Category: ESG SMID Cap Commentaries

Historical commentaries are available upon request, please e-mail marketing@kennedycapital.com

ESG SMID Cap – Q1 2024 Commentary

April 23rd, 2024
The Russell 2500™ index returned 6.92% in the first quarter of 2024, with the Industrials (+11.76%) and Energy (+11.09%) sectors leading the way.  Strength in small and midcap equities was rather broad-based, with 9 out of 11 sectors delivering positive returns (Communications Services and Real Estate were the only sectors that declined in the quarter). While…

ESG SMID Cap – Q4 2023 Commentary

January 22nd, 2024
The Russell 2500™ index returned 13.35% in the fourth quarter of 2023 and 17.42% for the full year.  Overall, 2023 was a volatile year for Small- and Mid-Cap US equities.  The regional banking crisis took center stage early in the year, and tightening actions from the US Federal Reserve gave way to an outlook for stable…

ESG SMID Cap – Q3 2023 Commentary

October 23rd, 2023
The Russell 2500™ index returned (4.78)% in the third quarter of 2023, as concerns regarding the impact of higher interest rates moved to the forefront of investor sentiment as the quarter progressed.  Companies that carry higher levels of debt moved further out of favor, and concerns about the increased cost of funding large capital projects have…

ESG SMID Cap – Q2 2023 Commentary

July 24th, 2023
The Russell 2500™ index returned 5.2% in the second quarter of 2023, as the potential downside risks associated with the regional bank crisis experienced in March decreased in likelihood as the quarter progressed. The theme of the quarter was the accelerating pace of investment in semiconductors that serve as the backbone of artificial intelligence (A.I.). We…

ESG SMID Cap – Q1 2023 Commentary

April 25th, 2023
The Russell 2500™ index returned 3.5% in the first quarter of 2023, as strong performance in technology, industrial, and consumer stocks more than offset the impact of disruptions experienced in the banking sector.  The failure of Silicon Valley Bank – the nation’s 16th largest at the time – is likely to create reverberations through the financial…

ESG SMID Cap – Q4 2022 Commentary

January 27th, 2023
The Russell 2500™ index returned 7.4% in the fourth quarter of 2022 as optimism grew regarding a potential for a less restrictive US Federal Reserve monetary policy 2023.  European demand across a broad range of industries has been more resilient than expected, and many companies are beginning to experience improvement in supply chain reliability and a…

ESG SMID Cap – Q3 2022 Commentary

October 21st, 2022
The Russell 2500™ index declined nearly 2.8% in the third quarter of 2022, as a market rally early in the quarter was reversed by ongoing concerns regarding interest rate increases and the possibility of a recession in 2023.  Companies with meaningful exposure to European economic conditions are beginning to experience notable demand pressure, while the bulk…