Baron FinTech Fund’s Q2 2024 Investor Letter

Baron Funds, an investment management company, released its “Baron FinTech Fund” second quarter 2024 investor letter. In the second quarter, the fund declined 2.25% (Institutional Shares) compared to a (5.78)% return for the FactSet Global FinTech Index (Benchmark) and a 4.28% gain for the S&P 500 index. US equities rose with major market indices reaching all-time highs during the second quarter. Overwhelming corporate results were accompanied by mixed economic data that points to further moderation of inflation. However, the rally was concentrated and driven by mega-cap technology companies. The fund’s smaller market cap profile and lack of exposure to the Magnificent Seven led the fund to underperform the broader market. In addition, please check the fund’s top five holdings to know its best picks in 2024.

A copy of Baron FinTech Fund’s Q2 2024 investor letter can be downloaded here.