Baron Funds' Baron Fifth Avenue Growth Fund Comments on First Republic Bank

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Feb 13, 2017

First Republic Bank (NYSE:FRC) provides banking and wealth management services to affluent clients in metropolitan areas of the U.S. The stock appreciated 19% during the quarter as it participated in the post-election rally for financial companies and on expectations for faster economic growth and higher inflation. In addition, First Republic reported good financial results with 18% loan growth and 24% deposit growth. We added to our investment during the quarter and continue to believe the bank has an advantaged business model and a long runway for growth.

From Baron Funds' Fifth Avenue Growth Fund fourth quarter 2016 commentary.

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