Baron Real Estate Fund (BREIX)
Objective and Strategy
The investment goal of Baron Real Estate Fund is capital appreciation.
The Fund invests broadly in real estate businesses with significant growth potential. It maintains exposure across many industries and all capitalization ranges. Non-diversified.
Read Latest Fund Commentary Invest In Baron Funds TodayFund Description
Baron Real Estate Fund invests in securities of real estate and real estate related companies of all sizes.
Fund Resources
Jeff Kolitch on his approach to investing in real estate.
Latest Fact Sheets
Daily Price (NAV)
Prices for Jun 17 , 2013(BREIX)
| NAV | $19.96 |
|---|---|
| Daily Change ($) | $0.15 |
| Daily Change (%) | 0.76% |
| MTD | -1.14% |
| YTD | 13.15% |
| 52-Week High | $20.90 |
| 52-Week Low | $14.13 |
Fund Facts
| Inception Date | December 31, 2009 |
|---|---|
| Net Assets^ | $564.40 million |
| CUSIP | 06828M801 |
| Expense Ratio* | 1.44% / 1.10% |
Risk/Return Comparison
Baron Real Estate Fund is non-diversified, which means the volatility of the Fund’s returns may increase and expose the Fund to greater risk of loss in any given period. In addition to general market conditions, the value of the Fund will be affected by the strength of the real estate markets as well as by interest rate fluctuations, credit risk, environmental issues and economic conditions. 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.
Ratings/Rankings
Morningstar Ratings
Ratings based on risk-adjusted returns as of 3/31/2013Category: US OE Real Estate
| Overall | 5 Stars | out of 220 funds |
| 3 Year | 5 Stars | out of 220 funds |
The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and (if applicable) ten-year ratings.
Lipper Rankings
Rankings based on total returns as of 3/31/2013Category: Real Estate Funds
| 1 Year | 1 out of 237 funds |
| 3 Year | 7 out of 192 funds |
Stylebox
Baron Category: All-Cap Growth
| Large Value | Large Core | Large Growth | Large |
|---|---|---|---|
| Mid Value | Mid Core | Mid Growth | Mid |
| Small Value | Small Core | Small Growth | Small |
| Value | Core | Growth |
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 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 above. For performance information current to the most recent month end, click here.
The Fund may not achieve its objectives.
^All share classes combined. As of most recent month end.
*As of fiscal year ended 12/31/2011 the gross expense ratio of the Fund's Institutional Shares was 2.14%, but the net expense ratio was 1.10% (net of the Adviser's fee waivers).
Percentage based on net assets. Current and future portfolio holdings may change over time.
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.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) ©2013 Morningstar, Inc. All Rights Reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Lipper Analytical Services, Inc. rankings and fund performance do not reflect sales charges and are based on total return, including reinvestment of dividends and capital gains for the stated periods.
Performance Based Characteristics are based on trailing five-year and since-inception periods. Performance statistics for additional periods will be provided on request.Source: FactSet SPAR.
Definitions (provided by BAMCO, Inc.): The indexes are unmanaged. The MSCI USA IMI Extended Real Estate Index is a custom index calculated by MSCI for, and as requested by, BAMCO, Inc. The index includes real estate and real estate-related GICS classification securities. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI. The S&P 500 Index measures the performance of 500 widely held large-cap U.S. companies. The indexes and the Fund include reinvestment of interest, capital gains and dividends, which positively impact the performance results. The Morningstar Real Estate Average is not weighted and represents the straight average of annualized returns of each of the funds in the Real Estate category. The Fund's Institutional Shares have been included in the category since December 31, 2010. As of 12/31/12, the category consisted of 269, 263, 263 and 220 funds for the 3-month, year-to-date, 1- and 3-year periods. © 2013 Morningstar, Inc. All Rights Reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. This information does not constitute an offer to sell or a solicitation of any offer to buy securities by anyone in any jurisdiction where it would be unlawful under the laws of that jurisdiction to make such offer or solicitation.