The U.S. Mid Cap Growth Strategy is managed by three experienced portfolio managers who bring complementary expertise spanning 25+ years of industry experience. Sonu Chawla, CFA serves as Partner and Portfolio Manager with 25 years of industry experience and 7 years at TSCM, specializing in fundamental research with emphasis on management quality and long-term compounding, covering Software, Technology Services, and Internet Communications sectors. Grant R. Babyak holds positions of Chief Executive Officer, Partner, and Portfolio Manager, bringing 37 years of industry experience and 25 years with TimesSquare, providing institutional memory and strategic oversight. Edward F. Salib serves as Partner and Portfolio Manager/Analyst focusing on consumer discretionary and staples sectors. The team is supported by 8 experienced research analysts in a collaborative research environment emphasizing thorough fundamental analysis. TimesSquare Capital Management LLC was founded in 2000 and operates as a significantly employee-owned organization and independent affiliate of Affiliated Managers Group since 2004. The firm employs 43 individuals including 19 equity partners and 21 investment professionals who average 23 years industry experience and 13 years at TSCM. The employee ownership structure aligns interests with client success and promotes retention of key professionals through equity participation.

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TimesSquare employs a unique bottom-up, fundamental research-intensive approach to identify mid cap growth stocks which they believe have the greatest potential to achieve price appreciation over a long-term horizon. The investment philosophy centers on four key criteria: quality management teams, sustainable competitive advantages, strong and consistent growth, and recurring revenue streams. The firm emphasizes an in-depth assessment of management quality, superior business models, and valuation discrepancies. Portfolio exposures generally favor quality and profitability characteristics while maintaining lower volatility and beta than the benchmark index. The strategy targets companies that demonstrate meaningful proportion of management net worth tied to company performance, reflecting the firm's emphasis on alignment of interests with shareholders. The investment team focuses on identifying businesses with sustainable competitive moats and the ability to generate consistent cash flows over extended periods. The approach has historically provided strong relative returns in normal fundamentally-driven markets and defensive characteristics during negative and bear markets, though it may lag during speculative market rallies. The strategy maintains approximately 75 quality growth stocks within the Russell Mid Cap Growth benchmark universe. The firm's goal is to build diversified portfolios of growth stocks that generate competitive risk-adjusted returns through disciplined security selection and patient, long-term investment approach.

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