Fund Evaluator:
Baron India Retail (BINRX)
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Best Performing in India Equity Over the Last Year
| -2.1% | Wasatch Emerging India Investor (WAINX) |
| -2.8% | Matthews India Investor (MINDX) |
| -7.8% | Kotak India Equity Fund Class I (INDIX) |
| -8.1% | Kotak India Equity Fund Class Investor (INDAX) |
| -10.0% | Q India Equity Investor (QINRX) |
Fund Details
Baron India Retail Overview
Baron India Retail (BINRX) is an actively managed International Equity India Equity fund. Baron Capital Group, Inc. launched the fund in 2021.
The investment seeks capital appreciation. The fund is a diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities of companies located in India. The Adviser considers a company or other issuer to be “located” in India, and a security or instrument is deemed to be an Indian security or instrument, if it has substantial ties to India. The Adviser seeks to invest in businesses the advisor believes have significant opportunities for growth, sustainable competitive advantages, exceptional management, and an attractive valuation.
About Baron India Retail (BINRX)
There are 1 members of the management team with an average tenure of 5.01 years: Anuj Aggarwal (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI India NR USD index with a weighting of 100% and MSCI EM NR USD index with a weighting of 100%. Baron India Retail has 43 securities in its portfolio. The top 10 holdings constitute 44.0% 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 India Retail is part of the Equity global asset class and is within the International Equity fund group. Baron India Retail has 98.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 98.4% 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 India Retail has 1.7% of the portfolio in cash.
Assets Under Management
The fund has $5 million in total assets, which is below the $65 million average for the India Equity 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.
BINRX 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 India Retail expense ratio is high compared to funds in the India Equity category. Baron India Retail has an expense ratio of 1.45%, which is 13% higher than its category average, making the fund expense ratio grade a F. 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 India Retail has a portfolio turnover rate of 35%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 34% for the India Equity category.
Recently, in the month of July 2026, Baron India Retail returned -0.4%, which earned it a grade of F, as the India Equity category had an average return of 1.9%. 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 India Retail has a trailing yield of 0.35%, which is below the 1.39% category average. The fund normally distributes its income 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 India Retail Grades
Year to date, the fund has returned -0.6%, 5.4 percentage points better than the category, which translates into a grade of B. The fund has returned -1.4% over the past year (grade of A), 4.1% over the past three years (grade of D) and -1.9% per year over the past five years (grade of F).
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BINRX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BINRX Return (NAV) | -0.4% | 6.9% | -1.4% | 4.1% | -1.9% | na |
| BINRX Grade | F | B | A | D | F | na |
| +/- Category | -2.3% | 1.8% | 4.5% | -0.2% | -4.0% | na |
| India Equity Avg | 1.9% | 5.1% | -5.9% | 4.3% | 2.1% | 7.0% |
| BINRX Tax Cost Ratio | na | na | 0.2% | 0.1% | 0.0% | na |
BINRX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BINRX Return (NAV) | -0.6% | -0.6% | 17.6% | 5.5% | -27.2% | na | na | na | na | na | na |
| BINRX Grade | B | D | B | F | F | na | na | na | na | na | na |
| +/- Category | 5.4% | -0.2% | 4.2% | -11.2% | -10.3% | na | na | na | na | na | na |
| India Equity Avg | -6.0% | -0.4% | 13.3% | 16.7% | -16.9% | 26.3% | 15.1% | 8.2% | -10.8% | 42.6% | 2.2% |
| Risk Measures | |
| Standard Deviation: | 16.7% |
| Total Risk Index: | 1.36 - High |
| Category Risk Index: | 1.10 - High |
| Category Risk Grade: | F (87% Rank) |
| Beta: | 0.66 |
| R-Squared: | 30% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $26 Mil |
| Fund Total Assets: | $ 5 Mil |
| Share Class Type: | Adv |
| Portfolio Turnover: | 35% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 5.0 years | |||
| Average Tenure: 5.0 years | |||
| Managers (Year): Aggarwal Anuj (2021) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 43 |
| % in Top 10 Holdings: | 44.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 98.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 98.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.7% |
Purchase Information
| Fund Family: | Baron Capital Group, Inc. |
| Phone Number: | 800-992-2766 |
| Website: | www.baronfunds.com |
| Status: | Open |
| Inception Date: | July 30, 2021 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.45% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.28% |
| Share Class: | Baron India Institutional |
| Min. Subsequent Purchase: | $ 10 |
| Min. Subsequent IRA Purchase: | $ 0 |
