TTD - Baron Technology Fund Q4 2023 Shareholder Letter

2024-02-17 09:20:00 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.
• During Q4 2023, Baron Technology Fund rose 18.95% (inst. shares), outperforming the MSCI ACWI Information Technology Index, which increased 17.56%.
• We remain steadfast in our belief that exposure to the broader IT sector should be a material part of an investor’s portfolio for the long term.

Dear Baron Technology Fund Shareholder

Functioning

During the fourth quarter, Baron Technology Fund ( BTECX , the Fund) rose 18.95% (Institutional Shares), outperforming the MSCI ACWI Information Technology Index, which increased 17.56%. The Fund also outperformed the broader S&P 500 Index, which rose 11.69%. For the full year, the Fund gained 63.38%, ahead of both indexes, which returned 51.02% and 26.29%, respectively....

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