BREFX – Baron Real Estate Retail Investment Strategy | Morningstar

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Strategy

The investment seeks capital appreciation. The fund normally invests 80% of its net assets for the long term in equity securities in the form of common stock of U.S. and non-U.S. real estate and real estate-related companies of any market capitalization, and in companies which, in the opinion of the Adviser, own significant real estate assets at the time of investment ("real estate companies"). It will invest more than 25% of its net assets in the real estate industry.

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
BREFX	Baron Real Estate Fund Retail Shares	No Load	Open			Dec 31, 2009	$304.06M	1.320%	Above Average	$2,000	−$61.33M
BREIX	Baron Real Estate Fund Institutional Shares	Institutional	Open			Dec 31, 2009	$1.55B	1.050%	Above Average	$1M	−$191.28M
BREUX	Baron Real Estate Fund Class R6	Retirement, Large	Open			Jan 29, 2016	$44.68M	1.050%	High	$5M	−$3.61M

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