Baron Investment Funds Trust  

767 Fifth Avenue, 49^th Floor  

New York, NY 10153  

Tel: 212.583.2000  

Fax: 212.583.2014  

April 6, 2020 

VIA EDGAR  

U.S. Securities and Exchange Commission  

100 F Street, NE  

Washington D.C. 20549  

Re: Baron Investment Funds Trust (File Nos. 033-12112 and 811-05032)  

Filing Pursuant to Rule 497(c)  

Ladies and Gentlemen:  

Pursuant to Rule 497(c) under the Securities Act of 1933, and Section 8(a) under the Investment Company Act of 1940, please be advised that Baron Investment Funds Trust (the “Registrant”) is filing exhibits containing interactive data format principal risk information. The sole purpose of this filing is to file revised principal risk information addressing COVID-19 for all series of the Registrant, in interactive data format.  

Please do not hesitate to contact me at (212) 583-2119 if you have any questions or require anything further.  

Very truly yours,  

/s/ Patrick M. Patalino  

Patrick M. Patalino  

Vice President and General Counsel