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 2021 Mid Cap Growth Commentary

While Robinhood trading and short squeezes commanded headlines early in the quarter, more significant events impacting markets and economic data included substantial progress on the vaccine front, a turn lower in Covid-19 cases, and the passage of a very large fiscal stimulus bill.  Improving economic fundamentals lifted growth expectations as well as long-term interest rates, spurring debate about future inflation.  The cumulative effect on equity markets was generally positive, with most broader stock indices rising through the year’s first three months.

Read Full Baird Mid Cap Growth Commentary

PERFORMANCE

Annualized Returns (%)*

 3 MonthsYTD1-Year3-Year5-Year10-YearSince InceptionInception Date
Baird Mid Cap Growth Equity (gross) 1.53 1.53 70.71 21.63 20.59 15.10 13.16 6/30/93
Baird Mid Cap Growth Equity (net) 1.35 1.35 69.54 20.77 19.74 14.30 12.52 6/30/93
Russell MidCap® Growth Index -0.57 -0.57 68.61 19.41 18.39 14.11 10.97

*Returns less than one year are not annualized.



Annual Total Returns (%)

2020201920182017201620152014201320122011
Baird Mid Cap Growth Equity (gross) 36.01 37.43 -0.79 28.00 6.37 -2.79 5.80 34.13 17.64 5.60
Baird Mid Cap Growth Equity (net) 35.06 36.46 -1.50  27.10  5.63 -3.49 5.06 33.09 16.79 5.06
Russell Midcap Growth Index 35.59 35.47 -4.75 25.27 7.33 -0.20  11.90  35.75 15.82 -1.66

Data as of 3/31/21


Past performance does not guarantee future results.