497 1 d883362d497.htm BARON INVESTMENT FUNDS TRUST BARON INVESTMENT FUNDS TRUST

BARON

FUNDS®

BARON INVESTMENT FUNDS TRUST

Supplement to the current Prospectus and Statement of Additional Information dated January 26, 2024

Board of Trustees Changes

Effective October 16, 2024, the following changes to the Trustees and officers of Baron Investment Funds Trust (the “Trust”) were implemented:

 

  •  

Linda S. Martinson stepped down from her roles as Chairman and a Trustee of the Board of Trustees (the “Board”) of the Trust.

 

  •  

Peggy C. Wong stepped down from her role as Trustee of the Board of the Trust.

 

  •  

Thomas J. Folliard became Chairman of the Board of the Trust.

 

  •  

Raymond Noveck stepped down from his role as the Lead Trustee of the Board of the Trust. Mr. Noveck will remain a Trustee of the Board of the Trust.

Accordingly, the following changes are made to the current Prospectus and Statement of Additional Information for the Trust:

All references to Ms. Martinson’s roles as Chairman and a Trustee of the Board of the Trust are deleted.

All references to Ms. Wong’s role as a Trustee of the Board of the Trust are deleted.

All references to the positions held by Mr. Folliard are updated to include his new position as Chairman of the Board of the Trust.

All references to Mr. Noveck’s role as the Lead Trustee of the Board of the Trust are deleted.

The following supplements the information (and supersedes any contrary information) contained in the table set forth in the section “Management of the Funds – Board of Trustees and Officers” in the Statement of Additional Information:

 

Name
(Year of Birth)
& Address(1)

  

Position(s)
Held With the
Funds

  

Term of
Office and
Length of
Time
Served

  

Principal
Occupation(s)
During the Past
Five Years

  

Number of
Portfolios
in Fund
Complex
Overseen
by Trustee

  

Other
Directorships
Held by
Trustee

Independent Trustees

        

Thomas J. Folliard

(1965)(4)(5)(6)

   Chairman and Trustee   6 years   Chairman: Baron Investment Funds Trust (2024-Present), Baron Select Funds (2024-Present); Non-Executive Chair of the Board: CarMax, Inc. (2016-Present); Trustee: Baron Investment Funds Trust (2017-Present), Baron Select Funds (2017-Present).   19   Director: PulteGroup, Inc. (2012-Present)

Raymond Noveck

(1943)(4)(5)(6)

   Trustee   37 years   Private Investor (1999-Present); Trustee: Baron Investment Funds Trust (1987-Present), Baron Select Funds (2003-Present); Lead Trustee: Baron Investment Funds Trust (1987-2024), Baron Select Funds (2003-2024).   19   None

Dated: October 21, 2024

STICKER-STATPROTRUST 10/21/2024

 

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