Baron Funds, an asset management firm, published its “Baron Real Estate Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 11.08% was delivered by the fund’s institutional shares for the Q1 of 2021, exceeding the MSCI US REIT Index, which appreciated 8.50%, and modestly underperforming the MSCI USA IMI Extended Real Estate Index which rose 12.205 for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Baron Real Estate Fund, in its Q1 2021 investor letter, mentioned Fifth Wall Acquisition Corp. I (NASDAQ: FWAA), and shared their insights on the company. Fifth Wall Acquisition Corp. I is a Los Angeles, California-based real estate industry focused venture capital firm that currently has a $458 million market capitalization. In the past month, FWAA delivered a 2.37% return, while its 3-month gains are down by -5.13%. As of May 12, 2021, the stock closed at $10.59 per share.
Here is what Baron Real Estate Fund has to say about Fifth Wall Acquisition Corp. I in its Q1 2021 investor letter:
“In the first quarter, we invested in three SPACs, or special purpose acquisition companies, that intend to merge with real estate technology companies. In our opinion, each SPAC is led by a seasoned and highly regarded real estate sponsor.
Fifth Wall is among the largest and most active venture capital investors in proptech. Led by co-founder Brendan Wallace, Fifth Wall has developed impressive relationships with the management teams of several exciting public and private real estate companies and has invested in many promising proptech companies.”
Our calculations show that Fifth Wall Acquisition Corp. I (NASDAQ: FWAA) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. FWAA delivered a -6.68% return in the past 5 days as of writing.
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