META - Baron Global Advantage Fund Q4 2023 Shareholder Letter
2024-01-28 11:00:00 ET
Summary
- Baron is an asset management firm focused on delivering growth equity investment solutions known for a long-term, fundamental, active approach to growth investing.
- Baron Global Advantage Fund® (the Fund) was up 14.8% (Institutional Shares) during the fourth quarter, compared to the 11.0% gain for the MSCI ACWI Index (the Index) and the 12.7% gain for the MSCI ACWI Growth Index, the Fund’s benchmarks.
- For the year, the Fund finished up 25.6% compared to gains of 22.2% and 33.2% for the benchmarks, respectively.
- We have a view on many of these important topics, but we do not have the answers. The range of outcomes continues to be extremely wide, creating a challenging environment for investors.
Dear Baron Global Advantage Fund Shareholder
Performance
Finally… a good quarter.
Baron Global Advantage Fund® (the Fund) was up 14.8% (Institutional Shares) during the fourth quarter, compared to the 11.0% gain for the MSCI ACWI Index (the Index) and the 12.7% gain for the MSCI ACWI Growth Index, the Fund’s benchmarks. For the year, the Fund finished up 25.6% compared to gains of 22.2% and 33.2% for the benchmarks, respectively.
Table I. Performance† Annualized for periods ended December 31, 2023
| Baron Global Advantage Fund Retail Shares [1] ,[2] |
| Baron Global Advantage Fund Institutional Shares 1,2 |
| MSCI ACWI Index 1 |
| MSCI ACWI Growth Index 1 |
| Three Months 3 |
| 14.72% |
| 14.80% |
| 11.03% |
| 12.74% |
| One Year |
| 25.26% |
| 25.56% |
| 22.20% |
| 33.22% |
| Three Years |
| (15.23)% |
| (15.03)% |
| 5.75% |
| 3.66% |
| Five Years |
| 9.60% |
| 9.88% |
| 11.72% |
| 14.58% |
| Ten Years |
| 8.79% |
| 9.04% |
| 7.93% |
| 10.06% |
| Since Inception (April 30, 2012) |
| 10.30% |
| 10.55% |
| 9.11% |
| 10.85% |