Baron Funds, an investment management company, released its “Baron FinTech Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund rose 12.52% (Institutional Shares) compared to a 12.21% return for the FactSet Global FinTech Index (Benchmark) and a 5.89% gain for the S&P 500 index. Since inception, the fund has appreciated 11.63% at an annualized rate, compared to 3.23% for the Benchmark. U.S. stocks increased for the fourth quarter as the Federal Reserve's long-awaited dovish turn was made possible by easing inflation and...
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