MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, September 3, 2024 With More Focus, a $6MM Asia Fund Transforms The folks at a 42-year-old, $41-billion-AUM (as of June 30), New York City-based fund firm are transforming and refocusing a three-year-old, $5.95-million-AUM international equity fund.
The new fund name comes with a refocused investment strategy, too. Previously, the Baron New Asia Fund was at least 80-percent invested in companies anywhere in Asia. Now, the Baron India Fund will be at least 80-percent invested in stocks specifically in India. Aggarwal, who served as co-PM of the Baron New Asia Fund since its inception on July 30, 2021, now serves as the sole PM of the Baron India Fund. Michael Kass, who co-PMed the Baron New Asia Fund alongside Aggarwal since inception, now serves as portfolio manager advisor to the Baron India Fund. The Baron India Fund comes in three flavors. Retail shares (BINRX, formerly BNAFX) come with an expense of 145 basis points (baking in 581bps in expense reimbursements). Institutional shares (BINDX, formerly BNAIX) come with an expense ratio of 120bps (baking in 559bps in expense reimbursements). And R6 shares (BINUX, formerly BNAUX) come with an expense ratio of 120bps (baking in 488bps in expense reimbursements). Those expense ratios did not change as part of the fund's transformation, though the expense reimbursements (promised through August 29, 2034) have been adjusted a bit. "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," Aggarwal states, highlighting "India's high growth potential, favorable demographics, and accelerating urbanization and digitization." Baron puts the fund transformation in the context of India being "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," Baron states. "We at Baron Capital feel that providing dedicated Indian growth exposure using our unique approach is a significant value add for investors." The revamped fund's other service providers include: Baron Capital, Inc. as distributor; PricewaterhouseCoopers LLP as independent accounting firm; SS&C Global Investor & Distribution Solutions, Inc. as dividend disbursing agent, securities lending agent, and transfer agent; and State Street Bank and Trust Company as administrator and custodian. Printed from: MFWire.com/story.asp?s=67856 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
