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GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®). TRP has been independently verified for the twenty one- year period ended June 30, 2017 by KPMG LLP. The verification report is available upon request. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation.

TRP is a U.S. investment management firm with various investment advisers registered with the U.S. Securities and Exchange Commission, the U.K. Financial Conduct Authority, and other regulatory bodies in various countries and holds itself out as such to potential clients for GIPS purposes. TRP further defines itself under GIPS as a discretionary investment manager providing services primarily to institutional clients with regard to various mandates, which include U.S, international, and global strategies but excluding the services of the Private Asset Management group.

A complete list and description of all of the Firm's composites and/or a presentation that adheres to the GIPS® standards are available upon request. Additional information regarding the firm's policies and procedures for calculating and reporting performance results is available upon request

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Products Table Products Overview
  • All Asset Classes
  • Equity
  • Fixed Income
  • All Regions
  • Global
  • Europe
  • Asia Pacific
  • Emerging Mkts
  • US

Global Equity

Strategy

Global Focused Growth Equity

The Global Focused Growth Equity Composite seeks long-term capital appreciation primarily through investment in established companies operating in developed markets throughout the world, with faster earnings growth and reasonable valuation levels relative to market/sector averages. Further, the strategy seeks to buy companies where there is insight about improving economic returns of the business that are not fully reflected in their valuation.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

20.79%
5.93%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

42.35%
1.73

Inception Date 31-Jan-1996

Performance figures calculated in USD

Other Literature

David J. Eiswert, CFA
David J. Eiswert, CFA, Lead Portfolio Manager

David Eiswert is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is the portfolio manager for the Global Focused Growth Equity Strategy, a role he has held since October 1, 2012. Prior to his current role, Mr. Eiswert was the portfolio manager for the Global Technology Strategy from October 2008 until May 2012. He was a technology analyst from 2003 until 2012. Mr. Eiswert is a vice president of T. Rowe Price Group, Inc.

 

Strategy

Global Growth Equity

The Global Growth Equity Composite seeks long-term capital appreciation by investing primarily in a diversified portfolio of transferable equity and equity-related securities of larger cap companies listed on the world's stock markets. The portfolio may include investments in the securities of companies listed on the stock exchange of developed and developing countries.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

16.72%
4.65%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

33.48%
1.49

Inception Date 31-Oct-2008

Performance figures calculated in USD

Other Literature

Scott Berg
Scott Berg, Lead Portfolio Manager

Scott Berg is the portfolio manager for the T. Rowe Price Global Growth Equity Strategy and a vice president of T. Rowe Price Group, Inc.

 

Strategy

Global Natural Resources Equity

The Global Natural Resources Equity Composite seeks long-term capital appreciation primarily through investment in natural resource companies with potential for earnings growth greater than the rate of inflation.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

-5.40%
5.27%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-12.59%
0.38

Inception Date 30-Jun-1981

Performance figures calculated in USD

Other Literature

Shawn T.  Driscoll
Shawn T. Driscoll, Portfolio Manager

Shawn Driscoll is the portfolio manager of the Global Natural Resources Equity Strategy, including the New Era Fund, in the U.S. Equity Division. He is chairman of the Investment Advisory Committee of the Global Natural Resources Equity Strategy and a vice president and an Investment Advisory Committee member of the US Capital Appreciation, US Large-Cap Core Equity, US Growth Stock, US Large-Cap Core Equity, US Mid-Cap Growth Equity, US Multi-Cap Growth Equity, and Real Assets Equity Strategies. Shawn also is a vice president of T. Rowe Price Group, Inc.

 

Strategy

Global Real Estate Equity

The Global Real Estate Equity Composite seeks capital growth and current income by investing in global companies engaged in the real estate industry.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

0.78%
2.88%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-11.60%
0.12

Inception Date 31-Oct-2008

Performance figures calculated in USD

Other Literature

Nina P.  Jones
Nina P. Jones, Portfolio Manager

Nina Jones is the portfolio manager for the Global Real Estate Equity and U.S. Real Estate Equity Strategies.  She is also chairman of the Investment Advisory Committee for the U.S. Real Estate Equity Strategy.  Nina is also a vice president and advisory committee member of the Financial Services and Mid-Cap Value strategies.  She is a member of the investment advisory committee of the Global Growth, Global Stock and Institutional Large Cap Value strategies.  Nina is vice president of T. Rowe Price Group.

 

Strategy

Global Technology Equity

The Global Technology Equity Composite seeks long-term capital appreciation through investments in companies around the world expected to benefit from technological progress.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

23.35%
8.86%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

61.34%
0.22

Inception Date 31-Oct-2000

Performance figures calculated in USD

Other Literature

Alan Tu, CFA
Alan Tu, CFA, Portfolio Manager

Alan Tu is the portfolio manager for the Global Technology Equity Strategy in the U.S. Equity Division. He also is chairman of its Investment Advisory Committee. Alan is a vice president and an Investment Advisory Committee member of the US Small-Cap Growth II Equity, Science & Technology Equity, US Large-Cap Core Growth Equity, Communications and Technology Equity, and US Tax-Efficient Multi-Cap Growth Equity Strategies. In addition, he is an Investment Advisory Committee member of the Global Growth Equity Strategy. Alan also is a vice president of T. Rowe Price Group, Inc.

 

Strategy

Global Value Equity

The Global Value Equity Composite seeks long-term capital appreciation and reasonable income primarily through investment in companies domiciled in developed countries globally.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

1.43%
2.70%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

0.29%
-1.42

Inception Date 31-Jul-2012

Performance figures calculated in USD

Other Literature

Sebastien Mallet
Sebastien Mallet, Portfolio Manager

Sebastien Mallet is a portfolio manager in the Equity Division at T. Rowe Price, managing the Institutional Global Value Strategy. Mr. Mallet is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

 
 

European Equity

Strategy

Emerging Europe Equity

The Emerging Europe Equity Composite seeks long-term capital appreciation primarily through investment in companies in eastern Europe, Russia, Middle East, and northern Africa, with faster earnings growth and reasonable valuation levels relative to market/sector averages.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

-4.75%
5.86%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-21.63%
0.33

Inception Date 30-Sep-2000

Performance figures calculated in EUR

Other Literature

Ulle Adamson
Ulle Adamson, Portfolio Manager

Ulle Adamson is a portfolio manager in the Equity Division at T. Rowe Price. She is the portfolio manager for the Emerging Europe Equity Strategy. Ms. Adamson is a vice president and an Investment Advisory Committee member of the Emerging Markets Equity Strategy and Emerging Markets Discovery Equity Strategy. She is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

 

Valuations and performance are computed in USD and converted to EUR. When converting U.S. Dollar composite returns, benchmarks, dispersion and asset data, the same exchange rate source is used consistently. Total returns in non-U.S. Dollar currencies are calculated by adjusting U.S. Dollar performance by the percent change in the U.S. Dollar/foreign currency exchange rate (as determined by an independent third party) for the time periods selected. Net of fees performance is calculated using the currency-converted gross performance and then deducting the highest applicable EUR fee without the benefit of breakpoints. 

Strategy

Europe Equity

The Europe Equity Composite seeks long-term capital appreciation primarily through investment in established companies, in developed European markets, with faster earnings growth and reasonable valuation levels relative to market/sector averages. The strategy generally includes 0-10% exposure to emerging-market stocks, as defined by inclusion in the European segment of the MSCI's Emerging Markets (Free) Index.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

4.74%
3.31%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

2.48%
0.53

Inception Date 30-Jun-1995

Performance figures calculated in EUR

Other Literature

Tobias Mueller, CFA
Tobias Mueller, CFA, Portfolio Manager

Tobias Mueller is the portfolio manager for the European Select Strategy, effective October 2018. Previously, he covered the technology, medical technology and exchange sectors as a research analyst in the Equity Division. Mr. Mueller is a vice president of T. Rowe Price International Ltd.

 

Valuations and performance are computed in USD and converted to EUR. When converting U.S. Dollar composite returns, benchmarks, dispersion and asset data, the same exchange rate source is used consistently. Total returns in non-U.S. Dollar currencies are calculated by adjusting U.S. Dollar performance by the percent change in the U.S. Dollar/foreign currency exchange rate (as determined by an independent third party) for the time periods selected. Net of fees performance is calculated using the currency-converted gross performance and then deducting the highest applicable EUR fee without the benefit of breakpoints. 

Strategy

Europe ex-UK Equity

The Europe ex-UK Equity Composite seeks to provide long-term capital appreciation through an aggressive and focused approach to fund management. The composite will seek to hold a focused list of stocks selected through proprietary analysis and will also place a heavy emphasis on portfolio construction and risk management with the intention of maximizing risk-adjusted performance.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

5.45%
2.75%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

4.30%
0.92

Inception Date 28-Feb-2007

Performance figures calculated in EUR

Other Literature

Tobias Mueller, CFA
Tobias Mueller, CFA, Portfolio Manager

Tobias Mueller is the portfolio manager for the European Select Strategy, effective October 2018. Previously, he covered the technology, medical technology and exchange sectors as a research analyst in the Equity Division. Mr. Mueller is a vice president of T. Rowe Price International Ltd.

 

Valuations and performance are computed in USD and converted to EUR. When converting U.S. Dollar composite returns, benchmarks, dispersion and asset data, the same exchange rate source is used consistently. Total returns in non-U.S. Dollar currencies are calculated by adjusting U.S. Dollar performance by the percent change in the U.S. Dollar/foreign currency exchange rate (as determined by an independent third party) for the time periods selected. Net of fees performance is calculated using the currency-converted gross performance and then deducting the highest applicable EUR fee without the benefit of breakpoints. 

Strategy

Europe Smaller Companies Equity

The Europe Smaller Companies Equity Composite seeks long-term capital appreciation primarily through investment in small- and mid-cap companies traded in European markets, with faster earnings growth and reasonable valuation levels relative to market/sector averages. The average market cap of holdings within these portfolios will typically be <$5 billion.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

4.62%
6.01%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

23.24%
0.98

Inception Date 30-Nov-2008

Performance figures calculated in EUR

Other Literature

Benjamin Griffiths
Benjamin Griffiths, Portfolio Manager

Ben Griffiths is the portfolio manager for the European Smaller Companies Equity Strategy in the International Equity Division, covering European small-cap stocks and co-portfolio manager of the International Small-Cap Equity Strategy.  Ben is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd. 

 

Valuations and performance are computed in USD and converted to EUR. When converting U.S. Dollar composite returns, benchmarks, dispersion and asset data, the same exchange rate source is used consistently. Total returns in non-U.S. Dollar currencies are calculated by adjusting U.S. Dollar performance by the percent change in the U.S. Dollar/foreign currency exchange rate (as determined by an independent third party) for the time periods selected. Net of fees performance is calculated using the currency-converted gross performance and then deducting the highest applicable EUR fee without the benefit of breakpoints. 

Strategy

Europe Structured Research Equity

The Europe Structured Research Equity Composite seeks sector- and industry-neutral exposure to the MSCI Europe Index, with value added through stock selection skill. The strategy combines fundamental research with a disciplined portfolio construction process to achieve its investment objectives.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

-0.49%
0.81%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-6.77%
0.27

Inception Date 31-Jul-2009

Performance figures calculated in EUR

Other Literature

Ann Holcomb, CFA
Ann Holcomb, CFA, Co-Portfolio Manager

Ann Holcomb is a director of research, North America, in the U.S. Equity Division. Ann is a member of the Equity Steering Committee, and she is co-portfolio manager of the U.S. Structured Research Equity Strategy.  She is also is cochair of the Investment Advisory Committee of the U.S. Structured Research Equity Strategy. Ann is a vice president of T. Rowe Price Group, Inc. 

 

Valuations and performance are computed in USD and converted to EUR. When converting U.S. Dollar composite returns, benchmarks, dispersion and asset data, the same exchange rate source is used consistently. Total returns in non-U.S. Dollar currencies are calculated by adjusting U.S. Dollar performance by the percent change in the U.S. Dollar/foreign currency exchange rate (as determined by an independent third party) for the time periods selected. Net of fees performance is calculated using the currency-converted gross performance and then deducting the highest applicable EUR fee without the benefit of breakpoints. 

 

Asia-Pacific Equity

Strategy

Asia ex-Japan Equity

The Asia ex-Japan Equity Composite seeks long-term capital appreciation primarily through investment in companies in Asia, excluding Japan, with faster earnings growth and reasonable valuation levels relative to market/sector averages.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

8.83%
3.31%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

22.61%
0.87

Inception Date 31-Dec-1995

Performance figures calculated in USD

Other Literature

Anh Lu
Anh Lu, Portfolio Manager

Anh Lu is a portfolio manager in the Equity Division of T. Rowe Price Hong Kong Limited. Ms. Lu is the lead portfolio manager for the Asia ex-Japan Equity Strategy. She is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Hong Kong Limited.

 

Strategy

Asia Opportunities Equity

The Asia Opportunities Equity Composite seeks long-term capital appreciation primarily through investment in companies in Asia, excluding Japan, with faster earnings growth and reasonable valuation levels relative to market/sector averages.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

9.39%
4.21%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

20.01%
1.01

Inception Date 31-May-2014

Performance figures calculated in USD

Other Literature

Eric C. Moffett
Eric C. Moffett, Portfolio Manager

Eric Moffett is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Hong Kong Limited. He is the portfolio manager for the firm's Asia Opportunities equity strategy and chairman of the strategy's Investment Advisory Committee. 

 

Strategy

Japan Equity

The Japan Equity Composite seeks long-term capital appreciation primarily through investment in large-, mid-, and small-cap companies traded in Japan markets, with faster earnings growth and reasonable valuation levels relative to market/sector averages. The market cap of holdings within these portfolios will typically be between $4 and $20 billion.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

11.48%
5.32%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

27.67%
1.64

Inception Date 31-Dec-1995

Performance figures calculated in USD

Other Literature

Archibald Ciganer
Archibald Ciganer, Portfolio Manager

Archibald Ciganer is the portfolio manager of the Japan Equity Strategy in the International Equity Division. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Japan, Inc.

 
 

Emerging Markets Equity

Strategy

Emerging Europe Equity

The Emerging Europe Equity Composite seeks long-term capital appreciation primarily through investment in companies in eastern Europe, Russia, Middle East, and northern Africa, with faster earnings growth and reasonable valuation levels relative to market/sector averages.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

-4.75%
5.86%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-21.63%
0.33

Inception Date 30-Sep-2000

Performance figures calculated in EUR

Other Literature

Ulle Adamson
Ulle Adamson, Portfolio Manager

Ulle Adamson is a portfolio manager in the Equity Division at T. Rowe Price. She is the portfolio manager for the Emerging Europe Equity Strategy. Ms. Adamson is a vice president and an Investment Advisory Committee member of the Emerging Markets Equity Strategy and Emerging Markets Discovery Equity Strategy. She is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

 

Valuations and performance are computed in USD and converted to EUR. When converting U.S. Dollar composite returns, benchmarks, dispersion and asset data, the same exchange rate source is used consistently. Total returns in non-U.S. Dollar currencies are calculated by adjusting U.S. Dollar performance by the percent change in the U.S. Dollar/foreign currency exchange rate (as determined by an independent third party) for the time periods selected. Net of fees performance is calculated using the currency-converted gross performance and then deducting the highest applicable EUR fee without the benefit of breakpoints. 

Strategy

Emerging Markets Discovery Equity

Formerly Emerging Markets Value Equity Strategy

The Emerging Markets Discovery Equity Composite seeks long-term capital appreciation primarily through investment in emerging markets with attractive valuation levels relative to market/sector averages.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

-2.11%
4.38%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-6.06%
-0.35

Inception Date 30-Sep-2015

Performance figures calculated in USD

Other Literature

Ernest C.  Yeung
Ernest C. Yeung, Portfolio Manager

Ernest Yeung is a portfolio manager for the Emerging Markets Discovery Equity Strategy at T. Rowe Price. He was the co-portfolio manager for the International Small-Cap Equity Strategies from 2009 to 2014. Mr. Yeung is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Hong Kong Limited.

 

Strategy

Emerging Markets Equity

The Emerging Markets Equity Composite seeks long-term capital appreciation primarily through investment in established companies, in developing markets, with faster earnings growth and reasonable valuation levels relative to market/sector averages.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

4.17%
3.19%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

10.47%
1.09

Inception Date 31-Dec-1995

Performance figures calculated in USD

Other Literature

Gonzalo Pángaro
Gonzalo Pángaro, Portfolio Manager

Gonzalo Pángaro is the lead portfolio manager for the Emerging Markets Equity Strategy in the Equity Division. He is chairman of the Investment Advisory Committee for the Emerging Markets Equity Strategy  and a member of the International Equity Steering Committee. Gonzalo is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.

 

Strategy

Frontier Markets Equity

The Frontier Markets Equity Composite seeks long-term capital appreciation through investing in companies located, or with primary operations, in Frontier markets (defined as those markets which are not in the MSCI AC World Index) which are experiencing sustainable, strong earnings growth and trading at reasonable valuations relative to market/sector averages.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

-5.69%
4.96%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-10.24%
0.04

Inception Date 30-Jun-2014

Performance figures calculated in USD

Other Literature

Oliver Bell
Oliver Bell, Co-Portfolio Manager

Oliver Bell is a vice president of T. Rowe Price Group, Inc., associate head of Equity EMEA and the lead portfolio manager and chairman of the Investment Advisory Committee for the T. Rowe Price Middle East & Africa Equity Strategy and the Frontier Markets Equity Strategy. He is a member of the International Equity Steering Committee and a Board member of T. Rowe Price (Luxembourg) Management S.a.r.l.

 

Strategy

Latin America Equity

The Latin America Equity Composite seeks long-term capital appreciation through investment in companies in Latin America, with faster earnings growth and reasonable valuation levels relative to market/sector averages.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

-8.68%
4.58%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-23.17%
1.00

Inception Date 31-Dec-1995

Performance figures calculated in USD

Other Literature

Verena Wachnitz
Verena Wachnitz, Portfolio Manager

Verena Wachnitz is the portfolio manager for the Latin America Equity Strategy. Prior to this, she was an analyst in the Equity Research team, covering the telecom, financials, materials and real estate sectors in Latin America. Ms. Wachnitz is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

 

Strategy

Middle East & Africa Equity

The Middle East & Africa Equity Composite seeks long-term capital appreciation through investing across the region in companies who are experiencing strong earnings growth and trading at reasonable valuations relative to market/sector averages.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

-3.10%
4.02%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-11.51%
-0.05

Inception Date 30-Sep-2007

Performance figures calculated in USD

Other Literature

Oliver Bell
Oliver Bell, Co-Portfolio Manager

Oliver Bell is a vice president of T. Rowe Price Group, Inc., associate head of Equity EMEA and the lead portfolio manager and chairman of the Investment Advisory Committee for the T. Rowe Price Middle East & Africa Equity Strategy and the Frontier Markets Equity Strategy. He is a member of the International Equity Steering Committee and a Board member of T. Rowe Price (Luxembourg) Management S.a.r.l.

 
 

U.S. Equity

Strategy

US Large-Cap Core Equity

The US Large-Cap Core Equity Composite seeks long-term capital growth primarily through investments in common stocks of well established large-cap U.S. companies that may have either value or growth characteristics.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

11.20%
2.90%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

11.52%
-0.32

Inception Date 30-Jun-2009

Performance figures calculated in USD

Other Literature

Jeff Rottinghaus
Jeff Rottinghaus, Portfolio Manager

Jeff Rottinghaus is a portfolio manager in the U.S. Equity Division. He is president of the US Large-Cap Core Equity Strategy and chairman of its Investment Advisory Committee. In addition, he is a vice president and an Investment Advisory Committee member of the US Quantitative U.S. and US Dividend Growth Strategies. Jeff also is a vice president of T. Rowe Price Group, Inc.

 

Strategy

US Large-Cap Core Growth Equity

The US Large-Cap Core Growth Equity Composite seeks long-term capital appreciation primarily through investment in common stocks of well established large- and medium-cap blue chip companies with potential for above-average earnings growth. Current income is a secondary objective for this strategy.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

21.07%
6.11%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

36.17%
1.10

Inception Date 31-Dec-1995

Performance figures calculated in USD

Other Literature

Larry J. Puglia, CFA, CPA
Larry J. Puglia, CFA, CPA, Lead Portfolio Manager

Larry J. Puglia is a portfolio manager in the U.S. Equity Division. Larry has been managing the US Large-Cap Core Growth Equity Strategy since 1993 and has had lead responsibility for all institutional accounts and other investment products within the strategy since 1997. He also is president of the Investment Advisory Committee of the US Large-Cap Core Growth Equity Strategy. Larry is a vice president of T. Rowe Price Group, Inc.

 

Strategy

US Large-Cap Growth Equity

The US Large-Cap Growth Equity Composite seeks long-term capital appreciation by investing primarily in common stocks of large-cap growth companies based in the U.S.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

21.31%
4.35%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

36.32%
0.29

Inception Date 30-Nov-2001

Performance figures calculated in USD

Other Literature

Taymour Tamaddon, CFA
Taymour Tamaddon, CFA, Lead Portfolio Manager

Taymour Tamaddon is the portfolio manager of the US Large-Cap Growth Equity Strategy in the U.S. Equity Division. He is a vice president and member of the Investment Advisory Committees for the Health Sciences Equity, Global Growth Equity, US Multi-Cap Growth Equity, US Growth Stock, US Large-Cap Core Growth Equity, and US Capital Appreciation Strategies. He also is a vice president of the T. Rowe Price Institutional International Funds, Inc., and the T. Rowe Price International Funds, Inc. Taymour is a vice president of T. Rowe Price Group, Inc. 

 

Strategy

US Large-Cap Value Equity

The US Large-Cap Value Equity Composite seeks long-term capital appreciation primarily through investment in large companies that appear to be undervalued. Income is a secondary objective for this strategy.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

1.16%
2.18%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-8.94%
0.15

Inception Date 31-Mar-1990

Performance figures calculated in USD

Other Literature

Heather K. McPherson
Heather K. McPherson, Co-Portfolio Manager

Heather McPherson is a co-portfolio manager for the US Large-Cap Value Equity Strategy and an associate portfolio manager for the US Large-Cap Equity Income Strategy in the U.S. Equity Division. Heather is a member of the firm's U.S. Equity Steering Committee and is a vice president and an Investment Advisory Committee member of the US Large-Cap Equity Income, US Large-Cap Core Equity, US Quantitative Large, Global Natural Resources Equity, US Mid-Cap Value Equity, and US Large-Cap Value Equity Strategies. She is a trustee of the T. Rowe Price Foundation. Heather also is a vice president of T. Rowe Price Group, Inc. 

 

Strategy

US Smaller Companies Equity

The US Smaller Companies Equity Composite seeks long-term capital growth primarily through investment in stocks of smaller U.S. companies (small and mid-cap) believed to offer growth potential or be under-valued.

Important Information: Read the 11/19/2020 press release regarding a proposal to launch a new investment advisor. 

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

13.30%
4.50%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

13.43%
1.54

Inception Date 31-Jul-2001

Performance figures calculated in USD

Other Literature

Curt J. Organt, CFA
Curt J. Organt, CFA, Portfolio Manager

Curt Organt is the portfolio manager of the US Smaller Companies Equity Strategy and an associate portfolio manager of the US Small-Cap Core Equity Strategy in the U.S. Equity Division. Curt is a vice president and an Investment Advisory Committee member of the US Small-Cap Core Equity, US Diversified Small-Cap Value Equity, and US Small-Cap Growth Equity Strategies. He also is a vice president of T. Rowe Price Group, Inc.

 
 

Global Fixed Income

Strategy

Dynamic Global Bond

The Dynamic Global Bond (USD Hedged) Composite seeks to deliver consistent fixed income returns through a flexible, dynamic and diversified allocation to debt instruments from around the world. The strategy adopts a holistic and rigorous approach to risk management to protect clients on the downside, and particularly seeks to provide adequate diversification at times of equity markets’ correction.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

2.50%
3.23%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

8.98%
0.48

Inception Date 31-Jan-2015

Performance figures calculated in USD

Other Literature

Arif Husain, CFA
Arif Husain, CFA, Portfolio Manager

Arif Husain is the head of the International Fixed Income Division. He is a co-portfolio manager for the International Bond and Institutional International Bond Strategies and the lead portfolio manager for the Global Aggregate Bond Strategy. Arif also is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd. 

 

Strategy

Global Aggregate Bond

The Global Aggregate Strategy (USD) Bond Composite is comprised of portfolios that seek current income and capital appreciation primarily through investment in fixed income securities issued by governments and other investment grade entities. Below investment grade issues including high yield and emerging debt securities are also permitted. The use of derivatives, including futures and options, is also permitted.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

4.97%
1.20%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

9.51%
0.93

Inception Date 31-May-2006

Performance figures calculated in USD

Other Literature

Arif Husain, CFA
Arif Husain, CFA, Portfolio Manager

Arif Husain is the head of the International Fixed Income Division. He is a co-portfolio manager for the International Bond and Institutional International Bond Strategies and the lead portfolio manager for the Global Aggregate Bond Strategy. Arif also is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd. 

 

Strategy

Global High Income Bond

The Global High Income Bond Hedged to USD Composite seeks high current income and capital appreciation primarily through the investment in global fixed income securities rated below investment grade (BB or below) by S&P, Moody's, or another nationally recognized securities rating organization (NRSRO). The composite seeks global diversification by targeting North American and European high yield and emerging markets corporate issuers.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

3.77%
2.15%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

0.68%
0.24

Inception Date 31-Jan-2015

Performance figures calculated in USD

Other Literature

Michael Della Vedova
Michael Della Vedova, Portfolio Manager

Mike Della Vedova is a global high yield portfolio manager in the Fixed Income Division. He is a portfolio manager for the Europe High Yield Bond Strategy and co-portfolio manager for the Global High Yield Bond Fund and Global High Income Bond Strategy. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.

 

Strategy

Global Investment Grade Corporate Bond

The Global Investment Grade Corporate Bond Composite seeks capital appreciation primarily through investment in fixed income securities, floating rate bank loans and floating rate debt securities rated below investment grade (BB or below) by S&P, Moody’s or another nationally recognized securities rating organization (NRSRO).

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

4.89%
1.96%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

3.80%
0.13

Inception Date 30-Jun-2015

Performance figures calculated in USD

Other Literature

Steve Boothe
Steve Boothe, Portfolio Manager

Steve Boothe is a portfolio manager in the Fixed Income Division at T. Rowe Price. Mr. Boothe has lead portfolio management responsibilities for the Global Investment Grade and U.S. Investment Grade Corporate Bond Strategies. He is a member of the Global Multi-Sector and U.S. Taxable Bond teams, with a focus on global and U.S. investment-grade corporate bond portfolios. Mr. Boothe is an executive vice president and cochairman of the Investment Advisory Committee of the Corporate Bond Strategy. He is also a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.

 

Strategy

Global Multi-Sector Bond

The Global Multi-Sector Bond Composite seeks high income and some capital appreciation primarily through investment in sectors and securities within the Bloomberg Barclays Global Aggregate Bond USD Hedged Index. The strategy may also invest in bank loans, non-agency MBS, and convertible bonds.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

5.30%
4.58%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

5.56%
0.44

Inception Date 31-Dec-2008

Performance figures calculated in USD

Other Literature

Kenneth A.  Orchard
Kenneth A. Orchard, Lead Portfolio Manager

Kenneth Orchard is a senior portfolio manager in the Fixed Income Division and a member of the Global Fixed Income Investment team. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.

 

Strategy

High Yield Bond

The High Yield Master Bond Composite combines accounts included in the High Yield Core Composite and the High Yield Strategy Composite. The master composite seeks high current income and capital appreciation primarily through investment in fixed income securities rated below investment grade (BB or below) by S&P, Moody's, or another nationally recognized securities rating organization (NRSRO). Emerging market sovereign and corporate securities are excluded from this strategy.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

3.80%
1.57%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

1.86%
-0.02

Inception Date 30-Jun-1985

Performance figures calculated in USD

Other Literature

Rodney M.  Rayburn, CFA
Rodney M. Rayburn, CFA, Portfolio Manager

Rodney Rayburn is a portfolio manager in the Fixed Income Division, managing the Credit Opportunities and High Yield Bond Strategies. He is president of the Credit Opportunities Fund, Inc. He also is executive vice president of the High Yield Fund, Inc., and Institutional Income Funds, Inc., and chairman of their respective Investment Advisory Committees. He is a member of the Investment Advisory Committee for the Balance Fund. Rodney is a vice president of T. Rowe Price Associates, Inc., T. Rowe Price Group, Inc., and T. Rowe Price Trust Company.

 
 

European Fixed Income

Strategy

Euro Corporate Bond

The Euro Corporate Bond Composite seeks current income and capital appreciation primarily through investment in corporate fixed income securities denominated in Euros. The strategy may invest in preferred stock and other transferable debt securities including those issued by the governments of countries participating in the Euro.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

2.36%
0.92%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

0.69%
0.88

Inception Date 31-Jul-2001

Performance figures calculated in EUR

Other Literature

David Stanley
David Stanley, Portfolio Manager

David Stanley is a portfolio manager in the Fixed Income Division at T. Rowe Price, responsible for European corporate bond selection. Mr. Stanley is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

 

Valuations and performance are computed in USD and converted to EUR. When converting U.S. Dollar composite returns, benchmarks, dispersion and asset data, the same exchange rate source is used consistently. Total returns in non-U.S. Dollar currencies are calculated by adjusting U.S. Dollar performance by the percent change in the U.S. Dollar/foreign currency exchange rate (as determined by an independent third party) for the time periods selected. Net of fees performance is calculated using the currency-converted gross performance and then deducting the highest applicable EUR fee without the benefit of breakpoints. 

Strategy

Europe High Yield Bond

The Europe High Yield Bond Composite seeks to maximize total return primarily through investment in high yield corporate bonds denominated in European currencies.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

1.05%
2.43%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

0.41%
-0.03

Inception Date 31-Oct-2011

Performance figures calculated in EUR

Other Literature

Michael Della Vedova
Michael Della Vedova, Portfolio Manager

Mike Della Vedova is a global high yield portfolio manager in the Fixed Income Division. He is a portfolio manager for the Europe High Yield Bond Strategy and co-portfolio manager for the Global High Yield Bond Fund and Global High Income Bond Strategy. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.

 

Valuations and performance are computed in USD and converted to EUR. When converting U.S. Dollar composite returns, benchmarks, dispersion and asset data, the same exchange rate source is used consistently. Total returns in non-U.S. Dollar currencies are calculated by adjusting U.S. Dollar performance by the percent change in the U.S. Dollar/foreign currency exchange rate (as determined by an independent third party) for the time periods selected. Net of fees performance is calculated using the currency-converted gross performance and then deducting the highest applicable EUR fee without the benefit of breakpoints. 

 

Emerging Markets Fixed Income

Strategy

Emerging Markets Bond

The Emerging Markets Bond Composite seeks current income and capital appreciation primarily through investment in fixed income securities issued by emerging nations. The strategy may invest in low rated bonds, including those in default, when market conditions warrant. Absolute weightings in the Emerging Markets Bond Composite will generally be higher in the larger markets of Brazil, Mexico, and Russia than absolute weightings in the Emerging Markets Diversified Bond Composite.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

0.35%
3.09%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-0.06%
-0.04

Inception Date 31-Dec-1995

Performance figures calculated in USD

Other Literature

Michael J.  Conelius, CFA
Michael J. Conelius, CFA, Co-Portfolio Manager

Michael Conelius is a portfolio manager in the International Fixed Income Division. He co-manages the Emerging Markets Bond and the Institutional Emerging Markets Bond Funds and is chairman of each fund’s Investment Advisory Committee. Michael is an executive vice president of the Global Funds and International Funds, a vice president and an Investment Advisory Committee member of the Global Multi-Sector Bond Fund, a vice president of the Institutional Income Funds and Multi-Sector Account Portfolios, and a member of the Distressed Advisory Committee. He also is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., T. Rowe Price Trust Company, and T. Rowe Price International Ltd.

 

Strategy

Emerging Markets Corporate Bond

The Emerging Markets Corporate Bond Full-Authority Composite is comprised of portfolios seeking current income and capital appreciation primarily through investment in a broader universe of fixed income corporate debt securities and quasi-sovereign debt securities issued by companies located or having a business activity in emerging/developing countries. While largely focused on dollar-denominated corporate bonds, the composite has the ability to invest in local currency corporates as well as dollar-denominated sovereigns. The Full-Authority composite maintains broader discretion seeking to invest in the entire emerging markets corporate universe

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

4.73%
1.61%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

3.45%
0.86

Inception Date 31-May-2011

Performance figures calculated in USD

Other Literature

Samy Muaddi, CFA
Samy Muaddi, CFA, Portfolio Manager

Samy Muaddi is a portfolio manager in the International Fixed Income Division. He is the lead manager of the Emerging Markets Corporate Bond and Asia Credit Bond Strategies and co-manages the Emerging Markets Bond and Global High Income Bond Strategies. Samy also is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.

 

Strategy

Emerging Markets Local Currency Bond

The Emerging Markets Local Currency Bond Composite seeks to maximize total return by investing primarily in a widely diversified, global portfolio of bonds and other fixed and floating rate securities issued by governments, government agencies, supra-national and corporate issuers established, or conducting the predominant part of their business activity, in the economically emerging countries of Latin America, Asia, Europe, Africa and the Middle East. The composite's emphasis will be on investing in securities denominated in the currencies of the respective emerging countries.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

-0.08%
1.17%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

-0.77%
0.84

Inception Date 30-Sep-2007

Performance figures calculated in USD

Other Literature

Andrew Keirle
Andrew Keirle, Portfolio Manager

Andrew Keirle is a senior portfolio manager in the Fixed Income Division and a member of the Global Fixed Income Investment Team. Mr. Keirle is the lead portfolio manager for the Emerging Markets Local Currency Bond Strategy and has important input on a number of emerging markets bond strategies and global fixed income strategies. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

 
 

U.S. Fixed Income

Strategy

US Investment Grade Core Bond

The US Investment Grade Core Bond Composite seeks current income and capital appreciation primarily through investment in sectors and investment grade securities in U.S. Fixed Income Indices, including the Bloomberg Barclays U.S. Aggregate Index. The strategy does not typically deviate significantly from the benchmark, but has flexibility to do so when market conditions warrant.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

5.11%
1.31%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

6.34%
0.26

Inception Date 30-Jun-1979

Performance figures calculated in USD

Other Literature

Brian Brennan
Brian Brennan, Portfolio Manager

Brian Brennan is a portfolio manager in the Fixed Income Division at T. Rowe Price. Mr. Brennan has lead portfolio management responsibilities for the US Treasury, US Core Plus Bond, and Stable Value Strategies. He also is a member of the portfolio strategy team for T. Rowe Price's core and core plus mandates. Mr. Brennan is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., T. Rowe Price International Ltd, and T. Rowe Price Trust Company.

 
 

Past performance is not a reliable indicator of future performance. 

Gross performance returns are presented before management and all other fees, where applicable, but after trading expenses. Net of fees performance reflects the deduction of the highest applicable management fee that would be charged based on the fee schedule contained within this material, without the benefit of breakpoints. Gross and net performance returns reflect the reinvestment of dividends and are net of all non-reclaimable withholding taxes on dividends, interest income, and capital gains.