July 25, 2003 — The Baron Asset Fund (BARAX) has added a co-manager.
Andrew Peck, an analyst and vice president at Baron Capital, joined well-known stock picker Ron Baron on the $1.8 billion fund, according to a regulatory filing.
Peck, a senior analyst on the fund, has helped steer the portfolio into more mid-cap stocks over the past nine months, said Morty Schaja, president of Baron Capital.
Baron Asset has lagged its small-cap growth fund peers this year, but has topped them over the long term. This year though June, the fund returned 9.4%, versus 17.1% for similar funds. However, for the ten years ended last month, the Baron fund returned an average annualized 9.7%, versus 6.5% for its peers.
The portfolio is ranked 3 Stars by Standard & Poor’s.
In April, Ron Baron and two of the firm’s traders agreed to pay $2.7 million to settle SEC charges of stock-price manipulation without admitting or denying the charges.