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Baron Real Estate Income Fund
mutual fund
BRIFX
Payout Change
Pending
Price as of:
$16.32
+0.06
+0.37%
primary theme
Real Estate Sector Equity
share class
BRIFX (Mutual Fund)
Baron Real Estate Income Fund
Payout Change
Pending
Price as of:
$16.32
+0.06
+0.37%
primary theme
Real Estate Sector Equity
share class
BRIFX (Mutual Fund)
Baron Real Estate Income Fund
Payout Change
Pending
Price as of:
$16.32
+0.06
+0.37%
primary theme
Real Estate Sector Equity
share class
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
15.0%
1 yr return
33.0%
3 Yr Avg Return
2.0%
5 Yr Avg Return
9.8%
Net Assets
$148 M
Holdings in Top 10
64.0%
52 WEEK LOW AND HIGH
$16.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.32%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 96.59%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
BRIFX - Profile
Distributions
- YTD Total Return 15.0%
- 3 Yr Annualized Total Return 2.0%
- 5 Yr Annualized Total Return 9.8%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.94%
- Dividend Yield 1.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameBaron Real Estate Income Fund
-
Fund Family NameBARONFUNDS
-
Inception DateDec 29, 2017
-
Shares OutstandingN/A
-
Share ClassIndividual
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeffrey Kolitch
Fund Description
The Fund is a non‑diversified fund that under normal circumstances, invests at least 80% of its net assets in real estate income-producing securities and other real estate securities of any market capitalization, including common stocks and equity securities, debt and preferred securities, non‑U.S. real estate income-producing securities, and any other real estate-related yield securities, however, investments in non-U.S. securities are limited to 35% of the Fund’s total assets at the time of purchase. The Fund may invest in debt securities that have a rating of, or equivalent to, at least “BBB” by S&P Global Ratings or “Baa” by Moody’s Investors Services, Inc., or if unrated, are judged by the Adviser to be of comparable quality. The Fund may invest up to 35% of its total assets in such securities. Some debt securities purchased by the Fund may have very long maturities. The length of time remaining until maturity is one factor that the Adviser considers in purchasing a particular debt security.
The Fund is likely to maintain a significant portion of its assets in real estate investment trusts (“REITs”). REITs pool money to invest in properties (“equity REITs”) or mortgages (“mortgage REITs”), and their revenue primarily consists of rent derived from owned, income producing real estate properties, and capital gains from the sale of such properties. The Fund generally invests in equity REITs.
The Adviser seeks to invest in businesses it believes have sustainable competitive advantages, exceptional management, opportunities for growth, and an attractive valuation.
BRIFX - Performance
Return Ranking - Trailing
| Period | BRIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 15.0% | -11.1% | 22.8% | 5.00% |
| 1 Yr | 33.0% | -9.2% | 43.9% | 33.85% |
| 3 Yr | 2.0%* | -11.5% | 6.2% | 33.72% |
| 5 Yr | 9.8%* | -11.9% | 15.5% | 2.51% |
| 10 Yr | N/A* | -2.4% | 15.6% | N/A |
* Annualized
Return Ranking - Calendar
| Period | BRIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.8% | -17.6% | 24.6% | 5.75% |
| 2022 | -29.0% | -51.3% | 2.7% | 30.00% |
| 2021 | 27.3% | -7.7% | 52.3% | 67.45% |
| 2020 | 20.9% | -42.2% | 35.0% | 2.48% |
| 2019 | 35.0% | -0.8% | 43.1% | 2.15% |
Total Return Ranking - Trailing
| Period | BRIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 15.0% | -11.1% | 22.8% | 5.00% |
| 1 Yr | 33.0% | -9.2% | 43.9% | 33.85% |
| 3 Yr | 2.0%* | -11.5% | 6.2% | 33.72% |
| 5 Yr | 9.8%* | -11.9% | 15.5% | 2.51% |
| 10 Yr | N/A* | -2.4% | 15.6% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | BRIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 15.1% | -14.0% | 25.0% | 11.88% |
| 2022 | -27.6% | -40.7% | 7.8% | 74.23% |
| 2021 | 29.2% | 7.8% | 54.6% | 81.18% |
| 2020 | 22.0% | -36.6% | 44.3% | 3.31% |
| 2019 | 36.2% | 3.4% | 46.4% | 5.15% |
NAV & Total Return History
BRIFX - Holdings
Concentration Analysis
| BRIFX | Category Low | Category High | BRIFX % Rank | |
|---|---|---|---|---|
| Net Assets | 148 M | 1.39 M | 61.4 B | 68.11% |
| Number of Holdings | 33 | 22 | 519 | 81.68% |
| Net Assets in Top 10 | 93.3 M | 1.29 M | 32.8 B | 62.60% |
| Weighting of Top 10 | 63.98% | 13.2% | 90.0% | 9.16% |
Top 10 Holdings
- Equity Residential 9.79%
- Welltower Inc 8.79%
- American Tower Corp 8.73%
- AvalonBay Communities Inc 8.10%
- Equinix Inc 6.08%
- Digital Realty Trust Inc 5.86%
- Invitation Homes Inc 4.92%
- American Homes 4 Rent 4.85%
- Prologis Inc 3.96%
- Healthpeak Properties Inc 2.91%
Asset Allocation
| Weighting | Return Low | Return High | BRIFX % Rank | |
|---|---|---|---|---|
| Stocks | 97.42% | 0.00% | 105.52% | 72.14% |
| Other | 2.28% | -89.90% | 107.80% | 12.21% |
| Cash | 0.31% | -42.50% | 19.87% | 90.46% |
| Preferred Stocks | 0.00% | 0.00% | 31.13% | 58.78% |
| Convertible Bonds | 0.00% | 0.00% | 10.95% | 54.41% |
| Bonds | 0.00% | -3.17% | 155.83% | 56.87% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BRIFX % Rank | |
|---|---|---|---|---|
| Real Estate | 76.57% | 34.46% | 100.00% | 92.34% |
| Consumer Cyclical | 16.95% | 0.00% | 45.29% | 2.42% |
| Utilities | 3.55% | 0.00% | 3.55% | 1.21% |
| Financial Services | 2.93% | 0.00% | 37.05% | 6.05% |
| Technology | 0.00% | 0.00% | 12.02% | 64.52% |
| Industrials | 0.00% | 0.00% | 7.39% | 56.85% |
| Healthcare | 0.00% | 0.00% | 0.53% | 52.82% |
| Energy | 0.00% | 0.00% | 33.11% | 53.23% |
| Communication Services | 0.00% | 0.00% | 11.61% | 58.06% |
| Consumer Defense | 0.00% | 0.00% | 0.93% | 51.61% |
| Basic Materials | 0.00% | 0.00% | 13.69% | 54.44% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BRIFX % Rank | |
|---|---|---|---|---|
| US | 97.42% | 0.00% | 105.52% | 66.79% |
| Non US | 0.00% | 0.00% | 37.90% | 57.63% |
BRIFX - Expenses
Operational Fees
| BRIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.32% | 0.07% | 28.75% | 42.86% |
| Management Fee | 0.75% | 0.00% | 1.50% | 53.82% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 50.00% |
| Administrative Fee | N/A | 0.01% | 0.45% | N/A |
Sales Fees
| BRIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| BRIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| BRIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 96.59% | 0.11% | 380.00% | 80.66% |
BRIFX - Distributions
Dividend Yield Analysis
| BRIFX | Category Low | Category High | BRIFX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.95% | 0.00% | 13.03% | 77.10% |
Dividend Distribution Analysis
| BRIFX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | SemiAnnual | Quarterly | Quarterly |
Net Income Ratio Analysis
| BRIFX | Category Low | Category High | BRIFX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.94% | -1.14% | 6.05% | 56.37% |
Capital Gain Distribution Analysis
| BRIFX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Quarterly | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 24, 2024 | $0.039 | OrdinaryDividend |
| Mar 26, 2024 | $0.074 | OrdinaryDividend |
| Dec 21, 2023 | $0.036 | OrdinaryDividend |
| Sep 26, 2023 | $0.055 | OrdinaryDividend |
| Jun 27, 2023 | $0.088 | OrdinaryDividend |
| Mar 28, 2023 | $0.083 | OrdinaryDividend |
| Dec 27, 2022 | $0.025 | OrdinaryDividend |
| Sep 27, 2022 | $0.069 | OrdinaryDividend |
| Sep 27, 2022 | $0.092 | CapitalGainLongTerm |
| Jun 28, 2022 | $0.043 | OrdinaryDividend |
| Mar 29, 2022 | $0.029 | OrdinaryDividend |
| Dec 28, 2021 | $0.128 | OrdinaryDividend |
| Sep 23, 2021 | $0.048 | OrdinaryDividend |
| Jun 24, 2021 | $0.038 | OrdinaryDividend |
| Mar 25, 2021 | $0.043 | OrdinaryDividend |
| Dec 22, 2020 | $0.030 | OrdinaryDividend |
| Sep 24, 2020 | $0.019 | OrdinaryDividend |
| Jun 25, 2020 | $0.029 | OrdinaryDividend |
| Mar 26, 2020 | $0.030 | OrdinaryDividend |
| Dec 19, 2019 | $0.034 | OrdinaryDividend |
| Sep 27, 2019 | $0.030 | OrdinaryDividend |
| Mar 26, 2019 | $0.031 | OrdinaryDividend |
| Dec 27, 2018 | $0.019 | OrdinaryDividend |
| Sep 25, 2018 | $0.140 | OrdinaryDividend |
| Jun 27, 2018 | $0.054 | OrdinaryDividend |
| Apr 18, 2018 | $0.049 | OrdinaryDividend |
BRIFX - Fund Manager Analysis
Managers
Jeffrey Kolitch
Start Date
Tenure
Tenure Rank
Dec 29, 2017
4.42
4.4%
Jeffrey A. Kolitch has been the portfolio manager of Baron Real Estate Fund and Baron Real Estate Income Fund since their respective inceptions on December 31, 2009 and December 29, 2017. He joined the Adviser in 2005 to develop a real estate growth strategy. From 1995 until 2005, Mr. Kolitch worked at Goldman Sachs & Co., starting as an associate in the Equities Division where he became a Vice President in 1999. In 2000, he was selected to join the Equity Capital Markets Group as a Vice President in New York, and in 2002, Mr. Kolitch was named a Managing Director in Hong Kong. From 2004 until 2005, he served as a Managing Director in Goldman Sachs’ Equity Capital Markets Group in New York.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 28.42 | 8.12 | 16.42 |
