XML 61 R10.htm IDEA: XBRL DOCUMENT v3.25.1
Label Element Value
Baron FinTech Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Baron FinTech Fund
Objective [Heading] rr_ObjectiveHeading Investment Goal
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The investment goal of Baron FinTech Fund® (the “Fund”) is capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
The table below describes the fees and expenses that you would pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination August 29, 2035
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover.
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes for Fund shareholders. These costs, which are not reflected in Total Annual Fund Operating Expenses or in the example, affect the Fund’s performance. During the most recent fiscal year ended December 31, 2024, the Fund’s portfolio turnover rate was 11% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 11.00%
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same, giving effect to the
expense reimbursement agreement described above. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Investments, Risks, and Performance Principal Investment Strategies of the Fund
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock
The Fund is a diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities of companies that develop, use, or rely on innovative technologies or services, in a significant way, for banking, lending, capital markets, financial data analytics, insurance, payments, asset management, or wealth management. The Fund may purchase securities of companies of any market capitalization and may invest in foreign stocks, including emerging market securities, however, investments in non-U.S. securities are limited to 35% of the Fund’s total assets at the time of purchase.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration The Fund is a diversified fund that, under normal circumstances, invests at least 80% of its net assets in equity securities of companies that develop, use, or rely on innovative technologies or services, in a significant way, for banking, lending, capital markets, financial data analytics, insurance, payments, asset management, or wealth management.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
The following bar chart and table provide some indication of the risks of investing in the Fund (Retail Shares) by showing the Fund’s performance from year to year and by showing how the Fund’s annual returns for 1 year, 5 years, and since inception
compared with that of a style-specific index (one reflecting the market segments in which the Fund invests), and broad-based indexes, in that order. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at BaronCapitalGroup.com/daily-prices-and-performance or by calling 1‑800‑99BARON (1‑800‑992‑2766).
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table provide some indication of the risks of investing in the Fund (Retail Shares) by showing the Fund’s performance from year to year and by showing how the Fund’s annual returns for 1 year, 5 years, and since inceptioncompared with that of a style-specific index (one reflecting the market segments in which the Fund invests), and broad-based indexes, in that order.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1‑800‑99BARON (1‑800‑992‑2766)
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress BaronCapitalGroup.com/daily-prices-and-performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Total Return (%) for the year ended December 31 (Retail Shares)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter:
6/30/20:  31.89%
Worst Quarter:
6/30/22: (22.51)%
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns (for periods ended 12/31/2024)
Performance Table Market Index Changed rr_PerformanceTableMarketIndexChanged This table shows how the Fund’s performance compares to that of the FactSet Global FinTech Index, which measures and tracks the performance of companies engaged in Financial Technologies, primarily in the areas of software and consulting, data and analytics, digital payment processing, money transfer, and payment transaction-related hardware, in which the Fund invests; the S&P 500 Index, a broad-based securities index that reflects the overall market; and the MSCI ACWI Index, a broad-based securities index that captures large and mid cap representation across 23 Developed Markets (DM) and 24 Emerging Markets (EM) countries.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After‑tax returns are calculated using the highest individual federal marginal income tax rate in effect at the time of each distribution and assumed sale, but they do not include the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After‑tax returns are not relevant to investors who hold their Fund’s shares in a tax‑deferred account (including a 401(k) or IRA or Coverdell account), or to investors that are tax‑exempt.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The table also shows the average annual return of the Fund’s Institutional Shares and R6 Shares, but it does not show after‑tax returns.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock
The following table shows the Fund’s Retail Shares’ annual and since inception return (before and after taxes) and the change in value of market indexes over various periods ended December 31, 2024. This table shows how the Fund’s performance compares to that of the FactSet Global FinTech Index, which measures and tracks the performance of companies engaged in Financial Technologies, primarily in the areas of software and consulting, data and analytics, digital payment processing, money transfer, and payment transaction-related hardware, in which the Fund invests; the S&P 500 Index, a broad-based securities index that reflects the overall market; and the MSCI ACWI Index, a broad-based securities index that captures large and mid cap representation across 23 Developed Markets (DM) and 24 Emerging Markets (EM) countries. The table also shows the average annual return of the Fund’s Institutional Shares and R6 Shares, but it does not show after‑tax returns.
After‑tax returns are calculated using the highest individual federal marginal income tax rate in effect at the time of each distribution and assumed sale, but they do not include the impact of state and local taxes.
Your actual after‑tax returns depend on your own tax situation and may differ from those shown. After‑tax returns reflect past tax effects and are not predictive of future tax effects. After‑tax returns are not relevant to investors who hold their Fund’s shares in a tax‑deferred account (including a 401(k) or IRA or Coverdell account), or to investors that are tax‑exempt.
Average Annual Return, Caption rr_AverageAnnualReturnCaption Average Annual Total Returns for the periods ended December 31, 2024
Baron FinTech Fund | Risk Lose Money [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Fund losses may be incurred due to declines in one or more markets in which Fund investments are made.
Baron FinTech Fund | FinTech Companies [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
FinTech Companies. FinTech Companies may be adversely impacted by government regulations, economic conditions and deterioration in credit markets. These companies may have significant exposure to consumers and businesses (especially small businesses) in the form of loans and other financial products or services. FinTech Companies typically face intense competition and potentially rapid product obsolescence. In addition, many FinTech Companies store sensitive consumer information and could be the target of cybersecurity attacks and other types of theft, which could have a negative impact on these companies. Many FinTech Companies
currently operate under less regulatory scrutiny than traditional financial services companies and banks, but there is significant risk that regulatory oversight could increase in the future. Higher levels of regulation could increase costs and adversely impact the current business models of some FinTech Companies. These companies could be negatively impacted by disruptions in service caused by hardware or software failure, or by interruptions or delays in service by third-party data center hosting facilities and maintenance providers. FinTech Companies involved in alternative currencies may face slow adoption rates and be subject to higher levels of regulatory scrutiny in the future, which could severely impact the viability of these companies. FinTech Companies, especially smaller companies, tend to be more volatile than companies that do not rely heavily on technology. The customers and/or suppliers of FinTech Companies may be concentrated in a particular country, region or industry. Any adverse event affecting one of these countries, regions or industries could have a negative impact on FinTech Companies. Companies across a wide variety of industries are exploring the possible applications of fintech technologies. The extent of such technologies versatility has not yet been fully explored. Consequently, the Fund’s holdings may include equity securities of operating companies that focus on or have exposure to a wide variety of industries and the economic fortunes of certain companies held by the Fund may not be significantly tied to such fintech technologies. Such technologies ultimately may not have a material affect on the economic returns of the companies in which the Fund invests.
Baron FinTech Fund | Financials Sector [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Financials Sector. The financials industries are subject to extensive government regulation, can be subject to relatively rapid change due to increasingly blurred distinctions between service segments, and can be significantly affected by availability and cost of capital funds, changes in interest rates, the rate of corporate and consumer debt defaults, and price competition. Uncertainty in the banking and financial systems can result in significant and widespread deterioration in market and economic conditions by disrupting access to capital and other financial services, which could adversely affect the performance of the Fund.
Baron FinTech Fund | Information Technology Sectors [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Information Technology Sector. Companies in the information technology sector are subject to rapid changes in technology product cycles; rapid product obsolescence; government regulation; and increased competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Information technology companies and companies that rely heavily on technology tend to be more volatile than the overall market and also are heavily dependent on patent and intellectual property rights. In addition, information technology companies may have limited product lines, markets, financial resources or personnel.
Baron FinTech Fund | IT Services Industry [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
IT Services Industry. The IT services industry can be significantly affected by competitive pressures, such as technological developments, fixed-rate pricing, and the
ability to attract and retain skilled employees, and the success of companies in the industry is subject to continued demand for IT services.
Baron FinTech Fund | Concentration [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Concentration. The Fund’s strategy of concentrating in financials companies means that its performance will be closely tied to the performance of a particular market segment. The Fund’s concentration in these companies may present more risks than if it were broadly diversified over numerous industries and sectors of the economy. A downturn in these companies would have a larger impact on the Fund than on a mutual fund that does not concentrate in such companies. At times, the performance of these companies will lag the performance of other industries or the broader market as a whole.
Baron FinTech Fund | Growth Investing [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Growth Investing. Growth stocks can react differently to issuer, political, market and economic developments than the market as a whole and other types of stocks. Growth stocks tend to be more expensive relative to their earnings or assets compared to other types of stocks. As a result, because growth stocks tend to be sensitive to changes in their earnings and to increasing interest rates and inflation, they tend to be more volatile than other types of stocks. In response, from time to time, growth investing as an investment style may go out of favor with investors.
Baron FinTech Fund | General Stock Market [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
General Stock Market. Fund losses may be incurred due to declines in one or more markets in which Fund investments are made. These declines may be the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s). In addition, turbulence as has recently been experienced, caused, among other reasons, by increased inflation, tightening monetary policy and interest rate increases by the US Federal Reserve or similar international bodies, and reduced liquidity in financial markets may continue to negatively affect many issuers, which could have an adverse effect on your Fund investment. Events involving limited liquidity, defaults, non-performance or other adverse developments that affect one industry, such as the financial services industry, or concerns or rumors about any events of these kinds, have in the past and may in the future lead to market-wide liquidity problems, may spread to other industries, and could negatively affect the value and liquidity of the Fund’s investments. Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market, such as Russia’s invasion of Ukraine in February 2022 and the world-wide response to it, have and may continue to adversely impact issuers and markets worldwide. Increasingly strained relations between countries, including between the U.S. and traditional allies and/or adversaries, could adversely affect U.S. issuers as well as non-U.S. issuers that rely on the United States for trade. A fund’s securities may be negatively impacted by inflation (or expectations for inflation), interest rates, global demand for particular products/services or resources, supply chain disruptions, natural disasters, pandemics, epidemics, terrorism, war, military confrontations, changes in trade regulations,
elevated levels of government debt, internal unrest and discord, economic sanctions, regulatory events and governmental or quasi-governmental actions, among others. The active and expanding conflict in the Middle East between Israel and Hamas presents considerable market risks. Raising the ceiling on U.S. government debt has become increasingly politicized. Any failure to increase the total amount that the U.S. government is authorized to borrow could lead to a default on U.S. government obligations, with unpredictable consequences for economies and markets in the U.S. and elsewhere.
Baron FinTech Fund | Non U S Securities [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Non‑U.S. Securities. Investing in non‑U.S. securities may involve additional risks to those inherent in investing in U.S. securities, including exchange rate fluctuations, political or economic instability, the imposition of exchange controls, expropriation, limited disclosure and illiquid markets.
Baron FinTech Fund | Developing Countries [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Developing Countries. The Fund invests in developing countries, which include countries in the MSCI Emerging Markets (EM) Index and other countries determined by the Adviser to be developing countries based on classifications made by the International Monetary Fund or on country characteristics similar to those of the countries in the EM Index. Investments in developing countries are subject to all of the risks of non-U.S. investing generally, and have additional heightened risks due to a lack of established legal, political, business and social frameworks to support securities markets, including: delays in settling portfolio securities transactions; currency and capital controls; greater sensitivity to interest rate changes; pervasiveness of corruption and crime; currency exchange rate volatility; and inflation, deflation or currency devaluation.
Baron FinTech Fund | Small and Mid Sized Companies [Member]  
Risk/Return: rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock
Small- and Mid‑Sized Companies. The Adviser believes there is more potential for capital appreciation in small- and mid‑sized companies, but there also may be more risk. Securities of small- and mid‑sized companies may not be well known to most investors, and the securities may be less actively traded than those of large businesses. The securities of small- and mid‑sized companies may fluctuate in price more widely than the stock market generally, and they may be more difficult to sell during market downturns. Small- and mid‑sized companies rely more on the skills of management and on their continued tenure. Investing in small- and mid‑sized companies requires a long-term outlook and may require shareholders to assume more risk and to have more patience than investing in the securities of larger, more established companies.
Baron FinTech Fund | Retail Shares  
Risk/Return: rr_RiskReturnAbstract  
Management Fee rr_ManagementFeesOverAssets 0.80%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.51%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.56%
Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.36%)
Total Annual Fund Operating Expenses After Expense Reimbursements rr_NetExpensesOverAssets 1.20% [1]
1 rr_ExpenseExampleYear01 $ 122
3 rr_ExpenseExampleYear03 381
5 rr_ExpenseExampleYear05 660
10 rr_ExpenseExampleYear10 $ 1,455
2020 rr_AnnualReturn2020 46.90%
2021 rr_AnnualReturn2021 15.04%
2022 rr_AnnualReturn2022 (33.46%)
2023 rr_AnnualReturn2023 26.96%
2024 rr_AnnualReturn2024 22.87%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 31.89%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2022
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (22.51%)
1 year rr_AverageAnnualReturnYear01 22.87%
5 years rr_AverageAnnualReturnYear05 11.90%
10 years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 11.90%
Inception date rr_AverageAnnualReturnInceptionDate Dec. 31, 2019
Baron FinTech Fund | Institutional Shares  
Risk/Return: rr_RiskReturnAbstract  
Management Fee rr_ManagementFeesOverAssets 0.80%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.33%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.13%
Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.18%)
Total Annual Fund Operating Expenses After Expense Reimbursements rr_NetExpensesOverAssets 0.95% [1]
1 rr_ExpenseExampleYear01 $ 97
3 rr_ExpenseExampleYear03 303
5 rr_ExpenseExampleYear05 525
10 rr_ExpenseExampleYear10 $ 1,166
1 year rr_AverageAnnualReturnYear01 23.14%
5 years rr_AverageAnnualReturnYear05 12.17%
10 years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 12.17%
Inception date rr_AverageAnnualReturnInceptionDate Dec. 31, 2019
Baron FinTech Fund | R6 Shares  
Risk/Return: rr_RiskReturnAbstract  
Management Fee rr_ManagementFeesOverAssets 0.80%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.10%
Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.15%)
Total Annual Fund Operating Expenses After Expense Reimbursements rr_NetExpensesOverAssets 0.95% [1]
1 rr_ExpenseExampleYear01 $ 97
3 rr_ExpenseExampleYear03 303
5 rr_ExpenseExampleYear05 525
10 rr_ExpenseExampleYear10 $ 1,166
1 year rr_AverageAnnualReturnYear01 23.14%
5 years rr_AverageAnnualReturnYear05 12.17%
10 years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 12.17%
Inception date rr_AverageAnnualReturnInceptionDate Dec. 31, 2019
Baron FinTech Fund | Return after taxes on distributions | Retail Shares  
Risk/Return: rr_RiskReturnAbstract  
1 year rr_AverageAnnualReturnYear01 22.87%
5 years rr_AverageAnnualReturnYear05 11.82%
10 years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 11.82%
Inception date rr_AverageAnnualReturnInceptionDate Dec. 31, 2019
Baron FinTech Fund | Return after taxes on distributions and sale of Fund shares | Retail Shares  
Risk/Return: rr_RiskReturnAbstract  
1 year rr_AverageAnnualReturnYear01 13.54%
5 years rr_AverageAnnualReturnYear05 9.48%
10 years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 9.48%
Inception date rr_AverageAnnualReturnInceptionDate Dec. 31, 2019
Baron FinTech Fund | FactSet Global FinTech Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 year rr_AverageAnnualReturnYear01 14.17%
5 years rr_AverageAnnualReturnYear05 3.93%
10 years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 3.93%
Baron FinTech Fund | S&P 500 Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 year rr_AverageAnnualReturnYear01 25.02%
5 years rr_AverageAnnualReturnYear05 14.53%
10 years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 14.53%
Baron FinTech Fund | MSCI ACWI Index (reflects no deduction for fees or expenses)  
Risk/Return: rr_RiskReturnAbstract  
1 year rr_AverageAnnualReturnYear01 17.49%
5 years rr_AverageAnnualReturnYear05 10.06%
10 years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 10.06%
[1] BAMCO (“BAMCO” or the “Adviser”) has agreed that, pursuant to a contract with an 11‑year term terminating on August 29, 2035, it will reimburse certain expenses of the Fund, limiting net annual operating expenses (portfolio transaction costs, interest and dividend expense, acquired fund fees and expenses, fees and expenses related to filing foreign tax reclaims, and extraordinary expenses are not subject to the operating expense limitation) to 1.20% of average daily net assets of Retail Shares, average daily net assets of Retail Shares, 0.95% of average daily net assets of Institutional Shares and 0.95% of average daily net assets of R6 shares. Only the Board of Trustees of the Fund may terminate the expense reimbursement agreement prior to its termination date.