Baron Financials ETF on American Express Company
Thesis
Baron initiated American Express during the quarter following a pullback in its shares. The fund views the company as an industry leader gaining share in a large global market, supported by a trusted brand and leading returns on equity. Its affluent consumer and business customer base should benefit from solid economic growth and currently benign credit conditions.
“Both companies serve affluent consumers and businesses and are benefiting from solid economic growth and benign credit conditions”