The team at a Gotham fund firm is celebrating a big milestone for a small-cap growth equity fund.

Ronald Stephen "Ron" Baron Baron Capital Founder

Yesterday, Laird Bieger and Randy Gwirtzman, portfolio managers of the Baron Discovery Fund, highlighted the fact that the mutual fund reached its tenth anniversary earlier this fall. The $1.28-billion-AUM fund is a series of Baron Investment Funds Trust.

Baron Discovery debuted on September 20, 2013. The fund comes in three share classes: retail shares (BDFFX), with an expense ratio of 132 basis points; institutional shares (BDFIX) for 106bps; and R6 shares (BDFUX) for 106bps.

BAMCO, Inc. (a subsidiary of Baron Capital Group, Inc., aka BCG [profile]) serves as investment advisor to Baron Discovery, and Baron Capital, Inc. (BCI, another BCG subsidiary) serves as distributor. Gwirtzman and Bieger have co-PMed the fund since inception.

Bieger calls the "growth potential and valuations" in small-caps as "very compelling."

"Baron Capital's fundamental, long-term approach to growth investing can be especially effective in the small-cap arena, even with a host of short-term macro-economic uncertainties," Bieger states.

"We like to say investors have never heard of many of the companies in which we invest, but they will," Gwirtzman states. "We look at our 10-year track record as a testament to that notion."

Baron Discovery's other service providers include: PricewaterhouseCoopers LLP as independent accounting firm; SS&C Global Investor & Distribution Solutions, Inc. as dividend disbursing agent and transfer agent; and State Street Bank and Trust Company as administrator, custodian, and securities lending agent. 

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