Ron Baron’s $45 Billion Firm ‘Studying’ Whether to Launch ETFs

One of the last remaining holdouts to the global $14 trillion exchange-traded fund industry is weighing whether to finally join in.

Baron Capital, which focuses on traditional mutual funds, hasn’t made a decision. But it’s sizing up the tax advantages and trading capabilities of ETFs. Known for its early bets on Elon Musk and its bottom-up stockpicking style, the firm manages roughly $45 billion.

“Plans to launch now? No. Are we studying it? Yes,” Michael Baron, co-president and portfolio manager, said at Baron Capital’s annual investment conference Friday at New York’s Lincoln Center. “The active ETF structure is ...