JPMorgan Mid Cap Growth R6
JMGMX
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- JPMorgan Mid Cap Growth Fund R6 (JMGMX) is an open-end mutual fund managed by J.P. Morgan Investment Management Inc., a subsidiary of JPMorgan Chase & Co., that seeks long-term capital growth by investing at least 80% of its net assets in equity securities of mid-cap companies, including common stocks, convertible debt securities, and preferred securities convertible to common stocks, with market capitalizations similar to those within the Russell Midcap Growth Index; the fund maintains a diversified portfolio of 90-130 holdings, typically emphasizing companies with above-average growth prospects, leading competitive positions, durable business models, and management capable of sustained growth, while incorporating a fundamental momentum tilt by initiating positions in stocks with improving business trends. The fund offers multiple share classes including R6 (JMGMX, no-load with $15M minimum initial investment and net expense ratio of 0.65%), R5 (JMGFX), R4 (JMGQX), R3 (JMGPX), R2 (JMGZX), I (HLGEX), C (OMGCX), and A (OSGIX), benchmarked against the Russell Midcap Growth Index, with total assets under management of approximately $12.59 billion as of June 2025. Headquartered in New York, New York, the fund traces its strategy inception to March 1989, with the R6 share class launched on November 1, 2011, and primarily targets institutional and retirement investors seeking mid-cap growth exposure across U.S. sectors such as information technology (19.9%), consumer discretionary (20.3%), industrials (18.6%), and health care (14.3%), with minor allocations to foreign stocks (around 3%) and limited cash (under 2%). Recent leadership transitions include the retirement of longtime lead portfolio manager Tim Parton in March 2024, with Felise Agranoff (21 years of experience, comanager since 2016) assuming the lead role, supported initially by comanager Daniel Bloomgarden (promoted from analyst in July 2022) and an eight-member dedicated analyst team averaging 16 years of industry experience; in May 2025, Bloomgarden departed for another firm role and was replaced by longtime analyst Michael Stein (18 years of experience, covering industrials and energy since 2014) as comanager, ensuring continuity under Agranoff's key decision-making authority while consumer coverage responsibilities are redistributed among the team. The portfolio continues to exhibit a conservative position-sizing approach implemented post-2016 to balance risk, with top holdings typically capped at 2-4% (e.g., Palantir Technologies at 4.57%, AppLovin at 1.94%, and HubSpot at 1.87% as of mid-2025), a turnover ratio of 55%, and a weighted average market cap of $40.73 billion; the fund has maintained Morningstar Bronze Medalist and 4-star overall ratings as of June 2025, reflecting above-average People and Parent pillars despite an Average Process rating amid leadership changes. No major acquisitions, funding rounds, or new product launches were reported in the past 1-2 years, with strategic focus remaining on U.S. mid-cap growth amid fee waivers through October 31, 2025, to cap expenses at 0.65%.