The fund invests for the long term primarily in equity securities in the form of common stock of U.S. mid-sized growth companies. BAMCO, Inc. ("BAMCO" or the "Adviser") defines mid-sized companies as those, at the time of purchase, with market capitalizations above $2.5 billion or the smallest market cap stock in the Russell Midcap Growth Index at reconstitution, whichever is larger, and below the largest market cap stock in the Russell Midcap Growth Index at reconstitution.

Nasdaq

BARAX

The fund invests primarily in equity securities in the form of common stock of U.S. large-sized companies. The Adviser seeks to invest primarily in what the advisor believes are unique, well-managed, competitively advantaged businesses that generate significant excess free cash flow that is consistently returned to shareholders in the form of stock buybacks and/or dividends.

BDAIX

The investment seeks capital appreciation through investments primarily in securities of small-sized growth companies. The fund is a diversified fund that invests for the long term primarily in equity securities in the form of common stock of U.S. small-sized growth companies. The Adviser seeks to invest in businesses the advisor believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation.

BDFIX

The investment seeks capital appreciation. The fund normally invests 80% of its net assets in equity securities in the form of common stock of growth companies domiciled, headquartered or whose primary business activities or principal trading markets are in developing countries. A developing country is a country included in the MSCI Emerging Markets (EM) Index and other countries determined by the Adviser to be developing countries based on classifications made by the International Monetary Fund or on country characteristics similar to those of the countries in the EM index.

BEXIX

The fund invests for the long term primarily in equity securities in the form of common stock of U.S. small- and mid-sized growth companies. The Adviser defines small- and mid-sized companies as those, at the time of purchase, with market capitalizations up to the largest market cap stock in the Russell Midcap Growth Index at reconstitution. Because of its long-term approach, the fund could have a significant percentage of its assets invested in securities that have appreciated beyond their original market cap ranges. It is non-diversified.

BFGFX

The investment seeks capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets in securities of companies that develop, use, or rely on innovative technologies or services, in a significant way, for banking, lending, capital markets, financial data analytics, insurance, payments, asset management, or wealth management. It may purchase securities of companies of any market capitalization and may invest in foreign stocks, including emerging market securities.

BFIIX

The investment seeks capital appreciation through investments primarily in securities of large-sized growth companies. The fund invests primarily in equity securities in the form of common stock of U.S. large-sized growth companies. The Adviser seeks to invest in businesses the advisor believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation.

BFTHX

The investment seeks capital appreciation. The fund is a diversified fund that, under normal circumstances, invests primarily in equity securities in the form of common stock of established and emerging markets companies located throughout the world, with capitalizations within the range of companies included in the MSCI ACWI Index Net USD. At all times, it will have investments in equity securities of companies in at least three countries outside of the U.S. Under normal conditions, at least 40% of the fund's net assets will be invested in stocks of companies outside the U.S. (at least 30% if foreign market conditions are not favorable).

BGAIX

The fund invests for the long term primarily in equity securities in the form of common stock of U.S. small-sized growth companies. BAMCO, Inc. ("BAMCO" or the "Adviser") defines small-sized companies as those, at the time of purchase, with market capitalizations up to the largest market cap stock in the Russell 2000 Growth Index at reconstitution, or companies with market capitalizations up to $2.5 billion, whichever is larger.

BGRFX

The mutual fund focuses on long-term investment in U.S. mid-sized growth companies, primarily in common stock. The companies targeted have market capitalizations up to the largest stock in the Russell 2000 Growth Index at reconstitution or up to $2.5 billion.

BGRIX

The investment seeks capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets in equity securities in the form of common stock of companies engaged in the research, development, production, sale, delivery or distribution of products and services related to the health care industry. The Adviser uses various criteria to determine whether an issuer is engaged in activities related to the health care industry. It is non-diversified.

BHCHX

The fund is a diversified fund that invests for the long term primarily in equity securities in the form of common stock of non-U.S. growth companies. It seeks to diversify its investments among several developed countries and developing countries throughout the world, although the fund may only invest up to 35% of its net assets in developing countries. Developing countries include countries in the MSCI Emerging Markets (EM) Index, countries in the MSCI Frontier Markets (FM) Index and other countries determined by the Adviser to be developing countries based on classifications.

BIGFX

The fund invests primarily in equity securities in the form of common stock of U.S. high growth businesses of any market capitalization selected for their capital appreciation potential. The Adviser may invest in companies in any sector or industry that the adviser believes will benefit from innovations and advances in technology.

BIOPX

The fund invests primarily in Asian companies, with a focus on mid and large-sized companies across developed, developing, and frontier markets in the region. The Adviser actively manages currency exposure to facilitate transactions in non-U.S. dollar securities.

BNAIX

The fund invests for the long term primarily in equity securities in the form of common stock of U.S. growth companies of any market capitalization. The Adviser seeks to invest in businesses the advisor believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation. To take advantage of opportunities to invest, the fund may borrow money from banks (leverage) in an amount up to one-third of its total assets, which include assets purchased with borrowed money. It is non-diversified.

BPTRX

The investment seeks capital appreciation. The fund normally invests 80% of its net assets for the long term in equity securities in the form of common stock of U.S. and non-U.S. real estate and real estate-related companies of any market capitalization, and in companies which, in the opinion of the Adviser, own significant real estate assets at the time of investment ("real estate companies"). It will invest more than 25% of its net assets in the real estate industry.

BREIX

The investment seeks a combination of capital appreciation and current income. The fund invests at least 80% of its net assets in real estate income-producing securities and other real estate securities of any market capitalization, including common stocks and equity securities, debt and preferred securities, non-U.S. real estate income-producing securities, and any other real estate-related yield securities. It is likely to maintain a significant portion of its assets in real estate investment trusts ("REITs").

BRIIX

The investment seeks capital appreciation through investments primarily in securities of small-sized growth companies. The fund invests 80% of its net assets in equity securities in the form of common stock of U.S. small-sized growth companies. BAMCO, Inc. ("BAMCO" or the "Adviser") defines small-sized companies as those, at the time of purchase, with market capitalizations up to the largest market cap stock in the Russell 2000 Growth Index at reconstitution, or companies with market capitalizations up to $2.5 billion, whichever is larger.

BSCFX

The investment seeks capital appreciation. The fund invests, at any given time, in the securities of a select number of Baron mutual funds (the "underlying funds"), representing specific investment strategies. It normally invests in a variety of domestic and international equity funds. The fund seeks to invest in businesses that the Adviser believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield
BARAX	Baron Asset Fund	Mid Cap Growth Equities	Jun 12, 1987	1.29%	-1.61%	10.31%	3.54%
BDAIX	Baron Durable Advantage Fund	Large Cap Growth Equities	Dec 29, 2017	1.48%	6.65%	—	0.09%
BDFIX	Baron Discovery Fund	Small Cap Growth Equities	Sep 30, 2013	1.05%	-5.64%	10.24%	0.00%
BEXIX	Baron Emerging Markets Fund	Emerging Markets Diversified	Dec 30, 2010	1.12%	-0.86%	2.25%	0.69%
BFGFX	Baron Focused Growth Fund	Mid Cap Growth Equities	Jun 30, 2008	1.32%	-4.55%	15.26%	0.00%
BFIIX	Baron FinTech Fund	Technology Equities	Dec 30, 2019	0.95%	-0.49%	—	0.00%
BFTHX	Baron Fifth Avenue Growth Fund	Large Cap Growth Equities	Apr 30, 2004	1.00%	2.81%	11.55%	0.00%
BGAIX	Baron Global Advantage Fund	Global Equities	Apr 29, 2012	0.90%	-4.10%	9.08%	0.00%
BGRFX	Baron Growth Fund	Mid Cap Growth Equities	Dec 30, 1994	1.29%	-2.62%	10.07%	1.84%
BGRIX	Baron Growth Fund Institutional Shares	Mid Cap Growth Equities	May 29, 2009	1.05%	-1.63%	10.44%	1.72%
BHCHX	Baron Health Care Fund	Health & Biotech Equities	Apr 29, 2018	0.85%	1.47%	—	0.00%
BIGFX	Baron International Growth Fund	Foreign Large Cap Equities	Dec 30, 2008	1.20%	-2.12%	4.80%	0.36%
BIOPX	Baron Opportunity Fund	Large Cap Growth Equities	Feb 29, 2000	1.31%	4.42%	15.57%	0.00%
BNAIX	Baron New Asia Fund	Asia Pacific Equities	Jul 29, 2021	1.20%	6.74%	—	0.00%
BPTRX	Baron Partners Fund	Large Cap Growth Equities	Apr 30, 2003	1.36%	-17.95%	16.20%	0.00%
BREIX	Baron Real Estate Fund	REIT	Dec 31, 2009	1.05%	-2.27%	9.65%	0.44%
BRIIX	Baron Real Estate Income Fund	REIT	Dec 29, 2017	1.08%	-5.94%	—	2.07%
BSCFX	Baron Small Cap Fund	Small Cap Growth Equities	Sep 30, 1997	1.29%	1.78%	9.93%	2.98%
BWBIX	Baron WealthBuilder Fund	Diversified Portfolio	Dec 28, 2017	0.05%	-2.97%	—	0.07%

Baron Capital Group, Inc. Mutual Funds List

Risk vs. Return Scatterplot