Baron FinTech Fund Q4 2024 Shareholder Letter
Source: SeekingAlpha
2025-02-21 05:00:00 ET
Summary
- Baron FinTech Fund increased in the fourth quarter of 2024, outperforming its benchmark, the FactSet Global FinTech Index.
- Top contributors were Apollo Global Management, Inc., LPL Financial Holdings Inc., and Wise Plc.
- Top detractors were MercadoLibre, Inc., Nu Holdings Ltd., and Arch Capital Group Ltd.
- We participated in the IPO of ServiceTitan, Inc. the leading provider of business management software for the field service industry; and initiated a position in Robinhood Markets, Inc., an online brokerage that offers free trading across stocks, options, and cryptocurrencies.
Dear FinTech Fund Shareholder:
In the quarter ended December 31, 2024, Baron FinTech Fund® (the Fund) rose 5.29% (Institutional Shares) compared with a 4.24% increase for the FactSet Global FinTech Index (the Benchmark). Since inception, the Fund has risen at a 12.17% annualized rate compared with 3.93% for the Benchmark.
Table I. Performance† - Annualized for periods ended December 31, 2024
| Baron FinTech Fund Retail Shares1,2 | Baron FinTech Fund Institutional Shares1,2 | FactSet Global FinTech Index 1 | S&P 500 Index 1 | MSCI ACWI Index 1 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Three Months 3 | 5.23% | 5.29% | 4.24% | 2.41% | (0.99)% | |||||
| One Year | 22.87% | 23.14% | 14.17% | 25.02% | 17.49% | |||||
| Three Years | 1.25% | 1.50% | (2.24)% | 8.94% | 5.44% | |||||
| Five Years and Since Inception(December 31, 2019) | 11.90% | 12.17% | 3.93% | 14.53% | 10.06% |
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Baron FinTech Fund Q4 2024 Shareholder Letter
Baron Capital Enterprise Inc
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