-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ADOZkpj6N1EM2+dBa9bjpyTegY/rAfFSvIDRGlaH0++1odPrNP2kTPJd+SV5bnte qJGntYDqzi376U9RuZvaow== 0000810902-02-000021.txt : 20021129 0000810902-02-000021.hdr.sgml : 20021128 20021129125411 ACCESSION NUMBER: 0000810902-02-000021 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20020930 FILED AS OF DATE: 20021129 EFFECTIVENESS DATE: 20021129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARON ASSET FUND CENTRAL INDEX KEY: 0000810902 IRS NUMBER: 136891420 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-05032 FILM NUMBER: 02844806 BUSINESS ADDRESS: STREET 1: 767 FIFTH AVENUE STREET 2: 24TH FL CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2125832000 MAIL ADDRESS: STREET 1: 767 FIFTH AVE STREET 2: 24TH FL CITY: NEW YORK STATE: NY ZIP: 10153 NSAR-B 1 answer.fil SEMI-ANNUAL REPORT FOR BARON ASSET FUND PAGE 1 000 B000000 09/30/2002 000 C000000 0000810902 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 BARON ASSET FUND 001 B000000 811-5032 001 C000000 2125832000 002 A000000 767 FIFTH AVENUE, 49TH FLOOR 002 B000000 NEW YORK 002 C000000 NY 002 D010000 10153 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 Y 007 B000000 4 007 C010100 1 007 C020100 BARON ASSET FUND 007 C030100 N 007 C010200 2 007 C020200 BARON GROWTH FUND 007 C030200 N 007 C010300 3 007 C020300 BARON SMALL CAP FUND 007 C030300 N 007 C010400 4 007 C020400 BARON IOPPPORTUNITY FUND 007 C030400 N 007 C010500 5 007 C010600 6 007 C010700 7 007 C010800 8 007 C010900 9 007 C011000 10 008 A00AA01 BAMCO, INC. 008 B00AA01 A 008 C00AA01 801-29080 008 D01AA01 NEW 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Y 070 K020400 N 070 L010400 Y 070 L020400 N 070 M010400 N 070 M020400 N 070 N010400 Y 070 N020400 N 070 O010400 Y 070 O020400 N PAGE 18 070 P010400 Y 070 P020400 N 070 Q010400 Y 070 Q020400 N 070 R010400 N 070 R020400 N 071 A000400 69307 071 B000400 74387 071 C000400 71885 071 D000400 96 072 A000400 12 072 B000400 141 072 C000400 105 072 D000400 0 072 E000400 0 072 F000400 820 072 G000400 0 072 H000400 0 072 I000400 137 072 J000400 11 072 K000400 0 072 L000400 123 072 M000400 2 072 N000400 20 072 O000400 0 072 P000400 0 072 Q000400 0 072 R000400 32 072 S000400 0 072 T000400 205 072 U000400 0 072 V000400 0 072 W000400 3 072 X000400 1353 072 Y000400 123 072 Z000400 -984 072AA000400 0 072BB000400 22681 072CC010400 17848 072CC020400 0 072DD010400 0 072DD020400 0 072EE000400 0 073 A010400 0.0000 073 A020400 0.0000 073 B000400 0.0000 073 C000400 0.0000 074 A000400 1 074 B000400 0 074 C000400 4791 074 D000400 565 PAGE 19 074 E000400 0 074 F000400 51670 074 G000400 0 074 H000400 0 074 I000400 406 074 J000400 237 074 K000400 0 074 L000400 12 074 M000400 0 074 N000400 57682 074 O000400 148 074 P000400 0 074 Q000400 0 074 R010400 0 074 R020400 0 074 R030400 0 074 R040400 86 074 S000400 0 074 T000400 57448 074 U010400 15809942 074 U020400 0 074 V010400 3.63 074 V020400 0.00 074 W000400 0.0000 074 X000400 19582 074 Y000400 0 075 A000400 0 075 B000400 81941 076 000400 0.00 SIGNATURE LINDA S. MARTINSON TITLE 212-583-2000 EX-99 4 pwc.txt INTERNAL CONTROLS LETTER FROM AUDITORS REPORT OF INDEPENDENT ACCOUNTANTS TO THE BOARD OF TRUSTEES AND SHAREHOLDERS OF BARON ASSET FUND In planning and performing our audit of the financial statements of Baron Asset Fund(comprising, respectively, Baron Asset Fund, Baron Growth Fund, Baron Small Cap Fund and Baron iOpportunity Fund (the "Funds")) for the year ended September 30, 2002, we considered its internal control, including control activities for safeguarding securities, in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, not to provide assurance on internal control. The management of the Funds is responsible for establishing and maintaining internal control. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. Generally, controls that are relevant to an audit pertain to the entity's objective of preparing financial statements for external purposes that are fairly presented in conformity with generally accepted accounting principles. Those controls include the safeguarding of assets against unauthorized acquisition, use or disposition. Because of inherent limitations in internal control, errors or fraud may occur and not be detected. Also, projection of any evaluation of internal control to future periods is subject to the risk that controls may become inadequate because of changes in conditions or that the effectiveness of their design and operation may deteriorate. Our consideration of internal control would not necessarily disclose all matters in internal control that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements caused by error or fraud in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. However, we noted no matters involving internal control and its operation, including controls for safeguarding securities, that we consider to be material weaknesses as defined above as of September 30, 2002. This report is intended solely for the information and use of the Board of Trustees, management and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. /s/PricewaterhouseCoopers LLP - ----------------------------- PricewaterhouseCoopers LLP 1177 Avenue of the Americas New York, New York November 15, 2002 EX-99 5 certificationrb.txt CERTIFICATION LETTER FROM CEO BARON FUNDS 767 Fifth Avenue New York, NY 10153 I, RONALD BARON, certify that: 1. I have reviewed this report on Form N-SAR of Baron Asset Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial information included in this report, and the financial statements on which the financial information is based, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-2(c) under the Investment Company Act) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within in those entities, particularly during the period in which this report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report (the "Evaluation Date"); and c) presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize, and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: November 27, 2002 /s/ Ronald Baron ------------------------ Ronald Baron Chairman and Chief Executive Officer EX-99 6 certificationpw.txt CERTIFICATION LETTER FROM CFO BARON FUNDS 767 Fifth Avenue New York, NY 10153 I, PEGGY WONG, certify that: 1. I have reviewed this report on Form N-SAR of Baron Asset Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial information included in this report, and the financial statements on which the financial information is based, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-2(c) under the Investment Company Act) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within in those entities, particularly during the period in which this report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report (the "Evaluation Date"); and c) presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize, and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: November 27, 2002 /s/ Peggy Wong --------------------------- Peggy Wong Treasurer and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----