Baird Small/Mid Cap Growth Equity Fund Q1 2025 Commentary

2025-05-28 09:30:00 ET

Summary

• The first six weeks of the year continued the pattern in place for much of 2024, a rising stock market climbing on the back of a narrow group of companies which carried enough momentum to push equity indices to all-time highs.
• The Baird Small/Mid Cap Growth portfolio decreased -10.6% in the first quarter, net of fees, compared to the -10.8% decline in our primary benchmark, the Russell 2500 Growth Index.
• While slightly outperforming in a down market is nothing to brag about, we remain encouraged about our relative performance improvement as we outperformed the benchmark for the second quarter in a row.

Market Update

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