64. US mid-caps: planting the investment seeds for the large-caps of tomorrow

Having seen US larger companies - and the tech giants in particular - leading the recent stock market bounce, we ask Bob Kaynor, manager of the Schroder US Mid Cap fund, about the prospects for America’s medium-sized companies – the large-caps of tomorrow. He tells us about the investments he is making today, talks us through how different industries have performed in the sell-off, and explains the impact of unemployment and lockdown on the US consumer.
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A distinguishing characteristic of the Schroder US Mid Cap fund is that it invests in three different types of growth in the portfolio: ‘mispriced growth’ (companies with under-appreciated growth dynamics will be rewarded over time) ‘steady eddies (which provide defensive characteristics and ‘turnaround’ (firms that have experienced business or operational difficulties, yet there may be a catalyst in place to return to a growth path).

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