Baron Funds Launches Baron iOpportunity Fund; Fund Brings Baron's Value Orientation to Investing in the Internet.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 18, 2000 Fund shares available through Baron and Charles Schwab Charles Schwab can refer to:
in subscription period beginning January 18 Baron Capital Group today launched the subscription of Baron iOpportunity Fund, a no-load mutual fund No-load mutual fund An open-end investment company whose shares are sold without a sales charge. There can be other distribution charges, however, such as Article 12B-1 fees. A true no-load fund has neither a sales charge nor a distribution fee. that seeks Internet-related growth opportunities. Baron iOpportunity Fund seeks to invest in both new, emerging Internet companies and more mature "bricks and mortar A store (shop, supermarket, department store, etc.) in the real world. Contrast with clicks and mortar. " businesses, which Baron believes have significant, Internet-related growth opportunities. The Fund will focus on new media, eCommerce, electronic content delivery, networking and interactive communication. As with investments for the other Baron Funds, Baron will apply its value-oriented investment criteria to these opportunities. "The web has created enormous opportunities across most industries. The scalability and therefore, profit potential, of many of these businesses, when combined with the numbers of customers possible through the Internet, has created a powerful new investment dynamic. Baron iOpportunity Fund is poised to take advantage of these investment opportunities," said Ron Baron, Chairman and Chief Executive Officer of Baron Capital, Inc. However, since the Fund focuses its investments on Internet-related investments, it may involve a greater degree of risk than investing in more mature and established businesses. "We believe this Fund will be different than other Internet funds," said Morty Schaja, President of Baron Capital, Inc. "The Fund will invest in businesses with open-ended opportunities resulting from the rapidly changing information technology environment, and not just new dot.com companies. The Fund could potentially be more conservative than other Internet funds by focusing on businesses that we believe have long-term, sustainable competitive advantages. Baron will bring its value orientation Noun 1. value orientation - the principles of right and wrong that are accepted by an individual or a social group; "the Puritan ethic"; "a person with old-fashioned values" ethic, moral principle, value-system to investing in the Internet with Baron iOpportunity Fund." Baron iOpportunity Fund is managed by co-portfolio managers Mitch Rubin and Matt Ervin. Mr. Rubin is a graduate of the University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. and Harvard Law School Harvard Law School (colloquially, Harvard Law or HLS) is one of the professional graduate schools of Harvard University. Located in Cambridge, Massachusetts, Harvard Law is considered one of the most prestigious law schools in the United States. and has been with Baron since 1995. Prior to joining Baron, Mr. Rubin was an emerging growth stock research analyst at Solomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. and an associate at Latham & Watkins. Mr. Ervin is a graduate of Harvard (bachelors and masters degrees) and has also been with Baron since 1995. Prior to joining Baron, Mr. Ervin was a research analyst with Sanford C. Bernstein & Co. Both Mr. Rubin and Mr. Ervin have also been co-portfolio managers of Baron Growth Fund with Ron Baron since January 1999. Andrew Peck will be a senior analyst of the Fund. Mr. Peck is a graduate of Yale and has a JD/MBA from Stanford. Since joining Baron in 1998, Mr. Peck has focused his research analysis on Internet-related opportunities in Baron's other funds. All investments will be approved for purchase in advance by Ron Baron and Morty Schaja. Announcing Schwab's role in the fund subscription, Jeff Lyons, Schwab's executive vice president of mutual funds said, "This provides Schwab with a great opportunity to offer our customers access to an innovative new fund. Over the years, our clients have shown a strong interest in Baron Funds. I believe they appreciate getting information on new funds and the ability to get in on them from the ground floor. We're delighted to be able to make the Baron iOpportunity Fund available to our customers." Baron iOpportunity Fund is available during a six-week subscription period that will enable investors to buy shares of the Fund on February 29 at its initial offering price of $10.00 per share. The subscription offer is available through Schwab and from Baron Capital, Inc., the Fund's distributor. The Baron Capital Group companies, located at 767 Fifth Avenue in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , managed $9 billion in mutual funds, institutional and private accounts as of December 1999. For more information on Baron Funds please visit its website, located at http://www.baronfunds.com/ or call 1-800-992-2766. Orders to purchase shares under this offer will be accepted until 4:00 PM EST EST electroshock therapy. EST abbr. electroshock therapy , February 29, 2000. Thereafter, shares may be purchased at the net asset value next determined after receipt of the order. The minimum initial investment is $2,000 for an account through Baron or $2,500 for a brokerage account Brokerage Account An arrangement between an investor and a licensed brokerage firm that allows the investor to deposit funds with the firm and place investment orders through the brokerage, which then carries out the transactions on the investor's behalf. through Schwab ($2,000 for IRA Ira, in the Bible Ira (ī`rə), in the Bible. 1 Chief officer of David. 2, 3 Two of David's guard. IRA, abbreviation IRA. and custodial accounts Custodial Account 1. An account created at a bank, brokerage firm or mutual fund company that is managed by an adult for a minor that is under the age of 18 to 21 (depending on state legislation). 2. A retirement account managed for eligible employees by a custodian. ). For more complete information about Baron iOpportunity Fund, including charges and expenses, investors should obtain a prospectus by calling 1-800-992-2766, calling Schwab at 1-800-435-4000, or visiting www.schwab.com. Please read the prospectus carefully before investing. Charles Schwab & Co., Inc. (Member SIPC/NYSE) is a selected dealer for Baron iOpportunity Fund during the subscription offering period. For this service, it will receive remuneration REMUNERATION. Reward; recompense; salary. Dig. 17, 1, 7. from the Fund's distributor, Baron Capital, Inc., as disclosed in the Fund's prospectus. After the subscription period, Schwab will receive remuneration for record keeping and shareholder servicing for customers who purchase Baron iOpportunity Fund through Schwab (0000-5025). |
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