Baron Asset Fund Class R6

This fund aims to achieve long-term capital growth primarily by investing in mid-sized companies. It seeks out businesses that are either considered undervalued or possess strong prospects for future expansion. The fund’s strategy involves holding common stock, specifically equity securities, of U.S. mid-sized growth-focused enterprises for an extended duration. BAMCO, Inc., acting as the fund's advisor, defines mid-sized companies based on their market capitalization at the point of acquisition. These are firms whose market value exceeds $2.5 billion (or surpasses the smallest market capitalization of any stock included in the Russell Midcap Growth Index during its reconstitution, whichever figure is higher). Additionally, their market capitalization must remain below that of the largest stock within the same Russell Midcap Growth Index at the time of its reconstitution.