To provide long-term capital growth by investing mainly in technology companies, and companies enabled by technology.
Investment ObjectiveTo increase the value of its shares, over the long term, through growth in the value of its investments. The fund invests mainly in a diversified portfolio of stocks of technology development or utilization companies, with a focus on leading global technology companies. The companies may be anywhere in the world, including emerging markets.
- Seeks long-term growth by investing primarily in the common stocks of companies that generate the majority of revenues from the development, advancement, and use of technology.
- Stock selection is driven by rigorous research and analysis of companies, sectors, and industry trends.
- The portfolio invests primarily in the common stocks of technology companies or companies enabled by technology across the entire market capitalization spectrum. We seek companies which can successfully weather economic cycles and deliver sustainable growth through product development and innovation, at a reasonable valuation.
- While our primary emphasis is on a company’s prospects for future growth, valuation can also be an important consideration, particularly when valuation reaches extreme levels.
- The portfolio is less diversified than a non-focused fund and its substantial reward potential is coupled with significant risk. In addition, any foreign holdings could be affected by declining local currencies or adverse political or economic events.
- Typically 35-60 stock portfolio
- Non-U.S. companies typically make up 25-45% of the portfolio
- Portfolio consists of highest conviction ideas from a global perspective
- Diversification across sectors, countries/currencies, and end markets is a risk management tool
- Bottom-up stock picking is used to capitalize on rapid and extreme changes in technology trends
|1 YR||3 YR
|Since Manager Inception
|Indicative Benchmark %||22.80%||19.51%||N/A||16.99%||22.80%|
|Excess Return %||-13.60%||-4.56%||N/A||-0.77%||-13.60%|
|1 YR||3 YR
|Indicative Benchmark %||46.89%||25.18%||N/A||18.82%|
|Excess Return %||-13.84%||-4.36%||N/A||-1.53%|
|Month to DateData as of 27-Mar-2020||Quarter to DateData as of 27-Mar-2020||Year to DateData as of 27-Mar-2020||1 MonthData as of 29-Feb-2020||3 MonthsData as of 29-Feb-2020|
|Indicative Benchmark %||-11.22%||-15.16%||-15.16%||-6.97%||0.21%|
|Excess Return %||3.38%||5.72%||5.72%||-0.30%||0.38%|
Past performance is not a reliable indicator of future performance. Source for fund performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges (up to a maximum of 5% for the A Class), taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.
Where the base currency of the fund differs from the share class currency, exchange rate movements may affect returns.
Returns shown with reinvestment of dividends after the deduction of withholding taxes.
Effective 1 July 2018, the "net" version of the indicative benchmark replaced the "gross" version of the indicative benchmark. The "net" version of the indicative benchmark assumes the reinvestment of dividends after the deduction of withholding taxes applicable to the country where the dividend is paid; as such, the returns of the new benchmark are more representative of the returns experienced by investors in foreign issuers. Historical benchmark performance has been restated accordingly.
Largest Top Contributor^
Alibaba Group HoldingBy 1.56%
Largest Top Detractor^
Pacific Ex Japan
Alan Tu is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is president of the Investment Advisory Committee of the Global Technology Equity Strategy. Previously, he was an investment analyst following software companies in the technology sector. Mr. Tu is a vice president and an Investment Advisory Committee member of the U.S. Small Cap Growth and Science & Technology Strategies. He is a vice president of T. Rowe Price Group, Inc.
Mr. Tu has seven years investment experience, five of which have been with T. Rowe Price. He joined the firm in 2014 after serving as a summer intern with T. Rowe Price in 2013, covering broadcast TV companies. Previously, Mr. Tu was an analyst at Ananda Capital Management, where he conducted analyses of small-cap Chinese and U.S. equities, and a valuation associate at Huron Consulting Group.
Mr. Tu earned a B.S., summa cum laude, in business administration from the University of California-Berkeley and an M.B.A., with honors, from the University of Chicago Booth School of Business. Mr. Tu also has earned the Chartered Financial Analyst designation.
- Fund manager2019
- Years at5
T. Rowe Price
- Years investment6
|Share Class||Minimum Initial Investment and Holding Amount (USD)||Minimum Subsequent Investment (USD)||Minimum Redemption Amount (USD)||Sales Charge (up to)||Investment Management Fee (up to)||Ongoing Charges|
|Class A||$15,000||$100||$100||5.00%||175 basis points||1.85%|
|Class I||$2,500,000||$100,000||$0||0.00%||85 basis points||0.91%|
|Class Q||$15,000||$100||$100||0.00%||85 basis points||0.95%|
|Class S||$10,000,000||$0||$0||0.00%||0 basis points||0.09%|
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.