15 Years of Investing for Growth | Mackenzie Investments

15 Years of Investing for Growth

US Mid Cap: from the Juniors to the Big Show

Watch as Phil Taller, Senior Vice President, Portfolio Manager, uses a hockey analogy to explain the differences between large, mid and small-cap companies

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Phil Taller: So because this is a US Mid Cap Fund for Canadians, we sometimes use a hockey analogy to talk about why the space is attractive. When we think about small caps, we think of them a little bit like Junior A players in hockey. They've done wonderful things to get to that level, because it's not easy. But are they going to make it to the NHL, to the big leagues. We all know that most Junior A players never quite get to the NHL. In the same way, small caps often do good things but many of them don't make it to mid cap or large cap status. Large caps on the other hand, we think of as the NHL veterans. They are players that have had a great career. They have shown themselves to be durable, but maybe they are a little bit towards the tail-end of their career and the prime time is behind them. Mid caps we look at as the players that have come out of Junior A. They are at the start of a nice long career. They've got that NHL contract because they've proven what they can do and they are right in the sweet spot of growth. That's the analogy we use to talk to Canadians about US mid caps.

Hunting for Growth in Mid Cap America

Portfolio Manager Phil Taller knows he's in the middle of a "sweet spot" by investing in US mid-cap equities. The numbers support that position. Since 2002, Taller has been managing Mackenzie US Mid Cap Growth Class, hunting for growth companies that aren't too big or too small. The Fund invests in growth companies that are not readily available in Canada.

"This fund has always had some interest in technology, that's something the US does very well" he says. "The other areas that the US does well over time are healthcare, medical technology, drug development and industrial products and services."

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Fund Insights

Leverage the Future

Technological innovation is creating growth opportunities in the US economy, especially for US mid-cap investing. Read our Fund Insights for more about secular tailwinds in US mid caps.

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