Baron Funds, an investment management company, released its “Baron Real Estate Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the first half of 2023, the fund rose 15.00% (Institutional Shares) compared to a 4.78% return for the MSCI US REIT Index (the “REIT Index”) and a 12.11% return for the MSCI USA IMI Extended Real Estate Index (the “MSCI Real Estate Index”). The fund rose 7.41%, modestly outperforming the indexes in the second quarter, which returned 2.34% and 7.04%, respectively, in the same period. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Real Estate Fund highlighted stocks like Blackstone Inc. (NYSE:BX) in the second quarter 2023 investor letter. Headquartered in New York, New York, Blackstone Inc. (NYSE:BX) is an asset management firm specializing in Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. On July 25, 2023, Blackstone Inc. (NYSE:BX) stock closed at $104.40 per share. One-month return of Blackstone Inc. (NYSE:BX) was 14.36%, and its shares gained 6.84% of their value over the last 52 weeks. Blackstone Inc. (NYSE:BX) has a market capitalization of $127.422 billion.
Baron Real Estate Fund made the following comment about Blackstone Inc. (NYSE:BX) in its second quarter 2023 investor letter:
“Real estate-focused alternative asset managers: We are optimistic about the long-term prospects for Brookfield and Blackstone Inc. (NYSE:BX) because we believe both companies are likely to increase market share in a secular growth opportunity for alternative assets.
Institutional allocations to alternative investment assets such as real estate, infrastructure, and private equity are likely to continue to grow significantly in the years ahead because alternatives have a long track record of generating attractive relative and absolute returns with less volatility than several other investment options.
We are bullish on the long-term prospects for Brookfield and Blackstone. Both companies are led by exceptional management teams that attract and retain exceptional talent. They are two of the largest real estate managers in the world with impressive investment track records. Both Brookfield and Blackstone have global franchises, strong brands, and loyal customers.
We believe the shares of both companies are attractively valued and are optimistic about the long-term potential for the Fund’s investments in both companies.”
Source: PEXELS
Blackstone Inc. (NYSE:BX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held Blackstone Inc. (NYSE:BX) at the end of first quarter which was 51 in the previous quarter.
We discussed Blackstone Inc. (NYSE:BX) in another article and shared the list of best commercial real estate stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 20 Most Popular Airlines in the World
- 25 Most Famous Bridges In The World
- 25 Most Visited Museums in the World
Disclosure: None. This article is originally published at Insider Monkey.
