Meridian Funds, managed by ArrowMark Partners, released its “Meridian Small Cap Growth Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The U.S. election results, inflation, and interest rate direction influenced markets in the quarter. This led 7.1% gain in large cap growth stocks, resulting in 33.4% annual gains. Small cap growth stocks initially surged post-election, but US Federal Reserve's measured approach to rate cuts in 2025 and strong economic data reversed these gains. The market's initial optimism had given way to a more cautious...
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