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

Q4 2020 Mid Cap Growth Commentary

The storyline remained the same for much of 2020’s final three months – difficult trends in COVID-19 cases and deaths, a heated political environment, and an accommodative fiscal and monetary backdrop. However, very strong efficacy data delivered by the Pfizer and Moderna vaccines stole the show in early November and drove equity markets higher into year end.

Read Full Baird Mid Cap Growth Commentary

PERFORMANCE

Annualized Returns (%)*

 3 MonthsYTD1-Year3-Year5-Year10-YearSince InceptionInception Date
Baird Mid Cap Growth Equity (gross) 18.96 36.01 36.01 22.86 20.35 15.78 13.22 6/30/93
Baird Mid Cap Growth Equity (net) 18.76 35.06 35.06 21.99 19.50 14.97 12.59 6/30/93
Russell MidCap® Growth Index 19.02 35.59 35.59 20.50 18.66 15.05 11.10

*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 12/31/20


Past performance does not guarantee future results.