Mid Cap Growth Strategy

OVERVIEW

The Baird Mid Cap Growth Strategy invests in U.S. mid-cap companies and is managed with a strong emphasis on risk control and a long-term perspective. The team strongly believes in having a true mid-cap product, with the majority of the portfolio invested in companies between $2B and $15B in market cap. The primary investment goal is to provide consistent, superior-to-market returns at a risk posture less than that of the market (vs. the Russell Midcap Growth Index). The team does this by finding companies for inclusion in the portfolio that have better growth prospects and capital structures than peers.

Portfolio Construction

  • A concentrated portfolio of generally 50–60 stocks
  • A majority of market cap range from $2 billion to $15 billion
  • The average position is 1%–3%, not to exceed 5% 
  • Sector weights 75%–125% relative to the benchmark, generally limited to 30% of portfolio
TEAM

For more information, contact Todd Haschker or the Intermediary Specialist in your region.

COMMENTARY

Q1 2019 Mid Cap Growth Commentary

The quarter’s most notable macro event was the about face of the Federal Reserve, which moved rapidly from a plan to raise rates several times in 2019 to signaling the potential end of the tightening cycle. With that shift, concerns about slowing global growth, the drag from tariffs and stagnate China trade negotiations, which weighed heavily on investor sentiment late in 2018, seemingly disappeared. Stocks rebounded sharply in January and didn’t look back, recovering almost the entire fourth quarter decline and registering the strongest quarterly increase since 2009.

Read Full Baird Mid Cap Growth Commentary

PERFORMANCE

Annualized Returns (%)*

 3 MonthsYTD1-Year3-Year5-Year10-YearSince InceptionInception Date
Baird Mid Cap Growth Equity (gross) 18.71 18.71 12.53 16.83 10.07 17.80 12.18 6/30/93
Baird Mid Cap Growth Equity (net) 18.52 18.52 11.76 16.01 9.30 17.05 11.57 6/30/93
Russell MidCap® Growth Index 19.62 19.62 11.51 15.06 10.89 17.60 10.05

*Returns less than one year are not annualized.



Annual Total Returns (%)

201820172016201520142013201220112010200920082007
Baird Mid Cap Growth Equity (gross)  -0.79 28.00 6.37 -2.78 5.80 34.13 17.64 5.60 28.17 41.75 -40.25 21.18
Baird Mid Cap Growth Equity (net) -1.5  27.10 5.63 -3.49 5.06 33.09 16.79 5.06 27.70 41.14 -40.54 20.59
Russell Midcap Growth Index -4.75  25.27 7.33 -0.20 11.90 35.75 15.82 -1.66 26.38 46.29 -44.32 11.43

Data as of 3/31/19


Past performance does not guarantee future results.