The above report includes a fair amount of self-promotion from Ron Baron, but it is hard to argue with the numbers his funds have put up over the long and short hauls. My only experience with the company has been via BGAFX, the global all-cap growth entry. While I have not compared Baron’s apples with Morgan Stanley’s apples in a systematic manner, my initial conclusion is that both outfits have enviable records in growth mutual funds. Baron has even made a pile of dough for shareholders in Real Estate. I know that MS has its fans on MFO (I own a big slice of MGGPX) and the comment has been made that the MS growth funds deserve more attention. The same might be said for Baron. TSLA is a major holding in several of the funds and especially in the Partners Fund where it’s the 47% elephant in the living room. Some of the Baron funds were previously partnerships (hedge funds?) whose performance is included in the tabulations.
One Baron vehicle I just learned about is the WealthBuilder Fund (BWBIX/BWBFX), a fund of Baron funds that is said to charge no ER above and beyond the ERs of the constituents. This fund dates to 2017 and has profited handsomely from the mania for growth funds, but it has outshone all comers in the 85% and up allocation category. It could be a good choice for child or younger investor with a long horizon.