Definitive Materials Filed by Investment Companies. (497)
May 14 2013 - 11:44AM
Edgar (US Regulatory)
BARON
FUNDS
®
Baron Partners Fund
Baron Focused Growth Fund
Baron International Growth Fund
Baron Real Estate Fund
Baron Emerging
Markets Fund
Baron Energy and Resources Fund
Baron Global Advantage Fund
Supplement dated May 14, 2013
to Statement of Additional Information dated April 26, 2013
Effective May 7, 2013, Anita Rosenberg is a Trustee of Baron Select Funds.
Effective May 7, 2013, the Statement of Additional Information of the Baron
Funds
®
(the Funds) is modified as follows:
On page 17 of the Statement of Additional Information, Ms. Rosenbergs information is added to the Independent Trustees table as follows:
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Name, Address &
Age
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Position(s)
Held with
the Fund
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Length of
Time Served
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Principal
Occupation(s)
During the Past
Five
Years
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Number of
Portfolios in
Fund Complex
Overseen
by
Trustee
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Other Trustee/
Directorships
During Past
5 Years
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Anita Rosenberg
(4),(5)
1235 N. Astor Street
Chicago, Illinois
60610
Age: 49
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Trustee
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<1 year (appointed 5/2013)
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Partner, Portfolio Manager: Aurora Investment Management (formerly known as Harris Alternatives, LLC) (1999-2009); Senior Advisor: Magnetar Capital (2011-2012); Trustee:
Baron Investment Funds Trust, Baron Select Funds (5/13-Present).
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12
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Director: Golub Business Development Company (2011-Present).
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On page 19 of the Statement of Additional Information, the following paragraph is added underneath
the seventh full paragraph:
Anita Rosenberg Ms. Rosenberg has been a Trustee of the Trust and the Board of the mutual funds
of Baron Investment Funds Trust for less than one year. She was appointed as Trustee in May of 2013. In addition to her tenure as a Trustee of the Baron mutual funds, Ms. Rosenberg serves on the board of the Golub Business Development Company.
Ms. Rosenberg was a senior advisor to Magnetar Capital, a multi-strategy hedge fund. Ms. Rosenberg was a partner and portfolio manager of Harris Alternatives, LLC, and its predecessor, Harris Alternatives, L.P., from 1999 until her
retirement in 2009.
On page 21 of the Statement of Additional Information, the following information is inserted in the table under
Trustee Ownership of Fund Shares:
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Anita Rosenberg
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Baron Partners Fund
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$
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0
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None
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Baron Focused Growth Fund
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$
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0
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None
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Baron International Growth Fund
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$
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0
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None
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Baron Real Estate Fund
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$
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0
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None
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Baron Emerging Markets Fund
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$
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0
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None
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Baron Energy and Resources Fund
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$
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0
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None
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Baron Global Advantage Fund
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$
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0
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None
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On page 22 of the Statement of Additional Information, the following information is inserted under
Independent Trustees:
in the table under
Compensation:
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Anita Rosenberg
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$0
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N/A
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N/A
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$0
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This information supplements the Statement of Additional Information dated April 26, 2013. This Supplement and
the Statement of Additional Information constitute a current statement of additional information. To request another copy of the Prospectus and Statement of Additional Information, please call 1-800-992-2766 or visit our website at
www.BaronFunds.com.