Alex Umansky serves as the primary portfolio manager of the Baron Durable Advantage Fund since its inception on December 29, 2017. He brings over 33 years of research experience as Vice President & Portfolio Manager at both BAMCO, Inc. and Baron Capital Management, Inc. Umansky joined Baron Capital in 2011 after an 18-year tenure at Morgan Stanley, where he co-managed multiple funds including the Morgan Stanley Opportunity Fund, Global Opportunity Fund, International Opportunity and Advantage Funds, Information Fund, and Small Company Growth Fund. He led the Morgan Stanley Institutional Technology Strategy and Technology Fund from 1998 to 2004, demonstrating deep expertise in technology sector investing. His educational credentials include a Bachelor of Science in Finance, Information Systems, and Mathematics from New York University Stern School of Business, earned in 1993. He currently serves as a board member of Compute Express Link Consortium, Inc., further demonstrating his technology sector involvement and expertise.

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The Baron Durable Advantage Fund employs a distinctive approach to large-cap core investing by focusing on high-quality, competitively advantaged companies rather than traditional value and growth stock categorization. The fund targets 100 to 200 basis points alpha annually by investing in long-term compounders—large-cap companies exhibiting durable growth, operational excellence, and prudent capital allocation. The investment strategy emphasizes companies with uniqueness, durable competitive advantages, exceptional management, recurring revenue models, diverse customer bases, and pricing power. The portfolio is concentrated with typically 25 to 35 stocks, featuring low turnover and a long-term perspective termed 'time arbitrage,' leveraging intrinsic value growth over market volatility. Risk is defined as the probability of permanent capital loss rather than volatility, with every portfolio built from the bottom up based on conviction about future growth prospects.

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