Investors have been attracted to growth opportunities. The most attractive growth rates are in the small and mid-cap space, with the growth styles leading returns for the month. We believe mid- and small-caps will continue to lead returns over the short term, as recent earnings disappointments have been focused in the large-cap arena. |
Once there is significant evidence that the Fed is finished increasing rates, investors will begin to adopt late-cycle patterns. |
They tend to be more stable than smaller companies, yet have stronger growth rates than larger firms. You get the best of both worlds. |
When we viewed consecutive 12-month performance or non-overlapping cumulative periods, consistent top performers all had experienced management teams with tenure higher than their peers. Experienced management teams can successfully maneuver their funds through a variety of market environments. |