TimesSquare Capital Management U.S. Focus Growth Strategy’s Q1 2024 Investor Letter

TimesSquare Capital Management, an equity investment management company, released its “U.S. Focus Growth Strategy” first-quarter investor letter. In the first quarter, the strategy returned 11.72% (gross) and 11.49% (net) compared to 9.50% for the Russell Midcap Growth Index. The first-quarter performance was barbelled, particularly for U.S. small- to mid-cap equities. The best-performing stocks were those with the highest quality (return on equity) or low valuations (price/earnings). Stocks with higher risk (beta) or stocks with hyper-growth expectations were also rewarded. In...