Baron Funds has launched the Baron International Growth Fund, which will invest in small- and mid-cap companies for the long term, primarily in developed nations, but it will hold some stock in emerging countries, as well.

Portfolio Manager Michael Kass says he will invest in companies with market capitalizations of $10 billion or less that are non-cyclical “sunrise businesses” on the upswing for years to come. Kass said he will use traditional valuation models to evaluate company fundamentals and set price targets.

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