The Big Screen: Mid-Cap Growth Funds
Some 90% of the mid-cap funds we sifted didn't make our cut, but those that did followed a range of strategies to above-average gains.
In running the broker-sold (CVGRX Quote)Calamos Growth fund since its 1990 launch, John Calamos has used quantitative models to dig up small- and mid-cap stocks with solid growth prospects and attractive price tags. He has quietly topped his average peer in each of the past six years, and his fund tops all other mid-cap growth offerings over the past five and 10 years. The team of managers behind the no-load (VALSX Quote)Value Line Special Situations fund uses that firm's proprietary ratings systems and its own research to pick stocks that are underappreciated due to industry or company changes. That's led to a sprawling 300-stock portfolio, but the fund has also beaten its average competitor in each of the past six years. Saul Pannell, manager of the (ITHAX Quote)Hartford Capital Appreciation fund since its 1996 start, looks near and far for stocks in which he sees a 25% gain due to solid earnings, modest valuations or both. He has topped 97% of his peers and the S&P 500 over the past five years, but has less than half his fund in mid-cap stocks. That should discourage those looking for a pure mid-cap investment. The broker-sold (PEEAX Quote)Prudential US Emerging Growth and the no-load (ALMRX Quote)Alger MidCap funds tend to stash half their assets in health care and tech stocks, and aren't shy about trading among them, which might scare off some tax-conscious types. You can't say that tactic hasn't worked with these funds, however, as both have topped most of their peers over the past five years. Susan Hirsch has run the Prudential fund since its 1996 launch, while Dan Chung took over the Alger portfolio in the wake of September's terrorist attacks.| Mid-Cap Growth All-Stars |
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| Mid-Cap Growth fund | Five-Year Return | One-Year Return | |
| Calamos Growth | 27% | -7.7% | |
| Hartford Capital Appreciation | 21.9 | -6.9 | |
| Alger MidCap | 21.1 | -6.2 | |
| Value Line Special Situations | 16.3 | -17.7 | |
| Prudential US Emerging Growth | 14.7 | -20.3 | |
| Average Peer | 8.5 | -21.3 | |
| S&P 500 | 10.7 | -12 | |
| Source: Morningstar. Annualized returns through Dec. 31. | |||
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