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Baron New Asia Fund to Become Baron India Fund

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Baron Capital has announced the conversion of Baron New Asia Fund® (BNAIX) to Baron India Fund® (BINDX), effective September 1, 2024. This strategic shift reflects an exclusive focus on Indian growth equities, with the fund investing a minimum of 80% of its portfolio in Indian companies. Anuj Aggarwal, the fund's portfolio manager, highlights India's high growth potential, favorable demographics, and accelerating urbanization as key factors driving this decision.

The Indian market has shown strong performance, with the MSCI India Index outperforming the MSCI EM Index significantly over recent years. Baron New Asia Fund's India equity exposure, managed by Aggarwal, has delivered impressive returns, outperforming the Morningstar India Category Average. Ron Baron, chairman and CEO of Baron Capital, emphasizes the exceptional investment opportunities in India due to profound structural changes occurring in the country.

Baron Capital ha annunciato la conversione del Baron New Asia Fund® (BNAIX) nel Baron India Fund® (BINDX), a partire dal 1 settembre 2024. Questo cambiamento strategico riflette un'attenzione esclusiva sulle azioni di crescita indiane, con il fondo che investirà almeno l'80% del proprio portafoglio in aziende indiane. Anuj Aggarwal, il gestore del portafoglio del fondo, sottolinea l'alto potenziale di crescita dell'India, i fattori demografici favorevoli e l'accelerazione della urbanizzazione come elementi chiave che guidano questa decisione.

Il mercato indiano ha mostrato forti prestazioni, con l'indice MSCI India che ha sovraperformato significativamente l'indice MSCI EM negli ultimi anni. L'esposizione azionaria indiana del Baron New Asia Fund, gestita da Aggarwal, ha offerto ritorni impressionanti, superando la media della categoria Morningstar India. Ron Baron, presidente e CEO di Baron Capital, enfatizza le straordinarie opportunità di investimento in India a causa di profondi cambiamenti strutturali che stanno avvenendo nel paese.

Baron Capital ha anunciado la conversión del Baron New Asia Fund® (BNAIX) al Baron India Fund® (BINDX), a partir del 1 de septiembre de 2024. Este cambio estratégico refleja un enfoque exclusivo en las acciones de crecimiento indias, con el fondo invirtiendo un mínimo del 80% de su cartera en empresas indias. Anuj Aggarwal, el gestor de la cartera del fondo, destaca el alto potencial de crecimiento de India, la demografía favorable y la aceleración de la urbanización como factores clave que impulsan esta decisión.

El mercado indio ha mostrado un rendimiento sólido, con el índice MSCI India superando significativamente al índice MSCI EM en los últimos años. La exposición a acciones indias del Baron New Asia Fund, gestionada por Aggarwal, ha proporcionado rendimientos impresionantes, superando la media de la categoría Morningstar India. Ron Baron, presidente y CEO de Baron Capital, enfatiza las excepcionales oportunidades de inversión en India debido a los profundos cambios estructurales que están ocurriendo en el país.

바론 캐피탈은 Baron New Asia Fund® (BNAIX)를 Baron India Fund® (BINDX)로 전환한다고 발표했으며, 이는 2024년 9월 1일부터 시행됩니다. 이 전략적 전환은 인도 성장 주식에 대한 독점적인 초점을 반영하며, 펀드는 포트폴리오의 최소 80%를 인도 기업에 투자하게 됩니다. Anuj Aggarwal 펀드 포트폴리오 매니저는 인도의 높은 성장 잠재력과 유리한 인구 통계, 급속한 도시화를 이 결정의 주요 요인으로 강조합니다.

인도 시장은 강한 성과를 보였고, MSCI 인도 지수는 최근 몇 년 동안 MSCI EM 지수를 상당히 초과하였습니다. Aggarwal이 관리하는 Baron New Asia Fund의 인도 주식 노출은 인상적인 수익률을 기록하였으며, Morningstar 인도 범주 평균을 초과했습니다. 바론 캐피탈의 회장 겸 CEO인 론 바론은 인도에서 발생하는 심각한 구조적 변화로 인해 뛰어난 투자 기회가 존재한다고 강조합니다.

Baron Capital a annoncé la conversion du Baron New Asia Fund® (BNAIX) en Baron India Fund® (BINDX), à compter du 1er septembre 2024. Ce changement stratégique reflète un focus exclusif sur les actions en croissance indiennes, le fonds investissant au minimum 80 % de son portefeuille dans des entreprises indiennes. Anuj Aggarwal, le gestionnaire de portefeuille du fonds, souligne le fort potentiel de croissance de l'Inde, les données démographiques favorables et l'accélération de l'urbanisation comme des facteurs clés motivant cette décision.

Le marché indien a montré de solides performances, l'indice MSCI Inde ayant largement surpassé l'indice MSCI EM ces dernières années. L'exposition aux actions indiennes du Baron New Asia Fund, gérée par Aggarwal, a généré des rendements impressionnants, dépassant la moyenne de la catégorie Morningstar Inde. Ron Baron, président et directeur général de Baron Capital, souligne les opportunités d'investissement exceptionnelles en Inde en raison des changements structurels profonds en cours dans le pays.

Baron Capital hat die Umwandlung des Baron New Asia Fund® (BNAIX) in den Baron India Fund® (BINDX) zum 1. September 2024 angekündigt. Dieser strategische Wechsel spiegelt einen exklusiven Fokus auf indische Wachstumsaktien wider, wobei der Fonds mindestens 80% seines Portfolios in indische Unternehmen investieren wird. Anuj Aggarwal, der Portfoliomanager des Fonds, hebt Indiens hohes Wachstumspotenzial, günstige demografische Bedingungen und die beschleunigte Urbanisierung als Schlüsselfaktoren für diese Entscheidung hervor.

Der indische Markt hat eine starke Leistung gezeigt, wobei der MSCI India-Index in den letzten Jahren den MSCI EM-Index erheblich übertroffen hat. Die indische Aktienexposition des Baron New Asia Fund, die von Aggarwal verwaltet wird, hat beeindruckende Renditen erzielt und die Durchschnittswerte der Morningstar India-Kategorie übertroffen. Ron Baron, Vorsitzender und CEO von Baron Capital, betont die außergewöhnlichen Investitionsmöglichkeiten in Indien aufgrund der tiefgreifenden strukturellen Veränderungen, die im Land stattfinden.

Positive
  • Strategic shift to focus exclusively on high-growth Indian equities
  • Strong outperformance of MSCI India Index compared to MSCI EM Index
  • Baron New Asia Fund's India equity exposure outperformed Morningstar India Category Average
  • Portfolio manager Anuj Aggarwal has 16 years of research experience
  • India's favorable demographics and accelerating urbanization present growth opportunities
Negative
  • None.

Insights

The conversion of Baron New Asia Fund to Baron India Fund represents a strategic shift in Baron Capital's investment focus. This move aligns with India's strong market performance, outpacing the broader emerging markets. The fund's 61.30% one-year return and 16.16% three-year annualized return for its India equity exposure are impressive, significantly outperforming the Morningstar India Category Average. However, investors should note that past performance doesn't guarantee future results. The fund's 80% minimum allocation to Indian equities may increase concentration risk, potentially leading to higher volatility. While India's growth story is compelling, geopolitical risks and economic challenges could impact returns. Investors should consider their risk tolerance and portfolio diversification when evaluating this focused strategy.

Baron Capital's decision to launch a dedicated India fund is timely and strategic. India's market has shown remarkable outperformance, with the MSCI India Index beating the MSCI EM Index by 21.81%, 18.51% and 10.53% over one, three and five years respectively. This trend reflects India's favorable demographics, urbanization and digitization. The fund's conversion caters to growing U.S. investor appetite for India exposure. However, it's important to consider that India's market can be volatile and subject to regulatory changes. The fund's concentrated approach may amplify both gains and losses. Investors should weigh the potential for high growth against the increased country-specific risk and ensure this aligns with their overall investment strategy and risk tolerance.

Baron Capital Renames Fund to Reflect Exclusive Focus on Indian Growth Equities

NEW YORK--(BUSINESS WIRE)-- Baron Capital, a premier asset management firm focused exclusively on delivering growth equity investment solutions to institutions, financial advisors, and individual investors, today announced the conversion of Baron New Asia Fund® (BNAIX) to Baron India Fund® (BINDX), representing the Fund’s strategic shift in its investment focus. The change, effective September 1, 2024, means Baron India Fund will invest a minimum of 80% of the portfolio in Indian equities using Baron Capital’s long-term approach to growth investing.

“India’s high growth potential, favorable demographics, and accelerating urbanization and digitization are just a few of the factors that we believe will create excellent opportunities for our style of growth investing,” said Anuj Aggarwal, portfolio manager of Baron India Fund. “There’s been significant appetite among U.S. investors for India exposure given its status as a top-performing market, and we are thrilled to offer investors differentiated access to Indian growth equities using the time-tested Baron Capital investment approach.”

The Fund, which will be managed by Mr. Aggarwal, will hold companies of all sizes with significant growth potential based in India. Mr. Aggarwal joined Baron Capital in 2012 as a research analyst and was promoted to assistant portfolio manager of Baron Emerging Markets Fund in 2020. He was named co-portfolio manager of Baron New Asia Fund in 2021 and became sole portfolio manager upon its conversion on September 1, 2024. He has 16 years of research experience.

The Indian market presents a compelling opportunity within the emerging markets universe. The MSCI India Index has outperformed the MSCI EM Index by 21.81%, 18.51% and 10.53% over the one-, three-, and five-year periods respectively as of 6/30/24.

Taken by itself, Baron New Asia Fund’s India equity exposure, managed by Mr. Aggarwal, has returned 61.30% over one year and 16.16% annualized over three years as of 7/31/24. This compares favorably to the Morningstar India Category Average, which returned 31.04% and 11.89%, respectively, over the same periods.

“Based upon our Firm’s research, we believe there are exceptional investment opportunities in India,” said Ron Baron, chairman and CEO of Baron Capital. “With profound structural changes taking place, India is extremely well positioned as an engine of growth in Asia and beyond. Anuj has substantial experience managing Indian equities and had significant exposure to the asset class in Baron New Asia Fund and Baron Emerging Markets Fund. We at Baron Capital feel that providing dedicated Indian growth exposure using our unique approach is a significant value add for investors.”

About Baron Capital

Baron Capital is a premier asset management firm focused exclusively on delivering growth equity investment solutions to institutions, financial advisors, and individual investors. Since its founding in 1982, Baron Capital has been united under one style of investing with a single objective–to be long-term investors in secular growth businesses with durable competitive advantages, run by great management teams. With $41 billion in assets under management (as of 6/30/24) across 19 strategies, Baron Capital prides itself on delivering the best solutions and outcomes for clients globally.

More information about Baron Capital is available by calling 1-800-99-BARON or by visiting BaronCapitalGroup.com. The adviser to Baron Funds is BAMCO, Inc., a subsidiary of Baron Capital Group, Inc.

You should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and summary prospectus contain this and other information about the Fund and can be obtained from the Fund's distributor, Baron Capital, Inc., by calling 1-800-99-BARON or visiting BaronCapitalGroup.com. Please read them carefully before investing.

Baron New Asia Fund's annualized returns for the Institutional Shares as of June 30, 2024: 1-year, 18.72%; Since Inception (7/30/2021), -2.60%. The gross annual expense ratio for the Institutional Shares as of December 31, 2023 was 6.93%, but the net expense ratio was 1.20% (net of reimbursements from the adviser).

MSCI AC Asia ex Japan Index's annualized returns as of June 30, 2024: 1-year, 12.89%; Since Fund Inception (7/30/2021), -3.38%.

MSCI AC Asia ex Japan IMI Growth Index's annualized returns as of June 30, 2024: 1-year, 12.19%; Since Fund Inception (7/30/2021), -5.74%.

MSCI AC Asia Index's annualized returns as of June 30, 2024: 1-year, 13.05%; Since Fund Inception (7/30/2021), -1.16%.

Morningstar India Category Average’s annualized returns as of June 30, 2024: 1-year, 29.79%, since Fund inception (7/30/2021), 10.23%.

The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser waives and/or reimburses certain Fund expenses pursuant to a contract expiring on August 29, 2034, unless renewed for another 11-year term and the Fund's transfer agency expenses may be reduced by expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted. For performance information current to the most recent month end, visit BaronCapitalGroup.com or call 1-800-99-BARON.

Risks: Non-U.S. investments may involve additional risks to those inherent in U.S. investments, including exchange-rate fluctuations, political or economic instability, the imposition of exchange controls, expropriation, limited disclosure and illiquid markets. In addition, investments in developing countries may have increased risks due to a greater possibility of settlement delays; currency and capital controls; interest rate sensitivity; corruption and crime; exchange rate volatility; and inflation or deflation. Government actions, bureaucratic obstacles and inconsistent economic reform within the Indian government have had a significant effect on the Indian economy and could adversely affect market conditions, economic growth and the profitability of private enterprises in India.

The discussion of market trends is not intended as advice to any person regarding the advisability of investing in any particular security. The views expressed in this document reflect those of the respective writer. Some of our comments are based on management expectations and are considered “forward-looking statements.” Actual future results, however, may prove to be different from our expectations. Our views are a reflection of our best judgment at the time and are subject to change at any time based on market and other conditions and Baron has no obligation to update them.

Morningstar calculates the Morningstar India Category Average Performance and rankings using its Fractional Weighting methodology. Total returns do account for management, administrative, and 12b-1 fees and other costs automatically deducted from fund assets. 2024 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its affiliates or content providers; (2) may not be copied, adapted or distributed; (3) is not warranted to be accurate, complete or timely; and (4) does not constitute advice of any kind, whether investment, tax, legal or otherwise. User is solely responsible for ensuring that any use of this information complies with all laws, regulations and restrictions applicable to it. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

MORNINGSTAR IS NOT RESPONSIBLE FOR ANY DELETION, DAMAGE, LOSS OR FAILURE TO STORE ANY PRODUCT OUTPUT, COMPANY CONTENT OR OTHER CONTENT.

The MSCI India Index Net (USD) is a broad-based securities index that is designed to measure the performance of the large and mid-cap segments of the Indian market. The MSCI Emerging Markets Index Net (USD) is designed to measure equity market performance of large and mid-cap securities across 24 Emerging Markets countries. The MSCI AC Asia ex Japan/India Linked Index Net (USD) was created by the Adviser and links the performance of the MSCI AC Asia ex Japan Index for all periods prior to August 31, 2024 and the MSCI India Index for all periods thereafter. The MSCI AC Asia ex Japan Index Net (USD) measures the performance of large and mid cap equity securities across 2 of 3 Developed Markets countries (excluding Japan) and 8 Emerging Markets countries in Asia. MSCI is the source and owner of the trademarks, service marks and copyrights related to the MSCI Indexes. The indexes and the Fund include reinvestment of dividends, net of foreign withholding taxes, which positively impact the performance results. The indexes are unmanaged. Index performance is not Fund performance.

Inventors cannot invest directly in an index.

BAMCO, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Baron Capital, Inc. is a broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).

Tucker Hewes

Hewes Communications, Inc.

212-207-9451

tucker@hewescomm.com

Source: Baron Capital

FAQ

What is the new name of Baron New Asia Fund (BNAIX)?

Baron New Asia Fund (BNAIX) will be renamed Baron India Fund (BINDX) effective September 1, 2024.

What is the investment focus of the new Baron India Fund?

The Baron India Fund will invest a minimum of 80% of its portfolio in Indian growth equities using Baron Capital's long-term approach to growth investing.

Who is the portfolio manager of Baron India Fund?

Anuj Aggarwal is the portfolio manager of Baron India Fund. He has 16 years of research experience and joined Baron Capital in 2012.

How has the MSCI India Index performed compared to the MSCI EM Index?

As of June 30, 2024, the MSCI India Index has outperformed the MSCI EM Index by 21.81%, 18.51%, and 10.53% over the one-, three-, and five-year periods respectively.

What were the returns of Baron New Asia Fund's India equity exposure as of July 31, 2024?

Baron New Asia Fund's India equity exposure returned 61.30% over one year and 16.16% annualized over three years as of July 31, 2024.

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