Baron Asset's little brother gets a face-lift
From The Boston Globe
The Baron Growth fund was initially conceived of as a smaller, more conservative companion to the Baron Asset fund, and was first called the Baron Growth & Income Fund. However, in May, the fund changed names in order to reflect the shedding of its large position in REITs and its more concentrated growth style. The money drawn from the sale of REIT shares was invested in mainly small-cap companies, bringing the median market cap from the fund down from over $2 billion to under $1 million, further differentiating it from its big brother.

The myth of fund consolidation
From Investment News
A new study by Investment Counseling Inc. explores the dearth of new investors in the mutual fund marketplace. The report challenges widespread predictions that a consolidation frenzy this decade would favor the biggest managers with the broadest product lines. It also points out that while many fund companies still covet the wealthy individual investors, catering to the rich is less profitable than the retail and institutional business. It further explores the myth of consolidation in the industry, citing the growing number of small firms sucessfully gathering assets.  

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