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A Great Option for Mid-Cap Growth Exposure

A Great Option for Mid-Cap Growth Exposure
Securities In This Article
Jackson Square SMID-Cap Growth Inv

Linda Abu Mushrefova: For investors seeking mid-cap growth exposure, Jackson Square SMID-Cap Growth is a great option.

The team invests in a concentrated, high active share portfolio comprised of stocks that exhibit a strong management team, sustainable competitive advantage, and attractive valuation. They adopt a a long-term time horizon when assessing companies and require a conversation with management prior to investing in a name. Their goal is to identify names that can grow at a rate greater than their weighted average cost of capital and offer downside protection. In addition to a disciplined research process, a stable team is a plus.

The fund has been overseen by portfolio managers Ken Broad and Chris Bonavico since Decemeber 2003. The portfolio managers also act as analysts and have additional support from a team of 10 generalists. The team has seen no departures since the early 2000s, and both portfolio managers invest over $1 million in the strategy, ensuring that they have skin in the game. The team of 12 is responsible for identifying companies that can grow their intrinsic value over time, which has rewarded investors over time.

It has topped its mid-cap growth peers and Russell Mid Cap Growth Index benchmark in every rolling 10-year period since December 2003. Overall, its proven process, tenured and stable bench, and research-intensive focus contribute to our confidence in this fund's ability to continue to deliver outperformance over the long term.

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About the Author

Linda Abu Mushrefova

Senior Product Manager, ETF's
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Linda Abu Mushrefova, CFA, is a manager research analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. She covers equity strategies.

Before rejoining Morningstar in 2017, Mushrefova was an analyst on the fixed-income team at Neuberger Berman, covering opportunistic strategies. From 2013-16, she held a variety of roles at Morningstar, including as a product consultant and a data analyst for the firm's open-end and hedge fund databases.

Mushrefova holds a bachelor's degree in economics from Northwestern University. She also holds the Chartered Financial Analyst® designation.

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