Fund Evaluator:

Baron Global Opportunity Institutional Overview

Baron Global Opportunity Institutional (BGAIX) is an actively managed International Equity Global Large-Stock Growth fund. Baron Capital Group, Inc. launched the fund in 2012.

The investment seeks capital appreciation. The fund is a diversified fund that, under normal circumstances, invests primarily in equity securities in the form of common stock of established and emerging markets companies located throughout the world, with capitalizations within the range of companies included in the MSCI ACWI Index Net USD. At all times, it will have investments in equity securities of companies in at least three countries outside of the U.S. Under normal conditions, at least 40% of the fund's net assets will be invested in stocks of companies outside the U.S. (at least 30% if foreign market conditions are not favorable).

About Baron Global Opportunity Institutional (BGAIX)

There are 1 members of the management team with an average tenure of 14.26 years: Alex Umansky (2012). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and MSCI ACWI Growth NR USD index with a weighting of 100%. Baron Global Opportunity Institutional has 49 securities in its portfolio. The top 10 holdings constitute 57.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Baron Global Opportunity Institutional is part of the Equity global asset class and is within the International Equity fund group. Baron Global Opportunity Institutional has 32.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 64.9%. There is 32.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Baron Global Opportunity Institutional has 2.8% of the portfolio in cash.

Assets Under Management

The fund has $989 million in total assets, which is above the $988 million average for the Global Large-Stock Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

BGAIX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Baron Global Opportunity Institutional expense ratio is high compared to funds in the Global Large-Stock Growth category. Baron Global Opportunity Institutional has an expense ratio of 0.90%, which is 19% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Baron Global Opportunity Institutional has a portfolio turnover rate of 9%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 47% for the Global Large-Stock Growth category.

Recently, in the month of July 2026, Baron Global Opportunity Institutional returned -8.3%, which earned it a grade of F, as the Global Large-Stock Growth category had an average return of -2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Baron Global Opportunity Institutional has a trailing yield of 0.17%, which is below the 0.27% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Baron Global Opportunity Institutional Grades

Year to date, the fund has returned 10.6%, 4.5 percentage points better than the category, which translates into a grade of B. The fund has returned 24.2% over the past year (grade of A), 21.7% over the past three years (grade of A) and 0.4% per year over the past five years (grade of F) and 14.9% per year over the past 10 years (grade of A).

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