-----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, KCMen/f9K4MiLSnoUofITDuWg2y6DxLXn38oum5tGZBR6rHFDPH5UwDjQBdJAl0k zMdHQkuT5JbJz6eU/BpDMQ== 0000810902-98-000007.txt : 19981130 0000810902-98-000007.hdr.sgml : 19981130 ACCESSION NUMBER: 0000810902-98-000007 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 19980930 FILED AS OF DATE: 19981127 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARON ASSET FUND CENTRAL INDEX KEY: 0000810902 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 136891420 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: SEC FILE NUMBER: 811-05032 FILM NUMBER: 98760288 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 N-SAR (3.0.A) PAGE 1 000 B000000 09/30/98 000 C000000 0000810902 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 3.0.a 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 3 007 C010100 1 007 C020100 BARON ASSET FUND 007 C030100 N 007 C010200 2 007 C020200 BARON GROWTH & INCOME FUND 007 C030200 N 007 C010300 3 007 C020300 BARON SMALL CAP FUND 007 C030300 N 007 C010400 4 007 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 YORK 008 D02AA01 NY 008 D03AA01 10153 011 A00AA01 BARON CAPITAL, INC. 011 B00AA01 8-27533 011 C01AA01 NEW YORK 011 C02AA01 NY 011 C03AA01 10153 012 A00AA01 DST SYSTEMS, INC. 012 B00AA01 84-00448 PAGE 2 012 C01AA01 KANSAS CITY 012 C02AA01 MO 012 C03AA01 84105 013 A00AA01 PRICEWATERHOUSECOOPERS, LLP 013 B01AA01 NEW YORK 013 B02AA01 NY 013 B03AA01 10019 013 B04AA01 6013 014 A00AA01 BARON CAPITAL, INC. 014 B00AA01 8-27533 015 A00AA01 THE BANK OF NEW YORK 015 B00AA01 C 015 C01AA01 NEW YORK 015 C02AA01 NY 015 C03AA01 10286 015 E01AA01 X 018 00AA00 Y 019 A00AA00 N 019 B00AA00 0 020 A000001 BARON CAPITAL, INC. 020 B000001 13-3107580 020 C000001 5433 020 A000002 GOLDMAN SACHS 020 B000002 13-5515160 020 C000002 287 020 A000003 KALB VOORHIS 020 B000003 13-5549000 020 C000003 251 020 A000004 BEAR STEARNS 020 B000004 13-3604093 020 C000004 247 020 A000005 MORGAN STANLEY 020 B000005 13-2655998 020 C000005 246 020 A000006 BT ALEX BROWN & CO. 020 B000006 52-1319768 020 C000006 156 020 A000007 LEHMAN BROTHERS 020 B000007 13-2518466 020 C000007 135 020 A000008 MONTGOMERY 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A010100 0.0000 073 A020100 0.0000 073 B000100 0.0000 073 C000100 0.0000 074 A000100 14081 074 B000100 0 074 C000100 85000 PAGE 9 074 D000100 16870 074 E000100 18200 074 F000100 4279112 074 G000100 0 074 H000100 0 074 I000100 0 074 J000100 14194 074 K000100 0 074 L000100 7246 074 M000100 22 074 N000100 4434725 074 O000100 23179 074 P000100 0 074 Q000100 0 074 R010100 0 074 R020100 0 074 R030100 0 074 R040100 1040 074 S000100 0 074 T000100 4410506 074 U010100 110367 074 U020100 0 074 V010100 39.96 074 V020100 0.00 074 W000100 0.0000 074 X000100 303500 074 Y000100 0 075 A000100 0 075 B000100 4510865 076 000100 0.00 028 A010200 28267 028 A020200 0 028 A030200 0 028 A040200 23966 028 B010200 17187 028 B020200 0 028 B030200 0 028 B040200 19254 028 C010200 12232 028 C020200 0 028 C030200 0 028 C040200 23475 028 D010200 11791 028 D020200 0 028 D030200 0 028 D040200 29375 028 E010200 8048 028 E020200 0 028 E030200 0 028 E040200 35423 028 F010200 10045 PAGE 10 028 F020200 0 028 F030200 0 028 F040200 27516 028 G010200 87570 028 G020200 0 028 G030200 0 028 G040200 159009 028 H000200 0 042 A000200 0 042 B000200 0 042 C000200 100 042 D000200 0 042 E000200 0 042 F000200 0 042 G000200 0 042 H000200 0 043 000200 1078 044 000200 71 066 A000200 Y 066 B000200 N 066 C000200 N 066 D000200 N 066 E000200 Y 066 F000200 N 066 G000200 N 067 000200 N 068 A000200 N 068 B000200 N 069 000200 N 070 A010200 Y 070 A020200 N 070 B010200 Y 070 B020200 N 070 C010200 Y 070 C020200 N 070 D010200 Y 070 D020200 N 070 E010200 N 070 E020200 N 070 F010200 N 070 F020200 N 070 G010200 N 070 G020200 N 070 H010200 N 070 H020200 N 070 I010200 N 070 I020200 N 070 J010200 Y 070 J020200 Y 070 K010200 Y 070 K020200 N PAGE 11 070 L010200 Y 070 L020200 Y 070 M010200 N 070 M020200 N 070 N010200 Y 070 N020200 N 070 O010200 Y 070 O020200 Y 070 P010200 Y 070 P020200 N 070 Q010200 Y 070 Q020200 N 070 R010200 Y 070 R020200 N 071 A000200 177679 071 B000200 171212 071 C000200 424035 071 D000200 40 072 A000200 12 072 B000200 592 072 C000200 6407 072 D000200 0 072 E000200 48 072 F000200 4310 072 G000200 0 072 H000200 0 072 I000200 265 072 J000200 48 072 K000200 0 072 L000200 116 072 M000200 9 072 N000200 35 072 O000200 0 072 P000200 232 072 Q000200 0 072 R000200 39 072 S000200 0 072 T000200 1078 072 U000200 6 072 V000200 0 072 W000200 9 072 X000200 6147 072 Y000200 0 072 Z000200 900 072AA000200 0 072BB000200 6952 072CC010200 0 072CC020200 73445 072DD010200 282 072DD020200 0 072EE000200 929 PAGE 12 073 A010200 0.0170 073 A020200 0.0000 073 B000200 0.0560 073 C000200 0.0000 074 A000200 1936 074 B000200 0 074 C000200 0 074 D000200 3953 074 E000200 0 074 F000200 310872 074 G000200 0 074 H000200 0 074 I000200 0 074 J000200 7634 074 K000200 0 074 L000200 1006 074 M000200 8 074 N000200 325409 074 O000200 1348 074 P000200 0 074 Q000200 0 074 R010200 0 074 R020200 0 074 R030200 0 074 R040200 8503 074 S000200 0 074 T000200 315558 074 U010200 15527 074 U020200 0 074 V010200 20.32 074 V020200 0.00 074 W000200 0.0000 074 X000200 28000 074 Y000200 0 075 A000200 0 075 B000200 430684 076 000200 0.00 028 A010300 67108 028 A020300 0 028 A030300 0 028 A040300 12244 028 B010300 44438 028 B020300 0 028 B030300 0 028 B040300 11210 028 C010300 47913 028 C020300 0 028 C030300 0 028 C040300 18937 028 D010300 47071 028 D020300 0 PAGE 13 028 D030300 0 028 D040300 20126 028 E010300 31405 028 E020300 0 028 E030300 0 028 E040300 36827 028 F010300 18829 028 F020300 0 028 F030300 0 028 F040300 40502 028 G010300 256764 028 G020300 0 028 G030300 0 028 G040300 139846 028 H000300 0 042 A000300 0 042 B000300 0 042 C000300 100 042 D000300 0 042 E000300 0 042 F000300 0 042 G000300 0 042 H000300 0 043 000300 1010 044 000300 318 066 A000300 Y 066 B000300 N 066 C000300 Y 066 D000300 N 066 E000300 N 066 F000300 N 066 G000300 N 067 000300 N 068 A000300 N 068 B000300 N 069 000300 N 070 A010300 Y 070 A020300 N 070 B010300 Y 070 B020300 Y 070 C010300 Y 070 C020300 N 070 D010300 Y 070 D020300 N 070 E010300 N 070 E020300 N 070 F010300 N 070 F020300 N 070 G010300 N 070 G020300 N 070 H010300 N PAGE 14 070 H020300 N 070 I010300 N 070 I020300 N 070 J010300 Y 070 J020300 Y 070 K010300 Y 070 K020300 N 070 L010300 Y 070 L020300 Y 070 M010300 N 070 M020300 N 070 N010300 Y 070 N020300 N 070 O010300 Y 070 O020300 N 070 P010300 Y 070 P020300 N 070 Q010300 Y 070 Q020300 N 070 R010300 Y 070 R020300 N 071 A000300 724547 071 B000300 219736 071 C000300 368188 071 D000300 60 072 A000300 12 072 B000300 1395 072 C000300 1730 072 D000300 0 072 E000300 1688 072 F000300 4041 072 G000300 0 072 H000300 0 072 I000300 197 072 J000300 58 072 K000300 0 072 L000300 100 072 M000300 8 072 N000300 174 072 O000300 0 072 P000300 0 072 Q000300 0 072 R000300 39 072 S000300 0 072 T000300 1010 072 U000300 6 072 V000300 0 072 W000300 6 072 X000300 5639 072 Y000300 0 072 Z000300 -826 PAGE 15 072AA000300 0 072BB000300 26896 072CC010300 0 072CC020300 75518 072DD010300 0 072DD020300 0 072EE000300 0 073 A010300 0.0000 073 A020300 0.0000 073 B000300 0.0000 073 C000300 0.0000 074 A000300 0 074 B000300 0 074 C000300 6828 074 D000300 2178 074 E000300 0 074 F000300 394111 074 G000300 0 074 H000300 0 074 I000300 0 074 J000300 1921 074 K000300 0 074 L000300 476 074 M000300 23 074 N000300 405537 074 O000300 1510 074 P000300 0 074 Q000300 0 074 R010300 0 074 R020300 0 074 R030300 0 074 R040300 299 074 S000300 0 074 T000300 403728 074 U010300 46887 074 U020300 0 074 V010300 8.61 074 V020300 0.00 074 W000300 0.0000 074 X000300 36500 074 Y000300 0 075 A000300 0 075 B000300 404867 076 000300 0.00 SIGNATURE LINDA S. MARTINSON TITLE GENERAL COUNSEL EX-27 2
6 0000810902 BARON ASSET FUND 1 BARON ASSET FUND YEAR SEP-30-1998 OCT-01-1997 SEP-30-1998 $ 4,376,808,032 $ 4,399,181,818 $ 30,287,932 $ 5,255,886 0 $ 4,434,725,636 $ 23,179,523 0 $ 1,039,665 $ 24,219,188 0 $ 4,484,404,358 110,366,720 67,990,946 $ 4,637,960 0 $( 100,909,656) 0 $ 22,373,786 $ 4,410,506,448 $ 37,405,534 $ 11,260,530 $ 16,256,892 $ 59,740,533 $ 5,182,423 $( 76,452,243) $( 848,684,103) $( 919,953,923) 0 0 0 0 69,710,623 ( 27,334,849) 0 $ 1,186,008,054 0 $( 24,898,326) 0 0 $ 45,074,474 0 $ 59,740,533 $ 4,510,864,808 $ 47.43 $ 0.05 $( 7.52) 0 0 0 $ 39.96 0.132 0 0

EX-27 3
6 0000810902 BARON ASSET FUND 2 BARON GROWTH & INCOME FUND YEAR SEP-30-1998 OCT-01-1997 SEP-30-1998 $ 275,868,668 $ 314,824,552 $ 10,575,915 $ 0 $ 8,218 $ 325,408,685 $ 1,347,751 0 $ 8,503,084 $ 9,850,835 0 $ 282,019,889 15,527,447 15,702,090 $ 472,714 0 $( 5,890,637) 0 $ 38,955,884 $ 315,557,850 $ 6,407,337 $ 591,891 $ 47,659 $ 6,146,997 $ 899,890 $( 6,952,711) $( 73,445,498) $( 79,498,319) 0 $( 282,139) $( 929,398) 0 9,436,383 ( 9,658,984) 47,958 $( 75,274,011) $ 285,821 $ 1,560,614 0 0 $ 4,310,057 232,119 $ 6,146,997 $ 430,683,885 $ 24.89 $ 0.06 $( 4.56) $( 0.02) $( 0.05) 0 $ 20.32 0.014 0 0

EX-27 4
6 0000810902 BARON ASSET FUND 3 BARON SMALL CAP FUND YEAR SEP-30-1998 OCT-01-1997 SEP-30-1998 $ 478,634,266 $ 403,116,276 $ 2,397,204 $ 23,179 0 $ 405,536,659 $ 1,510,180 0 $ 298,481 $ 1,808,661 0 $ 506,138,465 46,886,613 0 $ 0 0 $( 26,892,477) 0 $( 75,517,990) $ 403,727,998 $ 1,729,757 $ 1,395,050 $ 1,687,592 $ 5,638,915 $( 826,516) $( 26,895,646) $( 75,517,990) $( 103,240,152) 0 0 0 0 65,055,206 ( 18,168,593) 0 $ 403,727,998 0 0 0 0 $ 4,041,420 0 $ 5,638,915 $ 404,866,978 $ 10.00 $( 0.02) $( 1.37) 0 0 0 $ 8.61 0.139 0 0

EX-99 5 REPORT OF INDEPENDENT AUDITORS PRICEWATERHOUSECOOPERS, L.L.P. 1301 Avenue of the Americas New York, NY 10019-6013 Tel: 212-259-1000 Fax: 212-259-1301 REPORT OF INDEPENDENT ACCOUNTANTS To the Shareholders and Board of Trustees of Baron Asset Fund: In planning and performing our audit of the financial statements and financial highlights of Baron Asset Fund (comprising, respectively, Baron Asset Fund, Baron Growth and Income, and Baron Small Cap), for the year ended September 30, 1998, we considered its internal control, including control over safeguarding securities, in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and financial highlights and to comply with the requirements for Form N-SAR, not to provide assurance on internal control. The management of Baron Asset Fund is responsible for establishing and maintaining internal control. In fulfilling this responsibility, estimates and judgements 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 and financial highlights 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 controls, errors or fraud may occur and may not be detected. Also, projection of any evaluation of internal control to future periods is subject to the risk that it may become inadequate because of changes in conditions or that the effectiveness of the 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 any specific internal control component does not reduce to a relatively low level the risk that errors or fraud in amounts that would be material in relation to the financial statements and financial highlights being audited may occur and not be detected within in timely period by employees in the normal course of performing their assigned functions. However, we noted no matters involving internal control, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of September 30, 1998. This report is intended solely for the information and use of management and the Securities and Exchange Commission. /s/ PricewaterhouseCoopers, LLP ------------------------------- PricewaterhouseCoopers, LLP New York, New York November 23, 1998 ~~-----END PRIVACY-ENHANCED MESSAGE-----~~