0001193125-11-103626.txt : 20110420 0001193125-11-103626.hdr.sgml : 20110420 20110420153401 ACCESSION NUMBER: 0001193125-11-103626 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110420 DATE AS OF CHANGE: 20110420 EFFECTIVENESS DATE: 20110420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND) CENTRAL INDEX KEY: 0000810902 IRS NUMBER: 136891420 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 033-12112 FILM NUMBER: 11770569 BUSINESS ADDRESS: STREET 1: 767 FIFTH AVE STREET 2: 49TH FL CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2125832000 MAIL ADDRESS: STREET 1: 767 FIFTH AVE STREET 2: 49TH FL CITY: NEW YORK STATE: NY ZIP: 10153 FORMER COMPANY: FORMER CONFORMED NAME: BARON ASSET FUND DATE OF NAME CHANGE: 19920703 0000810902 S000000585 BARON OPPORTUNITY FUND C000001638 BARON OPPORTUNITY FUND BIOPX C000077821 Institutional Shares BIOIX 497K 1 d497k.htm BARON FUNDS - BARON OPPORTUNITY FUND Baron Funds - Baron Opportunity Fund

BARON

FUNDS®

Baron Opportunity Fund

Supplement dated April 20, 2011 to Summary Prospectus dated

January 28, 2011

Effective April 20, 2011, the Summary Prospectus of Baron Opportunity Fund (the “Fund”) is modified as follows:

On page 5 of the Summary Prospectus, “within a six-month period” in the first sentence of the first full paragraph under “You Can Purchase or Redeem Shares By:” is deleted in its entirety and replaced with “within a ninety-day period.”

This information supplements the Summary Prospectus dated January 28, 2011. This Supplement, the Summary Prospectus and the Prospectus constitute a current prospectus. To request another copy of the Summary Prospectus or the Prospectus, please call 1-800-992-2766 or visit our website at www.BaronFunds.com.