Baron Asset Fund is managed by Andrew Peck, who serves as Senior Vice President, Co-Chief Investment Officer, and Portfolio Manager at BAMCO, Inc. and Baron Capital Management, Inc. Peck joined Baron Capital in 1998 as a research analyst and was named portfolio manager of Baron Asset Fund in 2003, later becoming co-chief investment officer in 2020. He brings over 29 years of research experience, having previously worked as an equity analyst at Salomon Brothers from 1992 to 1994. The fund was launched on May 29, 2009 for the institutional class, though the underlying fund dates back to June 12, 1987. Baron Capital was founded in 1982 by Ron Baron and is headquartered in New York, employing between 201-500 people specializing in growth equity investment solutions through a long-term, fundamental, and research-driven approach. The institutional class requires a minimum investment of $1,000,000 and operates as a true no-load fund with an expense ratio of 1.04%.

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Baron Capital's investment philosophy centers on long-term investments in secular growth businesses with durable competitive advantages led by strong management teams. Every Baron Capital portfolio is built from the bottom up, stock by stock, based on conviction about the future growth prospects of each business. The firm has a deeply embedded risk management culture, viewing risk as the probability of an adverse outcome leading to permanent loss of capital. Their investment process includes rigorous research to identify long-term growth opportunities, focusing on companies capable of doubling in value over a five-year horizon. Baron Capital models financials looking five years out rather than quarter-to-quarter earnings, with average portfolio turnover around 10-15% per year, implying ownership for five years or longer. The fund seeks capital appreciation through long-term investments primarily in securities of mid-sized companies with undervalued assets or favorable growth prospects, defining mid-sized companies as those with market capitalizations above $2.5 billion or aligned with the Russell Midcap Growth Index.

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