Baron Real Estate Income Fund’s Q2 2025 Investor Letter

Baron Funds, an investment management company, released its “Baron Real Estate Income Fund” second-quarter 2025 investor letter. The fund decreased 0.23% (Institutional Shares) in the quarter compared to a 1.46% decline for the MSCI US REIT Index (the REIT Index). Since its inception on December 29, 2017, through June 30, 2025, the Fund achieved a cumulative return of 87.02%, more than double the 35.45% return of the REIT Index. In addition, please check the fund’s top five holdings to know its best picks in 2025.

A copy of Baron Real Estate Income Fund’s Q2 2025 investor letter can be downloaded here.