BARON ASSET FUND
NSAR-B/A, EX-27, 2000-11-30
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<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810902
<NAME> BARON ASSET FUND
<SERIES>
   <NUMBER> 3
   <NAME> BARON SMALL CAP FUND

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-2000
<PERIOD-START>                             OCT-01-1999
<PERIOD-END>                               SEP-30-2000
<INVESTMENTS-AT-COST>                      616,554,078
<INVESTMENTS-AT-VALUE>                     872,144,309
<RECEIVABLES>                               15,535,055
<ASSETS-OTHER>                                 593,670
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             888,273,034
<PAYABLE-FOR-SECURITIES>                     5,384,385
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,358,770
<TOTAL-LIABILITIES>                          8,743,155
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   607,137,509
<SHARES-COMMON-STOCK>                       54,807,115
<SHARES-COMMON-PRIOR>                       53,530,434
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     16,802,139
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   255,590,231
<NET-ASSETS>                               879,529,879
<DIVIDEND-INCOME>                              223,693
<INTEREST-INCOME>                            3,915,730
<OTHER-INCOME>                                       0
<EXPENSES-NET>                              12,958,438
<NET-INVESTMENT-INCOME>                    (8,819,015)
<REALIZED-GAINS-CURRENT>                    73,341,042
<APPREC-INCREASE-CURRENT>                   88,905,189
<NET-CHANGE-FROM-OPS>                      153,427,216
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     28,848,269
<NUMBER-OF-SHARES-REDEEMED>               (27,571,588)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                     163,846,747
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                 (55,944,421)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        9,766,731
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                             12,958,438
<AVERAGE-NET-ASSETS>                       976,465,703
<PER-SHARE-NAV-BEGIN>                            13.37
<PER-SHARE-NII>                                 (0.16)
<PER-SHARE-GAIN-APPREC>                           2.84
<PER-SHARE-DIVIDEND>                            (0.00)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.05
<EXPENSE-RATIO>                                  0.013




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