Equity

Mid Growth SMA

Russell Midcap® Growth Index
Benchmark name
1/31/2006
Inception date
Discovery Growth Equity Team
Team
$19.6M
Assets under management
Data as of 12/31/2023
SMA overview
Investing on the right side of change
The Mid Growth SMA pursues long-term outperformance by investing in three distinct types of mid-cap growth stocks, including core growth companies, developing situations, and valuation opportunities.​

Innovative companies with superior fundamentals are frequently mispriced in equity markets, representing a key inefficiency that can be identified and exploited through intensive fundamental research.

Key differentiators

  • Identifies companies on the “right side of change” using a non-formulaic approach to idea generation
  • Develops bottom-up fundamental “edge” through all-cap “surround the company” research
  • Assesses each holding for attractive risk and return to avoid excessive valuations
  • Constructs portfolios to balance risk across core holdings, developing situations, and valuation opportunities
  • Maintains valuation targets as part of a strong sell discipline and risk management process

General facts

Weight average market cap

30.07

Dividend yield

0.30%

Quick resources

Performance

Average annual returns Add Minus

Average annual returns

(as of 12/31/2023)
1/31/2006
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Pure Gross)
8.21
14.25
24.84
24.84
-8.39
11.69
8.67
8.68
Composite (Net)
7.93
13.38
21.15
21.15
-11.14
8.40
5.47
5.48
Russell Midcap® Growth Index
7.58
14.55
25.87
25.87
1.31
13.81
10.57
9.47

One-month, three-month and year-to-date returns are not annualized.

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.

Calendar year Add Minus

Calendar year

(as of 12/31/2023)
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Fund
24.84
-40.73
3.90
59.73
41.57
-4.96
29.25
5.23
-0.46
2.72
Benchmark
25.87
-26.72
12.73
35.59
35.47
-4.75
25.27
7.33
-0.20
11.90

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Performance and volatility metrics Add Minus

Performance and volatility metrics

(as of 12/31/2023)
3 Year 5 Year 10 Year
Alpha -9.65 -2.66 -22.57
Beta 1.13 1.09 1.08
Downside Market Capture Ratio 119.92 109.50 105.08
Information Ratio -1.52 -0.34 -0.37
R2 0.95 0.94 0.94
Sharpe Ratio -0.43 0.39 0.37
Standard Deviation 24.50 24.88 19.97
Tracking Error 6.37 6.30 5.12
Upside Market Capture Ratio 102.77 119.80 116.51
Correlation 0.97 0.97 0.97

Composition

Portfolio statistics Add Minus

Portfolio statistics

(as of 12/31/2023)
SMA Benchmark
Number of holdings 64 333
Top 10 holdings Add Minus

Top 10 holdings

(as of 12/31/2023)
Security
SMA
CrowdStrike Holdings, Inc. Class A
3.27%
DexCom, Inc.
3.07%
IDEXX Laboratories, Inc.
2.57%
Gartner, Inc.
2.50%
Datadog Inc Class A
2.45%
Trade Desk, Inc. Class A
2.40%
Veeva Systems Inc Class A
2.37%
Waste Connections, Inc.
2.33%
Bio-Techne Corporation
2.25%
Monolithic Power Systems, Inc.
2.25%
Top 10 represents 25.47% of total net assets

Largest company weights are based on market value of the representative account and not necessarily held in all client portfolios. The information shown is not intended to be, nor should it be construed to be, a recommendation to buy or sell an individual security. A list of all holdings from the prior one-year period is available upon request.

Sector allocation Add Minus

Sector allocation

(as of 12/31/2023)
Type
SMA
Benchmark
Cash & equivalents
0.97% -
Communication services
7.90% 4.24%
Consumer discretionary
10.45% 13.35%
Consumer staples
1.26% 2.78%
Energy
0.00% 3.84%
Financials
7.16% 10.48%
Health care
18.25% 18.67%
Industrials
22.33% 19.58%
Information technology
27.54% 23.65%
Materials
1.08% 1.30%
Real estate
3.05% 1.72%
Utilities
0.00% 0.38%

Sector weighting is based on a representative account within the Allspring Global Investments composite and may have changed since the date specified. Percent total may not add to 100% due to rounding.

Documents

Literature Date
Fact Sheet 12/31/2023 Download Download
Our team
Meet the investment team

The team’s philosophy is to provide clients the power of long-term compounding through investing in businesses on the right side of change.  

Contact Us

We look forward to helping you with your investment needs

 

Market Risk: Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. Foreign Investment Risk: Foreign investments may be subject to lower liquidity, greater price volatility and risks related to adverse political, regulatory, market or economic developments. Growth/Value Investing Risk: Securities that exhibit growth or value characteristics tend to perform differently and shift into and out of favor with investors depending on changes in market and economic sentiment and conditions. Smaller Company Securities Risk: Companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

Allspring Managed Account Services (the firm) is a unit within Allspring Global Investments and is responsible for the management and administration of the Allspring Funds Management, LLC, retail separately managed account portfolios (wrap portfolios). Allspring Funds Management acts as a discretionary manager for separately managed accounts ("SMA") and as a non-discretionary model provider in a variety of managed account or wrap fee programs (“MA Programs”) sponsored by third party investment advisers, broker-dealers, or other financial services firms (a “Sponsor”). When acting as non-discretionary model provider, Allspring Funds Management responsibility is limited to providing non-discretionary investment recommendations (in the form of model portfolios) to the Sponsor. The Sponsor may use these recommendations in connection with its management of MA Program accounts. In these “model-based” programs, the Sponsor serves as the investment manager and maintains trade implementation responsibility.