 |
| Net Assets (All share classes combined as of 5/31/2013) | $54.29 million |
| # of Equity Securities / % of Net Assets | 71/97.0% |
| Turnover (3 Year Average) | 41.86% |
| Median Market Cap | $3.05 billion |
| Weighted Average Market Cap | $10.94 billion |
| CUSIP | 06828M306 |
| Gross Expense Ratio (as of FYE 12/11)* | 1.73% |
| Less: Reimbursement of Expenses by Adviser (as of FYE 12/11) | (0.23)% |
| Net Expense Ratio (as of FYE 12/11) | 1.50% |
| EPS Growth (3-5 year forecast)† | 18.8% |
| Price/Earnings Ratio (trailing 12-month)*† | 20.5 |
| Price/Book Ratio*† | 2.5 |
| Price/Sales Ratio*† | 2.3 |
Top Ten Holdings as of May 31, 2013
| Holding | Sector | Percentage* |
|---|---|---|
|
Ryanair Holdings plc (RYAA.Y) is a low-cost airline that operates 300 aircraft and flies 79 million passengers per year in Europe.
|
Industrials | 3.5% |
|
Eurofins Scientific SE (ERF.PAR) provides analytical testing services to clients in the food, pharmaceutical, and environmental sectors.
|
Health Care | 2.9% |
|
SINA Corporation (SINA) is one of the leading Internet portals in China. It also owns SINA Weibo, a popular Twitter-like service that is one of the leading social media assets in China with over 500 million registered accounts.
|
Information Technology | 2.7% |
|
SodaStream International Ltd. (SODA) develops, manufactures, distributes, and markets home carbonation systems. The company’s products include drink maker machines, soda caps, carbonators, reusable carbonation bottles, and flavored syrups.
|
Consumer Discretionary | 2.6% |
|
Softbank Corp. (9984.JP) is a leading provider of mobile communications, broadband Internet access and eCommerce services in Japan, with additional investments in Internet-related businesses.
|
Telecommunication Services | 2.5% |
|
Compagnie Financière Richemont SA (CFR.VX) is a leading high-end luxury company with an extensive brand portfolio including Cartier, Van Cleef & Arpels, and Piaget. Richemont operates five segments, of which jewelry and watches make up almost 80%.
|
Consumer Discretionary | 2.3% |
|
Mitsui Fudosan Co. Ltd. (8801.JP) is a blue chip mixed-use Japanese property developer and real estate operating company. Mitsui develops office, retail, residential, and senior living properties, and then either leases or sells the completed properties.
|
Financials | 2.1% |
|
FANUC Corp. (6954.JP) is a leading developer and manufacturer of factory robots and automation equipment.
|
Industrials | 2.1% |
|
The Japan Steel Works Ltd.
|
Industrials | 2.0% |
|
Agilent Technologies, Inc.
|
Health Care | 1.9% |
| Total | 24.6% | |
Portfolio Holdings as of March 31, 2013
| Holding | Sector | Market Cap ($Bn) | Percentage* |
|---|---|---|---|
| Eurofins Scientific SE | Health Care | $3.125 | 4.5% |
| Cash & Cash Equivalents | Cash & Cash Equivalents | - | 3.0% |
| Ryanair Holdings plc | Industrials | $12.038 | 3.0% |
| Softbank Corp. | Telecommunication Services | $54.716 | 2.3% |
| Mitsui Fudosan Co. Ltd. | Financials | $25.019 | 2.2% |
| Compagnie Financière Richemont SA | Consumer Discretionary | $45.063 | 2.0% |
| FANUC Corp. | Industrials | $36.613 | 2.0% |
| Intertek Group plc | Industrials | $8.227 | 2.0% |
| Grifols SA | Health Care | $11.624 | 2.0% |
| SodaStream International Ltd. | Consumer Discretionary | $1.013 | 2.0% |
| Kroton Educacional SA | Consumer Discretionary | $3.451 | 2.0% |
| Syngenta AG | Materials | $38.997 | 1.9% |
| Symrise AG | Materials | $4.682 | 1.8% |
| Agilent Technologies, Inc. | Health Care | $14.570 | 1.8% |
| Standard Chartered PLC | Financials | $61.711 | 1.8% |
| Check Point Software Technologies Ltd. | Information Technology | $9.675 | 1.7% |
| Kakaku.com, Inc. | Information Technology | $1.459 | 1.7% |
| Sina Corporation | Information Technology | $3.229 | 1.7% |
| NQ Mobile, Inc. | Information Technology | $0.429 | 1.7% |
| Radware Ltd. | Information Technology | $0.772 | 1.7% |
| Experian plc | Industrials | $17.376 | 1.6% |
| Julius Baer Group Ltd. | Financials | $8.702 | 1.6% |
| Arch Capital Group Ltd. | Financials | $6.989 | 1.5% |
| Financial Technologies Ltd. | Information Technology | $0.604 | 1.5% |
| Ingenico SA | Information Technology | $3.051 | 1.5% |
| TOTVS SA | Information Technology | $3.313 | 1.5% |
| Premier Oil plc | Energy | $3.125 | 1.5% |
| Anhanguera Educacional Participações SA | Consumer Discretionary | $2.350 | 1.5% |
| Bridgestone Corp. | Consumer Discretionary | $27.209 | 1.5% |
| The Japan Steel Works Ltd. | Industrials | $1.957 | 1.5% |
| Sanrio Co. Ltd. | Consumer Discretionary | $3.941 | 1.5% |
| Brambles Ltd. | Industrials | $13.728 | 1.5% |
| Wynn Macau Ltd. | Consumer Discretionary | $13.800 | 1.4% |
| Qiagen N.V. | Health Care | $4.944 | 1.4% |
| Tower Bersama Infrastructure Tbk PT | Telecommunication Services | $2.986 | 1.4% |
| Seadrill Partners, LLC | Energy | $1.148 | 1.4% |
| Deutsche Post AG | Industrials | $27.857 | 1.4% |
| Amplifon SpA | Health Care | $1.153 | 1.3% |
| Crescent Point Energy Corp. | Energy | $14.029 | 1.3% |
| Opera Software ASA | Information Technology | $0.766 | 1.3% |
| Exillon Energy plc | Energy | $0.376 | 1.3% |
| RIB Software AG | Information Technology | $0.220 | 1.3% |
| conwert Immobilien Invest SE | Financials | $0.930 | 1.3% |
| ENDO Lighting Corp. | Industrials | $0.444 | 1.3% |
| Sony Financial Holdings, Inc. | Financials | $6.469 | 1.2% |
| Daum Communications Corp. | Information Technology | $1.099 | 1.2% |
| DEN Networks Ltd. | Consumer Discretionary | $0.463 | 1.2% |
| PATRIZIA Immobilien AG | Financials | $0.533 | 1.2% |
| Tencent Holdings, Ltd. | Information Technology | $58.469 | 1.1% |
| Domino's Pizza Enterprises Ltd. | Consumer Discretionary | $0.823 | 1.1% |
| Aggreko plc | Industrials | $7.265 | 1.1% |
| Lundin Petroleum AB | Energy | $6.879 | 1.0% |
| Deutsche Wohnen AG | Financials | $2.922 | 1.0% |
| KT Skylife Co. Ltd. | Consumer Discretionary | $1.416 | 1.0% |
| Luk Fook Holdings (International) Ltd. | Consumer Discretionary | $1.890 | 1.0% |
| Kingdee International Software Group Co. Ltd. | Information Technology | $0.420 | 0.9% |
| Zee Entertainment Enterprises Ltd. | Consumer Discretionary | $3.787 | 0.9% |
| 21Vianet Group, Inc. | Information Technology | $0.526 | 0.9% |
| Constellation Software, Inc. | Information Technology | $2.610 | 0.9% |
| Core Laboratories N.V. | Energy | $6.376 | 0.8% |
| Hathway Cable & Datacom Ltd | Consumer Discretionary | $0.707 | 0.8% |
| Agrinos AS | Materials | $0.168 | 0.8% |
| DNB ASA | Financials | $23.971 | 0.8% |
| Qualicorp SA | Health Care | $2.614 | 0.7% |
| Media Nusantara Citra Tbk PT | Consumer Discretionary | $4.025 | 0.7% |
| Sarana Menara Nusantara Tbk PT | Telecommunication Services | $2.730 | 0.6% |
| Wotif.com Holdings Ltd. | Consumer Discretionary | $1.080 | 0.5% |
| Mytrah Energy Ltd. | Utilities | $0.224 | 0.4% |
| bwin.party digital entertainment plc | Consumer Discretionary | $1.762 | 0.4% |
| Sun TV Network Ltd. | Consumer Discretionary | $2.839 | 0.4% |
| Borders & Southern Petroleum plc | Energy | $0.131 | 0.3% |
| Better Place, Inc. | Utilities | - | 0.0% |
| Total | 100.0% | ||
Sector Breakdown as of May 31, 2013
Back to TopCountry Breakdown As of May 31, 2013
| Country Breakdown | ||
|---|---|---|
| Developed | % of Net Assets | |
| Australia | 3.1% | |
| Canada | 2.4% | |
| France | 4.6% | |
| Germany | 7.9% | |
| Hong Kong | 1.6% | |
| Ireland | 3.5% | |
| Israel | 5.6% | |
| Italy | 0.9% | |
| Japan | 15.2% | |
| Norway | 4.0% | |
| Spain | 1.5% | |
| Sweden | 0.9% | |
| Switzerland | 6.6% | |
| United Kingdom | 8.5% | |
| United States | 4.1% | |
| Country Breakdown | ||
|---|---|---|
| Developing | % of Net Assets | |
| Brazil | 4.2% | |
| China | 8.1% | |
| India | 6.1% | |
| Indonesia | 2.3% | |
| Korea | 2.6% | |
| Mexico | 0.7% | |
| Russia | 1.3% | |
Top Contributors & Detractors as of March 31, 2013
3 Months
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Life Sciences Tools & Services | 7.20% | 1.23% |
| Wireless Telecommunication Services | 4.38% | 0.60% |
| Airlines | 2.74% | 0.52% |
| Specialty Stores | 1.77% | 0.32% |
| Tires & Rubber | 1.30% | 0.32% |
| Top Detractors | Average Weight | Contribution |
| Industrial Machinery | 3.47% | -0.69% |
| Fertilizers & Agricultural Chemicals | 2.90% | -0.55% |
| Application Software | 6.29% | -0.45% |
| Oil & Gas Exploration & Production | 5.41% | -0.27% |
| Gold | 0.97% | -0.21% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Eurofins Scientific SE | 4.02% | 0.97% |
| Kakaku.com, Inc. | 1.56% | 0.70% |
| Ryanair Holdings plc | 2.74% | 0.52% |
| Softbank Corp. | 1.81% | 0.47% |
| NQ Mobile, Inc. | 1.19% | 0.46% |
| Top Detractors | Average Weight | Contribution |
| Financial Technologies Ltd. | 1.90% | -0.79% |
| Velti plc | 1.06% | -0.71% |
| Agrinos AS | 1.09% | -0.61% |
| FANUC Corp. | 1.95% | -0.38% |
| The Japan Steel Works Ltd. | 1.52% | -0.32% |
12 Months
| By Sub-Industry | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Life Sciences Tools & Services | 6.88% | 2.87% |
| Semiconductors | 1.60% | 1.68% |
| Wireless Telecommunication Services | 4.75% | 1.60% |
| Biotechnology | 1.97% | 1.35% |
| Education Services | 2.71% | 1.35% |
| Top Detractors | Average Weight | Contribution |
| Internet Software & Services | 8.42% | -3.39% |
| Application Software | 6.93% | -1.33% |
| Gold | 1.33% | -1.22% |
| Communications Equipment | 0.99% | -1.16% |
| Casinos & Gaming | 2.46% | -1.11% |
| By Holdings | ||
|---|---|---|
| Top Contributors | Average Weight | Contribution |
| Eurofins Scientific SE | 3.81% | 2.52% |
| Mellanox Technologies Ltd. | 1.60% | 1.68% |
| Grifols SA | 1.97% | 1.35% |
| Softbank Corp. | 2.42% | 1.27% |
| Tower Bersama Infrastructure Tbk PT | 1.80% | 1.23% |
| Top Detractors | Average Weight | Contribution |
| Velti plc | 1.55% | -2.84% |
| Ubiquiti Networks, Inc. | 0.41% | -1.26% |
| Kirkland Lake Gold, Inc. | 1.33% | -1.22% |
| NII Holdings, Inc. | 0.32% | -1.03% |
| bwin.party digital entertainment plc | 1.04% | -0.88% |
Facts & Characteristics-Price/Book Ratio and Price/Sales Ratio are calculated using the Weighted Harmonic Average. Source: FactSet PA. Internal valuation metrics may differ.
*Top Ten Holdings, Portfolio Hodings and Sector breakdown based on net assets. Portfolio holdings may change over time. Positions smaller than 0.05% round to 0.0%.
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"), unless otherwise stated that they have been reclassified or classified by the Adviser. All GICS data is provided "as is" with no warranties.
^The Adviser has reclassified/classified certain securities in or out of this Sub-Industry. Such reclassifications/classifications are not supported by S&P or MSCI.
Top Contributors & Detractors Source: FactSet PA.
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.
One year turnover information to the most recent quarter and average market cap (unweighted) is available upon request.