Category: Q2 2020

SMID Cap Value – Q2 2020 Commentary

July 29th, 2020
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 SMID Cap Value (SMIDV) Composite returned…

SMID Cap Growth – Q2 2020 Commentary

July 29th, 2020
Q2 was certainly a more enjoyable form of volatility for investors than Q1, but to say the first half of 2020 has been “unusual times” would be an understatement.  The shock of the pandemic, the historic magnitude of monetary and fiscal response, the major disruptions to daily behavioral patterns, the ups and downs of battling…

Small Cap Value – Q2 2020 Commentary

July 29th, 2020
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 Small Cap Value (SCV) Composite returned…

Small Cap Select SRI – Q2 2020 Commentary

July 29th, 2020
The Market In General U.S. equity markets rose significantly in the second quarter though not fully recovering from the decline since the beginning of the year. Uncertainty and volatility remain high as investors work to assess the damage done to the economy, the benefits of government stimulus and the length of time the virus will…

Small Cap Select – Q2 2020 Commentary

July 29th, 2020
The Market In General U.S. equity markets rose significantly in the second quarter though not fully recovering from the decline since the beginning of the year. Uncertainty and volatility remain high as investors work to assess the damage done to the economy, the benefits of government stimulus and the length of time the virus will…

Small Cap Growth – Q2 2020 Commentary

July 29th, 2020
Q2 was certainly a more enjoyable form of volatility for investors than Q1, but to say the first half of 2020 has been “unusual times” would be an understatement.  The shock of the pandemic, the historic magnitude of monetary and fiscal response, the major disruptions to daily behavioral patterns, the ups and downs of battling…

Small Cap Core – Q2 2020 Commentary

July 29th, 2020
Market Review The “too far, too fast” mantra currently being echoed throughout the financial media with regard to the U.S. equity market’s swift recovery from first quarter lows misses the market bifurcations we’ve seen in recent months.  While it’s true that some sectors of the market, particularly in the large-cap growth area, have regained most…

Mid Cap Value – Q2 2020 Commentary

July 29th, 2020
  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…

Micro Cap – Q2 2020 Commentary

July 29th, 2020
Market Review The Russell Microcap® Index increased 30.54% in the second quarter of 2020, as investors began to experience better clarity on the short and intermediate economic effects of the COVID-19 pandemic, and the associated  government response.  While this second quarter rally was significant, the index is still down -11.21% on a year-to-date basis.  Improved confidence…

Extended Small Cap – Q2 2020 Commentary

July 29th, 2020
We’ve discussed this year a philosophical teaching to expect the unexpected and to be prepared to make the best of it.  Following the swift events at the end of the first quarter, where a month’s time in March felt something like a full quarter, we came to the second quarter, where three months of time…

ESG SMID Cap – Q2 2020 Commentary

July 29th, 2020
A combination of government fiscal and monetary policy stimulus, optimism regarding the reopening of economies, and attractive equity valuations combined to deliver a rally for small and midcap companies in Q2 2020, with the Russell 2500™ appreciating 26.56%.  Even with this strong performance, the index is still down 11.05% on a year to date basis.  The…

All Cap Value – Q2 2020 Commentary

July 29th, 2020
The first half of 2020 was one of the most volatile periods in economic and stock market history. During January and February the unemployment rate was hovering close to 50 year lows at 3.5% levels with tame inflation and GDP growth of around 2% before the Covid19 impact. The negative impact from Covid19 started in…