Until April 2003, hedge funds were open only to investors with at least $1 million in assets. Nowadays you can get cheaper knock-offs in the form of mutual funds that mimic hedge funds and require only a $2,000 minimum investment. Management fees are typically lower, daily withdrawals are allowed and heavier regulation makes hedged mutual funds less prone to fraud. New York-based Baron Funds was the first of its kind. And its founder, chairman and CIO, Ron Baron, will be here December 5 to discuss long-term growth investing.