Baron FinTech Fund’s Q1 2025 Investor Letter

Baron Funds, an investment management company, released its “Baron FinTech Fund” first quarter 2025 investor letter. U.S. equities closed 5% lower in Q1, following a sharp decline in March. Markets started well with the S&P 500 Index reaching new highs. However, concerns about tariffs, inflation, and softer economic growth, along with concerns about AI secular growth, contributed to risk-off conditions. In the first quarter, the fund fell 1.31% (Institutional Shares) compared to a -7.52%...