Good question! The fund has stellar returns--on a 5-year basis you're looking at 20%+ return. But past performance is just one data point--and I personally don't like to choose funds just based on past performance.
You're right that the expense ratio is high (0.99%). The fund is actively managed and the top 10 holdings
amount to almost half of the fund. If you believe in stocks such as Spotify, Zoom, Coupa, maybe this fund is the right fit.
I also checked out the Comparables
tool and found out there are cheaper mid-cap growth funds, like Vanguard VMGMX, but this fund has performed significantly below MACGX.
Here is the comparison
of the 2 funds.
IMO MACGX is right for someone who believes in active management and likes those mid-cap growth stocks mentioned above. Also, bear in mind tax consequences--the turnover is 65%.