Category: Q1 2021

SMID Cap Value – Q1 2021 Commentary

May 7th, 2021
Equities continued their strong performance during the first quarter of 2021, as investors continued their enthusiasm for companies expected to benefit from a stimulus driven reopening of the US economy. The KCM SMID Cap Value composite generated a return of 20.4% (gross of fees) and 20.1% (net of fees) compared to the Russell 2500™ Value…

SMID Cap Growth – Q1 2021 Commentary

May 7th, 2021
The market continued to reward SMID-cap investors with another quarter of solid returns, however when you peak under the covers the path was volatile and it was clearly a quarter of two halves.  Right out of the gate the year began strongly, exhibiting an extension of all the same factors we saw in Q4.  This…

Small Cap Value – Q1 2021 Commentary

May 7th, 2021
Equities continued their strong performance during the first quarter of 2021, as investors continued their enthusiasm for companies expected to benefit from a stimulus driven reopening of the US economy. The KCM Small Cap Value composite generated a return of 22.66% (gross of fees) and 22.39% (net of fees) compared to the Russell 2000® Value…

Small Cap Select – Q1 2021 Commentary

May 7th, 2021
The Market In General: US Small cap stocks posted a fourth consecutive quarter of strong returns and outperformed their larger cap peers to start off 2021.  The move higher was propelled by clarity around government policy following the runoff elections in early January and the passing of another federal stimulus bill.  The continued ramp up…

Small Cap Select SRI – Q1 2021 Commentary

May 7th, 2021
The Market In General: US Small cap stocks posted a fourth consecutive quarter of strong returns and outperformed their larger cap peers to start off 2021.  The move higher was propelled by clarity around government policy following the runoff elections in early January and the passing of another federal stimulus bill.  The continued ramp up…

Small Cap Core – Q1 2021 Commentary

May 7th, 2021
The Market  The small cap rally sustained in Q1 2021, with the Russell 2000® returning 12.7% vs. a 6.2% gain for the S&P 500®.  After significant outperformance of growth stocks vs. value in 2020, trend reversed meaningfully in the first quarter, with the Russell 2000® Value outperforming the Russell 2000® Growth Index.  The solid absolute performance…

Mid Cap Value – Q1 2021 Commentary

May 7th, 2021
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…

Micro Cap – Q1 2021 Commentary

May 7th, 2021
Market Review The Russell Microcap® Index returned 23.89% in the first quarter of 2021 and is up nearly 63% over the last 6 months, as economic stimulus, a commitment from the US Federal Reserve to low interest rates, and broad availability of effective COVID-19 vaccines have resulted in investor optimism.   Microcap stocks were the best…

Extended Small Cap – Q1 2021 Commentary

May 7th, 2021
After witnessing the very strong, liquidity-driven returns from Q420, we would have been hard-pressed to project the strength of the forces that subsequently transpired during Q121.  While some effects continued their prior trend (for example, the strong fund flows into small caps, including value), the intensity of macro impacts remained outsized and featured some truly…

ESG SMID Cap – Q1 2021 Commentary

May 7th, 2021
The Russell 2500™ returned nearly 11% in the first quarter of 2021, as anticipated benefits of the economy re-opening translated into share prices.  In a reversal of recent history, value stocks significantly outperformed their growth counterparts:  the Russell 2500™ Growth Index appreciated just 2.5% compared to a 16.8% gain in the Russell 2500™ Value.  Some…