RRX - TimesSquare U.S. Small Cap Growth Strategy Q1 2025 Commentary
2025-04-23 14:58:00 ET
Summary
- Expectations for businesses and markets were broadly positive as 2025 began. Hopes for a pro-business, lighter regulatory environment lifted global markets in January.
- However, delays and uncertainties regarding U.S. policies tempered markets in February and the U.S. pulled back sharply in March (to say nothing about the early part of April).
- Even before the market’s tariff tantrum at the start of April, there were inflationary pressures. Global Purchasing Manager Indices (PMIs) showed moderating New Order rates and higher Prices Paid/Output for manufacturing and service activities.
- As long-term investors, our portfolios have historically been more resilient to these types of market upheavals, and that investment approach has not changed.
Performance
Annualized |
1Q25 |
1YR |
3YR |
5YR |
7YR |
10YR |
U.S. Small Cap Growth Composite (Gross) |
9.41% |
-0.68% |
1.95% |
12.59% |
7.32% |
7.99% |
U.S. Small Cap Growth Composite ((NET)) |
-9.64% |
-1.67% |
-0.94% |
11.48% |
6.26% |
6.93% |
Russell 2000® Growth Index |
11.12% |
4.86% |
0.78% |
10.77% |
5.03% |
6.14% |