BDFUX – Baron Discovery R6 Investment Strategy | Morningstar

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Strategy

The investment seeks capital appreciation through investments primarily in securities of small-sized growth companies. The fund is a diversified fund that invests for the long term primarily in equity securities in the form of common stock of U.S. small-sized growth companies. The Adviser seeks to invest in businesses the adviser believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
BDFFX	Baron Discovery Fund Retail Shares	No Load	Open			Sep 30, 2013	$111.69M	1.330%	High	$2,000	−$43.03M
BDFIX	Baron Discovery Fund Institutional Shares	Institutional	Open			Sep 30, 2013	$1.53B	1.050%	Above Average	$1M	−$191.55M
BDFUX	Baron Discovery Fund R6 Shares	Retirement, Large	Open			Aug 31, 2016	$42.88M	1.050%	High	$5M	−$17.79M

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