Category: Mid Cap Value Commentaries

US equity markets sold off sharply during the second quarter of 2022, with all major US equity indices declining double digits.  The Russell Midcap Value (RMV) Index fell 14.68%, outperforming the S&P 500® Index, which declined 16.10%.  The Kennedy Capital Mid Cap Value (MCV) composite declined 14.03% (Gross) and declined 14.18% (Net) during the quarter,…

During the first quarter, equities collectively finished lower as measured by most major equity indices. After a robust fourth quarter and full year in 2021, investors reacted to the prospects of higher inflation, a reduction in fiscal stimulus, an increasingly hawkish Fed position, and a new level of geopolitical risk from Russia’s invasion of Ukraine.…

Equity markets closed out 2021 with generally positive returns for the fourth quarter. For the fourth quarter, the Kennedy Capital Mid Cap Value (MCV) composite returned 8.8% (gross of fees) and 8.6% (net of fees) compared to the Russell Midcap® Value (RMV) Index which returned 8.5%. For the full year, the MCV composite increased 32.2% (gross…

For the three months ended September 2021, the KCM Mid Cap Value Composite experienced a return of 0.42% (gross of fees) and 0.24% (net of fees) as compared to Russell Midcap® Value, which returned -1.01%.  For the year to date ended September 2021, the KCM Mid Cap Value Composite experienced a return of 21.51% (gross…

Equities continued to move higher during the second quarter, although the pace moderated from the strong gains experienced during the beginning of the year. The KCM Mid Cap Value (MCV) composite generated a quarterly return of 4.9% (gross of fees) and 4.7% (net of fees) compared to the Russell Mid Cap® Value (RMV) index return of…

Equities continued their strong performance during the first quarter or 2021, as investors continued their enthusiasm for companies expected to benefit from a stimulus driven reopening of the US economy. The KCM Mid Cap Value composite generated a return of 15.3% (gross of fees) and 15.1% (net of fees) compared to the Russell MidCap® Value…

After a remarkably strong fourth quarter, all major equity indices finished up for the year. The Kennedy Mid Cap Value (MCV) composite returned 9.2% (gross of fees) and 8.4% (net of fees) for the full year compared to the Russell Midcap® Value (RMV) Index which returned 5.0%. During the fourth quarter, the MCV composite increased…

Equity markets continued to generate gains during the third quarter with all major equity indices higher. During the quarter, the Mid Cap Value (MCV) Composite increased 6.6% (gross of fees) and 6.5% (net of fees), while the Russell Midcap® Value (RMV) Index increased 6.4%. Year to date, the MCV composite has declined -10.5% (gross of fees)…

  The second quarter saw a sharp recovery in equities from the lows experienced near the end of the first quarter. All major equity indices posted double-digit returns with large-cap growth stocks and the technology weighted NASDAQ leading the way with returns greater than 30%. For the quarter, the KCM Mid Cap Value (MCV) Composite…

The first quarter ended with the US and much of the rest of the world in the grips of the Coronavirus pandemic. The resulting turmoil has been and continues to be unlike anything ever experienced with large swaths of the US economy brought to a sudden standstill. While the initial government response to the virus…

The fourth quarter saw positive returns for US equities to close out 2019 with a strong year for equity performance with most major equity indices up at least 20%. During the quarter, the Mid Cap Value (MCV) Composite increased 8.6% (gross of fees) and 8.4% (net of fees) compared to the Russell Midcap® Value (RMV)…

Much like the second quarter, the third quarter saw muted returns for equities overall, but not without increasing volatility. For the third quarter, the Mid Cap Value (MCV) composite increased 1.21% (gross of fees) and 1.03% (net of fees) compared to the Russell Midcap® Value (RMV) index which also increased 1.22%. Year to date, the…

The second quarter saw modest but positive returns for US equities due to solid performance in June. The Mid Cap Value (MCV) composite increased 4.4% (gross of fees) and 4.2% (net of fees) for the quarter compared to 3.2% for the Russell Midcap® Value (RMV) index. Year-to-date, the MCV composite has increased 17.7% (gross of…

Equity markets began 2019 with a strong recovery from the sharp selloff experienced at the end of last year. In reaction to signs of a slowing global economy, the Federal Reserve along with most global central banks have reversed course from the rate increases and quantitative tightening path they had been following. While economic uncertainties…

The fourth quarter saw all equity indices sharply lower, as investors had multiple concerns to digest. The Federal Reserve has continued on the path of raising its target for short-term interest rates based upon the strength of the labor markets and the return of 2% inflation. Most Central banks, including the Fed, have curtailed bond…

Equity markets continued to produce gains during the 3rd quarter with all major US equity indices generating positive returns. During the 3rd quarter, the Mid Cap Value composite increased 2.03% (gross of fees) and 1.85% (net of fees) while the Russell Midcap® Value index increased 3.30%. Year-to-date, the Mid Cap Value composite has increased 2.19%…

Equity markets remained volatile during the second quarter as tariffs and trade wars have increased global uncertainty. The increased volatility witnessed so far in the first half of 2018 stands in sharp contrast to the relatively non-volatile markets experienced in 2017. For the second quarter, the Mid Cap Value Composite increased 2.2% (gross of fees)…

The first quarter of 2018 brought a return of volatility to equity markets, and delivered negative returns for the Russell Mid Cap® Value Index for the first time in the past 10 quarters. For the quarter, the KCM Mid Cap Value Composite declined -1.94% (gross of fees) and -2.14% (net of fees) compared to a…