Shares of Financial Engines, Inc. (NASDAQ:FNGN), a service provider to retirement plan participants, declined in the second quarter. The company has seen a slowdown in new assets under contract and has yet to see successful results from its revamped marketing campaign and increased advisor hours. Additionally, investors appear skeptical that the acquisition of The Mutual Fund Store will materially impact enrollment rates. We believe the acquisition is only now being integrated and will add to assets under management and double the addressable market over time. (Michael Baron)
Baron Focused Growth Fund second quarter 2016 commentary.
