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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The views of the author and any people interviewed are their own and do not constitute financial advice. However the knowledge that professional analysts have analysed a fund or trust in depth before assigning them a rating can be a valuable additional filter for anyone looking to make their own decisions. Before you make any investment decision make sure you’re comfortable and fully understand the risks. If you invest in fund or trust make sure you know what specific risks they’re exposed to. Past performance is not a reliable guide to future returns. Remember all investments can fall in value as well as rise, so you could make a loss.

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