ASMLF - Baron Technology Fund Q1 2024 Shareholder Letter

2024-05-15 06:05:00 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 Technology Fund outperformed the MSCI ACWI Information Technology Index and the S&P 500 Index in the first quarter, rising 14.73%.
• The Fund's performance was driven by investments in technology leaders such as Nvidia, Amazon, Microsoft, and Meta Platforms.
• The Fund remains exposed to AI and other industry trends driving the performance of these technology leaders.

Dear Baron Technology Fund Shareholder:

Performance

During the first quarter, Baron Technology Fund (BTECX) (the Fund) rose 14.73% (Institutional Shares), outperforming the MSCI ACWI Information Technology Index (the Benchmark), which increased 12.05%. The Fund also outperformed the broader S&P 500 Index, which rose 10.56%....

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