2024-05-22 08:00:00 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 WealthBuilder Fund’s performance in the first three months of 2024 was below our expectations.
- The significant reason for the Fund’s underperformance this quarter stemmed from our underlying investment in Tesla, Inc.
- Volatility has remained high, but we are hopeful that interest rate increases, policy factors, and COVID hangovers are ending.
Dear Baron WealthBuilder Fund Shareholder
Performance
Baron WealthBuilder Fund®'s ( BWBIX ) (the Fund) performance in the first three months of 2024 was below our expectations. While the Fund increased 4.87% (Institutional Shares), it trailed both its primary benchmark, the S&P 500 Index ( SP500 , SPX , the Index), and the MSCI ACWI Index (Global Index), which were up 10.56% and 8.20%, respectively. The Morningstar Aggressive Allocation Category Average (the Peer Group) increased 7.28% in the quarter.*...
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For further details see:
Baron WealthBuilder Fund Q1 2024 Shareholder Letter