Ron Baron, manager of the Baron Partners Fund, believes the government will invest a considerable amount of money in improving and updating infrastructure throughout the United States, and is moving his money into construction stocks ahead of this development, The Seattle Times reports.
“For years, America has underinvested by trillions of dollars in infrastructure,” Baron said. “There is a tremendous amount of spending that has to be done.”
As proof of this, Baron points to the collapse of the bridge in Minnesota in August and the work that was done in New Orleans to repair the levees in 2005. The
The $3.2 billion Baron Partners Fund is up 21% year-to-date through Oct. 30, more than twice the returns in the Standard & Poor’s 500 Index. Among the 40 market-neutral funds on the market, it’s the top performer.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.