Jonathan Good, manager of the Baird Small/Mid Cap Growth Fund, explains his index-beating strategy in an interview.
It can be tempting to chase performance during any given year, but unfortunately it’s a tried-and-true way to lower your investment returns in the long run.
His stock-selection strategy has led to the fund being rated five stars by Morningstar. It has a competitive record for its life of nearly four years. That’s an impressive record — beating the two broad indexes, especially for a fund that is not very concentrated. The Baird Small/Mid Cap Growth Fund tends to hold between 60 and 70 stocks of companies with market capitalizations ranging from $500 million to $12 billion.
“It might seem strange to say when the fund is down 24% that I am OK with our risk-reward over the next 12 months,” Good said.Good called the fund’s excellent long-term record “a function of good bottom-up stock picking and having good, quality businesses that have outperformed.” Those include dynamic innovators as well as “long-term compounders with consistent and revenue growth, which fed multiple expansion.
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