2024-05-11 04:10:00 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 Partners Fund's performance in the first quarter of 2024 was disappointing, with a decline of 9.01%.
- Over the past three years, the Fund's annualized return was negative 0.20% compared to the benchmark's positive return of 4.62%.
- The Fund's long-term performance remains strong, with annualized returns of 25.16%, 17.37%, and 20.45% over the past 5, 10, and 15 years, respectively.
Dear Baron Partners Fund Shareholder:
Performance
The performance of Baron Partners Fund® ( BPTIX, the Fund) in the first three months of 2024 was disappointing. The Fund declined 9.01% (Institutional Shares), trailing both its primary benchmark, the Russell Midcap Growth Index (the Index), and the large cap S&P 500 Index ( SP500 , SPX ), which were up 9.50% and 10.56%, respectively. The Morningstar Large Growth Category average (the Peer Group) increased 11.92% in the quarter.*
Table I. Performance Annualized for periods ended March 31, 2024
Baron Partners Fund Retail Shares 1,2,3 | Baron Partners Fund Institutional Shares 1,2,3,4 | Russell Midcap Growth Index 2 | S&P 500 Index 2 | |
Three Months 5 | (9.06)% | (9.01)% | 9.50% | 10.56% |
One Year | 5.52% | 5.78% | 26.28% | 29.88% |
Three Years | (0.45)% | (0.20)% | 4.62% | 11.49% |
Five Years | 24.84% | 25.16% | 11.82% | 15.05% |
Ten Years | 17.06% | 17.37% | 11.35% | 12.96% |
Fifteen Years | 20.13% | 20.45% | 15.64% | 15.63% |
Since Conversion (April 30, 2003) | 15.97% | 16.18% | 11.72% | 10.86% |
Since Inception (January 31,1992) | 14.56% | 14.70% | 10.14% | 10.42% |
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For further details see:
Baron Partners Fund Q1 2024 Shareholder Letter