KNSL - Baron WealthBuilder Fund Q4 2023 Shareholder Letter
2024-02-18 07:20:00 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.
- Baron WealthBuilder Fund appreciated 11.42% (inst.) in Q4 2023, and for 2023, the Fund gained 25.73%.
- The Fund’s absolute returns during 2023 were also strong - in 2023, the Fund gained 25.73%.
- The Fund’s portfolioof top performing Baron Funds owns shares in approximately 400 businesses lookingthrough the Fund to the underlying BaronFunds portfolios.
- We believe small-and mid-cap growthbusinesses offer extremely attractive return potentialrelative to their risk over the long term.
Dear Baron WealthBuilder Fund Shareholder:
Performance
Table I.
Performance
Annualized for periods ended December 31, 2023
| Baron Wealth Builder Fund Retail Shares 1,2 |
| Baron Wealth Builder Fund Institutional Shares 1,2 |
| Baron Wealth Builder Fund TA Shares 1,2 |
| S&P 500 Index 1 |
| MSCI ACWI Index 1 |
| Three Months3 |
| 11.39% |
| 11.42% |
| 11.42% |
| 11.69% |
| 11.03% |
| One Year |
| 25.36% |
| 25.73% |
| 25.66% |
| 26.29% |
| 22.20% |
| Three Years |
| (0.62)% |
| (0.37)% |
| (0.38)% |
| 10.00% |
| 5.75% |
| Five Years Since Inception |
| 16.78% |
| 17.06% |
| 17.05% |
| 15.69% |
| 11.72% |
| Since Inception (December 29, 2017) |
| 12.52% |
| 12.78% |
| 12.77% |
| 12.07% |
| 7.88% |