Discover how curiosity drives better outcomes for you
Asking better questions pushes us to dig deeper and conduct more rigorous research to deliver an investment edge. Explore the benefits of our active investing approach.
- Delivering client results
- Active management approach
- Research driven strategies
- Global market perspectives
1. Curiosity fuels our search for an investment edge
When markets panicked about Ireland during the Eurozone crisis in 2010, Ken Orchard got curious.
As a new T. Rowe Price analyst, Ken traveled to Brussels to meet with old contacts at the European Commission. And he perceived a “quiet confidence” that Ireland would manage through. This led us to invest in Irish government bonds and, over time, the debt of other European countries.
Constant questioning helps us find hidden opportunities with long-term potential.
Walking the halls in Brussels with Ken Orchard
Early in my career, before I came to T. Rowe, I was a sovereign analyst at a major credit rating agency through the global financial crisis.
While I was there, I made a lot of good contacts at the European Commission because they were the ones that were heavily involved in negotiating and building the rescue packages for countries in Eastern Europe.
Little did I know at the time how useful those contacts would become later on.
Fast-forward to 2010, when I came to T. Rowe Price and the eurozone crisis was kicking off with panic around Ireland, one of the first things that I did was to hop on the Eurostar, go to Brussels, walk the halls of the Department for Economic and Financial Affairs in order to get their perspective on what was really going on.
And what I found curious was the contrast between their quiet confidence that Ireland was going to be able to manage through this crisis and the panic that was taking place in the markets as people sold Irish bonds at incredible yields.
So I came back to London, and after working through the numbers, we determined that it would be good for our clients to invest in Irish government bonds.
A similar process led to us investing in many other countries over the next five years, including Slovenia, Cyprus, and Greece.
So what started off as questions about quiet confidence in the halls in Brussels and the panic in the market ultimately led to long-term investment.
For me, curiosity is about finding the right people, asking the right questions, in order todeliver long-term value for our clients.
2. Curiosity reveals what others have missed
Constant questioning lets us find hidden investments with long-term potential for clients.
Turning over stones with Justin Thomson.
I've been involved in equity investing for 33 years.
What I found over time that equities have outperformed over nearly all time periods is not because the average stock is a good investment. It is because of the outliers, those stocks that can grow consistently over many years and can compound returns for investors.
The question is how do you develop a process that increases the chances of identifying these opportunities in a repeatable way.
We believe that it's by having sufficient resources, creating the right networks, and turning over as many stones as you can that we're able to be relentless in the pursuit of these ideas and rigorous in asking the right questions.
One investment that stands out for me is a little known UK PC company.
I was curious that there was a unique chip design business hidden away in that company that our technology analysts had tipped me off to.
For a small cap, we felt we'd identified a big opportunity.
That technology grew into a major player in smartphones and supercomputers, as well as a long-term investment for T. Rowe Price.
What makes a good company a great investment is a vision and a strategy that invests for scaleat the very start.
And it's by having a reliable process that pushes us to ask the right questions that enables us to identify those opportunities.
3. The art of asking the right questions
Discover how curiosity drives successful investing in the ever-changing technology market.
AI: The art of asking the right questions with Portfolio Manager Dom Rizzo
We have the best jobs in the world. We get to meet the CEOs and CFOs of these majorpublic companies having groundbreaking technology breakthroughs, every single day.
Not only that, we get to go deep within those organisations. Often we ask to meet the head of AI, whoever's heading that up, and pick their brains on the future of the technology.
Because we've done that in the past, we were very early to new technology trends like the rise of the Transformer Large Language model. That's the T in ChatGPT. Going forward, we continue to have to be on our toes and understand all the twists and turns that are happening in the technology market.
We're constantly studying and looking for the next new model. We're constantly studying and looking for the next great chip architecture. Digging for new insights.
Curiosity is imperative for being a good investor. You have to ask the right questions, trying to figure out great insights and trying to find great ideas for our clients.
Curiosity in practice—on the ground, around the world
Guided by our active management approach, analysts relentlessly pursue new ideas. See how they go beyond the numbers, meeting companies they evaluate firsthand. Asking better questions. And conducting more rigorous research to get the answers we need for your clients’ investments.
Partner with a premier global asset manager
US$839B
Equity AUM
US$200B
Fixed income AUM
US$583B
Multi-Asset AUM
US$21.9B
Total invested in private companies
1937
Year founded
58
Countries in which we serve
930
Investment professionals
AUD 2.54 trillion
Assets under management
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All data as of 30 June 2025, unless otherwise stated. Firmwide assets under management include assets managed by T. Rowe Price Associates, Inc., and its investment advisory affiliates. Assets under management are calculated in U.S. dollars and converted to Australian dollars using an exchange rate determined by an independent third party.
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Equity Trustees Limited (“Equity Trustees”) (ABN: 46 004 031 298, AFSL: 240975), is the Responsible Entity for the T. Rowe Price Australian Unit Trusts ("the Fund"). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN: 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).
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